Use the Mortgage Calculator to estimate the maximum mortgage you can afford. This calculation is based on two simple rules that lenders use to determine how much of a mortgage you can afford. The first rule is that your monthly housing costs should not exceed 32% of your gross monthly household income. Housing costs include monthly mortgage payments, taxes and heating expenses. If applicable, this sum should also include half of monthly condominium fees. Secondly, your entire monthly debt load should not be any more than 40% of your gross monthly income. This includes housing costs, and other debts such as car payments, personal loans, and credit card payments.

This very key piece of information will directly affect the location and kinds of homes available in your price range. By being prepared you can avoid any surprises and simplify your home buying experience. Experiment with numbers!

Read loudly: Yes I can !

It is imperative to recognize the reasons of the current mess started in the western world. It is greed, greed and greed!

Just a disclaimer that I am not a financial advisor but received seriously effective tips from some wise people and thought this might be helpful to many in the current market conditions. Follow these and you will be  free shortly.

1. Be Content: and happiness will follow

People in pursuit of comfort increase the necessities of life so much that a drop becomes a sea. Hoarding and shopping become a disease. People are ready and willing to stand in long lines with a slight drop of a commodity cost. Just walk around your home and look at the things you have not used in ages.

2. Shop only for what you need

Make a list of things you really need to buy and write them on paper. DO NOT go shopping without this list. While shopping stick to this list, there might be lot of tempting prices on the way but train your self to treat them as distractions to your freedom.

3. Pay Cash

Try this next time.  Compare the feeling that you really “feel like buying” something versus the feeling you get while buying on credit. Purchasing on credit is like buying free until we get the invoice. The good thing is you will only buy thing which you can pay for today. Beware that during such times crimes increase so be careful as not to carry too much cash.

4. Pull the plug

Make it a goal to cut the credit cards and recycle them to something useful. Most likely even the material of this evilness is useless. Start by paying off the high-interest cards first. Depending on how deep your credit, you will not be able to come out overnight.  The way the system works here, unfortunately, you will need a credit card to be credit worthy. Hold onto one low interest card and payoff before the payment date.

5. Invest

Have extra money? Investment is all about buying low and selling high. Find deals and deals are happening all over. In real estate for example March and April had a huge spike in activity in GTA.  Read here some of the reasons of this sales activity. To be financially successful in the future, you need to sow the seeds of investment now. Feel free to contact me for any of your real estate investment needs.

Does time on the market affect selling price?
Absolutely! There is a direct correlation between time on market and final selling price. The longer a home is on the market the greater decline in perceived value by the buyer.

How do I know my price is right?
It is our job to assist you by providing a comprehensive market analysis to give you the information you need to set your price.

Should I price my house high in order to have room to come down?
Having a high asking price puts you at a disadvantage. Buyers will interpret your high asking price as not been serious about selling.

What is “computer avoidance”?
Salespeople search the MLS system for properties by price, and criteria. Overpriced properties will fall outside of the search parameters and be missed.

How do I negotiate with the buyer?
It is our job to negotiate on your behalf and to provide advise, opinions and solutions to keep the negotiations moving through to a satisfactory result.

What am I suppose to do when the house is being shown?
If you are present greet the salesperson and their clients warmly and let the salesperson present your home, don’t become involved in the showing you might share some information that could be detrimental to the sale.

Do I really need to keep the house clean for every showing?
Yes, we want to make it look as much like a model home as possible. I will provide you with a helpful booklet “Dress Your House For Success” which will give you some great ideas and insight that don’t cost anything.

1. Make the Most of that First Impression: A well-manicured lawn, neatly trimmed shrubs and a clutter-free porch welcome prospects. So does a freshly painted – or at least freshly scrubbed – front door. If it’s autumn, rake the leaves. If it’s winter, shovel the walkways. The fewer obstacles between prospects and the true appeal of your home – the better. Find a landscaper or painter to help.
2. Invest a Few Hours for Future Dividends: Here’s your chance to clean up in real estate. Clean up the living room, the bathroom, the kitchen. If your woodwork is scuffed or the paint is fading, consider some minor redecoration. Fresh wallpaper adds charm and value to your property. If you’re worried about time, hire professional cleaners or painters to get your house ready. Remember, prospects would rather see how great your home really looks than hear how great it could look “with a little work.” Find a cleaning service or handyman to help.
3. Check Faucets and Bulbs: Dripping water rattles the nerves, discolors sinks, and suggests faulty or worn-out plumbing. Burned out bulbs or faulty wiring leave prospects in the dark. Dont let little problems detract from what’s right with your home. Find a plumber, electrician or general contractor to help.
4. Don’t Shut Out a Sale: If cabinets or closet doors stick in your home, you can be sure they will also stick in a prospect’s mind. Don’t try to explain away sticky situations when you can easily plane them away. A little effort on your part can smooth the way toward a closing. Find a handyman to help.
5. Think Safety: Homeowners learn to live with all kinds of self-set booby traps: roller skates on the stairs, festooned extension cords, slippery throw rugs and low hanging overhead lights. Make your residence as non-perilous as possible for uninitiated visitors.
6. Make Room for Space: Remember, potential buyers are looking for more than just comfortable living space. They’re looking for storage space, too. Make sure your attic and basement are clean and free of unnecessary items. Find a contractor to help.
7. Consider Your Closets: The better organized a closet, the larger it appears. Now’s the time to box up those unwanted clothes and donate them to charity.
8. Make Your Bathroom Sparkle: Bathrooms sell homes, so let them shine. Check and repair damaged or unsightly caulking in the tubs and showers. For added allure, display your best towels, mats, and shower curtains. Find a contractor to help.
9. Create Dream Bedrooms: Wake up prospects to the cozy comforts of your bedrooms. For a spacious look, get rid of excess furniture. Colorful bedspreads and fresh curtains are a must.
10. Open up in the Daytime: Let the sun shine in! Pull back your curtains and drapes so prospects can see how bright and cheery your home is!

RE/MAX has done extensive research with homeowners, to better understand what makes them tick. This enables us to help you in many ways. First, knowing your preferences is invaluable when it comes to finding that perfect home. Open concept or traditional? Lofty or intimate?

As a home owner, you are likely to re-sell at some point and should consider the benefits of the neighbourhood. Remember, choices you make regarding improvements or renovations can drastically influence your home’s market value.

Our research has led to the development of a smart tool that can actually show you just what renovations generate the highest return on investment, based on the type of home you currently live in.

For more information on selling your home do not hesitate to call or simply complete the form below. Also, please take advantage of a Free Home Evaluation.

The RE/MAX Return on Reno Index is a proprietary tool to help you get the most value out of every renovating dollar you spend. We took an exhaustive look at the various renovations people commonly do on their homes and judged their return on investment based on a variety of criteria. The findings were nothing short of enlightening.

Once you’ve achieved a realistic sales price, you can count on your property being professionally marketed and promoted to bring more buyers to your door. You can also expect to sell your home for the best possible price in the lease amount of time.

The Benefits of Pricing Right

1. Your property sells faster, because it is exposed to more qualified buyers.
2. Your home doesn’t lose its “marketability.”
3. The closer to market value, the higher the offers.
4. A well-priced property can generate competing offers.
5. Real Estate Professionals will be enthusiastic about presenting your property to buyers.