Are you considering purchasing a home or a condominium in Vernon, BC or the North Okanagan? Real estate purchases are one of the most important investments you will make in your lifetime, therefore, it is critical that you get it right. When purchasing a home, you are purchasing the home and land that it sits on and surrounds it, however, a condo includes only the living space (or the condo unit), and some common areas.
While homes for sale in Vernon, BC have a great location, other factors that you will need to consider are maintenance costs, safety, space issues and more. There are advantages and disadvantages to both housing options and determining which Vernon real estate investment is right for you will take some research and lifestyle consideration on your part. Here are some points to keep in mind:
- Urban living is becoming popular again and condos usually fit this need, as many are within walking distance to shopping and more. However, many home owners prefer suburban or country settings.
- The amenities, such as fitness centers, pools and more, make condo living an attractive choice for many. When owning your own home, not all of these amenities are available to you and if you want them, you are responsible for them.
- Condos are typically low maintenance and include indoor and outdoor components that cover landscaping, snow removal, and normal maintenance. With home ownership, all of this falls on your shoulders to take care of.
- The association fees associated with owning a condo, many times turn homeowners off from the idea of purchasing a condo. And, the shared decision making is often less desirable for many. Today, many homes are part of home associations as well, so there are incurred fees with both types of homes.
- Privacy is also something you should consider. A condo will not provide you with a ton of privacy, however, a house would give you more privacy.
You are the only one that can answer the question, which is right for me - a house or a condo? It really will come down to your lifestyle and what you want to accomplish with your North Okanagan real estate or your Vernon, BC real estate. Do you plan on this purchase being short-term, long-term or just an investment?
Vernon, BC homes for sale are a great investment, no matter which you choose. Take the considerations mentioned above into account when deciding and do your research. As the real estate market continues to grow, so do your choices. Affordable housing is at your fingertips and yours for the choosing.
For more information on opportunities to purchase houses or condos in the Okanagan, please contact the Salt Fowler Team.
Many people make the decision to either remove their home from the market during the Fall or delay listing their home during the Fall, usually because they either don't want to move in the winter or feel their home has a lesser chance of selling in the off season.
Here are four benefits that these sellers are missing out on:
1. Less Competition: Every Fall, market inventory declines significantly. Fewer homes on the market at any given times gives your home a better opportunity to shine in comparison to others currently listed. A glut of inventory can create confusion in the minds of buyers whereas less choice makes decision making quicker and easier for many. Never underestimate the power of "being there" when someone is looking for a hike in your price range. Many homes that otherwise may not sell, sell in the winter, and in some cases, sell for more money.
2. Serious Buyers: Buyers looking to buy real estate during the Fall and Winter are generally the most serious buyers of the entire year. Many have just sold their homes and need to find a new place to live in a specific period of time. Others have been looking all summer, particularly at recreational properties, and have finally come to a decision as to what they wish to buy. These two sets of buyers are ready to put their signatures on the bottom line to buy something. As a seller, this is an excellent time to capture a serious buyer. There will be less showings, however those buyers looking definitely want, or need, to buy.
3. Quality Showings: If your home has a treacherous north facing driveway, the off season may not be a good time to list your home. However, many people decorate their homes to celebrate the Christmas season. If you are one of them, your home shows among its best with its seasonal decorations! Take advantage of the festive season and the opportunity it brings.
On another note - does your home have substandard landscaping? Cracks in the driveway? Snow hides a world of hurt! Maybe this is your exterior's time to shine.
4. Negotiable Possession: I know, I know, I know.... But you don't want to move in the winter. However here is one thing I know - neither do most of the buyers! Name your possession date - most buyers will be happy to comply. And if not, what have you lost? If your home wasn't listed, you wouldn't have had the opportunity to find this buyer in the first place.
If you are serious about selling your home, listing your home or keeping your home listed during the fall or winter months is a great way to capitalize on the above benefits.
For more information on selling your home, contact the Salt Fowler Team at RE/MAX Vernon at 250-549-SALT.
As of late, especially in our local Okanagan market, there has been a large influx of alternate commission real estate salespeople who offer “reduced” commission rates, all the while advertising similar, if not expanded, marketing and services.
This practice is leaving many home sellers perplexed, asking themselves, “Why would I hire a full service Realtor® when I can save so much money by hiring one of these boutique companies?”
Although the Competition Bureau does not allow us to make direct comparisons, what I can do is provide you with a series of questions for you to to ask any real estate salesperson when considering hiring them to market and negotiate on your behalf for your largest asset – your home. The answers to these crucial questions will help you decide whether you will ultimately net more from hiring the services of a full service Realtor ® or whether hiring an alternative commission salesperson is good enough for you.
These questions are as follows:
Question #1: How much more do your listings sell for than the real estate board average?
Hint: This will help you to determine whether this salesperson has verifiable results of success or whether their focus is on reduced margin/quick sales model (eg. The Walmart model. In this case it’s your margin, your equity in your home, at stake).
Question #2: As a high percentage of the sales in the Okanagan are to out of towners, what does your firm do and what do you specifically do you attract that business?
Hint: Having a website is no longer enough, you need worldwide coverage to sell for top dollar.
Question #3: As a high percentage of the sales in the Okanagan are to out of towners, how does your firm attract referrals from out of town Realtors®?
Hint: Realtors in franchise firms across Canada primarily refer to Realtors® in their company networks.
Question #4: If Realtors® make their income primarily on a commission basis, how will offering the Realtors® working with the buyers a reduced selling commission get them excited about showing and bringing an offer on my home?
Hint: Only a small percentage of the total listings sold are sold by the listing agent, therefore Realtor® cooperation is extremely important in getting top dollar for your home.
Question #5: If studies show that 90% of home buyers searched online during their home buying process and that 70% of home buyers use video to tour the inside of homes, will you market my home with a professional video?
Hint: Check websites beforehand.
The salesperson’s answers to each of these questions will help you make a more informed decision as to the benefits of hiring a full service Realtor® versus an alternate commission salesperson.
*Source: Digital House Hunt, National Association of Realtors
Preparing your home to be as presentable as possible is one of the most important roles you as the homeowner play in your home sale. By following these next 5 tips, you can ensure your home sells for the most amount of money in the least amount of time.
If you want your house to look like it's worth every penny of your list price, you need to put your home’s best foot forward. And then some! Here are some of our best, proven, home staging tips:
1. Fresh linens.
Make sure any visible linens (tea towels, chair cushions, oven mitts, etc.) are brand new or at least look brand new. If any are exceptionally outdated, replace with new ones that compliment the rest of your décor.
2. You never get a second chance to make a first impression.
The exterior of your home should look as polished as the interior. This means neatly trimmed bushes, mulched flowerbeds and watered grass. In the Okanagan’s sometimes excessive heat, people often don’t want to pay the water bill to water their lawns. This is a huge mistake when your home is for sale as it will cost you in terms of a poor first impression for drive-bys potentially losing you showings, as well as creates doubt in potential buyers that the home is well maintained. Suck it up and pay that water bill! It will net you more money in the long run.
3. Smell is your most important sense.
Baking cookies has become a cliche, but buy a room spray with a fragrance you love and spray the house sparingly before each showing. Home staging can be easy and inexpensive, especially if you focus on the small details. Then, just stand back and let your house shine and it is sure to impress potential homebuyers.
You don’t have to spend a fortune on lighting, and even Ikea has some great lighting! Or any big box store sells beautiful ones for a few hundred dollars or less. Many homes don’t have sufficient lighting to begin with, so the more lighting the better. Bright is beautiful!
You might have a huge couch that you absolutely love, or you’ve been dragging around since college, but if it makes the room look small, it must go. It’s better to have small groupings of furniture with plenty of space around them.
This concludes our 3 part series on home staging. For more personalized information, please call us. We are happy to help.
Read more Just Add Salt! articles
- Top home staging tips: Part 2 Aug 27
- Top home staging tips: Part 1 Jul 27
- Moving up? Jun 25
- How to buy a foreclosure: Part 3 Jun 3
- How to buy a foreclosure: Part 2 May 8
- How to buy a foreclosure: Part 1 Apr 10
- Okanagan lakefront is a good investment Mar 5
- Downsizing: when to sell - how to sell Jan 30
- Home renovations for resale Aug 16
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