Calgary Area Real Estate BlogRecently posted or modified blog postshttps://www.calgary.com/blog/Copyright Calgary.com2024-03-14T11:58:08-07:00tag:calgary.com,2012-09-20:18888Is Your Home Priced to Sell? Pros & Cons of Home Pricing Strategies<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/pricing-your-home.jpg" alt="How to Price Your Home to Sell Fast" width="475" />How do you sell your home for the most money as fast as possible? It usually starts with price—but it might not be the way you’re thinking. Attracting buyers, one of the vital <a href="https://www.calgary.com/blog/step-by-step-guide-to-selling/">steps to home selling</a>, isn’t as simple as pricing low, and getting the most money isn’t as simple as pricing high. Pricing right in the middle isn’t always the best strategy, either.
Let's unravel the nuances of real estate pricing strategies and pave the way for your home's successful journey to the closing table.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />How Home Value is Determined
You're the one setting the price of your home—with the help of your real estate agent's expertise, of course—but the value of your home is determined by the buyer. It doesn't matter what price you put on your home if a buyer isn't willing to pay it.
It can be a hard pill to swallow, especially in a competitive market, but it's important to keep emotion out of your pricing strategy. It can cloud your judgment, and you may overprice your home, driving away the buyers you're trying to attract.
Factors That Affect Price
Things to think about when determining an asking price include:
Timing. Is there any urgency to selling your property? If you're under pressure to sell, you may have to compromise on a lower target price.
Selection. What type of competition is there in your community? Are there are lot of listings or only a few? Keep in mind that the number of listings doesn't necessarily determine whether you're in a buyer's or seller's market; that's the buyer demand for homes in your area compared to the number of listings.
Market analysis. A study of what homes in your area sold for in the last three to six months will give you a realistic picture of what similar properties went for. We offer a free market analysis to help you <a href="https://www.calgary.com/sellers/free-market-analysis/">learn what your Calgary property is worth</a>.
Home size and usable space. Square footage matters, and so does whether your basement is finished or unfinished. Garages aren't valuable living space; bedrooms and bathrooms are. This is also why it's a bad idea to turn a bedroom into something else before listing—the number of bedrooms is a common filter buyers use when looking for homes.
Age and condition. These generally go hand-in-hand since wear accumulates over the years, and the National Building Code is updated over time. Newer features like plumbing and roofing are more likely to be code-compliant and less likely to break down in the near future. A home that requires no repairs and is move-in-ready is highly prized for convenience.
Factors That Don't Affect Price
Things you need to let go of when you're setting a value on your home include:
How much you paid for your home. Your original cost is irrelevant to the buyer.
How much money you need to receive from the sale. Buyers won't be willing to pay extra to finance your move to a higher-priced home. If you're selling due to financial distress, you may garner some sympathy points, but don't count on it; this is the biggest purchase most buyers make in their lives.
The replacement cost of your home, which you may have kept in the back of your mind for insurance purposes. It doesn't matter what the price tag is if you built your home from the ground up today; what matters is the home that exists now.
Your attachment to your home. Buyers make an offer based on how they feel, not on how you feel.
Your out-of-pocket expenses in the sale transaction. As much as you'd like to add in property tax reconciliation, lawyer's fees, and commission, you can't make the buyer pay them by building them into your price. They can be taken out of the proceeds to simplify matters, however.
What your neighbour has to say. They may have anecdotal information about what other homes in the neighbourhood are worth, but take their advice about what fair market value might be with a grain of salt.
Factors That May or May Not Affect Price
Improvements you have made. Yes, buyers almost always prefer updated kitchens and bathrooms. If you're doing research-backed <a href="https://www.calgary.com/blog/high-roi-improvements/">home improvements with high ROI</a>, it may be a good idea. However, a high-end kitchen won't guarantee you a faster sale, nor is it guaranteed to make you your money back in profit. Over-renovating when you're preparing to sell is a frequent <a href="https://www.calgary.com/blog/selling-your-calgary-house-avoid-these-costly-mistakes/">home seller mistake</a>.
Location, depending on what part of your location you're valuing. Being near a school, shopping center, public transit, or concentration of employers is almost always a plus to your home's value. Being near something convenient to you, like a dog park or a specific employer, will only add value if your potential buyer has the same priorities. You'll also have to consider your home's proximity to things like highways or airports, which can be a benefit for convenience but a drawback for noise.
Price Below Market Value
<img src="https://assets.site-static.com/userfiles/4845/image/pricing-your-home-underpricing.jpg" style="display: block; margin: 20px auto;" alt="Should You Underprice Your Home to Sell Fast?" />
In situations where demand is high and supply is low, pricing your property below market value can attract more potential buyers and create a competitive environment. Sparking a bidding war can potentially net you far above your asking price.
However, this strategy could result in lost profits if the best offer doesn't match your home's fair market value or meet your desired sale price.
Carefully weigh the pros and cons before deciding on this pricing approach.
Pros of Underpricing
Pricing below market value in real estate can spark heightened interest and potentially ignite a competitive bidding atmosphere among buyers. Setting a price lower than comparable properties attracts more attention and increases the likelihood of multiple offers. This strategy often leads to a quicker sale and can result in a higher final sale price due to the competitive nature of the bidding process.
Additionally, it may appeal to buyers looking for a deal or those seeking to secure a property in a desirable location. Keep in mind that working closely with a knowledgeable real estate agent is essential to navigate the complexities of pricing below market value and maximizing the benefits it can offer.
Cons of Underpricing
While pricing below market value can create excitement and stimulate competitive offers, if you're not already in a hot market, there's a significant risk of not receiving bids soon after listing. This may result in a longer selling process, increased risk of lost profit, and increased <a href="https://www.calgary.com/blog/stress-of-selling-a-house/">home selling stress</a>.
Additionally, setting a price below market value may attract opportunistic buyers looking for a steal, leading to false hope and potential conflicts during negotiations.
Buyers are also expecting you to seek out the best possible price you can get for your property. If you significantly underprice your home without an obvious reason, buyers will be asking themselves, "What's wrong with it?"
It's crucial to carefully assess the market conditions and consult a knowledgeable real estate agent to determine if pricing below market value is the right strategy for your home sale.
Price Above Market Value
<img src="https://assets.site-static.com/userfiles/4845/image/pricing-your-home-overpricing.jpg" style="display: block; margin: 20px auto;" alt="Why You Should Never Overprice Your Home" />
When pricing your property above market value, you risk turning away potential buyers who may find the price unappealing. This strategy could lead to a longer listing period and fewer offers, impacting your ability to sell quickly and at a satisfactory price.
On the other hand, you could get lucky with the perfect buyer and walk away with more money.
It's essential to carefully weigh the pros and cons of pricing above market value to make an informed decision that aligns with your selling goals.
Pros of Overpricing
The most apparent benefit is that you get more money if you successfully sell your home at a higher asking price. However, properties with inflated prices often linger on the market, leading to decreased interest and potentially lower final sale prices. A longer selling process can also increase the cost of selling a home by forcing sellers' hands regarding making repairs and increasing marketing.
Sellers may opt for this approach out of optimism or as a strategic move. Still, it's crucial to consider the potential drawbacks, such as extended market time and reduced buyer interest.
By pricing your property above market value, potential buyers who dislike negotiating may be deterred from making offers. This strategy could appeal to sellers seeking to test the market or capitalize on ambitious pricing, but it's a double-edged sword.
While aiming high can be tempting, weighing the benefits against the risks is essential. It's advisable to consult with a real estate professional to determine the most effective pricing strategy for your specific situation.
Cons of Overpricing
If you list your property above market value, you risk deterring potential buyers who prefer straightforward transactions. While you can theoretically adjust your asking price later, it's not a good idea.
Let's say you want to start high with the expectation that your asking price can be adjusted if there's no action in the first few weeks. In the meantime:
Other homes in your neighbourhood will look pretty good compared to yours and will likely sell first.
While waiting to see if there's any action, you're losing customers. Most activity on a home listing occurs within the first few weeks. After that, interest starts waning.
Fresh listings will overtake yours, and fewer buyers will see your home while browsing.
You will continue to make mortgage payments, and even if the home is empty, utilities and maintenance must be paid. Weigh these <a href="https://www.calgary.com/blog/carrying-costs-real-estate/">carrying costs</a> against the price you want.
If your home has been on the market too long because it's been overpriced, potential buyers may suspect there's something wrong with it that's driving other buyers away.
When you price your home over the appraised value, you risk a potential buyer's loan being rejected. <a href="https://www.calgary.com/blog/home-buying-contingencies-everything-you-need-to-know/">Financing and appraisal contingencies</a> could lose you valuable time.
A discounted price may attract deal-seekers later, but these are buyers who are looking to pay as little as possible. Unless your discount goes below market value, they're likely to look elsewhere.
By the time you get an offer, you may end up accepting a lower price than you would have had to accept should you have priced it correctly in the beginning.
Time is money when you're selling a house. Overpriced listings tend to languish on the market, losing perceived value the longer they sit. Sellers may choose to price above market value out of ambition or a specific strategy, but this decision can lead to leaving money on the table.
It's essential to consider these drawbacks when setting the price for your home to attract the right buyers and secure a quick sale.
Price With Market Value
When considering pricing your property at market value, you must carefully weigh the pros and cons. To make an informed decision, evaluating your property's unique aspects and current market conditions is essential.
Pros of Pricing at Fair Market Value
Setting the price of your home at market value may attract more potential buyers and increase your chances of a quick sale. This approach creates a sense of fairness, attracts serious inquiries, and prevents your listing from languishing on the market.
Real estate agents will know the fair market value of houses similar to yours, so presenting a fair price is more likely to lead to agents showing buyers your house. After all, they're working in the buyer's best interest and will inform them if a home is overpriced.
Pricing at market value gives buyers a realistic view of your home's worth, setting the stage for successful negotiations. With this strategy, you maintain flexibility while appealing to a broad range of buyers, maximizing your chances of securing a favourable deal. Understanding your property's unique features and current market conditions is key to setting the right price.
Cons of Pricing at Fair Market Value
To fully grasp the potential drawbacks of pricing your home at market value, there are a few potential considerations.
While pricing at market value often attracts serious buyers and expedites the selling process in stable or rising markets, it may result in lowball offers or no offers in declining markets. Clearly understanding your area's local market dynamics is vital to selling quickly.
Tips For Selling at the Best Price
When selling your home, it's essential to find out what your home's worth online and choose the right real estate agent to guide you through the process. Striking a balance between over-pricing and under-pricing can help attract the right buyers and secure a good sale price.
Find Out Your Home's True Worth
While online estimates can be a helpful starting point, it's essential to consult with a real estate agent to verify the accuracy of the assessment. More importantly, the agent should provide a Comparative Market Analysis (CMA) to help you determine your property's fair market value. This analysis considers various factors such as the location, size, age, and condition of the property and recent sales of similar properties in the area. A comprehensive CMA will offer a clearer understanding of the property's value, enabling you to decide whether to proceed with the purchase.
Choose the Right Real Estate Agent
Before listing your home on the market, it's crucial to <a href="https://www.calgary.com/blog/choosing-real-estate-agent-to-sell-your-home/">choose the right seller's agent</a>. Look for an agent who understands local market dynamics, can accurately price your home, and has a proven track record of selling similar homes at or above market value. A <a href="https://www.calgary.com/sellers/how-we-help-sellers-succeed/" title="How We Help Sellers Succeed">skilled agent with a great team</a> can help you navigate negotiations to secure the best price.
Effective communication with your agent helps ensure your home sells for the best price. Favour the agent who can provide you with a customized marketing plan to maximize your home's value.
Strike a Balance Between Over-Pricing & Under-Pricing
Setting a fair market value for your home is crucial for attracting potential buyers and getting the best possible price. Consult with a professional real estate agent to determine the right price based on its location, condition, and other factors affecting its value. This can prevent a stagnant listing and increase the chances of a successful home sale within a reasonable time frame.
Decide Between Renovations and Selling As-Is
While renovations can boost your home's value and make it more appealing to potential buyers, remember that not all upgrades are created equal.
A <a href="https://www.calgary.com/blog/signs-your-roof-needs-replacement/">roof replacement</a>, for example, may offer a better return on your investment than a wood deck addition. An expensive kitchen upgrade might not return its full value when it comes time to sell, but <a href="https://www.calgary.com/blog/why-you-should-update-your-kitchen/">upgrading an outdated kitchen</a> could be vital. Some DIY projects like <a href="https://www.calgary.com/blog/painting-your-home-what-colors-should-you-paint/" title="Best Paint Colors to Sell a Home">painting</a>, <a href="https://www.calgary.com/blog/the-basics-of-curb-appeal-for-home-sellers/" title="The Basics of Curb Appeal">landscaping</a>, and <a href="https://www.calgary.com/blog/10-budget-friendly-improvement-tips-to-increase-your-homes-market-value/" ttile="Budget-Friendly Home Improvements to Increase Market Value">other cosmetic upgrades</a> are cheap, but they can increase curb appeal and lead to faster home sales, making them well worth a small expense. Consult with a real estate agent and a contractor before making major renovation decisions. If possible, calculate the return on investment for renovations against the potential selling price increase to make an informed decision.
On the other hand, <a href="https://www.calgary.com/blog/how-to-sell-a-house-as-is/">selling the property as-is</a> can save time and money and may appeal to investors looking for fixer-upper opportunities. If speed is of the essence, accepting a lower selling price in exchange for not having to make repairs could be a good move.
Market demand and the current condition of your property are significant factors to consider when deciding between renovations and selling your home as-is. Make the choice that best aligns with your goals and financial expectations.
Using Digital Photos to Sell Your Home Faster
High-quality digital photos of your home can significantly increase the chances of selling it faster. When preparing your home for a <a href="https://www.calgary.com/blog/professional-real-estate-photography/" title="Why You Should Get Professional Real Estate Photos">professional photo shoot</a>, the real estate photographer should capture your home in the best possible light. An excellent exterior shot is crucial, as it can grab the attention of potential buyers and make them eager to see what's inside.
If you're planning to sell in the winter but have enough time to do photos in the summer, <a href="https://www.calgary.com/blog/green-photography-when-is-the-best-time-to-take-real-estate-photos/">green photography</a> can really make your home stand out in comparison to snow-covered shots.
Lastly, consider using real estate photography trends like twilight photography, <a href="https://www.calgary.com/blog/drones-in-real-estate/">drone footage</a>, and virtual staging to boost your chances of a quick sale at the best price.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2024-03-14T09:39:00-07:002024-03-14T11:58:08-07:00Justin Havretag:calgary.com,2012-09-20:22471Selling Your House and Buying a New One at the Same Time: 4 Tips for Homeowners<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/sell-and-buy-at-the-same-time.jpg" alt="How to Sell and Buy a House At the Same Time" width="475" />Navigating the intricacies of buying and selling a home at the same time in Canada can be a daunting task. <a href="https://www.calgary.com/blog/stress-of-selling-a-house/" title="How to Manage the Stress of Selling a House">Selling a house is stressful</a> at the best of times, but doing that while also buying a home? Imagine juggling the timelines, financial considerations, and logistics of two significant transactions concurrently—and if you drop one of the balls in the air, you could take a serious financial hit.
As you stand on the cusp of this challenging but rewarding journey, understanding the nuances and strategies involved is crucial to your success. From managing closing dates to exploring financing options, every decision you make will shape your experience. Stay tuned to unravel the secrets of seamlessly orchestrating a dual home transaction in the Canadian real estate market.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />Pros & Cons Of Buying & Selling Simultaneously
When considering buying and selling a home simultaneously in Canada, it's crucial to weigh the pros and cons to make informed decisions.
Selling before buying can alleviate the stress of carrying two mortgages and provide you with ready funds, but it may lead to temporary housing expenses and storage costs until your new home is ready.
On the other hand, while buying before selling ensures you always have a place to stay and store your belongings, it can put a financial strain on you with dual mortgage payments until your old home sells. Also, you won't have the proceeds of your home sale when you make a down payment on your new home.
However, utilizing bridge loans can provide a temporary financial cushion to bridge the gap between two homes. Coordinating the closings of your current and new homes can help streamline the process, reducing the risk of overlapping mortgages or interim housing costs.
Remember that market fluctuations and timing are pivotal in the success of buying and selling simultaneously, so plan strategically to optimize your outcomes. <a href="https://www.calgary.com/blog/choosing-real-estate-agent-to-sell-your-home/">Choosing the right real estate agent</a> is crucial for understanding the market and optimizing your strategy. If you're buying and selling in the same city, it might not matter whether you're in a buyer's or seller's market. Whether you have the advantage as a seller or a buyer, you'll also be coming at the transaction from the opposite side.
Pros & Cons of Selling First & Buying Later
Consider selling your current home before buying a new one to simplify the mortgage process and potentially negotiate better terms for your next property.
By selling first, you can reduce your debt-to-income ratio, making qualifying for a new mortgage easier. Additionally, avoiding the financial strain of carrying two mortgages simultaneously can provide more financial flexibility. Utilizing the proceeds from the sale of your current home towards purchasing your next property can also help streamline the buying process. (If you're <a href="https://www.calgary.com/blog/selling-home-with-mortgage/">selling a house with a mortgage</a>, though, be sure to take that into account when calculating your buying budget, as well as other <a href="https://www.calgary.com/blog/how-much-will-you-have-to-pay-to-sell-your-home/">costs of selling a home</a>.)
On the other hand, by selling first and buying later, you'll likely need interim housing, and you'll double your moving costs. You also may feel rushed to purchase a new property, which risks making choices you'll come to regret.
If your buyer isn't on a strict timeline, consider negotiating a <a target="_blank" href="https://www.nesto.ca/home-buying/rent-back-agreement/">sale leaseback</a> when you sell your old home. In an SLB, you sell the home to a buyer and then rent your home back from them so you have a place to live while you look for your new home. This can take the form of rent payments, a lowered sale price, or other concessions.
Pros & Cons of Buying First & Selling Later
Opting to purchase a new home before selling your current one offers the opportunity for pre-move renovations, a relaxed moving timeline, and flexibility in timing the subsequent sale.
Buying first provides the advantage of being able to wait for optimal market conditions to sell your current home, potentially maximizing your sale price.
However, keep in mind that buying first will mean that you're carrying two mortgages simultaneously, increasing your financial strain while you wait for optimal market conditions. You'll also be on the hook for utilities, property taxes, maintenance, and other expenses. If you wait too long to sell your old home, the <a href="https://www.calgary.com/blog/carrying-costs-real-estate/">carrying costs</a> might outweigh the profit.
In addition, selling a home provides an influx of funds that can be used for a down payment and other <a href="https://www.calgary.com/blog/home-closing-costs/" title="What Are Home Closing Costs?">costs of buying a home</a>. If you haven't sold yet, you won't have this financial cushion.
Consider your priorities and financial situation when deciding whether to buy first and sell later or vice versa.
Tips For Successfully Buying and Selling at the Same Time
<img src="https://assets.site-static.com/userfiles/4845/image/house-swap.jpg" style="display: block; margin: 20px auto;" alt="Concept of Trading One House for Another" />
When buying and selling a home simultaneously, ensure you work with the right real estate agent to help you navigate and keep track of all the moving parts. Get pre-approved for a mortgage early so you can start house-hunting as soon as possible. Take a look at lenders offering bridge loans so you'll be informed if you end up needing one. Explore renting out your old home instead of selling it outright. These steps can help you navigate the process smoothly, manage finances effectively, and reduce stress during the transition period.
Work with the Right Real Estate Agent
To ensure a successful simultaneous buying and selling process, collaborate with a real estate agent who specializes in managing dual transactions effectively. Choose an agent with a proven track record in handling such transactions seamlessly.
Opt for someone well-versed in local market conditions to provide insightful advice. Look for an agent who can guide you on strategic timing and negotiation tactics for both buying and selling. Many agents specialize in working with either buyers or sellers, so look for an agent who can do both or has team connections that can help you.
Working with a real estate professional who can streamline the process and ensure a smooth transition between properties is crucial. Their expertise can make a significant difference in navigating the complexities of buying and selling a home at the same time.
Get Pre-Approved For a Mortgage
Securing <a href="https://www.calgary.com/blog/whats-all-the-buzz-about-pre-approved-mortgages/">pre-approval for a mortgage</a> is a crucial step in successfully navigating the process of buying and selling a home at the same time. By getting pre-approved, you gain clarity on your borrowing limits and interest rates upfront. This gives you a competitive advantage in the home-buying process and helps you make informed decisions on affordability while selling your current home.
Pre-approval can expedite the buying process, especially in a competitive market, by streamlining financing. Understanding your pre-approved mortgage amount enables you to set a realistic budget for buying and selling at the same time. Take this essential step to empower yourself with financial knowledge and confidence in your real estate transactions.
Try a Bridge Loan
Consider utilizing a bridge loan to facilitate the simultaneous purchase and sale of a home.
Bridge loans offer short-term financing to cover down payments, closing costs, and temporary housing expenses during the transition period. While these loans come with higher interest rates and shorter terms than traditional mortgages, they provide the flexibility to avoid the need to sell before buying.
To qualify, assess your current home equity, income, credit score, and ability to carry two mortgages. By leveraging a bridge loan, you can bridge financial gaps and navigate the real estate market with more agility.
This option can be beneficial in ensuring a seamless transition between your current and new home without the pressure of immediate sales.
Consider Renting Out Your Old Home Instead of Selling
If you're exploring options beyond a traditional sale, renting out your old home can be a strategic move to maintain ownership and generate income.
By renting out your old home, you can potentially cover mortgage payments and expenses on the property and gain a steady income stream. Retaining ownership also means you could benefit from future property value appreciation by <a href="https://www.calgary.com/blog/selling-a-rental-property/">selling your rental property</a>.
This strategic financial move offers flexibility in timing the sale and allows for a smoother transition to a new property. Renting out your old home can be particularly advantageous in a competitive real estate market, offering a practical solution to manage both properties effectively during the buying and selling process.
Buying & Selling at the Same Time is Tricky—But Doable
You've now equipped yourself with the knowledge and tools to navigate the intricate process of buying and selling a home simultaneously. You can confidently tackle this complex process by carefully weighing the pros and cons, staying organized, and seeking professional guidance.
Remember to communicate effectively, leverage your home equity wisely, and keep abreast of market trends for a successful transition. You can achieve your real estate goals seamlessly with strategic planning and foresight.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2024-03-14T07:30:46-07:002024-03-14T07:45:38-07:00Justin Havretag:calgary.com,2012-09-20:22464How to Sell a Rental Home: Navigating Tenants & Capital Gains Tax<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/selling-a-rental-property.jpg" alt="How to Sell a Rental Property" width="475" />Are you on the fence about selling your rental property? As a property owner, navigating the intricacies of the real estate market can be challenging, especially when dealing with tenants. Understanding the legal obligations and market conditions is essential, but there are also practical steps you can take to streamline the selling process and maximize your returns.
From <a href="https://www.calgary.com/sellers/pricing-your-home/">setting the right price</a> to preparing your property for sale, each step plays a crucial role in ensuring a successful transaction. Stay tuned for valuable insights and tips on navigating the sale of your rental property effectively.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />How to Sell Your Tenant-Occupied Rental Property in Alberta
When selling your rental property in Alberta, it's crucial to fully understand the lease terms and regulations that govern the process. Specific laws and rules in Alberta dictate leases, so knowing whether you have a fixed-term or month-to-month lease is essential
Breaking a fixed-term lease without a tenant agreement isn't permissible, but you can provide 90 days' notice for ending a month-to-month lease. Consider how these terms may impact potential buyers when listing your property.
It's important to be aware of the legal obligations under the <a href="https://www.servicealberta.ca/RTA-handbook-and-quick-reference-guide.cfm?source=post_page—————————————-" target="_blank">Residential Tenancy Act</a> to ensure compliance and avoid any legal repercussions. Seeking legal advice in complex situations is advisable to navigate any potential issues smoothly.
Signs You Should Sell Your Rental Property
If your rental property is no longer profitable, requires too many expensive repairs, or the market conditions are favourable for selling—it might be time to consider selling. Additionally, if you've earned enough passive income to fund a new investment or tenant-related issues are causing stress or financial strain, these are signs that selling could be a wise decision. Evaluating these factors can help you determine if now is the right time to sell your rental property.
It's No Longer Profitable
Consider these signs as indicators that selling your rental property may be the best course of action when it's no longer profitable. If you find that your rental income is declining compared to expenses, or if high vacancy rates make it difficult to attract tenants, it might be time to sell.
Additionally, if maintenance costs are becoming overwhelming and eating into your profits, it could be wise to sell. Changes in the real estate market affecting property values or personal financial goals, such as needing to free up capital, are also compelling reasons to consider selling your rental property.
Too Many Expensive Repairs
If you notice that the cost of repairs for your rental property outweighs the potential rental income, it might be a clear sign that <a href="https://www.calgary.com/blog/how-to-sell-a-house-as-is/">selling the property as-is</a> could be the best decision. High repair costs can eat into your profits, causing financial strain.
Selling the property can help you avoid ongoing maintenance expenses and improve your overall financial health. By calculating repair costs against rental income, you can determine if selling is a more viable option.
Opting to sell a property with extensive repair needs can also free up capital for other investments or ventures. Consider the financial impact of the repairs on your rental income to make an informed decision about selling your rental property.
The Market Conditions Are Good
When evaluating whether to sell your any property, pay close attention to the current market conditions—they can serve as key indicators of the optimal timing for a sale. Low inventory levels and high demand in the real estate market often suggest a good time to sell.
Rising property prices and competitive bidding wars create favourable conditions for selling a rental property. Additionally, times with low interest rates can attract more buyers. Strong job growth and economic stability in the property's region may also signal a good opportunity to sell.
Of course, selling conditions can't always be perfect. When <a href="https://www.calgary.com/blog/what-to-expect-when-selling-a-home-in-a-buyers-market/">selling in a buyers' market</a>, you can consult a real estate professional who can provide valuable insights on selling your property.
You've Earned Enough Passive Income to Fund a New Investment
Earning sufficient passive income to fund a new investment could indicate it's the right time to move on to a new venture. If your rental property has consistently generated profits that align with your investment goals, it might be a sign to consider selling.
Analyze the financial performance to ensure it meets your expectations and evaluate the property's current market value. Assessing these factors can help you determine the potential profit from selling. Reflect on your long-term investment strategy and whether selling aligns with your financial objectives. Seek advice from financial advisors and real estate professionals to strategize the best timing and approach for selling your rental property.
Capital Gains Tax When Selling a Rental
The <a href="https://wowa.ca/calculators/capital-gain-tax" style="text-decoration: none;" target="_blank">capital gains tax</a> on selling a rental property is a crucial consideration for property owners. When you sell a rental property, the taxable capital gain is determined by taking half of the profit made from the sale.
If you jointly own the property with a spouse or partner, the taxable capital gain can be divided between both owners. The mortgage balance doesn't directly impact the calculation of capital gains tax.
Each spouse listed on the title must report their share of the capital gain, with tax rates based on individual income brackets. Deductible expenses for rental properties such as interest, property tax, insurance, and maintenance costs can help reduce the overall taxable gain. However, remember that the principal portion of mortgage payments isn't included in these deductible expenses. Understanding these tax implications can aid in making informed decisions when selling your rental property.
Successfully Selling Your Rental Property
Selling a rental property requires careful consideration of tenant rights and obligations, as well as adherence to regulations and maintaining positive relationships. As a landlord, it is also important to provide proper notice. With all of this optimized, you can successfully sell your rental property. With proper planning and execution, you can achieve a smooth and successful sale. Consult with a real estate professional for insights into current market conditions. This insight helps determine if it's advantageous to sell your rental property. With this new knowledge, you'll be better equipped to <a href="https://www.calgary.com/blog/step-by-step-guide-to-selling/">sell your home</a>.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2024-03-13T09:05:00-07:002024-03-13T09:13:00-07:00Justin Havretag:calgary.com,2012-09-20:22458How Does a Vendor Take Back Mortgage Work? 9 Tips For Vendor Financing Home Sales<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/pros-and-cons-of-vendor-financing-home-selling.jpg" alt="How to Sell a Home With Vendor Take-Back Mortgage" width="475" />Ever wonder about the potential benefits of utilizing a vendor take-back mortgage as a home seller? This alternative financing approach can offer a unique way to attract buyers and can help <a href="https://www.calgary.com/blog/stress-of-selling-a-house/">take the stress out of selling a home</a> when done correctly. And while it comes with its own set of risks, the pros may outweigh the cons in certain situations.
For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.<br /><br />How Does a Vendor Take-Back Mortgage Work?
A vendor take-back mortgage works by the home seller providing financing to the buyer for a portion of the property's purchase price. Essentially, the seller acts as a lender, allowing the home buyer to make payments directly to them instead of a traditional mortgage lender.
This type of arrangement can be beneficial for buyers who may not qualify for a conventional loan due to factors like bad credit, a suboptimal <a href="https://www.calgary.com/blog/what-is-debt-to-income-ratio/">debt-to-income ratio</a> or a low down payment. That said, the seller typically sets the interest rate on a vendor take-back mortgage—and it may be higher than what a bank offers. However, this option provides an alternative means of securing financing to purchase the property.
It's important to note that the <a href="https://www.calgary.com/blog/selling-a-house-with-a-lien/">seller retains a lien on the property</a> until the vendor take-back mortgage is fully repaid. As such, if the home buyer defaults on payments, the seller has the right to foreclose on the property, similar to a traditional lender.
Advantages of Vendor Take-Back Mortgages For Sellers
When considering a vendor take-back mortgage, it's worth exploring the potential to spread out the capital gains obligation over time. Offering this financing option could provide an opportunity for a high-yield investment compared to traditional avenues.
Additionally, facilitating a faster sale through vendor take-back mortgages can be advantageous in a competitive real estate market.
Spread Out Capital Gains Obligation
By utilizing a vendor take-back mortgage, a seller can effectively spread out their capital gains tax obligations over time, reducing the immediate tax burden. This strategy allows the seller to defer capital gains taxes, enabling them to manage their tax liabilities more efficiently.
For commercial properties, sellers can extend their capital gains tax liability over five years by leveraging vendor take-back mortgages. Moreover, these mortgages provide tax rate stability even when spreading out capital gains over multiple years.
High-Yield Investment Potential
With the potential for higher interest rates compared to traditional investments, vendor take-back mortgages may offer sellers a lucrative opportunity. By providing financing to buyers, sellers can earn additional income through interest payments over the loan term. This high-yield investment potential allows sellers to diversify their portfolios and potentially see greater financial gains. It's advantageous compared to a <a href="https://www.calgary.com/blog/is-a-reverse-mortgage-a-good-idea/">reverse mortgage</a> in some cases because the seller earns money instead of owing it.
Moreover, offering vendor take-back mortgages can attract more potential buyers, leading to quicker property sales and a faster return on investment. The seller's ability to negotiate terms that align with their financial objectives provides flexibility over the investment process. Consider the advantages of vendor take-back mortgages to maximize returns on a property sale.
Can Facilitate a Faster Sale
Consider how vendor take-back mortgages can potentially facilitate faster property sales while earning the seller additional income.
By offering this financing option, a seller can appeal to buyers who may not qualify for traditional loans, expanding the pool of interested parties and increasing the likelihood of a quick sale. This strategy may help a property stand out in a competitive market, leading to a more efficient closure.
Additionally, earning interest on the loan provided can generate extra income from the property sale. Utilizing a vendor take-back mortgage may also enable the seller to negotiate better terms and conditions, streamlining the sales transaction for a smoother experience overall.
Disadvantages of Vendor Take-Back Mortgages For Sellers
When considering vendor take-back mortgages, sellers should be aware of potential delays in receiving full payment for the property. Additionally, there's a higher risk of default, which could lead to the loss of the property if the buyer fails to make payments.
These disadvantages highlight the importance of carefully evaluating the risks and benefits of offering seller financing.
Delayed Earnings
For sellers, one significant drawback of vendor take-back mortgages is delayed earnings. Instead of receiving a lump sum at closing, sellers receive mortgage payments over time.
This delay can impact the seller's immediate cash flow and financial plans, as they have to wait for the full repayment of the vendor take-back mortgage to access the total proceeds from the property sale. The gradual payment structure may hinder the seller from using the full sale amount for other investments or <a href="https://www.calgary.com/blog/how-much-will-you-have-to-pay-to-sell-your-home/">home-selling expenses</a>.
Risk of Default
When opting for a vendor take-back mortgage, be aware of the substantial risk of default that could potentially lead to income loss and property complications. Default risk in vendor take-back mortgages exposes sellers to the possibility of losing out on expected payments and facing challenges in reclaiming the property.
In the case of a buyer defaulting on payments, sellers may encounter legal proceedings, foreclosure processes, and additional costs. It's crucial for sellers to thoroughly evaluate a potential buyer's financial stability and creditworthiness to reduce the likelihood of default.
Default situations can result in financial strain, prolonged legal battles, and uncertainties regarding property ownership, making it essential for sellers to carefully consider the risks involved before offering vendor take-back mortgages.
Tips For Successful Vendor-Financed Sales
When considering vendor-financed sales, seek advice from real estate professionals to navigate the process smoothly.
Ideally, sellers should choose a trusted buyer to ensure a successful transaction and minimize risks—but they should also plan for non-payment situations to protect their interests.
Get Advice From Real Estate Professionals
<a href="https://www.calgary.com/blog/choosing-real-estate-agent-to-sell-your-home/">Choose the best seller's agent</a> to gain valuable insights on successful vendor-financed sales strategies. By tapping into their expertise, sellers can understand the nuances of offering vendor take-back mortgages, including the associated benefits and risks.
Seek guidance on structuring deals effectively to attract potential buyers and foster quicker property transactions. Real estate professionals can illustrate the impact of interest rates and repayment terms, allowing home sellers to optimize their returns from vendor-financed deals.
Additionally, exploring creative financing options with their assistance can enhance a property's marketability and sales potential.
Choose a Trustworthy Buyer
To ensure a successful vendor-financed sale, conduct thorough background checks and assess buyers' financial stability. Request financial documentation like credit reports and income statements to evaluate a buyer's ability to meet payments on a vendor take-back mortgage. Verify their employment stability and income sources to understand their long-term financial capacity for fulfilling the agreement.
Consider requesting a down payment to show commitment and reduce risk. Openly communicate the terms and conditions of the vendor take-back mortgage to establish trust and clarity in the sales process.
By choosing a reliable buyer, a home seller can minimize risks and increase the likelihood of a smooth vendor-financed sale.
Have a Plan For Non-Payment
Consider implementing safeguards in vendor-financed sales with a well-defined plan for addressing non-payment situations. When offering vendor take-back mortgages, it's crucial to have a clear strategy in place to handle potential defaults.
Explore legal protections and mechanisms that can help effectively manage buyer non-payment issues. Implement measures like property liens or foreclosure processes before payment problems arise.
Collaborate with legal professionals to create comprehensive agreements that outline the consequences of non-payment. By understanding the risks associated with non-payment scenarios and preparing mitigation strategies, a seller can navigate these and other challenges.
Weigh the Pros and Cons of a Vendor Take-Back Mortgage
Simply put, think of a vendor take-back mortgage as a creative option when <a href="https://www.calgary.com/blog/step-by-step-guide-to-selling/">selling your house</a>. While risks are involved, this unique financial tool can open up new possibilities—for both parties. Explore the ins and outs of this innovative financing solution to achieve a mutually beneficial real estate transaction.
For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.2024-03-13T07:52:04-07:002024-03-13T08:00:06-07:00Justin Havretag:calgary.com,2012-09-20:18614Calgary Cost of Living: A Comprehensive Guide to Expenses in 2024<img src="https://assets.site-static.com/userfiles/4845/image/calgary-col-header.jpg" style="display: block; margin: 20px auto;" alt="How Expensive Is It to Live in Calgary?" />
Are you planning your finances for <a href="https://www.calgary.com/blog/moving-to-calgary-ab/">moving to Calgary</a>? This guide provides an objective look at the Calgary cost of living, focusing on housing, daily expenses, and taxes. Gain a clear understanding of the costs that will affect your budget in one of Canada’s most economically vibrant cities.
Valuable Insights
The Calgary housing market offers a variety of reasonably affordable living options, with the average rent ranging from $1,200 to $3,000 per month. For single-family homes, that price range varies between about $300,000 and upwards of $9 million.
Daily living expenses in Calgary are typically manageable, with average monthly costs for food at $500 for an individual and basic utilities around $350 for a standard apartment, complemented by affordable public transportation options.
Calgary provides various lifestyle and recreational activities catered to diverse budgets, publicly funded healthcare with an option for additional private insurance, and education choices ranging from public schooling to more costly private education.
Navigating Housing Costs in Calgary
<img src="https://assets.site-static.com/userfiles/4845/image/calgary-col-housing.jpg" style="display: block; margin: 20px auto;" alt="Median Home Price in Calgary" />
The Calgary housing market offers an impressive variety of options, catering to different budgets and lifestyles. However, examining the specifics can provide a clearer picture.
The Price of Homeownership
Stepping into homeownership in Calgary can be a worthwhile investment, with the city’s affordability even extending to this aspect of living. The home prices for single-family homes, <a href="https://www.calgary.com/townhouses/" title="Calgary Townhomes for Sale">townhouses</a>, and <a href="https://www.calgary.com/calgary-condos-lofts/" title="Calgary Condos for Sale">condos</a> can range anywhere from the mid-$100s for small units to upwards of $9 million for the most expensive <a href="https://www.calgary.com/luxury-homes/" title="Calgary Luxury Homes for Sale">luxury homes</a>.
The median home price in Calgary is about $640,000. Compare this to Vancouver’s $1.1-million-plus and Toronto’s $1.2-million-plus and you can see why so many people are moving to Alberta’s biggest city!
Observing the city’s housing market trends is also crucial. Home prices have increased in recent years, in part because of the wave of immigration to Alberta. These trends, coupled with property tax adjustments and the absence of municipal or provincial land transfer taxes in Alberta, play a significant role in shaping the cost of homeownership in Calgary.
Renting in Calgary
Calgary offers a wide variety of rental options. Rent in Calgary typically ranges from just shy of $1,200 to over $3,000 per month.
Median rent for a studio apartment is about $1,625
One-bedroom units are about $1,960
Two-bedroom units are about $2,260
Four bedrooms and up typically exceed $4,500
Whether you’re renting as an individual or have a large household, Calgary, like other major cities, has rental options to suit your needs.
Daily Living Expenses in Calgary
From food and groceries to utilities and transportation, understanding daily expenses can give you a more complete picture of what life in Calgary might cost you.
Food and Groceries
The pricing for food and groceries in Calgary is fairly reasonable compared to national averages, with the average monthly food bill in Calgary coming in at around $500 for a single person. This can, of course, vary based on individual eating habits and preferences.
Utilities Breakdown
Utilities are another essential component of daily living expenses. The average monthly cost for basic utilities like electricity, heating, cooling, water, and garbage for a smaller apartment in Calgary stands at approximately $350. This includes essential amenities for daily living.
Natural gas, a primary energy source for home heating in Calgary, is both affordable and abundant in Calgary due to the prominence of the oil and gas industry in <a href="https://www.calgary.com/blog/calgary-ab-economy/">Calgary’s economy</a>. Monthly utility costs for a typical two-bedroom apartment in Calgary may include gas costs and other expenses:
Natural gas
Water
Electricity
These estimated monthly costs may vary depending on factors such as the size of the apartment and individual usage.
Transportation Options
Calgary offers affordable transportation options for both buses and the CTrain, making commuting hassle-free. Calgary Transit’s fares include:
Single rides for $3.70 (kids 12 and under ride free)
Daily passes for $11.60
Monthly passes for $115
There are multiple categories of discounts for riders available, and leashed dogs ride free on public transit.
Average car insurance premiums in Calgary are about $1,250 per year, and gas prices are typically around 145 cents per litre.
Lifestyle and Entertainment in Calgary
Apart from the essentials, the cost of lifestyle and entertainment options also adds to the overall cost of living. In Calgary, these options vary widely, offering something for everyone, from foodies and night owls to sports enthusiasts and cinema lovers, similar to other major cities.
Dining Out and Nightlife
<img src="https://assets.site-static.com/userfiles/4845/image/calgary-col-nightlife.jpg" style="display: block; margin: 20px auto;" alt="Calgary Nightlife" />
Calgary’s dining scene offers a diverse array of options to suit different budgets. Whether you’re in the mood for a casual fast-food meal or a more upscale dining experience, you’ll find a range of prices to match your preferences.
Free entertainment options in Calgary (beyond its many parks and green spaces, of course!) include the Alberta University of the Arts gallery spaces, museums like Glenbow at the Edison, and a plethora of free festivals, including Value Days during the Calgary Stampede, the <a href="https://www.calgary.com/blog/where-are-the-best-summer-festivals-in-calgary/">4th Street Lilac Festival</a>, and the month-long Alberta Culture Days celebrations. Do some exploring and you can find many <a href="https://www.calgary.com/blog/category/things-to-do-in-calgary/">things to do in Calgary</a> on the cheap!
Recreational Activities
When it comes to recreational activities, Calgary offers a myriad of options. Whether you prefer hitting the gym, playing golf, or joining a sports league, you’ll find a range of expenses to suit your lifestyle.
The average cost for a monthly gym membership falls between $50 and $150, offering an accessible option for those looking to maintain a fitness routine. Golf enthusiasts can expect to pay an average of $20 to $80 for a round of golf, with prices varying depending on the course and time of the week.
Calgary's Tax Landscape
Understanding the tax landscape is a key component of calculating the cost of living in a city. In Calgary, residents benefit from Alberta’s low provincial tax rate and the absence of additional provincial sales tax.
Sales Taxes in Perspective
In Calgary, sales taxes are limited to the federally administered Goods and Services Tax (GST) of 5%, with no additional provincial sales tax. This sets Calgary apart from many other major Canadian cities that also charge a Provincial Sales Tax (PST) or a Harmonized Sales Tax (HST), leading to higher overall sales taxes.
Essential items, such as groceries, are exempt from GST when purchased at grocery and convenience stores in Calgary. Therefore, the absence of additional provincial sales taxes can help you save money on daily purchases compared to cities with higher sales tax rates.
Property Taxes and Incentives
Property taxes are another crucial factor to consider when purchasing a home. The residential property tax rate is comprised of a municipal tax rate and an education tax rate.
<a target="_blank" href="https://wowa.ca/taxes/calgary-property-tax">Property taxes in Calgary</a> are projected to increase at an average annual rate of 3.7% through 2026. While there was a decision against implementing a one-time property tax rebate, discussions around incentives remain relevant for homeowners seeking relief.
It’s also worth noting that in Alberta, there is no land transfer tax, which is an additional financial consideration for those involved in buying a <a href="https://www.calgary.com/real-estate/">home for sale in Calgary</a>.
Healthcare and Insurance Costs
Healthcare and insurance costs are a significant part of any budget. In Calgary, these costs include public healthcare coverage and optional private insurance for additional services.
Public Healthcare System
<img src="https://assets.site-static.com/userfiles/4845/image/calgary-col-healthcare.jpg" style="display: block; margin: 20px auto;" alt="Alberta Has Free Healthcare, but Private Insurance May Be Required" />
Public healthcare coverage in Alberta, funded through taxes, includes doctor visits, diagnostic procedures, and hospital stays. As part of Canada’s universal health care system, this coverage guarantees basic health coverage to all residents.
To <a target="_blank" href="https://www.alberta.ca/ahcip-how-to-apply">access these healthcare benefits</a>, residents use a health card issued by the province. This card is essential to receive healthcare services covered by the public system. To apply for this healthcare coverage, residents need to visit a registry agency with the appropriate documentation and can expect to receive their healthcare card only a few weeks after applying.
Private Insurance Options
While the public health insurance in Alberta generally covers emergency medical services and most healthcare services, there are areas like medication, dental care, and other non-emergency services that are typically not covered. Private health insurance serves to fill this gap. It offers additional coverage for services such as:
vision care
dental care
physiotherapy
prescription medication
Education and Childcare Expenses
Education and childcare can easily be significant expenses in Calgary.
Schooling Costs
The government funds public school education in Calgary. However, parents still need to cover some additional fees for activities and supplies annually.
For those opting for private education, annual tuition can range from $3,200 to over $20,000, depending on the institution’s prestige and level of education provided. Examples of these fees can be seen at Calgary Academy, where a one-time new family initiation fee of $2,500 is charged, and tuition and supplementary funding fees vary.
Childcare Fees
The average monthly cost for daycare services in Calgary ranges from $400 to $900, while after-school care services can vary significantly based on the type of program and provider.
For low-income families, subsidy programs are in place to assist with these childcare costs, potentially reducing the monthly expense significantly.
Ready For Your Move to Calgary?
As we’ve explored, Calgary offers an affordable cost of living across various aspects - from housing and daily living expenses to taxes, healthcare, and education. While the city’s cost of living is significantly lower than other major Canadian cities, it doesn’t compromise on the quality of life, offering residents a vibrant culture, a thriving economy, and a range of lifestyle and entertainment options. Truly, Calgary is a city where affordability and quality of life coexist harmoniously.
Frequently Asked Questions
Is it expensive to live in Calgary?
It depends on your frame of reference. The cost of living in Calgary can be relatively high compared to Alberta’s overall cost of living due to housing and transportation costs, but the high salaries in the city can help offset these expenses. If you’re moving from another province, Calgary’s cost of living may be attractively low.
What salary do you need to live in Calgary?
To live in Calgary, you would need a salary that allows you to earn at least $24 per hour, according to <a target="_blank" href="https://enoughforall.ca/projects/calgarys-living-wage">the living wage</a>. The average salary in Calgary is around $65,300, or around $33.50 per hour.
Is Calgary as expensive as Toronto?
Calgary is generally much less expensive than Toronto, particularly when it comes to housing costs, making it a more affordable city to live in. If you’re deciding between these two cities, you may be interested in checking out <a href="https://www.calgary.com/blog/calgary-vs-toronto/">other comparisons for Calgary vs. Toronto</a>.
2024-03-11T10:31:00-07:002024-03-11T13:10:11-07:00Justin Havretag:calgary.com,2012-09-20:22337Dealing with Cash Offers: A Seller's Handbook<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/sell-for-cash.jpg" alt="Should You Sell Your Home For Cash?" width="475" />Do you need a fast, easy home sale? Selling your house for cash might be the solution you're seeking. The convenience of bypassing lengthy approval processes and enjoying a direct sale is enticing, but there are crucial aspects home sellers need to know before diving in. Learn about the pros and cons of selling a home for cash to determine if it's the right choice for you.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />How to Sell Your Home For Cash
Selling a home for cash is similar to <a href="https://www.calgary.com/blog/step-by-step-guide-to-selling/" title="Home Selling Process">a traditional home sale</a>. However, these fundamental differences highlight what sellers should expect if they review offers from cash buyers.
Find Out How Much Your Home Is Worth
Determining the value of your home is a crucial step in preparing to sell it for cash. Factors such as your home's location, condition, and current market trends significantly assess its cash worth.
Consider professional appraisals and comparative market analysis to determine the fair market value accurately. If you’re not sure where to start, <a href="https://www.calgary.com/sellers/free-market-analysis/">we offer a free market analysis</a> to help your estimate. <a href="https://www.calgary.com/blog/is-your-home-priced-to-sell/">Pricing your home correctly</a> is essential to attract cash buyers and secure competitive offers.
Understanding the worth of your home empowers you to negotiate effectively and make informed decisions throughout the cash sale process. By knowing the value of your property, you can set realistic expectations and maximize the potential of selling your home for cash efficiently.
Connect With Cash Buyers
To successfully sell your home for cash, your next step is connecting with potential cash buyers, whether they are individuals or companies. You can contact real estate investors, attend local property auctions, or explore online platforms specializing in cash home sales. These buyers are often ready to make offers quickly and can provide a straightforward process without mortgage complications.
Remember that while cash transactions simplify the sale and speed up the process, they typically result in lower sale prices than traditional listings. Engaging with cash buyers may involve less negotiation but offers the advantage of a faster closing timeline.
Acquire Proof of Funds Before Selling
Before proceeding with the sale of your home for cash, obtaining proof of funds from the buyer protects you from an illegitimate offer. Acquiring proof of funds is critical in cash sales as it verifies the buyer's financial capability to complete the purchase without delays or complications.
This verification protects sellers from potential risks such as dealing with fraudulent buyers or failed transactions. By requesting proof of funds upfront, you can streamline the selling process and proceed confidently, knowing that the buyer has the necessary financial resources to buy your home in cash.
When to Sell Your House For Cash
If you need to sell quickly or prefer to sell your home as-is without making repairs, opting for a cash sale is one of your best options. Selling for cash allows for a swift transaction without the delays often associated with mortgage approvals and home inspections. This straightforward approach might suit your situation if you want to simplify the selling process and secure funds promptly.
You Need to Sell Quickly
Sometimes, waiting around for the <a href="https://www.calgary.com/blog/how-to-really-know-when-to-sell-your-home/">best time to sell a house</a> isn’t an option. When urgency is paramount, selling your house for cash becomes the optimal choice. Cash sales can close in as little as 7 to 10 days, providing immediate relief for sellers in time-sensitive situations.
Quick cash transactions eliminate the lengthy <a target="_blank" href="https://www.rocketmortgage.com/learn/mortgage-loan-process">process of mortgage approvals</a>, making it suitable for sellers with urgent needs. If you're facing foreclosure or need to liquidate assets promptly, selling your house for cash offers a swift solution.
Cash buyers offer a convenient and efficient way to sell your house fast, especially when time is of the essence. This method allows you to expedite the sale process and quickly access the funds you require in urgent scenarios.
You Want to Sell As-Is
Sellers interested in <a href="https://www.calgary.com/blog/how-to-sell-a-house-as-is/">selling their home as-is</a> would be wise to consider cash offers. While home renovations can increase the selling price, they also create costly overhead. Finding cash buyers who are willing to purchase homes in any condition saves you time and money on fixing up the property.
By selling your house for cash in its current state, you can skip the stress of <a href="https://www.calgary.com/blog/get-the-upper-hand-by-staging-your-home/">staging your home</a> for showings and open houses. This route offers a quicker and more convenient option for sellers looking to close the deal fast.
Selling your house for cash can help you sidestep the uncertainties associated with traditional home sales. If you prioritize a swift and straightforward selling process over maximizing your sale price, selling as-is for cash could be your right choice.
Pros & Cons of Selling For Cash
When considering selling your house for cash, weighing the advantages and disadvantages is essential. Cash sales can offer a quick and straightforward transaction process, which may result in lower sale prices. Understanding both sides can help you make an informed decision that aligns with your goals.
Advantages of Selling For Cash
Selling your house for cash offers a swift and hassle-free way to unload your property without the usual financing complexities. Cash sales typically close in 7 to 10 days, much faster than traditional mortgage sales, which take around 45 days.
Cash buyers often purchase homes as-is, eliminating the need for costly repairs or staging. Sellers can save between 9% to 10% on closing costs with cash offers compared to traditional sales. Cash transactions also provide immediate relief from ongoing property expenses and holding costs.
Selling for cash can alleviate much of the <a href="https://www.calgary.com/blog/stress-of-selling-a-house/">stress of selling a home</a>.
Disadvantages of Selling For Cash
Sellers opting for cash transactions should be aware that these sales often result in lower sale prices compared to traditional listings. Cash sales typically range from 50% to 70% of the market value, significantly impacting the final amount you receive.
Negotiating prices with cash buyers can also be challenging, as they may offer less room for negotiation than traditional buyers. Unlike traditional listings that attract multiple competitive offers, cash transactions may limit your ability to maximize the sale price.
Additionally, there's a risk of scam artists targeting desperate sellers in cash transactions, emphasizing the importance of thoroughly vetting potential buyers to ensure a secure transaction.
Avoid Scams When Selling For Cash
To steer clear of potential scams when selling your house for cash, it's crucial to vet cash buyers to verify their legitimacy meticulously. Start by checking their credentials, online reviews, and references.
Be wary of any unexpected requests for personal information, upfront fees, or high-pressure tactics from potential buyers. Refrain from signing any documents or transferring funds until you have thoroughly evaluated the buyer and confirmed the transaction's security.
Additionally, educate yourself about common scams that target sellers, such as fake cashiers' checks, wire transfer fraud, or identity theft schemes. To safeguard your interests, consider working with <a href="https://www.calgary.com/about/" title="About the Justin Havre Real Estate Team">reputable real estate professionals</a> or attorneys who can guide you through the cash sale process and provide protection against potential scams.
Is a Cash Offer Best For Your Home Sale?
Selling your house for cash can offer a quick and efficient way to close the deal without the hassle of traditional mortgage processes. While you may receive a lower sale price, the benefits of a swift transaction and avoiding financing complications can make it a worthwhile option. Just be sure to carefully consider the pros and cons before making your decision and watch out for potential scams in the process.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2024-03-06T08:09:14-07:002024-03-06T08:21:19-07:00Justin Havretag:calgary.com,2012-09-20:22323Jobs in Calgary: 2024 Calgary Economy & Industries Guide<img src="/userFiles/4845/image/calgary-economy-guide.jpg" style="display: block; margin: 0 auto 20px auto;" alt="Calgary Economy Guide" />
Much of the appeal of <a href="https://www.calgary.com/blog/moving-to-calgary-ab/">moving to Calgary</a> is due to the high quality of life and extraordinary natural surroundings, but the city’s economy is a draw in and of itself. Investors, professionals, and current and future residents can benefit from a comprehensive analysis of the Calgary economy, focusing on its positions in key industries, infrastructure projects, and technology sectors, providing a clear understanding of what to anticipate.
Key Takeaways
Calgary’s economy is experiencing growth with significant contributions from key sectors like aviation, carbon capture, and food manufacturing, alongside a thriving startup ecosystem valued at $5.2 billion, fueled by strong commodity prices, record population growth, and consumer spending.
The city is proactively overcoming global economic challenges by diversifying industries. This is exemplified by a $7.5 billion digital transformation and over $1 billion in infrastructure and transportation investment to reinforce economic resilience and growth.
Calgary’s commitment to innovation is displayed by its collaborative efforts involving community partners, the presence of more than 760 private tech companies, university R&D collaborations, and support for leading innovators, contributing to its growing reputation as one of the most livable cities in the world.
Calgary's Economic Landscape in 2024
Anchored in Alberta’s rich economic landscape, the Calgary economic region is projected to continue its robust growth. Strong commodity prices, record population growth, <a href="https://www.calgary.com/new-construction-real-estate/">new construction homes in Calgary</a>, and consumer spending have fueled this economic development, reflecting the city’s resilience and potential for advancement. Key sectors such as aviation, carbon capture and utilization, and food manufacturing significantly contribute to Calgary’s economic development.
The thriving startup ecosystem in Calgary, with a valuation of $5.2 billion, reflects the city’s dynamic and innovative business environment. This ecosystem is characterized by its innovative, entrepreneurial, and inclusive nature, attracting diverse industry investments and fostering a business climate ripe with optimism.
Population Growth
Calgary’s population is experiencing rapid growth, demonstrating the city’s economic resilience and capacity for growth. This surge in population prompts higher consumer spending and an enlarged workforce, both of which are key contributors to the city’s vigorous economy.
<a target="_blank" href="https://www.calgaryeconomicdevelopment.com/">Calgary Economic Development</a> meticulously monitors the city’s economic strategy using both qualitative and quantitative indicators provided by sources such as the Economist Intelligence Unit. Metrics such as the participation of newcomers in the economy, education attainment, and quality of life perceptions portray Calgary’s dedication to fostering a vibrant and inclusive economy.
Alberta's Economy and Calgary's Role
The city’s economic strategy tightly aligns with Calgary’s crucial strategies and priorities, exemplifying a holistic approach toward stimulating citywide economic development. This integrated strategy, involving various community members, business leaders, civic partners, and multiple levels of government, works towards reinforcing Calgary’s significant role in Alberta’s economy.
This collaborative initiative and Calgary’s solid economic performance underscores the city’s major role in Alberta’s economy. The city’s significant contribution to Alberta’s projected GDP growth of 2.7% in 2023 and an expected 2.0% in 2024 is a testament to this.
Overcoming Global Economic Headwinds
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Amidst global economic challenges, Calgary has embraced a proactive stance, crafting economic resilience through the cultivation of strong collaborative relationships among its community partners. With streamlined business policies and strategic investments in initiatives such as the Innovation District and trade accelerators, Calgary is creating a more connected city capable of overcoming global challenges.
Diversification of Industries
The diversification efforts, especially within the energy sector, have significantly contributed to reinforcing Calgary’s economic resilience. This diversification can also help prospective residents <a href="https://www.calgary.com/blog/calgary-vs-edmonton-ab/">deciding between Calgary and Edmonton</a>, as the former is further along in the process. A significant digital transformation, representing $7.5 billion in spending by Calgary businesses, is underway and is anticipated to drive growth across diverse industries.
The Opportunity Calgary Investment Fund is fuelling these diversification efforts with a $100 million initiative. This initiative has stimulated a total investment of $800 million, creating more than 3,000 jobs, and supporting over 500 local companies.
Infrastructure and Transportation Investments
The Calgary Municipal Land Corporation is spearheading over $1 billion in developments, reshaping Calgary’s infrastructure for future economic growth. Major projects like the Victoria Park/Stampede Station rebuild and the Sixth Street S.E. underpass—both on the eastern edge of <a href="https://www.calgary.com/city-centre-communities/" title="City Centre Calgary Homes for Sale">Calgary’s City Centre</a>—are intimately tied to the city’s connectivity and its ability to support substantial mixed-use development.
The YYC Calgary International Airport, located in <a href="https://www.calgary.com/north-east-communities/" title="Northeast Calgary Homes for Sale">Northeast Calgary</a> and functioning as an essential hub for transportation and cargo, mirrors Calgary’s leadership position in the transportation and logistics sector. With nearly 5,000 related businesses, the city is well-placed to leverage this strength for future growth.
Calgary's Innovation Ecosystem
The startup ecosystem in Calgary is thriving, as evidenced by the following:
$647 million in venture capital funding across 64 deals in 2022
The substantial presence of more than 760 private tech companies
The city’s global recognition as a nurturing ground for startups, ranking among the top 60 emerging ecosystems.
Innovation in Calgary is propelled by:
Transformational initiatives like the Calgary Innovation District
Strategic investments through the <a target="_blank" href="https://www.opportunitycalgary.com/">Opportunity Calgary Investment Fund (OCIF)</a>
Enhanced innovation infrastructure, including the Entertainment Arts Production Hub funded by OCIF
Living labs
These initiatives and support programs are driving Calgary’s vision of economic transformation through technological progress.
University Collaborations and Research
Business and community leaders in Calgary push for innovation by emphasizing the removal of barriers between sectors. This integration across industries is a driving strategy supported by key stakeholders to bring diverse strengths together in Calgary, fostering the development of big ideas.
Collaborations between universities and businesses in research and development are a result of this strategy. The University of Calgary, located in <a href="https://www.calgary.com/north-west-communities/" title="Northwest Calgary Homes for Sale">Calgary’s Northwest area</a>, is at the forefront of these efforts. These collaborations aim to solve complex problems, propelling Calgary’s economy forward and positioning the city at the forefront of addressing global challenges through innovation.
Business Advantages in Calgary
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Calgary’s economy benefits from the following factors:
Alberta offers the lowest corporate income tax rate in Canada at 8%, positioning Calgary favourably for businesses.
Calgary has over 100 corporate head offices, the most per capita in Canada.
Calgary attracts significant investments from companies like Morgan Stanley, AMD, Cisco, and Infosys.
The ‘Calgary in the New Economy’ strategy aims to reinforce key drivers such as talent, innovation, livability, and a supportive business environment. The affordable median price for single-family detached <a href="https://www.calgary.com/real-estate/">homes in Calgary</a> along with the healthy salaries contributes to the high quality of life for those living in the city.
Future Outlook for Calgary's Economy
Even with a projected slowdown, the economy of Alberta, which includes Calgary, is expected to be one of the most robust in Canada come 2024. Alberta’s economy has shown resilience to inflation and is expected to maintain a lead with strong population growth and a revitalized energy sector.
Optimism remains for Calgary’s business operators in 2024 despite challenges from higher interest rates and potential national economic complications. Calgary’s startup ecosystem is poised for significant expansion, with an expectation of 1,000 new tech companies by 2030.
Municipal Government Initiatives
The ‘Calgary in the New Economy’ strategy developed by Calgary Economic Development paves the way for the city to achieve enduring prosperity. This is achieved by prioritizing economic diversification and the construction of an all-inclusive, accessible economy. In pursuit of the strategy’s goals, Calgary successfully attracted, expanded, or retained 61 companies in 2022, bolstering economic diversification and innovation.
Collaborative initiatives like the <a target="_blank" href="https://pathwaysalliance.ca/">Pathways Alliance</a> are seeking to create a net-zero economy, with projections suggesting a $61 billion boost by 2050, demonstrating Calgary’s integral role in Alberta’s broader economic strategy. The municipal government’s efforts include support for key sectors like energy, agriculture, and natural resources, strengthening Calgary’s economic resilience against national economic challenges.
Economic Optimism in Calgary
Calgary’s economy in 2024 is a dynamic blend of growth, resilience, and innovation. The optimism surrounding the city’s economy can be seen and felt throughout <a href="https://www.calgary.com/blog/best-neighbourhoods-calgary-ab/">Calgary’s best neighbourhoods</a>. With a projected GDP growth of 3.7%, Calgary is thriving amidst global economic headwinds, thanks to a record-shattering population growth, a diversified economy, and a robust startup ecosystem.
Frequently Asked Questions
Why is Calgary so important?
Calgary is important due to its role as the financial center of Western Canada and its significant contribution to the development of the region's oil and gas industry. Its iconic backdrop, history in cattle ranching, and association with oil exploration make it one of Canada's most recognizable cities.
What industry is Calgary known for?
Calgary is known for being an energy city and is recognized as a leader in the global energy transition, with Alberta being Canada's largest oil and natural gas producer. It also has significant wind, solar, bioenergy, and geothermal resources.
Does Alberta have a strong economy?
Yes, Alberta has a strong economy, with the highest GDP per capita among Canadian provinces in 2022, driven by natural resource wealth and high output in mining, quarrying, and oil and gas extraction sectors.
What does Calgary Economic Development do?
Calgary Economic Development promotes Calgary as the location of choice for people, investment, and business, aiming to position the city for long-term economic success and shared prosperity for all.
2024-03-05T10:50:00-07:002024-03-05T11:09:30-07:00Justin Havretag:calgary.com,2012-09-20:22300Why is Selling a House So Stressful? Top Strategies to Alleviate the Stress of Selling a House<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/home-selling-stress.jpg" alt="How to Reduce Stress When Selling a Home" width="475" />Facing the stress of selling a house can unnerve even the most seasoned homeowner. It’s a period riddled with questions, decisions, and unexpected challenges. Cut through the complexity with these direct, actionable steps to alleviate stress and navigate the sale of your home with confidence. Explore top strategies for pricing, staging, timing, and more, designed to provide the clarity and control needed to <a href="https://www.calgary.com/blog/step-by-step-guide-to-selling/">master the art of home selling</a>.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />Key Points
Emotional preparation and stress management are crucial in the home selling process, with understanding the emotional toll, recognizing stress triggers, and managing emotional investment being key factors.
Setting the right price aligned with market expectations and being ready to adapt based on market feedback are essential for a smooth selling experience, with real estate agent guidance playing a pivotal role.
Preparation of the home for sale should focus on high-impact improvements, efficient staging, and maintaining a clean presentation while leveraging professional help and establishing a showing routine to manage stress.
Understanding the Emotional Toll of Home Selling
The home-selling process is more than just a series of transactions; it’s a significant life event laden with emotional weight, and underestimating the scope of the process is one of the most <a href="https://www.calgary.com/blog/selling-your-calgary-house-avoid-these-costly-mistakes/">common home-selling mistakes</a>. The attachment to a beloved home, anxiety over timelines, and the pressure of financial decisions are just the tip of the iceberg. Understanding that you’re not alone in this emotional whirlwind is the first step towards regaining your equilibrium.
Recognizing Stress Triggers
Financial concerns, timing, and emotional attachment are the main stress triggers lurking in the shadows of the selling process. It’s not uncommon for sellers to stress over securing their desired selling price, with many having to adjust their expectations in response to market feedback. The clock’s ticking can also escalate anxiety, especially when there’s a need for a fast or slow sale within a specific timeframe.
And let’s not overlook the profound emotional investment in a place that has been more than just walls and a roof, but a canvas of memories.
Managing Emotional Investment
Gaining clarity on why you’re moving is an effective way to ease the emotional hold. Whether it’s a lifestyle change or financial reasons, understanding your motives can facilitate letting go.
Envisioning your life in a new environment can help you shift your emotional attachment from the old to the new, smoothing the transition.
Navigating Price Setting and Market Expectations
Establishing the correct asking price from the beginning is crucial to reducing stress. It’s a delicate balance informed by local market conditions such as how long homes are staying on the market and the sales-to-listing ratio. Sometimes, <a href="https://www.calgary.com/blog/is-your-home-priced-to-sell/">setting your price</a> just a tad below market value can stimulate a flurry of interest, potentially triggering a bidding war, which could culminate in a quicker sale. An experienced real estate agent becomes invaluable here, providing an accurate pricing strategy based on a professional analysis of the market.
Overpricing can be a costly misstep, deterring potential buyers and leading to a protracted sales process, which may result in a lower average cost recouped.
Adjusting to Market Feedback
The market is a fickle beast, and adherence to initial pricing can be a recipe for stagnation. Be prepared to pivot if your property doesn’t pique the interest you anticipated or if the offers are coming in too low. Whether you find yourself in a seller’s market with homes selling above list price or a buyer’s market requiring competitive pricing, your strategy must be fluid, adapting to the prevailing winds of market trends.
Consistent, evidence-based counsel from your real estate agent is essential in this ever-changing landscape, making sure you’re always informed about when and how to adapt.
Preparing Your Home Without Getting Overwhelmed
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Getting your home ready for sale doesn’t have to be a long journey of renovations that stress you out even more. Small updates can be equally transformative without the associated stress or financial burden. Decluttering not only simplifies the moving process but also helps in emotionally detaching from the space.
The goal is to boost your home’s appeal through intelligent, high-return investments rather than major renovations. Starting early is key to avoiding the last-minute frenzy of updates and repairs.
Prioritizing High-Impact Improvements
Focus your energy and budget on improvements that pack a punch like a fresh coat of paint, updated fixtures, and modernizing the kitchen and bathrooms.
These improvements can significantly increase your home’s resale value and leave a lasting impression on potential buyers. And don’t underestimate the power of curb appeal; a manicured lawn and a welcoming front door can be the difference between a drive-by and a walk-through.
Staging for Success
<a href="https://www.calgary.com/blog/get-the-upper-hand-by-staging-your-home/">Staging your home</a> is the magic trick in the selling process, using strategic decluttering and furniture arrangement to highlight each room’s potential, helping buyers see themselves living in the space. Some key staging techniques include:
Using neutral wall colours as a blank canvas
Using mirrors and lighting to create the illusion of space
Removing personal items to depersonalize the home and broaden its appeal
These techniques can greatly enhance the presentation of your home and increase its chances of selling quickly.
The objective is to create a clean, sanitized, and neutral environment that appeals to a broad range of tastes.
The Art of Timing: Synchronizing Sale and Purchase
The fear of selling before you have a new home or the anxiety of a home lingering on the market can unnerve even the most stoic sellers. Finding the <a href="https://www.calgary.com/blog/how-to-really-know-when-to-sell-your-home/">best time for a home sale</a> and purchase requires a delicate balance of strategy and patience.
The decision to sell first or buy first is a strategic one, influenced by market conditions and your financial landscape.
Crafting a Very Strategic Timeline
A strategic timeline for selling your home should include the following steps:
Collaborate with a real estate professional to outline a plan that accounts for market trends and personal circumstances.
Start early, giving yourself a 3-6 month cushion to prepare your home for listing.
Consider the timing of your sale and the local market’s rhythms, aiming to hit the market when it’s most advantageous.
By following this timeline, you can navigate the real estate market more effectively and increase your chances of a successful sale. For those wary of selling too quickly, exploring options like contracting on a new build can offer a structured timeline and peace of mind.
Leveraging Rental Options
A short-term rental can be a safety net, providing the flexibility to navigate the interim between selling and buying with less pressure. It’s a strategy that allows you to breathe, make calculated decisions, and wait for the right opportunity to arise in the housing market.
Month-to-month rentals and ‘rent-back’ agreements are options that afford you this precious time without the commitment of a long-term lease, and few townhome rental agencies offer such flexibility.
Selecting a Quality Real Estate Agent
The right qualified real estate agent is a linchpin in the home selling process, often making the difference between a fast, profitable sale and a drawn-out ordeal. <a href="https://www.calgary.com/blog/choosing-real-estate-agent-to-sell-your-home/">Choosing the right real estate agent</a> brings not only market savvy, but also a network of stagers, attorneys, and other professionals who can streamline the transaction.
Steps to Find a Top Selling Agent
Look for agents with a robust portfolio in your area, indicating both experience and a strong community presence. Personal referrals and interviews with multiple candidates will also guide you to the right fit, ensuring your chosen agent’s approach aligns with your sale objectives.
In evaluating a potential agent, consider the following factors:
Verify their license and look for any special training or certifications that suit your specific needs.
Performance metrics like listings, transactions, and market share are tangible indicators of an agent’s capability.
A top agent’s track record of selling homes for higher prices and their contribution to their brokerage’s success are hallmarks of professional expertise.
Fostering Effective Communication
Maintaining open and consistent communication with your real estate agent binds the selling process together. It ensures you’re on the same page, preventing misunderstandings and scheduling snafus. A good agent will keep you updated on market changes and guide you through the intricacies of the legal aspects of home selling, ensuring you’re well-informed every step of the way.
Setting Clear Expectations
Laying the groundwork for a successful sale begins by setting clear expectations. Communicate your priorities, whether it’s a quick sale or maximizing profit, to enable your agent to customize their strategy. Understanding the transaction process from the onset can prevent potential roadblocks from becoming major stumbling blocks—especially for <a href="https://www.calgary.com/blog/tips-for-first-time-home-sellers-to-sell-their-first-home/">first-time home sellers</a>.
Maintaining Regular Updates
Maintaining a regular schedule of updates and check-ins with your agent helps to manage anxiety. An agent committed to providing status updates every few days fosters a sense of partnership, reducing stress and keeping you engaged in the process.
Organizing for Low-Stress Showings
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While planning for showings can induce stress, it doesn’t necessarily have to. A real estate agent who understands the importance of vetting potential buyers and clearly communicating showing protocols can make all the difference.
A well-prepared property combined with a positive atmosphere can simplify showings.
Creating a Showing Routine
Maintaining a pre-showing routine is your secret tool for easily keeping your home ready for presentation. Simple tactics like quick tidying methods can make the preparation process more efficient.
Staying involved and informed about the selling process can help you maintain control and reduce the emotional toll during showings.
Engaging Professional Help
Professional cleaners take the heavy lifting off your shoulders, ensuring every nook and cranny gleams for potential buyers. This level of pristine presentation can be a game-changer during <a href="https://www.calgary.com/blog/showing-tips-for-your-next-open-house/">home showings</a>, and employing a cleaning service allows you to focus on other aspects of the selling process, thus reducing the burden on your shoulders.
Dealing with Buyer Negotiations Confidently
Negotiating with buyers can sometimes resemble a high-stakes game. A quality real estate agent will be your coach, equipping you with effective strategies to navigate these waters.
Techniques such as maintaining the list price in your first counteroffer or strategically managing the buyer’s closing costs can convey confidence and strength in your position.
Empowering Yourself with Knowledge
Knowledge is power in negotiations. Here are some tips to help you prepare and make informed decisions:
Understand the intricacies of your property and the market conditions.
Set clear objectives for what you want to achieve.
Be patient and don’t rush into any decisions.
By following these tips, you can have an upper hand in negotiations and increase your chances of success.
Having comprehensive knowledge about the selling process can greatly reduce stress, equipping you to manage the transaction confidently.
Strategies for Handling Offers
When offers start rolling in, flexibility and a focus on practical considerations are crucial. Establish your priorities early on and review contingencies carefully, as they can affect the sale’s trajectory. Gauge the offer’s strength by considering the buyer’s financial position and earnest money, and don’t rush to dismiss the first offer—especially in a competitive market.
Coping Mechanisms for Sellers
Despite the selling process being overwhelming, it’s important to remember that you’re not alone. Leaning on friends for support can offer emotional relief and help maintain perspective.
Engaging in <a target="_blank" href="https://www.goodhousekeeping.com/health/wellness/g25643343/self-care-ideas/">self-care activities</a> like walking, socializing with friends over coffee, or pursuing hobbies can help alleviate stress and safeguard your physical health during stressful life events, such as this significant life transition.
Access Free Expert Advice
Don’t let the stress of selling your home cloud your judgment. Accessing free expert advice can provide a wealth of information, equipping you to tackle the challenges of the selling process with ease and confidence.
Take advantage of the myriad of resources available, ensuring you’re never left to navigate the complexities of home selling alone.
Mindfulness and Self-Care Practices
During the process of selling a house, mindfulness and self-care can serve as your refuge. Practices like focused attention meditation or a quick five-minute mindfulness session can provide mental clarity and resilience. Remember, keeping stress in perspective by focusing on positive outcomes helps to alleviate the emotional toll and keeps you moving forward with optimism.
Take the Stress Out Of the Selling Process
Selling a home is undeniably a complex endeavour, but with the right strategies and a dose of self-care, it needn’t be a stressful one. From recognizing the emotional toll to crafting a strategic timeline and preparing your home for showings to confidently navigating buyer negotiations, each step of the journey can be managed with grace and confidence. Armed with this knowledge and the support of a quality real estate agent, you can transform the process into an empowering experience, culminating in the successful sale of your home.
Frequently Asked Questions
How do I not stress when selling my house?
To minimize stress when selling your house, focus on refreshing instead of renovating, create a low-stress showing system, prepare for different sale paces, practice self-care, and seek expert advice. Remember to take care of yourself during the process.
Why am I so emotional selling my house?
Selling a house can be an emotional experience due to the memories and effort you've invested in it. It's natural to feel a strong attachment and nostalgia when parting with a place that holds so many cherished memories.
What are the hardest months to sell a house?
The best months to sell a house are during the spring season from April to October, as the demand outweighs supply, leading to increased housing prices and faster sales. On the other hand, the worst months are November through March, during the winter, when potential buyers are preoccupied with holiday plans.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2024-03-04T14:08:22-07:002024-03-04T14:26:09-07:00Justin Havretag:calgary.com,2012-09-20:22268Selling Success: How to Choose a Real Estate Agent to Sell Your Home<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/choosing-real-estate-agent.jpg" alt="How to Choose Your Real Estate Agent When Selling Your Home" width="475" />Choosing the right real estate agent to help sell your home is important—choosing wrong could mean leaving thousands of dollars on the table or even failing to sell at all. The right real estate agent can help you navigate the process and avoid <a href="https://www.calgary.com/blog/selling-your-calgary-house-avoid-these-costly-mistakes/">common home-selling mistakes</a>. But, with so many agents out there, how do you pick the best one?
To find the best real estate agent, look closely at things like their experience, how they plan to sell your home, how quickly they respond, what specific services they provide, and how well you get along with them. By paying attention to these details, you can find a good agent and aim for a smooth sale of your home.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />How Does Their Experience Match Your Home?
When selecting a real estate agent to sell your home, assessing how their experience aligns with your property's unique features and selling points is crucial. Many agents choose a particular "niche," whether that's a specific property type or a specific area. Agents with a proven track record of successful sales in your neighbourhood or area are valuable assets. Look for agents who have sold homes similar to yours regarding price range, location, and property type.
This is also why looking for agents with a strong network is a good idea. Choosing a <a href="https://www.calgary.com/about/" title="About the Justin Havre Real Estate Team">real estate team</a> rather than a singular agent means you'll have a better chance to get in contact with someone with the exact experience you're looking for.
Seek out agents with expertise in handling properties with challenges or advantages similar to yours. For example, if you're <a href="https://www.calgary.com/blog/how-to-sell-a-house-as-is/">selling a home as-is</a>, you'll want an agent who's seen it all before and can give you great advice on how your home's condition will affect the sale rather than an agent whose only experience is selling move-in-ready homes.
Choosing an agent who can effectively market and showcase your home's unique qualities based on their previous experience is key. By aligning the agent's expertise with your property's specific characteristics, you increase the likelihood of a successful and smooth selling process.
What's Their Marketing Plan?
A robust <a href="https://www.calgary.com/blog/ways-to-help-market-a-home-for-sale/">marketing strategy</a> is crucial in attracting the right buyers to your home. Look for agents who employ specific tactics such as online advertising, social media promotions, and hosting open house events to maximize exposure. Additionally, ask about the agent's strategies for professional photography, virtual tours, and staging for listing presentations to showcase your property in the best light.
It's essential to discuss how the agent plans to highlight your property's unique features and what methods they will use to attract interested buyers. Tailored plans are best—each home is unique and attracts a different kind of buyer.
Evaluating the agent's track record with marketing homes similar to yours can provide insight into their effectiveness when selling your home. By understanding their marketing plan, you can assess how well they align with your selling goals and reach the right audience for a successful home sale.
How Responsive Are They?
Being responsive is key to evaluating a real estate agent's professionalism and dedication to their clients. Timely responses are crucial in the real estate industry as they can lead to higher client satisfaction and increase the chances of closing a deal successfully. In a competitive market, efficient communication and quick responses can set a real estate agent apart from others.
Not only is quick communication essential for keeping buyers impressed with your home, but it's also important for keeping you informed throughout the selling process. If your agent is slow to respond when you're interested in hiring them, what will their communication look like later?
Another way to gauge an agent is by assessing their website. Is their blog up-to-date? Is it optimized for mobile viewing? Agents who keep on top of their web presence are well-equipped to respond to changing online marketing best practices, ensuring you get the most effective marketing.
What Costs and Services Can You Expect?
Home sellers in Canada can typically expect to pay a total <a href="https://www.calgary.com/blog/how-much-will-you-have-to-pay-to-sell-your-home/" title="Costs Involved in Selling Your Homes">commission fee</a> ranging from 4% to 7% of the final sale price of a home. However, that isn't the only cost to take into account. When working with a real estate agent to sell your home, be sure to ask about:
Commission Structure: Commission rates are negotiable, and agents may offer flexible fee structures based on the specific circumstances of the sale.
Range of Services: Agents provide services such as market analysis, pricing guidance, property marketing, and negotiation support.
Additional Expenses: What does the agent include in their services? Are they budgeting for <a href="https://www.calgary.com/blog/professional-real-estate-photography/">professional real estate photography</a> or planning on taking photos on their own to save money? What about <a href="https://www.calgary.com/blog/get-the-upper-hand-by-staging-your-home/">staging your home</a>? Some services may involve extra costs, so clarifying what additional expenses the agent expects you to cover is essential.
Understanding the breakdown of costs and services upfront is crucial for sellers when selecting a real estate agent to ensure a transparent and mutually beneficial partnership.
Do You Work Well Together?
Sometimes, an agent will have all the qualifications you need, but your personalities won't mesh well—and it's okay to decide against an agent you're uncomfortable with. Compatibility and communication with your agent can significantly impact the overall selling process. When you work well together, it ensures smooth collaboration and effective decision-making throughout <a href="https://www.calgary.com/blog/step-by-step-guide-to-selling/">the home-selling journey</a>.
Understanding each other's expectations and goals is essential for a productive partnership. A harmonious working relationship can produce a positive selling experience and successful outcomes.
To determine if you work well together, consider how you communicate with your agent, whether there is mutual respect, and if there is a shared vision for selling your home. Open and transparent communication is key to fostering a strong working relationship. If you find that you can easily discuss strategies, concerns, and goals with your agent, you are likely a good match. A cohesive partnership built on trust and understanding can lead to a more efficient and successful home-selling process.
Finding the Agent That's Right For You
By considering factors such as experience, specialties, marketing plans, responsiveness, services, and compatibility, homeowners can decide on the right real estate agent for their needs. Selecting an agent who aligns with your goals and preferences can significantly impact the selling process and ultimately lead to a successful transaction. It's important to take the time to find the right agent who will help you achieve your home-selling goals.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2024-03-04T07:44:59-07:002024-03-04T10:59:15-07:00Justin Havretag:calgary.com,2012-09-20:22166Selling Too Soon: How Long Should You Live in a House Before Selling?<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/how-long-to-keep-before-selling.jpg" alt="How Long Should You Wait to Sell Your Home to Avoid Losing Money?" width="475" />Misunderstandings can complicate major real estate decisions, steering people away from what's best for their finances. The beliefs about how long you need to own a home before selling might not always be accurate. Knowing the common myths about selling property is vital for making choices that lead to good results. So, how long should you stay in a home before setting out on the <a href="https://www.calgary.com/blog/step-by-step-guide-to-selling/">home-selling process</a>? Understanding the facts can help you get the most out of your sale and reduce risks in the changing real estate market.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />Reasons for Selling a House After Buying
Many homeowners dream about their "forever home," but the truth is <a target="_blank" href="https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-do-canadian-home-owners-really-move-every-seven-years/">most people move several times in their lives</a>. And sometimes, it's just not feasible to spend as many years as you expect in one home. Unexpected circumstances, such as job relocations, financial hardships, or family changes, can prompt homeowners to sell their house shortly after purchasing it.
When faced with a sudden job opportunity in a different city or province, individuals may find themselves needing to sell their homes quickly to accommodate the relocation. Financial difficulties, like unexpected medical expenses or job loss, can also force homeowners to sell sooner than planned to alleviate financial strains. Additionally, changes in family dynamics, such as divorce, marriage, or welcoming a new family member, may necessitate selling a house to better suit the new circumstances. These unforeseen events can significantly impact homeowners' decisions to sell their property shortly after buying, so it's important to understand beforehand how they might affect you.
How Soon Can You Sell a House After Buying? The 5-Year Rule
Homeowners looking to make a strategic decision about selling their house shortly after purchase often consider the "5-year rule" as a guideline for maximizing financial returns. The 5-year rule suggests staying in a home for at least five years to recoup initial costs and maximize profit. However, the length of time required will vary for each homeowner. You'll need to evaluate your own cash flow to estimate how long it will take to recover closing costs, agent fees, and mortgage interest.
Selling before you have the chance to recoup your expenses may lead to financial losses due to high transaction costs and minimal equity accumulation. Waiting to sell for at least five years helps avoid losses and maximize potential property value growth. Residing in a property for a longer duration allows for equity building, stability, and financial benefits upon selling.
Working with a real estate agent and carefully evaluating all costs and potential gains are key to making informed decisions about selling a house.
Factors to Consider Before Selling
Before deciding to sell a house, it is crucial to assess various financial factors, such as:
Whether your mortgage has <a href="https://www.calgary.com/blog/selling-home-with-mortgage/" title="Selling a Home With a Mortgage">early payoff penalties</a>
Current and expected market conditions
How much equity you have in your home
Capital gains tax implications
<a href="https://www.calgary.com/blog/home-closing-costs/">Closing costs</a>, real estate agent commissions, moving expenses, and other <a href="https://www.calgary.com/blog/how-much-will-you-have-to-pay-to-sell-your-home/">costs for selling a home</a> and buying a new one
While it's generally not advisable to try to "time the market," especially if you're moving within the same area—if you <a href="https://www.calgary.com/blog/what-to-expect-when-selling-a-home-in-a-buyers-market/">sell your home in a buyer's market</a>, you probably won't also have to face <a href="https://www.calgary.com/blog/how-to-buy-a-home-in-a-competitive-market/">buying in a competitive market</a>—consulting with a real estate agent to get hard data for current real estate market trends can help you understand whether it's a good time to sell.
Assessing the amount of equity you have in your home is vital to your financial review. This is the difference between what your home is worth and what you owe on your mortgage. More equity means more profit from the sale, which can be put towards your next home or other financial goals. Equity is the main reason it's advisable to wait several years before selling your home.
Capital gains tax is another key consideration if you're expecting profit from your sale. In Canada, 50% of your home sale profit will be added to your income for the year and taxed accordingly. Most home sellers can circumvent this by applying for a principal residence exemption—but if you're selling within 12 months of buying, the exemption may not apply. Luckily, tax law makes <a target="_blank" href="https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-12700-capital-gains/principal-residence-other-real-estate/sale-your-principal-residence.html">many exceptions to the 12-month requirement</a> in response to various life circumstances.
If you're relying on profits from your home sale to buy a new home, be sure to factor in home selling expenses. Closing costs and real estate agent commissions are significant expenses that can reduce your profit from the sale. Closing costs can include fees related to the mortgage, title, and settlement services, typically ranging from 2% to 5% of the sale price. Real estate agent commissions usually range from 4% to 7% of the sale price, split between buyer and seller agents. Moving expenses can also add up, especially if moving a long distance.
Finally, if you're planning to buy a new home after selling, consider the costs associated with buying, such as down payment, closing costs for the new mortgage, and any immediate repairs or renovations the new home may need. Balancing the costs of selling your current home with the costs of buying a new one can be complex, and it may influence your decision on <a href="https://www.calgary.com/blog/how-to-really-know-when-to-sell-your-home/">when to sell</a>.
By carefully evaluating all these factors, you can make a more informed decision about selling your home. It's not just about the current market conditions but also how the sale fits into your financial situation and goals.
Potential Losses for Selling a Home Soon After Purchase
Selling a home shortly after purchase can result in potential financial losses due to high transaction costs and missed opportunities for equity growth and property appreciation. Homeowners need to be aware of the following:
High transaction costs such as agent fees, closing costs, and repairs can eat into the potential profit.
Selling too soon after purchase may prevent the homeowner from building equity and benefiting from property appreciation.
Minimal profit or even a loss can occur if the property value has not significantly increased since purchase.
Consider the break-even point and potential financial implications carefully before deciding to sell soon after purchasing a home.
So, How Long Do You Need to Keep Your Home?
Determining the right time to sell a property involves carefully considering various factors such as market conditions, expenses, and potential profits. While experts recommend staying in a home for at least five years to maximize returns, unforeseen circumstances or opportunities may prompt an early sale. Collaborating with a real estate agent and conducting a thorough analysis can help individuals make informed decisions and navigate the complexities of selling a property effectively.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2024-02-29T13:18:13-07:002024-02-29T13:44:00-07:00Justin Havretag:calgary.com,2012-09-20:22081Selling a House With a Mortgage: Know the Potential Benefits & Drawbacks<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/selling-home-with-mortgage.jpg" alt="Selling a Home With An Existing Mortgage" width="475" />Many homeowners find themselves looking to sell their homes while still having an outstanding mortgage balance. But what happens when you sell a house with a mortgage? The decision to sell a house with an existing mortgage can raise various questions and considerations that require careful evaluation. From potential financial implications to navigating the process smoothly, there are crucial aspects to weigh before going through the <a href="https://www.calgary.com/blog/step-by-step-guide-to-selling/">home selling process</a>. The complexities of selling a home with a mortgage can often surprise sellers, prompting them to seek clarity and guidance on the best way forward.
For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.<br /><br />Can You Sell Your House With a Mortgage?
Similar to how <a href="https://www.calgary.com/blog/selling-a-house-with-a-lien/">homes can be sold with other liens</a>, homeowners with an existing mortgage can sell their homes. When selling a home with a mortgage, the outstanding balance on the mortgage will need to be paid off from the proceeds of the sale. The remaining amount belongs to the homeowner.
Otherwise, the home-selling process is much like it is when you've fully paid off your mortgage. Overall, selling with a mortgage is feasible with proper planning and communication with all parties involved.
Mortgage Prepayment Penalties
Homeowners need to communicate with their mortgage lender when planning to sell their homes. They should inquire about the exact amount due on the mortgage and any prepayment penalties that may apply. Some mortgages have clauses that impose penalties for early payment, so understanding these terms is crucial.
Selling a property with an open mortgage allows for flexibility without incurring penalties for early mortgage agreement termination. Meanwhile, for closed mortgages, penalties apply if the property is sold before the mortgage term concludes, including prepayment penalties that can be substantial. For sellers looking to avoid these penalties, there might be options depending on their lender, such as <a target="_blank" href="https://www.nerdwallet.com/ca/mortgages/porting-a-mortgage-explained">porting their mortgage</a> to their new property.
Apart from prepayment penalties, selling a home with a mortgage may also incur fees that add to the overall cost like:
Administrative fees
Appraisal fees
Reinvestment fees
Mortgage discharge fee
Should You Sell a House Early?
Some homeowners may wonder if selling their home early is a wise decision. The benefits of selling early could include avoiding potential financial pitfalls or seizing new opportunities. However, there are also drawbacks to consider, such as potential financial losses or the inconvenience of moving sooner than planned.
Benefits
Homeowners may find that securing a lower interest rate on a new mortgage could lead to significant long-term savings. By obtaining a lower rate when buying a new home and maintaining your original payment amounts, you might pay off the mortgage ahead of schedule.
Plus, selling your home even when it still has an outstanding mortgage could allow you to take advantage of favourable market conditions, maximizing your home's value and providing more financial flexibility for future endeavours.
Drawbacks
Current economic conditions might hinder a seller's ability to qualify for a new mortgage, potentially steering them towards renting instead of buying again. It also might be a <a href="https://www.calgary.com/blog/how-to-buy-a-home-in-a-competitive-market/">competitive market</a> where it's difficult to find a property at all. Consulting a mortgage advisor to help navigate these calculations could be beneficial in making an informed decision.
Additionally, breaking a mortgage early can result in high fees and prepayment penalties, potentially costing you more in the long run. Despite making larger payments and saving on interest with a new mortgage, these penalties may not be offset.
Steps to Selling a Home With a Mortgage
Individuals should look into potential mortgage penalties when selling a house with a mortgage. It's crucial to calculate the net proceeds of the sale after considering the remaining loan balance, costs, and fees. Once the financial aspects are clear, it's important to pay off any outstanding loans and associated costs to complete the sale successfully.
Obtain Payout Statement
To initiate the process of selling a home while still having a mortgage, first contact the mortgage lender for a payout statement. This statement will provide details about the outstanding loan balance, applicable fees, and accruing interest until the statement's expiration date. It is crucial to note the expiration date of the statement, as obtaining a new one will be necessary if it lapses.
Look Into Mortgage Penalties
To understand the potential penalties for early mortgage payoff, it is advisable to contact your lender for specific details. If you sell your home before the mortgage term ends, a penalty fee for early contract termination will apply. The fee amount varies depending on the type of mortgage. Options such as porting your current mortgage to a new property or having the buyer take over the existing mortgage can be explored.
Calculate Net Proceeds
Sellers must carefully calculate their net proceeds from the home sale by determining the equity in their property. To do this effectively, they should determine the total amount still owed on the property, including mortgage and home equity lines of credit. The home equity is the difference between the current market value of your home and the remaining mortgage balance. Be mindful of additional <a href="https://www.calgary.com/blog/how-much-will-you-have-to-pay-to-sell-your-home/">expenses associated with selling</a>, like lawyer fees and real estate agent commissions, as they will impact the final profit from the sale.
Pay Loans and Costs
When selling before your mortgage is paid off, the first step is to allocate the sale proceeds towards paying off your remaining mortgage, including associated fees and penalties. After paying off the mortgage, any remaining funds should be used to clear additional debts or liens tied to the property, such as home equity loans or second mortgages. Ensuring that all financial obligations related to the property are fully addressed is crucial.
Finally, sellers should be prepared to cover all expenses associated with finalizing the sale, which often includes real estate agent commissions. By prioritizing these payments, sellers can successfully navigate the process of selling a home with a mortgage.
Ready to Sell Your Home With an Existing Mortgage?
Overall, selling a home with a mortgage is possible, but it comes with certain considerations and steps that need to be taken. It is important to weigh the pros and cons of selling early and understand the process involved in selling with a mortgage. By following the necessary steps and consulting with professionals, homeowners can successfully navigate the selling process and move forward with their financial goals.
Frequently Asked Questions
Can I Use the Sale of My Home to Pay Off My Mortgage Early?
Paying off a mortgage through the sale of a home is a common practice. It allows homeowners to reduce debt and potentially save on interest costs. Ensure to check for prepayment penalties or clauses.
What Happens if I Sell My Home for Less Than What I Owe on the Mortgage?
If someone sells their home for less than what they owe on the mortgage, they may have to come up with the difference to pay off the loan in full. This situation is known as a short sale.
For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.2024-02-27T13:38:30-07:002024-02-27T13:59:29-07:00Justin Havretag:calgary.com,2012-09-20:22039How Do Reverse Mortgages Work in Canada? Selling a Home With a Reverse Mortgage<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/reverse-mortgage.jpg" alt="Should You Get a Reverse Mortgage?" width="475" />Reverse mortgages are a unique financial instrument that allows homeowners to cash in on their home equity without moving. However, as with any financial decision, there are crucial factors to consider before applying for this type of loan. For all the advantages of reverse mortgages, they can cause complications when <a href="https://www.calgary.com/blog/step-by-step-guide-to-selling/">selling your house</a>. Understanding the intricacies of this option, particularly concerning future property sales and associated costs, is paramount for homeowners looking to make informed decisions about their financial future.
For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.
What Is a Reverse Mortgage in Canada?
A reverse mortgage in Canada is a financial option available to homeowners, typically individuals aged 55 and above, that enables them to access up to 55% of their home's current value without selling their property. This type of loan allows homeowners to convert a portion of their home equity into tax-free income, providing them with financial flexibility during retirement or other life events.
To qualify for a <a href="https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reverse-mortgages.html" target="_blank">reverse mortgage in Canada</a>, the property in question must serve as the applicant's primary residence. Homeowners can receive the borrowed funds in a lump sum, which would accrue interest on the total amount. Alternatively, they can opt for partial withdrawals with adjusted interest rates and additional fees.
It is important to note that reverse mortgage repayment is only required when the borrower sells the home, permanently moves out, or passes away.
Selling a Home With a Reverse Mortgage
Selling a property with a reverse mortgage necessitates the full repayment of the loan balance from the proceeds of the sale. The funds from selling the home are first used to settle the outstanding reverse mortgage balance. Any remaining amount after repayment belongs to the homeowner or their estate.
However, in cases where the sale does not cover the full loan balance, resulting in negative equity, some lenders may seek full recuperation from the homeowner or their heirs. In contrast, others will only pursue the home's property value.
One advantage of reverse mortgages is that homeowners can sell their property anytime without penalties. This flexibility allows homeowners to adapt to changing circumstances or make decisions based on their financial needs. Understanding the implications of selling a home with a reverse mortgage is crucial to making informed choices and avoiding unexpected financial obligations.
Advantages of Reverse Mortgages
Retirees seeking to enhance their financial stability and maintain ownership of their homes can benefit significantly from the advantages of reverse mortgages in Canada. One key advantage is the ability to stay in their home without the need to move or sell, providing a sense of comfort and familiarity during retirement. Additionally, a reverse mortgage can be more cost-efficient than making expensive upgrades or <a href="https://www.calgary.com/blog/how-to-sell-a-house-as-is/">selling a home as-is</a>.
Additionally, the funds obtained from a reverse mortgage can be utilized for various purposes such as home renovations, debt consolidation, travel, or covering medical expenses, offering financial flexibility and security.
Another advantage is that with a reverse mortgage, homeowners are relieved from the burden of making monthly mortgage payments, allowing them to enjoy their retirement years without financial stress. The CHIP Reverse Mortgage, for instance, enables homeowners to access a portion of their home equity while retaining ownership, providing an opportunity to supplement their income and improve their quality of life.
Disadvantages of Reverse Mortgages
One significant disadvantage is the higher interest rates that come with reverse mortgages compared to traditional mortgages or <a href="https://www.calgary.com/blog/lets-discuss-home-equity-loans/">Home Equity Lines of Credit (HELOCs)</a>. As interest charges accumulate over time, there is a reduction in home equity, impacting the overall value of the property.
Additionally, initial costs are involved in setting up a reverse mortgage, including appraisal, legal, and administrative fees, which can add to the overall expenses. Prepayment penalties may apply if the home is sold before the end of the mortgage term, further complicating the financial implications.
Moreover, the potential impact of inheriting a home is a crucial consideration, as the reduced home equity due to borrowing and interest charges can significantly affect the amount that beneficiaries receive. Prospective users should carefully weigh these disadvantages against the benefits before opting for a reverse mortgage in Canada.
Alternatives to Reverse Mortgages
Considering various financial options available to homeowners, alternatives to reverse mortgages allow individuals to access cash flow without opting for this specific type of loan. Downsizing to a smaller home is one option, enabling homeowners to access equity without taking out a reverse mortgage. Selling investments or assets can also generate cash flow without a reverse mortgage. Additionally, taking on a tenant in the property can provide rental income as an alternative to this <a href="https://www.calgary.com/blog/mortgage-types/">type of mortgage</a>.
Another viable option is applying for a Home Equity Line of Credit (HELOC), which allows access to funds based on home equity without the obligations of a reverse mortgage. Moreover, a home equity loan is a lump sum based on the property's equity, providing another avenue for accessing cash without resorting to a reverse mortgage.
Is Selling a Home With a Reverse Mortgage Right For You?
Reverse mortgages in Canada offer homeowners a unique financial tool to access their property's equity without the need to sell or downsize. While there are advantages, such as tax-free cash and retained ownership rights, there are also considerations to be aware of, such as associated costs and implications when selling the property in the future. Understanding these factors can help people avoid <a href="https://www.calgary.com/blog/selling-your-calgary-house-avoid-these-costly-mistakes/">mistakes when selling homes</a> with reverse mortgages in Canada.
For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.2024-02-22T10:00:00-07:002024-02-22T11:14:58-07:00Justin Havretag:calgary.com,2012-09-20:22040Capital Gains on Inherited Property: What to Know When Selling an Inherited Home<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/selling-inherited-property.jpg" alt="How to Sell an Inherited Property" width="475" />Navigating the sale of an inherited home in Alberta is a multifaceted endeavour that demands careful attention to legal and financial intricacies. The process requires a nuanced approach, from deciphering tax implications to weighing the benefits of various exemptions. Executors and beneficiaries must grapple with decisions beyond mere property transactions, delving into estate planning and tax optimization. As complexities abound, understanding the nuances of selling an inherited home in Alberta is not just advisable but imperative for anyone who wants to avoid <a href="https://www.calgary.com/blog/selling-your-calgary-house-avoid-these-costly-mistakes/">home-selling mistakes</a>.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />What Is An Inherited Property?
An inherited property refers to real estate that heirs receive as part of an estate after the property owner's death. These properties can encompass a wide range of assets, including primary residences, vacation homes, rental properties, commercial buildings, or undeveloped land. The transfer of ownership of an inherited property typically occurs through a will, where the deceased individual outlines their wishes to distribute their assets.
When there is no will in place, intestacy laws govern how the property is passed down to eligible heirs. Inherited properties often hold emotional significance for beneficiaries, as they may have sentimental value attached to them, and financial considerations, as they can impact the overall estate and tax obligations. Understanding the legal and tax implications surrounding inherited properties is crucial for making informed decisions about their management and potential sale.
Taxes on The Sale of An Inherited Home
In Alberta, selling an inherited home may trigger capital gains tax on the profit made from the sale. Capital gains tax comes into play in almost every <a href="https://www.calgary.com/blog/step-by-step-guide-to-selling/">home-selling process</a> and is calculated by subtracting the property's adjusted cost base from the selling price. The adjusted cost base comprises the original purchase price, capital improvements, and selling expenses. It is advisable to consult with a tax professional to accurately determine the amount of capital gains tax owed on the sale.
While Canada does not have an inheritance tax, capital gains tax on inherited property is a crucial consideration. Awareness of these tax obligations is essential for proper financial planning and avoiding penalties or non-compliance issues. Therefore, seeking expert advice and understanding the tax nuances of selling an inherited home in Alberta is paramount for a smooth and legally sound transaction.
Things to Do Before Selling an Inherited Home
Selling an inherited home is similar to any other home sale. However, there are a few important differences. By addressing these key points, you can navigate the process more efficiently and maximize the value of the inherited home.
Continue Maintenance
To maintain the inherited home's value and appeal to potential buyers, it is crucial to continue regular maintenance and address any needed repairs or upgrades. Keeping the property clean, organized, and well-maintained makes a positive impression on buyers and increases the selling price. Consider professional cleaning services or staging to showcase the property's potential. Additionally, <a href="https://www.calgary.com/blog/the-basics-of-curb-appeal-for-home-sellers/">maintaining curb appeal before selling</a> can attract buyers and increase the property's overall value. Staying on top of maintenance tasks can enhance the property's marketability and potentially secure a better selling price. Regular upkeep demonstrates care and attention to detail, which can significantly influence buyers' perception of the inherited home.
Review Insurance Plan
Ensuring proper insurance coverage safeguards the property and heirs during the selling process and negotiable period. Heirs need to verify that the current policy extends protection throughout the selling process and consider updating the coverage to reflect the change in ownership. Even if the plan is to sell the home quickly, maintaining appropriate insurance during the interim period protects all parties up to the transfer of ownership. To avoid any gaps in coverage, contact the insurance provider promptly and make any necessary adjustments before proceeding with the sale of the inherited home.
Calculate the Split Between All Heirs
Homes that are left to more than one heir require careful calculations to ensure a fair and accurate distribution of the property's value. Begin by determining the number of heirs involved in the inheritance to establish how the property's worth will be divided. The next step is to calculate each heir's share by either dividing the property's value equally among them or according to instructions laid out in the will. Before finalizing the split, consider any outstanding debts or expenses related to the inherited home that may impact the distribution. Consulting with a legal professional can help guarantee a just and precise allocation among all heirs, which should be documented in writing to prevent potential disputes in the future.
Get a Fair Market Value Assessment
This <a href="https://www.calgary.com/blog/pre-listing-home-inspection/">pre-sale inspection</a> provides an objective basis for setting a price when selling the inherited property, considering location, condition, and comparable sales in the area. A fair market value assessment increases the likelihood of a successful and fair sale of the inherited home, benefiting sellers and buyers by facilitating informed decisions throughout the real estate transaction process. Ideally, the assessment will occur as soon as possible after inheriting the home to maximize value.
What Is the Principal Residence Exemption and Lifetime Capital Gains Exemption?
The Principal Residence Exemption (PRE) is a valuable tax provision in Canada that enables individuals to exclude capital gains tax upon the sale of their primary residence. To qualify for the PRE, the property must be designated as the principal residence for each year of ownership. This exemption can lead to significant tax savings for homeowners when selling their primary residence, allowing them to keep more of the proceeds from the sale.
Paying Off the Remaining Mortgage of an Inherited Home
Anyone who inherits a home with an outstanding mortgage balance must pay off the remaining sum. Executors are typically responsible for managing mortgage payments using other estate funds. If beneficiaries intend to retain the inherited property, they can pay off the mortgage in regular installments, as with any other home. When the inherited home carries a reverse mortgage, the seller must also cover that amount with interest rates.
Sometimes, selling the inherited home may be necessary to clear the mortgage debt. By selling the property, beneficiaries can settle the outstanding mortgage balance and distribute any remaining proceeds as outlined in the estate. This approach resolves the financial obligations associated with the inherited home and allows for a more efficient distribution of assets. Whether deciding to keep or sell the property, addressing the remaining mortgage is key to effectively managing the inherited real estate.
Sell Your Inherited Home With Ease
In conclusion, navigating the process of selling an inherited home in Alberta involves understanding tax implications, legal obligations, and strategic considerations. Seeking guidance from professionals such as real estate agents, lawyers, and tax advisors can help individuals make informed decisions to optimize financial outcomes and ensure compliance with regulations. By proactively addressing these considerations, even <a href="https://www.calgary.com/blog/tips-for-first-time-home-sellers-to-sell-their-first-home/">first-time home sellers</a> can effectively manage the sale of inherited homes in Alberta.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2024-02-20T11:07:00-07:002024-02-22T11:17:07-07:00Justin Havretag:calgary.com,2012-09-20:189009 Mistakes When Selling Your Home: Common Home Selling Mistakes to Avoid<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/selling-mistakes.jpg" alt="Avoid These Common Home Selling Mistakes" width="475" />When it comes to selling a house, there are countless decisions and considerations to be made. From pricing to presentation, each step plays a crucial role in the sale's success. However, many sellers make mistakes that can hinder their chances of a smooth and profitable transaction. Whether it's neglecting to <a href="https://www.calgary.com/blog/using-a-real-estate-agent/">work with a real estate agent</a> or failing to provide high-quality photos, these missteps can have a significant impact on the outcome. Keep reading to learn about these common mistakes and how they can be avoided.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />Improper Listing Price
If you have a nice home, condo or townhouse, it's easy to think your home is the best in the area and deserves a higher listing price. Unfortunately, potential buyers may not have the same viewpoint and will often only see it as an overpriced home.
There used to be a time when you could price your home high to see what would happen. If buyers didn't flock to the home, you could then lower the price. If Aunt Lucy is telling you that she sold her house this way 30 years ago and ended up making extra money on it, this doesn't mean that it's the right thing for you to do now.
The real estate game has changed over the years, and you can't afford to list your house too high since it may end up sitting on the market too long. This makes buyers wonder what may be wrong with the house and avoid looking at it altogether.
To avoid improper pricing, sellers should thoroughly research the local real estate market. They should analyze recent sales data of similar listings in the area, considering factors such as location, size, and condition. Your real estate agent will give you a realistic sale price for your home, and you shouldn't go much above this suggestion.
Unwise Home Updates
When selling a home, making unwise updates can be a costly mistake. Some homeowners may be tempted to invest in unnecessary renovations, thinking it will increase the home value. However, this can lead to overspending and not getting a return on their investment. On the other hand, neglecting needed repairs can also deter potential buyers and lower the home's overall appeal.
Making Unnecessary Renovations
Many homeowners make the mistake of unnecessarily renovating their homes, wasting time and money. If you upgrade your kitchen for $25,000, that doesn't mean you will get this money back when you list your home for sale. When selling a house, it is essential to focus on <a href="https://www.calgary.com/blog/best-home-renovations-before-selling/">renovations with a high ROI</a> that will have a significant impact on buyers.
Many people may tell you that you need to make costly renovations to your home to sell it. In most cases, this simply isn't true. Usually, an old-fashioned coat of paint is all that's needed to freshen up a dull kitchen to make it look shiny again. By avoiding unnecessary renovations, homeowners can save time and money while still making their homes more appealing to potential buyers.
Not Doing Needed Repairs
Some people may tell you that you don't need to worry about making minor repairs in your home since the new owners can take care of it. Some repairs may need to be done, however, in order to see a faster sale. Potential buyers are looking for a property that is in good condition and ready for immediate occupancy. By not addressing needed repairs, homeowners risk turning off buyers and decreasing the value of their homes.
Small issues such as leaky faucets, cracked tiles, or faulty electrical outlets may seem insignificant, but they can create a negative impression and raise concerns about the overall maintenance of the property. Additionally, neglecting significant repairs like a damaged roof or a faulty HVAC system can be even more detrimental. Buyers may ask for significant price reductions, other <a target="_blank" href="https://www.rocketmortgage.com/learn/seller-concessions">seller concessions</a>, or simply walk away from a home that requires extensive repairs.
Selling Without a Real Estate Agent
Many homeowners make the mistake of doing a <a href="https://www.calgary.com/blog/the-pitfalls-of-fsbo/">for sale by owner (FSBO)</a> rather than working with an agent, which can lead to several pitfalls. One common issue is not understanding the intricacies of the selling process, such as pricing the home correctly or marketing it effectively. Additionally, by not following the advice of a real estate agent, sellers may miss out on valuable insights and strategies that could ultimately help them sell their home faster and for a higher price.
Not Understanding the Process
Not working with a real estate agent can lead to a lack of understanding of the home-selling process. Selling a home can be a complex and overwhelming task, especially for those who are not familiar with the intricacies of the real estate market.
This is a process, and even with an agent, you'll need to stay in tight communication during it. If you have any questions, don't be afraid to ask them. These unanswered questions can act as a stop in the process, whether you realize it or not.
Not Using Their Advice
Working without the guidance of a real estate agent can lead to homeowners missing out on valuable advice and expertise, potentially causing costly mistakes in the home-selling process. Real estate agents have extensive knowledge and experience in the industry, allowing them to provide valuable insights and guidance throughout the selling process.
If you are working with a real estate agent, you must trust them wholly to make the best decisions. You have hired this agent to work on your behalf because of their experience and level of expertise. There are reasons behind all of his marketing choices for selling your property, and you should be following them explicitly.
Wanting Notice Before Showings to Buyers
If you've been told to ask for notice before accepting <a href="https://www.calgary.com/blog/showing-tips-for-your-next-open-house/">home showings</a>, ignore the advice. You should have your home ready to sell at a moment's notice. If a couple is driving around with a real estate agent and asks to see your home, you should be ready to show it. If not, they will go on to look at other homes, and you may end up losing a sale.
Here are a few reasons why asking for notice can be a problem:
Inconvenience for potential buyers: Requiring notice may discourage some buyers from viewing the property. They might see it as an extra hassle or not have the flexibility to plan ahead.
Missed opportunities: Many buyers have tight schedules and limited time to view properties. If sellers insist on notice, they may miss out on impromptu showings that could lead to a sale.
Lack of urgency: By demanding notice, sellers may inadvertently signal that they are not motivated to sell quickly. This lack of urgency can give buyers the impression that there is room for negotiation or that something might be wrong with the property.
While sellers understandably want their homes to be staged in the best possible way, requiring advance notice before showings, like with an open house, can sometimes do more harm than good. It is essential to strike a balance between buyer and seller needs.
Not Being Honest, Especially If Selling As-Is
When selling a home, it is crucial to be honest about any issues or defects. Not doing so can lead to legal consequences and damage your reputation as a seller. Misrepresenting your home can also lead to disappointed buyers and a longer selling process.
Failing to go through with <a href="https://www.calgary.com/blog/home-sellers-disclosures/">seller's disclosures</a> can have detrimental consequences when selling a home. Not being honest about the property's condition or any issues it may have can lead to legal troubles and financial loss for both the seller and the buyer. Being transparent and forthcoming about known issues is essential for a successful home sale and maintaining a good reputation.
Plus, if you have a personal or financial situation that you feel your real estate agent should know about, it's important to tell them about it. You may be working on different wavelengths, which is never a positive thing when trying to sell such a high-ticket item. If there have been problems in your home, you must inform your agent about them upfront. In most cases, they will be discovered later, and then, they are much harder to deal with.
Getting Too Emotional When Selling Your House
Sellers often make the mistake of allowing their emotions to cloud their judgment when it comes to selling their homes. Understandably, selling a home can be emotional, as it often represents a significant life transition. However, getting too emotional can lead to poor decision-making and ultimately hinder the sale of the property.
Sellers who are too emotionally invested in their home may reject perfectly reasonable offers simply because they don't meet their ideal expectations. This can result in missed opportunities and a longer time on the market, especially if they're overestimating how much the home is worth.
To overcome these emotional biases, home sellers should seek advice from real estate professionals who can provide an objective perspective. By relying on their expertise and market knowledge, sellers can make more rational decisions and increase their chances of a successful sale.
Not Using High-Quality Photos
Using low-quality photos can significantly impact the success of a home sale. In today's digital age, potential buyers rely heavily on online listings to decide which homes to visit in person. When sellers fail to use high-quality photos, they risk losing the attention and interest of buyers.
<a href="https://www.calgary.com/blog/professional-real-estate-photography/">Professional photos</a> are essential because they allow buyers to get a clear and accurate representation of the property. They showcase the home's best features, such as spacious rooms, modern finishes, or beautiful outdoor spaces. Furthermore, these photos help to create a positive first impression. When buyers scroll through numerous listings, eye-catching photos can make a property stand out from the crowd.
Follow Professional Advice When Selling Your Home
When you're selling your home, you may hear a lot of different advice. Friends and neighbours will tell you all about their real estate escapades and give you some "helpful" advice. But these might lead you down the wrong path—avoiding common home selling mistakes is crucial for a successful sale. Sellers can increase their chances of a smooth transaction by setting a proper sale price, making wise updates, and working with a real estate agent. By avoiding these mistakes when they put their home on the market, sellers can maximize their chances of a successful home sale.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2024-02-14T09:00:00-07:002024-02-14T10:55:29-07:00Justin Havretag:calgary.com,2012-09-20:21962What Are Carrying Costs? 6 Types of Carrying Costs in Real Estate<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/carrying-cost-real-estate.jpg" alt="What Are Carrying Costs in Real Estate?" width="475" />Carrying costs in real estate play a crucial in maintaining the delicate equilibrium of property ownership. But what exactly are these costs, and why should they matter to anyone considering investing in real estate? From mortgage payments to property taxes and <a href="https://www.calgary.com/blog/homeowners-insurance/">home insurance</a> to maintenance, various expenses can silently erode a property owner's financial stability. Discover the true extent of these costs and their impact on your investment journey.
For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.
Key Points
Carrying costs in real estate refers to the range of expenses that investors are responsible for during the period of owning an investment property.
These expenses include utilities, debt payments, taxes, insurance, and other related costs.
Failing to account for carrying costs can significantly reduce profits and affect the profitability of a property investment.
Home insurance, utilities, mortgage payments, property taxes, and regular maintenance are essential components of carrying costs that should be carefully considered.
What Is a Carrying Cost?
Carrying costs, also known as holding costs, refer to the range of expenses an investor is responsible for when they own a property. These costs include the financial burdens necessary to upkeep a home, which are in addition to any monthly mortgage payments. These expenses typically encompass utilities, debt payments, taxes, insurance, and other related costs.
Why Do Carrying Costs Matter?
Carrying costs significantly impact the budget, cash flow, and return on investment of a property. Understanding these costs is crucial for quantifying their impact on a property's financials. They can affect the profitability of a property investment, regardless of the investor's strategy.
For those looking to flip a property for a quick profit, minimizing the duration of ownership is key to maximizing returns, as ongoing costs can diminish profitability over time. On the other hand, carrying costs are considered part of the operating expenses for income-generating properties.
Failing to account for these costs can significantly reduce profits, often regardless of the <a href="https://www.calgary.com/blog/common-real-estate-types/">type of real estate</a>. Investors should carefully estimate and incorporate all potential costs into their financial planning.
Types of Real Estate Carrying Costs
When it comes to real estate carrying costs, there are several types that homeowners should be aware of. These include home insurance, utilities, mortgage payments, property taxes, and maintenance expenses. These costs can add up and significantly impact the overall expenses of owning a property.
Home Insurance
Home insurance provides financial protection in case of damage to the property or its contents due to unforeseen events such as fire, theft, or natural disasters. It also covers liability if someone is injured on the property. The cost of home insurance can vary depending on factors like the location of the property, its value, and the type of coverage chosen.
Homeowners typically pay insurance premiums on a monthly or annual basis. It is vital for property owners to carefully consider their insurance needs and shop around for the best coverage and rates to ensure they are adequately protected without overspending on premiums.
Utilities
Another significant aspect of holding costs in real estate is utilities. These are the essential services needed to maintain a comfortable living environment. From gas, water, and electricity to phone and internet, there are plenty of expenses to keep track of. Considering these utilities is essential for homeowners to accurately calculate their carrying costs and budget accordingly.
Mortgage Payments
When purchasing a property, most people require a mortgage to finance the purchase. This means that they borrow money from a lender, such as a bank, and agree to make regular payments over a specified period, usually 15 or 30 years, until the loan is fully repaid. Homeowners must budget for their mortgage payments as a crucial part of their overall carrying costs. It is important to factor in these expenses when determining the affordability of a property and planning for long-term financial stability.
Property Taxes
<a target="_blank" href="https://www.forbes.com/advisor/ca/mortgages/property-taxes-in-canada/">Property taxes</a> are fees imposed by local governments on property owners based on the assessed value of their properties. Property taxes are an ongoing expense that homeowners must budget for, and understanding them includes knowing the:
Assessment: Local governments assess the value of properties periodically to determine the amount of property tax owed. The assessed value may not always align with the property's market value.
Rates: Property tax rates vary depending on the location and the local government's budget needs. Higher tax rates can significantly impact a homeowner's carrying costs.
Deductions and Exemptions: Homeowners may be eligible for deductions or exemptions that can lower their property tax burden. These can include homestead exemptions, senior citizen exemptions, or energy-efficient property deductions.
Understanding property taxes is crucial for homeowners as they impact the overall cost of owning a property.
Maintenance
Regular <a href="https://www.calgary.com/blog/calgary-home-maintenance/">home maintenance</a> is essential to owning real estate, as it helps ensure the property remains in good condition. Maintenance costs can vary depending on the type of property and its age. Some common maintenance tasks include routine cleaning, painting, landscaping, and repairs. These tasks are necessary to keep the property functioning properly and aesthetically pleasing.
Property owners need to budget for maintenance expenses and allocate funds accordingly. By staying on top of maintenance, property owners can protect their investment and potentially increase its value over time.
Other Fees
Other fees, such as community dues if they exist, contribute to the overall carrying costs. These additional fees can significantly impact the total cost of owning a property. Community association fees are paid by homeowners to cover the cost of maintaining common areas and amenities in a community. They can vary depending on the location and the services provided.
Have You Accounted For Carrying Costs?
Understanding and calculating carrying costs is crucial for real estate investors. These costs, which include mortgage payments, property taxes, insurance, and maintenance expenses, can significantly impact the profitability of an investment property. By carefully considering and managing these expenses, investors can make informed decisions and increase their chances of long-term success in the real estate market.
For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.2024-02-12T08:35:00-07:002024-02-13T08:52:47-07:00Justin Havretag:calgary.com,2012-09-20:21853Calgary AB vs. Vancouver BC: 10 Things to Know BEFORE Moving<img src="https://assets.site-static.com/userfiles/4845/image/calgary-vs-vancouver-header.jpg" style="display: block; margin: 20px auto;" alt="Vancouver vs. Calgary" />
Choosing between Calgary and Vancouver for your home is a big decision. The city of Calgary, known for its vibrant energy sector and cowboy culture, offers a unique lifestyle. On the other hand, Vancouver, with its stunning oceanfront and mountain views, presents a different appeal. Both cities boast diverse attractions and a range of amenities, but each has its distinct advantages. This comparison will guide you through the key aspects of living in Calgary and Vancouver, helping you decide which city aligns best with your preferences. Explore the distinctive features of Calgary vs. Vancouver to make an informed choice for your new home.
Is it Cheaper to Live in Calgary or Vancouver?
The cost of living in Calgary is generally lower than in Vancouver. A 2023 survey found that Vancouver was the second-most expensive place to live in Canada behind Toronto. <a target="_blank" href="https://www.mercer.com/en-ca/about/newsroom/cost-of-living-in-canada-2023/">Calgary was the least expensive</a> of the five major Canadian cities. One of the primary reasons for this is the higher cost of housing in Vancouver. It's worth noting, however, that the cost of living in either city can vary significantly depending on individual circumstances and lifestyle choices.
Cost of Living
<a href="https://www.calgary.com/blog/calgary-cost-of-living/">Calgary's cost of living</a> is 16% above the national average, while Vancouver's is roughly 40% higher. Housing is a significant factor in Vancouver's higher cost of living due to limited space and high demand.
According to WOWA, Vancouver's median sale price across all property types is around $1.2 million, compared to <a href="https://www.calgary.com/real-estate/">homes for sale in Calgary</a> with a median price of $540,000. Apartment-style <a href="https://www.calgary.com/calgary-condos-lofts/" title="Calgary Condos & Lofts For Sale">condos</a> are the most affordable property type, averaging around $800,000 in Vancouver and $315,000 in Calgary. <a href="https://www.calgary.com/townhouses/" title="Calgary Townhomes For Sale">Townhomes</a> are a bit pricier, with an average cost of $1.2 million in Vancouver and $418,000 in Calgary. Single-family homes see the biggest price difference, with an average cost of $2.1 million in Vancouver, which is roughly three times the average cost of $730,000 for homes for sale in Calgary.
Rental prices in Vancouver are also higher than in Calgary, with a one-bedroom apartment averaging around $2,800 compared to $1,800 in Calgary.
Calgary’s relative affordability is one of the biggest reasons that homebuyers choose to <a href="https://www.calgary.com/blog/calgary-vs-toronto/">move to Calgary vs. Toronto</a>, and Vancouver is in a similar boat.
Typical Salaries & Income
Calgary's average salary is around $69,000 annually or $33 per hour. Vancouver has a similar average salary of around $73,000 per year or $35 per hour. There are, however, differences in the <a target="_blank" href="https://biv.com/article/2022/07/census-data-income-levels-paints-troubling-picture-vancouver-analyst">median household income for each city</a>. In Calgary, that figure is approximately $98,000, while in Vancouver, it's around $82,000.
When it comes to the minimum wage, both cities have similar rates. As of 2023, Vancouver's minimum wage is $16.75 per hour, and Calgary's is $15 per hour. Unemployment rates are the same, with both cities reporting a 5.9% unemployment rate.
As for income taxes, it may be more beneficial to live in Alberta depending on your income stream, as the province has a flat tax rate of 10% for taxable income up to $142,292. In comparison, British Columbia's income tax brackets range from 5.06% to 20.5% for taxable income over $240,716.
How's the Weather in Calgary vs. Vancouver?
<img src="https://assets.site-static.com/userfiles/4845/image/calgary-vs-vancouver-weather.jpg" style="display: block; margin: 20px auto;" alt="How Bad are Calgary Winters vs. Vancouver Winters?" />
Vancouver has a mild and rainy climate, while Calgary experiences cooler and drier weather with more distinct seasons. These climate differences can significantly impact the activities and lifestyles of residents in each city.
For those who don't mind low temperatures in the winter, Calgary can be a great place to live. With more snowfall and sunshine hours than other major Canadian cities, it offers plenty of opportunities for outdoor winter sports such as skiing, snowboarding, and skating. However, it's worth noting that Calgary's weather can change from one extreme to the other on the same day, with temperatures dropping to -20 degrees Celsius in the morning and rising to 20 degrees Celsius if a Chinook (warm winds from the west) sweeps in.
Vancouver's milder winters and warm summers, on the other hand, make it an excellent place for year-round outdoor activities such as hiking, cycling, and exploring its beautiful parks and beaches. Although the weather has fewer extremes than in Calgary, it experiences significant rain showers and foggy days, particularly in the winter.
Which is Bigger, Calgary or Vancouver?
Population size impacts various aspects of living, such as traffic, job opportunities, and access to services and amenities. Vancouver has a larger metropolitan population of 2.6 million residents compared to Calgary's 1.4 million residents. However, both Calgary and Vancouver are major cities in Canada, offering world-class facilities and distinct cultural experiences. If you’re simply looking for the presence of big-city amenities like a thriving nightlife, you’ll be pleased by either city.
Finding a Job in Calgary vs. Vancouver
Looking for a job in Vancouver or Calgary can be a unique experience depending on the worker's industry. Both cities have thriving economies, and job-seekers usually don't have much trouble finding employment opportunities in either one.
That said, each city's job market and opportunities are quite different for skilled and entry-level workers. For instance, Calgary is well-known for its energy and oil sector, making it a more attractive location for job seekers looking for work in that industry. Other popular industries in Calgary include pharmaceuticals, aerospace and logistics, financial services, agribusiness, and a growing technology sector.
On the other hand, Vancouver offers job opportunities in several industries, such as technology, film, and tourism. Education, finance, and a growing green economy also contribute to the diverse employment landscape in Vancouver.
Getting Around in Calgary vs. Vancouver
<img src="https://assets.site-static.com/userfiles/4845/image/calgary-vs-vancouver-transportation.jpg" style="display: block; margin: 20px auto;" alt="Traffic in Vancouver" />
Calgary and Vancouver boast thousands of kilometres of cycling paths, robust public transit options, and well-planned road infrastructure designed around their unique geographies. That's not to say pedestrians and commuters should expect the same level of bike friendliness, walkability, and traffic in each location. Here’s a detailed comparison of transportation options between Calgary and Vancouver.
Public Transportation
Public transportation is a popular and convenient option for commuters in both Calgary and Vancouver. Calgary has a comprehensive system known as Calgary Transit, which includes over 250 bus routes, the C-Train (light rail transit), and Access Calgary for riders with disabilities. Vancouver, on the other hand, has TransLink, a vast public transit network that operates buses, trains, and ferries and serves greater Vancouver.
The public transportation system in Vancouver is more established and integrated than Calgary's. As a result, commuters in Vancouver may find it easier to navigate through the city. Vancouver's annual ridership is significantly higher than Calgary's, taking into account the population size. Vancouver reported 194 million trips per year, while Calgary had 56.9 million. In addition, Vancouver's SkyTrain system has 79.6 kilometres of track and is fully automated, while Calgary's C-Train covers 60 kilometres. A three-zone monthly pass in Vancouver costs $189.45, while adults pay $115 for a monthly pass in Calgary.
Driving & Traffic
Compared to Vancouver, Calgary enjoys less traffic congestion and easier access to parking. The city's well-connected traffic infrastructure includes major roads like Deerfoot Trail, Macleod Trail, and Highway 1. Stoney Trail, also known as Ring Road, encircles the city, making it relatively easy to get around. On average, it takes about 13 minutes to travel a distance of 10 kilometres in Calgary, according to the TomTom Traffic Index. The average commute time in Calgary is around 24 minutes.
In Vancouver, it can be challenging to drive due to limited parking and high traffic during peak hours, despite the city's robust public transit options. Highway 1, Kingsway, Marine Drive, and Granville Street are some of the busiest roads in the city and can often experience heavy traffic congestion. TomTom reports 23 minutes to travel a distance of 10 kilometres in Vancouver. Additionally, finding parking spots in popular areas like downtown Vancouver can be quite tricky, which makes driving in the city a bit of a hassle at times.
Does Calgary or Vancouver Have Better Things to Do?
Both cities provide numerous opportunities for entertainment, but there are some notable variations in terms of culture, climate, and amenities. Calgary has a more business-oriented atmosphere and is renowned for its cowboy culture, while Vancouver is more relaxed and focused on nature. Let's delve into the outdoor activities, arts and culture, and food and nightlife scenes of each city.
Outdoor Activities
Calgary offers endless outdoor activities, from hiking and biking in the nearby mountains to kayaking on the Bow River. Calgarians take advantage of the winter months to enjoy some of the best skiing in the country, with the "Big 3" ski resorts and beautiful Lake Banff nearby.
During the warmer months, <a href="https://www.calgary.com/blog/which-parks-are-the-best-in-calgary/">Calgary's parks</a> and green spaces come alive with picnics, <a href="https://www.calgary.com/blog/where-are-the-best-summer-festivals-in-calgary/" title="Summer Festivals in Calgary">festivals</a>, and outdoor concerts. The city is also home to the annual <a href="https://www.calgary.com/blog/best-things-to-do-during-the-calgary-stampede/">Calgary Stampede</a>, a world-famous 10-day rodeo that attracts visitors from all over the world. Other popular outdoor activities in Calgary include snow tubing at Mount Norquay, ice skating at Bowness Park, and exploring Prince Island Park, where many of the city's festivals and events take place.
Vancouver, for its part, is a hiker's town. Mountains and evergreens surround the city, providing ample opportunities for outdoor enthusiasts to explore the area's natural beauty. Popular<a target="_blank" href="https://canadiantrainvacations.com/blog/outdoor-activities-vancouver"> outdoor destinations in Vancouver</a> include Stanley Park, Capilano Suspension Bridge, and Grouse Mountain, among others.
Arts & Culture
When evaluating which city has the better arts and culture scene, it's important to consider factors such as the number and quality of museums, theatres, art galleries, music venues, festivals, and other cultural events.
Calgary has over 80 annual festivals, from music and dance to theatre and visual arts. The Glenbow Museum, Calgary Zoo, and Heritage Park Historical Village are some of the popular attractions in the city. Each offers a glimpse into its rich history and diverse cultural heritage. This is also evident in vibrant neighbourhoods such as Kensington and Chinatown, where residents experience a range of languages and cuisines from around the world. GlobalFest, the Calgary International Film Festival, and the Lilac Festival are some of the most highly attended annual events in the city.
In comparison, Vancouver's arts and culture scene boasts <a target="_blank" href="https://www.destinationvancouver.com/activities/attractions/museums-art-galleries/">22 museums and art galleries</a>, including the Museum of Anthropology, Vancouver Art Gallery, and Science World, among other popular destinations. Over a dozen major festivals happen throughout the year (with an abundance of smaller celebrations), including the Cherry Blossom Festival, Dine Out Vancouver, and PuSh International Performing Arts Festival. Neither city will leave you wanting when it comes to <a href="https://www.calgary.com/blog/category/things-to-do-in-calgary/">things to do</a>!
Food & Nightlife
<img src="https://assets.site-static.com/userfiles/4845/image/calgary-vs-vancouver-things-to-do.jpg" style="display: block; margin: 20px auto;" alt="Things to Do in Calgary" />
Both Vancouver and Calgary have distinct culinary scenes with unique traditions and specialties. Ultimately, the decision between the two depends on personal preference and taste.
Calgary's food scene typically revolves around meat and barbecue. The city is famous for serving Alberta beef, which is raised on nearby ranches and can be found in many restaurants across Calgary. There's also a thriving craft beer scene in the city, with many <a href="https://www.calgary.com/blog/where-are-the-best-breweries-in-calgary/" title="Best Breweries in Calgary">breweries and brewpubs</a> offering a variety of local beers. Live music venues and bars are concentrated downtown, with popular spots like Betty Lou's Library and the Blues Can.
Vancouver's culinary scene offers a wide range of international cuisines. The city is particularly famous for its seafood, with fresh fish and shellfish caught off the coast of British Columbia. Fusion cuisine is also popular, combining flavors and ingredients from different cultural traditions. Some of the best nightlife spots in Vancouver include Moose's Down Under Bar on Granville Street, The Cambie Pub in Gastown, and the Sandbar Seafood Restaurant on Granville Island.
Calgary vs. Vancouver: Which City is Right For You?
Deciding whether to live in Calgary or Vancouver may be a tough decision—or an easy one, depending on what you want out of a new home. Calgary offers a dynamic, energy-driven community with a touch of traditional charm, while Vancouver provides a scenic, culturally rich environment. Both cities cater to a variety of lifestyles and preferences, making them desirable choices. Reflect on what you value most in a city—whether it's Calgary's spirited ambiance and affordability or Vancouver's picturesque setting. Understanding the differences is key to finding your ideal home.
2024-02-07T08:15:00-07:002024-02-07T08:16:27-07:00Justin Havretag:calgary.com,2012-09-20:18662What's the True Cost of Selling a House? Expenses Every Seller Should Know<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/home-selling-costs.jpg" alt="What Do Sellers Pay For When Selling Their Home?" width="475" />If you're entertaining the thought of selling your home here in Calgary soon, you need to be aware of the costs involved. Selling a house involves more than just finding a buyer and handing over the keys. From real estate commissions and legal fees to the costs of <a href="https://www.calgary.com/blog/get-the-upper-hand-by-staging-your-home/">home staging</a> and moving, the financial implications are extensive. By understanding these costs, you can budget effectively, negotiate where possible, and ensure you’re prepared for the financial responsibilities that come with selling a property.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />Main Takeaways
Real estate commission fees in Canada range from 3% to 7% and can often be negotiated to potentially reduce selling costs, with various strategies such as assessing local market rates to inform negotiations.
Legal fees, which include tasks such as managing the closing process, typically range from $500 to $1,000 but can be higher depending on the complexity of the sale and any additional legal issues that arise.
Preparing your home for sale through staging and repairs is important for maximizing property appeal and can cost on average around $6,000, with numerous cost-effective staging techniques available to enhance your home’s value without significant financial strain.
Breaking Down the Commission Fees
Real estate agent commissions are a major part of closing costs when selling a house. Based on the selling price of the home, these commissions range between 3% to 7% in Canada. For instance, in Alberta, it’s not unusual to see a commission of 7% on the first $100,000 and then 3% on the rest. These commissions are typically split between the buyer’s and seller’s agents. This means for a home sold at $400,000, the commission would amount to $16,000.
While you might think that selling or buying your home without a real estate agent, this is not usually not the best idea. You can negotiate with your real estate agent regarding the commission percentage. Most buyers and sellers get a better deal when they work closely with a real estate agent instead of trying to go it alone. It is worth the investment to <a href="https://www.calgary.com/blog/using-a-real-estate-agent/">work with a real estate agent</a> who is going to negotiate on your behalf and work hard for you during the process.
Negotiating Commissions: Tips and Strategies
Even though real estate agent commissions can be a major expense, they aren’t unchangeable. Prospective sellers can leverage their negotiating skills to potentially reduce these costs. Walking away from negotiations can strengthen your position, and gauging the real estate agents’ negotiation skills can hint at their effectiveness in representing the sale.
Also, understanding the average commission rate in your area and assessing local market conditions can inform realistic expectations for commission negotiations. However, during negotiations, it’s important to keep the competitiveness of the buyer’s agent fee in mind to ensure your property appeals to a broad audience.
Many sellers are tempted to look at the <a href="https://www.calgary.com/blog/the-pitfalls-of-fsbo/">pros and cons of FSBO home selling</a> as a way to avoid paying commissions, but the vast majority find that the small savings are nowhere near worth the added work doing so involves.
Legal Necessities and Lawyer Fees
When it comes to making sure that every part of your real estate transaction is legal and binding, a lawyer is going to handle this work for you. In Canada, real estate lawyer fees typically range from $500 to $1,000. However, it’s wise to budget at least $1,500 for legal fees to cover any additional costs that may arise during the process.
It is always worth it to spend money on an attorney to make sure that your real estate transaction goes smoothly. If the paperwork isn't done correctly, this can slow up the transaction. You will feel more confident every step of the way when you know an attorney is handling all of your paperwork.
Legal costs in the house-selling process might encompass resolving title issues to confirm a property’s legal ownership and drafting or reviewing the real estate contract. On the closing date, the lawyer manages the financial transaction, ensuring money from the buyer’s lawyer is received and helping to prevent or resolve disputes.
Scope of Real Estate Lawyer Services
Safeguarding the seller’s interests during the selling process is a key role played by real estate lawyers. They prepare and critically review purchase agreements and other sale-related documents. Their negotiation support on terms within the purchase agreement ensures the seller’s interests are well protected.
These lawyers proactively address and rectify any existing legal issues, such as liens or encroachments, and ensure that outstanding permits are fulfilled using sale proceeds. In certain circumstances, they may charge extra fees for services not typically included in the sale process, such as navigating complex closing scenarios or resolving multiple liens.
Average Costs for Legal Representation
The cost of legal representation can vary based on several factors. The complexity of the real estate transaction, the location of the property, and the procedures involved in discharging a mortgage can all influence the total legal fees incurred. For instance, if there are disputes or title issues that require additional time and expertise to address, legal fees may increase.
The total legal fees can also be influenced by the lawyer’s billing method, whether it is a flat fee or based on hourly rates. Therefore, it’s important to discuss these details with your lawyer early in the selling process to avoid any surprises.
Preparing Your Home for Sale: Staging and Repairs
Investing time and money in preparing your home for sale is a crucial step before you display that “For Sale” sign on your lawn. This includes staging and repairs, which can cost anywhere from several hundred to several thousand dollars. On average, sellers in Canada spend about $6,000 on pre-listing <a href="https://www.calgary.com/blog/high-roi-improvements/">home improvements</a> before selling their property.
Addressing minor issues and common repairs, which can be inexpensive and completed quickly, significantly affects the sale process by enhancing the overall impression of the home. Additionally, cleaning services for home preparation typically cost between $150 and $300.
Home staging can also be avoided altogether if you are not concerned about having your home on the market for an extended period of time, no matter what condition it's in.
The Impact of Home Staging on Selling Price
In real estate, home staging is not simply a fancy term; it strategically enhances your home’s appeal to prospective buyers. This involves showcasing the property’s best features and increasing its marketability. The cost of home staging can vary, typically ranging between $800 and $3,000 depending on the level of service and the size of the home.
Effective staging can significantly increase the perceived value of a home, setting the stage for a potentially higher selling price. A well-staged home often sells faster and garners a higher price as it helps potential buyers envision the property as their future home.
Cost-Effective Staging Techniques
The process of staging your home for sale doesn’t have to result in a financial strain. There are several cost-effective techniques you can employ to make your property more appealing. For instance, decluttering all rooms and closets is a cost-free way to make spaces appear larger and cleaner.
Depersonalizing the home by removing personal items like family photos allows potential buyers to better envision themselves in the space. Prioritizing minor necessary repairs over personalized or expensive renovations can also save you money while improving the appeal of your home. Even simple touches, such as fresh flowers and nice towels in the bathroom, can enhance the home’s appeal inexpensively.
If budget allows, investing in a professional cleaning service before showings can make the property stand out without significant expense. Removing or rearranging furniture helps to maximize the perception of space and creates a more inviting atmosphere. Finally, seeking the opinions of friends or family can reveal overlooked staging opportunities that can be addressed prior to listing the property.
Additional Selling Expenses to Consider
<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/moving-costs.jpg" alt="Moving Costs Are Just One Other Expense to Consider" width="475" />
The process of selling a house encompasses more than merely covering real estate agent and lawyer fees. There are several additional selling expenses you need to consider. Sellers may also need to account for the following costs when selling a property:
Adjustments for pre-paid property taxes and utility bills
Updates to homeowner’s insurance policies
Fixed disbursements costs related to selling a property
Additional legal representation costs
Understanding Mortgage Discharge Fees
Mortgage discharge fees are another factor to consider if you have an outstanding mortgage balance on your property. These fees can vary by province and territory, with some regions having regulations in place governing the maximum chargeable amount for this service. In areas where mortgage discharge fees are not regulated, lenders may impose a fee ranging from no charge up to $400 to discharge a mortgage.
However, the cost can increase significantly if professional fees are required for discharging a mortgage. These services, provided by a lawyer, notary, or commissioner of oaths, typically fall between $400 and $2,500.
Budgeting for Moving Out
Lastly, remember to allocate funds for moving out. If you're planning on moving using your own resources within the same town and will be hiring some friends and family to help you out, this expense will be quite low.
If you're moving to another city and using a professional mover, this cost can run into the thousands. For this type, it's a good idea to get a few estimates before completing a final home sale budget so that you'll know what type of <a target="_blank" href="https://www.moving.com/movers/moving-cost-calculator.asp">moving costs</a> you'll actually be dealing with. While it might seem like a hefty price to pay, it can save you a lot of time and hassle during an already stressful period.
Tax Implications When Selling Your Property
Apart from the direct costs associated with selling a property, consider also the tax implications. For instance, depending on the province or territory from which the commission originates, real estate commissions may be liable to the Goods and Services Tax (GST) or Harmonized Sales Tax (HST). That means taxes must be paid on real estate commissions as part of the transaction costs when selling a property. These rates differ depending on the province.
Plus, a capital gain may be realized when selling a home in Canada. The principal residence exemption, if applicable, can render the capital gain tax-free if the property served as your primary residence throughout the entire ownership period. This can result in significant tax savings, so it’s worth discussing with your real estate lawyer or tax advisor.
Preparing For the Costs of Selling
Take a good look at all of the <a href="https://www.calgary.com/blog/home-closing-costs/">closing costs</a> and other expenses involved in selling a home so that you aren't in for a shock when the deal closes. It's just a matter of making a few calls to find out exactly how much you should be setting aside when listing your home. With careful planning and strategic decisions, you can maximize your property’s appeal, attract qualified buyers, and secure the best possible selling price. After all, your home is likely one of your most valuable assets; it’s worth investing the time and effort to sell it right.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2024-02-06T11:00:00-07:002024-02-06T12:57:56-07:00Justin Havretag:calgary.com,2012-09-20:18751Mastering the Art of Selling a House: Your Essential Guide for a Smooth Sale<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/selling-guide.jpg" alt="Step-by-Step Guide to Selling a Home" width="475" />If you’re contemplating selling your house, you’re likely seeking straightforward, effective advice to close the deal efficiently and on your terms—especially if you're trying to get buyers in a <a href="https://www.calgary.com/blog/how-to-buy-a-home-in-a-competitive-market/">competitive market</a>. The essentials of selling a house range from insights on market dynamics to choosing an ally in your real estate agent and preparing your home for the market. All of these steps take you to the final handshake at the closing of the real estate transaction so you can proudly put that "sold" sign out in front.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />Main Points
It’s essential to understand the current real estate market’s condition, navigate market fluctuations, and set a competitive pricing strategy with the aid of professionals like real estate agents.
Choosing the right real estate agent is critical; evaluate their industry experience, sales statistics, and marketing approach to attract potential buyers and handle negotiations effectively.
The closing process involves multiple financial and legal steps, including preparing a settlement statement, accounting for legal fees and closing costs, and finalizing the sale with necessary documents.
Understanding the Canadian Real Estate Landscape
Before you put your property on the market, it is vital as a homeowner to comprehend the current real estate market. Keeping realistic expectations and making deliberate decisions ensures the best possible outcomes.
Market fluctuations can be quite a challenge when selling a home. However, understanding how to navigate them can give you a significant advantage. Awareness of pricing strategies can be helpful for sellers to understand and anticipate potential buyer behaviour, and understanding the <a href="https://www.calgary.com/blog/how-much-will-you-have-to-pay-to-sell-your-home/">true cost of selling a house</a> before doing so can be a tremendous help. Some strategies to consider include setting the price just below market value if it's a competitive market or pricing it higher if there are plenty of interested buyers.
By implementing these strategies, sellers can increase their chances of attracting prospective buyers who are genuinely interested.
Selecting a Stellar Real Estate Agent
A real estate agent provides essential guidance and support throughout the home-selling journey, ensuring the process moves forward smoothly. They also have access to specialized tools like the MLS database, facilitating in-depth analysis of recent sales and property comparables.
Your agent is going to help you formulate a plan for selling your home fast. Look for an agent with a lot of experience that you feel comfortable talking to and with a good track record. You can do this with a phone call and then can meet him in person to make sure that you both connect and can form a team to get the house sold ASAP.
Selecting a competent real estate agent plays a pivotal role in selling a house for the highest price, within the shortest time frame, and with the least stress. Prior to hiring anyone, it’s necessary to <a href="https://www.calgary.com/blog/real-estate-agent-questions/">ask the real estate agent questions</a> about their performance through sales statistics, average days on the market, and proficiency with the property type, including their track record with recently sold properties.
If home repairs or updates are necessary, it is advisable to engage with potential agents two to three months in advance to gauge compatibility and foster effective communication.
Pricing Your Home Competitively
Leverage local market conditions and recent comparable sales data to establish an accurate and competitive asking price, ensuring that pricing strategies are not based on outdated or irrelevant data. Consider the property’s specific characteristics, such as location and potential drawbacks like noise pollution or unsightly views, and adjust the pricing accordingly, guided by logic and market data rather than emotional attachment.
Real estate professionals employ comparative market analysis as a tool to ascertain the market value of a home by comparing it to properties of similar size and age that have recently sold in the same area. To conduct a thorough analysis, agents should analyze a range of competitors, examining sales from the last twelve months to provide a clear understanding of how the subject home compares to others in the market.
Implement diverse pricing tactics, including setting the home's sale price slightly above, well above, or below market rates, to find the balance between attracting buyers and achieving fair value, particularly for properties staged in certain search price brackets.
Preparing Your Property for the Market
<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/preparing-property.jpg" alt="Tips for Getting Your Home Ready for the Market" width="475" />
Sprucing up curb appeal can be a quick project and can boost property value. Walk over to the sidewalk and look back at your home. Is there any clutter outside? Does your house appear dirty and in need of a good wash? The exterior of your home is the first thing that potential buyers are going to see, so it's important to get things neat, tidy and clean in a hurry. Trim your hedges and shrubs. Cut the grass. Pull weeds and cut back any greenery that covers walkways.
Painting the front door a stand-out colour can attract the buyer’s eye to the entry, while adding new, visible house numbers is a <a target="_blank" href="https://www.bobvila.com/articles/diy-home-projects/">simple DIY project</a> that can help buyers easily identify the home.
An inviting seating area on the front porch with a porch swing or rocking chairs, as well as features like fire pits, can generate an emotional attachment with the buyer and increase the usability of the yard.
Start Cleaning and Tidying
Sit down and write up a plan to get every room clean and tidy fast. When you have a plan in front of you with the actual steps that you need to take, you'll be able to scratch them off as they get done and see the progress being made. With a solid plan in front of you, nothing will be left to chance and you'll be able to cover the whole area in record time.
Make sure your kitchen, bathrooms, and floors sparkle. Use old-fashioned elbow grease or call in professional cleaners to get the job done. Can you walk into your walk-in closet? Does your car barely fit into your garage? Start packing early and put your seasonal and personal things into storage. Make your rooms and cupboards look spacious.
Now's not the time to do any heavy sorting. You simply want to get your home looking generally tidy and clean in case the agent calls tomorrow with somebody who wants to see your home. The sorting and de-cluttering needs to be done once the tidying and cleaning are finished.
Find a Handyman to Do Repairs
Put on your home inspector‘s hat and walk through your house. Make a list of the items that need attention and arrange for repairs. Focus on your entryway, drywall, paint, sticky/squeaky doors, leaky faucets, flooring and countertops.
If you have any noticeable repairs that need to be done look for a handyman. Make sure that you let the person you contact know that you need these repairs done fast. This will eliminate any repair people who are booked up solid for the next few weeks.
Decluttering and Staging
Decluttering makes the home appear larger and more open, enhancing the presentation of spacious environments, and <a href="https://www.calgary.com/blog/get-the-upper-hand-by-staging-your-home/">staging the home for sale</a> can help buyers envision themselves in the home. A clutter-free home with streamlined decor increases the property's perceived value and suggests that the property has been well-cared for and maintained.
Removing personal items and eliminating clutter is essential since it prevents buyers from getting distracted, focusing their attention on the property’s key selling features. Buyers have difficulty picturing themselves in your house when your personal items are on display.
Investing in Worthwhile Renovations
The average payback for home remodelling projects is about 70%, meaning some renovations do not yield a high return on investment, and many don't have much of a return at all. Bathroom and kitchen renovations are particularly beneficial, with the potential to recoup around 75% of the investment.
Marketing Mastery: Showcasing Your Home
The marketing plan of a listing agent should include outlining the unique selling points of the property. Apart from the listing description, this can also be done by including high-quality photos, as they captivate buyers, and offering virtual tours for 24/7 viewing flexibility, which can be decisive factors for buyers to schedule tours or continue their search.
Syndicating listings across various websites, including multiple listing service platforms, is a strategic part of <a href="https://www.calgary.com/blog/ways-to-help-market-a-home-for-sale/">marketing a home</a> to ensure a property gains extensive online visibility.
Professional Photos and Virtual Tours
Professional real estate photographs are crucial for drawing attention to online property listings. They help showcase the property’s features and attract serious buyers likely to request in-person tours or attend open houses.
Virtual tours and 3D walkthroughs offer several benefits, including:
Engaging potential buyers for longer periods
Increased social media interest
Providing a realistic experience that fosters a sense of ownership.
Effective Online and Offline Promotion
A successful real estate marketing plan must start with a strong online presence, given that most home buyers use the internet in their home search. Some effective neighbourhood marketing tactics include yard signs, QR codes, door hangers, word-of-mouth, and traditional media. These tactics are effective in promoting the property locally and cannot be overlooked.
Getting Ready for Home Showings
When your home has started to catch the attention of buyers, you'll have to be ready for them to visit at any time. Your home should be ready for that, but there are a few extra steps to take before the first showing or open house.
If you have any pets that you need to remove from the home before they can be shown, figure out a plan of action for them right away. In some cases, you'll be able to simply put your overly-friendly dog in the backyard during any house viewings but in other cases, you may want to get a relative or friend to look after him on a short-term basis.
Bright homes often have a higher resale value, so ensuring a bright ambiance is part of <a href="https://www.calgary.com/blog/showing-tips-for-your-next-open-house/">preparing your home for showing</a>. Get your windows cleaned, inside and out. Pull back blinds and draperies to let natural light in. If you still have some dark spots, add floor or table lamps to the area.
Navigating Offers and Negotiations
<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/offers-negotiations.jpg" alt="Negotiating is a Key Part of the Real Estate Transaction" width="475" />
The negotiation skills of a real estate agent are fundamental to steering clients through the emotionally charged process of home selling and devising strategic negotiation plans. Negotiations are more effective when based on a comprehensive strategy that clearly understands the property’s market value and recognizes who holds the upper hand in the current real estate landscape. In some cases, consulting a real estate attorney can provide additional legal guidance during the process.
It is crucial for both buyers and sellers to be ready to terminate negotiations if crucial terms are not mutually agreed upon, hence highlighting the need to pinpoint non-negotiables in advance.
Evaluating Buyer Proposals
Sellers should evaluate not only if a buyer is financially qualified with a pre-approval or pre-qualification but also take into consideration the reliability of the lender backing the potential buyer. The seller’s timeline should be considered when assessing offers, ensuring that the buyer’s formal mortgage commitment timing and proposed closing date are compatible with the seller’s moving plans.
The Art of Counteroffers
Skilled negotiators can maximize the value of a deal by determining optimal strategies to achieve the highest sale price or other value aspects important to the seller. Sellers can counter a buyer’s initial offer to change the purchase price, increase the earnest money deposit, or discuss seller concessions.
The Closing Process Demystified
The closing process involves inspection, ensuring a clear title, and signing documents as important steps before the sale is finalized. After signing the final settlement agreements, the seller can collect the proceeds from the escrow company typically within one business day.
Understanding Legal Fees and Closing Costs
Real estate lawyer fees generally range between $500-$1,500, and cover services such as title search, closure of permits, verifying mortgages and lines of credit, and preparing a Statement of Adjustments. Sellers are responsible for property taxes up to the closing date and can expect to account for other <a href="https://www.calgary.com/blog/home-closing-costs/">closing costs</a>, such as mortgage discharge, real estate agent commission, and potential repair costs.
Finalizing the Sale
Sellers must have their lawyers prepare the Statement of Adjustments, which details items like prepaid property expenses that the buyer needs to reimburse, and ensure completion of necessary documents beforehand. On the closing day, after finalizing all financial transactions, the seller’s lawyer ensures any outstanding debts and taxes are settled with proceeds from the sale. Then, after everything is wrapped up, all that's left is to release the keys to the buyer.
Post-Sale Considerations
Once the sale is concluded, sellers may have to pay taxes and proceed with the relocation to their new residence. Capital gains tax applies to 50% of the profit from selling a non-principal residence property. Homeowners may be exempt from paying capital gains tax on the sale of a residential property if it’s deemed their principal residence, the property the owner primarily uses for their own living purposes. There are stipulations for claiming a principal residence exemption, including annual designation, restrictions on earning rental income, and implications if the property was not solely the principal residence throughout ownership.
Get to Learn The Process of Selling a House
Selling a house is a complex process, but with the right guidance, it can be a smooth ride. From understanding the real estate landscape to post-sale considerations, there are several steps to familiarize yourself with in order to be ready for the selling process. Now that you’re equipped with this knowledge, you’re well on your way to mastering the art of selling a house.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2024-02-04T16:03:00-07:002024-02-08T12:56:57-07:00Justin Havretag:calgary.com,2012-09-20:18845Best Paint Colours for Selling a House: How to Transform Your Space to Sell<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/paint-home-for-selling.jpg" alt="What Are the Best Paint Colours for Selling a House" width="475" />Navigating the world of paint colours for a house can be tricky. It can be tempting to <a href="https://www.calgary.com/blog/how-to-sell-a-house-as-is/">sell your house as-is</a>, but adding new paint colours is a relatively quick and cost-effective way to market the home and sell quickly. What colours homeowners choose to paint their walls can also affect the price of a home, which can be the motivation homeowners need to get the job done. No matter what colours you choose, a fresh coat of paint can provide more improvement per dollar spent than many other home improvements. By investing in the paint in the right colours for your neighbourhood and the home itself, you can increase your appeal to buyers and speed up the sale of your home.<br /><br />Key Points
Neutral interior paint colours like beige and greige are preferred for their versatility and ability to appeal to a wide range of potential buyers, creating a calm and spacious atmosphere.
The exterior paint colour of a home can significantly boost its <a href="https://www.calgary.com/blog/the-basics-of-curb-appeal-for-home-sellers/">curb appeal</a> and value, with classic white exteriors providing a clean and inviting look and rich hues for front doors and trim, adding a striking impression.
Consistency in the colour scheme between a home’s interior and exterior is crucial for creating a unified look, and special consideration should be given to the choice of paint for functional spaces like kitchens, bathrooms, and home offices.
Selecting the Ideal Palette: Interior Paint Colours to Enhance Your Home
Choosing the ideal interior paint colours can significantly enhance your home’s appeal. The goal is to create an inviting atmosphere that appeals to a wide range of potential buyers. Some tips for choosing interior paint colours include opting for neutral colours, which provide a versatile backdrop that allows other elements in the room to stand out while also creating a sense of calm and balance. You can also consider using lighter shades to give a room a more spacious feel or darker colours for an intimate vibe.
Embracing Neutrals for Versatility
Versatile choices for any home, neutral colours like beige, greige, and warm gray are popular. They can create a serene and peaceful ambiance, serve as a blank slate for <a href="https://www.calgary.com/blog/decorate-your-home-just-like-the-pros-with-these-easy-design-tips/">home decor</a>, and allow for versatility in decorating. In addition, using the same shades of neutral colours throughout the home can create a sense of harmony and cohesion.
For instance, beige, with its soft shade, seamlessly blends with other colours and design elements in a room. It imparts a warm and cozy atmosphere while also conveying a sense of spaciousness and earthiness. So, if you’re looking for a colour that’s versatile, timeless, and appealing to a wide range of buyers, neutrals are a great option.
Adding Depth with Warm and Cool Tones
Strategically using warm and cool tones can impart depth to your home’s interiors. Warm tones, such as red, orange, beige, yellow, and rose pink, can elicit feelings of comfort and warmth, making them well-suited for establishing an inviting ambiance. On the other hand, cool tones like gray, green, and blue can induce a sense of calm and relaxation, creating a serene and tranquil environment.
However, achieving the right balance is key. You don’t want your space to feel overwhelmingly warm or drastically cool. Instead, strive for a harmonious blend of warm and cool tones. For example, a light neutral colour can strike a balance between the two, fostering a harmonious and soothing atmosphere in a room.
Statement Walls: When to Use Bright Colours
When used wisely, bright colours can be potent tools. Here are some tips for using bright colours effectively:
Use a statement wall featuring a bold colour to add personality and flair to a room, creating a focal point that draws the eye.
Pair bright colours with neutral or soothing tones to establish a dynamic and animated ambiance in a space.
Use bright colours sparingly to avoid overstimulation.
Successful use of bright colours hinges on considering the room’s layout and architecture. For instance, a statement wall is most effective when placed against a solid wall devoid of openings, such as windows and doors. Adding a pendant light above the statement piece can further enhance its visual impact.
The Appeal of Earthy Tones
Some of the top colours are those that bring to mind natural settings. Mossy or sage greens, taupe colours and other warm but muted hues were all associated with quicker sales and better prices. These colours have both personality and wide appeal. Neutral colours like these also go well with a wide variety of furniture and can help buyers envision themselves living in the home with their own belongings during home showings, making them some of the best interior paint colours.
Should You Go Gray?
Gray is considered one of the top trending colours for home interiors. With the right lighting, gray can look clean, modern, and stylish. However, gray doesn't fit every house and every room. In parts of the home that are less bright, gray can look brooding and uninviting. It is also not a great choice for rooms like nurseries, which should be painted in warm and comforting tones.
Exterior Elegance: Painting Projects to Boost Curb Appeal
<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/exterior-painting.jpg" alt="How Should You Paint the Exterior of Your Home?" width="475" />
Buyers can come to a conclusion about a house in less than a minute, and the exterior paint colour can make up more than half of that first impression. This is why a fresh coat of paint in a colour that appeals to them can make all the difference in the chance of a quick sale.
An exterior painted in shades of tan, gray or white can communicate comfort and shelter, increasing the appeal of the home. Blue is a universally appealing exterior colour for homes and can help set a home apart from those in neutral tones.
However, colours that are too far outside the norm can be off-putting to potential buyers. Unless you are in a market like Key West, where pastel hues are the norm, houses that are pink, purple or yellow are typically harder to sell. In one instance, a builder went with mustard yellow for a number of houses, which made them far harder to sell.
Sticking with an appealing colour can help your house sell more quickly and for a better price. If you currently have an unusual colour on your home, you may have to decide between preserving its current quirky character and finding a buyer quickly.
One approach involves considering your <a href="https://www.calgary.com/blog/home-architectural-styles/">home’s architectural style</a>. For example, Colonial-style homes are complemented by traditional colours like white or cream, while Victorian-style homes can accommodate more vibrant hues.
The Classic Charm of White Exteriors
White exteriors possess a timeless charm that can make your home positively stand out. They provide a clean and crisp aesthetic, enhancing your home’s curb appeal with a fresh and inviting appearance. Plus, white serves as a clean slate for potential buyers, allowing them to envision their own style and preferred colours.
There are also various shades of white paint suitable for exteriors, each with distinct undertones and levels of brightness. Whether it’s Snowbound by Sherwin Williams, Swiss Coffee by Behr, or White Dove by Benjamin Moore, you can choose a shade that best complements your home’s architecture and style preferences.
Rich Hues for Front Doors and Trim
Despite the timeless appeal of white exteriors, supplementing your front door and trim with rich, vibrant hues or natural wood can make a powerful and lasting first impression. This approach allows you to make a bold statement while maintaining a classic and appealing exterior. Adding exterior accents, like a colourful front door, can enhance the overall look of your home and its exterior elements.
When choosing colours for your front door and trim, consider the colour of your house’s exterior. Opting for a striking door colour that contrasts with a neutral exterior can create a powerful impression. Likewise, it’s crucial to coordinate the door colour with the surrounding materials for a harmonious colour scheme.
Harmonizing Interiors and Exteriors: Consistent Colour Schemes
Establishing a harmonious colour scheme between your home’s interior and exterior is vital for a unified look. This approach can foster a unified design and elevate visual attractiveness. For instance, using a consistent paint colour on the walls of connecting spaces and painting all of the trim throughout the house the same shade of white can create a sense of flow.
However, reaching this level of consistency necessitates meticulous thought and planning. It’s not just about choosing the same or similar colours. It’s about understanding how different colours interact with each other and how they can be used to create a seamless visual flow from one space to another.
Matching Shades for Visual Flow
Colour matching plays a significant role in enhancing a home’s visual flow. It fosters a unified and balanced appearance across various rooms, thereby ensuring a smooth transition from one room to another. Additionally, effective strategies for coordinating interior and exterior paint colours involve obtaining a sample from your wall and having it colour-matched, utilizing an electronic colour matcher, or consulting the <a href="https://www.homesandgardens.com/spaces/decorating/color-wheel-223700" target="_blank">colour wheel</a>.
However, while striving for colour consistency, it’s also important to avoid common mistakes such as overly matching the interior decor, playing it too safe with colour choices, and disregarding the home’s design. Remember, the goal is to create a harmonious and appealing colour scheme that enhances your home’s value and appeal to potential buyers.
Specialty Spaces: Unique Paint Considerations
<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/room-painting.jpg" alt="How Should Specific Rooms Be Painted?" width="475" />
While your home’s overall colour scheme is essential, it’s equally important to consider unique paint considerations for specific spaces like kitchens and bedrooms. These spaces serve specific functions and thus require a thoughtful approach when it comes to choosing paint colours.
Kitchen: Function Meets Style
Kitchens are spaces where function meets style. The colour of these rooms can significantly impact their ambiance and perceived value. For instance, warm colours like red, orange, and yellow can establish a welcoming and cozy ambiance, while soft yellows can infuse the bathroom with a sense of energy and invitation.
The colour of the kitchen plays a huge role in the appeal of the home as a whole. Research showed that white and eggshell kitchens were less appealing than other colours. The top-performing kitchen colours in their research were wheat yellow and other creamy colours, which resulted in an increase of $1,000 over the expected sales price.
The key is to make the kitchen feel warm and inviting; stark white can appear clinical and overly bright, while hues that are warm without being aggressive show better results.
Bedrooms: Creating a Personal Retreat
The bedroom is a personal retreat, a place for rest and relaxation. Therefore, the room’s colour should foster a calming and serene environment. According to colour psychology, tranquil and calming atmospheres can be achieved by opting for cool, subdued colours such as blues, greens, and purples.
The choice of colour can also affect the perception of space. Light colours can create a sense of spaciousness in a small bedroom, while dark colours can add a cozy intimacy to larger rooms. So, whether your bedroom is large or small, choosing the right paint colour can greatly enhance its appeal and functionality.
Home Office: Productivity in Colour
In today’s remote work environment, the <a href="https://www.calgary.com/blog/setting-up-a-home-office/">home office</a> has become an essential part of the house. The right paint colour for this space can notably affect productivity and mood. Some options to consider are:
Neutral tones, such as gray and beige, are often chosen for their calming influence
Blue hues, which support concentration and focus
Even energizing colours like yellow can be incorporated in a subtle manner.
However, it’s important to customize the paint colour according to the intended use of the office. For a space frequently utilized for video conferencing, neutral colours can create a professional backdrop without causing distractions. Lastly, it’s crucial to select colours that harmonize with the overall colour scheme of the home, considering both current use and potential future buyers.
Other Colour Considerations Before Selling
Having an idea of the best colours for your home is just part of the equation when you're getting ready to sell. You'll also need to consider how lighting affects the chosen colours and what the rest of your neighbourhood looks like.
The Impact of Lighting
The <a href="https://www.calgary.com/blog/a-short-guide-to-lighting-each-room-of-your-home/">lighting of a room</a> significantly influences the perception of paint colours. Different types of light can alter the appearance of colours, affecting their overall impact. For instance, artificial light can lead to a shift in hues, with incandescent bulbs accentuating certain colours and creating a warmer appearance.
On the other hand, rooms with low natural light can benefit from brightening colours like white, soft gray, and pastel yellow. Therefore, when choosing paint colours, it’s important to consider the lighting conditions of your home. Test your chosen colours under different lighting conditions, both natural and artificial, to ensure they look as good in reality as they do in your imagination.
Which Colours Are Universal No-Gos?
While ranges of colours have general appeal, a few specific colours tend to be off-putting to buyers. Dark colours are typically not popular; while they can be dramatic and interesting, they can also be unappealing for a wide swath of the population.
Slate gray and terra cotta were both associated with lower selling prices. These colours can show the downside of following a hot housing trend. While terra cotta was trendy several years ago, it can now make a home look dated, and homeowners who see this colour on their own home should consider updating it before taking any photos for online listings to sell.
Keep the Neighbourhood Colours in Mind
It's best not to just think of your own home when choosing colours for both the exterior and interiors. An otherwise highly desirable colour like blue may look out of place if yours is the only blue house in a sea of sand and brown homes. The contrast can be jarring and can hurt your home's appeal. You want your potential buyer to feel that the home is harmonious, which includes fitting with the neighbourhood as a whole.
What if You're Not Selling Quite Yet?
While there's plenty of advice for paint colours when you're getting ready to sell your home, you have much more wiggle room if it's not in your near future.
When You're Getting Tired of Neutral Colours
When you first purchased your home, you probably had a lot of neutral colour schemes running through the house. Over time, you may have gotten tired of the whole look and might be craving more vibrant colours. If you want to paint your bedroom a deep sky blue, you're free to do so. Even though a lot of people will tell you that you should keep the neutral colours in place, feel free to stand your ground. You have the right to change the look of your home at any time as the owner of your own house. You can always switch back to neutrals when you decide to put your house on the market.
You'll have to keep in mind, of course, that you'll have to throw some extra paint on the existing vibrant colours if you plan on painting a neutral colour over it in the future. This means that it will cost extra money for the paint job, but if you really are tired of the neutrals and want something more exciting, it may well be worth the extra cost.
Appealing to the masses when you're trying to sell a house is one thing, but making your home your own with your own sense of decor is another. Don't be afraid to make changes as long as you know what will be involved with changing things up again in the future.
The Psychology of Colour
There are certain colours that have been shown to affect people more positively than others that can be used to completely rejuvenate your home—and can influence your attitude on life as well! A lot of <a href="https://www.verywellmind.com/color-psychology-2795824" target="_blank">studies have been done on colours</a> and their effects on individuals.
If you have a colour that you are particularly drawn to and find that it lifts your spirits, you may want to consider using that colour instead of the ones listed above. Although research has been done in the area, everyone does have their own reaction to certain colours based on their own personalities. If you particularly love a colour and how it makes you feel, it's time to pick up a paintbrush and start painting.
Energizing and cheerful colours include orange, pink and yellow. If you can't decide on just one, you can use a combination of colours to bring a new spark into your home. Calming colours that you may want to consider if you're feeling stressed and lead a busy type of lifestyle include violet and soft green.
Ready to Sell? Check Your Paint Colours
Choosing the right paint colours for selling your house is a strategic decision that can significantly enhance your home’s appeal and value. From the versatile elegance of neutrals and the depth of warm and cool tones to the classic charm of white exteriors and the bold statement of rich hues, the right colour palette can transform your space, making it more appealing to potential buyers. But remember, it’s not just about choosing attractive colours. It’s about creating a harmonious and consistent colour scheme, considering the unique needs of each space, and preparing your walls properly for painting. With these considerations in mind, you can turn your home into a masterpiece that’s ready to impress any potential buyer.2024-01-30T09:42:00-07:002024-01-30T14:36:03-07:00Justin Havretag:calgary.com,2012-09-20:21766Moving to Calgary, AB: Is Calgary a Good Place to Live?<img src="/userFiles/4845/image/moving-to-calgary.jpg" style="display: block; margin: 0 auto 20px auto;" alt="Moving to Calgary, AB Living Guide" />
Moving to Calgary, Alberta, means embracing a city known for its stunning landscapes, vibrant culture, and dynamic lifestyle. Nestled between the prairies and the Rockies, the <a href="https://www.calgary.com/blog/calgary-lifestyle/">Calgary lifestyle</a> offers a unique blend of outdoor adventure and urban sophistication. Before moving, it's vital to navigate the ins and outs of relocating to Calgary, from understanding the various neighbourhoods to discovering local amenities and community activities. Whether you're drawn to the thriving job market or its world-famous events like the Calgary Stampede, the city beckons while promising a smooth transition. Get ready to explore and settle into Calgary, a city with a high quality of life and endless opportunities.
What Are the Best Parts of Living in Calgary?
Home to the Calgary Stampede and other amazing festivals
Incredible natural scenery all around
Zero in sales tax in Alberta
Incredible job opportunities with 118 of Canada's biggest companies
Skiing, ziplining, and other outdoor adventures at WinSport, Canada Olympic Park
More than 2,300 hours of sunshine per year
Hiking in the Rocky Mountains is just 1 hour away
Considered one of the cleanest cities in the world
Easy to get around with an advanced public transportation system
Free insurance with the Alberta Health Care Insurance Plan (AHCIP)
Is Living in Calgary Expensive?
The <a href="https://www.calgary.com/blog/calgary-cost-of-living/">cost of living in Calgary</a> has been on the rise in recent years. The Alberta Living Wage Network estimates that living in Calgary is slightly more expensive than in Vancouver, Edmonton, Toronto, and other large cities in Canada. A person needs to make an hourly wage of $23.70 to live comfortably here, which is almost $9 an hour more than Alberta's minimum wage of $15. The good news is that wages across Alberta are increasing faster than inflation.
The median home price for a single-family detached house is around $600,000. Attached <a href="https://www.calgary.com/townhouses/">Calgary townhomes</a> or row houses typically list from the $400s. <a href="https://www.calgary.com/luxury-homes/">Luxury homes in Calgary</a> can cost anywhere from $3 million to $10 million, depending on the size and location. However, according to the Canadian Real Estate Association, <a href="https://www.calgary.com/calgary-condos-lofts/">Calgary condos</a> remain more affordable than the national average. Condos sell for an average of around $350,000, compared to the Canadian national average, which exceeds $540,000.
More information about cost of living in Calgary:
<a href="https://www.erieri.com/cost-of-living/canada/alberta/calgary" target="_blank">Calgary Cost of Living - AreaVibes.com</a>
<a href="https://www.areavibes.com/calgary-ab/cost-of-living/" target="_blank">Cost of Living Calculator Calgary - ERIERI.com</a>
Getting a Job in Calgary
<img src="https://assets.site-static.com/userfiles/4845/image/calgary-jobs.jpg" alt="What to Know About Jobs in Calgary" style="display: block; margin: 20px auto;" />
Statistics Canada estimates that there are tens of thousands of jobs available in Calgary. However, it's still advised that a person should secure a job before moving to the city. Even with so many jobs available, the market is very competitive, especially for higher-paying white-collar jobs. Here's a closer look at the job market outlook in Calgary and the biggest industries and employers.
Job Market Outlook
Calgary's job market outlook is constantly fluctuating, which happens in nearly every major metropolitan area. According to the <a target="_blank" href="https://www150.statcan.gc.ca/n1/daily-quotidien/240105/dq240105a-eng.htm">December 2023 Labour Market Review</a>, the unemployment rate in Calgary is slightly lower than the national average. Calgary's unemployment rate is around 5.2%, compared to Canada's overall rate of 5.8% and Alberta's rate of 6.3%. Most of the job gains in Calgary in 2023 were in manufacturing, accommodation, and food services. Most of the job losses during the same period were in healthcare and social assistance, education, and public administration.
Over the next few years, Calgary is expecting shortages of workers in construction, nursing, computer programming, graphic design, and elementary and secondary teachers. This can present some good opportunities for workers with the right skills and education who plan to move to Calgary.
Biggest Industries & Employers
<a href="https://www.calgary.com/city-centre-condos/" title="Calgary City Centre Homes for Sale">Calgary’s City Centre</a> has the highest concentration of major employers, of which there are plenty: the city is home to 118 of the biggest corporate headquarters in all of Canada. The city has long been the center of the nation's oil and gas industry, and Calgary also has a thriving film industry. In the 21st century, the city's economic focus has shifted, and it is now considered a technology hub. Billions of dollars are expected to be invested in digital transformation technologies by 2030, which will be divided between aerospace technologies, financial services, digital media, and other scientific endeavours.
Some of the largest oil and gas sector employers in Calgary are Imperial Oil Limited, Suncor Energy, and Enbridge, Inc. Shaw Communication, which provides fiber internet and cable television services, is also one of the largest employers in the city. The Canadian Pacific Railway and the Calgary West Central Primary Care Network are also among the top 10 largest job providers here.
More information about finding a job in Calgary:
<a href="https://ca.indeed.com/jobs?l=Calgary%2C+AB" target="_blank">Search for Jobs in Calgary - ca.Indeed.com</a>
Getting Around in Calgary
<br /><a href="https://www.google.com/maps/place/Calgary,+AB,+Canada/@51.0491986,-114.1929506,10.95z/data=!4m6!3m5!1s0x537170039f843fd5:0x266d3bb1b652b63a!8m2!3d51.0447331!4d-114.0718831!16zL20vMDFyMzI?entry=ttu" target="_blank" style="text-align: center;">View Larger Map</a>
Calgary is spread out over a large geographic area, so it can take several months for a newcomer to learn their way around the city. A GPS map system on a smartphone is a must-have for driving in the city. Calgary also has an impressive public transportation system. Here are some things people need to know about getting around the city before moving here.
Driving
Calgary’s major roads for commuting are the Trans-Canada Highway (Highway 1) and Glenmore Trail (Highway 8). The former crosses most of Canada and passes through the <a href="https://www.calgary.com/chestermere-alberta-real-estate/" title="Chestermere Homes for sale">city of Chestermere</a> to the east of Calgary and the <a href="https://www.calgary.com/canmore-alberta-real-estate/" title="Canmore Homes for Sale">town of Canmore</a> to the west. Glenmore Trail parallels Highway 1 as a major east-west thoroughfare, but it runs through the southern part of the city and heads east to the <a href="https://www.calgary.com/langdon-alberta-real-estate/" title="Langdon Homes for Sale">Langdon community</a>.
Highway 201, also known as Stoney Trail or the Calgary Ring Road, is a bypass highway that circles the city's outer reaches. Deerfoot Trail (Highway 2) is a major north-south route, as is Crowchild Trail (Highway 1A). Macleod Trail (Highway 2A) enters the city from the south after passing through the <a href="https://www.calgary.com/okotoks-alberta-real-estate/" title="Okotoks Homes for Sale">town of Okotoks</a>, eventually leading to Downtown Calgary.
Rush hour traffic occurs on weekdays between 7:00 a.m. and 9:30 a.m. and from 3:30–6:30 p.m. The most heavily congested traffic occurs every Tuesday through Thursday from 4:00–6:00 p.m. The roads most likely to experience heavy congestion in Calgary are Deerfoot Trail, Crowchild Trail, and Stoney Trail. In 2022, Calgary commuters spent an average of 110 hours on the roads driving to and from work.
Public Transportation
More than 400,000 people use Calgary Transit to get around every day. The public transportation system consists of regular buses, rapid transit buses, light rail train services, and a free-to-ride tram system in the downtown area. The easiest way to figure out a route is to simply enter the departure and end points on the main page of the Calgary Transit website and let it calculate the trip.
The city operates more than 150 bus routes with more than 1,000 buses. All buses are wheelchair accessible, and most have bike racks.
The light rail system is called the CTrain. There are currently two light rail routes, the Red Line and Blue Line. There are 45 train stations scattered throughout the city along approximately 60 kilometres of track. More than 250,000 daily commuters use the train on weekdays. A third CTrain line, the Green Line, is under construction and is expected to be operational by 2026. It will add another 46 kilometres of track and 28 stations. The Green Line will connect <a href="https://www.calgary.com/north-communities/" title="North Calgary Homes for Sale">North Calgary</a> with <a href="https://www.calgary.com/south-east-communities/" title="Southeast Calgary Homes for Sale">Southeast Calgary</a>.
Calgary Transit Fares
Adult Single Trip: $3.70
Youth (13 to 17) Single Trip: $2.50
Youth (12 and under): Free
Adult Day Pass: $11.60
Youth (13 to 17) Day Pass: $8.50
Seniors (65+) Annual Transit Pass: $154.50
Low-Income Seniors Annual Pass: $31.00
Pets: Leashed dogs ride free
The Skywalk
Calgary's downtown skywalk system is known as Plus 15, a system of 86 skywalk bridges that connects 130 buildings in the City Centre. Though centred around the city’s business district, the skywalks connect to buildings in <a href="https://www.calgary.com/downtown-east-village-real-estate/" title="Downtown East Village Homes for Sale">Downtown East Village</a> and also in <a href="https://www.calgary.com/downtown-west-end-real-estate/" title="Downtown West End Homes for Sale">Downtown West End</a>. Outside temperatures can get very cold during Calgary's winters, and the skywalk allows pedestrians to comfortably move around the downtown area without going outside. The skywalk bridges are open and accessible from 6:00 a.m. to 9:00 p.m. on weekdays and from 9:00 a.m. to 7:00 p.m. on weekends and holidays.
More information about traffic in Calgary:
<a href="https://townfolio.co/ab/calgary/transportation" target="_blank">Calgary Commuting Times - Townfolio.co</a>
<a href="https://www.calgary.ca/planning/projects/road-construction-home.html" target="_blank">Calgary Road Construction News - Calgary.ca</a>
<a href="https://www.viamichelin.com/web/Maps/Map-Calgary-_-Alberta-Canada" target="_blank">Calgary Drive Time Map - ViaMichelin.com</a>
Schools in Calgary
<img src="https://assets.site-static.com/userfiles/4845/image/calgary-studying.jpg" alt="What to Know About the Schools in Calgary" style="display: block; margin: 20px auto;" />
Calgary School District No. 19 operates more than 240 public <a href="https://www.calgary.com/blog/calgary-ab-schools-guide/">schools in Calgary</a>, serving more than 100,000 students from kindergarten to Grade 12. Parents should carefully research schools when looking for a home, as different schools may suit different needs. The school district has a web-based search called Find a School that helps parents find their schools if they shop for a home in a particular neighbourhood.
The Calgary Catholic School District (CCSD) educates more than 62,000 students in 118 schools from kindergarten to Grade 12. Another school district in Calgary is the Southern Francophone Education Region No. 4, which offers French immersion and dual-language education for students.
The University of Calgary is the largest higher education institution in the city, located in the <a href="https://www.calgary.com/university-heights-real-estate/" title="University Heights Homes for Sale">University Heights neighbourhood</a>. It provides more than 250 bachelor's degree programs and more than 60 graduate programs in seven faculties and schools. Mount Royal University offers 13 degrees in 36 majors at its campus in <a href="https://www.calgary.com/lincoln-park-real-estate/" title="Lincoln Park Homes for Sale">Lincoln Park</a>. The University of Lethbridge is the third-largest university in the city. All three of these options are public research universities.
What's the Weather Like in Calgary?
It's no exaggeration when people say that Calgary is the sunniest city in Canada. Calgary has an average of 333 days of bright sunshine every year, totalling about 2,396 hours. The winds that blow across the Alberta prairie tend to push the clouds away, so residents benefit from sunny skies nearly every day of the year.
Winters in Calgary are very cold, with temperatures ranging from 0℃ during the days to as low as -12.6℃ at night. January is the coldest month, with daytime highs averaging -6.3℃. It often snows in the winter, but not too deeply. The average precipitation amounts to 10 mm per month. Chinook winds will blow across the prairie at times during the winter and can warm temperatures up by as much as 10 degrees in a few hours. Cowtown has significantly mild winters if you’re <a href="https://www.calgary.com/blog/calgary-vs-winnipeg/">deciding between living in Calgary or Winnipeg</a>.
During the spring, temperatures gradually warm up until daytime highs reach about 18℃ in May. Rains typically pick up during the spring, with May averaging about 60 mm of precipitation.
When summer arrives in June, the city gets the most rainfall of the year (about 80 mm). The rain comes during afternoon thunderstorms, which will sometimes be accompanied by hail. Temperatures will increase through July when daytime highs will be around 28℃. In terms of weather, July and August are the best times of year to visit Calgary.
The fall months are cool and dry in Calgary. Temperatures will gradually drop to below freezing by November, which is when the first snowfall of the year usually happens.
More information about the climate in Calgary:
<a href="https://weatherspark.com/y/2349/Average-Weather-in-Calgary-Canada-Year-Round" target="_blank">Average Weather in Calgary - WeatherSpark.com</a>
<a href="https://weather.com/en-CA/weather/today/l/23572c2998b3cfe86d9a16cdf83e9b097469087ab1e7120325448a4a3960c360" target="_blank">Calgary 10-day Weather Forecast - Weather.com</a>
Things to Do in Calgary
<img src="https://assets.site-static.com/userfiles/4845/image/calgary-activities.jpg" alt="What to Know About the Things to Do in Calgary" style="display: block; margin: 20px auto;" />
There are so many things to do in a city the size of Calgary that it's impossible to list them all in one location. Calgary has something for everyone to enjoy, from abundant outdoor activities to the arts and culture to an international dining scene. Here is a snapshot of some of the many things to do in the city.
Outdoor Activities
Outdoor activities in Calgary vary depending on the season.The city maintains more than 8,000 hectares of parkland for the public to enjoy, offering everything from family playgrounds to tennis courts and cricket pitches. Fish Creek Provincial Park, located in South Calgary’s <a href="https://www.calgary.com/deer-run-real-estate/">Deer Run neighbourhood</a>, is well worth checking out. It has more than 80 kilometres of trails for hiking and biking, an aquatics centre, a golf course, and a boat launch. During the winter, parks provide opportunities for cross-country skiing, sledding, tubing, and other seasonal activities.
Restaurants & Food
Calgary is a delightful place for foodies and those who enjoy trying new cuisines. Visit 17th Avenue SW in Downtown Calgary for a variety of restaurants to satisfy all tastes. Throughout several city blocks, diners can find authentic international fare from Pakistan, China, Japan, Vietnam, Korea, Yemen, Mexico, India, Italy, and the Mediterranean. This street turns into International Avenue on the east side of the Bow River, and the options for restaurants and fine dining continue along that section of the street.
Another spot to check out is 1 Avenue NE in the <a href="https://www.calgary.com/bridgeland-real-estate/" title="Bridgeland-Riverside Homes for Sale">Bridgeland-Riverside neighbourhood</a>. This area of the city has been redeveloped over the last two decades and is now considered one of the most walkable areas of the city. People can leave their condos or townhomes and stroll along 1 Avenue to find many fun and interesting dining options.
Arts & Culture
Calgary has so much public art on display that the city provides a <a target="_blank" href="https://maps.calgary.ca/PublicArt/">Public Art Map</a> just to help people locate all of it. Festivals and events throughout the year highlight the city's and region's unique arts and culture. This includes the Calgary Stampede in July, Calgary Culture Days in September, Canada Day, and New Year's Day.
Moving to Calgary, Alberta
Calgary stands as a vibrant city that beautifully marries the charm of nature with urban living. As you set your sights on moving to one of <a href="https://www.calgary.com/blog/best-neighbourhoods-calgary-ab/">Calgary’s best neighbourhoods</a>, remember that each neighbourhood and street echoes a story of community and adventure. With the resources at your disposal, you can ensure that your journey to calling Calgary home is as seamless and enjoyable as possible. Embrace the spirit of Calgary, from the majestic Rockies to the bustling city life, and let it inspire your new beginning.
2024-01-29T13:25:28-07:002024-01-29T14:14:25-07:00Justin Havretag:calgary.com,2012-09-20:21729How to Sell a House As Is Without Hassle or Fuss: 5 Steps for Success<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/selling-as-is.jpg" alt="Tips for Selling a Home As-Is" width="475" />Looking to sell your house quickly and without the fuss of renovations? You'll want to learn about selling a home as is, which offers you a roadmap to bypass repairs and maneuver through the sale with ease. From understanding legal obligations to strategizing price and negotiations, you’ll discover how to efficiently transform your ‘as is’ property into an attractive deal for the right buyer.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />Key Points
Selling a house ‘As Is’ means the homeowners offer the property in its current state without repairs, but they must still allow inspections and disclose known issues, which can affect the sale price.
An effective ‘As Is’ home selling strategy includes conducting a <a href="https://www.calgary.com/blog/pre-listing-home-inspection/">pre-listing inspection</a>, full legal disclosure, utilizing strategic marketing, and setting a competitive price to attract potential buyers.
Managing the sale of a house ‘As Is’ involves navigation of offers and negotiations, understanding buyer expectations, dealing with contingencies, and potentially partnering with a real estate professional to maximize sale outcomes.
What Does As is Mean In Real Estate?
Selling a house “as is” (in some cases, as a fixer-upper) means selling it in its current condition – no repairs or improvements made by the seller. This approach is an attractive option for homeowners looking to avoid the hassle of repairs, improvements, and the effort of boosting curb appeal, yet it comes with its own set of challenges. The negotiation process usually involves receiving and responding to offers from potential buyers, which can be a delicate dance of countering, accepting, or even generating competition among buyers for the most favourable deal.
Contrary to popular belief, an as is sale doesn’t exempt the property from inspection. Potential buyers, armed with their home inspector, will likely comb through the property to uncover any underlying issues. Even though the seller is not responsible for making repairs or improvements, these inspections can still impact the final sale price, as buyers will factor in the cost of necessary repairs into their purchase decision.
Evaluating the Pros and Cons of an As Is Home Sale
An as is home sale offers both advantages and disadvantages. The impact on the seller’s profit margin is one of the key factors to consider. Understanding what selling as is means can help both buyers and sellers make informed decisions. One of the main points is the responsibility for repair costs shifts to the buyer, which can lead to lower offers.
The profit margin, though significant, isn’t the sole factor influencing the decision to sell as is. The decision also hinges on the seller’s personal circumstances and the state of the local real estate market. A deep dive into these considerations is necessary to make an informed decision.
Why Sellers Choose the As Is Route
There are several reasons why sellers choose the as-is route. Time constraints often drive this decision, as sellers may not have enough time to make repairs or renovations before selling, especially under strict timelines due to a job relocation or personal circumstances. Occasionally, sellers opt for an as is sale of a property to bypass maintenance hassles and swiftly liquidate assets; it can also save time and money on <a href="https://www.calgary.com/blog/the-basics-of-curb-appeal-for-home-sellers/">efforts to boost a home's curb appeal</a>.
The Challenges Faced by As Is Sellers
Undertaking an as-is sale of a house isn’t devoid of challenges. A house that requires major repairs might not attract potential buyers, including cash buyers, limiting its appeal in the open market. Sellers may encounter deals falling through if buyers overestimate the expenses associated with necessary renovations and repairs.
Sellers must also navigate the legal implications of selling a house as is. Failure to disclose any known issues with the property can result in legal ramifications and compromise the integrity of the sale.
Preparing Your As Is Property for the Market
<img src="https://assets.site-static.com/userfiles/4845/image/preparing-as-is-home.jpg" alt="How to Get Your As Is Home Ready for the Market" style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" />
A certain degree of preparation is required before listing your as-is property on the market, including a pre-listing home inspection and researching laws related to <a href="https://www.calgary.com/blog/home-sellers-disclosures/">seller disclosures</a>.
Conducting a Pre-Listing Home Inspection
Conducting a pre-listing home inspection is an indispensable part of readying an as is property for sale. This assessment enables the seller to identify any existing issues or necessary repairs so that they're ready for the buyer's inspection and direct questions. The significance of a pre-listing home inspection in an as is home sale cannot be overstated, as it aids in attracting committed buyers and potentially securing a higher selling price.
The things assessed in a pre-listing home inspection encompass the major systems of the house and components related to structural integrity. It’s key to choose a reputable home inspection company, as the quality of the inspection can directly impact the final sale price.
Full Disclosure: Honesty is the Best Policy
Providing full disclosure is an integral part of the process when selling a house as is. Sellers are required to reveal any known defects or issues with the property, even when selling as is. Failing to disclose property defects can result in liability for breach of contract, fraud, and/or negligent misrepresentation. On the brighter side, full disclosure of the property’s condition ensures that buyers are fully informed about their purchase and can make well-informed decisions, thereby fostering trust and transparency in the transaction.
Marketing Strategies for As Is Properties
Once the property is market-ready, employing effective marketing tactics can significantly assist in drawing potential buyers. These strategies include:
Utilizing social media platforms
Posting engaging content
Using high-quality photos and videos
Developing email marketing campaigns
Using virtual staging to attract more leads
The goal of these strategies is not merely to garner interest among potential buyers but also to communicate the potential of the as is property effectively. By accurately describing the property using valuable adjectives and highlighting attributes that add value, sellers can effectively convey the property’s potential without relying heavily on written descriptions.
Highlighting the Potential of Your Property
Highlighting the potential of an as-is property is central to successful marketing. This involves focusing on the property’s square footage and unique features rather than its as is condition. By highlighting features such as a central location, standout amenities, and the functional benefits that the property offers, sellers can effectively attract and convince potential buyers of the value the home holds.
High-quality visuals, such as <a href="https://www.calgary.com/blog/professional-real-estate-photography/">professional photos</a>, significantly enhance the appeal of an as is property. Presenting the property in an appealing manner and exercising caution when adjusting the sale price can prevent the perception of desperation, thus conveying confidence to potential buyers.
Setting a Competitive Price Point
Setting a competitive price for an as is property significantly contributes to the selling process. It is important to research similar properties that have recently sold in the area to gauge market value, consult with real estate professionals, and utilize online tools to establish a fair and attractive price point. The price of an as is property is determined by factors such as the home’s location, comparable sales (comps), condition, updates, and the local market.
While price setting can be a complex process, it is worth investing the time and effort to get it right. An appropriate price not only attracts serious buyers willing to pay a fair price for the property but also creates a sense of urgency among buyers, potentially leading to multiple offers and a higher sale price.
Navigating Offers and Negotiations
Once the property is listed and starts drawing interest, sellers need to skillfully manage the intricate process of offers and negotiations. Buyers of as is houses generally anticipate acquiring the property in its present state, expecting to bear the expenses and schedules for essential repairs or upgrades. Sellers are advised to handle negotiations by countering at their list price, <a href="https://www.thebalancemoney.com/why-was-your-offer-rejected-1798843" target="_blank">rejecting unappealing offers</a>, or even attempting to generate a bidding competition among buyers—though these may be more difficult with an as-is sale.
While the negotiation process can be challenging, understanding the typical expectations of buyers, managing contingencies, and having a clear communication strategy can ensure a smoother transaction. Moreover, having a clear understanding of the legalities involved in the sale can help sellers avoid any potential pitfalls.
Understanding Buyer Expectations
Grasping what buyers anticipate is paramount when selling a house as is. When <a href="https://www.calgary.com/blog/buy-a-fixer-upper-home/">buying a fixer-upper home</a>, people anticipate:
Assuming responsibility for any necessary repairs or renovations
Being able to perform inspections to evaluate the property’s condition
Knowing that the seller will not be accountable for any repairs or enhancements.
In addition to understanding the condition of the property, buyers also typically negotiate the price of the as-is property by conducting thorough market research and demonstrating a willingness to make compromises. As a seller, it is important to anticipate these negotiations and be prepared to respond in a way that supports your home selling goals.
Dealing with Contingencies and Closing Costs
In addition to other considerations, sellers in an as is sale also need to manage contingencies and closing costs. Common contingencies in a real estate sale include appraisals, inspections, sales, and financing. If a contingency is not met, the buyer may be in default, which can lead to the sales agreement not being completed, thus risking the seller’s chances of selling the house.
Closing costs, which encompass the fees due at the settlement of the transaction, also play a significant role in the final sale price. Understanding these costs and factoring them into the sale price can help sellers avoid any surprises during the final stages of the sale.
Partnering with a Real Estate Professional
<img src="https://assets.site-static.com/userfiles/4845/image/work-with-agent.jpg" alt="Real Estate Agents Can Help Sell AS Is Homes" style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" />
The complexities of selling a house as is can be substantially simplified with the help of a reputable real estate agent. A real estate agent can play a crucial role in:
Minimizing unexpected issues
Establishing credibility with potential buyers
Ultimately maximizing the sale price of a house being sold in its current state.
They offer guidance to sellers throughout the entire home selling process, imparting valuable knowledge and information. Their assistance in managing potential <a href="https://www.calgary.com/blog/home-buying-contingencies-everything-you-need-to-know/">buyer contingencies</a> in an as-is sale can be invaluable, aiding in negotiations and guiding through the contingencies, such as inspections, that the buyer may incorporate in their offer.
Maximizing Your Sale: Tips and Tricks
Once your property is on the market and begins to attract potential buyers, the focus should shift towards optimizing the sale. Strategic pricing can have a positive impact on the sale of an as is property by attracting serious buyers who are willing to pay a fair price for the property and creating a sense of urgency among buyers, potentially leading to multiple offers and a higher sale price.
In addition to pricing, the timing of the sale also plays a significant role. The <a href="https://www.calgary.com/blog/how-to-really-know-when-to-sell-your-home/">optimal time to list a property</a> for sale is usually in the spring, between April and June, when buyer activity is typically high. Alternatively, listing in August and December, when there are typically fewer homes for sale, can also present an opportunity for your property to stand out.
The final sale price of an as is property can be greatly influenced by strategic pricing and timing. Determining the price requires careful consideration of various factors, such as:
the home’s location
comparable sales (comps)
condition
updates
the local market
Get the Best Result When Selling As Is
Selling a house as is can be a complex yet rewarding endeavour. From understanding the selling process and preparing your property for the market, each step towards the best sale price requires careful consideration and strategic planning. With the right knowledge, tools, and guidance, you can navigate the complexities of the as-is sale process and maximize your property’s value.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2024-01-24T11:57:00-07:002024-01-25T12:20:43-07:00Justin Havretag:calgary.com,2012-09-20:18729How to Stage a House For Sale: 10 Tips on Home Staging & Mistakes to Avoid<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/home-staging-tips.jpg" alt="Tips for Staging Your Home" width="475" />With a well-placed vase of fresh flowers and carefully arranged furniture, the art of home staging can transform a house into an inviting and desirable space—it's the interior counterpart to <a href="https://www.calgary.com/blog/the-basics-of-curb-appeal-for-home-sellers/">boosting your home's curb appeal</a>. But is it worth the time and effort? Whether you're a seasoned real estate agent or a homeowner looking to maximize your property's appeal, understanding the home staging and learning how to avoid common mistakes can make all the difference in achieving a swift and lucrative sale.<br /><br />Key Takeaways
Home staging enhances the appeal of a house, making it more likely to attract potential buyers and achieve a successful sale.
By showcasing a home's best features and minimizing flaws, staging sets it apart from the competition and maximizes its value.
While there are pros and cons to staging yourself or hiring a professional, understanding the benefits and costs of professional staging is crucial for a successful sale.
Avoiding common mistakes in staging, such as neglecting decluttering and depersonalizing, is crucial for attracting potential buyers and helping them envision themselves living in the home.
Why Stage a House?
If you're looking for a fast sale on your home, the best thing you can do is get it staged. Sometimes you have a lot of time to sell your home, while in other cases you need to get out of the house immediately or sell it within weeks. When a fast sale is critical, take a look at staging and what it can do for you.
Staging your home enhances its appeal and increases the likelihood of a successful sale. By creating an inviting and visually appealing space, staging allows buyers to see the full potential of the property. It helps them connect emotionally with the home, which is crucial in making a purchasing decision.
Another reason to stage your home is to make it stand out from the competition. In a <a href="https://www.calgary.com/blog/what-to-expect-when-selling-a-home-in-a-buyers-market/">buyer’s market</a>, having a well-staged home can set it apart from similar properties in the area. Staging highlights the best features of your home and minimizes any flaws or shortcomings. It helps create a positive first impression and a lasting impact on potential buyers.
Additionally, staging can help maximize the value of your home. When a property is properly staged, it can command a higher sale price. Buyers are often willing to pay more for a home that is move-in ready and aesthetically pleasing. Staging allows you to showcase your home's unique qualities and increase its perceived value in the eyes of potential buyers.
Home staging has been proven time and time again to sell a house faster and quite often can bring in better offers as well. Staging makes a house look cleaner, brighter and even bigger so that people looking at it can actually imagine it being their future home.
What's the Home Staging Process?
Basically, when your home is staged, the personality that you have put into it will be taken out so that prospective buyers can see your home from a different viewpoint. When the house is depersonalized, viewers can more easily imagine living in it as they walk through the home. This is why it leads to a faster sale and bigger and better offers in many cases.
Whether you do it yourself or hire a professional, home staging makes sure that the house is de-cluttered and that only the bare amount of home furniture is in each room. Accessories may be added to the rooms to highlight their best features and bring out the best in them.
Should You Hire a Professional Home Stager?
When getting ready to stage, homeowners must weigh the benefits of doing it themselves versus the advantages of hiring a professional stager. Staging a home yourself can be a cost-effective option, as it eliminates the need to pay for professional services. Additionally, staging oneself allows for greater control over the process, allowing homeowners to make changes and adjustments as they see fit.
However, there are also several advantages to hiring a professional. Professional stagers have extensive experience and knowledge in staging homes, ensuring that the property is presented in the best possible light and from an unbiased perspective. You have an emotional attachment to your home, and this gives you a biased viewpoint in terms of making it attractive to potential home buyers.
Plus, professionals possess a keen eye for design and are skilled at highlighting a home's best features. They have access to a wide range of furniture and decor options, allowing them to create a cohesive and visually appealing space. Furthermore, hiring a professional can save sellers time and reduce stress, as they take care of all the details and logistics involved in staging a home.
Ultimately, the decision to hire a professional depends on the homeowner's budget, time constraints, and level of expertise in home staging.
Home Staging Tips If You’re Going Solo
If you don't have a lot of time on your hands or don’t have the funds to hire a professional right now, here are some basic guidelines that you can use to make your home look better to potential buyers:
All of the living spaces should be well-lit and appear spacious.
Clear off all of the countertops in your kitchen and organize your pantry—make sure it’s not too stuffed.
The floors in the entranceway should be clean and polished so that they shine when viewers first walk in.
Set your table in the dining room with a centrepiece and your best china.
De-clutter and <a href="https://www.calgary.com/blog/home-cleaning-checklist-before-moving/">clean the whole house</a> and pay special attention to the closets.
Open all of the window coverings and let the light shine in.
Green plants support the appearance of a green home, and flowers can make it look and smell great.
Ensure your house is odour-free because bad smells might drive away potential buyers.
Fix any minor issues that are easy and inexpensive to fix (repaint walls, oil squeaky door, etc.).
Make sure everything from faucets to heating works.
In general, you'll want to have your home open, airy, and looking spacious at every turn. There should be no clutter anywhere. If you have too much stuff in your home and don't want to get rid of it with a yard sale, pack the extra items into boxes and stack and store them inside your garage. If you don't have a garage, you may want to ask a friend or relative if you can borrow some space in theirs temporarily until your home sells.
How to Choose a Home Stager
When you're looking through the home stagers make sure to <a target="_blank" href="https://www.realtor.com/advice/sell/home-stager-questions/">ask plenty of questions</a> and check their references—don't rely on price alone. There can be quite a price difference from one to the next, and you don't necessarily have to pay the exorbitant prices that one may be asking. Make sure you check out the references provided and search for anyone offering their services at middle-of-the-road prices.
You should also find out whether the professional stager has worked with any other homes in your area. One neighbourhood will attract different types of buyers than another. You'll want to find someone that has a good idea of what potential buyers in your area are specifically looking for.
In many cases, professionally staging your home can raise the selling price by thousands of dollars. Keep this in mind when you are deciding whether you want to go the professional route or whether you want to tackle it on your own. If you're looking for a faster sale and a higher selling price, it may be worth your while to invest some money now into a professional.
How Much Does Staging Cost?
To understand the financial aspect of staging, it is important to consider the cost involved in creating an appealing and market-ready space. Home staging costs can vary depending on several factors, such as the size of the property, the extent of the staging required, and the location. However, it is generally agreed upon that the investment made in staging is worth it, as it can significantly increase the chances of a successful sale and potentially result in a higher selling price.
Here is a breakdown of the average costs associated with home staging:
Staging ItemAverage Cost
Consultation
$250–$500
Furniture Rental
$500–$2,500 (per month)
Accessories Rental
$200–$1,000 (per month)
Staging Services
$1,000–$5,000 (per project)
Keep in mind that these figures are just estimates and actual costs may vary. It is recommended to consult with staging companies to get a more accurate quote based on your specific needs and requirements.
While staging does come with a cost, it is important to view it as an investment rather than an expense. By creating a visually appealing and inviting space, you are more likely to attract potential buyers and ultimately sell your house faster and for a higher price.
Mistakes to Avoid When Staging a Home
One common mistake in home staging is neglecting to declutter and organize the space properly. When potential buyers walk in for a private showing or <a href="https://www.calgary.com/blog/showing-tips-for-your-next-open-house/">open house</a>, they want to see an organized and clean home that they can envision themselves living in. Clutter can make a room feel smaller and more chaotic, which can be a major turn-off for potential buyers. To avoid this mistake, sellers should take the time to declutter each room, getting rid of any unnecessary items and organizing belongings in a neat and orderly manner.
Another mistake to avoid is failing to depersonalize the space. Buyers want to be able to imagine themselves living in the home, and personal items such as family photos or unique decor can make it difficult for them to do so. Homeowners should remove personal items and replace them with more neutral decor that will appeal to a wider range of buyers.
Lastly, it can be easy to forget to address any necessary home improvements or maintenance issues. Buyers want to purchase a home that is in good condition, and any visible signs of neglect or disrepair can be a major red flag. Sellers should take the time to fix any broken fixtures, repair damaged walls, and address any other maintenance issues before putting their home on the market.
Find Buyers By Staging Your Home to Sell
Whether you choose to stage your home yourself or hire a professional, the benefits of home staging cannot be overlooked. It has the potential to significantly increase the chances of a successful sale by attracting more buyers and allowing them to envision themselves living in the space. While staging may come with a cost, it is a worthwhile investment that can ultimately lead to a quicker and more profitable sale. Avoiding common staging mistakes and making a home look its best is essential to ensure a successful outcome.2024-01-22T15:18:00-07:002024-01-24T08:54:11-07:00Justin Havretag:calgary.com,2012-09-20:18689Selling a Vacation Home? 7 Tips About Capital Gains Taxes & Getting Ready to Sell<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="/uploads/agent-1/sell-vacation-home.jpg" alt="Tips for Selling Your Vacation Home" width="475" />Selling a vacation home in Canada is more than just a transaction; it's a strategic decision that requires careful consideration, especially when it comes to tax implications. Understanding the nuances of the market and the legal landscape is crucial for homeowners looking to navigate this process effectively. Keep reading to learn about the essential strategies and tax considerations to increase the odds of a smooth sale of your vacation property.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />Primary Residence vs. Vacation Property Taxes
Navigating taxes during a<a href="https://www.calgary.com/blog/tips-for-first-time-home-sellers-to-sell-their-first-home/"> first-time home sale</a> can feel like a bit of a minefield, to say nothing of selling a second/vacation home. But thankfully, homeowners do have some options when it comes to asking how to sell a home and navigating their vacation home taxes. This includes understanding GST implications, capital gains tax, and other provincial tax requirements.
Homeowners should consult with legal and tax professionals to ensure compliance and explore strategies for tax minimization. This could involve considerations such as changing the use of the property or timing the sale to align with favourable tax conditions.
Capital Gains
A capital gain is the difference between what an asset was purchased for and what it was sold for. For instance, if a vacation home bought for $400,000 is sold for $850,000, the $450,000 gain is subject to capital gains tax. In the case of a normal home sale, capital gains are usually deducted. However, with a second home, half the appreciation is added on to the homeowner's yearly income and then taxed according to the resulting bracket.
Homeowners can reduce their tax burden through various deductions, such as capital losses, major renovations, and closing costs. Understanding these nuances is vital for homeowners to make informed decisions and minimize their tax liabilities.
There are a few ways to lighten the burden of capital gains:
Closing costs: Sellers are allowed to deduct the closing costs from their appreciation. From real estate agent fees to inspector charges to attorney costs, these fees can be lumped together.
Advertising costs: Any fees the seller spends to market the home (e.g., professional photos, videos, etc.) can also be deducted from the sale price of the home.
Home renovations: Major home renovations can be added to the purchase price of the home, thus lessening the total appreciation. However, not all home repairs count toward this benefit. Sellers may need to check with city officials to find out if their work qualifies.
Sellers are also allowed to donate their capital gains for a substantial tax credit, but it usually takes a financial planner to advise a homeowner if this option is worth it. Sellers who need an extension to pay their capital gains can file through the Canadian Revenue Agency. This is highly recommended if the <a target="_blank" href="https://rocketmortgage.ca/learning-centre/mortgage-basics/escrow-accounts-and-your-mortgage/">escrow period</a> runs longer than expected.
Depreciation
It can be tempting to claim high values of depreciation for those who claim rental income. The more depreciation, the less rental income a person has to declare. However, there's a risk in this strategy if the property value has steadily climbed. Those who claim a high level of depreciation will start with that number when calculating their capital gains on a vacation home or primary residence. So if the property was originally purchased at $500,000, depreciated by $100,000 and then sold at $1 million, the capital gains will be taxed at $600,000 instead of $500,000.
Deductions
If the vacation home has gone up in value, a homeowner would be smart to concentrate on their deductions rather than their depreciation. What can be deducted can be tricky, so it helps to talk to a real estate agent. For example, major home renovations can be deducted, but “major” is a vague enough term that sellers should consult with someone who understands the specifics. They can also usually deduct the closing costs from the original purchase of the property in addition to the real estate-related costs of the home sale.
Property Use Changes
The way a property has been used over time can significantly affect its tax implications. For example, a property initially purchased as a vacation home but later used as a principal residence might have different tax liabilities compared to a property that has always been a vacation home. It's important for sellers to accurately track and document the use of their property over time to ensure correct tax reporting and to take advantage of any potential tax benefits.
Investors will sometimes make their vacation home their primary residence if their vacation home has risen in value while their primary residence has declined. In this case, homeowners can sell the primary and deduct their capital losses from their capital gains to avoid taxes as long as they follow the correct reporting procedures.
Tips for Selling a Vacation Home
Just like when you’re selling your primary residence, there are several ways to give your vacation home a better chance of selling. From staging the home to choosing the right time to sell and working with an expert, these strategies are a great place to start.
Preparing Your Vacation Home for Sale
Effective preparation of your vacation home can significantly enhance its market appeal. This involves conducting minor repairs, ensuring the property is clean, and considering staging to showcase its potential. Some other ideas include:
<a href="https://www.calgary.com/blog/painting-your-home-what-colors-should-you-paint/">Refreshing the paint</a>
Repairing any damages
Decluttering living spaces
Updating furniture and fixtures
Work With a Real Estate Agent
Selecting the right real estate agent is crucial in the sale of a vacation home. An agent with specific experience in vacation properties can provide valuable insights into market trends and buyer preferences. Look for agents with a proven track record in the vacation home market, strong local market knowledge, and a comprehensive marketing strategy.
Find the Best Time to Sell
The <a href="https://www.calgary.com/blog/how-to-really-know-when-to-sell-your-home/">timing of your sale</a> can greatly impact the success of the transaction; seasonal trends play a crucial role.All home selling is cyclical—there are certain months when people want to buy and others that are not as popular. However, second homes can follow this rule more so than standard home sales.
For instance, ski chalets are best sold in winter, when their appeal is at its peak, while lakeside properties are more attractive during the spring and summer months. Understanding these seasonal dynamics is key to attracting the right buyers and securing the best possible price for your vacation home.
And even if there's more competition during the popular months, sellers can still use the sheer number of buyers to their advantage. If they stage the home correctly, they may even inspire a bidding war that pushes the home sale price in the right direction.
Is it Time to Sell Your Vacation Home?
Selling a second home in Canada requires a strategic approach, particularly with respect to understanding and managing tax implications. Armed with that knowledge and after preparing their home for potential buyers, homeowners can navigate the complexities of the market. Knowing the difference between selling a second home and a primary residence is essential for a successful and profitable sale of a vacation home.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2024-01-18T07:00:00-07:002024-01-18T08:19:46-07:00Justin Havretag:calgary.com,2012-09-20:21635Calgary AB vs. Winnipeg MB: Which City is Right For You?<img style="margin: 0 auto 20px auto; display: block;" src="/userFiles/4845/image/calgary-vs-winnipeg.jpg" alt="Comparing Calgary and Winnipeg" />
Choosing between living in Calgary, Alberta, and Winnipeg, Manitoba, is a decision that involves considering various lifestyle and environmental factors. The <a href="https://www.calgary.com/real-estate/" title="Calgary Homes for Sale">city of Calgary</a>, known for its proximity to the Rocky Mountains, offers a unique blend of outdoor activities and urban amenities. In contrast, with its vibrant arts scene, Winnipeg provides a different kind of urban living experience. These cities' climates, job opportunities, cost of living, and recreational options differ markedly, affecting daily life and long-term satisfaction. Explore the nuances of living in Calgary versus Winnipeg, and find out which city aligns best with your lifestyle and preferences.
Is it Cheaper to Live in Calgary or Winnipeg?
Budget-minded homebuyers have a clear choice between these two cities. Those looking for the cheapest option of the two should opt for Winnipeg. While Calgary is the least expensive of Canada's biggest cities, it's still among the world's top 150 priciest metro areas. Still, choosing between the two on financial grounds is a bit more complex than it might appear.
Cost of Living
The overall <a href="https://www.calgary.com/blog/calgary-cost-of-living/">cost of living in Calgary</a> is higher than in Winnipeg, with most estimates putting the gap in the 15%–30% range, depending on lifestyle and other factors. The most significant difference for residents is the cost of housing. In Winnipeg, the median price of apartments and other units in multi-household dwellings is in the low $200s, with townhomes around $300,000 and single-household homes in the high $300s. But in Calgary, the corresponding costs rise to the high $200s, around $400,000, and the mid-$600s. Renters see a similar disparity, with median rent around $2,000 monthly in Calgary and $1,500 per month in Winnipeg.
The highest-end real estate in each city is similarly varied. <a href="https://www.calgary.com/luxury-homes/">Luxury homes in Calgary</a> typically list from around $1 million to nearly $10 million, while Winnipeg's highest-end real estate ranges from the $800s to around $3 million.
Utilities are also slightly more expensive in Calgary, though there's less of a noticeable difference. The same is true for food, entertainment, and transportation, even accounting for Calgary's typically cheaper gas prices. Healthcare costs vary widely depending on use and personal circumstances but are generally similar between the two cities. However, Manitoba provincial plans are typically more generous regarding benefits.
Typical Salaries & Income
Calgary residents will find that the city's higher prices are at least partially offset by its significantly higher salaries and wages than Winnipeg. Median household income in Calgary sits around $98,000, a number that's been steadily rising over the past few years. Meanwhile, Winnipeg's median household income comes in at around $80,000, a substantial decrease. Average individual salaries also show a similar gap: Calgary's is roughly $65,000, above the Canadian average, while Winnipeg's $50,000 is below the national average.
Both cities have a comparable minimum wage, set at $15 per hour in Calgary and $15.30 hourly in Winnipeg. Calgary residents are also subject to Alberta's lower provincial income taxes, saving them money in their take-home pay compared to Manitoba rates, which are higher for all income levels.
How's the Weather in Calgary vs. Winnipeg?
<img src="/userFiles/4845/image/calgary-weather.jpg" style="width: 100%; margin-bottom: 20px;" alt="Weather in Calgary vs Winnipeg" />
While winters are cold in both cities, Winnipeg is Canada's chilliest city, with average daytime highs of -9° during the season. However, it's also relatively dry and clear during the winter months. Much like <a href="https://www.calgary.com/blog/how-to-research-a-neighbourhood/">researching neighbourhoods before buying a home</a> is vital, knowing you can thrive in a given climate is supremely important before moving to that climate.
Despite its more northern location, Calgary typically has milder winters than Winnipeg. This is due to a unique weather pattern that results from the nearby Rocky Mountains, known as Chinook winds. These warmer, drier air currents can help moderate Calgary's temperatures and quickly eliminate residual snow. Winnipeg also sees slightly higher average high temperatures and higher humidity levels during the summer compared to Calgary, a result of its location on the Prairies.
Both receive most of their precipitation in the summer, typically between May and September. Overall, Calgary typically has more moderate and stable weather in all seasons, while Winnipeg offers a great opportunity for those who enjoy warmer summers and don't mind chillier winters.
Which is Bigger, Calgary or Winnipeg?
From a size perspective, the answer is clear. Calgary is larger than Winnipeg in both population and geographic space. Calgary spans approximately 820 square kilometres, while Winnipeg is just over half that size, at around 464 square kilometres.
More people also call Calgary home: about 1.4 million live in Cowtown compared to Winnipeg's roughly 750,000. The result is that each city has almost the same population density, though Calgary residents may often find themselves travelling further to destinations within the city. Both have been growing in population in recent years, a trend that's expected to continue.
Finding a Job in Calgary vs. Winnipeg
Both cities offer excellent opportunities for those looking for work, and each has its own economic strengths. Calgary is best known as the centre of Alberta's thriving energy industry but also supports significant jobs in financial services and life science. These industries are most prevalent in <a href="https://www.calgary.com/city-centre-communities/" title="Calgary City Centre Homes for Sale">Calgary's City Centre</a>. In contrast, Winnipeg stands out for its large manufacturing sector and several significant transportation and logistics companies. Those seeking positions in aerospace, agribusiness, the creative arts, and technology will have excellent opportunities in both cities, ranging from managerial work to skilled and unskilled labour.
Calgary's unemployment rate is close to the nationwide average, and Winnipeg's rate is typically a percentage point or two lower. However, Calgary's substantially larger size and population mean more jobs are available overall, as well as a more diverse set. Crucially, both cities have seen steadily growing economies in recent years, a trend poised to continue into the near future.
Getting Around in Calgary vs. Winnipeg
<img src="/userFiles/4845/image/calgary-driving.jpg" style="width: 100%; margin-bottom: 20px;" alt="Driving in Calgary vs Winnipeg" />
No matter how they get around, those living in Calgary tend to have a bit of an easier time doing it than residents of Winnipeg. However, it's important to note—particularly for those travelling around the city a lot or those <a href="https://www.calgary.com/blog/relocating-to-calgary-with-children/">moving to Calgary with kids</a>—that Calgary's larger size means trips within the city can be significantly longer in time and distance. There are also some other important distinctions between the two.
Public Transportation
As with many more populated cities, Calgary has a more extensive and more diverse public transit network than Winnipeg. Calgarians can take both bus service and the light rail C-Train, both operated by Calgary Transit. The heavily used system includes two rail lines and nearly 300 bus lines throughout the city, with an emphasis on <a href="https://www.calgary.com/downtown-real-estate/">Downtown Calgary</a> and other city centre neighbourhoods. Single rides cost $3.60, while weekly and monthly passes provide more affordable rates for frequent riders.
Winnipeg residents only have access to about 85 bus routes offered by Winnipeg Transit. Fares are $3.25 in cash or $2.90 when paid electronically. As in Calgary, transit passes ranging from 24 hours to a month provide good deals for everyday transit users. Winnipeg is also connected to the national <a target="_blank" href="https://www.viarail.ca/en">VIA Rail Network</a>, which offers direct service along scenic routes to Toronto, Edmonton, Vancouver, and many spots in between.
Bikers will find an extensive network of paths and trails in Calgary, while Winnipeg's system is still expanding its offerings. Both cities also offer access to ride-hailing services like Uber, as well as taxis.
Driving & Traffic
It may surprise would-be residents that, despite Winnipeg's smaller geographic size and population, traffic is usually worse than in Calgary. Winnipeg has been ranked as Canada's third-worst traffic city, with only the huge population centres of Vancouver and Toronto having worse traffic. Drivers there spend just over 19 minutes on average to drive 10 kilometres, compared to a bit under 13 minutes in Calgary. Typical Winnipeg motorists spend 63 hours more in traffic per year than their Calgary counterparts.
Both cities experience standard traffic patterns and peaks, with the most congestion on weekday mornings between 7:00 and 9:00 a.m. and weekday afternoons between 4:00 and 6:00 p.m. While exact prices will vary by driver and coverage, Calgary drivers generally are charged higher auto insurance rates than those in Winnipeg.
Does Calgary or Winnipeg Have Better Things to Do?
No matter what would-be residents enjoy doing in their free time, they'll likely find opportunities to do it in both of these top Canadian cities. However, each has certain areas where it stands out from the other.
Outdoor Activities
Lovers of the Great Outdoors will have plenty to keep them busy and entertained in Calgary and Winnipeg. Calgary is just over 80 kilometres east of the Rocky Mountains, making it convenient to enjoy some of the world's best skiing, hiking, mountain biking, camping, and more. Extensive green spaces and parks are spread throughout <a href="https://www.calgary.com/blog/best-neighbourhoods-calgary-ab/">Calgary's best neighbourhoods</a>, including the riverfront Prince's Island Park or the expansive Nose Hill Park, one of Canada's largest urban parks.
Winnipeg residents also have incredible nature nearby, like the boating, fishing, and camping opportunities around Lake Manitoba, less than 100 kilometres northwest. Closer to home, the city's Assiniboine Park offers a zoo, entertainment venues, and many other attractions. Nature lovers can find an even wilder experience at Fort Whyte Alive, an urban green space with lakes, green space, and a nature centre.
Arts & Culture
Calgary may be best known for its annual rodeo and western-themed festival, the <a href="https://www.calgary.com/blog/the-famous-calgary-stampede/">Calgary Stampede</a>, which draws tens of thousands to the city every summer. It's just one of many music festivals and other themed gatherings that Calgary hosts, typically during the warmer months. The city is also home to cultural and educational spots like the popular Calgary Zoo and the art and history exhibits at the Glenbow Museum.
However, many find Winnipeg to have a broader and more developed art scene. Residents enjoy access to spots like the Winnipeg Art Gallery, which houses a notable collection of European and Inuit art, while the Canadian Museum for Human Rights and Manitoba Museum are also among the city's top attractions.
Sports fans will be at home in either city. Both have NHL franchises (the Calgary Flames and Winnipeg Jets), CFL teams (Calgary Stampeders and Winnipeg Blue Bombers), and Canadian premier league soccer teams (Cavalry FC and Valour FC), among other teams and leagues.
Food & Nightlife
Foodies will likely be quite happy with either of these choices from a culinary perspective, though each enjoys its own distinct culinary scene. Calgary has a diverse mix of international and traditional Canadian cuisine and plenty of high-quality beef, thanks to Alberta's cattle ranching heritage. Winnipeg also has a strong global influence, as well as a significant impact from Indigenous/Native Canadian/Inuit cooking.
On the nightlife front, Calgary outparties its smaller rival. With a larger population and more entertainment areas, it's an excellent choice for would-be residents who enjoy going out on the town, especially in areas like the exciting <a target="_blank" href="https://17thave.ca/">17th Avenue SW corridor</a> or the Kensington district. Still, Winnipeg has plenty of nightlife options centred around The Forks—a thriving downtown district of shops, restaurants, bars, and other unique attractions. The Forks is also flanked by other unique and fun neighbourhoods like Osborne Village and The Exchange District.
The Distinct Allures of Calgary & Winnipeg
Deciding between Calgary and Winnipeg for your home hinges on personal preferences and lifestyle priorities. Calgary's allure lies in its dynamic urban life and proximity to natural wonders, appealing to those seeking adventure and a fast-paced environment. With its historical depth, Winnipeg offers a warm, community-focused living experience. Each city boasts unique advantages, from Calgary's economic opportunities and outdoor activities to Winnipeg's arts and cultural richness. Ultimately, whether it's Calgary's mountains or Winnipeg's heritage that calls to you, both cities offer enriching experiences for their residents.
2024-01-17T10:51:31-07:002024-01-17T12:01:35-07:00Justin Havretag:calgary.com,2012-09-20:21634Essential Insights into Seller's Disclosures: What Every Home Seller Needs to Know<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/sellers-disclosures.jpg" alt="What to Know About Sellers Disclosures When Selling a Home" width="475" />Navigating the nuances of a seller's disclosure can be daunting, but it’s integral to any real estate transaction. This critical document impacts negotiations, legality, and transparency, affecting both the buyer’s decisions and the seller’s responsibilities. What exactly is a <a href="https://www.reca.ca/consumers/selling-a-home/your-obligations/" target="_blank">seller's disclosure</a>, and why is it so important? Our article breaks down the complexities, ensuring you understand the intricacies of property disclosures without getting lost in the legal jargon.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />Key Takeaways
The seller's property disclosure statement is crucial for both the buyer and seller, revealing known defects and legally protecting both parties by ensuring transparency and informed decisions in real estate transactions.
There are both patent and latent defects in properties, with the legal obligation for sellers to disclose latent defects they are aware of. Failure to do so can lead to serious legal consequences, including litigation.
Compliance with federal, state, and local disclosure laws is essential, as they guide the sellers in what must be disclosed. Non-disclosure can nullify the real estate transaction and potential legal action against the seller.
Deciphering Seller's Disclosure Statements
The seller's property disclosure statement, also known as the real estate disclosure form, is a fundamental element of real estate transactions. This is a document where sellers, usually with the guidance of their real estate agent, reveal any known defects in their home; the lack of this kind of vital real estate guidance is one of the <a href="https://www.calgary.com/blog/the-pitfalls-of-fsbo/">pitfalls of For Sale By Owner home selling</a>. It's not just a legal requirement but also a moral obligation, a covenant of transparency that protects both the buyer and the seller in the context of a seller's disclosure statement.
For the potential buyer, the property disclosure statement, also known as the seller property information statement, behaves as a roadmap, steering them through the property's history and current condition. It provides protection by supplying information about any defects or problems with the property that the seller is aware of. This information empowers the prospective buyer, allowing them to make an informed decision about their potential future home, using property disclosure statements as a valuable resource.
Yet, the seller's disclosure statement isn't just for the buyer's benefit. It also safeguards the seller from potential litigation by the buyers post-sale and any subsequent legal proceedings. By disclosing the known flaws and issues of the property, the seller protects themselves while also ensuring a fair and transparent transaction.
The Role of the Seller's Disclosure in Real Estate Deals
The seller's disclosure statement has a central role in real estate transactions. Its primary function is to furnish previously undisclosed details about the property's condition and any known defects that may impact the property value or the buyer's decision. This document, frequently prepared with the assistance of real estate agents, acts as a prism, enabling the prospective purchaser to view the property from a unique perspective.
This disclosure document doesn't merely list the property's flaws; it promotes transparency in real estate transactions. Supplying vital details about the property's condition and history lessens the traditional "buyer beware" principle and enables buyers to make educated decisions. It's a testament to the integrity of the seller and the real estate agents involved, ensuring that the buyer doesn't feel deceived or misled.
The seller's disclosure statement also has a significant role in negotiating and concluding a real estate deal. Informing the buyer about the condition and potential negatives impacting the property's value sets the stage for a fair negotiation, allowing the buyer to make an offer in line with the property's actual condition.
Mandatory vs. Optional Disclosures
While the importance of the property disclosure statement is universal, the specific requirements of what must be disclosed can vary. The distinction between mandatory and optional disclosures hinges on the specific laws of the jurisdiction where the property is located.
Almost every province has laws mandating sellers to provide buyers with comprehensive information about the structural and other characteristics of the property via a seller's property disclosure. These required disclosures usually include known defects and problems with the property, allowing the prospective buyer to make a well-informed decision.
On the other hand, there are instances of voluntary disclosures in real estate transactions. These can encompass additional information that the seller chooses to disclose beyond what is required by law. Such voluntary disclosures can benefit both parties, providing the seller with a safeguard against future disputes and offering the buyer additional peace of mind.
Unveiling Hidden Issues: Latent and Patent Defects
Much like every coin has two sides, property defects also have dual facets. They can be categorized into patent defects, visible flaws readily apparent, such as a crack in the home or broken windows, and latent defects, those not visible and necessitating thorough investigation. These hidden issues can have significant implications for the buyer and seller alike.
Sellers are obligated to disclose any <a href="https://www.reca.ca/consumers/property-considerations/material-latent-defects/" target="_blank">latent defects</a> they are aware of, particularly if these defects pose a risk to the safety or habitability of the property. This might include issues like concealed water damage or buried leaky oil tanks, which may necessitate a more comprehensive inquiry to reveal. On the other hand, while sellers are not required to notify buyers about patent defects actively, they are prohibited from intentionally concealing them.
Grasping the difference between latent and patent defects is essential for both buyers and sellers. It informs what the seller must disclose and guides the buyer in their due diligence, ensuring a fair and transparent transaction.
Navigating Legal Requirements for Property Disclosures
Regarding property disclosures, there are more considerations than merely the seller's moral obligation. There is a host of legal requirements at the federal, provincial, and local levels that govern the disclosure process. These laws serve as a framework, setting the standards for what needs to be disclosed and how.
At the federal level, sellers are obligated to ensure compliance with the law that mandates the disclosure of the presence of lead-based paint for houses constructed prior to 1978. Meanwhile, property disclosure requirements exhibit significant variation across provinces and localities. These requirements can range from defects discovered while residing on the property to items that a buyer may be unable to identify independently.
These laws are not mere guidelines; they bear substantial legal significance. Failure to adhere to property disclosure laws can result in repercussions, including fines, imprisonment, and potential criminal charges. As such, it's crucial for sellers to maintain awareness of and compliance with these regulations, meticulously documenting the property's condition and disclosing all relevant information in good faith.
Understanding Federal Disclosure Obligations
Although provincial and local laws can differ greatly, certain federal laws are applicable across Canada. One such law is the mandate for lead paint disclosure for houses built before 1978. The need to disclose the presence of lead-based paint is a critical federal requirement, given the potential health hazards associated with this substance.
Under this federal law, sellers and landlords are required to:
Disclose all known information regarding potential lead-based paint hazards and provide available records
Furnish purchasers and lessees with a lead hazard information pamphlet
Incorporate specific language in the lease or contract
This federal requirement underscores the importance of transparency in real estate transactions, safeguarding the health and safety of future occupants.
Moreover, the federal government mandates the disclosure of certain environmental hazards. These include known hazards or risks linked to the property, such as:
Mould
Radon
<a href="https://www.calgary.com/blog/home-flood-safety-guide/">Flood zones</a>
Other potential hazards
These federal laws underscore the importance of placing the health and safety of buyers at the forefront.
Compliance with Provincial and Local Disclosure Laws
While federal laws set a national standard, property disclosure requirements can vary significantly at the provincial and local levels. Almost every province has enacted legislation requiring sellers to provide buyers with detailed information about the conditions and characteristics of the property. These provincial laws set the minimum requirements for what must be disclosed, often encompassing known defects and issues with the property. Some common items that may need to be disclosed include:
Structural issues
Water damage or leaks
Pest infestations
Environmental hazards
Previous repairs or <a href="https://www.calgary.com/blog/bad-home-improvements/">home renovations</a>
Neighborhood nuisances or disturbances
It is important for sellers to familiarize themselves with the specific disclosure requirements in their province to ensure compliance and avoid legal issues.
Local disclosure laws for real estate transactions can exhibit even more variations. In some jurisdictions, sellers are obligated to disclose neighbourhood issues or any other nuisances on the property disclosure form. Other localities may impose additional requirements, such as disclosing information about an open bidding process or the number of offers received.
Beyond these mandatory requirements, many provincial and local regulations also mandate the disclosure of a range of hazards, such as:
Radon
Asbestos
Lead-based paint
<a href="https://www.calgary.com/blog/how-to-prevent-and-handle-mold-issues-in-your-home/">Mould</a>
Other potential risks
Given these varying requirements, it's crucial for sellers to be aware of the specific laws applicable to their property's location to ensure full compliance.
The Impact of Non-Disclosure on Real Estate Transactions
<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/sellers-disclosure-impact.jpg" alt="How Seller's Disclosures Affect Sales" />
While disclosure in real estate transactions is morally required, it is also legally essential. Non-disclosure can have substantial implications for both the buyer and the seller. From a buyer's perspective, non-disclosure can impede their ability to make an informed decision about the property. If the seller deceitfully omits crucial information, the buyer may have the right to initiate legal action to seek compensation.
The legal ramifications of non-disclosure can be severe. A real estate transaction can be nullified due to non-disclosure, albeit through an intricate legal procedure that may entail litigation. Instances of legal disputes related to non-disclosure encompass situations where sellers inaccurately completed disclosure forms or neglected to reveal hidden defects and other significant details about the property.
Non-disclosure also has potential financial implications. It can impede buyers from obtaining comprehensive information about the property's condition, which may harm its value. In jurisdictions where sale prices are not publicly revealed, non-disclosure can also obstruct buyers' capacity to make well-informed judgments about the fair market value of a property.
The Relevance of Home Inspections in Light of Seller Disclosures
While the seller's disclosure statement guides buyers through the property's history, an inspection, whether it's a <a href="https://www.calgary.com/blog/pre-listing-home-inspection/">pre-listing home inspection</a> or one arranged by a buyer after accepting their offer, provides an independent, third-party evaluation of the property's state. Home inspections are essential for validating the seller's disclosure statements as they provide a thorough evaluation to identify any substantial defects within the property that may have been undisclosed or unknown to the seller.
A <a href="https://www.calgary.com/blog/the-benefits-of-home-inspections/">home inspection</a> can uncover additional details about the home's condition that may not have been disclosed in the seller's statement. This can potentially impact the buyer's perception of the property's location and their decision to proceed with the transaction. These inspections, typically costing between $300 to $500, comprehensively assess elements such as:
The home's structure
Foundation
Plumbing
Electrical systems
Often, home inspections reveal findings that are not typically disclosed by the seller. These may encompass:
Environmental hazards
Structural issues
Roof leaks
Concealed water damage
Hidden pest infestations
Home inspections, therefore, serve as a safety net, ensuring that potential buyers are fully informed about the property they are considering.
Ethical Considerations for Sellers in Disclosure
While legal requirements dictate what must be disclosed, ethical considerations influence how these disclosures are made. For sellers, ethical obligations in real estate disclosure encompass the duty to disclose all known material facts about the property to clients and customers, maintaining confidentiality while ensuring relevant information is disclosed to clients.
Transparent revelation by the seller provides the buyer with insights into the property's state, including material facts and latent defects. This transparency plays a vital role in fostering trust between the buyer and seller and reducing the potential for post-transaction disputes.
However, ethics in disclosure is not only about sustaining good relations between the buyer and the seller. It's also about upholding professional standards. Sellers who fail to uphold ethical standards in property disclosure could potentially be subject to lawsuits, fines, and misrepresentation claims.
Furthermore, if the seller is a real estate agent, there could be significant professional consequences, including revoking their license. A real estate attorney can help navigate these potential issues.
Remember Your Disclosure Statement When Selling Your Home
Having journeyed through the intricate world of seller's disclosures, we can now appreciate these documents' critical role in real estate transactions. They serve as a beacon of transparency, guiding the buyer through the property's past and present and shielding the seller against future disputes. From understanding the difference between latent and patent defects to navigating the labyrinth of federal, provincial, and local disclosure laws, seller's disclosures offer a roadmap to a successful real estate transaction.
In an industry characterized by complexity and confusion, the seller's disclosure statement is a testament to transparency and honesty. It underscores the importance of ethical conduct in real estate transactions, fostering trust between buyers and sellers and ensuring the integrity of the real estate industry. So, whether you're a buyer navigating the property market or a seller seeking to ensure a smooth transaction, remember this: in disclosure lies the key to a successful real estate transaction.
Frequently Asked Questions
What happens if the seller lies on disclosure?
If the seller lies on disclosure, you can negotiate for repairs or price adjustments or even withdraw from the deal if the inaccuracies make the transaction unfeasible. Legal action might be an option if the seller is dishonest in their listing.
What does the disclosure document do?
The disclosure document, also known as the Property Disclosure Statement, is completed by the seller before listing their property on the MLS and allows them to disclose details about the home to potential buyers. It was developed by the BC Real Estate Association.
What do you have to disclose when selling a house in Alberta?
When selling a house in Alberta, you are required to disclose all material latent defects that you know about, and your real estate professional must also disclose any material latent defects they are aware of. This is to ensure transparency and protect the buyer.
What does it mean when a property is disclosed?
When a property is disclosed, it means that the seller has provided a statement informing the buyer of any known defects or issues with the property. This helps protect the buyer's interests and ensures they are aware of the property's condition before making a purchase.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2024-01-16T09:57:00-07:002024-01-17T10:51:44-07:00Justin Havretag:calgary.com,2012-09-20:187829 Worst ROI Home Improvements: Avoid These Renovations That Decrease Home Value<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="/uploads/agent-1/bad-home-improvements-for-your-home.jpg" alt="Home Improvements to Avoid" width="475" />Home improvements are supposed to drive up the value of your home, but not all are good for your home. Some renovations can actually make your home less desirable to buyers, which can make selling your home more difficult—even if you choose <a href="https://www.calgary.com/blog/how-to-really-know-when-to-sell-your-home/">the perfect time to sell your home</a>. From poorly chosen wall colours to ill-advised room alterations, there are a number of bad home renovations that should be avoided if you hope to sell your property quickly and at a desirable price. If you're a homeowner and you're thinking about making a home improvement sometime in the next few months, be careful when making the following upgrades.<br /><br />Unappealing Walls
When it comes to walls, there are a few home improvements that can turn off buyers. These range from creating a dated or unappealing look to being so personalized that buyers can't imagine themselves living in it.
Bold Paint Colours
Brightly painted walls can be a major turn-off for potential home buyers. While bold and vibrant colours may reflect the homeowner's personality and taste, they can also limit the property's appeal. Buyers often prefer neutral tones that allow them to envision their own style and furniture in the space.
Repainting all the walls can be time-consuming and costly, deterring buyers from making an offer. So before selling, it is advisable to <a href="https://www.calgary.com/blog/painting-your-home-what-colors-should-you-paint/">choose paint colours</a> that make it easier for buyers to visualize themselves living in the space.
Texturing
Wall texture makes painting difficult, and many buyers aren't interested in wall texture as an aesthetic choice. While some homeowners may think that textured walls add character or hide imperfections, the reality is that many buyers prefer smooth, clean walls that provide a blank canvas for their own design ideas. Plus, textured walls can be more difficult to maintain and are associated with older styles that won't appeal to people looking for modernity.
Rather than texturing the walls, many homeowners would be better off painting stripes or other patterns on their walls. These can be easily covered up when the time comes to sell.
Wallpaper
While wallpaper may seem like a simple way to add personality and style to a space, it can actually have the opposite effect. Trends come and go, and what may have been popular a few years ago can now look dated and unappealing. Many buyers want a modern and up-to-date home, and outdated wallpaper can give the impression that the entire property is stuck in the past.
Plus, not everyone will have the same taste in design. Buyers may struggle to envision themselves in a home that is decorated with someone else's preferences, and removing wallpaper can be a long process. They may be hesitant to purchase a home that requires this additional work, especially if they are on a tight timeline or budget.
Changing Living Spaces
Many homeowners make the mistake of making significant changes to their home's layout, such as transforming one kind of room into another or removing walls to combine spaces. While this may work for them, it can turn away buyers looking for something more standard.
Converting a Bedroom
Home buyers like bedrooms. Converting a bedroom into something like a home office or a recording studio limits the number of people who can live in the house and the number of buyers interested in the property. Don't forget that the needs of potential buyers can vary; by converting a bedroom into a specific space, sellers limit the flexibility of the house to accommodate different preferences and lifestyles.
If a bedroom transformation is vital, homeowners should ensure the bedroom can still be used as a bedroom when someone else moves in. Otherwise, sellers might also be looking at a lower resale value and fewer offers.
Garage Conversions
Transforming a garage into a different space can be detrimental for homeowners looking to sell their property. While repurposing the garage into a <a href="https://www.calgary.com/blog/home-gym-design/">home gym</a>, office, or playroom may seem like a good idea, it can have negative consequences when attracting buyers. Potential buyers often value having a functional garage for storage or parking their vehicles.
By converting the garage into something else, homeowners may limit their pool of buyers and decrease the overall value of their property. Additionally, converting the garage into a living space without obtaining the necessary permits and approvals can lead to legal and safety issues.
Combining Rooms
Combining rooms can often result in a confusing and disorganized living space. Homeowners might like the idea of opening up the house and creating a more spacious feel, but it's essential to consider the potential drawbacks. When rooms are combined, their original purposes can be lost. For example, combining a bedroom with a living room may eliminate a private space for relaxation or study.
Removing a wall between two bedrooms to create one large room is another way of removing a bedroom and reducing a home's resale value. A homeowner who needs a large room may want to make an <a target="_blank" href="https://zzonehomes.ca/blog/how-long-does-a-home-addition-take/">addition to their home</a> rather than knocking down a wall inside.
Not Knowing the Neighbourhood
When it comes to home renovations, not knowing the neighbourhood can lead to some costly mistakes. Understanding their community helps homeowners avoid making expensive improvements that don't align with the market value of the area.
Too-Luxury Kitchen Renovation
A high-end kitchen may seem appealing, but it can hinder the sale of a house if it doesn't match the overall value and style of the area. Going too extravagant may not yield a significant return on investment since potential buyers may not be willing to pay a premium price for a kitchen that doesn't align with the neighbourhood's standards.
Installing top-of-the-line appliances, custom cabinets, lavish light fixtures, and expensive countertops can add value to homes—but might make the house overpriced compared to other homes in the neighbourhood, deterring buyers. Plus, a luxurious kitchen in a modest community may create a stark contrast that doesn't fit in with the area's overall aesthetic. This inconsistency can make it difficult for buyers to envision themselves living in the house.
Swimming Pool
Though many might like the idea of a pool in their backyard, it can turn off potential buyers if it doesn't align with the surrounding homes. Generally speaking, people who want pools are people with children, which limits interested buyers. In addition, taking care of pools can be expensive and time-consuming, and many may not want to deal with it.
It's important for homeowners to research and understand the preferences and demographics of their neighbourhood before investing in a pool, as it may not add the desired value and could delay the sale of the property.
Unpermitted Work
<a href="https://www.calgary.com/blog/what-can-homeowners-do-about-unpermitted-work/">Unpermitted work</a> can significantly decrease a home's resale value and desirability for buyers. When considering a property, buyers often look for a home that is safe, up to code, and free from any potential legal issues. Many buyers will ask for unpermitted work to be torn out and replaced with permitted work, and those that don't may offer less money. Homeowners who are making home renovations should always go the extra mile to get the work permitted.
Here are three reasons why unpermitted work can turn off buyers:
Increased liability: Unpermitted work may not meet building codes and safety regulations, putting buyers at risk. They may be held liable for any issues that arise from the unpermitted renovations or additions. This can lead to increased insurance costs and potential legal troubles.
Difficulty obtaining financing: Lenders typically require an appraisal before approving a mortgage. Unpermitted work can negatively impact the appraisal value of a home, making it difficult for buyers to secure financing. Banks are less likely to provide loans for properties with unpermitted work, as it represents a higher risk.
Potential costly repairs: Unpermitted work may not have been done to the same standard as permitted work. This can result in hidden issues that may require costly repairs down the line. Buyers are often hesitant to invest in a property that may have underlying problems.
It is essential for homeowners to ensure that any renovations or additions to their property are properly permitted and meet building codes. This will not only increase the value and desirability of the home but also provide peace of mind for potential buyers.
Prioritize Home Renovations That Increase Property Value
It is crucial for homeowners to avoid making certain home improvements that can deter potential buyers and prolong the sale process. This includes making drastic changes to the walls, altering room layouts without considering functionality, and not being aware of the neighbourhood's preferences. Additionally, undertaking unpermitted work can create legal and financial issues. By avoiding these mistakes and focusing on <a href="https://www.calgary.com/blog/best-home-renovations-before-selling/">renovations that add value to your home</a>, you can increase the appeal of their homes and attract more interested buyers, leading to a smoother and quicker sale.2024-01-15T08:22:00-07:002024-01-16T08:59:50-07:00Justin Havretag:calgary.com,2012-09-20:186197 Easy Ways to Boost Your Home's Curb Appeal: DIY Curb Appeal Ideas & Tips<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/curb-appeal-basics.jpg" alt="Curb Appeal Ideas & Tips" width="475" />When homeowners put their homes on the market, they need to remember that attracting buyers requires more than just a "For Sale" sign in the front yard. From painting and landscaping to cleaning and repairing, there are numerous strategies for boosting your home’s curb appeal. These can make a significant difference in how your home is perceived, especially if you're <a href="https://www.calgary.com/blog/what-to-expect-when-selling-a-home-in-a-buyers-market/">selling in a buyer's market</a>. What basics should homeowners know about curb appeal, and what can they do themselves? Let's dive in and discover the secrets to capturing the attention of those buyers.<br /><br />Why Does Curb Appeal Matter?
Curb appeal has a significant impact on a home's perceived value and buyer interest; improvements can punch up a drab exterior and get more offers on the table. Prospective home buyers often do a drive-by or use <a href="https://www.calgary.com/blog/professional-real-estate-photography/">online photographs</a> of the property to select those properties worth their consideration. Real estate agents recommend that property owners take time to analyze a home's exterior and make necessary improvements to areas seen by individuals on the street.
Just imagine potential buyers pulling up in your driveway and taking the first look at your home. If toys or tools are spread around the yard and the grass hasn't been mowed in a few weeks, there's a good chance that these viewers will just turn around and not even bother entering your home.
The way you keep your front yard is a direct reflection of how the interior is probably going to look. If you don't have the time to make the front of your home look its best, what type of effort are you able to put into the interior of your property? A home with a well-maintained and attractive exterior is more likely to catch their attention and generate positive feelings.
While sellers should make improvements before a home goes on the market, remember that regular maintenance is required while the home is listed. Many people turn to professionals to take care of their yard while their home is for sale. <a target="_blank" href="https://www.propertywerks.ca/lawn-care">Lawn care services</a> are affordable, impress buyers, provide a great return on investment, and are one less thing to worry about during your move.
Do New Paint Jobs
A fresh coat of paint on the front door and siding can transform the exterior of a home, enhancing its overall appearance and boosting its curb appeal. Painting is a cost-effective way to update the look of a house and make it more attractive to potential buyers.
When <a href="https://www.calgary.com/blog/painting-your-home-what-colors-should-you-paint/">choosing a colour</a> for the front door, it's important to consider the style of the home and the surrounding neighbourhood. A vibrant colour can make a statement and create a focal point, while a more subtle hue can provide a classic and timeless look. It's also important to ensure that the paint is in good condition and free from any chips or peeling.
In addition to the front door, painting the siding can drastically improve the curb appeal of a home. A fresh coat of paint can cover up any imperfections and give the house a clean and polished appearance. When selecting a colour, it's important to choose one that complements the style of the home and fits in with the surrounding houses.
Keep the Landscaping Neat
By carefully planning and implementing <a href="https://www.calgary.com/blog/home-landscaping-guide/">landscaping techniques</a>, sellers can create an inviting and aesthetically pleasing environment that attracts potential buyers. If your home doesn't have the greenest grass on the street or thousands of dollars of landscaping, it really doesn't matter. All you need to do is make sure that it does have an uncluttered and clean appearance to make it look its best.
New Plantings
Adding vibrant and colourful flowers can instantly brighten up the exterior of your home. Choose a variety of flowers that bloom at different times of the year to ensure a continuous burst of colour. Additionally, planting trees can provide shade and create a more serene atmosphere. As seasons change, make sure to remove dead or unhealthy-looking plants, as they become an eyesore and can create a distraction for buyers.
Address Weeds & Pests
Weeds can quickly detract from the beauty of your landscape. Take the time to regularly pull out any unwanted plants and keep your garden beds and planters looking neat and tidy. Also, address areas of discoloration and attend to any unusual holes in the landscaping. Such holes can indicate a pest problem. If this is the case, a seller may want to fix this issue before doing additional cosmetic work on the property.
Lawn Care
A well-maintained lawn is essential for a polished look. Regularly mow your grass to keep it at an even height, ensuring a neat and manicured appearance. Any landscaping features such as trees, shrubs, and hedges should be well-trimmed and look good for each <a href="https://www.calgary.com/blog/showing-tips-for-your-next-open-house/">home showing</a>.
Extra Touches
Mulch or decorative rocks can be used to create defined borders around flower beds and trees. This not only adds visual appeal but also helps to prevent weed growth and retain moisture in the soil. That said, it's not necessary in most cases. After all, you are planning on selling your home, so you won't want to put too much money into it at this point unless something absolutely needs to be done.
Clean Up Around the Front
It’s important to thoroughly clean the exterior of the home, as it can make a significant difference in how buyers perceive a property. Make a home look shiny and inviting by cleaning windows and replacing or painting any worn areas. Dingy, dirty siding can benefit from a good cleaning, and peeling paint can benefit from having a new coat applied.
Apart from the house itself, make sure that you have cleaned up any debris or clutter and haven’t left anything on the front porch that makes it look too busy. Remove clutter from outdoor spaces and either garage items or throw them away. The aim is to create a clean and organized appearance from the road. This also goes for random furniture or project vehicles.
Decks, outdoor patios, walkways, and driveways are also areas that can use a thorough cleaning. Cleaning up the driveway involves removing any debris, such as leaves or branches, and ensuring that it is free from oil stains or other unsightly marks. Also, consider using a pressure washer on the sidewalks to really make them shine. As the weather cools, make sure to rake or remove snow from all pathways of a property.
Repair or Replace Fixtures
After thoroughly cleaning the exterior, the next step in boosting a house's curb appeal is to address any necessary repairs or replacements. Fix broken railings, gates that fail to latch, broken windows and other elements that may cause injury or make a property appear to be less than fully secure. Buyers want to move into a property with a feeling of complete security.
Some other spots you’ll want to focus on include:
House numbers: Consider replacing old, faded house numbers with new ones that are easily visible from the street. You can even put them on your mailbox if you have one nearby. This small change can make a big difference in giving your home a fresh and modern look.
Light fixtures: Outdated or worn-out light fixtures can make a home appear outdated and uninviting. By replacing them with stylish and <a href="https://www.calgary.com/blog/energy-efficient-upgrades-how-to-make-the-best-investment/">energy-efficient</a> options, you can instantly enhance the overall aesthetic of your home's exterior.
Gutters: Damaged or clogged gutters not only detract from the appearance of your home but can also lead to serious structural issues. Make sure to repair any leaks or sagging and clean out any debris to ensure that your house looks well-maintained and protected.
Exterior trim: Cracked or peeling paint on exterior trim can give the impression of neglect. Take the time to repair and repaint any damaged areas to give your home a fresh and polished look.
Help Your House Sell With Good Curb Appeal
Enhancing your house's curb appeal is vital in attracting potential buyers. By painting the exterior, maintaining a well-groomed landscape, cleaning thoroughly, and repairing any damages, you can greatly increase the overall attractiveness of your property. These simple yet effective home improvements can make a significant difference in the first impression buyers will have, ultimately increasing the chances of a successful sale.
Decide on a budget and allocate some of the funds to dressing up the exterior of the home. Make your home as attractive as possible when on the market—even homes in popular communities need good curb appeal, and there are plenty of pictures of various design and landscaping ideas if you need inspiration. Homeowners looking to sell a home quickly or get the price they want for a property often invest in the exterior and interior of a home.2024-01-11T11:36:00-07:002024-01-15T09:21:50-07:00Justin Havretag:calgary.com,2012-09-20:21581Calgary vs. Edmonton AB: 7 Things to Know BEFORE Moving<img style="margin: 0 auto 20px auto; display: block;" src="/userFiles/4845/image/calgary-vs-edmonton.jpg" alt="Comparing Calgary and Edmonton" />
Deciding between Calgary and Edmonton for a new home is a significant choice for many, as both cities offer unique lifestyles in Alberta, Canada. The <a href="https://www.calgary.com/real-estate/" title="Calgary Homes for Sale">city of Calgary</a>, known for its proximity to the Rockies and vibrant city life, contrasts with Edmonton's rich cultural scene and expansive parkland. Homebuyers weigh the pros and cons of living in each city, considering factors like climate, employment opportunities, recreational activities, and cultural offerings. Understanding the distinct characteristics of Calgary and Edmonton is key to making an informed decision that aligns with personal preferences and lifestyle needs.
Is it Cheaper to Live in Calgary or Edmonton?
Overall, Calgary is slightly more expensive than Edmonton. However, there's not a major difference in cost for those considering these two most prominent cities in Alberta as their new homes. So, while the cost of living is much more of a factor for those <a href="https://www.calgary.com/blog/calgary-vs-toronto/">comparing living in Calgary and Toronto</a>, there are still some important distinctions worth considering for would-be residents.
Cost of Living
Real estate is the single most significant difference between the cost of living in Calgary and Edmonton, two cities that share many other qualities. <a href="https://www.calgary.com/calgary-condos-lofts/">Condos for sale in Calgary</a> list from the high $100s to more than $3 million, while <a href="https://www.calgary.com/townhouses/">Calgary’s townhomes</a> typically sell from the mid-$200s to just over $1.5 million. Detached homes can be found in the $500s, but the majority list from the $800s to $1.3 million. For those considering <a href="https://www.calgary.com/luxury-homes/">luxury homes in Calgary</a>, options start just north of $1 million and can soar to $10 million.
In Edmonton, condos are found around $100,000, townhomes around $300,000, and single-family homes anywhere from $400,000 to multi-million-dollar estates. Renters will find a similar trend reflected between the two cities. However, it's important to note that both cities are substantially more affordable than other major Canadian cities like Toronto, Vancouver, and Montreal.
Utilities are closer in price, though Calgary residents generally pay a bit more. This is the case for most other areas of spending with regard to <a href="https://www.calgary.com/blog/calgary-cost-of-living/">Calgary’s cost of living</a>, including food, transportation and gas, entertainment, and more. Residents of both cities pay similar costs for medical treatment through the Alberta Health Care Insurance Plan.
Typical Salaries & Income
Any discussion of affordability has to factor in the earnings that residents of each place can expect. Households in Calgary typically have a slightly higher income than Edmonton households, helping ease some of the higher cost of living.
Although the number has waivered in past years, both Calgary and Edmonton see an average household income above the national average. Many of the highest-paid jobs in Alberta can be found in <a href="https://www.calgary.com/downtown-commercial-core-real-estate/" title="Commercial Core Homes for Sale">Calgary’s Downtown Commercial Core</a>, and Downtown Edmonton has abundant employment opportunities, too. Residents of both cities are assured a provincial minimum wage of $15 per hour, with limited exceptions for students, salespeople, and live-in domestic employees.
Both Calgary and Edmonton also offer the benefit of some of the lower provincial income taxes (especially for higher earners) and no provincial sales tax to help residents' dollars go further.
How's the Weather in Calgary vs. Edmonton?
<img src="https://assets.site-static.com/userfiles/4845/image/calgary-edmonton-weather.jpg" alt="Weather in Calgary vs. Edmonton" style="display: block; margin: 20px auto;" />
Separated by about three hours within Alberta, there are relatively few differences between the climate in these two cities outside of typically slightly warmer temperatures in Calgary. In winter, temperatures in Edmonton range from -14°C to -1°C, while summers rarely see temperatures over 24°C. In Calgary, the weather in the winter ranges from -11°C to 2°C, with similar warm weather highs as in Edmonton.
Edmonton also has more pronounced differences in daylight between long summer days and short winter ones. Both cities see a rainy season between May and August, typically receiving 1.5–3 inches of rainfall per month during this time. Significant snow is possible in both cities as early as October and as late as May.
However, Edmonton typically receives more total snow than Calgary from November through March. Calgary is also the beneficiary of the unique weather phenomenon known as <a target="_blank" href="https://cwf.ca/research/publications/five-facts-about-chinooks-natures-gift-to-calgary/">Chinook winds</a>, which are warm, dry winter winds that can help quickly raise temperatures and eliminate snow on the ground.
Which is Bigger, Calgary or Edmonton?
By any metric, Calgary is the bigger of the two cities. About 1.4 million people live in Calgary, making it one of the largest cities in Canada. It’s worth noting, however, that there’s plenty of open space throughout <a href="https://www.calgary.com/blog/which-parks-are-the-best-in-calgary/">Calgary’s best parks</a>. In comparison, Edmonton is home to around 1.1 million people. Calgary is also bigger geographically, spanning 825 square kilometres compared to Edmonton's 684 square kilometres.
This means Calgary residents should also expect a slightly higher population density. However, those looking for all the amenities of big city life will be sure to find them in both spots. They're also far larger than any other Alberta city.
Finding a Job in Calgary vs. Edmonton
<img src="https://assets.site-static.com/userfiles/4845/image/calgary-edmonton-jobs.jpg" alt="Job Market in Calgary vs. Edmonton" style="display: block; margin: 20px auto;" />
Calgary and Edmonton offer some of the province and nation's best job opportunities. They typically have similar unemployment rates, slightly but not significantly higher than the rate for all of Canada.
The two cities also share one major source of jobs: the energy industry, a dominating economic force within Alberta. Beyond this, Calgary often leans toward sectors like finance, insurance, and technology—especially in the <a href="https://www.calgary.com/downtown-real-estate/" title="Downtown Calgary Homes for Sale">Downtown Calgary</a> economic hub—while Edmonton has a large number of government jobs as the provincial capital, as well as thriving education and health fields from top universities and medical facilities.
Calgary's slightly larger economy may also make it easier to find more diverse positions supported by the more sizeable population. On the other hand, Edmonton has a more extensive blue-collar workforce employed in manufacturing and similar fields. Of course, both provide ample employment opportunities in retail, food service, and hospitality.
Getting Around in Calgary vs. Edmonton
Calgary and Edmonton are easy to get around, whether those considering moving there will get around on public transit or in their own vehicles. Both are broadly similar, though Calgary may have a slight edge.
Public Transportation
Residents of either city looking to do daily travel without a car will have several options.
<a target="_blank" href="https://www.edmonton.ca/edmonton-transit-system-ets">Edmonton Transit Services</a> (ETS) serves a wide-ranging network of bus routes and stops spread throughout the city. ETS also runs Edmonton's Light Rail Transit (LRT), which provides three lines that serve central, northeast, southeast, and southwest Edmonton. Daily, multi-ride, and monthly passes are also available for lower per-ride costs, while seniors and students enjoy reduced fares.
However, Calgary Transit is even more comprehensive in its service, with over 200 bus routes and 6,000 widely spread stops. Calgary residents can also hop on the C-Train, the city's light rail service. Two lines serve over 50 stops on the popular system. These trains run from the <a href="https://www.calgary.com/tuscany-real-estate/" title="Tuscany Homes for Sale">Tuscany neighbourhood</a> in Northwest Calgary to the <a href="https://www.calgary.com/shawnessy-real-estate/" title="Shawnessy Homes for Sale">Shawnessy area</a> in the south; and from Saddle Ridge in the northeast to the exclusive <a href="https://www.calgary.com/springbank-hill-real-estate/" title="Springbank Hill Homes for Sale">Springbank Hill neighbourhood</a> in the west. Daily and monthly passes provide discounts for frequent riders, while seniors and younger people are also eligible for reduced fares.
Both cities offer numerous ride-sharing services and taxi options, which can help residents travel to areas less easily reached with public transportation.
Driving & Traffic
Both Edmonton and Calgary have an extensive road network and convenient connections to some of the country's major travel routes like Highway 1/Trans-Canada Highway in Calgary, Highway 16/Yellowhead Highway in Edmonton, and Highway 2 connecting the two. The Trans-Canada Highway connects Vancouver and Winnipeg, and in addition to running through the heart of Calgary, it also provides easy access to the <a href="https://www.calgary.com/chestermere-alberta-real-estate/" title="Chestermere Homes for Sale">city of Chestermere</a>, the <a href="https://www.calgary.com/strathmore-alberta-real-estate/" title="Strathmore Homes for Sale">Strathmore community</a>, Banff, and much more.
Each city also enjoys highways ringing much or all of the area for easy travel around the region, like Anthony Henday Drive in Edmonton and Stoney Trail in Calgary. Traffic patterns are fairly typical, peaking during the morning and afternoon rush hours.
Despite Calgary's higher population, traffic still tends to be a bit worse in Edmonton. Traffic data shows Edmonton residents spend around 135 hours in rush hour traffic per year on average, compared to just 110 hours for those who live in Calgary. Still, both are far less than Toronto and Vancouver, which see about 200 hours of rush hour traffic per year.
Does Calgary or Edmonton Have Better Things to Do?
<img src="https://assets.site-static.com/userfiles/4845/image/calgary-edmonton-activities.jpg" alt="Activities in Calgary vs. Edmonton" style="display: block; margin: 20px auto;" />
To be sure, residents of either city won't struggle to find ways to have fun and keep themselves busy. However, their preferred type of activities may help them decide between these two fun, cultured places to call home.
Outdoor Activities
Alberta's gorgeous natural environments shine in Edmonton and Calgary alike, with different emphasis. Calgary is well-known as the gateway to the Rocky Mountains, which begin about 80 kilometres west of town. That makes it easy to take day trips to popular spots like Banff and the <a href="https://www.calgary.com/canmore-alberta-real-estate/" title="Canmore Homes for Sale">town of Canmore</a>, top outdoor adventure areas for hikers, bikers, campers, rock climbers, and more. Closer to home, city green spaces like Prince's Island Park (in the <a href="https://www.calgary.com/eau-claire-real-estate/" title="Eau Claire Homes for Sale">Eau Claire neighbourhood</a>) and Nose Hill Park in <a href="https://www.calgary.com/north-west-communities/" title="Northwest Calgary Homes for Sale">Northwest Calgary</a> provide peaceful escapes and fun amenities.
Meanwhile, Edmonton also offers many diverse, gorgeous parks along the North Saskatchewan River Valley, which weaves through the city centre. These include the history and heritage of Fort Edmonton Park and the unique, breathtaking displays of the botanical gardens at Muttart Conservatory. Edmonton is also just a short drive from Elk Island National Park, east of the city, home to incredible wildlife and preserved landscapes.
Arts & Culture
Calgary residents enjoy all of the cultural perks one would expect from a major city, including extensive art galleries, music venues, and educational spots like the Glenbow Museum. Of course, there's no cultural event bigger in town than the city's famous, <a href="https://www.calgary.com/blog/best-things-to-do-during-the-calgary-stampede/">activity-filled Calgary Stampede</a>, an annual rodeo and festival. This is just one of the numerous events Calgary hosts every year, including festivals for all sorts of music.
Many find Edmonton to have a more pronounced artsy vibe in some areas of the city. It's also home to North America's oldest and largest Fringe Theatre Festival and numerous museums like the Art Gallery of Alberta and the Royal Alberta Museum. In addition, the Winspear Centre hosts concerts and other live performances.
When it comes to entertainment, sports lovers will also be able to cheer on the local pro teams in both cities. <a href="https://www.calgary.com/blog/calgary-sports-guide/">Calgary’s professional sports</a> include the NHL’s Flames and the CFL’s Calgary Stampeders, while Edmonton hosts the NHL Oilers and CFL Eskimos.
Food & Nightlife
Calgary may be best known for its high-quality, grain-fed Alberta beef, but also provides one of the country's most diverse dining scenes when it comes to cuisine and price. It offers a thriving nightlife scene, especially along the city's bustling 17th Avenue corridor, and <a href="https://www.calgary.com/blog/calgary-pizza-parlors/">Calgary’s best pizza parlours</a> are all worth a visit. Edmonton also boasts popular nightlife and dining nears, particularly near downtown and the Old Strathcona neighbourhood. Dining options are also plentiful and varied and focus on locally sourced food.
Calgary vs. Edmonton: Coming Home to Alberta
Choosing between Calgary and Edmonton for a home depends largely on individual preferences and priorities. <a href="https://www.calgary.com/blog/best-neighbourhoods-calgary-ab/">Calgary's best neighbourhoods</a>, scenic beauty, and dynamic urban atmosphere appeal to those seeking an active lifestyle, while Edmonton's cultural richness and community-focused environment attract those who value arts and green spaces. Ultimately, whether drawn to Calgary's mountainous backdrop or Edmonton's vibrant arts scene, both cities promise a fulfilling living experience in their own distinct ways.
2024-01-10T11:24:53-07:002024-01-10T11:37:16-07:00Justin Havretag:calgary.com,2012-09-20:21565Successfully Selling a Smoker's Home: How to Get Rid of Cigarette Smell in Homes<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/selling-house-with-cigarette-damage.jpg" alt="How to Sell a House With Cigarette Smoke Damage" width="475" />Selling a house that has been smoked in presents unique challenges and a clear opportunity for transformation. The lingering smell of smoke and potential residue can turn off many potential buyers, but homeowners can significantly improve their property's appeal by addressing these issues head-on. Removing all traces of smoke odour and damage is essential to ensure a fresh and inviting atmosphere, much like deliberate cleaning and showing are essential to <a href="https://www.calgary.com/blog/selling-a-house-with-pets/">selling a house with pets</a>. Are you trying to sell a home damaged by cigarette smoke? If so, here is everything you need to know before submitting your listing.<br /><br />Understanding Thirdhand Smoke
Thirdhand smoke is the invisible yet persistent aftermath of tobacco use, comprising residual nicotine and other harmful chemicals left on indoor surfaces by tobacco smoke. These toxic remnants stick to walls, carpets, furniture, and circulate through HVAC systems, embedding themselves in the environment long after the visible smoke dissipates and creating <a href="https://www.calgary.com/blog/serious-home-safety-hazards-for-new-homeowners/">household safety hazards</a>.
Thirdhand smoke poses significant health risks. For instance, toddlers crawling on carpets or touching walls can ingest these toxins, leading to developmental issues or respiratory problems. Adults can suffer as well, as the chemicals can exacerbate allergies and asthma. Moreover, the carcinogens in thirdhand smoke, such as formaldehyde and benzene, are known for their cancer-causing potential, making long-term exposure a serious health hazard.
This enduring residue affects not just the home's aesthetics with its stubborn odours and stains, but more importantly, it compromises indoor air quality and poses a silent threat to the well-being of inhabitants. Therefore, understanding and addressing thirdhand smoke is not just about property maintenance but about ensuring a safe and healthy living environment.
The Impact of Thirdhand Cigarette Smoke on Property Values and Buyer Perceptions
Thirdhand smoke significantly affects both the property value and potential buyer interest. Homes with a history of smoking can see their <a target="_blank" href="https://thirdhandsmoke.org/does-thirdhand-smoke-decrease-my-homes-value/">market value decrease</a> by up to 30%, a testament to the anticipated costs, the effort involved in eradicating the smoke remnants, and the overall reduced desirability. The decrease is not merely due to the physical remnants of smoking, such as stains and odours, but also the associated health risks that these remnants imply.
Buyers today are more informed and health-conscious. They understand that while the visible signs of thirdhand smoke might be cleaned or painted over, the embedded toxins can persist, posing long-term health risks. This awareness leads to skepticism and a quicker dismissal of properties with a smoking history. Successfully addressing both the tangible and perceived impacts of thirdhand smoke is crucial in mitigating its effect on property value and attracting a broader pool of potential buyers.
Legal Considerations and Disclosure
Navigating the sale of a home with a history of smoking involves understanding and adhering to certain legal considerations, particularly regarding disclosure. Sellers are often legally obligated to disclose if the property has been subjected to indoor smoking, depending on where they live. This requirement is based on the principle that buyers have a right to know about factors that might affect their health or the property's value. Not disclosing the history of smoking can lead to legal disputes, diminished trust, and potential deal-breakers post-sale.
In addition to formal disclosures, the issue of thirdhand smoke is increasingly recognized in real estate transactions. Educated buyers might ask direct questions about the smoking history of the home or look for signs of remediation efforts. Home inspectors might note the presence of residues or odours associated with smoking. Therefore, honesty and transparency about a home's smoking past, coupled with documented efforts to address and remediate the issue, are critical in maintaining integrity, avoiding legal pitfalls, and ultimately facilitating a successful sale. Sellers must be aware of their local laws and regulations regarding disclosure and work to ensure that all necessary information is communicated clearly and accurately to potential buyers.
Effective Cleaning and Remediation Strategies for Cigarette Smoke
Effectively addressing thirdhand smoke is essential for selling a smoker's house and involves deep cleaning and possibly extensive remediation. Here are some <a href="https://www.calgary.com/blog/home-cleaning-checklist-before-moving/">cleaning strategies</a> homeowners can employ to rid their homes of thirdhand smoke:
Deep Cleaning: Begin with a thorough cleaning of all surfaces. Walls, ceilings, and hard flooring should be washed with a solution of trisodium phosphate (TSP) or white vinegar and water to break down and remove nicotine and tar residue. This step often needs to be followed by repainting with a sealing primer to lock in any remaining odours.
Soft Furnishings and Fabrics: Carpets, drapes, and upholstered furniture absorb smoke odours and chemicals and often require professional cleaning or replacement. Consider steam cleaning or applying baking soda to absorb odours before vacuuming thoroughly. In severe cases, replacing these items may be the most effective solution.
HVAC Cleaning: Smoke can permeate an HVAC system, spreading the smell throughout the house. Cleaning or replacing ductwork and changing air filters to high-quality HEPA filters can significantly reduce lingering odours and improve overall air quality.
Ozone Treatment: Ozone generators can be used as a final step to neutralize stubborn odours. These machines release ozone, a powerful oxidant, which reacts with and breaks down smoke particles. However, ozone treatment should be used cautiously, and the space must be vacated during treatment due to the potential health risks of inhaling ozone.
Professional Remediation: In cases where DIY methods are insufficient, professional remediation may be necessary. These experts have the tools and techniques to assess and effectively treat homes affected by thirdhand smoke, ensuring that all residues are removed and the home is safe and appealing to potential buyers.
By employing these strategies, homeowners can significantly reduce or eliminate the signs and smells of thirdhand smoke, making their property more attractive and valuable in the <a href="https://www.calgary.com/blog/what-to-expect-when-selling-a-home-in-a-buyers-market/">competitive real estate market</a>.
Breathe Easy While Selling Your Home
Revitalizing a smoker's house for sale requires effort and attention to detail, but it's an achievable goal. You can overcome the challenges with the right strategies and present a welcoming home. Remember, a fresh start appeals to everyone, and with these tips, your smoker's house will be ready for its new owners.2024-01-09T10:36:48-07:002024-01-10T13:07:30-07:00Justin Havretag:calgary.com,2012-09-20:21591Should Sellers Get Pre-Sale Home Inspections? 4 Reasons Why Pre-Listing Inspections Matter<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/pre-listing-inspection.jpg" alt="Benefits of Having a Pre-Listing Home Inspection" width="475" />Selling a home is a significant decision, and a pre-listing home inspection can play a pivotal role in this process. A pre-sale home inspection evaluates the condition of a property before it's listed, identifying any issues that could affect the sale or valuation. This type of inspection provides sellers with a clearer <a href="https://www.calgary.com/blog/real-estate-valuation-understanding-your-homes-value/">understanding of the home’s value</a>, allowing them to address potential problems beforehand. It ensures a smoother transaction, potentially increasing the home's value and decreasing the time it spends on the market. Understanding the importance of a pre-inspection can be the key to a successful and stress-free sale.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />Key Takeaways
A pre-listing inspection is crucial for understanding the true condition of a property before it hits the market.
This inspection allows sellers to address any issues early, potentially saving money and time during the sale process.
Knowledge gained from the inspection can assist in accurately pricing the home and make it more attractive to buyers.
Having this information upfront builds trust with buyers and can streamline the sale process.
What is a Pre-Listing Home Inspection?
A pre-listing inspection is a comprehensive assessment conducted by a professional home inspector before the seller puts the home on the market. This inspection covers all critical aspects of the property, including heating and cooling systems, electrical setups, plumbing, structural integrity, and interior and exterior conditions. The primary aim is identifying potential issues that could impede a sale or affect the home value—it's always simpler to address those issues before you begin implementing <a href="https://www.calgary.com/blog/showing-tips-for-your-next-open-house/">home-showing tips and tricks</a>.
By investing in this inspection, sellers gain invaluable insights into their property's condition, allowing them to make informed decisions about repairs and pricing. This step is about uncovering problems and demonstrating to potential buyers that the seller values transparency and care for the property.
Benefits of a Pre-Listing Inspection for Home Sellers
Facilitates Repairs Before Listing
A pre-listing inspection allows sellers to discover and address any issues in their home before putting it on the market. This proactive approach can range from minor repairs to addressing significant structural problems. By fixing these issues beforehand, sellers can improve their homes and potentially increase their market value.
Even if sellers choose not to make certain repairs, being aware of these issues helps fully disclose the property's condition to prospective buyers, thereby enhancing trust and credibility.
Streamlines Transactions
A pre-sale inspection can significantly streamline the sales process. When sellers are aware of their property's condition and have either addressed or disclosed issues, it reduces the likelihood of prolonged negotiations after the buyer's inspection. This transparency can also diminish the chance of buyers withdrawing offers due to unexpected problems, facilitating a smoother and quicker sale.
Assists in Accurate Pricing
Accurate pricing is crucial in the real estate market, and a pre-listing inspection provides the necessary information to set a fair and attractive price for the property. Sellers can use the inspection report to justify their asking price, whether they have addressed the identified issues or factored the cost of these repairs into the price. This approach helps find the right balance, ensuring that the property is neither undervalued nor overpriced.
Saves Money and Builds Trust with Buyers
Investing in a pre-listing inspection can save money in the long run. When issues are identified and addressed early, it prevents buyers from inflating repair costs during the <a target="_blank" href="https://homesellersguidealberta.ca/negotiations/">negotiation process</a>, which can lead to significant savings for the seller. Additionally, buyers often view this proactive step as a sign of honesty and responsibility, enhancing trust in the transaction.
Understanding the Inspection Process
The inspection process involves a thorough examination of various aspects of the property. A home inspection checklist is likely to include the following:
Heating and Cooling Systems: Ensuring they are functioning correctly and efficiently.
Electrical Systems: Checking for outdated wiring, safety hazards, or inefficiencies.
Plumbing: Identifying leaks, water damage, or pipe problems.
Structural Integrity: Searching for signs of weakness or <a href="https://www.calgary.com/blog/what-buyers-and-sellers-need-to-know-about-foundation-damage/">damage in the foundation</a>, walls, and roof.
Interior and Exterior Conditions: Assessing the condition of floors, walls, windows, and the exterior façade.
This comprehensive evaluation identifies current problems and anticipates potential future issues. The resulting report provides a detailed overview of the home's condition, which is invaluable for both the seller and potential buyers.
Managing Repairs and Disclosures Post-Inspection
Once the pre-listing inspection is completed, sellers face decisions regarding repairs and disclosures. Not all issues need immediate fixing; some might be minor or cosmetic, while others could be significant. Sellers should collaborate with their real estate agents to determine the most strategic approach, balancing repair costs against potential return on investment.
Full disclosure to buyers is key for issues not addressed, as it helps maintain transparency and avoid making a <a href="https://www.calgary.com/blog/selling-your-calgary-house-avoid-these-costly-mistakes/">selling mistake</a> that can lead to future legal complications. Disclosing known issues upfront enhances the seller's credibility and can lead to smoother negotiations.
Get a Pre-Listing Inspection and Be Ready to Sell
When you're getting ready to list your home, a pre-listing home inspection helps highlight the condition of your property and instills confidence in buyers about the quality of the home they are considering. With insights from these reports, sellers can make necessary repairs, enhance the appeal of their home, and potentially increase its market value. As you consider selling your home, remember the significance of a pre-inspection in paving the way for a successful and beneficial sale.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2024-01-08T11:59:00-07:002024-03-11T07:02:37-07:00Justin Havretag:calgary.com,2012-09-20:21599Can a House Be Sold With a Lien On It? What to Know About Selling a House With a Lien<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/selling-with-lien.jpg" alt="Can You Sell Your House if it Has a Lien?" width="475" />Selling a house with a lien can seem challenging, but understanding the process can transform it into a manageable task. By learning about the implications of a lien on a property, both legally and financially, sellers can make informed decisions and take the necessary steps to <a href="https://www.calgary.com/blog/ways-to-help-market-a-home-for-sale/">market the home</a> and ensure a smooth sale. So, if you're facing the challenge of selling when you have a lien, keep reading to discover the strategies and insights that will help you overcome this obstacle.
For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.<br /><br />Understanding Property Liens
A lien is a legal claim or hold placed by a creditor to secure a debt, and when it's placed on your property, it can significantly impact your ability to sell your home. Liens can affect your property's marketability and your credit score, making it crucial to understand their implications before selling your home.
There are mainly two types of liens: voluntary and involuntary. Voluntary liens are liens that the property owner agrees to, the most common example being a mortgage lien. Here, the home serves as collateral for the home loan. Involuntary liens arise when a property owner owes money and the creditor takes legal action. Common involuntary liens include tax liens, judgment liens (arising from a lawsuit), and mechanic's liens (for unpaid work).
Types of Liens on Your House
Homeowners should also familiarize themselves with the different types of property liens, especially if they want to sell soon. Here are four common types, which were briefly mentioned above:
Mortgage liens: These are the most common type of property liens. When you <a href="https://www.calgary.com/blog/mortgage-types/">take out a mortgage</a> to finance your home, the lender typically places a lien on your property. This lien gives the lender the right to foreclose on the property if you fail to make mortgage payments.
Judgment liens: A judgment lien can be placed on a property as a result of a legal judgment. If you lose a lawsuit and are ordered to pay a monetary judgment, the winning party can place a lien on your home to ensure payment.
Tax liens: When homeowners fail to pay their property taxes, the local government may place a tax lien on the property. This lien gives the government the right to sell the property to recoup the unpaid taxes.
Mechanic's liens: These liens are typically filed by contractors or subcontractors who have not been paid for <a href="https://www.calgary.com/blog/best-home-renovations-before-selling/">renovations done on the property</a>. Mechanic's liens give these individuals the right to force the sale of the property to collect payment.
Financial & Legal Implications of Liens
When selling your house with a lien, you must carefully consider the potential legal and financial implications. Ignoring these implications can lead to serious consequences and even jeopardize the sale of the property. Before selling, it is crucial to clear the lien from the property's title to ensure a smooth transfer of ownership.
Concerning finances, a lien might mean that part of the proceeds from the home sale will first go toward settling the debt. This can reduce the profit you stand to make, as the holder has the right to collect the debt out of the proceeds from the sale before the homeowner receives any money. This means that the homeowner may end up with less money than expected or even owe money after the sale.
Selling a home with a lien can also result in legal challenges. The lien holder may take legal action to recover the debt, which can lead to delays and complications in the selling process. It is important to <a href="https://www.calgary.com/blog/using-a-real-estate-agent/">use a real estate agent</a> and consult with a real estate attorney to understand the legal implications and navigate through the complexities of the process.
Plus, you must be transparent about any liens on the property during the sale process. This includes disclosing the nature and amount of the lien to potential buyers and ensuring that all legal requirements for the sale are met. Failure to disclose can result in legal consequences and may even lead to the termination of the sale. The resolution of the lien, whether through payment, negotiation, or legal action, should be documented accurately to ensure a smooth transfer of property ownership.
Process of Removing a Lien to Sell Your Home
To successfully navigate the sale process with a lien, homeowners must take proactive steps to address the lien and ensure a smooth transaction. The first step is to determine the type and amount of the lien. Homeowners should request a lien payoff statement from the lien holder outlining the outstanding balance and any additional fees. This information lets homeowners negotiate with the holder to reach a settlement or payment agreement.
There are several options for how to resolve the lien, including:
Payment of the Lien: The most straightforward method is to pay the lien. This <a target="_blank" href="https://www.investopedia.com/terms/c/clear-title.asp">clears the title</a>, making the property more attractive to potential buyers.
Negotiating the Debt: If paying the total amount isn't feasible, negotiating with the lienholder for a lesser amount can be an effective strategy. This often requires legal assistance to ensure proper documentation and compliance.
Legal Action: In some cases, particularly if the lien is disputed, legal action may be necessary. This could involve challenging the validity of the lien or negotiating terms in court.
If the home is already on the market, managing potential delays and buyer concerns is important. A lien can be seen as a red flag, making some buyers hesitant. Clear communication about the steps being taken to resolve the lien, as well as evidence of progress, can help maintain buyer interest.
Accurate and comprehensive documentation is crucial, providing proof that the lien has been appropriately resolved. Once an agreement has been reached, homeowners should work with the lien holder to obtain a lien release or satisfaction document. This document will prove that the lien has been satisfied and will be necessary for the sale of the property. It is important to note that the release of the lien may need to be recorded with the appropriate office.
Homeowners should also provide all necessary documentation to their real estate agent or attorney to ensure a smooth closing process. By being proactive and addressing the lien head-on, homeowners can confidently navigate the sale process and achieve a successful transaction.
Successfully Selling a House With a Lien
Selling a home with a lien can be a complex and challenging process. Understanding the legal and financial implications is crucial to navigate the sale process effectively. There are different types of property liens, each with its own set of considerations. It's essential to seek professional guidance and deal with liens proactively, whether paying off the debt, negotiating, or taking legal action. Transparent communication and thorough documentation are vital to maintaining buyer trust and ensuring legal compliance. Ultimately, with careful planning and consideration, homeowners can overcome the obstacle of a lien and complete the sale of their property.
For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.2024-01-05T08:11:00-07:002024-01-12T08:28:42-07:00Justin Havretag:calgary.com,2012-09-20:18725How Does For Sale By Owner Work? Pros & Cons of Selling a Home Without an Agent<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="/uploads/agent-1/why-you-should-not-sell-your-own-home.jpg" alt="Pros & Cons of FSBO" width="475" />Some people may be tempted to sell their home without a real estate agent, also known as For Sale By Owner (FSBO). While there are advantages to doing so, such as saving on commissions and having more control over the process, there are also some drawbacks to consider. Real estate agents bring in experience most homeowners don’t have, such as knowledge of the <a href="https://www.calgary.com/blog/how-to-really-know-when-to-sell-your-home/">best time to sell a home</a>, which can significantly help in a sometimes complex real estate landscape. If you’re considering doing FSBO, it’s key to learn about its pros and cons and why some reconsider and end up partnering with an agent.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />FSBO Meaning & Process
For Sale By Owner (FSBO) is a method of selling a property without the involvement of a real estate agent. It means that homeowners take on the responsibility of marketing, negotiating, and completing the sale of their property on their own, without the assistance of a professional.
By choosing FSBO, homeowners have the freedom to set their own asking price and negotiate directly with potential buyers. They can also showcase their property the way they see fit, whether through online listings, open houses, or traditional advertising methods. FSBO can be a cost-effective option, especially for those confident in their ability to handle the complexities of the real estate transaction process.
However, it's essential to consider the potential challenges of being an FSBO seller. Selling a property requires a deep understanding of local market conditions, <a href="https://www.calgary.com/blog/is-your-home-priced-to-sell/">pricing strategies</a>, legal documentation, and negotiation skills. Without the expertise of a real estate agent, homeowners may face difficulties in accurately valuing their property, attracting qualified buyers to the listing, and navigating through the intricate details of the sales process.
Pros of For Sale By Owner
Save on Commissions
Selling your home through FSBO can save you from paying commissions, allowing you to keep more of the home sale proceeds. These commissions are typically 5%–7% of the sale price, which can be a good chunk of money. These savings can be put towards buying a new home or wherever else it may be needed.
More Control Over Process
Another advantage of FSBO is the increased control homeowners have over the entire selling process. When selling their home themselves, they're in charge of every decision and step along the way. They can set their own listing price, choose the best marketing strategies, and even negotiate directly with potential buyers.
Cons of Selling a House By Owner
Selling Your Home is a Lot of Work
Selling a house entails significant work and responsibility; simply listing a home for sale is only the start of what needs to be done. Going the FSBO route means homeowners must take on the tasks typically handled by an agent, such as marketing the property, scheduling showings, and negotiating with potential buyers. This means investing time and effort into researching the market, creating compelling listings, and promoting the property through various channels.
Additionally, homeowners must be prepared to handle all the paperwork and legalities involved in the transaction, ensuring that everything is done correctly and in compliance with local regulations. It can be overwhelming to juggle all these responsibilities while managing their daily lives. Selling your home without an agent requires dedication, organization, and attention to detail, making it a lot of work for homeowners.
On top of taking care of all the to-do items, listing agents consider multiple factors when helping a seller, such as recently sold homes, the condition of a home, and the state of the local real estate market. They may tap into their network and resources to help drive visitor traffic and will be able to consult and give feedback from <a href="https://www.calgary.com/blog/showing-tips-for-your-next-open-house/">home showings</a>. They can objectively advise a homeowner on what they may want to do to make a home more appealing or to help them sell faster.
Getting Caught Up in Emotions
Sometimes, homeowners can become emotionally attached to their properties, making it difficult to make rational decisions when selling FSBO. Recognizing and navigating these emotions is important, as they can impact the overall selling process. Here are a few ways in which getting caught up in emotions can be a disadvantage when selling your home yourself:
Overpricing: You may overestimate the home value due to sentimental attachment, leading to unrealistic listing prices that can deter buyers.
Negotiation difficulties: Emotions can make negotiating challenging, potentially resulting in missed opportunities.
Limited perspective: Being emotionally invested in a home can make it difficult to see its flaws objectively, hindering the ability to make necessary improvements or address issues affecting its marketability.
Longer selling process: Emotional attachment can lead to hesitations or reluctance in making decisions, prolonging the time it takes to sell the property.
Increased stress: <a target="_blank" href="https://www.zolo.ca/blog/how-to-manage-stress-of-home-selling">Selling is already stressful</a>, but when emotions are involved, it can amplify the stress levels and impact overall well-being.
Staying grounded and approaching the selling process with a clear and rational mindset is crucial, even when emotions are running high.
Pricing the Home Can Be Tricky
One drawback of FSBO is that your home may sell for less than its market value. While selling without an agent can save on commission fees, it also means missing out on their expertise in pricing strategies. Without professional marketing materials and strategy, a home may not be presented in the best light, leading to lower perceived value.
A homeowner can easily price their home outside of what potential buyers expect. If the price is too low, a home may sell quickly, but a home seller may not get back the equity they put into a property. If it's too high, buyers looking at similar properties in that price range may not think your home is worth it. This may lead to a home lingering on the market, prolonging the home-selling process. An agent may suggest tactics in a <a href="https://www.calgary.com/blog/what-to-expect-when-selling-a-home-in-a-buyers-market/">buyer's market</a> that would not suit a more competitive market. Partner with an agent for a better idea of the fair market value of a home and what to do to attract buyers.
As a homeowner, it can be hard to understand when certain areas need updating to appeal to the average buyer. Some may find it challenging to listen to feedback from visitors and use it to better market their homes. In this initial phase of marketing and showing a home, it's important to get it right the first time. Is it worth taking a chance by choosing FSBO and not selling a home for its full value?
Lacking the Network & Experience of a Real Estate Professional
Without the support of a real estate agent, homeowners will likely lack access to an extensive network. Real estate agents have a vast network of contacts in the industry, including other agents, potential buyers, and professionals such as appraisers and inspectors. A homeowner often does not know which resources to use to list and market their home. They may not know whom to contact for <a href="https://www.calgary.com/blog/professional-real-estate-photography/">professional photography</a> and may not want to deal with communications from visitors to their listing. A significant time investment is involved in getting a home ready to go on the market.
The agent's network can be invaluable when it comes to marketing your home and finding qualified buyers. Without it, you may find reaching a large pool of potential buyers challenging. You'll have to rely solely on your own efforts to advertise and promote your property. This can limit your exposure and potentially result in a longer time on the market, especially if you cannot list your home on a multiple listing service (MLS).
Additionally, without an agent's network, you may miss out on valuable advice and guidance throughout the selling process through closing. It feels great to get a potential homebuyer who is ready to make an offer, but an FSBO seller will need to know about the paperwork and parties involved in a closing. It may be necessary to negotiate details and work out contingencies on contracts. The average homeowner may not be well-versed in what needs to happen, which is a significant disadvantage. Many choose to work with an agent to mediate and help move along the closing process.
Sell Home by Owner or With a Real Estate Agent?
While trying to sell your house by yourself can have advantages, there are also plenty of reasons why people prefer to work with an agent. While an FSBO sale gives you more control over the process and potentially saves on agent commissions, it also requires significant work, effort, and expertise. Ultimately, the decision to go FSBO should be based on a homeowner's available time and knowledge. Still, it's often hard to beat the expertise of a professional agent and their resources.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2024-01-04T15:12:00-07:002024-01-12T08:52:14-07:00Justin Havretag:calgary.com,2012-09-20:188764 Tips For How to Sell in a Buyer's Market: Sell Your Home Successfully<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/buyers-market-selling.jpg" alt="Tips for Selling in a Buyer's Market" width="475" />Selling your home in a buyer's market can be a daunting task. Buyers can be at an advantage with more available properties in the market, sometimes forcing concessions from sellers. However, with the right strategies, you can still thrive in this market and succeed in selling your home. From learning about everything from marketing and <a href="https://www.calgary.com/blog/is-your-home-priced-to-sell/">pricing your home</a>, to contingency clauses, you can feel better about selling in a buyer’s market.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />Understanding a Buyer's Market
In a buyer's market, housing inventory is high but demand is relatively low. This is a benefit to buyers as they have more properties from which to compare and choose, but potentially makes it more difficult for sellers to sell quickly or attract multiple offers on a home. Sellers should be aware that certain behaviours may be more likely to occur in a buyer's market, such as that of including specific contingencies in a contract or inquiring about a price reduction.
This leaves many sellers wondering how to sell in a buyer’s market, but there are plenty of strategies to help. Sellers need to stage and properly market their home, making repairs and upgrades in order to compete in such a market. That being said, it is still possible for well-appointed homes to linger on the market longer when similar properties are available, making it necessary for an affected seller to reduce their asking price in order to attract additional interest. Sellers may need to exert more patience when dealing with buyers who may want to get the best deal possible.
Marketing Strategies: Make Your Listing Memorable
When it's such a competitive market, buyers' attention must be captured by the seller's effective marketing of their home. One of the most important parts of <a href="https://www.calgary.com/blog/ways-to-help-market-a-home-for-sale/">marketing a home</a> is making sure it is visible to as many buyers as possible. Homeowners should list their property on a variety of platforms, such as MLS, Zillow, and Realtor.com.
It’s not enough to just make sure buyers can find the listing; writing a description that catches attention is key. It should include any information potential buyers may need, such as the home's features, local schools, and recent updates. Sellers may want to take initial steps to get <a href="https://www.calgary.com/blog/professional-real-estate-photography/">professional photographs</a> of their home and have it staged in order to better market a home on listing sites, helping improve traffic on a listing site and making for a better attended open house.
To make sure your home stands out from the competition, focus on the details. Small upgrades, such as a fresh coat of paint or updated light fixtures, can make a big difference. Adding curb appeal with landscaping and outdoor lighting can also help attract buyers. Inside, decluttering and staging a room can make it appear larger and more inviting.
Make sure to take care of all <a target="_blank" href="https://www.zolo.ca/blog/things-to-repair-before-selling-house">repairs before selling your home</a>, no matter how how minor they seem. Also, consider energy-efficient upgrades such as new windows or a new HVAC system. These can make the house more attractive to buyers and help command a higher price when you get an offer.
Pricing Your House to Sell: Find an Attractive Balance
All the marketing and staging in the world is unlikely to get your home to sell if you don’t price it properly, especially in a buyer’s market. To determine the right price, research the sale prices of homes similar to yours in the area. Compare your home's features and amenities to those recently sold to get a better sense of the home's value. Also, consider any special features your home may have that could add to its value.
It's important to be realistic when pricing your home, as a price that's too high could make it difficult to find a buyer. While it may be tempting to list your home at a higher price to see if you can get a better offer, it could end up backfiring. Potential buyers will be wary of a home that's spent a lot of days on the market, so it's best to set a price that is competitive and attractive to buyers.
Win Over Buyers: Be Open to Negotiations
There are ways to appear more attractive to buyers without reducing asking price. Sellers may choose to pay closing costs, allowing for potential homebuyers to have more initial cash on hand for other incidentals. In addition to this, sellers who get to know the local market and the type of buyers they hope to work with may want to make offers such as including major appliances, a nice consideration for first-time home buyers.
Working with a buyer's timeframe can help attract and motivate the right buyers to make an offer and go to closing on a home, such as closing before the beginning of the school year for buyers with schoolchildren. These approaches can help sell a house quickly in a buyer’s market, potentially increasing offers and helping sellers build good working relationships with ideal buyers.
Sellers should also be aware that <a href="https://www.calgary.com/blog/home-buying-contingencies-everything-you-need-to-know/">contingency clauses</a> may be used in a real estate contract when selling a home. These clauses are actions that must be done within specific timeframes and serve to protect buyers and sellers. Such clauses are often included in contracts in a buyer's market and may not be seen as frequently in a seller's market. Performing a home inspection in a specified amount of timeframe is one of the types of actions that may be considered to be a contingency clause. In Canada, a sale and settlement contingency is often included in real estate contracts.
Successfully Selling Your Home in a Buyer's Market
By taking the time to help your home stand out from the competition, you can successfully sell it in a buyer's market. It's an investment of time and energy, but it will pay off when you can reap the rewards of a successful sale. Choosing a reliable and communicative local real estate agent can also help you come out on top when market conditions are tough.
Be prepared for challenges and setbacks in the home-selling process by planning ahead and being flexible with any selling expectations. But don’t be discouraged—take the necessary steps and you'll be able to thrive when selling in a buyer’s market.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2023-12-15T10:24:00-07:002023-12-18T13:12:03-07:00Justin Havretag:calgary.com,2012-09-20:18800What Is a House Showing? Sell Your Home Faster With 15+ Showing Tips<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/home-showing-tips.jpg" alt="Home Showing Guide: Tips For Showing Your Home to Sell Fast" width="475" />When it comes to selling your <a href="https://www.calgary.com/real-estate/">Calgary home</a>, the way it's shown to potential buyers can make all the difference. A well-presented home not only captivates the imagination of buyers but also helps them see its true potential as their future residence. The key to a fast sale lies in understanding how to showcase your home's strengths, minimize its weaknesses, and create an environment that appeals to buyers' senses and emotions. By following these strategies, you can ensure your home stands out, attracting more offers and possibly even a quicker, more profitable sale.<br /><br />Key Takeaways
Effective Listing Photos: If your listing isn't visually appealing, many buyers won't even consider showing up in person. High-quality, professional photographs are essential for captivating potential buyers even before they step foot in the property.
Flexible Viewing Schedules: Accessibility is key. Offering flexible viewing times increases the chances of a sale by accommodating more potential buyers.
Give Buyers Space: You yourself should not attend the showing, and your agent should have minimal involvement. Buyers prefer to discuss amongst themselves candidly, and this can be stifled by seller involvement.
Strategic Staging: Staging the interior and exterior of your home plays a crucial role in making a solid first impression. This includes decluttering, enhancing curb appeal, and arranging furniture to create a welcoming atmosphere.
Sensory Engagement: Appeal to all five senses during showings. This can involve everything from ensuring a pleasant scent and comfortable temperature to playing soft background music.
Continuous Feedback and Improvement: Actively seek and use buyer feedback from showings to make continuous improvements. This insight is invaluable for understanding buyers' perspectives and making necessary adjustments.
Online Listings: The Virtual Gateway to Your Home
In today's digital world, the first showing of your home happens online. It's crucial to create a compelling online presence that entices potential buyers to schedule an in-person visit. <a href="https://www.calgary.com/blog/professional-real-estate-photography/">Professional real estate photography</a> plays a pivotal role here. High-resolution images that highlight your home's best features can set your listing apart. These photos should showcase well-lit, clean, and organized spaces, giving viewers a virtual tour that piques their interest. Remember, a picture is worth a thousand words, and in the realm of home sales, it could also be worth thousands of dollars.
If you plan on selling in the winter, but have some lead time, have your real estate photos taken in the summer. This “<a href="https://www.calgary.com/blog/green-photography-when-is-the-best-time-to-take-real-estate-photos/">green photography</a>” presents a more inviting image on the listing pages than a home covered in snow. In addition, you can stand out by including some <a href="https://www.calgary.com/blog/drones-in-real-estate/">aerial drone photography</a>, particularly if you’re selling a large property.
Flexibility: The Key to Maximizing Viewing Opportunities
When selling your home, flexibility in scheduling viewings can be a game-changer. Buyers often have tight schedules, and being accommodating can mean the difference between a missed opportunity and a potential sale. Avoid stringent restrictions on advance notice requirements, as they can deter buyers who are viewing multiple properties in a day.
Be prepared to <a href="https://www.calgary.com/blog/showing-tips-for-your-next-open-house/" title="How to Get Ready Right Before a Showing">keep your home in showing-ready condition</a>—or at least within a very short tidy-up—at all times, and be ready to vacate your home at a moment’s notice, even when the timing is inconvenient. It’s a hassle, but the goal is to make viewing your home as convenient as possible, increasing foot traffic and, consequently, the likelihood of receiving an offer faster.
The Realtor's Role in Home Showings
While the presence of your selling agent during showings might seem beneficial, it can sometimes be counterproductive. Buyers prefer the freedom to explore and discuss the property candidly without the seller or their agent present. This creates a more relaxed environment for the buyers, allowing them to openly express their thoughts and visualize themselves in the space.
If your agent is highly involved, ensure they understand the importance of giving buyers space and are available to answer questions without being overbearing. And if you’re worried about buyers potentially missing something special about your home, communicate it to the buyer’s agent rather than attend the showing yourself.
One thing you can and should do is leave written notes, such as a pamphlet about the local area and note cards pointing out special features of the property, where to get refreshments during the tour, and other information.
First Impressions: Enhancing Your Home's Curb Appeal
<a href="https://www.calgary.com/blog/the-basics-of-curb-appeal-for-home-sellers/">Curb appeal</a> is your home's first chance to impress potential buyers. Simple yet effective landscaping, a well-maintained lawn, and a welcoming entrance can significantly boost your home's aesthetic appeal. Consider adding colourful flowers or greenery in tasteful planters and ensuring your lawn is neatly trimmed. Also, address any minor repairs or touch-ups that the exterior may need. A <a href="https://www.calgary.com/blog/painting-your-home-what-colors-should-you-paint/" title="What Colour Should You Paint Your Home?">fresh coat of paint</a> on the exterior or clean, clear windows can make a substantial difference. This attention to detail can set a positive tone for the rest of the viewing.
<a href="https://www.calgary.com/blog/how-neglecting-your-lawn-will-cost-you/">Neglected lawns will plummet your sale price</a>. Don’t let this be you.
Staging Your Home for Success
Interior <a href="https://www.calgary.com/blog/get-the-upper-hand-by-staging-your-home/">home staging</a> is about striking the right balance between lived-in and showroom-ready. Start by decluttering and depersonalizing; you want buyers to envision themselves in the space, not feel like they're intruding into someone else's life. Consider storing items off-site. If you simply hide everything in the cabinets when you’re <a href="https://www.calgary.com/blog/handle-the-clutter-in-your-kitchen-before-putting-your-home-on-the-listings/">decluttering your kitchen</a>, for example, you can bet buyers won’t be impressed when they inevitably open them up to investigate.
Once your home is decluttered, arrange furniture to maximize space and flow, and consider neutral tones for broad appeal. Pay special attention to key areas like the living room, kitchen, and master bedroom. Remember, the goal is to showcase your home's potential and help buyers see it as their future home.
For the best staging results, a professional stager can supply expert advice and even rental furniture to capture the imagination of buyers. However, it’s also entirely possible to stage your home using your existing furniture on a budget.
Atmosphere: Crafting the Perfect Home Ambiance
Creating the right atmosphere is essential for a successful home showing that <a href="https://www.calgary.com/blog/creating-an-emotional-buying-response-in-the-real-estate-market/">creates an emotional buying response</a>. This involves managing aspects like lighting, temperature, and overall ambiance. Open curtains to let in natural light and turn on additional lights in darker areas. Adjust the thermostat to ensure the home is comfortable, regardless of the weather outside—a showing is not the time to worry about the utility bill. Subtle touches like a lit fireplace or soft background music can enhance the ambiance, making your home feel warm and inviting.
Engage all of the buyer’s senses. Sight is catered to through clean, well-lit spaces and tasteful staging. Your home’s first impression will be sight, so be sure to pay attention to your home’s curb appeal.
Smell can be addressed by neutralizing pet odours (if you’re <a href="https://www.calgary.com/blog/selling-a-house-with-pets/">selling a house with pets</a>) and other unpleasant scents. Avoid overpowering fragrances. If a pleasant smell is too strong, buyers may wonder what you’re trying to cover up, or even experience headaches. Sometimes, simply opening windows for fresh air is best. Baking cookies or brewing coffee are also classic tricks.
Soft, ambient music can cater to hearing, enhancing the mood without being intrusive. You might also want to notify your neighbours that you’re showing your home and politely request that they avoid noisy projects for a short period of time.
Providing light refreshments can engage taste and make visitors feel more at home. If you’re using the cookies trick (or a similar one, such as simmering spices), be sure to allow your visitors to eat them!
Lastly, ensuring the home is pleasant to the touch—smooth countertops, plush carpets—can subtly add to a buyer's positive experience.
Sensory Engagement Tips
Sight: Clean, decluttered spaces; effective lighting.
Smell: Neutral scents, fresh air.
Sound: Soft background music.
Taste: Simple refreshments.
Touch: Clean, comfortable textures.
Learning from Feedback: Improving Your Showing Strategy
Gathering feedback from showings provides an invaluable resource. This information can provide insights into what buyers liked or didn't like about your home, allowing you to make adjustments for future showings. Whether it's a minor repair, a staging tweak, or addressing an overlooked detail, responding to feedback can significantly enhance your home's appeal and increase your chances of a successful sale next time.
Sell Your Home Faster With a Great First Impression
Effectively showing your home is an art that combines aesthetics, ambiance, and practical considerations to create an inviting and appealing space for potential buyers. By focusing on first impressions, both online and in-person, being flexible with viewings, and engaging buyers' senses, you can significantly increase your chances of a fast and profitable home sale. Keep in mind that continuous improvement based on feedback is key to refining your showing strategy and making your home stand out in the competitive real estate market.2023-12-14T08:55:00-07:002024-03-11T07:26:36-07:00Justin Havretag:calgary.com,2012-09-20:21248Calgary AB vs. Toronto ON: 10 Things to Know BEFORE Moving<img style="margin: 0 auto 20px auto; display: block;" src="/userFiles/4845/image/calgary-vs-toronto.jpg" alt="Comparing Calgary and Toronto" />
Choosing where to live among Canada's top cities significantly impacts daily life and overall happiness. Calgary and Toronto, the biggest cities in their respective provinces, offer distinct living experiences shaped by their unique climates and amenities. The <a href="https://www.calgary.com/real-estate/" title="Calgary Homes for Sale">city of Calgary</a>, known for its proximity to the Rocky Mountains and a more relaxed lifestyle, contrasts with Toronto's bustling urban environment and diverse cultural scene. Discover the key aspects defining the <a href="https://www.calgary.com/blog/calgary-lifestyle/">Calgary lifestyle</a> and the day-to-day in Toronto, helping you make an informed decision about your next home.
Is it Cheaper to Live in Calgary or Toronto?
From a simple dollars and cents perspective, there's no comparison: the <a href="https://www.calgary.com/blog/calgary-cost-of-living/">cost of living in Calgary</a> is significantly lower than in Toronto. Rankings frequently list Toronto as Canada's priciest city, while Calgary is typically among the least expensive of the country's major metropolitan areas. However, both are among the 150 most expensive cities worldwide.
Cost of Living
Overall, living costs are notably higher in Toronto than in Calgary. Housing makes up the most significant difference between the two. Citywide, the average home price in Toronto exceeds $1.1 million. Housing prices vary widely, but condos typically hover around $800,000, and modern estates can exceed $15 million.
Average prices in Calgary are about half that, at around $600,000. <a href="https://www.calgary.com/luxury-homes/">Calgary’s luxury homes</a> list from $1–$10 million and include everything from sprawling estates to high-rise condos, but there are much more accessible real estate categories in town. <a href="https://www.calgary.com/townhouses/">Townhomes in Calgary</a> list from the $200s to nearly $2 million, while the vast majority of <a href="https://www.calgary.com/calgary-condos-lofts/">Calgary’s condos</a> are priced from the mid-$100s to $2.5 million.
Rentals are also typically cheaper in Calgary, with two bedrooms averaging $2,200 per month, compared to a monthly rent of around $3,300 for Toronto. Beyond housing, other costs are also generally higher in Toronto than in Calgary, including transportation (gas and car insurance) and food from the grocery store and local restaurants.
Typical Salaries & Income
Naturally, residents' income plays a significant role in dealing with the cost of living. The most recent official numbers show Calgary's median household income at $100,000, slightly outpacing Toronto’s $97,000. This partly reflects Calgary's plentiful high-income jobs in the energy industry, while Toronto offers a more diverse economy with a broader range of typical salaries. Toronto also provides a higher minimum wage, $16.55 per hour, versus $15 hourly in Calgary. Both cities have seen steady growth in household incomes in recent years.
Provincial income taxes will affect residents differently, depending on their income. Those earning less than six figures annually typically pay a lower rate in Ontario, as will the highest earners making $220,000 or more. Those in the middle of this range will benefit from <a target="_blank" href="https://www.alberta.ca/personal-income-tax">Alberta's tax structure</a> instead.
How's the Weather in Calgary vs. Toronto?
<img src="https://assets.site-static.com/userfiles/4845/image/calgary-vs-toronto-weather.jpg" alt="What's the Climate in Calgary and Toronto?" style="display: block; margin: 20px auto;" />
There are some important differences in climate in these two top cities, much of it stemming from the differences in latitude between them. Toronto is several hundred kilometres further south than Calgary, typically producing a warmer and milder overall climate partially influenced by the Great Lakes. This location also leads to higher humidity levels in Toronto than in relatively dry Calgary.
Summer high temperatures are similar (typically falling between 20℃–24℃), though Calgary has notably colder winters (in the negative teens Celsius versus negative single digits Celsius in Toronto). The cold, however, doesn’t keep residents and visitors away from <a href="https://www.calgary.com/blog/calgary-winter-festivals/">Calgary’s great winter festivals</a>!
Toronto also receives more rain than Calgary, known as one of the sunniest cities in Canada due to the number of clear days. While Toronto can experience significant lake-effect snowfall, Calgary still receives more on average. However, Calgary is also known for the Chinook winds that affect Alberta and other parts of western Canada, which provide a warming draft of air that can often quickly melt fallen snow.
Which is Bigger: Calgary or Toronto?
The numbers are clear: Toronto is the largest city in Canada, with nearly three million residents. That's not to suggest Calgary isn't also a large city, earning its spot as Canada's third most-populated with more than 1.3 million residents. However, those living in Calgary have a bit more elbow room, as the city spans nearly 320 square miles compared to Toronto's 244 square miles. It’s much easier to find <a href="https://www.calgary.com/acreages/">homes with acreage in Calgary</a> than in Toronto.
In general, those looking for the perks of big-city life, like a strong economy, convenient transportation, and plentiful amenities and attractions, can find what they're looking for in either location. However, people looking for specific elements of culture, art, entertainment, and other more niche factors will likely find a wider diversity among Toronto's larger population.
Finding a Job in Calgary vs. Toronto
<img src="https://assets.site-static.com/userfiles/4845/image/calgary-vs-toronto-jobs.jpg" alt="Job Market in Calgary vs. Toronto" style="display: block; margin: 20px auto;" />
Job seekers won't have to look too far in either city, as both are among the country's most thriving local economies. Unemployment is slightly lower in Calgary, close to Canada's nationwide average. Toronto is slightly above this level. As a large international city, Toronto offers positions in nearly any field imaginable. Financial services, tech, and media are among the most dominant industries, alongside thriving healthcare and education fields.
On the other hand, Calgary's economy has historically focused on the energy industry, thanks to Alberta's extensive oil and gas reserves. Energy companies are a major player in the local job market, though opportunities are also available in agribusiness and logistics—especially in <a href="https://www.calgary.com/downtown-commercial-core-real-estate/" title="Homes for Sale in Calgary's Downtown Commercial Core">Calgary’s Downtown Commercial Core</a>. These fields continue to grow due to Alberta's plentiful open space and strategic location in the country. Tourism is also a big job creator in both areas, with many visitors coming to see Canada's largest city or explore the gorgeous Canadian Rockies from Calgary.
Getting Around in Calgary vs. Toronto
Depending on how potential residents plan to get around and where they're going, both Toronto and Calgary offer some advantages and drawbacks when it comes to transportation. Generally speaking, it's vital to remember Calgary's potential for worse winter weather, which can affect various modes of transportation in different ways.
Public Transportation
Both Calgary and Toronto offer some of the country's best public transit networks, but Toronto comes out on top in a head-to-head comparison. Those living in <a href="https://www.calgary.com/city-centre-condos/">Calgary City Centre condos</a> have tremendous public transit access, as does anyone living in Downtown Toronto.
The Toronto Transit Commission (TTC) operates a vast, high-frequency network of buses, streetcars, and underground subways. These span the city proper and the sprawling Greater Toronto Area, including connections to other regional agencies like GO Transit.
<a target="_blank" href="https://www.calgarytransit.com/content/transit/en/home/home.html">Calgary Transit</a> offers both bus and rail service, though across a smaller service area. Instead of an underground subway, residents and visitors can use above-ground light rail. Service can be less frequent than in Toronto, as well. Both are relatively affordable, at $3.70 for a single adult ride in Calgary and $3.35 in Toronto. However, each system also offers daily, weekly, or monthly passes that help regular riders save money.
Additionally, each city also offers bike-share programs and extensive bike lanes and paths, as well as easily available taxis and ride-hailing services like Uber and Lyft.
Driving & Traffic
Toronto's big-city sprawl and high population naturally contribute to worse traffic than smaller, less dense Calgary. In fact, Toronto is known to have the worst traffic in the country. Despite its prominence and size, Calgary still only has Canada's 10th worst traffic. The difference adds up to nearly 90 hours per year—the equivalent of two full weeks of work spent in extra traffic.
The nature of the roads themselves is also important, whether it’s in the Greater Toronto Area or in <a href="https://www.calgary.com/blog/best-neighbourhoods-calgary-ab/">Calgary’s best neighbourhoods</a>. Toronto's streets are arranged in a relatively orderly grid, while Calgary's can be more confusing to navigate, especially for new residents. However, Toronto drivers will also need to watch out for streetcars, which share lanes with cars in some areas. In addition, parking can be more challenging or expensive in Toronto.
Does Calgary or Toronto Have Better Things to Do?
<img src="https://assets.site-static.com/userfiles/4845/image/calgary-vs-toronto-activities.jpg" alt="Activities in Calgary vs. Toronto" style="display: block; margin: 20px auto;" />
Both Toronto and Calgary have plenty to keep residents busy and entertained. However, which one is best may come down to personal taste. Here's what each has to offer.
Outdoor Activities
As far as major cities go, both Toronto and Calgary have plentiful and high-quality ways to enjoy the outdoors. Calgary is beloved for its proximity to the breathtaking Rocky Mountains and the wide open spaces of the Canadian Prairies. Its smaller size and less developed surroundings make it a top choice for those who love getting away from the hustle and bustle, and there’s no better way to enjoy the city than hanging out at <a href="https://www.calgary.com/blog/which-parks-are-the-best-in-calgary/">Calgary’s best parks</a>. Meanwhile, Toronto provides easy access to Lake Ontario, the other Great Lakes, and the vast wooded areas of Ontario and Quebec.
They also each offer extensive green space within town, like Toronto's High Park or <a target="_blank" href="https://www.calgary.ca/parks/princes-island-park.html">Prince's Island Park</a> in Calgary. In addition, Calgary residents can enjoy the unique Winsport facility, part of the city's Olympic heritage from the 1988 games, now a top spot for ski jumping, mountain biking, and other outdoor fun. Toronto also has one-of-a-kind outdoor experiences, like hopping a ferry to Centre Island and spending the day kayaking around the waterways, with spectacular city views close by.
Arts & Culture
In many ways, Toronto is the cultural capital of Canada. The large city, known as one of the most diverse and multicultural anywhere in the world, is home to countless museums, art galleries, live entertainment, and much more. Some of the most notable include the <a target="_blank" href="https://www.rom.on.ca/en">Royal Ontario Museum</a>, the Art Gallery of Ontario, and the Hockey Hall of Fame. In addition to a wide variety of music venues and live theatre spots, residents can shop for authentic local products at the historic St. Lawrence Market or stroll through the revitalized Distillery District, a popular shopping, dining, and entertainment area.
That's not to say there's no cultural scene in Calgary. There are educational spots like Glenbow Museum and TELUS Spark Science Centre, as well as extensive public art. However, there's no bigger event around town than the Calgary Stampede, a yearly rodeo and Western festival that draws tens of thousands of visitors each summer. Many plan vacations around the event every year thanks to the bounty of <a href="https://www.calgary.com/blog/best-things-to-do-during-the-calgary-stampede/">things to do during the Calgary Stampede</a>. Calgary’s summer festivals range from the dynamic Lilac Festival to events focusing on musical styles from jazz and blues to country, folk, EDM, and others.
Both cities are good choices for those who love live professional sports. Toronto is home to the NHL's Maple Leafs, the NBA's Raptors, MLB's Blue Jays, and the CFL's Argonauts, among others. Calgary hosts the NHL's Flames, who play near the <a href="https://www.calgary.com/ramsay-real-estate/" title="Ramsay Homes for Sale">Ramsay neighbourhood</a>, and the CFL's Stampeders, whose stadium is located adjacent to the <a href="https://www.calgary.com/banff-trail-real-estate/" title="Banff Trail Homes for Sale">Banff Trail community</a>.
Food & Nightlife
Toronto also edges out Calgary regarding the size and diversity of its dining and nightlife. It's home to several of the top restaurants in the nation, including the modern French fare of Alo or the uniquely Canadian seasonal menu of Edulis. The city's diverse residents lead to a similarly varied restaurant scene, including extensive Indian, Greek, Italian, Middle Eastern, and other international and fusion cuisines. There's also a nearly limitless number of bars, clubs, lounges, and other nightlife spots, particularly in the Entertainment District, Queen Street West, King Street West, and The Annex.
While Toronto has a higher number of top restaurants, Calgary is also home to many of its own. Calgary is known for the quality Alberta beef found at higher-end restaurants like Caesar's Steak House & Lounge, located in the exclusive <a href="https://www.calgary.com/eau-claire-real-estate/" title="Eau Claire Homes for Sale">Eau Claire neighbourhood</a>. The city also has a thriving Vietnamese food scene, including spots like Pho Dau Bo Restaurant. Nightlife can be found throughout the city, with the 17th Avenue Southwest corridor home to some of the best options, along with the Inglewood and Kensington neighbourhoods.
Calgary or Toronto: Choosing a Dynamic Canadian City
Calgary and Toronto each present unique attributes that cater to different preferences and lifestyles. Calgary's natural beauty and slower pace offer a serene backdrop for those seeking tranquillity, while Toronto's vibrant urban life and cultural diversity attract those craving a dynamic city experience. Understanding these differences is crucial for anyone considering relocating to either city. The decision ultimately hinges on personal priorities, whether they lean towards the majestic landscapes of Calgary or the bustling streets of Toronto.
2023-12-12T10:56:43-07:002023-12-12T11:11:32-07:00Justin Havretag:calgary.com,2012-09-20:186664 Tips for Selling a House with Pets at Home: Cleaning & Showing Strategies<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/selling-home-with-pets.jpg" alt="Tips for Selling a Home With Pets" width="475" />While you may love your pets with all your heart, not everyone likes animals. Trying to sell a home with a pet can be a challenge, but it doesn't have to be—knowing the right tips and tricks can make the process much easier. Understanding why signs of pets might turn some buyers off is the first step to success, and then it's just a matter of keeping everything clean and ready for showings. With the right preparation, your home can be sold both to pet owners and those without.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.<br /><br />Why Can Pets Be an Issue for Buyers?
Potential buyers may be put off by the presence of pets when viewing a home. If they're roaming free, the pet's behaviour can be a distraction and may even cause a disruption. Even if they're not visible, the smell of pet odours, or worse, pet accidents, can be off-putting to buyers who may not have pets of their own.
Additionally, the presence of a pet can be a safety concern, especially with certain breeds; some buyers may be allergic to dogs or cats, or simply not be comfortable with the presence of pets. For these reasons, it is important to be aware of what pets may be present during showings and how home buyers may perceive them.
There's also <a href="https://www.calgary.com/blog/ways-to-help-market-a-home-for-sale/">home's marketing</a>. While many people will be glad to hear about amenities like a fenced yard or mudroom, if the listing focuses too heavily on it being a pet-friendly home, it lets everyone—including those uncomfortable with pets—know there's likely been pet-related damage to the home over the years.
Steps for Selling a Home with Pets
Selling your home with pets requires some extra steps to ensure that buyers are not put off by odours or damage. To prepare your home for showings and ensure it's marketable, it's important to remove or repair any damaged items, deodorize and clean all areas, and have a plan for showings.
Talk to Your Real Estate Agent
The first thing you need to do is get in communication with your agent. Find out what the common handling is for people that are selling a house with pets. If you have small caged animals like bunnies or hamsters this is usually not a problem, but if you have a cat or dog, this can raise a few concerns when you are selling your house. Your real estate agent will let you know how they personally handle these situations.
Remove or Repair Items with Pet Damage
Homeowners should assess all areas of their house for signs of pet damage. This includes pet-chewed furniture, stained carpets, and scratched doors or floors. Some items like cushions are easily repaired, but others like a wooden chair might need to be replaced entirely. Even if you've gotten used to seeing the damage, it'll likely be one of the first things a buyer sees when they enter your home.
Don't forget the outdoors, as holes dug by your pet or any damage to plants or grasses will also stand out. This is especially important in the front yard, as it's among the first things visitors notice when arriving.
Remove Pet Odours & Deep Clean Stains
The next step is to remove odours and <a href="https://www.calgary.com/blog/living-with-pets/">clean the home</a>. Start by vacuuming carpets, upholstery, and curtains to remove pet hair, dirt, and odours. Wash bedding and dog beds, and clean all pet-related items like food dishes, litter boxes, and toys—though note that you'll want to have these out-of-sight come showings. Open windows to allow fresh air to circulate throughout the home and air fresheners and scented candles in strategic locations can also help.
Cleaning should be done regularly during the selling process to remove all evidence of pets—or as much as you can. You can always consider hiring a professional cleaner to get the job done quickly and efficiently.
Have a Plan for Pets During Showings & Open Houses
One of the most important things to remember when selling a home with pets is to have a plan for when your real estate agent is going to show your home. If possible, it would be best to have the pets out of the house entirely. That way, they won't be alarmed by strangers, and potential buyers who are uncomfortable with pets won't be driven away.
If a pet has to stay in the home, inform any visitors that there are pets living in the house. Have a designated area where the pet can go when potential buyers are viewing the home, and put away food bowls, kennels, and toys so that it's easier for buyers to forget the pet is there.
What About Loud Neighbourhood Dogs?
Potential buyers may be just as concerned about neighbour's dogs as they are about the pets living in the home. No one wants to hear constant barking, after all. If your neighbour's dog barks a lot, you can ask your neighbour if they can keep the dog inside when you know you have showings. You can even offer to pay for a dog walker or doggy daycare.
If nothing else, do what you can to reduce the noise heard in your home. Keeping windows closed and having white noise like fountains or quiet background music are some simple ideas. While this may help during showings and <a href="https://www.calgary.com/blog/showing-tips-for-your-next-open-house/">open houses</a>, you shouldn't lie to buyers if they ask about neighbourhood dogs barking.
Preparing to Sell a House With Pets
While selling a house with pets at home creates more things to be aware of, following the tips and tricks outlined can help make the process easier. Taking the time to address any potential pet-related issues with the home can help set a successful sale in motion. With the right preparation, home sellers can create a smooth, stress-free experience for everyone involved—even buyers who aren't pet owners themselves.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2023-12-11T13:15:00-07:002023-12-18T12:55:43-07:00Justin Havretag:calgary.com,2012-09-20:18897When's the Best Time to Sell Your Home? 3 Things to Help You Know When to Sell
<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/time-to-sell-home.jpg" alt="Tips for Selling in a Buyer's Market" width="475" />How do you know when the timing is right to put your home on the market? This is a loaded question and is definitely one of the most commonly asked questions of all time when it comes to real estate. The answer is really a simple one. There could be a buyer looking for your home during any season of the year so the best time to sell is really any time—sometimes people make the mistake of waiting for the "right time" and then aren't able to recognize it when it arrives.
While there is no hard and fast rule as to the timing of selling your home, here are a few things you can consider to help you decide whether the timing couldn't be better right now or whether you should be waiting a bit to add your home to the listings.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
Real Estate Market Conditions
There are always going to be various cycles happening in the real estate world, especially here in Calgary. With so much growth happening in the city, it can be difficult to find the right wave to jump on. Even when the current market conditions suggest either a seller's or a <a href="https://www.calgary.com/blog/what-to-expect-when-selling-a-home-in-a-buyers-market/">buyer's market</a>, you can be sure that there are homes out there in great locations that are reasonably priced and showing well.
That said, the principle of supply and demand still plays a large role in the real estate industry. When there are more properties for sale than there are buyers (too much supply and not enough demand), then prices will decrease until the demand equals the supply and the market levels out. Conversely, if there are more buyers than homes (limited supply and high demand) then prices will rise until the demand begins to fall and level off.
Timing is a critical factor in determining the amount of money you can expect to get for your home. It is important to note that we are discussing a free, “no labour required” way to add thousands to the price of your home. Before figuring out when we should sell, we need to understand the two primary factors that will determine how effectively you can maximize your return in regards to timing: motivation and competition.
Seller Motivation
This concept is very simple to understand. When your motivation to sell is high, you will be willing to accept a lower price in order to close a transaction more quickly. However, when your motivation is low, people will have to pay a premium to buy because you “don’t have to sell." For example, if you are about to be foreclosed on by a bank, then you will likely take less for your home just to get yourself out of the debt.
Housing Competition
A buyer who does their homework will look at all the similar homes in a neighbourhood and choose the home that best fits their needs and provides the most value for their dollar. If you have two similar homes, one is $360,000 and one is $370,000...which one would you buy (all else being the same)? The competition in your neighbourhood will dictate how much you can reasonably ask for your home.
If there are lots of homes similar to your own, then you will have to price your home competitively to ensure that it sells in a reasonable amount of time. If possible, wait until your home is one of the only ones like it on the market. If a buyer doesn’t have any options, they will have to pay your price to own your home.
Interest Rates
<a href="https://www.koho.ca/learn/how-do-interest-rates-affect-my-mortgage/" target="_blank">Interest rates</a> are one of the most important factors when buying a home. If rates are low, people are more likely to jump into the market. In general, it's difficult to predict when rates will rise or fall, so it's important to pay attention to the numbers and general state of the economy.
Time of the Year
Who wants to move or be in transition during Christmas? Would you like to haul furniture when it's snowing? Well, not many people like moving or buying during fall and winter. Conversely, when spring arrives, everyone thinks it is time to make a change in their living arrangements. Also, people with kids need to be settled before September 1 for the start of school.
So what does this all mean? There are a lot more buyers on the market in the spring and early summer. You want to sell when people are buying and buy when people are selling. If you want to sell quickly, the spring and early summer are by far the best times to have your home on the market, though <a href="https://www.calgary.com/blog/fall-real-estate-tips/">selling in the fall</a> or winter are also fine options if they work better for you.
Spring
Spring is always a great time to list your home. There are a lot of eager buyers who have been waiting for the winter months to pass in order to start their home shopping in the spring. If you're looking to buy as well, you can take advantage of the increased motivation of sellers when the buying activity decreases to get a lower price. Sell your home in the spring, and ask for a very long possession date into the late summer or fall. However, if you shoot for the moon on your price, you will find your home among the thousands of over-priced listings that go stale in the fall as the buyers disappear.
Summer
There are other things to consider, however, when selling your home at different times of the year. For example, if you have children, selling your home during the summer months when they are at home enjoying the summer holidays can be more difficult. But the great thing about showing your home in the summertime is you can show off your garden if you happen to have a green thumb and can discuss summer-related amenities such as living close to a swimming pool, tennis court or even a lake.
Winter
Despite the comments earlier about selling in winter, there can be benefits. There are usually fewer people looking for a home in the winter, but you'll find that viewers are often more likely to be serious buyers. The most motivated sellers and buyers are usually actively searching the market in the winter, which may work to your advantage.
Selling in the winter does come with some disadvantages since it's hard to keep up with the salt, snow and mud that will be getting tracked through your home. You also won't be able to show off your lovely landscaping at this time of year. Your beautiful leafy tree in the front yard will be sitting empty and barren during the cold months. The best way to handle this is to provide some <a href="https://www.calgary.com/blog/green-photography-when-is-the-best-time-to-take-real-estate-photos/">green pictures</a> to your real estate agent of the house and how it appears in the summertime.
Should You Sell First or Buy First?
Can you financially support selling and buying a new residence? There are quite a few different costs involved in selling the home you currently have and then buying a new one. You'll want to consider all the costs of selling and if you don't have a good idea of what all these costs are you should contact a real estate agent for more information. There is a standard rule, common throughout the real estate, that says you should sell first and for good reason.
Here’s a scenario: You find a home that you would like to purchase, and you write the contract subject to selling your home in the next 30 days. The seller doesn’t like accepting this special clause in the offer, but agrees to it if you pay $5,000 more. For the peace of mind of not being stuck with two homes, you agree. Now you are selling, however, you are two weeks into the listing and starting to get nervous.
Finally, a lowball offer comes in and you negotiate price, but settle for less than you wanted because you really want the other house and have to sell your current home to pay for it. On both sides of the transaction, you may have lost a total of $15,000 ($5,000 on the buying end and $10,000 on the selling end).
If you sell your home first, you will always be in a power position, as you don’t "have to" sell. This way, you can wait as long as you need for an offer that is acceptable to you. In addition, when you decide to buy you can write an offer with fewer conditions, and have the ability to match possession dates for your convenience.
In normal marketplaces, selling first will give you the edge in negotiations to save thousands. But if you are looking for an uncommon home or if the market is very low on listings, you may want to consider buying first. Give yourself enough time on the possession date to sell your home without too much pressure. In addition, speak with your bank about bridge financing in case you need to carry two mortgages temporarily.
So, When Should You Sell Your Home?
No matter what time of year it is, it may be the perfect time to sell a home as long as it is priced right. There are disadvantages and advantages to selling at any time of the year. Knowing how to handle these pros and cons and making them work for you can lead to a faster and easier sale.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
2023-12-11T10:56:00-07:002023-12-21T11:12:42-07:00Justin Havretag:calgary.com,2012-09-20:21187Calgary AB vs. Montréal QC: Which City is Right For You?<img style="margin: 0 auto 20px auto; display: block;" src="/userFiles/4845/image/calgary-vs-montreal.jpg" alt="Comparing Calgary and Montréal" />
Choosing between living in the <a href="https://www.calgary.com/real-estate/" title="Calgary Homes for Sale">city of Calgary</a> and Montréal boils down to a choice between two beautiful and dynamic Canadian cities. Taking a deep dive into the unique aspects of life in both cities, from the climate and cultural offerings to the economic landscape and lifestyle opportunities, is a great starting point. Calgary, known for its proximity to the Rockies and vibrant energy sector, contrasts with Montréal's rich history and bilingual charm. Understanding the nuances of each city helps in appreciating what they uniquely offer, providing insights for those contemplating which one aligns best with their personal and professional aspirations.
Is it Cheaper to Live in Calgary or Montréal?
Living in Montréal tends to be less expensive than living in Calgary, but Calgary residents may find their money goes further with higher incomes, fewer taxes, and larger homes.
Cost of Living
At an estimated $2,100 per month for one person, the <a href="https://www.calgary.com/blog/calgary-cost-of-living/">cost of living in Calgary</a> leans slightly higher than Montréal, which comes in at around $1,800. But in some cases, money can stretch a little further in Calgary.
Housing is considerably less expensive in Montréal than in Calgary. Single-family homes in Calgary range from just south of $300,000 to nearly $10 million. Meanwhile, <a href="https://www.calgary.com/townhouses/">townhomes in Calgary</a> list from around $200,000 to nearly $2 million. <a href="https://www.calgary.com/calgary-condos-lofts/">Calgary's condos</a> offer the cheapest point of entry, listing from the mid-$100s, but luxury downtown condos can soar to $10 million.
Out east, a single-family home in Montréal ranges from around $400,000 to multi-million sprawling estates. Condos and townhouses follow a similar pricing trend.
Rent is considered more affordable in Montréal, too, with a one-bedroom offered for around $1,700 versus Calgary's $1,850. However, the average price per square metre is significantly better in Calgary, especially in the city centre, where residents can expect to pay about half per square metre versus Montréal.
Finally, Calgary also has fewer taxes because it is part of Alberta, which has the lowest provincial tax rate nationally and no land transfer tax.
Typical Salaries & Income
Calgary boasts some of the highest incomes in the whole country, but Montréal offers relatively high salaries, too.
The average pre-tax household income in Canada is just over $90,000. Calgary and Montréal both offer significantly higher paying jobs, but Calgary edges out Montréal with a slightly higher average household income.
Examining the after-tax income can provide a better picture of how much spending money a household has. According to the StatCan Census, Calgary had the highest median household after-tax income in Canada.
How's the Weather in Calgary vs. Montréal?
Montréal experiences a wider range of temperatures than Calgary, with warmer summers and wetter, snowier winters.
Although Montréal can get colder than Calgary, with occasional temperatures around -20℃, its colder periods are generally shorter. Calgary's temperatures average around -10℃ to -15℃ throughout winter, while Montréal's are around -5℃ to -10℃. <a href="https://www.calgary.com/blog/weekend-vacation-spots-near-calgary/">Calgary's winter weekend vacation spots</a> are doubly appealing thanks to the city's prairie setting, which produces drier winters that can feel less chilly than Montréal's damp cold.
Calgary also experiences less snowfall annually than Montréal. Luckily, Montréal has developed an extremely effective snow removal program to counter the weather. On the other hand, Calgary gets coastal Chinooks from the Rockies, which melt the snow and give a sense of spring in the middle of winter.
Do You Have to Be Bilingual in Montréal?
<img src="/userFiles/4845/image/bilingual.jpg" style="width: 100%; margin-bottom: 20px;" alt="Do You Need to Speak French to Live in Quebec?" />
While most Montréal residents are bilingual, it's not a necessity, although French speakers will likely find it easier to integrate into the culture than anglophones.
Of the workers in the Montréal census metropolitan area, 80% were at least bilingual. Meanwhile, closer to 70% were English-French bilingual, and nearly 30% were trilingual.
While Montréal has many English speakers and even some Anglo enclaves, French is still the dominant language, especially for business. In fact, 70% of workers primarily used French at work, compared to around 20% who primarily used English and even fewer used English and French equally. French is used more in some industries than others, spoken by:
80% in health care and social assistance
60% in finance and insurance
56% in information and cultural industries
56% in professional, scientific, and technical services
The Government of Québec offers free French courses for adults, which can improve one's social and economic opportunities.
Which is Bigger, Calgary or Montréal?
Calgary and Montréal are among Canada's three most populous cities, but Montréal has a larger, more densely concentrated population.
Montréal is the second most populous city in Canada, with around 1.8 million residents. Calgary was not far behind, with a population of 1.3 million. However, Montréal is considerably denser than Calgary, with an area of around 400 square kilometres compared to Calgary's 820. This translates to a feeling of more breathing room in Calgary, even in its<a href="https://www.calgary.com/blog/best-neighbourhoods-calgary-ab/" title="Best Neighbourhoods in Calgary"> best neighbourhoods</a>.
Both Calgary and Montréal offer all the benefits typically associated with a large city, but Montréal has a more famous cultural scene.
Finding a Job in Calgary vs. Montréal
While Montréal boasts a lower unemployment rate, Calgary offers more than twice the number of jobs. Both cities have thriving STEM and financial sectors.
Montréal has an unemployment rate of around 6%. With over 70,000 jobs available, the city enjoys the fastest job growth rate in the country. Montréal's key sectors include aerospace, IT services, software development, clean technology, artificial intelligence, life sciences and health technologies, cybersecurity, and others.
Meanwhile, Calgary's unemployment rate sits around 7%, with just under 190,000 jobs available in the city. <a href="https://www.calgary.com/city-centre-communities/" title="Homes for Sale in Calgary City Centre">Calgary's City Centre</a> is the economic and job centre hub, and the city's economy relies primarily on its aerospace and logistics, agribusiness, energy, and technology industries. The city also offers tax incentives for businesses in key sectors like tourism, health innovation and research, and green technology and energy.
Getting Around in Calgary vs. Montréal
<img src="/userFiles/4845/image/transportation.jpg" style="width: 100%; margin-bottom: 20px;" alt="Transportation Options in Calgary vs Montréal" />
While Calgary experiences less traffic than Montréal, both cities offer excellent public transportation, numerous bike paths, and pedestrian walkways.
Montréal and Calgary boast hundreds of kilometres of bike paths, and Montréal even has an annual bike festival. As for pedestrians, <a href="https://www.calgary.com/downtown-real-estate/" title="Downtown Calgary Homes for Sale">Downtown Calgary</a> offers the Plus 15 enclosed walkway system, while Montréal features several permanent and seasonal pedestrian streets.
Public Transportation
Calgary and Montréal both have robust public transportation networks with quick and affordable service, but Montréal's is generally more expensive.
Public transportation is the best way to get around Calgary. <a target="_blank" href="https://www.calgarytransit.com/content/transit/en/home/home.html">Calgary Transit</a> offers light rail and bus services across the city, with single-ride and day passes available. The CTrain is free downtown. Patrons can even bring their pets, provided they are leashed or in a carrier or cage.
The Société de transport de Montréal (STM) operates buses, trains, and a métro system with four lines connecting downtown Montréal to major tourist sites, bus stops, and train stations. The métro runs daily, with different operating hours on weekends versus weekdays. STM divides its service area into several zones for pricing purposes. Patrons can purchase daily passes with passes also available.
Driving & Traffic
While Calgary experiences less traffic than Montréal, Montréal offers a familiar grid layout and more consistent parking options.
Using floating car data from various sources to determine which cities experience the most traffic, the TomTom Traffic Index ranked Calgary #268 globally and #10 in Canada, and Montréal #80 globally and #4 in Canada.
Calgary drivers spend about 110 hours driving yearly, with an average travel time of 12 minutes and 40 seconds per 10 kilometres. The morning rush around 8:00 a.m. adds three minutes per 10 kilometres, while the evening rush from 3:00–6:00 p.m. adds five minutes.
Meanwhile, Montréalers spend about 180 hours driving yearly at an average rate of 18 minutes and 50 seconds per 10 kilometres. Montréal's morning and evening rushes tend to last longer and be more intense, with the morning rush from 8:00–10:00 a.m. adding eight minutes per 10 kilometres and the evening rush from 2:00–6:00 p.m. adding 12 minutes.
Does Calgary or Montréal Have Better Things to Do?
<img src="/userFiles/4845/image/banff-national-park.jpg" style="width: 100%; margin-bottom: 20px;" alt="Fun Things to Do in Calgary vs Montréal" />
As large cities, Calgary and Montréal both feature plenty of things to do, but Calgary tends to have better recreational opportunities, and Montréal boasts more impressive cultural and nightlife scenes. <a href="https://www.calgary.com/blog/calgary-winter-festivals/">Calgary's best winter festivals</a> are can't-miss events, while Montréal's museums are wide-ranging and plentiful.
The Flames, Stampeders, Roughnecks, and Cavalry FC are the teams that make up the brunt of the <a href="https://www.calgary.com/blog/calgary-sports-guide/">sports in Calgary</a>, though Montréal has the Canadiens, Alouettes, and CF Montréal.
Outdoor Activities
While both cities offer excellent recreational opportunities year-round, <a href="https://www.calgary.com/blog/which-parks-are-the-best-in-calgary/">Calgary's best parks</a> are large and varied, and the city benefits from proximity to the Rockies.
Calgary boasts over 8,500 hectares of parkland and natural areas, including the world's two largest urban parks, <a href="https://albertaparks.ca/parks/kananaskis/fish-creek-pp/" target="_blank">Fish Creek Provincial Park</a> and West Nose Creek Park. The city is also just over an hour east of Banff National Park, home to serene lakes, relaxing hot springs, and the majestic Rocky Mountains. <a href="https://www.calgary.com/blog/the-best-calgary-dog-parks-by-quadrant/">Calgary's neighbourhood dog parks</a> are spread throughout the city for canine residents.
These parks provide the perfect backdrop for hiking, mountain biking, skiing, and horseback riding. Calgary is also great for water sports like rafting along the Bow River Weir rapid system, swimming at Sikome Lake, or sailing, canoeing, and kayaking at the Glenmore Sailing Club.
Meanwhile, Montréal features over 2,000 hectares of parks and Space for Life, a complex featuring the world-renowned botanical gardens, an insectarium, and Biosphère, a unique museum focused on the environment.
With the St. Lawrence River surrounding Montréal, the area is excellent for kayaking, canoeing, whitewater rafting, boating, and fishing. Residents can also reach over a dozen ski hills, including Mont-Tremblant, in just over an hour.
Arts & Culture
Calgary and Montréal have an abundance of cultural attractions, from art galleries and museums to theatres and festivals, but Montréal tends to offer even more options.
Calgary is known for its festivals. The city boasts year-round celebrations ranging from one of <a href="https://www.calgary.com/blog/where-are-the-best-summer-festivals-in-calgary/">Calgary's best summer festivals</a>, the Lilac Festival, to the Calgary International Film Festival in the fall. Attractions like Heritage Park and Fort Calgary and museums like Glenbow delve into Calgary's rich history, while local theatres and symphonies put on contemporary performances.
Meanwhile, Montréal boasts dozens of theatres, art galleries, and museums, including the Montréal Museum of Fine Arts, the Canadian Centre for Architecture, and the Cinéma du Musée. Cobblestone pathways in Old Montréal welcome visitors to step back in time as they pass historic sites like the Notre-Dame Basilica. Montréal also hosts its fair share of festivals, like the Mural Festival, Montréal International Film Festival, and Just For Laughs.
Food & Nightlife
Montréal has more world-class restaurants and better nightlife destinations, but <a href="https://www.calgary.com/blog/where-are-the-best-breakfast-restaurants-in-calgary/">Calgary's best breakfast restaurants</a> and global culinary options give Montréal a run for its money.
Over 120 cultures contribute to Montréal's culinary scene, featuring over 5,000 restaurants. The city has produced several famous dishes, including poutine, the Montréal-style bagel, and smoked meat from Schwartz's Deli. Montréal also has numerous microbreweries, an elaborate natural wine scene, and a vibrant nightlife centred on St. Laurent and Rue St. Denis.
Meanwhile, Calgary originated ginger beef and the Caesar cocktail, with classic versions and new twists on the drink available at bars and restaurants across the city. Many Calgary restaurants also use high-quality Alberta beef, providing the city with excellent steakhouses and numerous eateries with delectable shawarma and donair.
Is Calgary or Montréal Your Future City?
Comparing life in Calgary and Montréal unveils two urban communities, each with its own appeal. Calgary offers a blend of outdoor adventure and a dynamic economy, while Montréal is celebrated for its cultural vibrancy and historical richness. Choosing between these cities is not just about geographical preference but also about aligning with each city's distinct lifestyle. Both Calgary and Montréal offer unique experiences and opportunities, making them attractive options depending on individual preferences for city living in Canada.
2023-12-07T10:09:50-07:002023-12-12T12:02:23-07:00Justin Havretag:calgary.com,2012-09-20:187646 Things to Know About Home Inspections: Benefits of Inspections & What to Expect<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/home-inspection-benefits.jpg" alt="What to Know About Getting a Home Inspection" width="475" />The vast majority of home buyers make their offer contingent on the property passing an inspection. However, home inspections may not only vary from neighbourhood to neighbourhood but also from inspector to inspector. Someone <a href="https://www.calgary.com/blog/understanding-the-home-buying-process/">purchasing a home</a> who understands the main objectives of each inspection will have a better chance of getting the information they need to make a decision than those don't.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
The Benefits of Home Inspections
A home inspection is an important part of owning, selling or buying a property. Contrary to what many think, this assessment should be carried out routinely and not just when you are going to buy or sell a home. There are a number of good reasons for getting a home inspection, including the need for a maintenance report, a new building project, or selling your home.
People have different reasons for requesting a home inspection. Many call in an inspector every few years to check their homes. This routine allows the owner to deal with home safety concerns as well as plan a repair schedule for current damages. The information offered is also valuable for analyzing the current value of a property.
Buyer Benefits
Buying a new home can be quite an undertaking. A home inspection gives you a clear picture of the property you're about to purchase. Before signing any legal documents, make sure you are well-informed of all underlying property issues. Faults on any property can be used as bargaining points to the buyer's advantage.
Seller Benefits
Property sellers can also use a home inspection to their advantage. It offers the seller more marketing power when they discover property liabilities and then fix them before buyers can use them as a negotiating tool. This also attracts potential buyers since nobody wants to purchase a defective property.
There are many types of inspections that you can perform in a home, but you should keep in mind that this process does not act as a guarantee for the home's future condition. It is a report offered on the home in its present state only.
What Does a Home Inspector Look At?
The goal of a home inspection is to make sure that the home adheres to all government regulations and is safe to live in. The question is: what exactly do home inspectors look for when they examine a house?
Make sure you spend time reading and understanding the contract before the inspection. This is very important because the contract will detail what the inspector will be looking for and the requirements they must follow.
Exterior Elements
Home inspectors will examine the outside of the house to get a better idea of its stability and overall condition. From major structural damage to flaking paint, a good inspector will note it all in their report. Even if the home hasn't sustained specific damage, the foundation or structure may have shifted over time. Inspectors include the following elements in their search:
Roof
Porch
Walls
Foundation
Floor sills
Joists
Internal Elements
Inspectors will check the entire interior of the home, including the electric panels, distribution piping, and insulation. They'll look for signs of water damage and general safety hazards that may pose a threat to the potential home buyers. For example, if the insulation of the home is too thick, it may interfere with the quality of the ventilation. Inspectors will note if the drainage is working properly and if the circuits are in working order. Home buyers are highly encouraged to get to know their inspector and to be there on the actual day of the inspection. Asking questions and learning more about the home is a good way to prepare oneself for homeownership.
Appliances
Home inspectors will look at the quality of your home appliances. For example, they may examine your water heater to ensure it is functioning properly and that it adheres to the government code. This can be helpful in negotiating the price of the house. If you have to replace outdated appliances, you can ask the home sellers for a discount on the cost as a concession for taking on that responsibility.
Energy-Efficiency
Some home inspectors may also look at a home's <a href="https://www.calgary.com/blog/energy-efficient-upgrades-how-to-make-the-best-investment/">energy efficiency</a>. This includes determining if a home has adequate insulation in the walls, if the windows and doors have proper weather stripping, and whether or not the appliances in the home are energy-efficient, among other things. A home that is lacking in these areas can lead to high utility bills.
Once you have received your report, keep in mind that very few resale homes are absolutely perfect. You shouldn't be surprised or shocked to see small issues coming to light on the report. As long as there are only one or two problems that are priced less than $1,000 each and they don't need to be resolved on a right-now basis, it should be considered as a very favourable report.
Home Inspection Limitations
A home inspection can give buyers a good idea of the condition of the home, but it also can't give home buyers any guarantees. Home inspectors aren't allowed to alter the home in any way, so they won't be able to follow the electrical wires into the walls to ensure they haven't been compromised. They may not be able to check the septic tank if it's not readily accessible or assess how level the floors are.
If there are hidden surprises (e.g., discarded food items, small rodents, etc.) in the walls or floor registers, a home inspector won't be able to tunnel into the home to find them. Once a homeowner knows what the inspection doesn't cover, they may be able to perform some additional inspection work of their own.
As you go through this process, a good home inspector won't miss anything, but they are still human. The most overlooked home issues include:
HVAC problems
Floors beneath carpet
Major appliance issues
Roof Leaks
Siding & Windows
Sometimes it has nothing to do with how good or bad the inspector is, but what's included in the contract you sign. Make sure you get everything you need, but understand many home inspectors don't look for some of these things because it would include ripping up carpet or floorboard and taking chunks out of the walls.
The key to having a better home inspection is by taking the time to learn what the inspector does and what their limitations are. Even the best inspectors in the province may still miss an important structural issue that was buried deep in the inner layers of the home.
What to Look For in a Home Inspector
It goes without saying that one of the most <a href="https://www.calgary.com/blog/dont-make-these-mistakes-when-buying-a-home/">common homebuying mistakes</a> is not getting an inspection before the deal closes on your new place. In order to help you find the right home inspector, here are a few simple guidelines to follow. Make sure you hire an expert who is well qualified and certified by the relevant authorities, and always work with someone you are comfortable with on your property. Getting a home inspection means inviting someone into your home who is trustworthy and has a great reputation.
Provinces such as Alberta and British Columbia regulate their home inspectors, while provinces such as Ontario do not. While it's important to know the qualifications and reputation of whoever a homeowner hires, it's especially important to find someone trustworthy in unregulated provinces. Some inspectors might leave certain facts off their report or flat-out lie about what they find. They may do this because they have some loyalty to a third party, such as the lender or the title company, or simply because they didn't thoroughly inspect the home. Home buyers should plan for the inspection to take about three hours.
Find an Inspector While Searching for a Home
While you are searching for a home you should also be looking for a home inspector. This way, if you find the home of your dreams, you'll already have an inspector in mind that you can call immediately.
Look at the Credentials
There are home inspectors who have been doing their jobs for decades, and then there are new inspectors who are just getting started in the industry. Try to locate an inspector that has a track record behind them. This way, you'll be better able to trust their findings and conclusions on the home in question.
Ask About Availability
Some home inspectors are busier than others. Find out how readily available the inspector is. Once you've picked out a fantastic home you won't want to wait for very long to see the results of the inspection.
Check the Price
Get a feel for the pricing of the services by calling different inspectors and companies. You should be looking for a middle-of-the-road price that isn't too expensive but at the same time isn't questionably cheap.
Homeowners who do the research on the reputation of their home inspector and who ask questions along the way will undoubtedly be more confident in making the right decision about whether or not to purchase the home.
Inspections for Homeowners
Home inspections aren't only useful for purchasers of resale homes in Calgary. They can be invaluable once you have lived in your home for a certain amount of time and can help you protect your investment.
If your home has suffered any type of <a href="https://www.calgary.com/blog/home-flood-safety-guide/">flood damage</a> at all, a good home inspection now would make a lot of sense. You'll be advised about any long-term damage that may not be obvious and this can end up saving you a lot of money in the long run.
Even if you only had a small amount of water entering your home during the flood, a home inspection is recommended. Small amounts of moisture that are visible to the naked eye following a flood can indicate larger amounts that have pooled and remain hidden underneath the flooring and behind the walls. If this is the case, especially in the attic or basement, the structure of your home can be compromised by mould and rot. This in turn can influence the air quality in your home.
When you work with a home inspector following a flood you'll be able to attack any issues proactively and you may or may not be able to make a claim with your house insurance company. An inspector can also make recommendations about downspouts, back flow valves for your sewer service, and other home drainage solutions.
You'll know for certain after the inspection what the damage has been to your home. These professionals use high-end equipment including moisture meters and infrared cameras to determine the damage that is water-related in the house. This can help minimize any problems that could potentially turn up in the future.
Why You Need a Home Inspection
(Content for this section provided by Nalliah Thayabharan, Registered Home Inspector)
It's easy to get caught up in the speed, drama and pressure of bidding on a house that you are willing to skip a few steps to make sure you acquire the house of your dreams. You're suddenly willing to pay a few thousand more than you had intended. You're willing to go for a quicker closing date. You're even willing to skip the home inspection process, and just ask a knowledgeable family member to check it out for you. Slow down. Relax.
Don't let yourself fall in love with a house until you've had the house examined by a professional. The house could have any number of problems in structural, roofing, exterior, foundation, heating, plumbing, electrical, insulation, etc. Even with newer homes, or ones that look flawless in your eyes, you'll never know what lies beneath the surface unless you hire a registered home inspector to check it out for you.
Home inspections have been around for quite a while, and for good reason. This process, which can cost between $300 and $500, is often a condition on buying a house. It usually takes a few hours and is easy to arrange. Hiring a professional home inspector is a small investment of your time and money. But, it's well worth the expense because you won't have to deal with costly and unexpected surprises once you've bought your home. Also you can gain a wealth of information about the condition of a property before you buy it. A home inspection is not intended to provide warranties or guarantees, and is not to be mistaken as a warranty on the house.
The final sale of a home can hinge on the results of a home inspection—even for a million-dollar home. While a home inspection is a critical component of buying and selling a home, knowing your home inspector is just as important.
Recent surges in the popularity of home inspections have created an over-populated inspection industry where not all inspectors have the training or experience to do a good job. Be wary of low-priced home inspectors whose only credential is a certificate acquired online, or by correspondence, or from attending a three-day course. There are some people in the home inspection industry who are not fully qualified—if at all—and they should not be recognized as home inspectors.
Home inspection is a discipline that requires special training, knowledge and communication skills. Anyone can say that they are a home inspector. That is why it is important to choose an inspector wisely.
Reputable home and property inspectors generally belong to <a href="https://www.cahpi.ca/en/" target="_blank">CAHPI-Canadian Association of Home & Property Inspectors</a>, which has set standards and is recognized by the Real Estate Associations and federal and provincial governments. CAHPI is the only national non-profit professional organization in Canada that rigorously tests home inspectors about their technical knowledge and diagnostic expertise prior to joining the organization as well as requiring continuing education after admission to keep current with new technology and building practices. Membership categories are based on the individual members' qualifications and experience. A member cannot advertise or promote his or her membership until they have reached the minimum standards of a practicing member. To become a member of CAHPI, an inspector must meet professional and educational requirements followed by a review.
Home inspectors should have a general understanding of all the various systems and components in a home. Many have practical experience or a background in engineering, construction and related building trades. Look for people who belong to CAHPI and who have taken some courses, such as defect recognition, building sciences or civil engineering. The more experienced a home inspector is, the more they have seen, the more likely it is they will be able to detect any less obvious problems.
Seasoned, professional home inspectors will be full-time home inspectors and are bound by a strict code of ethics and must adhere to specific standards of practice. You should ask to see proof of their membership in a provincial association. In most provinces, a member cannot advertise their membership in the association until they have reached the minimum standards of a practicing member.
To guard homebuyers against incompetent, negligent and bogus home inspectors, the association in your province will be pleased to clarify their membership categories and any particular inspector's membership level. Determine if the inspector intends to meet the CAHPI national standards of competency.
Hire a "Registered Home Inspector"
What home buyers need most is a source of trustworthy, competent, qualified home inspection professionals. Ask your real estate agent to recommend a good home inspection company. Talk to your family and friends about their experiences with home inspectors. It's also well worth contacting the Canadian Association of Home and Property Inspectors (CAHPI), a national organization that has links to the provincial associations. Check out www.cahpi.ca. The site will refer you to a list of Registered Home Inspectors in your area. Visit www.ashi.org to find more detailed information about home inspection.
Be present when the professional home inspector assesses your potential home. Ask questions and take notes of what repairs need to be done. They will give you their initial reactions as they are inspecting your home, and will follow up with a comprehensive package of information on the condition of your home. It is an invaluable piece of the home buying puzzle.
Newer Homes Also Need Inspection
Since the 1980s, when Canada Mortgage and Housing Corporation (CMHC) ended its consumer protection role through construction inspections, housing quality has suffered. For instance, CMHC estimates that more than 65,000 homes in B.C. suffered serious water infiltration problems in B.C.'s leaky condo crisis of the 1990s—a crisis that continues to this day.
While B.C.'s crisis is perhaps the best-known disaster in Canadian history, defective homes are a serious problem across Canada. In 2005, the Canadian Home Builders' Association (CHBA) estimated that 10% of Canada's builders are problematic. Other estimates find 20-25% of home builders as problematic. Although there are good builders in Canada, consumers and Realtors have no reliable means of knowing who they are.
Consumers who find themselves with a defective home and an unresponsive builder naturally turn to their <a href="https://www.calgary.com/blog/home-warranty-101-what-are-they-and-how-can-they-help-homebuyers/">home warranty program</a> for assistance. This too can be problematic. In Ontario, for example, new home purchasers face a mandatory payment to TARION for warranty coverage. Purchasers should recognize TARION as an insurance company that will require that you prove your claim.
TARION does not serve as an advocate for the purchaser. The TARION claim process is complicated, and, therefore, must be pursued with great care in order to avoid pitfalls. Municipal government officials involved in the home construction process usually acknowledge home construction industry and warranty program problems, but often simply advise the homeowner that they can settle their issues through civil litigation. Given the time and high costs involved in the legal system with no guarantees of success, the courts are not a viable option for most Canadians.
Given a system that is not conducive to construction dispute resolution, many homeowners conclude that they have no option but to quietly sell their flawed homes without disclosing the known problems to potential purchasers, despite the fact that sellers are required by law to disclose known defects. Home buyers protect their investment by retaining a competent registered home inspector to inspect the home, regardless of whether it is newly built or a resale home. While some problems may remain hidden behind drywall, a registered home inspector can often detect problems unrecognizable to the average consumer.
Deal With the Bad News
It can be heartbreaking to find out all the problems after a home inspection, but be realistic. Remember that no home is perfect. What you need to decide is whether or not you are willing to fix the problems. Ask yourself these questions:
Can you afford the recommended renovations or repairs?
Does the house meet your needs in its current condition?
Knowing these problems, is the house still a good investment?
Once you've had a home inspection, you'll have peace of mind that you've made an educated decision on buying a home. It's worth it!
Ready to Get a Home Inspection?
An inspection is a critical component of the <a href="https://www.calgary.com/blog/understanding-the-home-buying-process/">home buying process</a>. To make sure a home is built right and safe for occupancy, hire home inspectors to check your house. Otherwise, you won't have any recourse for any problems that you notice later, even large ones. You cannot forgo the inspection just because the home is brand new, either. You still need to make sure the house is inspected because mistakes are often made by builders, even the most experienced ones.
Whenever you make a big decision, such as buying a new home, you need to make sure you protect your investment. Getting an inspection is one of the best things you can do to feel good about buying your dream home.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2023-11-01T12:30:00-07:002023-12-21T11:05:08-07:00Justin Havretag:calgary.com,2012-09-20:20576How to Choose the Right Neighbourhood: Strategies to Research Neighbourhoods Before Buying a Home<img src="https://assets.site-static.com/userfiles/4845/image/how-to-research-a-neighbourhood.jpg" alt="How to Research Neighbourhoods Before Buying a Home" style="display: block; margin: 0 auto 10px auto;" />
Choosing the right neighbourhood when <a href="https://www.calgary.com/blog/understanding-the-home-buying-process/">buying a house</a> is crucial for several reasons. Firstly, purchasing a home represents a substantial financial commitment that demands careful consideration. Unlike renting or leasing, purchasing a home typically involves a long-term commitment, making it essential to make an informed choice from the outset.
Discover how to select a neighbourhood that not only feels like home but also aligns with your needs and aspirations! Here are some key factors to consider:
Property Value Trends and Investment Potential
Even if you don't plan to sell your home immediately, it's wise to consider your property's resale potential. The <a href="https://www.calgary.com/communities/" title="Calgary Neighbourhoods and Communities">neighbourhood you choose</a> can significantly impact the future value of your property. A desirable neighbourhood can make your home more attractive to prospective buyers when it's time to <a href="https://www.calgary.com/blog/step-by-step-guide-to-selling/">sell your home</a>.
Furthermore, some neighbourhoods offer investment opportunities with a higher chance of growth. In contrast, declining neighbourhoods may lead to potential financial losses.
Crime Rates, Safety, and Security
Safety is a top priority for most homeowners. Researching crime rates and the overall feeling of security in a neighbourhood is vital for your peace of mind and the well-being of your family. The <a href="https://www.calgary.ca/home.html" target="_blank">City of Calgary website</a> provides crime statistics for various neighbourhoods, and a ranking of the safest neighbourhoods in Calgary can be found here.
Commute and Accessibility
Your chosen neighbourhood can significantly affect your daily life. Consider proximity to schools, healthcare facilities, grocery stores, parks, and recreational areas. The daily commute to work or other essential destinations can significantly impact your happiness and productivity. A convenient location can improve your quality of life and save you time on daily tasks.
When choosing a new place to live, think about how close it is to places you go often, like school or your favourite grocery store. Also, check if buses or trains are nearby to help you get around easily. It's always good to pick a spot that makes your day-to-day travels simple and quick. This way, you can spend more time doing what matters to you and less time on the road.
Local Amenities, Community, and Lifestyle
Different neighbourhoods offer different amenities and lifestyles. Some may have vibrant cultural scenes, while others provide a more peaceful, suburban atmosphere. If you have children or plan to in the future, the quality of local schools is also essential. Consider your interests and the lifestyle you want when choosing a neighbourhood. Here are a few popular amenities homebuyers often look for when buying a new home:
Schools: Good-quality schools, both primary and secondary, nearby.
Parks and Green Spaces: Areas for recreation, relaxation, and play.
Shopping Centers: Convenient locations for grocery shopping, <a href="https://www.calgary.com/blog/which-malls-and-shopping-centres-provides-the-best-shopping-in-calgary/" title="Best Malls and Shopping Centres in Calgary">retail shopping</a>, and other essential purchases.
Dining Options: Restaurants, cafes, and eateries within walking or short driving distance.
Recreational Facilities: Gyms, swimming pools, tennis courts, etc.
Healthcare Facilities: Hospitals, clinics, and pharmacies nearby.
Cultural Attractions: Museums, theatres, galleries, and other cultural venues.
Walking and Biking Trails: Paths for pedestrians and cyclists for exercise and commuting.
Public Libraries: Access to reading materials, classes, and community events.
Proximity to Workplaces: Especially important for those who prefer a short commute.
Childcare Centers: For families with young children.
Pet-Friendly Amenities: Dog parks or pet-friendly areas.
Public Services: Fire and police stations nearby for safety and security.
Future Development Plans
The potential for future development is a critical factor to consider, as it can significantly impact the quality of life and <a href="https://www.calgary.com/blog/real-estate-valuation-understanding-your-homes-value/">property values in a given neighbourhood</a>. Upcoming infrastructure and real estate developments can bring numerous benefits, including improved amenities, greater accessibility, and increased job opportunities. However, they may also lead to higher living costs, increased traffic, and potential displacement of current residents.
Planned infrastructure and development can also negatively impact your home purchase. New expansions can affect the overall character of your house, such as your lake views being obstructed by new structures. It can also affect the property value and how you experience your neighbourhood.
Therefore, staying informed about future changes is vital. By researching prospective neighbourhoods thoroughly, one can gain insight into planned developments and their potential impacts. This can inform decisions about whether a neighbourhood will continue to meet personal and financial needs in the future, ensuring a sound real estate investment.
Environmental Factors to Consider
In considering a potential neighbourhood, it is essential not to overlook the importance of environmental factors. These can include the risk of natural disasters, the presence of parks and green spaces, and the general natural beauty of the area.
Each of these elements can significantly impact the quality of life and should be part of any thorough neighbourhood investigation.
Checking for Natural Disasters and Risks
A significant proportion of your neighbourhood research should be dedicated to assessing the potential risks and prevalence of <a href="https://maps.calgary.ca/DisasterRiskExplorer/" target="_blank">natural disasters in the area</a>. This includes investigating the history of environmental hazards such as floods, wildfires, earthquakes, or severe weather conditions.
Reliable sources for this information can be local government websites or national databases. It's important to also consider if the area has a robust disaster response plan in place.
Environmental factors are a crucial consideration when choosing a neighbourhood, as they can impact not only your lifestyle but also your safety and well-being.
Parks, Green Spaces, and Natural Beauty
Evaluating the presence and quality of parks, green spaces, and areas of natural beauty in a potential neighbourhood can contribute significantly to your understanding of its environmental appeal and overall liveability. These spaces not only provide aesthetic benefits but also promote physical activity, mental well-being, and community engagement.
Financial Considerations When Considering a Home Purchase
Understanding the financial implications is critical when considering a home purchase, as these will significantly affect your overall budget and lifestyle. Property taxes and municipal fees are important factors to consider. These <a href="https://www.calgary.com/blog/how-to-budget-for-a-house/">home buying costs</a> can vary greatly from one neighbourhood to another and can significantly impact your monthly housing expenses.
The potential for rental income is another financial consideration. If the neighbourhood has a strong demand for rentals, you may be able to generate extra income by renting out a portion of your property. Moreover, this demand could also enhance your property's resale value.
Additional Factors to Consider
In considering the right neighbourhood, it's crucial not only to think about the financial aspects but also to take into account other factors.
These include the history and heritage of the neighbourhood, the availability of local health and medical facilities, opportunities for social engagement and networking, and the potential for rental income and property sharing.
Each of these factors contributes to the overall quality of life in a neighbourhood and should not be overlooked.
Strategies for Researching a Neighbourhood Before Buying
When purchasing a home, the neighbourhood can be just as important as the house itself. Before making such a big decision, it's crucial to research and get to know the community you're considering. Here are some strategies you can employ to investigate a neighbourhood thoroughly, ensuring you make an informed choice for your future home.
Conducting an In-person Neighbourhood Assessment
Three essential steps in conducting an in-person neighbourhood assessment include:
Visiting the area: This step allows you to experience the neighbourhood's ambiance and assess factors such as noise levels, cleanliness, and traffic patterns. A visit provides invaluable insights beyond what can be found online.
Observing the surroundings: This step involves observing the neighbourhood's surroundings, particularly during different times of the day. This reveals the neighbourhood's character and lifestyle. It is important to note the condition of buildings, public spaces, and infrastructure. Additionally, observe the availability of amenities like parks, stores, and restaurants.
Interacting with potential neighbors: This step involves interacting with potential neighbors to get firsthand experiences and perceptions about the area. They can provide valuable information about the community and give insights that may not be apparent from a visit or observation.
An in-person neighbourhood assessment, although time-consuming, provides a comprehensive understanding of your prospective community that will make it easier to purchase your new home with confidence.
Speak With People Who Live in the Neighbourhood
Connecting directly with its residents often reveals invaluable insights that cannot be gleaned from data alone.
Residents offer firsthand knowledge about the neighbourhood's vibe, providing a more nuanced understanding than raw data. They can share if the community is welcoming, quiet, or vibrant.
Residents can provide details on neighbourhood issues that aren't immediately apparent, such as noise disturbances, or parking difficulties.
They can also share the strengths of the community, such as frequent neighbourhood gatherings or great local amenities.
Ultimately, reaching out to neighbourhood residents can provide a richer, more accurate picture of your potential new home than data alone can provide.
Do a Trial Run of Your Future Commute
Before settling on your dream neighbourhood, conducting a commute trial run can give you a great idea of if the neighbourhood is a good choice with your current employer. It provides a realistic view of your potential daily travel times and traffic experiences. Here are some things to keep in mind when you do your trial run depending on your mode of transport:
Test Drive: Physically drive the route between your prospective home and workplace during your usual commute times. Experience firsthand the traffic patterns, road conditions, and any potential bottlenecks.
Public Transit: If you plan on using public transportation, take a ride on the available routes. Evaluate their punctuality, comfort, and convenience.
Alternative Paths: Explore different commuting routes to determine flexibility. Unforeseen circumstances or road constructions may necessitate these deviations.
A commute trial run is an essential step in the home-buying process. It ensures that your dream neighbourhood doesn't turn into a logistical nightmare, impacting your quality of life and satisfaction.
Utilize Community Facebook Groups
In the process of researching your dream neighbourhood, utilizing community Facebook groups can provide invaluable insights and firsthand experiences from current residents. These platforms are a treasure trove of information, often hosting lively discussions about local events, ongoing issues, and overall neighbourhood vibes.
Joining these groups not only offers answers to specific queries but also enables you to navigate through varying perspectives, providing a well-rounded understanding of the community. Utilize keyword searches to discover past conversations on topics of interest. Engaging actively can reveal the community dynamics, highlighting the level of resident involvement and general attitude.
Get Insider Neighbourhood Information: Buy Your Next Home With The Justin Havre Real Estate Team
Discovering the ideal neighbourhood requires a multifaceted approach and may require you to <a href="https://www.calgary.com/blog/how-many-homes-will-you-have-to-look-at-before-finding-the-right-one/">look at a large number of homes</a>. This involves analyzing unbiased ratings and reviews, understanding the quality of educational institutions, conducting physical assessments, interfacing with residents, and scrutinizing crime rates.
Ultimately, let your personal preferences and priorities guide your decision. Learn more about choosing the right neighbourhood by calling <a href="tel:4032170003">403-217-0003</a> to book an appointment with The Justin Havre Real Estate Team.2023-10-04T11:14:48-07:002023-12-06T11:13:31-07:00Justin Havretag:calgary.com,2012-09-20:20566How to Budget for a House: The First-Time Homebuyer's Guide to Setting a Housing Budget<img src="https://assets.site-static.com/userfiles/4845/image/how-to-set-a-housing-budget.jpg" alt="How to Budget for a House" style="display: block; margin: 10px auto;" />
Embarking on the journey of <a href="https://www.calgary.com/blog/first-time-home-buyers/">buying your first house</a>, whether for investment purposes or to create a cherished home, is an undeniably exciting milestone. Becoming a first-time homeowner is worth celebrating, as it symbolizes a significant step towards financial stability and personal fulfillment.
Of course, when venturing into homeownership, one of the most critical factors to consider is your income. It directly influences the amount you can comfortably allocate to purchasing a home. Delve into the ins and outs of mortgage financing and how to set a housing budget so you can confidently buy a home.
How to Budget for a House: Key Takeaways
Understanding your financial health is crucial before committing to a home purchase, which includes evaluating income, savings, and debts.
Your monthly housing expenses should ideally be about 39% of your gross monthly income, but total debt load shouldn't exceed 44%.
Homeownership costs include both fixed (e.g., mortgage, insurance) and variable expenses (e.g., utilities, maintenance) that can cause your costs to change month to month.
Planning for unexpected housing expenses, such as establishing a contingency fund, is vital for a resilient budget.
Transitioning from renting to buying involves understanding additional costs like maintenance and property taxes.
Improving your credit score, understanding tax benefits, and saving strategies are essential for potential homeowners looking to buy a home.
How to Prepare to Buy a Home
Undeniably, preparing to buy a home requires careful planning and strategic financial decisions to ensure a successful purchase.
The first step is to evaluate your current financial position. This involves examining your income, savings, and existing debts. It is crucial to have a clear understanding of your financial health before committing to a home purchase.
Next, identify your housing needs and preferences. Consider factors such as location, size, and type of the property.
Finally, it's important to build an emergency fund. This financial safety net covers unexpected expenses or financial emergencies while you shop for a home.
A well-rounded preparation process is key to successfully buying a home without causing undue financial stress.
How Large of a Mortgage Can I Qualify For?
The Canada Mortgage and Housing Corporation (CMHC) has established valuable guidelines, suggesting that <a href="https://www.cmhc-schl.gc.ca/consumers/home-buying/buying-guides/home-buying/check-if-you-are-financially-ready-to-own-a-home">your monthly housing expenses</a> should ideally be approximately 39% of your gross monthly income before any deductions. These expenses encompass various aspects, such as mortgage payments, property taxes, and heating costs.
While many individuals are adept at setting a budget that aligns with their financial capacity, it's common for this budget to be tested during the house-hunting process. The allure of envisioning your life in a beautiful home can sometimes tempt you to stretch your budget beyond its limits. However, it's crucial to approach this temptation cautiously, as a spontaneous decision to extend your budget can lead to financial strain.
What is Debt Load? How Housing Affordability is Determined
It's essential to recognize that affordability isn't solely determined by income. Equally significant is the consideration of your <a href="https://www.investopedia.com/terms/d/debt-load.asp">monthly debt load</a>, which entails aggregating all your outstanding financial obligations, encompassing mortgage payments, loans, and credit card payments.
According to the Government of Canada website, "Your entire monthly debt load should not be more than 44% of your gross monthly income." To illustrate, if someone earns $5,000 monthly, their total debt load, including the mortgage, should ideally not exceed $2,200.
Therefore, before committing to purchasing a house, it's imperative to conduct thorough financial calculations to assess your <a href="https://www.calgary.com/blog/what-is-debt-to-income-ratio/">debt-to-income ratio</a>. It may involve considering less expensive housing options that, with time and care, can evolve into the dream home you've always desired.
How Much Does it Cost to Own a Home?
Understanding the costs associated with homeownership is a critical element in establishing a realistic housing budget. These costs can be broadly categorized into fixed and variable expenses, each having a significant impact on your monthly outlay.
A comprehensive look at these expenses will give us a clearer picture of the true cost of owning a home.
Monthly Expenses of Owning a Home
ExpenseEstimated Cost (based on a $750,000 home)Description/Notes
Property Taxes
$325
Roughly between 0.5% and 2.5% of the market value annually.
Home Insurance
$75
Protects property and home contents from issues like vandalism, theft, flooding, and fire. Also includes liability insurance.
Condo Fees
N/A
Relevant only for condominium owners. Monthly fees can be significant and vary by building.
Utilities
$425
Costs include electricity, air conditioner, heat, gas, water, water heater rental, etc.
Cable, Phone, Internet
$180 (Total)
Monthly charges for cable, phone, and internet services.
Maintenance
$100
Costs associated with landscaping, snow removal, gutter cleaning, HVAC maintenance, home cleaning, etc. Also includes potential appliance repairs or replacements.
Environment
Varies (Not specified)
Costs to deal with issues like mould, pests, termites, etc.
Mortgage Payment
$3,444
Monthly mortgage payment is based on the borrowing amount, interest rate, and loan term.
Note: The exact costs can vary based on individual situations, current market conditions, and the specifics of the property. Always consult with relevant professionals or service providers to get precise figures for budgeting.
Components of a Housing Budget
The total cost of homeownership extends beyond the initial mortgage payment, encompassing other key expenses such as utilities, maintenance and repair costs, property taxes, homeowners insurance, and potentially even Homeowner Association fees. It is essential to consider these costs while planning a housing budget, as they can significantly impact your overall monthly expenditure.
In order to better understand the components of a housing budget, here's a quick breakdown of the most common carrying costs associated with homeownership:
Mortgage Payments: This is likely to be your largest monthly expense. It includes both the principal and interest.
Utilities: This includes electricity, heat, water, and other essential services.
Maintenance and Repair Costs: These are unpredictable expenses that you should always prepare for.
Property Taxes and Homeowners Insurance: Both are crucial expenditures that offer financial protection for your property.
Fixed vs. Variable Expenses
Within the framework of a comprehensive housing budget, it is crucial to differentiate between fixed and variable expenses, for these two categories not only influence the total cost of owning a home but also affect how you plan and manage your monthly and annual expenditures.
Fixed expenses are the costs that remain constant month by month, such as your mortgage or rent, insurance, and property taxes. Variable expenses, on the other hand, fluctuate based on usage or market conditions; these include utilities, maintenance, and potential repair costs.
Below is a simple breakdown of common fixed and variable home expenses:
Fixed ExpensesVariable Expenses
Mortgage/Rent
Utilities
Property Taxes
Maintenance
Home Insurance
Repair Costs
HOA Fees
Landscaping
Home Warranty
Pest Control
Understanding these costs can help ensure a realistic and manageable housing budget.
Planning for Unexpected Housing Expenses
Undoubtedly, planning for unexpected housing expenses is a crucial aspect of establishing a comprehensive housing budget. Such costs can quickly derail your financial plans if not accounted for in your budget.
To effectively plan for these unforeseen expenses, consider the following strategies:
Identify common unexpected costs: From sudden repairs to increases in property taxes, knowing possible unexpected expenses can help you prepare.
Establish a contingency fund: This will serve as your financial safety net for when unexpected expenses arise.
Regularly review and adjust your budget: This allows you to accommodate any changes in your housing expenses.
Insure your property: This can help cover costs for damages and losses, providing a buffer for unexpected expenses.
Prepare for maintenance: Put aside 1.5% of your home's cost every year in a savings account to use on home maintenance as needed.
Through these steps, you can create a resilient budget that can withstand unexpected housing costs.
Renting vs. Buying: Budget Considerations
The transition from renting a home to buying one can come with some sticker shock as you learn about all the <a href="https://www.calgary.com/blog/buying-a-home-beware-of-the-hidden-costs-of-homeownership/">additional expenses associated with homeownership</a>.
Buying a home involves a larger upfront cost, including a down payment, closing costs, and possible renovation expenses. As a homeowner, you are also responsible for ongoing costs such as maintenance, repairs, property taxes, and homeowner insurance. Additionally, your monthly mortgage payments may be higher than rental fees.
However, buying a home can be seen as an investment, with the potential for property appreciation and building equity over time. You also have more freedom to customize your space as per your preference.
Establishing a Home Buying Budget: Frequently Asked Questions (FAQ)
What Are the Tax Benefits of Owning a Home?
Homeownership offers several tax benefits. These include potential deductions on mortgage interest, property taxes, and home office expenses. Additionally, profits from selling your home may be exempt from capital gains tax under certain conditions.
How Do I Save for a Down Payment on a House?
To save for a house down payment, start by assessing your financial situation. Determine a specific amount to save monthly. Consider opening a separate savings account and explore investment options for potential higher returns.
How Can I Improve My Credit Score to Qualify for a Better Mortgage Rate?
Improving your credit score involves consistent, disciplined financial behaviour. Pay bills on time, reduce debt, avoid new debt, regularly check your credit report for errors, and maintain a long history of good credit.
Contact The Justin Havre Real Estate Team to Find the Right Home For You!
Taking a prudent and calculated approach to homeownership ensures that this exciting journey remains financially sustainable and personally rewarding.
To learn more about budgeting and buying the right home for you, contact The Justin Havre Real Estate Team at <a href="tel:4032170003">403.217.0003</a> or <a href="https://www.calgary.com/contact/">contact us here</a> to learn more!2023-10-03T14:29:10-07:002023-10-03T14:43:33-07:00Justin Havretag:calgary.com,2012-09-20:20313Bathroom Renovation Ideas to Increase the Value of Your Home<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/bathroom-renovation.jpg" alt="Which Bathroom Renovations Have the Best ROI?" width="475" />When it comes to home renovations, kitchens and bathrooms are typically at the top of the “must-fix” list. This is because these are the two areas of the home that often see the highest <a href="https://www.calgary.com/blog/high-roi-improvements/">return on investment</a> (ROI).
A minor bathroom remodel returns an average of 102%, whereas a minor kitchen remodel returns, on average, 98.5%. Thankfully, a few well-placed changes and updated fixtures can transform an outdated bathroom into a modern oasis.
Here are a few bathroom renovation ideas to boost the value of your home.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
Upgrades to the Bathroom Fixtures
Upgrading bathroom fixtures is an effective way to increase the value of your home without doing a major bathroom remodel.
Upgrading the Sink and Faucet
Replacing the sink and faucet with brand-new fixtures can easily transform any bathroom’s aesthetic appeal. Modern components with a dash of style can give any restroom a fresh, updated appearance and feel.
Replace Old Toilets and Showers
To increase functionality and boost the value of your home, consider replacing old toilets and updating your shower. According to a 2023 article on <a target="_blank" href="https://bathroomrenovationsoshawa.ca/bathroom-renovation-cost-toronto-vs-oshawa/">bathroom renovation costs in Toronto</a>, updating bathroom features is a terrific way to add worth to your house without breaking the bank.
Add a Bathtub
Adding a bathtub can likewise increase the worth of your home. An elegant tub can create a spa-like environment in the bathroom, making it a better feature for prospective buyers.
Why not unwind and relax after a long day in your spa? According to the Spruce, a modern bathtub is among the best investments in terms of a bathroom upgrade.
Other Cosmetic Changes and Upgrades
If you’re brainstorming bathroom renovation ideas to spike the value of your house, focus on repairs, accessibility functions, and cosmetic upgrades. Widening entrances and transforming a basic tubbed shower into a walk-in shower are excellent bathroom renovation ideas that increase the worth of the home. Additionally, upgrading tiles, flooring, and cabinets can significantly influence a bathroom's appearance and increase your home's worth.
Renovate the Floor and Walls
One of the most reliable ways to increase ROI through a bathroom renovation is by updating the flooring and walls. Installing a tile surround or new tile flooring can significantly improve the total look of the bathroom and make it more functional.
If your floor needs repair or is out-of-date, consider changing it with brand-new flooring that is both trendy and durable. This alone can assist in increasing the resale worth of your home.
Paint or Wallpaper the Walls
Additionally, painting or using wallpaper on the walls can provide a fresh, updated look. This economical approach allows you to change the space without significant structural changes.
Add New Lighting Fixtures
Another way to increase the worth of your house through <a href="https://www.ownerly.com/home-improvement/how-to-update-bathroom/" target="_blank">bathroom updates</a> is by including brand-new lighting fixtures. Good lighting can enhance the overall ambiance of the bathroom and make it more functional.
Consider setting up brand-new light fixtures—that are stylish and energy-efficient—to create a more modern and eco-friendly bathroom.
Upgrading your lighting can also assist in highlighting other functions of the bathroom, such as the new floor and wall finishes.
Storage and Organization Upgrades
Another way to increase the value of your home through a bathroom renovation is by upgrading the storage and organization features.
Install Built-in Shelving and Cabinets
Installing built-in shelving and cabinets can provide extra storage space while also adding style to the bathroom. Custom built-in cabinets and furniture pieces can increase the value of a home. Additionally, built-ins made with high-quality materials, such as hardwood, can further increase a property's value.
Incorporating these features into a bathroom renovation can not only increase the value of your home but also provide practical storage solutions.
Adding a Vanity or Dressing Table
Another storage and organization upgrade to consider is adding a make-up vanity or dressing table to the bathroom. This feature can provide a dedicated space for getting ready and storing personal care items.
A well-placed comfy chair and make-up vanity can add value to a bathroom renovation. By incorporating a vanity or dressing table into a bathroom renovation, you can create a functional and stylish space that adds value to your home.
Installing New Mirrors and Medicine Cabinets
Finally, installing new mirrors can enhance the functionality and aesthetic of a bathroom while also increasing its value. Mirrors are also great for reflecting light and making small bathrooms feel brighter.
Upgrading these features can provide a fresh and modern look to the bathroom, making it a valuable asset to your home.
Technology and Smart Home Integration
Integrating innovative technology and smart home functions into your bathroom remodelling is an excellent way to increase the worth of your home.
Smart Toilets and Bidets
Smart toilets and bidets are trending, with popular functions such as heated seats, automated opening and closing, and self-cleaning capabilities. These features bring the high-end appeal to your bathroom as well as improve health and comfort.
Touchless Faucets and Soap Dispensers
Similarly, touchless faucets and soap dispensers have become popular recently, using a more sanitary alternative to traditional fixtures. These features are convenient and also help to reduce the spread of germs and bacteria.
Bluetooth Speakers and Entertainment Systems
Another popular technology trend in bathroom renovations is the addition of Bluetooth speakers and entertainment systems. These features allow you to listen to music or watch TV while getting ready in the morning or relaxing in the tub at night. This added convenience and luxury can make your bathroom a more enjoyable and relaxing space.
Additionally, incorporating smart lighting and temperature control systems can create a more personalized and comfortable experience in your bathroom.
Keep in Mind Your Home’s Market Value
When considering bathroom renovation ideas, it is important to remember your home's market value and the <a href="https://www.calgary.com/blog/home-renovation-costs/">cost of the renovations</a> makes sense for your property. It is important to keep the upgrade proportionate to your home's value.
However, even small updates like touchless fixtures or smart technology can add value and appeal to potential buyers. By incorporating these technology and smart home features into your bathroom renovation, you can create a more functional, comfortable, and valuable space in your home.
Renovating your bathroom is an excellent method to increase the value of your home. By upgrading cosmetic features, you can develop a more modern and functional bathroom that will interest prospective buyers.
With the right remodelling concepts and a little imagination, you can change your restroom into a space you love while enhancing the resale value of your home.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.2023-09-07T09:25:02-07:002023-09-27T10:41:35-07:00Justin Havretag:calgary.com,2012-09-20:20266Are Moving Expenses Tax Deductible? Saving Money When You Move
<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/moving-expense-deduction.jpg" alt="What Moving Expenses Are Tax Deductible?" width="475" />Moving can be a stressful experience, but if you're moving for a job, it might come with a financial perk—you may qualify to have your moving expenses count toward tax deductions. Let's dive into when you can qualify, which moving expenses you can deduct, and which you can't.
For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.
When Can You Deduct Moving Expenses?
Not every move will qualify for tax deductions. You may claim tax deductions for moving expenses if, and only if:
You are either 1) moving for business reasons, such as a job transfer to a new location, a new job, or self-employment, or 2) moving to be a full-time student in post-secondary education
Your new residence is at least 40 kilometres closer to your new place of work
Your place of work isn't already paying the moving expenses for you
Both the old and new residences are in Canada (unless you're moving for post-secondary education, in which case it's "either or both," or if you're an absent resident)
Luckily, this applies whether or not you're a homeowner. Both homeowners and renters may take advantage of these deductions. This can even apply for students moving back in with their parents to get a summer job, so long as the move meets the distance requirement.
However, it's crucial that the new place of work is, in fact, a new location. <a href="https://financialpost.com/personal-finance/taxes/court-backs-cra-reject-moving-expense-claim" target="_blank">The CRA may deny a moving expense claim</a> if your work location before and after the move isn't geographically different. In addition, moving to a new home within the same city—for example, moving to a larger home—will likely not qualify as an eligible move.
Rules for Deducting Moving Expenses
Taxpayers who meet the requirements may deduct reasonable moving expenses for themselves, their household, and personal property. The taxpayer and their household don't have to be travelling together or even at the same time for the moving expenses to qualify.
The expenses must be deducted from employment or self-employment income from working at the new location rather than other types of income, such as investment income or benefits. If the work income earned during the remainder of the year after the move does not exceed the amount deducted, don't worry; you won't miss out on your tax benefits. The remainder of the deduction can be carried over into future years.
The best summary of the calculation rules of moving deductions can be found on the T1-M form on the CRA website, which is used to claim the expenses.
What Moving Expenses Can Be Deducted?
There are a number of moving expenses that are explicitly provided for in <a href="https://laws-lois.justice.gc.ca/eng/acts/I-3.3/section-62.html" target="_blank">Section 62 of the Income Tax Act</a>. Though there isn't a specific dollar limit, your claim being granted is still dependent on being "reasonable." These specifically mentioned expenses include:
Travelling expenses, including items such as gasoline, meals, and accommodations, to move you and your household to the new location
Transport and storage expenses, such as packing materials, hauling, movers, in-transit storage, and moving insurance, including items such as boats and trailers
Lease cancellation charges (but not rent)
Legal fees, notary fees, and transfer/registration of title taxes for the new residence (minus GST or HST)
The <a href="https://www.calgary.com/blog/how-much-will-you-have-to-pay-to-sell-your-home/">cost of selling your previous home</a>, including <a href="https://www.calgary.com/blog/ways-to-help-market-a-home-for-sale/">marketing your home</a>, agent commissions, mortgage penalties for premature payoff, and legal fees
Administrative costs for changing address, replacing driver's licenses and non-commercial vehicle permits (minus insurance), and costs related to hooking up or disconnecting utilities
Up to 15 days' worth of meals and temporary accommodation near the old and new residences for you and your household
Up to $5,000 worth of interest, property taxes, insurance premiums, heating, and utilities to maintain your old residence, so long as it's unoccupied and you're making efforts to sell it
While it's sometimes advisable to wait to sell your home until market conditions are more favourable, in this case, it will result in you losing the $5,000 maintenance deduction. It may still be advisable to wait, but it's something to keep in mind.
All these expenses should be kept track of through receipts to ensure that they can be claimed when filing taxes. You aren't required to file them with your return, but you'll want to have them available in case the CRA wants to review them.
Standard Deductions for Moving Expenses
If you're dreading having to keep track of every travel receipt, you might want to opt for the standard deduction. For convenience, the CRA allows taxpayers to claim a fixed amount for travel and meal expenses. The standardized rate for meals is up to $17 per meal, with a maximum of $51 per day, for each household member. There's also a set rate per kilometre of travel, which is different depending on location. The rate is set by the province or territory where the travel begins, and rates range from 45 cents in Alberta to 60.5 cents in the Yukon Territory.
What Moving Expenses Can't Be Deducted?
<a href="https://www.calgary.com/blog/best-home-renovations-before-selling/">Repairs and renovations before selling</a>
Selling your home at a loss
Expenses other than those specifically mentioned to buy your new home
Travel expenses for job-hunting or house-hunting at the new location
Cleaning and repair expenses for rented property
Cost to replace personal-use items
Mail forwarding costs
Mortgage default insurance
Items without a supporting receipt
For other expenses not listed here, it's safest to assume that if it's not specifically mentioned as a deductible expense, you probably shouldn't try to deduct it. You may appeal a denied claim, but the legal expenses might not be worth it. If you have any uncertainty about whether an expense is deductible, it's best to consult a tax professional.
For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.
You Can Save Money When You Move
Moving expenses can really stack up, so deducting them from your income tax return can be a welcome tax break. You'll need to make sure that your move meets the requirements set by the CRA and keep all relevant records and receipts in order to take advantage of these deductions, but with careful planning and preparation, you could end up saving some money come tax time.
Do you need to sell your home quickly for a job relocation? <a href="https://www.calgary.com/contact/">Get in touch with The Justin Havre Real Estate Team</a>. We have the experience you need to sell your home for top dollar on your timeline.
2023-08-30T09:25:30-07:002023-08-30T09:49:09-07:00Justin Havretag:calgary.com,2012-09-20:20245Green Real Estate Photography: Sell Your Home in the Winter With Green Photography<img src="https://assets.site-static.com/userfiles/4845/image/green-photography.jpg" alt="Benefits of Gree Photography to Sell Your Home in the Winter" style="display: block; margin: 10px auto;" />
Snap it before it snows! Dive into the art of green photography in real estate—a strategy to capture stunning, verdant listing photos of your home before winter descends.
Why wait for the snow to cover the <a href="https://www.calgary.com/blog/decor-and-design-ideas-for-your-backyard/">outdoor decór in your backyard</a> or that <a href="https://www.calgary.com/blog/how-to-install-a-deck/">intricately designed deck you installed</a>? Pre-winter photos keep your listings vibrant and appealing even in the chilliest seasons. This approach ensures your property stands out with lush, green visuals when most others are draped in white. Harness the power of green photography to make your winter real estate listings irresistibly eye-catching.
Let's talk about the best time to snap those stunning real estate photos. We'll also cover how you can get good at both green and white photography. You'll be drawing in potential buyers before you know it!<br /><br />Green Photography Key Takeaways
Green Photography: Enhances real estate listings by showcasing properties with lush, vibrant surroundings, especially useful in winter.
Optimal Timing: "Golden hour," just after sunrise or before sunset, offers the best lighting conditions for capturing property photos.
White Photography: If snow is present, adjust camera settings and avoid midday for optimal results.
Selling a Lifestyle: Photos that capture greenery and outdoor beauty can <a href="https://www.fastexpert.com/blog/a-sellers-guide-to-the-psychology-of-listing-photos/" target="_blank" rel="noopener">sell more than just a property</a>, but a lifestyle.
Green Photography: What it is and Why Use It
In real estate, green photography is photography taken in the spring, summer, or fall, when there isn't any snow on the ground and your home is looking its best. For <a href="https://www.calgary.com/real-estate/" title="Calgary Real Estate & Homes for Sale">areas like Calgary</a> that get a lot of snow in the winter, this strategy can be used to help make your listing photos pop if you're going to put your home for sale in the winter.
When we talk about green photography, we mean taking pictures of a place when the plants around it look bright and full of life. This not only makes the whole scene look better, but it can also make the place more valuable.
Key Benefits of Green Photography for Home Sales
The main benefit of using green photography in real estate is that you have the opportunity to portray your home at its best when you're listing it for sale in the winter. Not only does this make your home look better to buyers, but it also helps make your home look better compared to other homes on the market that may all have snow on the ground and obscuring their home's best features.
It's good to remember that showing off your home's outside look in times besides winter can help it stand out from the rest. This could lead to your home being sold faster and for more money.
This is why green photography is so useful. It allows you to show off green grass, flowers in bloom, and full trees - all things that make your home more appealing. By showing off your home in its full glory, you maximize the amount of <a href="https://www.calgary.com/blog/the-basics-of-curb-appeal-for-home-sellers/">curb appeal</a> you can showcase in your listing photos, giving you an edge over other sellers.
Don't forget, people aren't just looking for a house to live in; they're looking for a place where they feel at home. So don't forget about the power of green photography. Use it smartly to show off what makes your home special and watch as potential buyers fall in love with it.
Green Real Estate Photos vs. White Real Estate Photos
<img src="https://assets.site-static.com/userfiles/4845/image/green-photo-1.jpg" alt="Green Photography in Calgary" style="max-width: calc(50% - 10px); width: 100%; flex-basis: calc(50% - 10px); padding: 5px;" /> <img src="https://assets.site-static.com/userfiles/4845/image/white-photo-1.jpg" alt="White Photography in Calgary" style="max-width: calc(50% - 10px); width: 100%; flex-basis: calc(50% - 10px); padding: 5px;" /> <img src="https://assets.site-static.com/userfiles/4845/image/green-photo-2.jpg" alt="Green Photography in Calgary" style="max-width: calc(50% - 10px); width: 100%; flex-basis: calc(50% - 10px); padding: 5px;" /> <img src="https://assets.site-static.com/userfiles/4845/image/white-photo-2.jpg" alt="White Photography in Calgary" style="max-width: calc(50% - 10px); width: 100%; flex-basis: calc(50% - 10px); padding: 5px;" /> <img src="https://assets.site-static.com/userfiles/4845/image/green-photo-3.jpg" alt="Green Photography in Calgary" style="max-width: calc(50% - 10px); width: 100%; flex-basis: calc(50% - 10px); padding: 5px;" /> <img src="https://assets.site-static.com/userfiles/4845/image/white-photo-3.jpg" alt="White Photography in Calgary" style="max-width: calc(50% - 10px); width: 100%; flex-basis: calc(50% - 10px); padding: 5px;" />
How to Take Great Green Photos: Exterior Real Estate Photography Tips
Good real estate photography is not just about snapping a quick photo with your smartphone; it's an art that requires attention to detail, planning, and a bit of creative flair. Capturing the exterior of a home in the most flattering light can make a significant difference in how quickly a property sells and even in the selling price. Whether you're a real estate agent, a professional photographer, or a homeowner looking to list your property, here are some guidelines to help you take the best possible exterior shots.
Plan Ahead
Golden Hours: The best light for exterior photography usually occurs during the golden hours—shortly after sunrise or just before sunset. The soft, diffused light helps to minimize harsh shadows and highlights the home’s features.
Weather Conditions: Ideally, aim for a day that is partially cloudy to avoid washed-out photos. Overcast weather can also provide even lighting but may lack the vibrancy of a sunny day.
Scout the Location: Before the actual shoot, visit the property to identify the best angles and features you’d like to highlight.
Equipment Matters
DSLR or Mirrorless Camera: A high-quality camera with manual settings will allow you greater control over exposure, aperture, and ISO settings.
Wide-Angle Lens: A wide-angle lens (between 18-24mm) can capture more of the property, making spaces appear larger and more open.
Tripod: A tripod ensures stability and allows for longer exposure times, which is especially useful in low-light conditions.
Composition and Framing
Elevate the Camera: A slightly elevated angle can make the property look majestic. Consider using a small ladder or even a drone for a unique aerial perspective.
The Rule of Thirds: Keep the rule of thirds in mind to create well-balanced images. Place key elements—like the front door or unique architectural features—along the grid lines or at the intersections to capture the viewer’s attention.
Include Some Landscape: While the focus is on the home, including some of the <a href="https://www.calgary.com/blog/home-landscaping-guide/">landscaping around your home</a> can provide context and make the property more appealing.
Final Touches
Post-Processing: Use software like Adobe Lightroom or Photoshop to correct any distortion, adjust lighting, and enhance colors.
Review and Revise: Always review your photos and retake any that are less than perfect. It’s better to have too many options than not enough.
Tips for Success When White Photography is Necessary
If it's too late to take green photos to sell your home, that doesn't mean you can't still have a successful home sale. When you want to take great white photos, some of the following tricks can help you.
Avoid Taking Photos in the Middle of the Day
Stay away from the middle of the day.
Taking photos in the middle of the day during winter isn't the best idea. This is because the strong sunlight can make harsh shadows and contrasts, and lead to over-exposure when it glints and reflects off the snow. You want to show a property in the best possible light, both in a real and metaphorical sense. If you take photos mid-day while there's snow on the ground, your photos are more likely to look washed out and over-exposed.
High noon might sound cool in movies, but it's not great for photography. The sun at its highest can cast deep shadows that hide details and change the look of things.
The best times for taking photos are early in the morning or late in the afternoon. The 'golden hour' light is soft and warm, and it can make colors look vibrant. Plus, it adds depth to your pictures.
Remember, you're not just snapping photos, you're telling a story. You want potential buyers to imagine themselves living in the home.
Fine Tune Your Exposure
When you take pictures of your home exterior in the winter, you need to adjust your camera's exposure just right. This way, your photos don't look dull and gray or blown-out and overly white. Changing the exposure can be tricky, but it's important for making your photos look beautiful.
Here are a few tips:
Don't make your shots too dark (underexposed) or too bright (overexposed). Both can make you lose details in your photo.
If your photo is underexposed, it will be too dark and important parts can be hidden.
If it's overexposed, the colors and bright spots can look washed out.
Try playing around with your camera's settings until you find the perfect mix.
When is the Best Time of Day to Take Real Estate Photos?
If you're a beginner photographer or a real estate agent, you might ask, 'When is the best time to take pictures of a house?' Well, the answer is during 'golden hours'. This is either just after the sun rises or before it sets. These times are great for taking pictures of houses because the light is soft. It shows off the features of the house without creating dark shadows or making parts of the picture too bright. This is true even when taking pictures of houses in winter.
Try not to take photos in the middle of the day. This is when the sun is strongest and can create harsh shadows. If you're taking photos early in the morning or late in the afternoon, a tripod can help keep your camera steady when there's less natural light.
However, once you find the right time of day, you need to also make sure to capture the best angles of your home. Good lighting is key, so aim to take your photos when it's bright and sunny, and try to have the sun behind you as much as you can. This helps avoid dark shadows or overly bright spots.
Other Elements of Great Landscape Photography
In addition to good lighting, there are other things to think about in landscape photography. These include composition, perspective, and depth of field. These elements can make a big difference in how good your photos look.
Composition: This is about how things are placed in your picture. You want to arrange things in a way that makes the viewer's eye move through the scene. The Rule of Thirds suggests that an image can be divided into nine equal parts and that the subject should be placed along these lines or their intersections. Symmetry, when one half of your image mirrors the other half, can make your photo pleasing to the eye. Leading Lines are lines that lead the viewer's eye to the main subject.
Perspective: Changing how you look at your scene can change how your photos feel. Taking a high angle photo from above the subject, an eye-level photo at the same level as the subject, or a low angle photo from below the subject can all create different perspectives.
Depth of Field: This decides which parts of your photo are sharp. A shallow depth makes only the subject sharp and the background blurry, while a large depth makes everything sharp.
Learning these techniques can help you make photos that really connect with people. Have fun taking photos!
Selling a Home in the Winter? Shoot for Green Photography Sessions
When you want to sell your house, think about setting up times to take pictures of your house surrounded by beautiful plants and trees.
It's all about showing off how nice your house looks when the flowers are blooming and the trees are full of leaves.
Keep in mind, what people first see matters a lot. The outside picture of your house could be what makes someone decide to buy it when they're looking at houses online. With green photography, you're not just selling a house; you're inviting people to be a part of a friendly neighborhood and a great way of life.
If you use this method when you're selling your house, it could help you sell your house faster and maybe make more money. There's no downside, but there's a lot to gain!
Elevate Your Property's Appeal With FREE Green Photos From The Justin Havre Real Estate Team!
Are you planning on selling your house this winter? Navigating the real estate market can be challenging, particularly in the colder months when your property might not look its best. That's where we come in. At The Justin Havre Real Estate Team, we know that presentation is everything. While a winter wonderland may offer cozy vibes, it's not always the best setting for a sale.
To give your property the competitive edge it deserves, we're offering FREE* Green Photos. <a href="https://www.calgary.com/blog/professional-real-estate-photography/">Our professional photographers</a> will visit your home to take high-quality exterior photos that showcase your property in its best light, literally and figuratively. And the best part? It won't cost you a dime!
We're committed to helping every homeowner maximize their property's value for a successful, stress-free sale. With our help, not only will your home look better, but you'll also get better offers. So why wait?
Take the Next Step: Book your FREE* Green Photo Session with The Justin Havre Real Estate Team today and turn your home into the hot property everyone wants, even in the coldest months!
*Terms and Conditions apply.2023-08-28T08:55:53-07:002023-12-18T13:04:02-07:00Justin Havretag:calgary.com,2012-09-20:2018912 Fall Real Estate Tips: Is Fall a Good Time to Buy or Sell a House in Calgary?<img src="https://assets.site-static.com/userfiles/4845/image/fall-real-estate-tips-calgary.jpg" alt="Fall Real Estate Tips: Selling or Buying a Home in Calgary During the Autumn Season" style="display: block; margin: 20px auto;" />
The Boy Scouts and Girl Scouts had it right when they adopted the motto “Be Prepared”. For <a href="https://www.calgary.com/sellers/">Calgary’s home sellers</a> and buyers trying to buy or sell a home this autumn, I offer this variation on a theme: Be Prepared to Act.
The changing colors of leaves, the crispness in the air, and the aroma of pumpkin spice everywhere signal the onset of fall. While these trademarks of the season have their own charm, the real estate market also experiences unique shifts during this period. Dive into understanding the fall real estate market dynamics and discover why autumn can be an opportune season for both buying and selling homes.
If there’s one takeaway from these 14 ‘Get Ready’ tips, it’s this: Be prepared to act with knowledge when selling or buying a home this fall.<br /><br />Benefits of Buying and Selling a Home in Fall
Less Competition
The bustling spring and summer housing markets give way to a relatively calmer fall market. Fewer people are looking to buy or sell, which means less competition. For buyers, this can translate to less pressure in bidding wars and a better chance to get a property at a desirable price. Sellers, on the other hand, might face <a href="https://www.calgary.com/blog/what-to-expect-when-selling-a-home-in-a-buyers-market/" title="Selling Your Home in a Buyer's Market">less competition in listing their homes</a>, potentially making their property stand out more prominently among the listings.
Motivated Sellers
As the year-end approaches, many sellers are eager to close deals before the holiday season. This could be for various reasons - from wanting to move to a new home before the holidays, financial motivations, or even tax implications. A motivated seller is often more flexible during negotiations, which can give buyers an edge in getting favorable terms, rather than having to worry about <a href="https://www.calgary.com/blog/how-to-buy-a-home-in-a-competitive-market/">competing with other buyers in a hot market</a>.
Seasonal Beauty
There's an undeniable charm to homes in the fall. As leaves turn golden and russet, properties can appear even more picturesque. For sellers, this is the time to leverage seasonal beauty, making sure the exteriors are well-maintained and using this natural beauty to enhance curb appeal. Buyers can relish the opportunity to see homes at perhaps their most aesthetically pleasing stage, getting a glimpse of how lovely their potential new home could look during this season.
Pros and Cons of Selling a Home in the Fall
Pros of Selling a Home in the Fall:
Less Competition: Fewer homes are typically listed in the fall than in spring or summer, which means less competition.
Serious Buyers: People who shop for homes in the fall are usually more serious buyers, as they often want to move in before the winter or the end-of-year holidays.
Atmospheric Staging: Fall foliage can make homes and landscapes look particularly inviting, creating a cozy atmosphere for potential buyers.
Flexible Closing Dates: Buyers might be more willing to work with your schedule if they're trying to secure a home before winter.
Holiday Selling Point: Buyers might be envisioning their new home for the holidays, making them more motivated to close before Thanksgiving or Christmas.
End-of-Year Tax Advantages: Some buyers want to purchase a home before the end of the year for tax purposes.
Cons of Selling a Home in the Fall
Shorter Days: With daylight saving time and shorter days, there's less daylight to showcase your home, which might require more effort for lighting during showings.
Weather Challenges: Fall can bring unpredictable weather, from rain to early snow in some areas, potentially making it more difficult for potential buyers to visit.
Busy Schedules: Fall is back-to-school season, and many families might be too preoccupied to go house hunting.
Home Maintenance: Falling leaves mean more yard work to keep the property looking its best. Additionally, if there are any issues with the home's heating system or insulation, they may become more evident in colder months.
Price Negotiations: Since there are typically fewer buyers in the market during fall, sellers might encounter more price negotiations.
Moving in Winter: If you successfully sell in the fall, you might end up moving in the winter, which can present its own set of challenges.
Selling Tips to Sell a Home in the Fall
As a homeowner, selling your home in the fall can present unique challenges. To be successful, you'll need to make sure your home is properly staged for the season, maintain its curb appeal, complete any necessary repairs efficiently, develop a flexible pricing strategy, and use quality real estate photography to showcase it. These steps will help ensure that your home stands out among the competition and gets sold fast!
Embrace Realistic Pricing
While the <a href="https://www.calgary.com/real-estate/">real estate market in Calgary</a> remains strong, gone are the days of skyrocketing prices. <a href="https://www.calgary.com/blog/is-your-home-priced-to-sell/">Set a realistic price for your property</a> based on current market conditions and comparable sales data. Overpricing can lead to extended days on the market, while a competitive price will attract serious buyers and potentially generate multiple offers.
By employing a flexible pricing strategy, you can ensure that you're getting the best price for your home. Understanding market dynamics and being open to negotiations are key components of any successful pricing strategy, especially in real estate's off-season.
Showcase Your Property With Home Staging for Autumn
With supply still so limited, presenting your home in the best possible light gives you a competitive edge to stand out above others. Invest in <a href="https://www.calgary.com/blog/get-the-upper-hand-by-staging-your-home/">home staging</a> to enhance your property's appeal, as a well-staged home can create a lasting impression on potential buyers and increase the chances of a quicker and more profitable sale. If you’re thinking about selling your home sooner than later, right now is the perfect time to invest in green photography before the snow starts to hit the ground. Your home will present much better with professional photography done against a backdrop of warm summer hues.
To get your home ready for the fall market, staging it with seasonal decor can help create a cozy atmosphere that will entice buyers:
Fall Decorating: Bring in autumnal accents like pumpkins and gourds to give a festive feel. Incorporate neutral colors and warm textures to evoke feelings of comfort.
Cozy Ambiance: Illuminate your home with soft lighting and inviting scents. Add extra blankets, cushions and throws to enhance the atmosphere.
Seasonal Colors: Accentuate outdoor spaces with vibrant oranges and yellows to reflect the changing season. Plant mums or other seasonal flowers for added curb appeal.
Maintaining Curb Appeal
Now that you've addressed home staging for the season, let's talk about another important part of preparing your home for a successful sale - <a href="https://www.calgary.com/blog/the-basics-of-curb-appeal-for-home-sellers/">maintaining curb appeal</a>. In Calgary's fall market, this can be a challenge as the weather starts to turn colder. With seasonal landscaping like pruning bushes and trimming trees, outdoor lighting to make sure it looks inviting after dark, <a href="https://www.calgary.com/blog/winterizing-your-home/">winterizing your home</a> (including windows and doors) to avoid damage from cold temperatures, roof maintenance to make sure everything stays dry during the rainy months, and any necessary curb repairs - these are all things that can help boost your home's value when put on the market. Taking care of them now will ensure buyers see your property in its best condition!
Use Quality Real Estate Photography
Using <a href="https://www.calgary.com/blog/professional-real-estate-photography/">quality real estate photography</a> can help showcase the beauty of your home and give potential buyers an accurate representation of what they'll be investing in. In Calgary's fall home market, here are 8 'get ready' tips for sellers and buyers:
Capturing the Beauty: Using natural light, professional photographers, and powerful editing software can create stunning photos with clarity and depth.
High Resolution Photos: Investing in high-resolution photos will ensure that all details are visible for buyers.
Virtual Tours: For larger homes or properties, consider creating a <a href="https://www.calgary.com/calgary-virtual-tour-open-houses/" title="Calgary Homes With 3-D Virtual Tours & Open Houses">3-D virtual tour</a> to give viewers a better understanding of the layout.
Drone Photography: Utilizing <a href="https://www.calgary.com/blog/drones-in-real-estate/">drone photography</a> is a great way to capture unique angles of your home or property from above.
Leverage Digital Marketing
The digital world plays a big role in the modern real estate landscape. Engage in a robust online marketing strategy with high-quality photography and virtual tours to capture the attention of buyers browsing properties from the comfort of their homes. Use social media platforms and online listings to broaden your property's reach.
Pros and Cons of Buying a Home in the Fall
Pros of Buying a Home in the Fall:
Less Competition: With fewer buyers typically looking in the fall compared to the spring or summer, you may face less competition in bidding wars.
Motivated Sellers: Sellers who list their homes in the fall might be more motivated to sell before the end of the year, which could lead to better negotiation opportunities.
Potential Price Reductions: Homes listed in the summer that haven't sold by fall may see price reductions.
Tax Advantages: Closing before the end of the year can mean tax deductions for mortgage interest, property taxes, and interest costs.
Holiday Moving: If you buy in early fall, you can settle in your new home by the holidays.
Better View of Property Issues: Fall weather can highlight potential problems in a home, such as poor insulation or a faulty heating system.
Cons of Buying a Home in the Fall:
Fewer Inventory Options: There might be fewer homes on the market in the fall, which can limit your choices.
Time Constraints: With the holidays approaching, you may feel rushed to close and move in.
Weather Challenges: Fall and the subsequent winter season can make moving conditions difficult, especially in colder regions.
Busy Schedules: For families, fall is back-to-school season, and the added hustle and bustle can make house hunting more challenging.
Shorter Days: Less daylight can make it harder to schedule viewings, especially if you're working during the day.
Potential for Deferred Maintenance: Homes on the market in fall might have been listed for a while, leading to potential maintenance issues if the seller hasn't kept up with the property.
Buying Tips to Buy a Home in the Fall
As a potential buyer in the Calgary fall home market, there are a few key points to bear in mind. Securing your financing early is important for buyers, as it gives you greater negotiation power. Additionally, all buyers should inspect the property thoroughly and consider closing dates carefully when negotiating. Lastly, buyers should be aware of their financial situation and use that to their advantage during negotiations.
Get Pre-Approved
In a market where properties move swiftly, being <a href="https://www.calgary.com/blog/whats-all-the-buzz-about-pre-approved-mortgages/">pre-approved for a mortgage</a> is a must. Having your financing in place early will not only give you a leg up on the competition but also helps you set a realistic budget when searching for your dream home in Calgary.
Taking the time to understand pre-approval benefits, explore financing options, and research <a href="https://www.calgary.com/blog/how-your-mortgage-affects-interest-rates/">current mortgage rates</a> can help you get a better deal on your home purchase. <a href="https://www.calgary.com/blog/home-buying-credit-score/">Your credit score will also impact how much you'll pay for your loan</a>, so it's important to ensure it has no issues before applying for a mortgage. Doing this now will help you move quickly when that perfect home pops up on the market, so don't wait until it's too late!
Inspect the Property Thoroughly
Take the time to thoroughly inspect any property you are considering purchasing during the fall season. This is especially important given that cooler weather can bring to light a range of potential issues that require assessment, such as <a href="https://www.calgary.com/blog/signs-your-roof-needs-replacement/">roof damage</a> or gutter maintenance needs. A thorough <a href="https://www.calgary.com/blog/the-benefits-of-home-inspections/">home inspection</a> will help identify any potential issues and determine if they need immediate attention or can be addressed down the line.
Utilize Your Negotiation Power
<a href="https://www.calgary.com/blog/the-skill-and-art-of-calgary-real-estate-negotiations/">Negotiating your real estate transaction</a> during the fall season can give you an advantage, as urgency may be on the side of the seller. Leveraging market conditions and understanding the motivations of sellers can help buyers gain more negotiating power:
Understand property value in relation to current market conditions.
Utilize buyer incentives to your benefit.
Use negotiation tactics that demonstrate confidence.
Buyers should consider their options carefully when faced with a motivated seller and use strategies that will ensure they get the best deal possible. With knowledge of Calgary's fall home market, buyers can take advantage of opportunities and secure a great deal on their new home.
Be Open-Minded
The fall market might offer more variety in available properties, but it's important to be open-minded about your criteria. Focus on the most critical aspects of a home, like location, condition, and potential for future growth, while remaining flexible on less crucial factors.
Do Your Research
Knowledge is power in the world of real estate, but only if you use it. Take the time to research Calgary's neighborhoods, market trends, and recent sales in the area you want to look. Understanding the local market dynamics will empower you to make informed decisions during negotiations and avoid potential pitfalls.
Autumn Real Estate Tips For Both Sellers and Buyers
Prioritize Professional Guidance: Navigating the Calgary real estate market requires expertise and finesse. Engaging the services of a <a href="https://www.calgary.com/blog/using-a-real-estate-agent/" title="Why You Should Hire a Real Estate Agent">qualified and experienced real estate advisor</a> is invaluable. A knowledgeable advisor will guide you through the process, negotiate on your behalf, and ensure a seamless experience.
Be Patient and Persistent: While Calgary's fall market is expected to be more balanced, the right property or buyer may not come along immediately. Exercise patience and stay persistent in your home search or sale efforts. Trust that the right opportunity will present itself.
Buy Or Sell Your Calgary Home This Fall With The Justin Havre Real Estate Team
The fall home market in Calgary can be tricky, but with the right preparation and knowledge, buyers and sellers can make the most of it. It's important to understand the particular challenges that come with this time of year, such as fewer available listings or tight moving deadlines. As long as you know what you're getting into, it shouldn't be too difficult to find a great deal for your needs - just like hunting for a needle in a haystack!
Ready to navigate the Calgary fall market with confidence? <a href="https://www.calgary.com/contact/">Contact The Justin Havre Real Estate Team today</a> and let us guide you to your perfect home or sale!2023-08-17T13:16:47-07:002024-03-05T07:30:28-07:00Justin Havretag:calgary.com,2012-09-20:18685Decorate Your Home Just like the Pros with These Easy Design Tips<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="/uploads/agent-1/interior-design-process.jpg" alt="The Best Interior Design Practices for Renovating Your Home" width="475" />Have you ever walked into another person's home and wished that your home could look just like theirs? Some people have a natural flair for decorating, while others need to call in the pros for some assistance. If you're one of the latter, here are some design tips for you that the pros use to make homes look stunning, homey and elegant.
Decorating Your Home With Timeless Decorating Strategies
To ensure your design decisions have the biggest impact, be sure to follow these design rules that will help your home stay open and welcoming.
Choose Neutrals And Whites
If your decorating flair isn't what it should be, stick to white and neutrals as a base for your decor. Once you start extending yourself into bright colours you'll, more often than not, just do yourself in. Neutral colours are safer to work with, and you won't end up clashing colours together that make your room look like an eyesore.
Not all neutral colours are boring either. White, fluffy luxurious towels are a beauty to behold in any bathroom. When combined with light browns and cream colours you'll end up with a powder room that looks professionally decorated just by sticking to these neutral colours that can't do you any harm.
Keep Your House Bright
A dark room can get very depressing and no matter what you do to the room in terms of decorating, it will never seem to look just right. Make sure that you are <a href="https://www.calgary.com/blog/a-short-guide-to-lighting-each-room-of-your-home/">lighting up every room</a> and use accent lighting in the dark corners. Not only will your room benefit from added light but so will your mood!
Keep Things Simple
The less clutter, the better. Every piece of furniture doesn't have to have something on it. Have a few pieces of furniture that are empty except for perhaps a lamp. This will help create space in the room and will help you to keep things clean. It's a lot easier to dust furniture that is mostly bare than it is to have to unload an overstuffed shelf to remove the dust and then load it back up again.
Move Your Furniture Away From The Walls
All of your furniture should be at least six inches away from the walls. This gives the room a more spatial appearance and you'll also protect the paint job this way. Try it and see for yourself what a difference it will make to the room using this one simple tip.
Encourage The Minimalistic Look
Your decorating should be focused on getting you towards a more <a href="https://www.apartmenttherapy.com/seeking-simplicity-how-to-start-living-a-more-minimal-lifestyle-210936" target="_blank">minimalistic lifestyle</a>. Choose furniture that is slender and well-defined and stay away from bulky furniture. It just tends to lose its shape over time and end up looking sloppy. When you keep things simple with neutral colours, it will be easy to create a professional-looking design for your home with very little effort. You'll also avoid the high costs of calling in a professional to make your house look beautiful and stunning.
Wood Remains In Style
Has there ever been a time when wood hasn't been in style? Fortunately, wood has always remained one of the stable design features that has been chosen throughout the years and can be used with certainty in any room in the house.
Welcome Back Wallpaper
While wallpaper was never really out, it was put on the sidelines for quite a few years. One of the reasons why it has been sidetracked is its reputation for being permanent. It used to be that attaching wallpaper meant that it would be there for years since it was so difficult to remove. Nowadays, however, there is state-of-the-art adhesive technology that allows you to peel off the backing and stick the wallpaper up easily. This new type of wallpaper can be repositioned time and time again without losing its stickiness.
Green Is Still In
The push for environmentally friendly designs is likely to continue. Anything you can do to green up your space, even if it is something as small as adding extra plants to your home or switching to LED bulbs, will keep you on the riding wave of this design trend.
Design From The Outside In
You'll want to make sure that your <a href="https://www.calgary.com/blog/decor-and-design-ideas-for-your-backyard/">outdoor design</a> matches what can be found on the interior. For example, if you are leaning towards a warm earthy tone inside, the same type of ambience should be found on the exterior. Simple things like a wooden mailbox or a cedar chair on the front porch can set the atmosphere for the home from the outside in.
Popular Summer Design Trends in Calgary
Are you looking to update your home decor with this summer’s hottest trends? Here are a few design tips to help bring some inspiration to your decor.
Bright Colours
This summer’s colour trend is neutral hues, such as white, light beige and with a pop of colour such as a turquoise. This colour combination will be reminiscent of a tranquil beach. Try using a bright colour in a rug, cushions, or accessories like vases.
Bring Nature Inside
<img style="display: block; margin: 20px auto;" src="https://assets.site-static.com/userfiles/4845/image/nature-inside.jpg" alt="Bringing Nature Inside Your Home" />
Sticking with our beach feel, don’t be afraid to bring nature inside with plants like ferns or use natural woods as an accent in chairs or side tables. Even using plants in pictures, artwork or other accessories is a great way to incorporate this design element.
Extend Your Living Space
<img style="display: block; margin: 20px auto;" src="https://assets.site-static.com/userfiles/4845/image/extend-living-space.jpg" alt="How to Extend Your Living Space" />
There’s nothing more inviting than looking across your room to open French or sliding doors to expose your backyard living space. Look to add cozy furniture, fire tables and outdoor area rugs to bring colour and warmth to your backyard getaway. Having a comfortable place outdoors to read a book or relax in the sunshine extends the living area of your home into the outdoors.
Begin Your Home Design Process Today
Designing an entire home with cohesion and an overall design theme can be a challenge for the average homeowner. However, if homeowners approach the process with planning and foresight, a beautiful and uniquely designed home will be sure to come and make the household happy for years to come.2023-08-15T10:00:00-07:002023-08-24T05:50:57-07:00Justin Havretag:calgary.com,2012-09-20:18861The Best Pizza Parlors in Calgary, AB
<img class="rfx-topimg" style="margin-left: 15px; margin-bottom: 15px; width: 475px; float: right; padding-left: 10px;" src="https://assets.site-static.com/userfiles/4845/image/pizza-194451_640_600.jpg" alt="The Best Pizzerias in Calgary AB" />Pizza is an everyday staple all across Canada, and in Calgary, there's no exception. Calgary has a number of fantastic pizzerias that Calgarians and visitors can explore whenever they get a craving for a hot, fresh slice of pizza. Check them out here:
Coco Brooks Pizza
Coco Brooks was started by Richard Osiowy out of desperation and a desire to have access to top quality pizza. When Richard first moved his family to Calgary, Alberta, he discovered there was no way for him to satisfy his love of pizza. After visiting the Las Vegas Pizza Expo, he decided to turn his garage into a test kitchen to see if he could create a quality pizza that was to his liking.
Needless to say, he succeeded. After friends and neighbours tried his delicious and unique recipes, news quickly spread and as a result Coco Brooks was born. He opened his first location in 1999 on Burbank Road. Two years later he opened his second location and that was followed by a third location in 2010.
<a href="https://cocobrooks.com/menu" target="_blank">The menu at Coco Brooks</a> consists of more than just pizza. You will also be able to enjoy salads, pasta, calzones, subs and desserts. If you have a sensitivity to gluten, you can order off of their <a href="https://www.cocobrooks.com/menu/pizza/eight-inch-gluten-free-crust/" target="_blank">gluten free menu</a>.
Michael's Pizza Restaurant
<img src="https://assets.site-static.com/userfiles/4845/image/michaels-pizza-restaurant.jpg" style="display: block; max-width: 100%; width: 100%;" alt="Michael's Pizza Restaurant" />
Because we love a great family-run business, we have to include Michael’s Pizza in our list. It has been family-run and in business since 1981. They use only fresh, local ingredients, and their crust and tomato sauce is prepared fresh every day. Their thick-crust pizzas are sure to please everyone in your family. PS, they have more than just pizza, too!
Stromboli Inn
It may have been closed for a little while, but its back. This small restaurant provides calabrese style pizzas and many other interesting dishes. You're sure to find something great on the menu.
Pizza Bob's - 2610 Kensington Road NW
Pizza is a great choice late at night and it's available all over the city. Pizza Bob's is another great choice, if you like wood-fired pizza. They also provide karaoke and plenty of other choices.
Beer Revolution
<a href="http://beerrevolution.ca/" target="_blank">Beer Revolution</a> is the place to grab a pizza. One of the favourites among the locals is the Wilbur, which includes bacon, salami and sausage. The appetizer section includes sticky curry wings, and pizza spring rolls. Other offerings include the Junior Boy, truffle fries, 24 beers on tap and a variety of other mixed drinks. Open from 11 am to 12 pm Sunday and Monday, 11 am to 1 am Tuesday through Thursday, and 11 am to 2 am on Friday and Saturday.
The Mash
<img src="https://assets.site-static.com/userfiles/4845/image/the-mash-pizzeria.jpg" style="display: block; max-width: 100%; width: 100%;" alt="The Mash Pizza" />
Now with 7 locations across Calgary and surrounding areas, The Mash pizza is made with upcycled spent grain. There’s great gluten-free and vegetarian options as well as hand-crafted Half Hitch Brew beers. Their dill pickle and bacon pizza is "sure to convert any anti-pickle member of your group."
GAGA Pizzeria
Pizzeria Gaga is Calgary’s favourite Italian-style pizza spot with the best grab-and-go pizza in town. It’s a charming little pizzeria located on 12th Avenue featuring lunch and dinner. Their mission is that they believe in good food being the key to happiness with a goal to ensure everyone that tries a slice of their pizza leaves happy.
GAGA Pizzeria provides some of the best pizza you will find in Calgary. They have a goal to make food with happiness and make food that makes people happy.
The grab-and-go pizza is great and you won't find anything else like it in the city. Here's what you can expect when you dine at GAGA Pizzeria.
You will find freshly baked pizzas, sandwiches, calzones, salads, soups and more on <a href="http://pizzeriagaga.ca/menu.php" target="_blank">the menu</a>. They even let you choose whole wheat or white flour for the crust.
The restaurant is located at 1236 – 12th Avenue SW in Calgary. Their hours include Monday through Thursday from 10am-8pm, Fridays from 10am-10pm and Saturdays from 11am-8pm with no hours on Sunday. They feature freshly baked pizzas, homemade soups, daily sandwiches and so much more. Choose from whole wheat or white flour.
You can also enjoy baklava or the Milana (sweet pizza) for dessert. They do provide a few grab and go options to make it easy if you're in a hurry.
If you're planning event, <a href="http://pizzeriagaga.ca/catering.php" target="_blank">you can hire GAGA to handle your catering</a>. They do more than just bring pizzas. You can enjoy fruit platters, meat/vegetable platters, pizzas, and so much more. This is the perfect option for many different types of events.
The pizzeria is open from 10am to 8pm, Monday through Thursday, from 10am to 10pm on Fridays and from 11am to 8pm on Saturdays. They are closed on Sundays and long weekends.
Bensonhurst Pizza Company
A great new spot for late night eating, this pizza place provides plenty of excellent pies. When you're hungry late, they will take care of your needs with pizzas to go and dine in options.
Savino
<img src="https://assets.site-static.com/userfiles/4845/image/savino-pizzeria.jpg" style="display: block; max-width: 100%; width: 100%;" alt="Savino Pizza" />
A wood-fired pizza in a food truck? No problem. Savino has been making some of the best pizza around since the day they opened. Their food truck can cater any event from 20 - 200 people. Their ingredients are grown in their backyard, and that’s where the food truck is too! Order pick up or delivery and definitely look into their catering option for your next event.
Una Pizza + Wine
Nestled into an unassuming location at 618 17th Avenue Southwest, Una Pizza + Wine brings pizza out of the realm of the casual and makes it a destination. They offer an impressive array of custom made thin crust California-style pizza and then pair it with an even more impressive wine list.
Una Pizza + Wine likes to take a familiar pizza and give it a little twist. You can see this in their sausage pizza. It starts with a high quality Italian sausage, and then swerves a little off the beaten path with the cheese. A nutty and buttery Caciocavallo cheese oozes over the fresh chopped basil and tomato sauce, sprinkled with flaky Grana Padano hard cheese.
Pair this pizza with a glass or two of the sumptuous house red wine, and you have a pie worth going out of your way for. Una Pizza + Wine provides a surprisingly diverse cellar for such a small location. They offer multiple varieties of sparkling, whites and reds, many available per glass or in a one-half litre carafe. The staff is very knowledgeable about the offerings so don’t be afraid to ask.
Una Pizza + Wine has their own beehives that they keep locally, so be sure to try the honey truffle oil. For a spicier kick, give your pizza a swirl of the chili garlic oil. All of their pizzas are available with gluten-free crusts and the desserts are gluten-free masterworks as well.
Unfortunately, <a href="http://www.unapizzeria.com/" target="_blank">Una Pizza + Wine</a> does not take reservations, so arrive early. Take-out is available, but can take up to a half-hour to be ready. If you are looking for a fun spot for dinner with friends, head to Una tonight. If you are in the mood for pizza with a dash of fun, this is the place you want to go.
Without Papers Pizza
Sharing a pizza is a great way to start your night and there are a number of good spots in Calgary. However, Without Papers Pizza is one of the better choices. they provide all types of specialty pizzas, such as the Shroom pizza, classic Margherita or the Hog Wild. They also offer plenty of delicious desserts to finish off your night.
Pulcinella
<img src="https://assets.site-static.com/userfiles/4845/image/pulcinella-pizzeria.jpg" style="display: block; max-width: 100%; width: 100%;" alt="Pulcinella Pizza" />
As they say at Pulcinella, these pizzas are "straight outta Naples." Their traditional wood-fired baking puts just the right char on the crust, and it’s true to its Napoletana roots. And if for some reason you don’t feel like pizza, they have great home-made pastas as well.
Rock Wood Fired Pizza and Spirits
The Rock Wood Fired Pizza and Spirits restaurant provides a different way to enjoy pizza in Calgary. Most pizza places just provide a decent pie and maybe a few beers to go with your pizza. However, at The Rock Wood Fired Pizza and Spirits location in Calgary, there's more to it than just good pizza.
As a way to give back to the community, this pizza restaurant stated the School of The Rock, Battle of the Bands. This was started by the founders of the restaurant in 2007. This event is just one way the restaurant helps to give back. The money raised helps to support local school music programs to keep classic rock alive in the youth.
The Rock Wood Fired Pizza and Spirits restaurant is an edgy pizzeria offering unique micro brews, incredible classic rock music and great pizza. Their world famous buckets are a huge hit with fans and they also provide beer flights for the indecisive.
A number of specialty pizzas are offered from the After Midnight topped with Italian meatballs, sausage, black olives and classic cheese to the Evil Ways with pesto cream sauce, artichoke hearts, spinach, red onions, sundried tomatoes and mozzarella. Whether you prefer to build your own or try one of the specialty pizzas, you won't be disappointed.
Grab a Slice in Calgary Today
No matter what your pizza preferences are, Calgary is sure to have a slice that's just right for you. Check out one of these great Calgary pizza parlors today to get a taste of everything this city has to offer.
2023-07-31T07:15:00-07:002023-07-31T08:13:38-07:00Justin Havretag:calgary.com,2012-09-20:19177The Rise of Smart Homes: Transforming the Way We Live<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/smart-home-tech.jpg" alt="Smart Home Technology You Should Know About" width="475" />The dream of science fiction writers is becoming a reality. Meet the smart house, a home with computers responsible for all operations.
The main characteristics of a smart house incorporate comfort, functionality, and energy efficiency. Smart homes adapt to your habits. It will turn off lights when everyone is asleep, switch off unnecessary electrical outlets, and arm your security alarm.
Smart home technology can regulate your thermostat, prompt the coffee maker to brew your morning cup of coffee, or even wake you with your favourite tune. Your home can even become the perfect security guard—watching every window and door for external threats.
In every stretch of the imagination, smart homes are transforming the way we live.
How it Works
Smart homes simultaneously offer simplicity and complexity, all at the same time.
The principle of operating a smart home consists of distributed intelligence technology on one central computer.
In a distributed system, there is no central computer. The term “distributed” means that each node has its own intelligence. Together, the nodes communicate in a common controlled network and exchange information. This increases reliability by an order of magnitude—failure of an individual device does not affect the system as a whole—and makes it flexible and easily expandable.
A distributed system is in contrast to other systems where the “Brain” of the house is responsible for the operation of all functions. In these systems, a processor failure could leave the entire house unmanageable.
Enhanced Comfort and Convenience
One of the primary benefits of a smart home is the unparalleled level of comfort and convenience.
Imagine arriving home after a long day at work, and your house welcomes you with the perfect ambiance. Smart lighting systems can adjust the brightness and color temperature according to your preferences, creating a soothing and relaxing atmosphere.
Similarly, a smart thermostat can learn your temperature preferences and automatically adjust the heating or cooling to ensure optimum comfort, all while reducing energy consumption.
Improved Energy Efficiency
Smart homes play a vital role in promoting energy efficiency and <a href="https://www.calgary.com/blog/sustainable-construction-technology/" title="Sustainable Technology in Home Construction">environmental sustainability</a>. Homeowners can actively monitor and manage their energy consumption by integrating intelligent devices and systems.
Smart Meters
Smart meters provide real-time data on electricity usage, enabling individuals to make informed decisions regarding energy conservation. Smart lighting systems can automatically adjust brightness levels based on occupancy or natural light, significantly reducing energy waste.
Smart Thermostats
Smart thermostats offer precise temperature control and allow users to create schedules based on occupancy patterns. This ensures that heating and cooling systems operate only when necessary, leading to substantial energy savings.
Smart Appliances
<a target="_blank" href="https://blog.irobot.com/smart-appliances/">Smart appliances</a>, such as washing machines and dishwashers, can optimize their cycles based on load size, further reducing water and energy usage. By minimizing wasteful consumption, smart homes contribute to a more sustainable future.
Advanced Security and Safety Features
Security is a paramount concern for homeowners. Smart homes provide advanced solutions to address these concerns.
With the integration of a smart security system, homeowners can remotely monitor their homes and receive instant notifications of any suspicious activities.
Smart Cameras: <a href="https://www.calgary.com/blog/how-to-choose-home-security-cameras/">Smart cameras</a> offer real-time video surveillance, allowing individuals to protect property from anywhere in the world.
Smart Locks: Smart locks and doorbell cameras provide access control and visitor management. Homeowners can remotely grant access to authorized individuals, eliminating the need for physical keys.
Smart Smoke Detectors: Smart smoke detectors and carbon monoxide sensors offer early detection of potential hazards and send alerts directly to the homeowner’s phone, ensuring prompt response and potentially saving lives.
With all the advantages of smart home technologies, don’t forget that you need to choose sufficient <a target="_blank" href="https://hellosafe.ca/en/home-insurance">home insurance</a> for your property.
Easier Gardening
If you don’t have a green thumb, don’t worry. Smart home technology helps streamline gardening capabilities.
Monitor Soil: A smart home system can monitor the soil moisture in your garden and water it without letting the plants dry out.
Watering Regime: Smart home technology helps select the correct watering regime for each plant zone.
Watering Schedule: If your plants require watering strictly on a schedule, a smart watering system will do that too.
Garden care can be fully automatic and does not require your involvement.
Challenges and Considerations
While smart homes offer a plethora of benefits, some challenges need to be addressed. One of the primary concerns is data privacy and security.
As smart homes collect and process vast amounts of personal data, it becomes crucial to ensure robust cybersecurity measures to protect against potential breaches. Homeowners must be vigilant in choosing reputable smart home devices and implementing security protocols to safeguard their privacy.
Another consideration is interoperability. With a multitude of smart devices and platforms available, ensuring compatibility and seamless integration can be daunting.
Implementing industry standards and protocols will help promote interoperability and prevent fragmentation in the market.
Future Prospects
The future of smart homes is promising, with continuous advancements in technology and the increasing adoption of Internet of Things (IoT) devices. Artificial intelligence and machine learning algorithms play a crucial role in making smart homes more intuitive and autonomous.
Predictive analytics can anticipate a homeowner’s needs and adapt to the environment accordingly, enhancing comfort and convenience. Moreover, the integration of smart homes with renewable energy sources, such as solar panels and energy storage systems, will pave the way for sustainable and self-sufficient living.
Smart grids and energy management systems will enable homeowners to optimize their energy usage, sell surplus energy back to the grid, and contribute to a greener planet.
The Rise of Smart Homes
The rise of smart homes has transformed the way we live, offering a path to increase energy efficiency, optimize safety, and enhance comfort. Furthermore, smart homes are optimized to serve the individual homeowner with smart meters, smart thermostats, and smart appliances.
Before moving into your dream smart home, understand the challenges and considerations. With all new technology, these innovating new systems all come with risks. 2023-07-20T10:03:35-07:002023-07-20T10:16:26-07:00Justin Havretag:calgary.com,2012-09-20:183233 Most Expensive Neighbourhoods in Calgary: Living in Alberta Luxury<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/4845/image/expensive-neighbourhoods-calgary.jpg" alt="Most Expensive Neighbourhoods in Calgary" width="475" />Large homes, access to schools, and beautiful scenic areas are all factors that define the top luxury neighbourhoods in Calgary. Homes in these areas offer recreational access and high-end amenities.
Mount Royal
One of the most expensive neighbourhoods in the city, homes in the <a href="https://www.calgary.com/upper-mount-royal-real-estate/">Upper Mount Royal neighbourhood</a> sell for an average reaching above seven figures. Located on the South West side of Calgary, the Mount Royal community is close to both the Canada Rocky Mountain range and downtown Calgary. Though not far from downtown, the Mount Royal housing area is a quiet residential neighbourhood and near the Montessori School of Calgary. Nearby parks include South Mount Royal Park, Champlain Park and Earl Grey Park. Lower Mount Royal is actually north of Upper Mount Royal.
Roxboro
Voted as the top neighbourhood in Calgary for its curb appeal, the <a href="https://www.calgary.com/roxboro-real-estate/">Roxboro community</a> is filled with large, luxury homes and beautiful walking paths. Roxboro residents enjoy close proximity to fine dining and quirky coffee shops. The suburban feel of Roxboro provides its residents with peace and calm. Neighbours in this area have homeowner's pride and excellent standards of upkeep.
Elboya
Luxury homes can both be found in the <a href="https://www.calgary.com/elboya-real-estate/">Elboya neighbourhood</a>. Home values have increased by 14% in the last year alone, and houses purchased here are considered prime investment properties. Elboya homes are located near schools and shopping, along with the Elbow River, Riverdale Park, and Stanley Park.
Choices of Luxury Living
Spacious and unique homes can be found throughout Calgary in both urban and rural areas of town. Whether you need easy access to public transport, local shopping, or schools, choosing the right residential area depends on your unique needs.2023-06-05T11:31:00-07:002023-08-02T06:35:27-07:00Justin Havretag:calgary.com,2012-09-20:18318How to Design a Home Gym: Creating a Space at Home for Any Kind of Workout
<img class="rfx-topimg" style="margin-left: 15px; margin-bottom: 15px; width: 475px; float: right; padding-left: 10px;" src="https://assets.site-static.com/userfiles/4845/image/home-gym-workout.jpg" alt="Exercising at Home Gym" />Exercising at home has benefits beyond going to a gym that many people attend. At home, they do not have to travel in order to get a good workout. They can choose whichever piece of equipment they want and get right to work, without waiting or hoping that the person using it before them cleans up after themselves. Of course, a home gym requires people to designate a specific workout space and purchase some equipment they can use.
The investment that someone may want to make depends mostly on what they can afford, what they want to do, and the space they have available to do it. Fortunately, homeowners have many options in the ways that they can design a workout room to help them achieve their fitness goals. With this information, people will know how to select and design an area, how to choose the right type of equipment, and how to maintain their home gym.
Table of Contents
<a href="https://www.calgary.com/#considerations_before_building_a_home_gym">Considerations Before Building a Home Gym</a>
<a href="https://www.calgary.com/#where_to_set_up_a_home_gym">Where to Set Up a Home Gym</a>
<a href="https://www.calgary.com/#garage">Garage</a>
<a href="https://www.calgary.com/#bedroom_corner">Bedroom Corner</a>
<a href="https://www.calgary.com/#basement/attic">Basement/Attic</a>
<a href="https://www.calgary.com/#back_yard">Back Yard</a>
<a href="https://www.calgary.com/#hallway/small_exercise_corner">Hallway/Small Exercise Corner</a>
<a href="https://www.calgary.com/#common_home_gym_equipment_and_tools">Common Home Gym Equipment and Tools</a>
<a href="https://www.calgary.com/#design_features_of_a_home_gym">Design Features of a Home Gym</a>
<a href="https://www.calgary.com/#floors">Floors</a>
<a href="https://www.calgary.com/#lighting">Lighting</a>
<a href="https://www.calgary.com/#ventilation">Ventilation</a>
<a href="https://www.calgary.com/#storage_&_organization">Storage & Organization</a>
<a href="https://www.calgary.com/#extras">Extras</a>
<a href="https://www.calgary.com/#how_to_maintain_a_home_gym">How to Maintain a Home Gym</a>
<a href="https://www.calgary.com/#invest_in_quality_equipment">Invest in Quality Equipment</a>
<a href="https://www.calgary.com/#refer_to_manuals_for_proper_cleaning_and_maintenance_tips">Refer to Manuals for Proper Cleaning and Maintenance Tips</a>
<a href="https://www.calgary.com/#keep_it_clean">Keep It Clean</a>
<a href="https://www.calgary.com/#enjoy_your_home_gym">Enjoy Your Home Gym</a>
Considerations Before Building a Home Gym
There are a number of factors that people should consider before designing or building a home gym, including:
Space needed
Preferred fitness routines
Equipment needed
Rooms available for conversion
Budget
Those who are relatively new to exercise programs may not initially know how to address these concerns at first. It is often easier for them to start smaller and build up than it is to invest a lot of work and make significant purchases without knowing if they will provide a good investment.
Many homeowners have a better experience if they begin by making a list of their expectations for their future home workout room. For example, someone who wants to focus on cardiovascular exercises will need different equipment and space considerations than a person who prefers to focus on weight training. There are plenty of people who want to be able to do both, and will therefore need the room to accommodate it. Selecting a room in the home to fulfill this purpose and designing it efficiently will ensure that homeowners can get the most out of the space.
Where to Set Up a Home Gym
<img class="rfx-topimg" style="margin-left: 15px; margin-bottom: 15px; width: 475px; float: right; padding-left: 10px;" src="https://assets.site-static.com/userfiles/4845/image/where-to-set-up-home-gym.jpg" alt="Places to Put Home Gym" />
Before homeowners can decide what equipment and design elements they want to incorporate into the workout room, they must choose the space. Some people have a spare bedroom on the main floor of their home or in their basement that they can devote entirely, which can make choosing the space an easier decision. For those who have fewer options, it is wise to compare them and decide which one will promote the most productivity with the least trouble for other aspects of home life. Any of the following rooms or spaces may be a good choice, depending on a variety of factors.
Garage
Many people like to set up a workout space inside their garage. For those with smaller homes, the garage provides an easy opportunity to spread out and also store materials on the walls or ceiling. Additionally, being able to open a full garage door for added light and fresh air can be beneficial for a workout. On the other hand, garages are often minimally insulated and may not have heating or air conditioning.
The way that homeowners style a workout area in their garage depends on what else they usually do in the space. For example, someone who parks two cars inside may not have as much room for large machines or workout gear. However, the garage can be ideal when people can move their cars into the driveway, as doing so provides extra space for movement, even if it is only temporary. As such, the garage is a practical choice for those who want to focus on body weight exercises, as it can usually accommodate one large piece of workout equipment, like a treadmill or a bench with weights. Storing smaller pieces on the wall minimizes tripping hazards after the cars are parked back inside.
Bedroom Corner
People who have very limited space, such as those who live in apartments or condominiums, may want to consider creating a workout nook in their own bedrooms. This space has an added benefit of reminding people to work out often. For example, those with small children may be afraid of exercising in the main living spaces while children are asleep. Doing their workout in their bedroom helps to ensure that it takes up the least amount of space, causes a minimal amount of noise, and makes it more likely to get done.
Unless the bedroom is quite large, people will probably have to minimize their equipment purchases and focus on things that can be folded up or stowed away. A treadmill that can fold in half takes less space when it is not in use. Similarly, a compact cross trainer uses a relatively small footprint. Otherwise, people may want to be selective about the equipment they buy, especially if they are unsure of how often they will use it. Dumbbells and kettlebells in smaller sizes can usually sit on a shelf to keep the floor free. Yoga mats and resistance bands weigh almost nothing and can easily be hung from the wall.
Basement/Attic
The basement or the attic can be an excellent source of unused space that homeowners can maximize for their home gym. An unfinished or partially finished basement provides possibly several hundred square feet of room not in use. This means that homeowners can feel free to purchase larger pieces of equipment or invest in more pieces without having to worry that they will need to pack them all away at the end of the workout. Basements tend to stay cooler in the summer, which can help people maintain their stamina throughout the routine. Homeowners should consider adding storage options like hooks or racks to take advantage of concrete walls.
For those who do not have a basement or lack space in it, the attic may be a reasonable alternative. Homeowners who live in areas with hot summers should be wary of choosing this space for their home gym, because the attic tends to be the hottest part of the house. However, it may be an ideal choice for exercises that improve with heat such as yoga. People should confirm that their attic has adequate ventilation before starting. Something as simple as an attic fan could make a huge difference.
Back Yard
Like a basement, building a workout space in the back yard offers a lot of flexibility. People should balance their expectations with their ability to exercise and store equipment. A back yard gym can be as large as anyone might want, but it is good to set limits, as this keeps the equipment from taking over the yard. People may want to start by designating a square or rectangular space for the gym. If they intend to install a shed for the equipment, they should make space for this as well.
Because the back yard is much more open than any room of the house, homeowners will have to think about these factors:
Flooring
Lighting
Weather
It may be wise to invest in some type of landscaping tile or patio pavers for this purpose, as trying to exercise on uneven lawn can be dangerous. For areas with heavy rain or snow, people may want to invest in shades or awnings so that they are able to continue working out. Lighting is ideal for those who want to exercise before they go to bed. There are many low-voltage lighting options that are relatively easy to install.
Hallway/Small Exercise Corner
For those who like to do body weight exercises that take up space in one direction, even the hallway may be a viable choice. Homeowners who lack the room to dedicate to their workout routine must take care in the equipment they buy and the exercises they choose. This way, they are less likely to accidentally knock something over or cause damage during the course of the workout. The hallway provides an ideal surface for workouts that require wall space for support, like wall planks or squats. Given its length, it makes exercises like lunges, burpees, or push-ups easier to complete.
The trick for anyone working out in a limited space is organization and safety. For example, it would be unwise for someone to set up workout equipment in front of the home’s primary entry or exit. Instead, they should take advantage of nearby wall space for storage and aim for equipment that is lightweight and easy to move quickly. This helps to ensure that tools can be kept organized and off the floor, without having to spend too much time moving it every day.
Common Home Gym Equipment and Tools
<img class="rfx-topimg" style="margin-left: 15px; margin-bottom: 15px; width: 475px; float: right; padding-left: 10px;" src="https://assets.site-static.com/userfiles/4845/image/home-gym-equipment.jpg" alt="Equipment to Put in Home Gym" />
When starting to think about building a home gym, people should consider the types of equipment they plan to use. Although the best-known pieces of gym equipment tend to be larger machines, homeowners have a variety of choices. Those who are new to regular exercise may wish to buy a few smaller pieces and work their way up to more complex or expensive items. From free weights to complete systems that allow people to do multiple exercises, it is possible to create a useful home gym on almost any budget.
Exercise Mat
Many people think of a yoga mat as something with limited use. However, an exercise mat is a vital and affordable piece of equipment for a home gym. For around $10-$15, people can provide themselves with a comfortable and clean surface in which to work on the floor. Someone who is performing core-strengthening exercises using weights may prefer to use an exercise mat. They are usually most appropriate for use on a flat surface and may not work as well with carpet. These tools are also lightweight and easy to roll up for use in other places.
Resistance Bands
Resistance bands are easy to consider adding to a home gym. For less than $10, resistance bands can increase the efficiency and efficacy of bodyweight exercises. These bands usually have a handle on either side and are very stretchy. In some cases, homeowners may be able to connect them to other permanent pieces of equipment for additional exercises. Because they fold up into a very tight space, they take almost no room at all. This means that people who are working in a very small room or even just part of a room have plenty of space for resistance bands.
Kettlebells
Kettlebells may seem like they have only one purpose, but they apply to a variety of exercises. For about $25 to $50 per kettlebell, one can have a durable weight with a strong, wide, supportive handle, which allows them to grip it with both hands or to pass it from one to the other with ease. This often makes the kettlebell a more useful tool than dumbbells for fast-paced exercises that use weights. Some fitness enthusiasts even use these weights as part of bodyweight exercises like push-ups or lunges.
Dumbbells
Most people are familiar with dumbbells. For a price that ranges between $10 and $30 per set, dumbbells provide a single-grip weight that is usually intended for upper-body exercises. Dumbbells usually come as a single weight, often meant to be purchased as a set. Other dumbbells have adjustable weights that can be added with the push of a button, which allows people to vary the weight they are using without necessarily having to buy multiple sets of dumbbells. Those working on a limited budget or space may want to be selective about the weight amounts they choose at first.
Mirror
Anyone who is seriously invested in their own fitness knows that form is key. When people are not sure if they are doing an exercise correctly, they often rely on mirrors to check their position and posture. This is an important part of the exercise itself, as it helps to improve output and avoid injury. As such, even though a mirror is not a specific piece of home gym equipment, it is a vital part of the gym space. Those who plan to work with weights or do complicated exercise routines should consider installing a mirror as part of their home gym.
The cost of a mirror for a home gym depends on the type and size. Those who want to buy a portable, full-length mirror should expect to pay between $50 and $100. For the full effect, some homeowners prefer to install mirrors running the entire height of one wall. This costs about $10 per square foot, which means it can be a more expensive endeavor. Unless people plan to use small mirrors for this project, it is often better to hire a professional installer. Mirrors can be extremely heavy and difficult to place for one person.
Exercise Ball
Exercise balls are another type of home gym equipment that is extremely affordable and easy for beginners to learn to use. Also referred to as a stability ball, these inflatable tools come in a variety of sizes. People can use them as part of their exercise routine or balance on them as a way to make other activities more difficult or productive. They run about $20 to $30 and usually need to be inflated at home. Most people prefer to use them with bodyweight exercises, because they can strengthen the abdominal muscles. They are also a good option for those doing occupational therapy after surgery.
Treadmill
Most people are familiar with the concept of the treadmill, as it is one of the most common exercise machines. The typical treadmill allows them to set the speed as well as the incline of the machine. Some models will have programs that people can choose to vary their workouts. Higher-end systems also include other features, like heart-rate monitoring and record-keeping. The biggest concerns that people should have about a treadmill is the size and the cost. Treadmills range from $200 to $3,000 or more. They can be well worth the investment for those who plan to use them frequently. However, they take up a lot of space, so in a smaller room, they may be the only larger piece of equipment.
Weight Machines
Weight machines are a way for people to engage in various weighted exercises within a specific format. They tend to be most appropriate for beginners compared to free weights. This is because a weight machine can typically only be used in a couple of different ways. As such, those who are new to the exercise are less likely to injure themselves with improper form. However, weight machines can be significantly more expensive than free weights. They range from several hundred to several thousand dollars, depending on what they do. As such, people may have to choose between investing in free weights and buying one or two weight machines.
Home Gym Machines
Homeowners who are looking for less customization of their workouts and more accessibility from a single point of purchase may prefer to buy a home gym machine. This type of machine offers several different exercises in one piece of equipment. As a general rule, they tend to be one of the most expensive home gym products. In exchange, homeowners may be able to incorporate bodyweight, weighted, and aerobic exercises into one piece of equipment. This is an ideal option for people who do not need to do dozens of exercises or have limited space to work with.
Bench
One of the best tools to add to a system of weights is a padded bench, which allows people to sit or lay down to perform exercises without necessarily having to do the exercises on the floor. A bench provides additional support and can ensure that people hold the correct form while they are working with heavier weights of 50 pounds or more. Although many benches are intended to serve as a permanent piece of equipment in the gym, others are portable. Some benches will open to provide safe support and then easily fold down for storage.
Design Features of a Home Gym
Homeowners may choose almost any room in the home to set up a workout area. However, although any space can work, it takes certain adjustments to increase the safety and practicality of the activities. The last thing anyone wants is to build a workout room and then realize that they must tear out the flooring or change the lighting because the space is not functional. Instead, people should start by analyzing each piece as it relates to their workout goals. That way, they can begin with a fresh space that is more likely to help them achieve their ambitions.
Floors
Although the flooring of the home gym may seem like an afterthought, it is one of the most important considerations for the space. People should ensure that they can maintain the proper traction for the activity they are doing, as well as provide a slip-resistant surface. This is the best way to exercise without risking injury. Additionally, people may want to consider their overall comfort and protection in the event of a fall. Hard or slippery surfaces, such as hardwood, porcelain tile, or natural stone, are less practical flooring materials. They can be difficult to grip and more painful during floor exercises. The following options tend to be the most appropriate:
Vinyl
Cork
Carpet
Rubber
Foam
Vinyl flooring is one of the most affordable options today, and it comes in a variety of designs and styles. This material is durable and easy to clean. For those looking for added support or noise reduction, cork may be a worthwhile investment. With regular maintenance, it will block sound without absorbing spills or odors. Carpet may even be a good choice, although people should look for options with a tight loop or a short pile. Rubber flooring is a less common option, but it provides the most cushion for high-impact exercises. Foam flooring is also a good choice and can be added to the floor as a permanent or temporary feature.
Lighting
For a good workout, natural lighting is usually going to be the best option. If people have access to a window in the workout room, it may be worth investing in sheer curtains or a light-filtering shade that provides privacy without blocking the light. For those who want to exercise outside daylight hours or who have limited window access, artificial lighting choices are important. Many fitness enthusiasts will benefit from a combination of lighting sources, including:
Broad overhead lighting
Dimmable lights on the walls
Spotlighting for difficult routines, where proper form is vital
LED light bulbs are energy efficient, using a fraction of the wattage that an incandescent bulb does. Homeowners who do not have an outlet nearby can easily run LED lighting using a variety of battery-powered options. Although LED bulbs were much more expensive when they were first introduced, they have dropped significantly in price.
Many people find that certain types of artificial light can give them headaches or make them feel more tired than they are. Some people may be familiar with the fact that flickering from fluorescent bulbs can trigger these problems, but some LED bulbs can as well. Where precision is key, homeowners may want to consider light sources that are flicker-free or in a different color temperature. There are many products available that feature these benefits, and they can help promote a better exercise experience.
Ventilation
In many cases, people do not realize how low their indoor air quality is. Most of the time, it is noticeably worse than the air outside. For those who want to exercise inside their home, creating the right ventilation routine can be the difference between sickness and health. The problem is that most homeowners lack sufficient ventilation equipment, and even fewer know how to use the existing systems properly. For example, people often think that running a fan while cooking or taking a shower is more about eliminating odors. In fact, it improves moisture control throughout the home. This helps to prevent mold and mildew from accumulating, which can cause health problems like headaches.
For the workout space, ventilation might be as simple as opening a window while someone is working out. However, this presumes that the outdoor air has minimal contaminants and that the window has a screen to keep insects or pests out. A ceiling fan or box fan can help people manage the temperature and how they feel, but it may not be as effective at removing humidity in certain regions. Adding a dehumidifier may be a necessary step to keeping it under control. Otherwise, cleaning the space regularly makes it easier to avoid buildup of dust or allergens. Those with respiratory conditions like allergies or asthma may want to add houseplants or even an extra filtration system to their homes. This can prevent contaminants from entering the indoor air, where it is more difficult to remove them.
Storage & Organization
With the other elements of the workout space under control, equipment storage and organization is one of the best ways that homeowners can ensure their tools will remain in good condition. It is also important to keep the space functional, so that people can exercise when they have the motivation to do so. Many pieces of workout equipment are too heavy to store anywhere but the floor. People with limited space may need to restrict the number of heavy items that they buy, as these will occupy room needed for exercising and walking around. Otherwise, it is a wise choice to invest in wall-mounted storage tools such as:
Hooks installed into wall studs
Racks for bulky items
Shelves for small pieces or sets
A well-organized wall could hold multiple sets of weights without collapsing or taking up floor space.
Those using a multipurpose room or part of the major living space for workouts might want to invest in cabinetry instead of open shelving. This helps to keep the equipment both out of reach of children and out of sight of guests. Similarly, those using less equipment and focusing more on body weight exercises may want to consider functional furniture that helps them achieve this purpose. For example, a bench in the dining room can double as an exercise tool that increases resistance during weight exercises or tricep dips. A heavy stool becomes a perfect item for step exercises. This helps people to vary the types of exercises they do without having to purchase additional equipment.
Extras
The equipment that someone chooses depends heavily on their workout preferences, budget, and space. However, even people with an unlimited budget may want to invest in a few extras that cost little, take a small amount of space, and work for a variety of exercise approaches. These include:
Workout mats
Resistance bands
Pull-up bars rated to support enough weight
Jump rope
TV system for following workout programs
These tools have the added benefit that they are easy to stowaway, and they are portable. This means that they can be used at home, taken on the road for an outdoor workout, or used for exercise while traveling.
How to Maintain a Home Gym
Once people have a home gym, they should plan to maintain it regularly. Upkeep after each workout, and additional cleaning on a weekly or monthly basis, can make the workouts easier to do, keep the equipment in better condition, and minimize the risk of injury. Without good care and maintenance, equipment is more likely to break down quicker or even malfunction. By taking the right approach, everyone can get the most out of their investment.
Invest in Quality Equipment
The reason that larger pieces of exercise equipment have such a broad price range is variations in quality. The cheapest products may not support enough weight, and they may not sustain heavy use. This means that they will break down or require replacement more often. On the other hand, quality equipment is durable and safe to use for longer periods of time. It may use metal instead of plastic components. Those who are trying to stick to a tight budget should limit the number of pieces that they buy, rather than buying cheaper products. This is an ideal approach to maximizing the use they get from their investment.
Refer to Manuals for Proper Cleaning and Maintenance Tips
Those who are used to going to a public or private gym may not know how to maintain their exercise equipment. This step is easy to ignore, especially while the equipment is new. Over time, people may lose the manuals or forget this important task. Therefore, they should designate a place to keep the manuals and review them at least once a year to ensure that they remember what they are supposed to do with each machine, and avoid using products that will damage the machine or shorten its lifespan.
Keep It Clean
Hardly anyone enjoys wiping down a piece of workout equipment at the gym before someone else can use it. However, if they consider how this can affect their health or the long-term condition of the machine, it may be easier to ensure that this task gets completed on a regular basis. Like many pieces of equipment in the home, workout equipment must be maintained in a specific way. People cannot use any cleaning products they like and expect it to work effectively. Some products can damage the surface or even break the machine. Therefore, it is practical to research the best cleaning options for any given piece of equipment.
As a general rule, every piece of workout equipment should be wiped down after use. No one enjoys picking up a sweaty dumbbell, especially if it causes them to drop it. Wiping after use achieves more than just sweat management for the next user, however, as it also minimizes the accumulation of moisture in seat pads or foam handles and helps to control odors. Wiping with a dry cloth or paper towel is necessary but insufficient. People should also regularly spray down high-touch surfaces of the equipment with:
Gym cleaning products
Wipes designed for fitness equipment
A mild solution of white vinegar and water
It is important to avoid spraying electrical components, as it can cause them to short out. Otherwise, people should plan to sweep and mop the floor at least once a week, and dust shelves before they sweep or vacuum. This helps to keep dust or dirt from accumulating, which can settle on the equipment and make it harder to use.
Enjoy Your Home Gym
<img class="rfx-topimg" style="margin-left: 15px; margin-bottom: 15px; width: 475px; float: right; padding-left: 10px;" src="https://assets.site-static.com/userfiles/4845/image/using-your-home-gym.jpg" alt="Enjoying Using Your Home Gym" />
A home gym is a gift that people give to themselves and their long-term fitness and health. It takes some time to choose a room and equipment that will suit the kinds of activities they want to do. In many cases, it may take a significant investment to convert the space for the right flooring and lighting, as well as the tools needed for each task. However, creating a workout space that is functional and safe is possible for almost any kind of home and virtually any kind of exercise. From body weight exercises and yoga to extensive weight-training systems, the right design makes all the difference. By investing in quality equipment and providing proper maintenance for it, everyone can enjoy a home gym for a decade or more.
2023-06-01T10:02:05-07:002023-06-01T12:24:56-07:00Justin Havre