Will the neighbourhood go up in value? When you purchase a home, you’re hoping it will continually go up in value — just like a good investment. However, there’s something else that you want to see go up in value as well: the neighbourhood. In fact, the neighbourhood plays a key role in what the home will be worth in years to come. If the neighbourhood goes down in terms of desirability, so will the market value of the home. That’s why, when shopping for a new home, it’s important to get a feel for the value of the neighbourhood, and whether or not it’s on the upswing. How do you do that? One way is to simply take a walk. Look at the properties. Are they well maintained? Is the landscaping groomed and attractive? Those are signs of “pride of ownership” — a clear indication that owners value their homes and the neighbourhood. Another way is to do some research. Has crime gone up in the neighbourhood? Are there improvements planned, such as new parks? Is the neighbourhood attracting the kind of people you want as neighbours? How does the neighbourhood school rank? Some of this information may be difficult to get on your own. A good REALTOR® can help you. Call today.

“Closing Day” Terminology:
You Need To Know Closing day is an exciting time. After all, you’re moving into your new home! However, it can be stressful as well. The last thing you need is to be confronted with something you don’t understand. So here is a quick list of common “closing day” terms. • Disbursements. This is the allocation of funds to the appropriate parties, such as the seller. Your lawyer will take care of this for you. • Possession. This is the moment on closing day when you are legally able to take possession of your new home. It’s usually when your REALTOR® or lawyer hands you the keys. • Title. This is a legal document that identifies the property and its owner. • Closing costs. These are expenses, excluding the selling cost of the property, that are due on closing day, such as legal fees, reimbursement for pre-paid utilities, utility deposits, insurance, and taxes. • Closing adjustments. These are expenses pre-paid by the seller that need to be reimbursed on closing. There may be other terms you come across on closing day as well. Don’t worry, a good REALTOR® can help make the day go smoothly for you and your family. Looking for a good REALTOR®? Call today.

Upgrades That Hold Their Value:  Do you have a renovation project in mind – and wonder how much value it will add to your home? Remodeling Magazine recently did a study of renovation projects, comparing costs to added value. Here are some of the results: Replacing a main entry door has a return on investment of over 95%. After all, the entrance to a home is one of the first things a prospective buyer notices. Adding a new deck also adds a lot of value. Depending on the materials used, you can expect to get back three-quarters of the money invested. Another high-payback project is the garage door. This once again demonstrates the importance of a home’s “curb appeal.” If you’re tackling a big project, such as a basement renovation, you’ll be glad to know that, according to the study, a project like this adds a lot of value. Finally, minor improvements to bathrooms and kitchens – such as adding new countertops or cupboards, can also be good investments that mostly pay back when you sell your home. Of course, these figures are averages and can vary widely depending on location, type of property, and other factors. Need help determining how a particular home improvement might impact the selling price? Call today