Category: Checklists

How to determine your home’s value of the current market

Posted on by teamrealty

How to determine your home’s value of the current market

When thinking about selling your house or just wanting to determine your home value in the current market, estimating its value is a crucial first step. Ottawa home price estimators are a good place to start, but knowing the local real estate market is essential for a more precise evaluation.

 

Comparative market analysis or CMA

A comparative market analysis is one of the greatest methods to determine the worth of your house. This strategy compares your house to recently sold comparable properties in your community.

When determining a home’s fair market value in Ottawa factors like square footage, the number of bedrooms and bathrooms, and overall condition are taken into account.

If you’re curious to find out how professionals conduct this kind of analysis, feel free to check out our Home Price in Ottawa Estimator tool, then you can gain great insight into how agents decide property prices. It’s through this methodical approach you can be sure your home has a competitive price.

 

Online valuation tools

It is very common in the digital marketplace these days to seek online real estate price estimators and valuation tools, to get a quick estimate value for properties. These tools algorithms take into consideration variables such as recent sales, property features, and location.

As much as this is convenient remember that these tools only give you estimations you need to back up with further detailed analysis.

As far as detailed figures are concerned seeking help from a real estate agent who can offer professional estimation will serve useful. Using their experience in data from the market, agents can give a good estimation of the real value of the house that might fluctuate from what you get by using home price estimators online. Knowing how agents price properly can help one understand why one online tool is not enough.

 

Analyzing market conditions

The state of the current real estate market in Ottawa is putting a huge reflection on your home’s value. For example, in a seller’s market, when there are more people buying houses than selling, you may see multiple offer situations that drive up sale prices. On the other side, in a buyer’s market, you may see home sitting on the market longer as buyers are taking their time to shop around. Without the buyer frenzy you’ll notice sale prices remain more in line with the list price.

To better understand how market conditions dictate pricing, find out how professionals in real estate set the price for the properties they sell.

In this regard, you’ll be equipped to set a goal guarding the sale of your house that is realistic and be able to plan accordingly.

By using our Home Price in Ottawa estimator tool along with the professional advice from any of our real estate consultants, you’d be able to gain clarity and insight in navigating these market conditions more effectively. Additionally our realtors offer free competitor comparative market analysis (CMAs) to help you make informed decisions. You can learn more about our expert team here.

 

Consulting with a real estate agent

Finally one of the most effective ways to estimate your home’s value is by consulting with the local real estate agent. An agent can offer a detailed market analysis and tell you exactly what they know regarding the prices and trends of homes in Ottawa, based on personal experience. A representative can also assist you in understanding the factors like upgrade valuation, The addition of a new development in the area or any other points which can either increase or decrease your house’s value.

With these activities now you can best estimate the value of your home and thus make an informed decision in the market currently. Therefore, regardless of your objectives – be they to sell in the near term or concerns just ventured on the price of your home in Ottawa – the main objective is that you stay informed.

Another critical factor is the balance between supply and demand. In Ottawa, as it is most of the time, the demand for houses is more than the number of the houses available in supply, especially in prime areas, influencing house prices upwards. On the other hand, a high supply of houses in the market will lower the prices as seller’s try to compete with each other for potential buyers. This is important in making strategic decisions in property investment.

To get a better grasp of how these dynamics influence property pricing, it is worthwhile to understand the process outlined in how agents determine property prices.

Key considerations when buying a waterfront property

Posted on by teamrealty

Key considerations when buying a waterfront property

Purchasing a waterfront cottage is an exciting journey but making the right decision requires careful thought whether you’re eyeing an Ontario waterfront cottage for sale or browsing through listings of cottages for sale in Ontario, it’s important to consider several factors to ensure investment is sound. Here are some key considerations when buying a waterfront property in Ottawa you should keep in mind:

 

Property access

Accessibility is crucial when considering a waterfront property for sale in Ontario. Consider whether the cottage is easily reachable throughout the year, especially if you intend to visit during all seasons. The condition of roads particularly in the winter can greatly influence your experience. If year-round access is essential for you, explore our listings featuring waterfront cottages for sale in Ontario that offer easy access no matter the season.

 

Water quality

Living on a waterfront property requires that the water be of good quality to help maintain and sustain a natural and liveable habitat. The quality of water may and can significantly impact the waterfront living experience. Check for the water quality especially if you plan to swim or fish. Check for any signs of pollution or contamination and consider having the water tested for safety standards. A waterfront property with clear and clean water enhances the appeal of waterfront living and, should play a significant factor in your decision. To find properties with pristine water quality, visit our selection of waterfront cottages for sale in Ontario.

 

Flood risk

Conduct basic research on the flood risk associated with the property. Being aware of the flood history and understanding the potential for future flooding is crucial for the safety and longevity of your investment. Waterfront properties with low flood risk are highly desirable and can offer peace of mind. Learn more about flood-safe properties by browsing our waterfront properties for sale in Ontario.

 

Environmental regulations

When purchasing a waterfront cottage,  it is important to be aware of any environmental regulations that affect the property. These regulations play crucial factors in your ability to make modifications or improvements that you plan or desire for your waterfront property. It is essential to know what is permitted and what isn’t to avoid future complications. For cottages that comply with all necessary regulations, check out our Ontario waterfront properties for sale.

 

Privacy and Noise levels

Consider the privacy and noise levels of the water property. Survey and investigate the surrounding area to gauge the level of privacy and potential for noise from nearby properties or recreational activities on the water. For serene and private waterfront cottages, view our waterfront cottages for sale in Ontario.

 

Maintenance and Upkeep

Waterfront properties often require more maintenance and upkeep due to exposure to the elements. Consider the long-term maintenance needs of the property including the shoreline, dock, and any structures. Understanding these needs can help you plan for future costs and labor. To find low-maintenance waterfront cottages, explore our waterfront homes for sale.

 

By considering these essential factors, you can make a more informed decision when purchasing your waterfront cottage. For a guided tour and expert assistance, visit our waterfront homes for sale in Ottawa page and connect with a realtor to start finding the perfect waterfront retreat today.

Summer Honey-Do List: Home Projects to Keep Your Home Looking Great.

Posted on by teamrealty

With every season comes new projects for a homeowner. Whether it’s regular maintenance or renovations to keep your home from looking dated, it all works towards the same goal of maintaining your investment. Here are some tasks for you to add to your honey-do list this summer, to ensure your home shines bright during these hot summer months.

When it comes to owning homes, there is so much to keep them maintained and in the best condition so that we can enjoy them to the fullest. However, once the hot summer weather comes, homeowners who have been eagerly awaiting the high temperatures end up spending more of their time outdoors, enjoying the city and soaking up the sun. This makes keeping up on home projects difficult, especially if you have not planned accordingly. To ensure you keep your house in tip-top shape, we have done some brainstorming for you! Here are 5 items to add to your “honey-do” list this summer to elevate your home and potentially save you time, money and a homeowners headache down the road. 

Honey, install a security system, please?

If you have plans to get out of town and relax on a much needed vacation this summer, preparing your home is essential. During the summertime, break-ins to residential homes are more frequent. Have your honey ensure your home is kept secure by installing a home security system. Research different types to find out which one fits your needs best. You may also want to look into home automation services so you can control things such as lighting, heating, and cooling directly from your smartphone. This way, it can appear as if someone is home at all times and potentially deter intruders. 

Honey, let’s renovate the shower!

Summers in Ottawa are hot, and boy do we feel it. Enhance your shower experience with a bathroom renovation that will have you showering in luxury at the end of a hot summer’s day. Not only is this a great way to elevate your bathroom for personal use, it also has an excellent Return on Investment. Or, if you are someone who spends a lot of time outdoors, and in the garden, building a private outdoor shower is a great way to ensure you are clean before heading back inside. 

Honey, where is the drill? It’s time to clean the garage. 

While many people perform a thorough spring cleaning of their home, sometimes the garage is left and forgotten. Like with any major cleaning project, it’s important to start with the four piles: keep, donate, recycle, and toss. Doing this first will help clear some space for you to put things away and make sure everything is in its designated space. 

Honey, have you changed the furnace filter lately?

Changing your filters on your appliances and furnace is key to maintaining their conditioning so that they can work optimally. Begin with the air filter on your furnace; this system takes the air from a room into its system where it is then heated or cooled by coils before being blown back into your home through the floor vents. The air filter prevents pollen, dust, and other particles from being blown back into the air. Follow up by replacing other filters around the home including those on dishwashers, range hoods.

Honey, the lawn mower won’t start.

Maintaining your equipment is essential to ensuring its longevity. If you have noticed that your lawn mower is not performing like it did when you first purchased it, it may be in need of a tune up to bring it back to life. Change out your spark plug, air filter, get an oil change, clean the carburetor, sharpen your blades and your grass cutting machine will be in tip-top shape to finish the season and keep your lawn looking healthy. If mechanics is not in your skill set, hire your local handyman to get the work done! 

Remember, no project is too big or small when it comes to home maintenance. Your home is your biggest investment, and ensuring it is kept in good shape will help maintain its long-term health.

6 Things To Do Before Settling Into Your New Home

Posted on by teamrealty

Buying a home is an exciting time for both new home buyers and experienced buyers alike. It is a fresh start, with new walls to build your life within. However, once the move begins, things can feel stressful, frantic, and exhausting, especially if there’s extra work to be done while boxes are being piled one on top of another. To make your transition go smoothly, we have compiled a list of 6 things to do before settling into your home. This will undoubtedly save you time and energy that could be put to better use come moving day.

Update Your Information

Before officially moving into your new home, you should begin updating your address on your driver’s license, OHIP card, banking information, and any other services that require your place of residence on file. Additionally, you will want to inform your insurance providers to ensure that your home insurance is transferred and appropriate for your new home coverage. You will also want to touch base with utility companies before you move so that your home has electricity and gas set up under your accounts. Lastly, have any internet, phone, or television service providers in to get your systems up and running, primarily if you rely on a good connection to work from home. See here for a change of address checklist, to ensure you don’t miss informing anyone.

Make Your New Home Shine

Before the big day comes, set aside some time or hire a company to complete a deep clean of the home. Ensure high-touch surfaces are disinfected, carpets are steam-cleaned, appliances are cleaned out, and that every nook and cranny is spotless and ready for a new life. If the home’s colours aren’t in line with your decor or aesthetic, or you want to rid the home of any lingering smells from pets or smoke, take this time to add a fresh coat of paint to the walls. By the time you move in, it will feel like you were the first family ever to own the home, and the hustle of moving-day will be a breeze. 

Make a home maintenance schedule
Home maintenance should never be something you skip on when it comes to homeownership. Keeping a regular schedule will ultimately help you protect your investment, and hopefully, minimize any high-cost repairs you may have to do. You can begin the work for this as early as your home inspection report comes in, as it might contain suggestions for work or repairs that should be completed.

Create and organize a filing system for any manuals or instructions, with clear outlines on how frequently you should have large items or appliances serviced or replaced and when to conduct seasonal maintenance. This is also an excellent opportunity to do your research and find a list of local plumbers, electricians, exterminators, landscapers, or snow removal companies that you may need to use in the future. 

Smoke and Carbon Monoxide Detectors
It is good practice for every homeowner to frequently check both smoke and carbon monoxide detectors to ensure they are in good working order. Before moving into your home, checking or replacing existing smoke and carbon monoxide detectors or their batteries should be one of the first items to check off your list. Home Safety experts recommend changing the batteries every 6 months, so make sure to mark it on your calendar for semi-annual maintenance to be completed. If you are unsure how to test your systems, your local fire department may have some tips or offer free inspections.

Change Your Locks
Getting keys in hand for your new home on closing day is easily one of the best feelings when buying a new house. Everything is real, and a new adventure is about to begin. But for safety reasons, the passing on of keys should stay ceremonial. You never know how many copies of your house keys have been made and how many people may still have them in hand. This can be an easy fix by installing new deadbolts yourself or by calling a locksmith in to do it for you. Make sure if you get copies made that you only give them to necessary persons, and write them down, so you don’t lose track. 

Get Familiar With Your Home
Once you become a homeowner, it is essential to get familiar with the systems in your home. Take the time to understand how everything works. Locate the furnace, air conditioning system, circuit breaker, and the home’s main water shut-off valve. Take note of these things during your walkthrough with your REALTOR ® or home inspector, and once in your home, inspect them yourself or hire someone to do a secondary inspection with you so that you know how best to care for your home and protect your investment. 

 

Closing the Cottage for the Winter

Posted on by teamrealty

It is always a sad day when you are sitting at the cottage, and the leaves start to turn, and you realize that the nights are getting cooler. We usually delay the decision to close up the cottage to the last minute. Given our uncertain weather events these days, it is best not to wait. Frozen pipes can cause a great deal of damage.

 

This is also the best time of the year to check your insurance policy. If any neighbours can check on your cottage throughout the winter months you can let them know that you are closing. They should have your phone and email details in case of an emergency.

 

The closing of the cottage routine can be broken into two areas, inside and out. Take photos of all areas, including the dock, water/septic system and inside. This can help with insurance claims and to show you how to set things up next year.

 

If your cottage contains many valuables you plan a Winter visit, you may want to consider alarm and monitoring services.

 

 

RELATED:  Looking To Buy A Cottage? 8 Things To Consider Before Making Your Purchase

 

Outside the cottage

 

  • Take a walk outside of your cottage and conduct a detailed inspection of the building
  •  Check for loose boards, missing siding or chipped paint
  • Check the drainage around the cottage, ensure the water can always run away from all the buildings
  • Check for any small holes that animals could use to find a warm Winter home
  • Check downspouts and make sure they carry the water well away from the foundation
  • Check the roof, if you can get on it, check for loose or missing shingles or any gaps in the flashing and if possible, remove moss and leaves
  • Check and, if necessary and use silicone caulking around windows and doors
  • Clean the gutters and consider installing gutter guards
  • Turn off outdoor taps and on the inside, if there is a shut off valve
  • Bring in any toys, lawn furniture and BBQs
  • Store all dock ornaments, ladders, life jackets, ski equipment and boats
  • Conduct annual maintenance on the motors
  • If your cottage has a septic system, follow the manufacturer’s service recommendations and timelines
  • Turn off your water supply and drain your pipes and all water containers to prevent them from freezing
  • Rake and remove leaves from around the cottage

 

Inside the cottage

  • Unplug major appliances
  • Turn off your entire power supply, unless you have a sump pump, exterior lighting or alarm system
  • Remove all valuables
  • Remove bedding, towels and other fabrics
  • Get rid of all  fire hazards that could easily catch or spread a fire
  • Clean out the fridge and cupboards
  • Leave the refrigerator door cracked open to prevent musty smells
  • For each toilet, shut off the water on the wall, flush it and remove the remaining water from the tank
  • Close curtains to prevent fading from the sunlight
  • Close fireplace damper

It is never a happy time when we drive away from the cottage for the last time each year. However, if you follow the checklist and perform some basic maintenance tasks, the cottage will be ready to greet you and your family next year. 

Buyers Toolkit – Springtime

Posted on by curiousprojects

Buyers Toolkit – Springtime

Spring is in the air, and the real-estate market is ramping up for the beginning of buyers’ season.  Things tend to move faster in the spring and houses for sale are often sold shortly after they are listed.  As a potential home buyer, it is important to be prepared as possible before you start looking at potential homes – that way, the chance of losing your “dream home” to another buyer is greatly decreased. You may be wondering … “What are some of the important things that can help you stay on-top of, and ahead of this year’s spring market?”  Have no fear, in this toolkit we have everything you need to know, and do, to make the buying experience go smoothly for you!

Your “Tools”-What you want to be prepared with ahead of time:

Mortgage Information & Pre-approval

Find out what mortgage you qualify for, and get your mortgage pre-qualification.  By taking this step you’ll know exactly what you can afford to buy and when you’re ready to make an offer, you can be confident knowing you are staying within your financial boundaries.  A financing condition is pretty standard in an agreement of purchase and sale; after your offer is accepted by the seller the time you have to meet the conditions is best spent finalizing your financing on a specific property rather than starting the approval process.

A Realtor

Although that seems like a no-brainer, making sure you have hired the realtor who is right for you is very important when it comes to purchasing a home.  Do some research, ask questions, interview a few realtors, check online profiles and reviews.  You’ll be spending a lot of time with your real estate agent; make sure you trust them, that they’re knowledgeable and that you’re comfortable with them.  Quick and easy contact with your agent is another key piece when it comes to signing and sealing a deal.

Your List of Needs vs. Wants

Knowing what you’ll need in your future home, and things that you want (your wish-list) is one of the most important aspects when it comes to looking for a new home. Needs are things that you must have in your new home (e.g. minimum number of bedrooms, a yard for the dog, a safe neighbourhood) whereas the wants’ or your “wish-list” are things you don’t necessarily need, but you’d like to have (Example: Granite countertops).  Your “must-have” list will help you rule out homes for sale that aren’t suited for your needs rather than spending valuable time on those that don’t.  This process can also open up your search options if some of the things on your need list actually turn out to be wants.

Pro-Con List

It’s important to keep a list of the pros’ and cons’ of each property that you visit, in order to have a better recollection of the home that is best suited for your family. Remember to check small details in each home, like testing the lights, and plumbing, and make note of the neighbourhood characteristics.

Trust Your Gut

When it comes to knowing what home is the right choice for you, you can use the simple tools listed above to help make an informed decision, however the most important aspect of home-buying is knowing when to trust your gut. The spring market moves quickly, and sometimes being prepared, and trusting your instincts are the two key factors standing between you, and successfully making an offer on your future home in time. If the potential home is in your price range, and has the combination of needs and wants you desire – don’t take the time to sleep on it, or you may lose the opportunity to make an offer. Trust your intuition and keep in close contact with your realtor to have the best support and knowledge while making these decisions.

There are many different aspects that are key elements to finding the right home. Working with your realtor to negotiate for a fair price, finding the neighbourhood you’re comfortable with, and ensuring you have the right credit and down-payment for the home you’re interested in are just some of these factors. The home buying process doesn’t need to be complicated – tool kit in hand, and realtor by your side, will make this spring market a piece of cake for you.

Let us know how we can help!  Contact us info@teamrealty.ca