If you’re buying a home, you’re likely going to pay some closing costs. And bad news, those closing costs can pack a wallop. Typical closing costs can range depending on the home’s purchase price. For a $350,000, you could pay anywhere from $5,000 and up.

Closing costs for the buyer usually consist of the following:

• Homeowners insurance
• Title search and insurance
• Home Appraisal fees
• Property tax
• Lender’s fees including loan origination/underwriting fee
• Home inspection
• Private mortgage insurance (if down payment is less than 20%)
• Real Estate Lawyer fees

As you can see, there’s a lot there to pay for, so you don’t want closing costs to sneak up on you.

The most cost effective way to deal with closing costs is to pay them in a lump sum at closing. That’s why budgeting and planning for them is so important!

However, you’ll have the option to roll some closing costs into your monthly mortgage payment. The catch? You’ll pay interest on those costs, just like you would your mortgage. That makes financing the costs more expensive over time.

You can also negotiate with the seller and see if they would take on any closing costs. While it’s not likely in our current market, a motivated seller may be interested.

And just so you know you’re not alone, the seller will also pay some closing costs, usually in the form of commission for the buyer and seller real estate agents who are guiding the transaction. They usually pay a percentage of the home’s purchase price to the buyer and seller agents.

Now that you know all about closing costs, you can prepare for them. If you have any questions about closing costs or about how to budget for them, just send me a message and I can help.

When you’re getting ready to sell your home, you’re always on the lookout for ways to increase your home’s value and get more money in your pocket. There’s the old standbys, of course, like the kitchen remodel, updating the backyard, redoing the bathrooms.

But there’s one quick fix that can seriously boost your home’s value: paint! A recent study by Zillow found that buyers were willing to offer $5,000 more when a home was painted certain colours.

It seems so simple, but paint can really change the feeling of your entire home. Just imagine repainting a bright red kitchen with a cool grey. It would make the room feel totally different with just one change. And the best part? Painting a room is fast and inexpensive compared to other renovations.

Here’s how you can get the most bang for your buck by painting your home.

• Avoid bright colours. Not only do many buyers dislike bright colours, it can also really date your property. If you can think back to when your paint colours were in style and trendy, it’s probably time to repaint.
• Stick to calming colours in the bathroom and bedroom. Buyers love light blue bathrooms and moody, dark blue bedrooms according to Zillow’s study.
• Keep it neutral, especially in the kitchen and living room. We all know how fickle trends are, but you really can’t go wrong with a fresh neutral. Right now, buyers are loving a modern crisp white or cool grey.

When repainting your space to bring in the most value, keep your palette to cool, timeless colours that lean more towards classic than trendy. These colours will appeal to the most buyers and make it easy for people to picture themselves in the home.

Want my opinion on how to boost your home’s value? Send me a message and let’s set up a time to chat!

Whether you’re building a new house or remodelling your current property, you want to make sure it appeals to potential buyers. 

But all the trends can be confusing, and sometimes it seems like they change overnight. Here are some of the top features that experts recommend working into your property to get buyers really excited. 

Energy Efficient Upgrades
Buyers are becoming more and more climate aware. Add that to ever-increasing utility prices, and you’ll find that buyers go crazy for energy efficient upgrades in homes. Focus on the bones: good windows and insulation, and then add in new energy-efficient appliances and LED lights. Solar panels will get major bonus points for buyers into sustainability and resilience.

Flexible Home Office Spaces
Working from home or hybrid office situations have turned permanent for many people. That’s why more buyers are looking for homes with home office spaces. For the best investment, keep the space flexible so it can be used for something other than an office too. For example, it could turn into a bedroom or den.

Home Gym Areas
Just like the office, people are liking their at-home workouts. You can cater to this need by creating a space for that Peloton or weights machine that isn’t in a bedroom or living area.

Functional Backyard
It used to be that you’d lay down some sod in the backyard and buyers would be happy, but that’s not always the case now. Buyers today are looking for backyards that they can really live in. That means a nice patio or deck, landscaping, and a fence to keep things safe for kids and pets. Veggie gardens, pools, and outdoor kitchens will also increase the property’s value in the eyes of buyers.

Even with just a few of these features, your property is sure to stand out to buyers. And the biggest bonus is that each of these will stand the test of time.