Purchasing a home is likely going to be one of the largest purchases you will make in your lifetime, which is why it is so important to follow the right steps when starting on your home-buying journey to ensure that the entire process goes smoothly from start to finish!

We’ve put together a step-by-step guide to buying a home, to help you get off on the right foot when it comes to buying a home.

1. Decide to buy a home
Make sure you are ready both financially and emotionally!

2. Get Pre-Approved
Work with a mortgage broker or your bank. They will work with you on what you require to submit an application. Once approved, this will determine how much you can afford to spend on a home.

3. REALTOR® Consultation
Work with a RE/MAX agent to help guide you through the process. The right agent will discuss your price range, ideal locations, current market conditions and much more!

4. Start Your Search
Your REALTOR® will get you information on new homes that meet your criteria as soon as they’re listed. They’ll work with you and for you to ensure you find your dream home.

5. Current Market Conditions
Your experienced RE/MAX agent is a valuable resource as you consider different properties. They will be there when you have questions regarding the homes you’re interested in – they can tell you what is a good deal, and when to walk away.

6. Make an Offer
Your REALTOR® will help create your offer tailored to your needs including the right subject clauses down to the closing date that works best for you.

7. Negotiate
You may receive a counter offer but don’t be worried! RE/MAX agents will negotiate for you to ensure you get the best possible price for the house you love!

8. Accepted Offer
It’s crunch time! The next few weeks are busy as you need to schedule and remove every one of your subject clauses by the specified date. You’ll likely need to schedule an inspection, appraisal, financing approval, and several others. You will also need to provide a deposit to put down on the home. The deposit will be a pre-determined amount given in-trust to your REALTOR® to show the sellers you are committed to this home. Don’t worry, that money goes towards the purchase of said home if all goes well! This is a busy time but be sure to reach out to your RE/MAX agent if you have any questions or are unsure about next steps.

9. Subject Removal
Once you have completed all your subject clauses, and everything went smooth, it is time for you to sign on the dotted line and consider your new home to be yours (almost!).

10. Official Documents
You will need to provide your RE/MAX agent with your preferred lawyer or notary to have the official title transferred into your name. You will meet with the lawyer or notary in person to sign all the legal documents before you move in. This typically happens a few days before you take possession of your new home.

11. Move In!
Congratulations, you are officially a homeowner! The date pre-determined by you is your move-in day! You can now move into your new home. Your RE/MAX agent will be there ready and waiting to hand you the keys. Enjoy!

If you’re ready to begin the buying process, call 780-962-8580 one of our RE/MAX agents would be more than happy to assist you!

Opinions are split as to whether buying and selling a home in the winter is the best time or not. In the post-coronavirus world, plenty of conventions and traditions have been turned upside down. Deciding if you should erect a for sale sign in your snow-filled yard or venture out in cold conditions to find your dream home? There are some factors to consider, working in favour of taking the leap into home-ownership during the winter.

We have compiled a list of the top benefits of buying and selling your home in the winter:

Buying

#1 Fewer Bidding Wars in the Winter

Historically, there is less competition among homebuyers during the winter months. Unless the sun is shining and the temperatures are above normal, not everyone is willing to endure the wrath of Old Man Winter. Moreover, winter is not always the most convenient time to acquire a new property. The buzzing holiday season often has homebuyers distracted, and families may be apprehensive about moving to a new neighbourhood in the middle of the school year.

#2 Faster Mortgage Closings

It may seem counterintuitive, but the winter months might offer quicker service during months. Because sales activity is typically a bit slower between November and February, service professionals within the industry may be faster since they aren’t as busy.

Mortgage closings, home inspections, contracting services, and legal documentation – everything that is involved with buying a home can be quicker than if it were done in the middle of the spring or summer.

#3 Is Everything Cheaper?

Statistically, since the winter months tend to see lower volumes of activity within the real estate market, sellers are more likely to list their home at a fair price, or priced to sell! Without overinflated prices, and the decreased likelihood of a bidding war, you’re more apt to score a good deal on your purchased property in the winter home-buying season.

Further, since real estate is an essential industry, many industries that support buying and selling a home are readily available. The market slowdown in the winter may make some services less expensive, since there isn’t as much activity. Whether it’s moving companies or contractors, some are willing to negotiate in order to drum up business during the winter season.

#4 Seasonal Bonuses

‘Tis the season for bonuses from your workplace. It might be a bit different in 2020, but many companies hand out respectable bonuses to their staff to show their appreciation for a job well done. This cash injection is great for homebuyers who may allocate it directly toward their down payment if they are browsing for a home in the winter.

Selling

#1 Winter Spawns Serious Buyers

If somebody is willing to travel through a Canadian winter to visit an open house, it is more than likely you have a serious buyer on your hands. It is easy to attract a few dozen people to your property on a gorgeous spring day, but are they genuine about their interest?

Winter separates the window shoppers from the dedicated customers.

#2 Less Competition!

The reduced competition during the winter season is a plus for buyers and sellers alike. With fewer properties available on the market, you’re more likely to sell your home quickly (as long as demand is there!) with favourable terms.

#3 Highlight Your Home’s Energy Efficiency

How efficient is your home? If you are like most modern households, you have invested in your home’s energy efficiency to cut down on your utility bills. What better time to show off this incredible investment than during the winter, when your hydro bill is typically higher. This could not only add thousands to your home’s value, but it could be a selling feature for homebuyers.

Got a hot tub or a fireplace? These will be extra favourable features for winter buyers who will naturally be looking for homes that offer cozy warmth.

Winter is in the Air

Any time the birds start chirping, the days become longer, and the temperatures begin warming up, for-sale signs pop up on yards everywhere.

While this is part of the reason that more homeowners sell their properties between March and September, plenty of real estate agents and industry experts regularly champion the winter as a great time to be both a buyer and seller.

Have more questions about the home-buying or selling process? Contact one of our RE/MAX Preferred Choice’s agents today 780-962-8580.

One of the many benefits of owning a home is having the ability to sell it one day – hopefully for a healthy profit, which can then be leveraged to purchase a larger home, an investment or recreational property, or to help finance your retirement. Once you decide that you’re ready to take the leap and list your home for sale, the next question you should ask yourself is, “How much is my house worth?” This is a loaded question indeed, as the answer will impact your decision on asking price, when to list your home, or if you should wait until more favourable market conditions. A professional real estate agent can best advise you on what’s happening in the housing market based on a number of different variables such as housing supply and demand in your area, among other things.

The Price Is Right
We can’t stress the importance of setting the right asking price. An overpriced home runs the risk of sitting (and stagnating!) on the market for a prolonged period of time. This can seriously hurt your bottom line, especially if you’ve already purchased another home and you’re paying two mortgages simultaneously. Beyond that, overpricing your home could make competing listings look even more attractive. And oftentimes, fixing the issue isn’t as simple as just re-listing the home at a lower price. Buyers who are shopping the market will have already seen your listing, and they will either discount it as old news, or they may wonder what’s wrong with the property, in light of the price reduction. An overpriced home is not an ideal situation to find yourself in, in any selling scenario. On the flip-side, underpricing your home means leaving money on the table. Setting the right price from the get-go will ensure your listing attracts serious buyers, and some feasible offers too.

So, how much is my house worth? Let’s find out.

Market Conditions
Is it a buyer’s market or a seller’s market? The real estate market is impacted by everything from the local and larger economic picture, to the weather. The type of market speaks to demand for homes, which will affect how quickly your home sells and will help answer the question, “How much is my house worth?” A buyer’s real estate market is characterized by more homes for sale than people to buy them. An influx of listings (or fewer homebuyers) means buyers face less competition in the purchasing process, and can often take their time and see more homes before making an offer. Buyers also have greater negotiating power when it comes to their offer and conditions of the sale.

The Comparables
If you’re not sure what your home is worth, have your real estate agent pull comparable sales to help answer the million-dollar question (depending on the market, of course!) “How much is my house worth?” This will give you an idea of what homes in the same neighbourhood have sold for in recent weeks. This is a realistic reflection of what buyers have actually paid for similar homes in the same area. It’s also prudent to keep an eye on your competition. Pay attention to homes for sale in your neighbourhood, their condition and features, and the asking price – but take it with a grain of salt. Depending on the seller’s strategy, they could have listed low in an attempt to attract more potential buyers.

The Location
A home’s location has a huge impact on its value, and rightfully so. It’s a particularly important consideration for buyers, as location is one thing you definitely can’t change about the home. Location will define the liveability of the neighbourhood, the price buyers need to pay to get into the area, and the resale value when it’s time to list it. Translation: hot neighbourhoods are always a hot commodity, oftentimes trumping market conditions.

The Home
A home’s location typically trumps style when it comes to value, but that’s not to say condition, features and upgrades don’t matter when you’re determining what your home is worth. A fixer-upper and a move-in ready home will vary in terms of price, even with identical floor plans. Items such as a new roof, a finished basement, renovated kitchen and baths can make a difference to the bottom line, and the return on investment could be well worth the money and effort. This is precisely why many home sellers choose to renovate or update their home before listing it for sale. Evaluate the cost of the renovation and consider whether you’ll get that money back in the face of real estate market conditions.

There’s a lot to think about before you put up that For Sale sign. What’s happening in the real estate market? Is there buyer demand? Who’s your competition? What is my house worth? And ultimately, what can I do to get the highest offer? Start by working with an experienced real estate agent who has a thorough knowledge of your specific area, the market conditions and your target buyer. Discuss all of the above with your real estate professional. At the risk of sounding like a public service announcement, education really is key in the buying and selling process, allowing you -to make confident decisions concerning your property – and your financial future.

For more details call our office RE/MAX Preferred Choice, our agents offer complimentary home evaluations, 780-962-8580.

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RE/MAX of Western Canada Quest for Excellence Bursary Program

RE/MAX of Western Canada is committed to helping future community leaders by offering $16,000 in bursary funds through its annual Quest for Excellence Program. One recipient—in addition to his/her bursary—will receive a hot air balloon ride for two.

The Quest for Excellence Program recognizes the pursuits in leadership and community contributions of Western Canadian students. High school students graduating in 2018 from British Columbia, Alberta, Saskatchewan, Manitoba, Yukon and Northwest Territories are encouraged to write an essay to convey the contributions they have made to enrich the lives of others and their communities through leadership, motivation, volunteering and participation in charitable events or fundraising.

“It’s truly amazing learning about our applicants for the Quest for Excellence Bursary Program each year,” says Marie Sheppy, Manager, Corporate Affairs, RE/MAX of Western Canada. “Their admirable attitudes and selfless actions allow them to impact their communities in a positive away.”

Sixteen winners will be selected from entries received online at remax.ca. Each winner will receive a $1,000 RE/MAX Quest for Excellence bursary. All 16 bursary recipients will be placed in a draw and one lucky student will also receive a hot air balloon ride for two from the closest major city. The application deadline is March 12, 2018.  Award recipients will be notified in April 2018, with a formal presentation at the students’ commencement ceremonies.

“All of the students we recognize each year through Quest for Excellence have made positive impacts on their communities,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “This is a program we’re incredibly proud of, because it helps empower these young leaders on their journey.”

For Quest for Excellence 2018 Information Flyer, click here!

For more information, including lists of past recipients and other links, please visit the original post on the RE/MAX Canada website here.