Category: Selling

Why Downsizing is a Smart Move for Your Retirement

Post author By cindycody
Post date July 25, 2024

As you approach retirement, making strategic decisions about your lifestyle and finances becomes increasingly important. One such decision is whether to downsize your home. Downsizing isn’t just about moving to a smaller space; it’s about embracing a simpler, more manageable lifestyle that can significantly enhance your retirement experience. Think about a smaller area to clean, less home to maintain, smaller bills, and more time to do the things you want to be doing! By reducing living expenses, freeing up equity, and minimizing upkeep, downsizing offers numerous benefits that can help you enjoy a more comfortable and financially secure retirement. In this blog, we will explore the various ways downsizing can positively impact your golden years, providing you with the freedom and flexibility to pursue your passions and live life to the fullest.

Living Expenses Get Reduced

Transitioning from a larger family home to a smaller residence is a strategic financial decision that can free up cash flow and reduce the monthly financial pressures that come with maintaining a larger property. Transitioning to a smaller home can lead to substantial savings on utility bills, as reduced square footage decreases the cost of heating, cooling, and electricity. It can also result in lower property taxes and homeowners’ insurance rates, directly impacting annual expenses. The smaller the home, the less maintenance and repair it requires, saving money and reducing the physical and time demands on retirees.
remax.ca

Mortgage and Debt Relief

Selling a larger home to move into a smaller one can often result in the outright purchase of the new property, especially if the previous home has accumulated substantial equity over the years. This move can eradicate monthly mortgage payments, freeing up significant amounts of income that were previously tied up. Downsizing also offers a strategic advantage in managing and reducing other forms of debt. The additional capital gained from selling a larger property can be wisely used to pay off existing debts, such as credit cards, car loans, or lines of credit. This debt reduction strategy decreases monthly outgoings and minimizes interest payments, contributing further to financial freedom.
remax.ca

Equity Unleashed

For many retirees, their home is their largest asset, and the equity built up over the years represents a substantial portion of their retirement savings. Downsizing allows homeowners to convert this dormant equity into liquid assets. The equity unlocked from downsizing can dramatically reduce financial stress by providing a cushion that supports a comfortable lifestyle. For retirees facing the prospect of a fixed income, this additional capital can ease worries about the adequacy of their retirement savings, covering living expenses, healthcare costs, or unexpected financial needs. This financial breathing room allows retirees to enjoy their golden years without the looming anxiety of financial constraints.
remax.ca

Strategically Reallocate Your Investments

The equity unlocked from selling a larger home presents a chance to diversify and strengthen one’s financial portfolio for the retirement years ahead. The lump sum from downsizing can be strategically allocated into stocks, bonds, mutual funds, and other investment vehicles, depending on one’s risk tolerance and time horizon. For those reluctant to give up their stake in real estate, Real Estate Investment Trusts (REITs) offer an attractive alternative. Investing in REITs allows retirees to remain involved in property markets without the direct responsibilities of ownership. Investing in Tax-Free Savings Accounts (TFSAs) or using the funds to max out Registered Retirement Savings Plan (RRSP) contributions can significantly reduce tax liabilities. Consulting with a financial advisor can help retirees navigate these decisions, ensuring that the transition not only secures their financial future but also enriches their retirement years.
remax.ca

Find A New Location That Meets Your Needs

Many retirees prioritize being close to healthcare facilities, shopping centers, and recreational amenities. Downsizing often makes it financially feasible to move to areas that offer convenient access to these essential services. Urban or suburban communities specifically designed for retirees can provide everything from medical services to leisure and cultural activities within easy reach. The decision to downsize also opens up possibilities to relocate to areas with a more affordable cost of living. Moving from high-cost urban areas to smaller towns or cities can significantly stretch retirement savings.
remax.ca

Less To Take Care Of

Moving to a smaller home or a more manageable living space means there’s less to take care of on a day-to-day basis. The demands of cleaning, repairs, and general upkeep are minimized, freeing up physical energy and time that can be redirected toward more rewarding activities. For retirees, this reduction in maintenance tasks is a gateway to a stress-free lifestyle that prioritizes well-being and enjoyment over chores and responsibilities. A simplified living space also means a home more suited to their mobility needs. Downsizing often involves selecting homes with practical layouts, fewer stairs, and accessible features that can accommodate changing physical needs over time. This foresight ensures comfort and prolongs independence, making daily life more enjoyable and less encumbered by physical constraints.
remax.ca

More Time For Fun!

With the burdens of a large home lifted, retirees find themselves with a wealth of time to explore new hobbies or rekindle old ones. Whether it’s gardening in a more manageable space, joining community clubs, taking up photography, or exploring the great outdoors, downsizing creates the space and opportunity for retirees to engage in activities that enhance their physical, mental, and emotional well-being. It also means more opportunities for social engagement and building meaningful relationships. Downsizing often brings retirees closer to community centers, clubs, and groups that share similar interests, facilitating social interactions and friendships and countering the isolation that some retirees face.
remax.ca

Thinking About Downsizing?

How do you know when to downsize? For some, the answer is driven by the real estate market, for some its a financial decision, and for some people, it’s the desire to relocate closer to family (especially when a new family member is on their way!). There are lots of factors at play.

One thing you can be sure of is that our team is always here to help you along the way. If you’re wondering “is it the right time?” or if the thought has even crossed your mind, we’re always available to talk. Whether you want to have a discussion about how and when to downsize, or you’re ready to get started, we are here to support you.

If you have questions about downsizing, give us a call!

519-746-5136 sold@cindycody.ca

Neighbourhood Amenities Valued By Buyers

Post author By cindycody
Post date May 9, 2024

There are several neighborhood amenities that can significantly add to a home’s appeal. How valuable each neighbourhood amenity is will vary from buyer to buyer. Just as buyers have a specific wish list for home features, their specific lifestyle, wants, and needs will also impact how important different amenities are to them and how close they want to be.

As buyers are considering different neighbourhoods and picking their perfect location, here are some factors that may come into play.

Driving to amenities

Close proximity to certain key amenities may impact which neighbourhoods a buyer is interested in looking at. For example, some people will want quick access to major highways like the 401 and Highway 7/8, especially if they commute to work. Whereas buyers who work from home may value proximity to grocery stores, banks, and shopping plazas more.

Families will likely put high value on school zones and nearby parks.

Others may put emphasis on proximity to key locations that fuel their lifestyle, like golf courses, ski hills, community centre, and walking and biking trails.

Walking to amenities

Buyers could even be focused on amenities within the neighbourhood, or places they can walk to. For some, being able to walk to a downtown core is essential for visiting local restaurants, coffee shops, and pubs.

Sometimes a “Walk Score” is referenced in a property description to indicate how many amenities are within walking distance of an address. You can search Walk Scores here. You can also learn a transit score and how bikeable and address is.

Speaking of transit, some buyers are looking to specifically be walking (or biking) distance to public transit (the bus or the Ion), or easy access to GO stations.

Rural area amenities

For more rural areas, the biggest need is how far a family will be from their everyday needs and amenities like the grocery store. Buyers will consider their desired driving time. Typically we see that 10-15 minutes seems to be the sweet spot.

Every buyer has different needs so it’s important to highlight all types of amenities to a potential buyer who may be considering your home.

Saught-after Neighbourhood Amenities

Here are some more examples of amenities that buyers may have on their wish list:

Quality Schools: Proximity to well-rated public or private schools is often a top consideration for families with children. Homes in neighborhoods with good schools may command higher prices.
Parks and Green Spaces: Access to parks, playgrounds, trails, and other outdoor recreational areas can enhance a neighborhood’s appeal. Green spaces contribute to a sense of community and offer opportunities for leisure and exercise.
Retail and Dining: Proximity to shopping centers, grocery stores, restaurants, and cafes can increase convenience and quality of life for residents. Walkable neighborhoods with diverse retail options tend to be more desirable.
Public Transportation: Easy access to public transportation hubs such as subway stations, bus stops, or commuter rail lines can make a neighborhood more attractive, especially for urban dwellers who rely on public transit for commuting.
Cultural and Entertainment Venues: Neighborhoods with theaters, museums, art galleries, music venues, and other cultural attractions often have a vibrant atmosphere and appeal to residents interested in arts and entertainment.
Community Centers and Libraries: Facilities such as community centers, libraries, and recreational centers provide spaces for social gatherings, educational activities, and community events, contributing to a strong sense of community.
Safety and Security: Low crime rates, well-lit streets, and active neighborhood watch programs can make residents feel safer and increase property values.
Healthcare Facilities: Proximity to hospitals, clinics, urgent care centers, and other healthcare facilities can be a significant asset, particularly for families and seniors who prioritize access to medical services.
Gyms and Fitness Centers: Access to gyms, fitness centers, yoga studios, or sports facilities appeals to health-conscious individuals and families seeking opportunities for exercise and wellness activities.
Dog Parks and Pet-Friendly Amenities: For pet owners, neighborhoods with dog parks, pet-friendly establishments, and nearby veterinary clinics are highly desirable.

These amenities can vary in importance depending on the preferences and priorities of potential buyers, but collectively they contribute to the overall desirability and value of a neighborhood.

You don’t need to navigate the real estate market alone

Whether you’re a first-time homebuyer, a seasoned investor, or someone looking to sell, we can help you every step of the way.

sold@cindycody.ca | 519-746-5136

home improvements Home Maintenace House & Home Selling

Preparing Your Home For a Home Inspection

Post author By cindycody
Post date April 3, 2024

Image of a man in a hardhat and a clipboard looking at a door; image of a man with a clipboard looking at an eavestrough downspout; image of a man and a woman tightening a faucet; text reading: Preparing Your Home For a Home Inspection

Hey there, homeowners! So, you’ve decided to put your beloved house on the market—exciting times ahead! (Learn more about the Kitchener-Waterloo Spring Market here!) But let’s talk about one of those less-than-exciting parts: the home inspection. We get it, it can feel daunting, but fret not! With a bit of preparation, you can breeze through it like a pro.

First off, let’s acknowledge a universal truth: no home is flawless. It’s totally normal to have some quirks or issues here and there. Potential buyers understand this too. They just want to know upfront about any major stuff that might need fixing down the line—kind of like how you’d want the scoop before buying your next dream home.

Here are some friendly tips to help you get ready for that home inspection:

Tidy up: A clutter-free home not only makes a better impression but also allows the inspector to access every nook and cranny easily i.e. access to crawl spaces, attics and the basement. Plus, who doesn’t love a neat space?
Fix the basics: Got any leaky faucets or loose doorknobs? Now’s the time to tackle those little maintenance tasks, like re-caulking any areas that are looking worn. They might seem minor, but they show that you’ve cared for your home.
Organize documentation: Do you have receipts for recent repairs or renovations? Awesome! Gather those up—they could come in handy during the inspection. Some examples include: HVAC records, warranties, roof repairs, appliance installations, etc.
Check your systems: Take a quick look at your HVAC, plumbing, and electrical systems. Make sure everything’s working smoothly, replace any filters that are dirty, and test that everything is in working order. If not, consider having a professional take a look before the inspection.
Check safety features: This is a good time to double-check that your smoke detectors, carbon monoxide detections, etc. are in good working order (fresh batteries) and haven’t expired.
Trim up the exterior: Don’t forget to pay attention to the exterior of your home as well. Trim bushes and trees away from the home, clean out the gutters, and check the roof and siding for any potential need for repairs. Check that all your exterior light fixtures are working and that all paths are clear.
Be honest: Honesty is the best policy, especially when it comes to disclosing any known issues with your home. It builds trust and saves everyone time and hassle in the long run.
Leave the inspector to do their job: You may be tempted to stick around, but it’s a good idea to leave the home during the inspection.
Typically, potential buyers prefer to be present during the inspection. They might feel uneasy about asking the inspector questions if you’re around. Take the opportunity to go do something for a few hours.

By taking these simple steps, you’ll not only make the inspection process smoother but also show potential buyers that your home has been well-cared for. So take a deep breath, put on your homeowner hat, and get ready to ace that inspection!

If you have any questions about preparing your home for your home inspection, don’t hesitate to contact us. We’re happy to offer you our advice.

Thinking of selling your home?

Here are some other blogs you might be interested in:

More of the advice you want

Need help? We’re here to offer you professional real estate advice. If you’re thinking about selling your home now or even in a year or two, we’d be happy to connect with you about your goals. We’ll take a look at your home and offer advice on what you can do to prepare your home for this real estate market.

Moving Selling

Navigating the 2024 Spring Real Estate Market in Kitchener-Waterloo (and how to get your home ready)

Post author By cindycody
Post date March 14, 2024

As the snow melts away and the vibrant hues of spring start to paint the landscape, the real estate market in Kitchener-Waterloo awakens with renewed energy. The arrival of spring brings a flurry of activity to this thriving region, known for its dynamic blend of urban convenience and natural beauty. Whether you’re a seasoned homeowner, a first-time buyer, or an investor eyeing opportunities, navigating the real estate landscape in Kitchener-Waterloo demands insight, strategy, and a finger on the pulse of market trends.

Let’s explore some strategic steps you can take to make a move in the Kitchener-Waterloo real estate scene this spring. Whether you’re looking to plant roots in a new community, upgrade to your dream home, or capitalize on investment opportunities, this guide will serve as your compass in navigating the complexities of the 2024 spring real estate market in Kitchener-Waterloo.

Timing is everything

Timing is a crucial component in the spring market. If you’re thinking of selling your home, there’s a fine balance between taking some time to get your home ready to show and getting it on the market. Over the years, we’ve learned what that balance looks like (and we’re happy to guide you along the way).

That leads to our next strategy…

Call us sooner than you think

You may not be ready to move today, but if the thought has been on your mind, it’s the right time to call us. The spring market will happen quicker than most people think, so now is the perfect time to talk to us so we can discuss timing and help you have a great strategy.

Don’t wait for the flowers to bloom

Just because it’s called the “spring” market, doesn’t mean you need to wait for the warmer weather to list your home. A lot of people think they should wait for the spring weather before getting started, so it’s a great idea to beat the rush. The amount of inventory available will directly impact how much you can get for your home.

Understand the big 4 year forecast

The big 4 year forecast is a critical piece of information to help you determine when a movie is right for you. Not sure what we’re talking about? Ask us today!

We live and breathe the real estate market, so if you have any questions or concerns about the 2024 spring market, or how to navigate your way through the market, don’t hesitate to reach out!

sold@cindycody.ca
519-746-5136

Getting your home ready for the 2024 Spring Market

Whether you’re planning to list your property or simply want to elevate its appeal, this guide will walk you through the transformative process of getting your home ready to shine in the spring market.

Make a plan. Talk to us before you dive into your home preparation tasks. We can help you prioritize the areas that will benefit you most when you list your home.
Declutter and depersonalize. Start by decluttering each room, removing personal items, and excess furniture. This creates a sense of spaciousness and allows potential buyers to envision themselves living in the space.
Pack as you go. When you’re diving into decluttering, you might as well box some of your items up instead of tucking them away.
Make repairs. If you have a list of repairs and touch-ups you’ve been putting off for years, now is the time to work your way through that list. Address any visible issues or repairs that could deter potential buyers. A well-maintained home signals to buyers that it has been cared for and is move-in ready.
Clean clean clean. Give your home a thorough cleaning, paying attention to often overlooked areas such as baseboards, light fixtures, and windows. A clean home conveys a sense of care and makes a positive impression on buyers.
Enhance curb appeal. First impressions matter. Spruce up your home’s exterior by mowing the lawn, trimming bushes, planting flowers, and adding fresh mulch. Consider giving your front door a fresh coat of paint and adding a welcoming doormat.
Refresh paint and finishes. A fresh coat of paint can work wonders in revitalizing your home’s appearance. Stick to neutral colors that appeal to a broad range of tastes and help create a blank canvas for buyers to imagine their own style.
Highlight outdoor living spaces. Showcase outdoor areas such as patios, decks, and gardens by adding comfortable seating, potted plants, and outdoor lighting. Create inviting spaces that encourage buyers to envision themselves enjoying outdoor living.

Tags Spring Market

Buying Real Estate Investing Market Update Selling

Navigating the 2024 Kitchener-Waterloo Real Estate Market

Post author By cindycody
Post date January 16, 2024

As we step into the promising year of 2024, the real estate market in Kitchener-Waterloo continues to evolve, presenting both challenges and opportunities for prospective buyers, sellers, and investors. Let’s delve into the current trends and key insights shaping the real estate landscape in this vibrant region.

Kitchener-Waterloo Real Estate Market: 2024 Trends & Insights

→Market Overview

The Kitchener-Waterloo real estate market is set to start off strong with hopes of interest rate cuts.

“Experts are now predicting that we will likely see gradual rate cuts starting in Q2 of 2024 that will continue throughout year-end.” – Globalnews.ca

Kitchener-Waterloo has been a hotspot for real estate activity, thanks to its booming tech sector, reputable universities, and a robust economy. As of 2024, the market maintains its resilience, showcasing a balanced blend of urban development and suburban tranquility.

→Home Prices and Affordability

Home prices have witnessed a steady increase in recent years, but affordability has been a concern for many potential homebuyers in the past few years. The demand for housing, particularly in sought-after neighborhoods, has contributed to a competitive market. Savvy buyers are exploring emerging areas that offer a mix of affordability and future growth potential.

Driven by concerns over rising inflation, multiple interest rate cuts are anticipated in 2024.

“The Bank of Canada’s projections have interest rates coming down “sometime” in 2024″ – Globalnews.ca

However, the overall higher interest rates will have an effect on the market as mortgages come up for renewal. It is projected in Waterloo Region that 1 in 4 homeowners up for renewal will not qualify for the payment and thus need to sell.

→Inventory and Supply

While the demand for housing is high, challenges in inventory and supply persist. The limited availability of housing options in certain price ranges has created a competitive market, potentially leading to bidding wars. Sellers, on the other hand, may find this advantageous but must carefully navigate pricing strategies.

However, we may see many homes on the market in the Summer due to higher interest rates impacting mortgage renewal affordability.

→Investment Opportunities

Investors are eyeing Kitchener-Waterloo as a lucrative destination for real estate investments. The region’s economic stability and potential for growth make it an attractive option. However, thorough research and strategic planning are crucial to identify the most promising investment opportunities, whether in residential, commercial, or rental properties.

→Tech Sector Influence

Kitchener-Waterloo’s reputation as a tech hub continues to influence the real estate market. With major tech companies establishing or expanding their presence in the region, there’s a growing demand for housing from tech professionals. This has led to a surge in condominium developments and modern housing solutions catering to the preferences of the tech-savvy workforce.

→Sustainable Living and Green Spaces

The emphasis on sustainable living and green spaces is a notable trend in the real estate market. Buyers are increasingly seeking environmentally friendly and energy-efficient homes. Developers are responding to this demand by incorporating sustainable features into new constructions and promoting eco-friendly communities.

→Remove Work Impact

The rise of remote work has influenced homebuyers’ preferences, with an increased focus on homes that accommodate remote workspaces. The ability to work from anywhere has expanded the scope for individuals to consider suburban or rural areas without compromising career opportunities.

Let us help you unlock your real estate potential!

You don’t need to navigate the 2024 real estate market alone. Whether you’re a first-time homebuyer, a seasoned investor, or someone looking to sell, we can help you every step of the way.

sold@cindycody.ca | 519-746-5136

Buying Real Estate Selling

Decoding Real Estate Language | 5 Key Terms Explained

Post author By cindycody
Post date December 7, 2023

Cindy Cody Team - 5 Key Real Estate Terms Explained

Welcome to the dynamic world of real estate, where every transaction involves a unique blend of financial decisions, legal intricacies, and a dash of strategic negotiation. Whether you’re a seasoned investor, a first-time homebuyer, or simply curious about the fascinating realm of property dealings, understanding the language of real estate is an important place to start.

Today, we’re going to break down a few key real estate terms that you will probably come across on your real estate journey.

Whether you’re thinking about getting into the real estate market or you’re simply seeking to expand your vocabulary, here are some quick explanations of some common real estate concepts.

What is chattel?

Chattle is an item that isn’t permanently affixed to or an integral part of the property. Examples include furniture, appliances, and personal belongings. Unlike fixtures, which are attached to the property and considered to be part of it, chattel is distinct in that it can be removed without causing damage or altering the structure.

Why should you know what chattel is?

Understanding the distinction between chattels and features is crucial in real estate transactions. Understanding what is included in the sale of a home and the transfer of property is important in contractual agreements between buyers and sellers.

What is a cashback mortgage?

“Cashback mortgages are a type of mortgage that has gained popularity in Canada over the past few years. With a cashback mortgage, borrowers receive a lump sum cash payment from the lender at closing. This cash payment can be used for various purposes, such as covering closing costs, making home improvements, or paying off high-interest debt.” – remax.ca

Why should you know what a cashback mortgage is?

It’s always a good idea to know all of your financial options. Learn more about the advantages and disadvantages of a cashback mortgage here.

What is mortgage insurance?

Mortgage insurance is a safeguard that lenders require home buyers to acquire if their down payment is less than 20% of the sale price of a property. It’s put in place to mitigate the risk a financial institution takes on, i.e. in the event that a borrower defaults.

Why should you know what mortgage insurance is?

If you’re saving a down payment and/or planning on purchasing a home, this is something you’ll want to keep in mind for financial-planning purposes. Mortgage insurance may be a tool to protect lenders, but it also serves benefits for borrowers:

“From the borrower’s perspective, mortgage insurance allows them to access more favourable loan terms, including lower interest rates, even with a smaller down payment. It reduces the barriers to entry into the housing market, making homeownership a viable option for individuals who might otherwise struggle to accumulate a substantial down payment.” –remax.ca

Learn more about mortgage insurance and the types of mortgage insurance here.

What are pre-payment privileges?

Pre-payment privileges in a mortgage refer to the flexibility granted to borrowers, allowing them to make additional payments or pay off the entire mortgage principal before the scheduled term ends, often helping to reduce interest costs and shorten the overall loan period. These privileges vary among mortgage agreements and can include lump-sum payments, increased regular payments, or a combination of both.

Why should you know what pre-payment privileges are?

If you’re focused on becoming debt and mortgage-free, understanding what your pre-payment privileges are can help you in your financial planning, and knowing how much you can pre-pay can help you create a strategy for paying off your mortgage quicker. Learn more.

What are gifted down payments?

A gifted down payment is when someone (typically a family member) provides the funds needed for a buyer to meet the minimum down payment required to buy a home.

Why should you know what a gifted down payment is?

Understanding the option of gifting your children a downpayment (as an early inheritance, for example) is a big decision, but it’s also a decision that can be life-changing. You can help your children get into a great home sooner, your children can start building equity, and you can enjoy spending time together in the home. Learn more about the advantages of a gifted down payment, and how to gift a down payment.

If you ever have questions, we are here to help. Give us a call today!

519-746-5136
sold@cindycody.ca

Buying Real Estate Condos Investing Selling

3 Genius Ways to Generate Retirement Income With Your Home

Post author By cindycody
Post date October 12, 2023

Imagine a life where you can kick back, relax, and bask in the glory of your golden years, all while being financially secure. It’s the dream, right? But here’s the thing: you don’t have to solely rely on your savings or government pension. There’s a secret weapon in your arsenal – your beloved home! Your humble abode can actually help you create a retirement pension fund. So let’s jump right into the ways you can use your home to build that dreamy retirement fund you’ve always fantasized about.

Generate extra income by renting out part of your home

If you have extra space in your home (a room or an in-law suite), consider leveraging it as a money-making opportunity. The additional income can help you cover your mortgage payments, property taxes or other expenses. With the additional income flowing in, you might find yourself with the means to fund your retirement or explore new investment opportunities.

Or, if you have a serious case of wanderlust and you’re planning on traveling during your retirement, think about renting out your entire home while you’re away. Not only will this provide you with a steady source of income, but it also means you can enjoy your retirement adventures without worrying about your empty house.

Invest the profits from a downsize

Downsizing doesn’t have to be a daunting prospect. In fact, it can be a smart move to create a retirement pension fund. By selling your current home and moving to a smaller, more affordable property, you can unlock a significant amount of cash. And what do you do with that cash? Well, you can invest it in any number of ways to give yourself a steady stream of income during your golden years.

With a variety of property types available, the perfect fit for your portfolio will depend on your investment goals. That’s where we can help. Talk to us about the best kind of investment property for your specific situation.

Leverage your home equity to purchase a rental property

By leveraging the equity in your home to secure a loan or line of credit, you can become the proud owner of a rental property (a house or condo) that generates regular rental income. This can mean a steady stream of cash flow during retirement or as a supplement to your regular income. Plus, rental properties have the potential to appreciate in value over time, which can boost your overall wealth and leave a valuable asset for your family.

Read: 8 Reasons Why a Condo Is a Great Investment in Kitchener-Waterloo

Planning your next steps

Planning for your retirement is a big but exciting task. You’ve worked hard for your home and built up your home equity. Now you can leverage your nest egg to generate some additional income for your retirement. Imagine the peace of mind you could have in your golden years.

Make sure you do your research and consult with the right professionals (financial planner, real estate professional, etc.) to help guide you through some savvy financial decisions that can ultimately help you contribute to your pension fund.

If you have questions about downsizing or rental properties, we are here to help. Give us a call today!

519-746-5136
sold@cindycody.ca

Tags Retirement

Selling

4 Elements of an Offer To Pay Attention to (Beyond the Money)

Post author By cindycody
Post date July 13, 2023

If you haven’t sold a home before, something you may not know is that there are a number of elements that go into a real estate offer. Yes, the price is a large element of any offer, but there are other things for sellers to consider when choosing which offer to accept.

If the same five offers were presented to four different people, it’s not guaranteed that the same offer would be the most appealing to everyone.

Depending on the seller’s motivations, goals and urgency, certain elements of an offer may hold more weight than others. For example, some factors, such as financing, could eventually become a barrier to closing the sale, and therefore might be something a seller wants to seriously consider before accepting an offer.

So what else should sellers be looking at in an offer? Here’s a quick breakdown.

What Sellers Should Look For in an Offer: 4 Factors Other Than Money To Consider

Source: realtor.com

1. Research your preferred financing method

As a seller, you probably have an offer amount in mind that you would like the buyer to meet or exceed. But remember, a buyer needs to prove that he can afford to make the purchase—no matter what numbers are thrown around in an offer.

2. Look for a larger earnest money deposit

Next, you may want to pick an offer with a sizable earnest money deposit, also known as a good-faith deposit. This is a sum of money that a buyer entrusts to the seller’s brokerage firm to prove that he is serious about purchasing the home.

3. Consider fewer contingencies

In real estate, contingencies are benchmarks buyers set that need to be met for the transaction to continue moving forward. For example, many buyers will want to include an inspection contingency in the purchase contract. This means the buyer will need time to have your home inspected. And if any issues are found, a buyer might ask you to make repairs before he will close on the home.

4. Opt for an ideal closing timeline

Finally, consider your optimal timeline for heading to the settlement table. Moving out is a lot of work, especially if you’ve lived in the home you’re selling for a while. To that end, you’re going to want to ensure that you choose an offer with a closing date that suits your needs.
Read more.

Our team of experienced real estate professionals work hard to generate great offers for our sellers and help them to choose the best offer for their unique situation and needs.

Have a question about selling your home? Talk to us today!

Moving Selling

What To Leave Behind For The New Owners Of Your House

Post author By cindycody
Post date May 4, 2023

As you pack up your house and get ready to move into your next home, you may find it helpful to follow a packing timeline or moving checklist to guide you through the process. But do you pack everything?

How do you know what items to leave for the new homeowners?

First, you want to take everything with you that isn’t either included in the purchase agreement, or important to stay with the home. Don’t leave items behind just because you don’t want them. Think about when you move into your next home. You wouldn’t want to be left with trash, odds and ends, or mystery items.

To ensure you didn’t miss anything before you move out, do a room-by-room walk-through and check every cupboard and closet. Consider having a second person double-check as well.

Here’s a guide to some of the items that you may leave in the house.

Items included in the Purchase Agreement

Anything that the buyers asked for, and was included in the purchase agreement, should be left behind. This may include appliances, light fixtures, window treatments, or any other specific items they requested.

Replacement & maintenance items

Something that may not be in writing, but is usually safe to leave behind is anything tied to the maintenance of appliances, such as warranty information and manuals. A nice way to leave these behind is by organizing them all in a neat pile or folder.

If you have a small amount of extra or replacement supplies, you may consider leaving them as well. This may include a new furnace filter, a small number of replacement tiles that were leftover, extra cabinet hardware, a small amount of replacement stones or bricks for the backyard, etc.

Some people also choose to leave extra paint behind for the new owners. In this case, it should be a small number of cans, and ensure you label them with the room and/or include a paint chip if you still have one. (You might consider having your REALTOR ask in advance if this is something the new homeowners want, as they may be planning on repainting anyway).

A Welcoming Message

This is by no means a necessary item, but as we all know, moving is an emotional time. As you hand over your house to a new family, you may want to write a short note or card letting them know how much you enjoyed the house and welcome them to their new home.

If you’re preparing to move and you have any questions about items that should or shouldn’t be left with the home, don’t hesitate to ask us!

Buying Real Estate Investing Selling

Navigating Retirement & Homeownership

Post author By cindycody
Post date April 27, 2023

Transitioning into retirement is a big change in anyone’s life and it can cause you to re-evaluate your real estate goals. Both the decision to retire and what you choose to do with your current home are financial and lifestyle decisions – and important decisions that can impact how you choose to live your retired life.

Many people approaching retirement choose to sell their larger home and move into a more manageable property. For some people, downsizing means moving into a condo, which means less time spent on property maintenance. For others, it means moving into a smaller home and taking the opportunity to get rid of excess items in their home.

If you’re starting to plan your retirement and want advice on selling your home, strategic timing, or have questions about the real estate market, we are here to help. Contact us.

Here is some more information on the different homeownership options you may have for your retirement.

Retirement and Homeownership

Source: baseline.home-wizard.com

DOWNSIZING

Downsizing involves selling (or renting out) your current home and buying a smaller home.

There are many advantages to downsizing during retirement. A smaller home requires less maintenance, and can have lower taxes. It can also be better suited to reduced mobility that comes with aging, such as fewer stairs. Depending on how you finance the new home, downsizing can also reduce your monthly financial burden while on a fixed income.

Downsizing does require the management of the sale of your home (or transitioning of it to a rental property). If your home has appreciated significantly in value, there could be tax implications associated with a large capital gain with your home sale. Versus renting in retirement, downsizing still includes homeowner risks for unexpected major home repairs, which can be challenging when on a fixed income in retirement.

CASHOUT AND RENTING

This retirement strategy includes selling (or renting out) your current home and electing not to purchase a new home, but instead renting a place to live.

Depending on the financial situation of your current home (equity vs market value, remaining mortgage, etc.), selling your home and not re-investing in a new property can have a number of advantages. Freedom from home maintenance and not being responsible for property taxes are attractive aspects of renting. Plus, renting versus owning can make it easier to relocate in the future, as your lifestyle and needs continue to change during retirement.

On the other hand, becoming a renter brings the uncertainty of rent increases, which can be difficult when on a fixed income. Transitioning to renting also involves having to rely on a landlord for maintenance issues.

RELOCATING

For some, retirement brings the opportunity to move to a new location that is more consistent with your new lifestyle needs and desires.

Especially if your current location was chosen for the benefits of your children (school system, neighborhood, etc.), becoming an ’empty nester’ now affords you the opportunity to choose a location suited to your new priorities. This could be moving from the suburbs to be closer to the amenities of a more urban area, or relocating to the bliss of living in the countryside. A relocation can provide better weather conditions or access to important recreational settings. An important consideration for relocating can be improved proximity to family.
Read more.

Tags Downsizing, Retirement

Home Maintenace House & Home Selling

Easy Ways To Improve Your Home’s Curb Appeal

Post author By cindycody
Post date April 3, 2023

Let’s talk curb appeal for a minute. You’ve probably heard the term. It’s the first impression buyers get of a home when they see it from the street.

Why is curb appeal important?

That initial reaction a buyer has to a property can have a lasting impact.

Not only is that first impression formed as they walk up to a property, but it can also be started before beginning their in-person home viewing. If you’re selling your home, think about how it will present itself in photos online.

If you’re thinking of selling your home, we’d love to talk to you about your home’s curb appeal and how you can make a great first impression on buyers.

If you’re not planning on moving anytime soon, curb appeal still applies. Think about when you invite friends and family over to your home. Create an inviting aesthetic for your guests, but also for yourself. How awesome is it to walk up to a beautiful home and know it’s yours!

If you’re looking to make some improvements to your home’s curb appeal before buyers (and photographers) hit your driveway, here are some small changes that will make a big impact.

Curb Appeal Improvements In Under 60-Minutes

Check that nothing in sight is visibly broken and that light fixtures are in working order
Close the garage door and tuck away any potential eyesores (garbage bins, yard tools, toys, etc.)
Clear the driveway of your cars
Wash the front windows (inside and out) and garage door windows if there are any
Sweep the driveway, walkway and front entrance of any debris, leaves, etc.
Tidy up the lawn and gardens
If anything is really worn out, such as a welcome mat, consider replacing it

Put yourself in buyers’ shoes. Stand in front of your home and try to look at it with new eyes. Scan the property for any areas that could use sprucing up.

Need more inspiration? Check out these Jaw-Dropping Curb Appeal Makeovers

Get More Advice

Buying Real Estate Cindy Cody Team Selling

Have You Googled These Questions About Kitchener-Waterloo Real Estate?

Post author By cindycody
Post date March 30, 2023

If you have questions about the Kitchener-Waterloo real estate market, selling a home in Kitchener-Waterloo, or anything about real estate in general, you’re probably not alone.

We get questions all the time.

But sometimes people are too shy to ask, so they take their questions to Google for answers.

Today we’re taking a look at the top Googled questions about the Kitchener-Waterloo real estate market (and beyond).

What are people Googling when it comes to the Kitchener real estate market?

We used the “People also ask” feature of Google’s results to see the top Googled questions about Kitchener-Waterloo real estate. Here’s what we found:

Houses for sale in Kitchener

Many people are starting their home search on Google. They are searching for homes for sale around a specific price point.

You can find the latest homes for sale in Kitchener here.

Did you know a real estate professional can gather your specific criteria and notify you when properties that match become available? In fact, if you get in touch with us, we can let you know about properties even before they hit MLS.

What is the average house price in Kitchener-Waterloo?

Each month, the Waterloo Region Association of REALTORS reports key statistics from the previous month’s market activity, including average purchase prices. For example, in February 2023, the average sale price for all residential properties in Waterloo Region was $758,698.

How much is a detached house in Waterloo?

The WRAR monthly updates also break down the average sale prices by property type. For example, in February 2023, the average sale price of a detached home was $877,884.

Is Kitchener-Waterloo a good place to invest in real estate?

This is a great question! First, Kitchener-Waterloo is a vibrant and friendly community. KW is a fast-growing city, there are local education options, we have a thriving tech industry, a great Light-Rail Transit system, and there are great resale possibilities for residential or investment properties due to our proximity to the GTA.

Still not convinced? We spent some time answering questions just like this one.

What Are Top 5 Reasons to Invest in Kitchener-Waterloo Real Estate?

Why Is A Condo A Good Investment

Real estate agent

Some buyers and sellers aren’t quite sure where to start, so they use a generic search to find a real estate agent. There are lots of people who can help you sell your home, but you don’t want just anyone. Our recommendation is to work with a real estate professional who has the experience and the tools essential to help you achieve your real estate goals. For example, a network of local and out-of-town buyers, experience with the communities and strategies it takes to close a deal, and a trackrecord of trust and happy clients.

The Cindy Cody Team is connected, respected and proven. Learn more about why that matters.

RE/MAX Kitchener

RE/MAX is a trusted real estate brand, so we’re happy to see it pop up as a top real estate Google search. “For over 20 years, RE/MAX has been the number one real estate organization in Canada, and continually has the number one market share in virtually every region”.

Here’s something you might not know:

Cindy Cody is part of a cross-Canada network of RE/MAX agents. Which means, if you’re ever thinking about relocating, we can connect you with a top agent. Just ask!

If you have a question about real estate in Kitchener-Waterloo, we’re happy to be a resource for you. Contact us for all of your real estate needs!

Selling

When Should You Start The Conversation With A Real Estate Professional

Post author By cindycody
Post date February 8, 2023

Cindy Cody Team - When Should You Contact A Real Estate Professional

For homeowners who are thinking about selling their home, a common question we get asked is about timing and when the best time is to have a real estate professional into their home. Cindy Cody and Debbie Stefan sat down to talk about their advice on the ideal timing and why it’s the best time to connect.

When is the best time to invite a real estate agent into your home?

Should you invite a REALTOR into your home before or after a renovation? When should you call a real estate agent to start the process?

Cindy: I get asked that question a lot and the answer is always the same. As soon as you’re considering making a move – just considering making a move – give us a call. We always want both of you home because there are many new things in our industry you should know about. We discuss timing, which is actually a crucial part of our answer and when you should be selling. And obviously, we’d love to see the house and go over it with you. Sometimes you’ll have lots of questions. So anytime you’re considering making a move, give us a call and we’ll give you great advice.

Other Blogs You Might Be Interested In:

House & Home Moving Selling

What To Do Before You Make A Move | Getting Ready To Sell Your Home

Post author By cindycody
Post date January 26, 2023

Infographic with tips to get your house ready to sell

If you’re planning on selling your home, it’s never too early to start thinking about what needs to be done. When you step back and look at your home, there might be some obvious changes that need to be made, but there could also be some things that you won’t think of or notice.

When we talk to people who are early in the thinking-of-selling position, there’s always one key piece of advice we offer: before you put any effort into getting your house ready, talk to a seasoned real estate professional. Why? A real estate professional with years of experience can have a keen eye for detail and come up with a customized list of the things you can do to get your home ready.

Advice based on your specific home, your neighbourhood, the current market, industry trends and so much more can set you in the right direction so you’re able to get your home ready in an efficient and effective manner.