The Brantford Home Info Blog!

Thursday, December 1, 2011

Avoid These Red Flags When Shopping For Your Brantford Home!

Shopping for a new home is an exciting time: you get to move in to a brand-new place with a fresh environment and atmosphere. You also get to welcome a new neighborhood, such as Brantford, ON, into your life and call it home. Sometimes, in the excitement of making a big life change, many Brantford homebuyers would forget to look at some key indicators of a home. This can be a costly error.

In this real estate market, many home sellers are motivated and eager to get their home off the market. As a result, they may not disclose all aspects of the home to you. That’s why, as a Brantford real estate agent, I make it a priority to look out for my buyers’ best interests. Part of that is telling buyers exactly what to look for during their home search.

As a Brantford home buyer, you need to be on the lookout for red flags and things about the property that may need maintenance or repairs. If you don’t spend time inspecting the property thoroughly, then you could wind up with some costly repairs or major damages. Here are a few red flags you should look out for during your home search:

•    Are people leaving the street? If you’re seeing a lot of “For Sale” signs on the street or homes that look boarded up or neglected, then you may want to consider passing over the home. There’s a reason people are leaving the street. Get the scoop from the neighbors. It may help you avoid a bad investment.

•    Are plants growing in the gutters? Mediocre maintenance is a sign of a neglected home. Once you move in, you’re going to have a lot of work ahead of you if you have to patch up shoddy maintenance jobs done by the previous owners. Be on the lookout for this and ask the sellers to take care of it before moving in.

•    How solid is the foundation? Take a look at the yard. Is it sloping towards the house? That could cause water to run into the basement and create costly damages. Scour the foundation of each house you’re interested in looking at further. If you notice a lot of cracks or signs of wear, you will be stuck with some expensive renovations or maintenance fees.

•    Use your nose. Are you noticing strange odors in the interior or exterior of the home? Do you smell excessive bowls of potpourri? Both are major red flags, as it means the home may have mold or other issues, and the smell may never fully leave once the owners leave.

•    Does only one wall have fresh paint? Fresh paint jobs are a plus, but if you’re only noticing it on one wall, then chances are the owner is trying to cover up an issue, whether it be water damage or mildew. If you notice only one wall has fresh paint, be sure to ask the seller why and have your home inspector take a closer look at it.

The bottom line is this: If you’re truly interested in moving in to a Brantford home, then you need to get a home inspection. Getting an inspection will help you avoid being stuck with a home that involves costly maintenance and major renovations right away. Moving is stressful enough…you don’t need to add home damages to the mix.

As a Brantford real estate agent, I make it a priority to educate homebuyers on what they should be looking for during their search for the perfect property. Red flags such as these are important to look out for. If you have any questions, or are considering buying a home on the Brantford real estate market, don’t hesitate to contact me! I have several years of experience in real estate, and I’ve seen and heard it all. I hope to hear from you soon.

Connect with Me

Wednesday, November 23, 2011

Use Creative Finance Strategies for Your First Brantford Investment!

Given the high number of distressed and affordable properties on the Brantford real estate market, many buyers are looking to break into the investment aspect of the industry. There’s no doubt that money can be made off of investing in real estate. Using the right Brantford real estate agent to help you find the right investment properties is a great start to breaking in to the industry, but there’s one obstacle that leaves some Brantford property investors a little bit puzzled: financing.

While the current state of the market is healthy and interest rates are low, lending restrictions have gotten tighter across the board. This leaves many who are interested in investing in Brantford real estate at a stalemate: how are they supposed to make money off of investing in properties if they can’t get the financing to buy these homes in the first place? As a Brantford real estate agent, I have two words in response to this question: get creative. In order to make it as an investor in this real estate market, you need to think outside of the box when it comes to obtaining financing. Here are a couple ideas that should help you get the loans you need for your first investment.

• Get yourself a new home. This might sound a bit backward. If you’re looking to break in to the market, then why would you invest in a brand-new Brantford property? The answer is that interest rates are currently at an all-time low, and many lenders are only requiring 5% down payment on a property. If you can put that money down and rent out your own place, then you’ve successfully broken in to the investment business and are starting to get a cash flow on your old property that you’ve rented out.

• Get a HELOC. “HELOC” stands for “Home Equity Line of Credit.” A HELOC is similar to any other line of credit. You use the equity of your home as collateral, and as you start to pay off your mortgage, your credit limit increases. You can withdraw credit and make payments whenever you want. This is a great way to come up with the funds for your first investment property and still be able to keep your old home.

Using some of these creative tactics to obtain financing for your first investment will help you break into the Brantford real estate market. Once you get your foot in the door, you can build up your investment portfolio and start seeing a profit from your purchases. The key is to educate yourself. Do your research on any and every option possible and proceed with the one that best fits your situation. Doing this will help you learn the ins and outs of Brantford real estate much faster. The sooner you dive in to your first investment, the sooner you will see the profits start to come in.

As always, the most important thing about starting a new real estate venture is to make sure that you have the right industry professional by your side. As a Brantford real estate agent, I can help you navigate your way through the properties on the Brantford real estate market and find the ones that are right for investment. I’m always looking to help new investors get started in the business, so if you have any questions, don’t hesitate to contact me! I’d be happy to give you some advice and give you the names of some of my contacts in the business. I hope to hear from you soon!

Connect with Me

Tuesday, November 22, 2011

Just Listed: 186 Ontario Street - Four Bedroom in Brantford - Great for First Time Home Buyer or Investor!

Front View

Offered At:      $159,000
Bedrooms:     4
Bathrooms:    1

Excellent value!! First time buyers or folks looking for - inexpensive property. Great investment. Owners bought this home because of location. Close to schools, Grand River Trails, Parsons Park and quiet area. Solid 4 bedroom home with many features. Huge deck 15'x14', 100 amp service, new shingles approx. 3 years ago. Could be a cozy home or as a rental investment.

Property Features

Central A/C, Central Heat, Fireplace, Vaulted Ceilings, Hardwood Flooring, Tile Flooring, Living Room, Dining Area, Basement, Interior Laundry Room, Large Deck, Newer Roof, Nice Yard

Front View

Living Room

Dining Area

Kitchen

Bedroom 1

Bedroom 2

Bedroom 3

Bedroom 4

Full Bathroom

Connect with Me