Hire an Experienced Realtor in Winnipeg: Reduce Stress During Your Purchase or Sale

Purchasing a property or selling one is a hectic process, isn't it? Having an experienced and knowledgeable realtor by your side can make all the difference. In the vibrant city of Winnipeg, one name stands out as a trusted and experienced realtor in Winnipeg- Dino Stepic. With his extensive experience, personalized service, and commitment to client satisfaction, Dino is your go-to realtor for all your real estate needs in Winnipeg.

Unparalleled Experience and Expertise

Dino brings a wealth of experience and expertise to the table. With years of working in the Winnipeg real estate market, Dino has developed an in-depth understanding of local neighborhoods, market trends, and property values. This knowledge allows him to provide valuable insights and guidance to clients, helping them make informed decisions. Whether you're buying or selling a home, Dino's expertise ensures a smooth and successful transaction.

Personalized Service Tailored to You

With Dino Stepic and his team, personalized service is at the heart of everything they do. They understand that each client has unique needs and goals. Dino takes the time to listen and understand your specific requirements, preferences, and budget constraints. By truly understanding your needs, Dino's team can provide tailored solutions and recommendations, ensuring that you find the perfect home or sell your property for the best possible price.

Extensive Network and Connections

Dino has built a strong network of industry professionals, including mortgage brokers, home inspectors, and lawyers, who can assist in every step of the buying or selling process. These connections allow Dino to provide clients with access to trusted and reliable partners who share the same commitment to excellence. With Dino and his team, you can be confident that you have a comprehensive team working on your behalf.

Guidance and Support Throughout the Process

Navigating the real estate process can be overwhelming, especially for first-time buyers or sellers. Dino is there to guide you through every step, providing support and answering any questions you may have. From initial consultations and property viewings to negotiations and closing, Dino ensures a smooth and stress-free experience. Their attention to detail and commitment to client satisfaction is evident in every interaction.

Expert Negotiation Skills

One of the hallmarks of a skilled realtor is their negotiation prowess. Dino has honed his negotiation skills over years of experience, ensuring that their clients get the best possible deals. Whether it's negotiating the purchase price or navigating complex contract terms, Dino advocates for your best interests. His goal is to secure the most favorable outcomes and ensure that you walk away satisfied with your real estate transaction.

Commitment to Client Satisfaction

Dino and his team take pride in their commitment to client satisfaction. They understand that buying or selling a home is a significant life event, and they strive to make it a positive and memorable experience for their clients. Dino is known for their professionalism, integrity, and transparency. Their dedication to going above and beyond sets them apart as a realtor who genuinely cares about the needs of his clients and strives for their success.

If you're looking for an experienced and trustworthy realtor in Winnipeg, look no further than Dino Stepic. With his personalized service, extensive network, and commitment to client satisfaction, Dino and his team are the ideal partner to guide you through your real estate journey. Whether you're buying or selling, trust Dino Stepic.

We’ve all heard it before, “Location, location, location!” While location does play a role in the desirability of a home, it isn’t the only thing that potential buyers will consider. It is important for prospective buyers to see the potential of a property and that means curb appeal, function, and being able to envision putting their personal stamp on a home. Instead of focusing on curb appeal alone, more and more Winnipeg residents are considering what makes houses tick. If you are hoping to add value to your property before sale, our team has compiled a list of the best ways to get the most bang for your buck.

There are multiple ways to add value to a home for sale, some of which can be done in a day while others require a bit more time and financial investment. Everything from curb appeal, amenities, property type and buyer trends will impact your sale, so we have taken the liberty of creating a list of tasks both large and small that will help to add value to your property.

Kitchen & Bathroom Renovations: What to Know

Kitchens and bathrooms are the gold standard for home renovations. These come along with higher costs but they are well worth it for a higher return on investment. It might seem counter-intuitive to put time and money into a renovation only to move out but something as small as a fresh paint job and detailed finishes can improve visual appeal and return up to 66% of your renovation budget. Renovating a kitchen or bathroom can be scaled to match your budget, so here are a few ways to accomplish a boost in appeal based on your investment level:

Affordable Prices: A fresh coat of paint on walls or cabinet doors can help to create cleaner visuals. Modern door hardware, replacing dated light fixtures, window coverings and even a new backsplash are eye catching additions that add to your home’s appeal.

Higher Costs: The most costly upgrades to any room in a home are new appliances. In the case of a bathroom, new faucets or energy efficient toilets improve both look and function. Heated floors are a great selling feature for those cold Winnipeg mornings. The cost of kitchen appliances can be worked into sale prices, as well as providing the possibility of existing warranties and the assurance that they will not need to be replaced any time soon.

Consider a Rental Suite: Demonstrating Value

If your home has a finished basement, consider updating the existing space into a secondary living space. This is a huge draw for potential buyers and adds the option to earn rental income. This can be additional accommodations for family members, or having a renter. This type of renovation adds a huge jump in possible asking price. Standard rental suites offer a bedroom, living space, full bathroom and kitchen area.

Create Usable Outdoor Space in Your Home

A blank space is best for some buyers but others need help to see the full potential of an outdoor area. Adding a patio or deck is an instant upgrade to any space and a bit of privacy can

go a long way. Adding privacy additions to fencing, installing a fire pit or building a garden bed can all help to create a comfortable and inviting space. A cozy space is the ideal place to entertain and potential buyers will see the value in that.

Update Your Curb Appeal: Create the Best First Impression

The exterior areas of a home is the first impression that it makes to the outside world. Because your home’s appeal starts outside, it is important to begin your staging right in your front yard. The most common upgrades to these areas are painting, installing a new front door or garage door and, of course, landscaping. An easy fix is to paint the front door or front porch, plant bright flowers (depending on the time of year) and solar powered garden lights are all accessible home improvements that boost curb appeal.

The Devil is in the Details: Why You Should Sweat the Small Stuff

When purchasing a home, potential buyers will be going over houses with a fine-toothed comb. This means that even the smallest elements of your living space will be looked over. A small crack in moulding or pulled up corner of wallpaper can be a deterrent for buyers. Removing wallpaper is an easy upgrade and it is important never to underestimate the impact of a fresh coat of paint. For functional spaces like laundry rooms, a single shelf adds additional space and organization. More shelves and practical storage are appealing for families and hobbyists.

Make the Most Out of Staging: Create a Blank Slate Before Sale

Even after a renovation, there are additional ways to enhance the look of your home. When staging a home it is important to consider location, key buyers and lifestyle. For example, if you live in a residential area near a school, chances are that you are catering to families. Staging a child-friendly home often means showcasing a playroom, open spaces and minimally furnished bedrooms.

In a downtown or more commercial setting, you are likely attracting young professionals, both single and coupled. If this is the case, setting the stage for a coffee bar, office space or even cocktail corner adds perceived home value.

Just like with a home’s exterior, value starts right when you step in the door. An accessible entry way that is not cluttered is the best way to greet potential buyers. Adding a large mirror can give the illusion of more square footage and clear surfaces lend an air of structure that is appealing.

How REALTORS® Can Help You Add Value to Your Home

When it is time to sell, you have to plan to sell and Dino Stepic can help! Local real estate agents have access to recent sale listings, networks of designers, landscapers and can help to provide insight into what works and what doesn’t.

More often than not, REALTORS® have preferred rates with local experts that can help to increase your home’s curb appeal, as well as improving the appearance of interiors. Every year, homeowners attempt to add curb appeal without consulting an expert. This often results in high costs, maxed credit cards and don’t always end with a return on investment. Before committing to a project, consult a highly experienced local REALTOR® to find out how to stretch your budget without stretching your patience.

When it comes to buying and selling real estate in Winnipeg, the key is to find hidden gems in this thriving Canadian city. Winnipeg offers a diverse housing market. It has many opportunities for buyers and sellers alike. In this blog, we will explore unique aspects of the real estate market in Winnipeg and provide valuable insights for those looking to make a move. So, let's dive in!

Finding the Perfect Neighbourhood: A Guide to Winnipeg's Finest

Choosing the right neighborhood is crucial when buying or selling a property. Winnipeg boasts a variety of vibrant communities. Each with its distinct character. From historic neighborhoods to Exchange District and South Osborne. There is something for everyone. Consider your lifestyle preferences. Along with proximity to amenities, and future development plans. Find the perfect neighborhood that aligns with your goals.

Unveiling Winnipeg's Affordable Housing Market: Opportunities Await

One of Winnipeg's standout features is its affordable housing market. Compared to other major Canadian cities, real estate prices in Winnipeg remain accessible. This affordability opens doors for Buying and Selling Real Estate in Winnipeg. Both for first-time buyers and investors alike. Presenting excellent opportunities to enter the market or expand your portfolio. Take advantage of the city's diverse range of housing options. Including condos, townhouses, and small homes, all within a reasonable budget.

The Unique Benefits of Winnipeg's Four Seasons: Embrace the Outdoors

Winnipeg experiences all four seasons in their full glory. Providing residents with a unique lifestyle. Something that is enriched by the outdoors. Whether you're an avid skier or hiker or enjoy the beauty of changing seasons. Winnipeg's natural landscape has it all. Proximity to parks, trails, and outdoor recreational facilities. Winnipeg's commitment to green spaces ensures you'll never be far from nature's tranquility.

Winnipeg's Growing Economy: A Solid Investment Opportunity

The city's growing economy makes Winnipeg an attractive destination for real estate investment. With a diverse range of industries, including aerospace, manufacturing, and technology. The job market remains robust. Creating stability in the housing market. Investors can find excellent opportunities to capitalize on rental income. Student housing, or commercial properties. Stay informed about the city's economic development plans. Along with upcoming projects to maximize your investment potential.

Navigating the Real Estate Market with Expert Help

Buying or selling real estate is certainly very hard. But having an expert who can help makes it a lot easier. Partnering with a reputable real estate agent will be highly beneficial for you. Someone who knows the Winnipeg market inside out can provide valuable insights. Guidance, and access to exclusive listings. An experienced agent can help negotiate the best deal. Ensure a smooth transaction, and offer advice based on their in-depth knowledge of the local market.

Conclusion

In the ever-evolving world of real estate, Winnipeg stands out as a city brimming with hidden gems. With affordable housing, diverse neighborhoods, a vibrant economy, and a beautiful natural landscape. The opportunities for buying and selling real estate in Winnipeg are abundant. So, embrace the uniqueness of Winnipeg's real estate market and explore the potential it holds. Don't miss out on securing your piece of this remarkable city! Connect with our team of experienced real estate professionals at Dino Stepic. And discover the hidden gems in Winnipeg's real estate market. Let us guide you toward making informed decisions and achieving your buying or selling goals. Contact us today to kickstart your Winnipeg real estate journey!

When it comes to navigating the real estate market in Winnipeg. Having an experienced REALTOR® in Winnipeg will make you smarter. They can influence and enhance your decision-making process. An experienced REALTOR® possesses in-depth knowledge. Valuable insights, and proven expertise. That can make your property transactions smarter and more successful. In this article, we will explore how partnering with an experienced REALTOR® in Winnipeg can benefit you in several ways.

The Expertise of an Experienced REALTOR® in Winnipeg

An realtor in Winnipeg REALTOR® has an extensive understanding of the local real estate market. They stay up-to-date with current trends. Along with property values, and neighborhoods. allowing them to provide accurate advice and guidance. Their expertise ensures that you make informed decisions. While buying properties, selling properties, or investing in properties.

Access to Exclusive Listings

Working with an expert grants you access to exclusive listings. That may not be available to the general public. These hidden gems could be properties with unique features. Along with high potential, or attractive investment opportunities. By tapping into their network and connections. Your REALTOR® can present you with a broader range of options. They will meet your specific requirements.

REALTORS® Have Extraordinary Negotiation Skills and Market Insights

Negotiating real estate deals requires finesse. Along with knowledge, and a deep understanding of market dynamics. A seasoned REALTOR® possesses excellent negotiation skills. Which allows them to secure favorable terms and prices on your behalf. Additionally, they can provide valuable market insights. Helping you determine the right time to buy or sell a property. Which further ensures you make smarter financial decisions.

Seamless Transaction Management is Dino Stepic's Specialty 

Navigating the intricacies of real estate transactions can be very hard. Especially if you lack prior experience in the field. An experienced REALTOR® acts as your trusted guide throughout the process. Handling paperwork, legal requirements, and negotiations with other parties involved. Their expertise ensures a seamless transaction, saving you time, effort, and potential headaches.

With them, you can have Long-term Benefits and Investment Opportunities

An experienced REALTOR® understands the long-term benefits of real estate investments. And they can help you identify lucrative opportunities. They have a keen eye for spotting properties with high appreciation potential. Along with rental income prospects, or emerging neighborhoods with growth potential. By leveraging their expertise, you can make smarter investment choices. These choices will yield profitable returns in the future.

Conclusion

Partnering with an experienced REALTOR® in Winnipeg is a smart decision. It can save you both time and money while navigating the real estate market. Their expertise along with other capabilities mentioned above are invaluable assets. They can lead to more successful outcomes. So, whether you're buying, selling, or investing in Winnipeg real estate. Don't underestimate the power of having an experienced REALTOR® by your side. To make smarter real estate decisions and capitalize on the opportunities in Winnipeg's real estate market, contact Dino Stepic. The leading and trusted REALTOR® in the area. Take advantage of their expertise and experience to achieve your property goals. Call Dino Stepic or visit our website. Your real estate success begins with a knowledgeable and experienced Winnipeg REALTOR®, now!

Whether you are going to hire a residential real estate agent in Winnipeg or not, purchasing any of its non-commercial properties can certainly offer you the opportunity to build equity over time, not to mention the pride and satisfaction that come with your homeownership. However, saving for such a significant financial investment requires careful planning and discipline. In today’s discussion, we will provide you with the most effective strategies and handpicked practical tips to help you save a fortune on your upcoming real estate purchase and accomplish your objective of owning a freehold property anywhere in Manitoba.

Make sure to prepare a budget in the first place before embarking on your homeownership journey. Critically assess your financial situation and find out how much you can comfortably allocate toward saving for a freehold property. Consider your income, existing expenses or liabilities, and any debt obligations. A realistic budget will serve as an impeccable foundation for your savings plan.

Set a specific savings goal as soon as you have established your budget. Determine the amount of money you will need for the minimum down payment, closing costs, and other associated expenses. Having a clear target will keep you motivated and enable you to monitor your progress properly along the way. Note that you must develop a savings plan that perfectly aligns with your budget and savings goal.

Consider the timeframe within which you intend to purchase the property (feel free to consult a residential real estate agent in Winnipeg concerning the same if required) and break down your ultimate goal into smaller, manageable targets. Compute how much you need to save every month and create a timeline to achieve the desired outcome. Evaluate your overheads and identify potential areas where you can afford to curtail costs.

Thoroughly analyze your monthly spending habits and identify non-essential articles and/or services that you can afford to reduce or even eliminate. To put things into perspective, consider negotiating lower rates for utility services and/or insurance policies. In addition, prioritize paying off high-interest debts since this will free up more funds for your savings eventually. Creating a contingency fund is crucial to safeguard your savings from unaccounted expenses.

Set aside a portion of your monthly savings toward an emergency fund that can cover at least three to six calendar months' worth of living expenses. Having this safety net will essentially prevent you from tapping into your property savings in case of any unforeseen circumstances. Note that there may be government programs and/or incentives available exclusively for first-time homeowners at the federal/provincial level to assist them with purchasing a house in Manitoba.

You should also take into due consideration every potential opportunity to boost your income and grow your savings in the shortest possible time. Do not hesitate to explore options, such as taking on a side gig, freelancing, or monetizing a hobby. Furthermore, consider negotiating a raise or applying for jobs that offer higher income potential. You may directly allocate the additional income toward your property savings.

Call Dino Stepic now to schedule a no-obligation consultation at your convenience with a residential real estate agent in Winnipeg!

Are you planning to purchase a new house shortly but feeling overwhelmed by the entire process? Look no further than our property-buying service! Our dedicated team of licensed real estate agents in Winnipeg is committed to making your real estate shopping simple and stress-free.

We will begin by getting to know you and your unique requirements. Next, we will search for properties in your preferred neighborhood/s based on your criteria. Our property brokers enjoy unrestricted access to exclusive home listings and we will collaborate with you tirelessly to help zero in on the house of your dreams in the shortest possible time and without spending a fortune.

Once we have found one that suits your preferences and is within the specified budget, we will guide you through the negotiation process. We will coordinate with you at every step to help secure you the most lucrative offer and our award-winning team of licensed real estate agents in Winnipeg will negotiate with the seller on your behalf to reduce the property price as much as possible.

We will continue to extend our assistance to the best of our ability in every possible way even after the sale is closed. We can even recommend trusted contractors and service providers to help you relocate to and settle into your new abode. We certainly understand that purchasing real estate can often prove to be quite a daunting experience for most, particularly for first-time buyers, and that is why we have a handpicked team of seasoned Canadian REALTORS® with an extensive understanding of each of the city-based property markets in Manitoba.

We take great pride in our insistence on following a personalized approach for every client. Our company does not believe in having a one-size-fits-all policy and we take the time to understand not only them but also what they are looking for to design a custom solution from scratch. From arranging necessary financing to scheduling home inspections and working with legal services, we will take care of every aspect of your homeownership journey so that you do not have to worry about anything at all.

Call Dino Stepic now to schedule a no-obligation consultation at your convenience with a licensed real estate agent in Winnipeg!

Purchasing a house either in Winnipeg or anywhere else is not merely a significant decision, but also a commitment towards creating a home that accommodates you and your loved ones for potentially many years to come. The process of house hunting, browsing through online listings, and visiting open houses, can be thrilling as it enables you to identify the type of home that best suits your needs.

Nevertheless, buying a house can also be an arduous journey, involving securing a mortgage, navigating bidding wars, and investing time, resources, and energy into your search for your dream home.

For first-time homebuyers, the experience can be intimidating. Although the following information is geared towards first-time home buyer winnipeg, it is also valuable for anyone seeking a comprehensive guide to the home-buying process. So, let's delve into the essential factors you must consider before making one of the most substantial investments of your life.

Quick guide for first-time home buyers

Determine your budget

As you start looking for homes, you need to determine how much you can afford to invest. Take a close look at your finances and consider your current expenses and future goals. You can use online mortgage calculators to get an idea of what you can afford.

Get pre-approved for a mortgage

Getting pre-approved for a mortgage will give you a clear idea of how much you can borrow and what your interest rate will be. It will also depict sellers that you're a serious purchaser and give you benefits in a competitive market.

Find a real estate agent

A good real estate agent can help you navigate the housing market and find homes that meet your needs and budget. Look for an agent who is experienced, knowledgeable, and has a good reputation.

Start house hunting

Once you have a budget and a real estate agent, it's time to start looking at homes. Attend open houses, schedule private showings, and take note of what you like and don't like about each home.

Make an offer

As you got your perfect home, it's time to make an offer. Work with your real estate agent to come up with a competitive offer that takes into account the current market conditions and the condition of the home.

Get a home inspection

Before you close on the home, it's essential to get a home inspection. A home inspector will look for any potential problems with the home, such as leaks, structural issues, or pests.

Close the deal

If the inspection goes well, it's time to close on the home. At the closing, you'll sign all the necessary paperwork and pay the closing costs. After that, you'll get the keys to your new home!

Buying your first home can be a challenging and emotional experience, but with the right preparation and guidance, it can also be one of the most rewarding experiences of your life. Follow these steps, and you'll be well on your way to becoming a proud homeowner.

It’s easy to get swept up in the excitement of buying a home. Once you’ve had an offer accepted on your dream house, you’ll probably be anxious to move in. However, before you make a significant financial commitment, it’s best to know exactly what you’re buying.

When you hire a home inspector, you get a professional, in-depth examination of the property’s structures and systems. It’s a worthwhile investment that can save you money in the long run, either by warning you away from a bad purchase or by providing a list of deficiencies you can use to negotiate with the sellers. 

The inspector’s report will also list minor repairs that, if made, will help to maintain your home over the long term. Additionally, a good inspector can often predict the standard life expectancy of your roof, HVAC, and other big-ticket items so you can start planning for their eventual replacement.

However, many buyers make mistakes during the inspection process that cost them time and money and lead to unnecessary stress. Avoid these eight common buyer blunders to minimize your risk, protect your investment, and give yourself peace of mind and confidence in your new home purchase.

MISTAKE 1: Skip Your Own Inspection

Many buyers rely on their home inspector to point out issues with the property. However, by conducting your own visual assessment before you submit an offer, you can factor expected expenses into the offer price. Or, if you suspect major problems, you may choose to move on to a different property altogether.

Examine the walls and ceilings. Are there suspicious cracks, which could point to a foundation issue? Any discoloration? Yellow spots can indicate water damage, while black spots are typically mold. If there’s a basement, look for powdery white deposits along the walls and slab, which can result from water seepage.

To assess the plumbing, start by turning on a bathroom sink or tub, then flushing the toilet. Check for a drop in water pressure or a gurgling sound coming from the pipes. You can also try running the water in sinks and tubs for several minutes to test for drainage issues. Peak underneath sinks to spot signs of leaks or drain pipes that go into the floor instead of the wall. 

Look for fogged or drafty windows, which may need replacing. Examine the roof for signs of cupped, curled, or cracked shingles. Check siding, decks, and other wooden structures for evidence of rot.

Overall, does the home appear to be well maintained? Unless it’s a highly-competitive seller’s market, consider the overall condition of the property BEFORE you submit an offer. Work with your real estate agent to factor in repairs and updates you know you’ll need to make when you determine your offer price.

MISTAKE 2: Hire the Cheapest Inspector

We all love to save money, but not all inspectors are created equal. Before you hire one, do a little research. You may even want to start shopping for an inspector before you complete your home search. Inspection periods are typically short, so it never hurts to be prepared. 

You can start by asking around for recommendations. Check with friends and family members, as well as your real estate agent. Then contact at least two or three inspectors so you can compare not only price but also levels of experience and service. 

Ask about their background, years of experience, and the number of inspections they have completed. Verify their certifications and credentials, and make sure they carry the proper insurance.

Find out what is (and what isn’t) covered in the inspection and if they utilize the latest technology. Ask to see a sample report so you can compare the style and level of detail provided. Finally, make sure you feel confident in the inspector’s abilities and comfortable asking him/her questions.

MISTAKE 3: Miss Attending the Inspection

Make every effort to be on-site during the inspection. Buyers who aren’t present during their inspection miss out on a great opportunity to gather valuable information about their new home.

If can attend the inspection, don’t spend all your time picking out paint colors or chatting with your new neighbors. Instead, use your time there to shadow the inspector. It’s the perfect chance to find out where everything is located, ask questions, and see first-hand what repairs and updates may be needed.

Of course, if you do choose to tag along with your inspector, exercise good judgment. Don’t get in the way, become a distraction, or do anything to jeopardize your (or the inspector’s) safety.

If you can’t make it to the inspection, ask if you can schedule a time to meet in person or speak by phone to go over the report in detail. It will give you an opportunity to ask questions or request clarification about issues in the report you don’t fully understand.

MISTAKE 4: Skim Over the Report

Inspection reports can be long and tedious, and it can be tempting to skim over them. However, buyers who do this risk missing crucial information.

Instead, you should read over the report carefully, so you don’t miss anything significant. Now is the time to address any areas of concern. You have a limited window of time to request repairs or negotiate the selling price, so don’t squander it.

Your inspector may also flag some minor items that you wouldn’t typically expect a seller to fix. However, ignoring these small issues can sometimes lead to bigger problems down the road. Make sure you read everything in the report so you can take future action if needed.

MISTAKE 5: Avoid Asking Questions

Some buyers are too embarrassed to ask questions when there’s something in the inspection report they don’t understand. Afraid they might look foolish, they avoid asking questions and end up uninformed about important issues that could impact their home purchase.

The reality is, questions are expected. You hired your inspector for their professional expertise, so don’t be shy about tapping into it. For example, you might ask:

• Would you get this issue fixed in your own home?
• How urgent is it?
• What could happen if I don’t fix it?
• Is this a simple issue I could fix myself?
• What type of professional should I call?
• Can you estimate how much it would cost to make this repair?
• How much longer would you expect this system/structure/appliance to last?
• What maintenance steps would you recommend?

Don’t bother asking your inspector if you should buy the property, because he/she won’t be able to answer that question for you. Instead, use the information provided to make an informed decision. A skilled real estate agent can help you determine the best path.

MISTAKE 6: Expect a Perfect Report

Some buyers get scared off by a lengthy inspection report. But with around 1600 items on an inspector’s checklist, you shouldn’t be surprised if yours uncover a large number of deficiencies. The key is to understand which problems require simple fixes, and which ones will require extensive (and costly) repairs. 

Your real estate agent can help you decide if and how to approach the sellers about making repairs or reducing the price. Whatever you do, try to focus on the major issues identified in the inspector’s report, and don’t expect the sellers to address every minor item on the list. They will be more receptive if they perceive your requests to be reasonable.

MISTAKE 7: Forgo Additional Testing

There are times when an agent or inspector will recommend bringing in a specialist to evaluate a potential issue. For example, they may suggest testing for mold or consulting with a roofing expert. 

Some buyers get spooked by the possibility of a “red flag” and decide to jump ship. Or, in their haste to close or desire to save money, they choose to ignore the recommendation for additional testing altogether. 

Don’t make these potentially costly mistakes. In some cases, the specialist will offer a free evaluation that takes minimal time to schedule. And if not, the small investment you make could provide you with peace of mind or save you a fortune in future repairs.

MISTAKE 8: Skip Re-inspection of Repairs

Most buyers request receipts to prove that repairs have been correctly completed. However, it’s always prudent to go a step further and have negotiated repairs re-evaluated by your inspector or another qualified professional, even if there’s an additional charge.

While the majority of sellers are forthcoming, some will try to save money by cutting corners, hiring unlicensed technicians, or doing the work themselves. A re-inspection will help ensure the repairs are completed properly now, so you aren’t paying to redo them later.

To avoid having to go back to the sellers, be specific when requesting repairs. Identify the problem, how repairs should be completed, who should complete the work, and how the repairs will be verified.

Some buyers prefer to avoid this step altogether by completing the work themselves. They either request that the seller fund the repairs or reduce the selling price accordingly. Whichever path you choose, protect yourself and your investment by ensuring the work is done properly.

Avoid Home Inspection Mistakes With Help From Dino Stepic

A home inspection can reduce your risk and save you money over the long-term. But to maximize its effectiveness, it must be done properly. Avoid these eight common home inspection mistakes to safeguard your investment.

While these are some of the most common missteps, there are countless others that can trip up home buyers, cost them time and money, and cause undue stress. Fortunately, we have the skills and experience to help you avoid the potential pitfalls.

If you’re in the market to buy a home, we can help you navigate the inspection and all the other steps in the buying process … typically at no cost to you! Tap into our expertise to make the right decisions for your real estate purchase. Contact us today to schedule a free consultation!

Sources:

1. Family Handyman -
   https://www.familyhandyman.com/tools/diy-home-inspection-tools/view-all/
2. HGTV -
   https://www.hgtv.com/design/real-estate/finding-the-right-home-inspector
3. The New York Times -
   https://www.nytimes.com/2018/03/23/realestate/home-inspection.html
4. Realtor.com -
   https://www.realtor.com/advice/buy/what-does-a-home-inspector-look-for/
5. Realty Times -
   https://realtytimes.com/advicefromagents/item/37369-top-5-biggest-home-inspection-mistakes
6. Realtor.com -
   https://www.realtor.com/advice/buy/home-inspection-mistakes-buyers-should-avoid/
7. Star Tribune -
   http://www.startribune.com/who-verifies-repairs-after-the-home-inspection/132844523/

No one likes to think about disasters. Severe weather, fire, theft—or even a seemingly small issue like a broken pipe—can wreak havoc on your home and result in thousands of dollars in damages. Fortunately, a good homeowners insurance policy can offer you peace of mind that you and your family will be financially protected if disaster strikes. 

A homeowners insurance policy covers your home—as well as the belongings in it—in case of theft, accidental damage, or certain natural disasters. In fact, most financial institutions require that you purchase homeowners insurance before they issue a mortgage. While coverage varies, most policies also help to protect you from liability should someone outside your household become injured on your property. And that liability coverage is often extended to include damage you (or anyone living in your household) may do to someone else’s property.

With all the protection offered, it’s equally important to understand what a home insurance policy does NOT cover. For example, homeowners insurance won’t pay to repair malfunctioning systems and appliances within your home. And terms vary, but standard policies typically exclude coverage related to floods, earthquakes, slow leaks, power failure, neglect, aging, faulty repairs or construction materials, and acts of war.

Homeowners Insurance Covers Things Like: Structure Roof Windows Furniture/Personal Belongings Liability for Non-Residents Injured on Property Liability for Damage or Injury Caused by You or Your Pets

Most Standard Policies DON’T Cover: Malfunctioning Systems & Appliances Floods Earthquakes Slow Leaks Power Failures Neglect or Aging Faulty Repairs Acts of War

NARROWING THE COVERAGE GAP

So how do you minimize your risk when so many potential issues are excluded from a standard homeowners policy? Many insurers offer supplemental coverage options that can be tacked on to a basic policy. We explore this further in the section below on “7 Tips for Purchasing Homeowners Insurance.”

Some homeowners also choose to purchase a home warranty, which covers many of the systems and appliances in your home that are NOT covered by homeowners insurance. Home warranties are separate from homeowners insurance, so if interested you’ll need to seek out a policy through a dedicated provider.

While terms vary, a home warranty will often pay to repair or replace components of your HVAC, electrical, plumbing, and some appliances that fail due to age or typical wear and tear. Unlike homeowners insurance, home warranties aren’t required by mortgage companies. But many homeowners like the added financial protection and peace of mind that home warranties provide.

Keep in mind, if you do purchase a home warranty, you will still be responsible for paying a service fee, or deductible, every time you use it. And you will be limited to using service providers who are contracted through your home warranty company.

7 TIPS FOR PURCHASING HOMEOWNERS INSURANCE

Whether you’re shopping for a new policy on your first home or you’re considering switching providers on an existing policy, it’s important to do your research beforehand. Not all insurance policies—or providers—are created equal. A little due diligence can save you time, money, and hassle in the long run.

1. Prioritize Service and Value

When choosing an insurance provider, ask around for recommendations. Check with neighbors, friends, and family members, particularly those who have filed an insurance claim in the past. Find out if they had a positive or negative experience. Read online reviews. Ask your real estate agent for a referral to a reputable insurance broker who can help you compare your options.

Don’t just choose the cheapest policy. Instead, search for one that offers excellent client service and provides the best coverage for the cost.

1. Choose the Right Level of Coverage

Your policy limits should be high enough to cover the cost of rebuilding your home. Don’t make the common mistake of insuring your home for the price you paid for it. The cost to rebuild could be higher or lower, depending on the value of your land, your home’s unique features, market factors, new building codes, and local construction costs.

Also, consider whether you need a higher level of liability insurance to protect your assets. If your investments and savings exceed the liability limits in your policy, you may need to purchase an excess liability or umbrella policy.

Ultimately, you should make sure your coverage is adequate to mitigate your losses—but don’t pay for excess insurance you don’t need. 

1. Inquire About Additional Coverage

Ask your insurance agent about additional coverage options that can help close any gaps you have in your policy.

For example, if you’re in a flood or earthquake-prone area, experts strongly recommend that you add those coverages to your policy. In fact, flooding is the most frequently occurring natural hazard, and a significant percentage of insurance payouts are for homes outside “flood zones,” or areas known to be at risk of flooding. So even if your home is not technically located in a flood zone, you may want to add flood coverage to your policy, just in case.

Expensive jewelry, furs, collectibles, or artwork may not be fully insured by a standard policy. Ask about raising your limits for any items of particular value, or check with a specialty insurer about a separate policy for such items.

2. Decide on “Replacement Cost” or “Actual Cash Value”

Insurers can use a variety of methods to determine how much they will pay to reimburse you for a loss, but the two most common are “replacement cost” or “actual cash value.”

If your seven-year-old sofa is damaged in a fire, replacement cost coverage will pay you the cost to purchase a new, comparable sofa at today’s prices. Actual cash value coverage will pay you for the depreciated value of the sofa you lost—so what you would pay to buy a seven-year-old sofa rather than a new one.

While a replacement cost coverage policy will result in a bigger payoff if you suffer a loss, it will probably require a larger annual premium. Compare both options to find out which is the better fit for you.

3. Consider a Higher Deductible

A deductible is the amount of money you are responsible for paying on a loss before your insurance company will pay a claim. Opting for a higher deductible can reduce your premiums. 

Note that in some cases, your insurance policy may have a separate or higher deductible for certain kinds of claims, such as those caused by floods, windstorms, hail, or earthquakes.

While a higher deductible can save you money on your premiums, opt for one that is still affordable given your current financial situation.

4. Try Bundling Your Coverage

Combining your home, automobile, and other policies under one insurer can often result in a significant discount. And some insurers offer additional benefits, such as a single deductible if property insured by multiple policies is damaged. For instance, if a fire destroys your home and your car, you may only have to pay the higher of the two deductibles. Bundling can also make payment and renewal of your policies more convenient.

However, bundling isn't always the best or least expensive option. In some cases, you may find better coverage options, service, and/or pricing if you split your policies between multiple insurers. So be sure to consider all of your options before making a final decision.

5. Reassess Your Policy Each Year

Even if you’ve done all your due diligence before purchasing a homeowners insurance policy, don’t set your annual renewal on autopilot. Instead, when it comes time to renew, take some time to consider factors that have changed over the past year. 

For example, have you made any home improvements that would require you to raise your coverage limits? Have you made any security or safety improvements that qualify you for a discount on your premiums?

Has there been a shift in market conditions that would make it more or less expensive to rebuild your home now? If so, you may need to adjust your coverage levels accordingly.

If you’ve made any changes to how you use your home, you may need to adjust your policy, as well. For example, if you’ve started a home-based business or occasionally rent out your home on a home-sharing site, you may not be fully covered by your existing policy.

Finally, consider any changes to your financial situation that may require increased liability coverage limits. If you’ve grown your investments or inherited property, it may be time to purchase additional coverage to protect your expanding asset base.

MINIMIZE RISK, MAXIMIZE VALUE

Now that you understand the basics of homeowners insurance, you should be ready to start shopping for a policy that best fits your needs and budget. Your goal should be to minimize your risk while maximizing the value your policy provides. 

While you never want to leave yourself without a safety net should disaster strike, you also don’t want to overpay for insurance you don’t need (and will hopefully rarely use). Aim to strike a balance that will provide you with adequate protection at an affordable price.

NEED MORE GUIDANCE? WE CAN HELP

If you’re in the market to purchase homeowners insurance or a home warranty, give us a call! We get a lot of feedback from clients on the best (and worst) providers and are happy to share what we know.

We can also put you in touch with a trusted insurance professional who can answer your questions and help you find the best policy to meet your needs.

The above references an opinion and is for informational purposes only. It is not intended to be financial or insurance advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1. Insurance Information Institute -
   https://www.iii.org/article/what-covered-standard-homeowners-policy
2. Insure.com -
   https://www.insure.com/home-insurance/exclusions.html
3. American Home Shield -
   https://www.ahs.com/home-matters/cost-savers/whats-the-difference-homeowners-insurance-vs-home-warranty
4. Insurance Information Institute -
   https://www.iii.org/article/how-much-homeowners-insurance-do-you-need
5. Realtor.com -
   https://www.realtor.com/advice/buy/buying-home-insurance
6. Texas Department of Insurance -
   http://www.helpinsure.com/home/documents/acvvsreplace.pdf
7. Insure.com -
   https://www.insure.com/home-insurance-faq/bundle-insurance-policies.html
8. National Association of Insurance Commissioners -
   https://www.insureuonline.org/consumer_homeowners_ten_tips.htm
9. HomeAway -
   https://help.homeaway.com/articles/Do-I-need-a-special-vacation-rental-insurance-policy-for-my-property

A common thought in real estate is never list your home in the winter offseason. Perpetuated by industry experts, agents and repeat sellers alike, this saying encourages many would-be sellers to wait until the spring peak to list their homes. However, studies show that homes listed in the winter offseason not only sell faster than those in the spring, but sellers also net more above their asking price at this time. Don’t wait until spring to sell. If you’ve been thinking of selling your home, here are five compelling reasons to list now.

1.    Take advantage of low inventory. Since most sellers are waiting until spring to list, local inventory falls during the offseason. However, there are still motivated buyers who are ready to move now and don’t want to wait that long to purchase a home. According to the National Association of Realtors, 55 percent of all buyers purchased their home at the time they did because “it was just the right time.” These eager buyers may flock to your home. You may not need to try as hard to make your home stand out in the sea of other similar homes. With less competition, more buyers, some of whom may have otherwise overlooked your home if you listed during the peak, will express an interest to buy. While you’ll likely have fewer showings in the offseason, buyers who do visit will be more serious about writing an offer. Your home will likely sell faster than it would have during the peak season.

2.    Set a higher listing price. Homes sold during the offseason sell at a higher price, on average, than those sold during the spring and summer peak. There are many reasons for this. First, motivated buyers are willing to pay closer to the asking price for a home. Second, homes are more likely to be priced right and reflect the economics of not only the local market, but the neighborhood as well. Often, homes listed during the peak may be priced to compete with other homes in the area and neighborhood. Sellers may be pressured to sell for less than the list price in order to encourage buyers to choose their home out of the others on the market. 

3.    You’ll receive more attention. While our team always strives to give you the personal attention you deserve, when you list during the offseason, we’re able to work more closely with you to ensure your home is prepared for its debut on the market. We can also take more time to answer your questions, address your concerns and prepare you and your home for the sale.

Additionally, if you’d like to hire a tradesperson to handle routine maintenance or undertake a minor home renovation before you list, you may be able to take advantage of flexible scheduling and cheaper rates. Many of these professionals experience a winter offseason as well, and will be able to focus their time and attention on you and your project. 

4.    Easier to maintain curb appeal. Curb appeal is intended to attract the buyers who are just driving by as well as those who saw your home online and wanted to see it in-person. It sets the stage for what interested buyers can expect when they step foot in the home during a showing or open house. If you list your home during the peak of the selling season, you may exhaust your time your energy maintaining curb appeal. You’ll likely spend most of your free time mowing the lawn, weeding, trimming shrubs and hedges, planting flowers in pots and in flowerbeds, pulling spent blooms and watering it all to ensure it looks lush and healthy on a daily basis. After all, a lush landscape will attract potential buyers and set your home apart from other similar homes in the area.

The offseason eliminates the pressure to maintain a picture-perfect front landscape. Since most grass, shrubs and plants go dormant at this time of year, you’ll have less to maintain. If you live in an area that experiences a traditional winter, your landscape will be covered with snow. Even if you live in a milder climate, you may not have to mow as often, if at all. It’s still important to ensure your exterior appears well-tended, so make sure your walkway and front porch remains free of snow, ice and debris.

5.    Tap into the life changes of buyers. Many buyers receive employee raises and bonuses at the end of the year. If they’ve been saving to buy a home, this extra money may allow them to reach their goal for a down payment and put them on the path to becoming a homeowner. Additionally, companies often hire new employees and relocate current ones during the first quarter of the year, creating a strong demand for housing. If you live in an area that’s home to a large company or has a strong corporate presence, this may be the perfect time to list.

 

Thinking of Listing in the Offseason? 3 Things to Do Before You List

Get your home ready to list by following these tips.

1.Schedule maintenance. Buyers, especially first-time buyers, want a home they can move into right away; they don’t want to repair the roof or the furnace or replace windows with blown thermal seals before they move in. Do the scheduled maintenance and make repairs before you list your home for sale. 

In some cases, it may help to have an inspector do a pre-inspection of your home. A pre-inspection will make you aware of any major, potentially deal-killing, issues that will have to be addressed before you list. It also gives you an idea of minor issues that a potential seller may want repaired. Overall, it helps you to accurately price your home and may protect you from claims a buyer might make later.

2.Create light. Balance out the lack of natural light outdoors by turning the lights on inside. Since people naturally tend to buy emotionally, turning on the lights helps create a sense of warmth and coziness. Light a fire in the fireplace, if you have one, fill your home with the scents of the season, such as vanilla or fresh baked cookies, and put a throw blanket on your sofa.

If you plan to paint the interior of your home before you list, consider an off-white shade to create consistency throughout your home and make the space feel larger and brighter. If you have photos of your garden or the home’s exterior in the spring or summer, display them so interested buyers can get a glimpse of what the home looks like in other seasons. 

3.Give your home a thorough cleaning. Cleaning puts your home in its best light. Clean and polish all the horizontal surfaces of your home, including countertops, window sills and baseboards; have the curtains dry cleaned or otherwise laundered; wash windows, glass doors and their tracks; vacuum carpeting and polish all wood surfaces, including the floor.

Additionally, this is a great time to pack any personal items and family photos as well as sort through your belongings and donate items you no longer use. This not only eliminates any clutter, but it also gives you less to pack and move when you sell.

If you’re thinking of selling, give us a call! We’d love to help you position your home to sell in our market.

 

Sources:

 1. Time, October 30, 2015

        2. National Association of REALTORS, 2016 Profile of Home Buyers and Sellers

        3. Forbes, August, 27, 2013