5 Things to Consider Before Purchasing a Home

Buying a home doesn’t have to be a complicated process.  The secret to an easy experience is doing your homework prior to making a purchase.
Here are 5 tips to ensure a smooth home-buying process: 

1. Have a pre-determined budget and stick to it
When searching for a home, it’s best to immediately exclude all properties outside of your price range. First, meet with your financial institution and discuss your financing options to determine what you can and cannot afford.  Next, create an honest budget and you’ll be able to determine how much you can comfortably afford to put towards your mortgage, after a down payment.

2. Don’t let emotions get the best of you
Make sure to get a home inspection to ensure the home is in good condition. If the property requires a number of expensive repairs you must, again, be honest with your budget.

3. Don’t judge a home by its photo
If you’re browsing online and see a home in your price range but it doesn’t look quite like your ‘dream’ home – or if there are no pictures posted at all – it may still be worth a look. If the home is in good condition and it ends up being somewhere you can see yourself living, then you may have found a hidden treasure.

4. Is this the right neighbourhood?
The neighbourhood you live in greatly effects how you feel about your home.  Determine what you’re looking for in a neighbourhood. If the home you’re considering isn’t located in a neighbourhood you’d be happy living in, you may want to continue your search.

5. Ask for help
A licensed sales representative can help you throughout the home-buying process – from house hunting to negotiations and handling the paperwork. However, it’s also important to gather feedback and support on a personal level. Consulting with family and friends can help keep you levelheaded and optimistic if you’re having difficulty finding your dream home.

Contact me today for a Free Home Value Report by going to www.kimlouie.net!

Tips for moving to a new city!

So whether you are moving to take up a new job or to be with someone special, here are six great tips to help you make an orderly move to a new city.

1. Find things out before moving to a new city

Since the first month after moving to a new city is bound to be the most difficult, plan ahead to smooth things out as much as possible. Your first priority should be to find a good place to live and identify the best way of getting around. Use the Internet to find out the best neighborhoods in the area, the crime rate, shops, cost of rentals, and so on. Ideally, you should not buy property in a new city until you are sure that the move is right for you and your family.

2. Wind up life in your old city

Now that you more or less have an idea about life in your new city, it’s time to start packing and preparing for the actual move. Arrange for the utilities to be shut off by your move-out date. Submit change of address forms at the post office. Inform your banks/credit card companies about the change of address. Get hold of all medical and dental records for you and your family. As difficult as it might be, say your goodbyes to all the people you are going to leave behind.

3. Pack your stuff

Hiring a moving company to transport your belongings over a long distance can turn out to be very expensive. So make sure that you only take stuff that you will actually need in your new home. For instance, if you are moving to an area where the average temperature is in the 70s, you can safely leave your winter coats behind or give them away to your friends and family. And yes, don’t forget to pack a couple of separate boxes with all “essentials” to help you get through your first few days in your new home.

4. Keep track of all the paperwork

If you’ve never used a planner in your life, now is the time to get into the habit. When you are planning a move to a new city, there are a number of things you need to keep track of such as contact information for real estate agents who will help you find your new house, quotes and bills from moving companies, and travel receipts. A moving folder or planner with separate pockets for receipts and business cards will help you keep all your moving-related information in one place and make your job much easier come tax time.

5. Give yourself the luxury of time

It’s natural to be apprehensive about moving to a new city. Some days, you may get up in the morning and wish that you were back home, back in a place where you knew all the answers. But remember that you are not being realistic if you expect everything to fall into place immediately. Give yourself enough time to adjust to the new city and find your bearings. Go slow and do not try to tackle everything right away. Reach out to your neighbors and make new friends. Get a new hobby. Learn a new skill. Who knows, it may not be long before you start calling yourself a proud local!

6. Keep your finances in order

Moving is always costly. While it can be tempting to go exploring and shopping soon after you move, you want to keep a careful rein on your expenditures the first few months in a new city. Take into account that living expenses in your new city might be different from what you are used to.

Contact me today for a Free Home Value Report by going to www.kimlouie.net!

RECORD NUMBER OF HOME SALES RECORDED IN FIRST HALF OF YEAR for 2016

 KITCHENER-WATERLOO, ON (July 5, 2016) –– Residential property sales through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) had yet another record month with 740 properties sold in Kitchener-Waterloo and area in the month of June. This represents a 13.1% increase compared to the June of 2015, and ranks as the most active June on record.



During the first half of 2016, there were 3,519 home sales, 18.0% above last year’s total for the same period and 22.8% above the 5-year year-to-date average.

"This is the highest number of home sales we have ever recorded in the first half of the year" said Charlotte Zawada, President of the KWAR.

On a monthly basis, home sales were 29.7% above the 5-year average for the month of June. As sales continue their upward trend, active residential listings continue to remain depressed in comparison to the same time last year. Currently, the number of active residential listings on the KWAR’s MLS® System to the end of June sat at 1,199, which is 33.9% lower compared to same period last year. This translates to 51.4% fewer available listings on the market today than the same time last year.

June’s sales included 485 single detached homes (up 13.6%) and 145 condominium type units (up 2.1%) which include any property regardless of style (ie. semis, townhomes, apartment, detached etc). Sales also included 46 Semi-detached homes (up 9.5%) and 54 freehold townhouses (up 42.1%). The average sale price of all residential sales in June increased 11.2% to $390,144 compared to June 2015.

"With fewer listings on the market combined with an increased interest in people wanting to live in the Region, we’re seeing upward pressure on home prices," says Zawada. Single detached style homes sold for an average price of $451,289 an increase of 10.7% compared to last year. The average sale price for an apartment style condominium was $232,999, an increase of 8.0%. Townhomes and semis sold for an average of $277,672 (up 14.5%) and $296,572 (up 10.6%) respectively.

Residential Sale Price and Total Units Sold Year-To-Date over the last 10 years: Units Sold				K-W Only Sales				All Area Sales
K-W Only Sales		All Area Sales		Average Price		Median Price		Average Price		Median Price
2007	3,113		3,428		$242,690		$225,000		$248,911		$228,000
2008	2,796		3,127		$261,326		$240,000		$267,490		$244,000
2009	2,468		2,755		$259,244		$243,000		$263,552		$245,000
2010	2,772		3,121		$286,518		$260,000		$292,678		$264,500
2011	2,559		2,886		$298,304		$270,000		$304,393		$275,000
2012	2,571		2,882		$306,300		$282,500		$313,991		$287,500
2013	2,522		2,832		$320,937		$293,750		$328,215		$296,625
2014	2,427		2,741		$330,695		$302,000		$338,699		$307,000
2015	2,649		2,982		$340,546		$315,000		$347,974		$319,000
2016	3,162		3,519		$367,218		$340,510		$373,618		$345,500