I have watched this show several times now and it is pretty good. I wished I had something like this when my husband and I were looking to purchase our first home. There is so much good information available now for consumers. What I really like about this show is that there is not always a happy ending. The buyers do not always get their dream house. The buyers "dream house" is not always a "dream" it is realistically what they can afford. The buyers on this show are real life examples of first time buyers, sometimes naive, emotional, sometimes completely unrealistic about what type of home is within their reach. The house provides a real education to these buyers. I'm pretty sure it is shot in the Toronto, Ontario area.The real estate expert Sandra Rinomato, is the host of Property Virgins.
The list that Sandra Rinomato has put together is a good advice, she does however; make a comment about Staged properties which is not untrue. But the comment does sound a bit like a warning to buyers.
- The rule of thumb is that you should be able to afford a mortgage three times your income.
Lenders subtract any debt payment from your income, so if you have a big debt, you have a lot less income — and a lot less house.
When you are looking at a house, you have to have a wish list, but you have to understand that no house is going to be perfect.
Don't judge a book by its cover. Same goes for a house. Go inside and look around before making a decision.
When you buy a property, you should always have a home inspector come through. You never know what they're going to uncover, so don't crack the champagne just yet. If the home inspector should find something, then you can use it to your advantage to renegotiate the deal. Or you might have to walk away.
You have to see past the junk and see the potential. When you buy a house, it's not just a place to live in, it's an investment. Keep in mind your dollars down the road.
Home staging is big business. It can add thousands of dollars to the selling price. An unstaged house that has not been properly prepared for sale will sell for much less than the asking price. * Any feelings about this is presented?
Feelings often take over the first time you go through a house, but the second visit allows time to do a thorough inspection led by your head, not your heart.
The three most important matters when it comes to negotiation are information, preparation and realism.
Reality often outweighs fantasy when it comes to buying a home.
When a renovated house is priced low, it is a good indication that the owners are looking for a bidding war — they want to get as much money as possible out of the sale.
When you're house shopping, you can't pull a number out of a hat. Find out what other homes in the area have sold for, how long ago the sale was and what amenities they have.
What you want to pay for a house has nothing to do with the fair market value. What you can or cannot afford has nothing to do with the value of a house.
The key to success when buying a home is to trust the experts.
Before you begin to house shop, you need to have an idea of what kind of neighborhood you want to live in and the style of house you want.
When it comes to investing, the best place to invest is in an up-and-coming area.
It is especially important to have a home inspection if you are looking to buy an aging or older house. They look past the visible surface to the infrastructure, inspecting plumbing and looking for faulty fixtures and waste lines. They check electrical systems to make sure they aren't overloaded or a safety hazard. They also look at possible structural problems like the foundation, walls and floor joists.
The old adage holds true. If it ain't broke, don't fix it.
It's great to have your financing in place before you look because houses are bought and sold overnight. You could lose your dream property waiting to secure the financing.
When a house is empty, buyers can see the actual size of each room and can better visualize their things in them.
Properties in good shape are rare, and they don't stay on the market for long.
You can make changes to the inside of a condominium, with the proper condo board approval, but never to the exterior.
You can't negotiate maintenance fees with a condo, and those fees tend to go up periodically.
When you buy new, you have to put down 10 percent within six months or 15 percent within nine months. Also, until the place is registered, you can't get title. Until you get title, you can't place your mortgage, so during that time you're paying what's known as a phantom mortgage or an interim occupancy fee that goes toward nothing — it's like rent. * Since this is a Canadian based show and I am not a realtor; I have no idea if this information is accurate in the United States, or may be state-specific.
It's better to walk away if you're not comfortable with the situation.
When making an offer, you want to go as low as possible without insulting the sellers.
It's the market that determines the value of a house.Glastonbury Home Staging is a full service staging company. We stage vacant and model homes as well as owner occupied. We provide redesign services for both residential and business spaces. Call us today to help you sell your listing faster and for more money.
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