Should I buy or sell my home first, what are the benefits?

Thousands of homeowners every year are faced with the same question, for new and experienced sellers. The answer is straightforward if you learn these simple concepts. Short answer, let the market decide.

Benefits of Buying First

The main benefit is that you will enjoy the luxury of shopping for homes without the deadline of your home’s close date. You have time to wait for opportunities and manage unsuccessful offers without stress, this can happen in any market.

Buyers using this method typically protect themselves by using a conditional offer based on the sale of their current home. This means that if you are not able to sell within a specified period of time, you are able to back out of the transaction. This is not ideal for the seller and will make the offer less attractive, especially in a hot market.

Benefits of Selling First

Placing your home on the market is a common approach if you want to minimize the risk of carrying two (2) properties, which is the main con to buying first. Buyers may want to reduce the sale price or accept a lower offer to avoid paying two mortgages, plus the cost of home ownership.

Selling first helps you know what you can afford for your next place, based on the sale price of your property. In a hot market, every advantage helps. Having the risk of discounting your home when first buying is not ideal for any seller. The best tip is to be diligent and quick when shopping for a home and putting in offers to improve your chances of securing your next home.

Minimize Risk, Reduce Stress

Both strategies carry risk, but here are a few tips to help reduce stress and have a contingency plan.

  • If you sell first and can’t find the home you want to consider a short-term rental or staying with friends and family.
  • When buying first consider a conditional offer based on the sale of your current home.
  • If the purchase of your new home closes first, you might need something called “bridge financing” to cover the down payment and other closing costs until the sale of your current home closes.
  • Talk to a registered Align agent for advice and solutions to help you through the process.

Final Answer: It Depends

Always know the market condition and talk to an agent to get the best experiences and reduce stress when deciding the buy your next home or sell your current home first.

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I have listed a new property at 203 LESTER Street in Waterloo.
Luxury condominiums - rooms for lease, with high end fixtures and finishes, available immediately. Price is per room; rent one or more bedrooms, up to 5; in a shared living - purpouse build - 5 bed 2 bath condo. Groups are welcome to apply. A close walk to LRT and public transportation, in a PRIME convenient location, walking distance to WLU and UW, close to all amenities. Each suite comes fully furnished or empty, rent includes heat, water, and unlimited high speed internet, building has elevator and bike storage, on-site laundry and onsite parking, paid & secured through app. honk mobile. Tenants pay hydro. Book a viewing today, same day appointments, easy application approval! Linden Square,located on the ground floor of the building, amenities: Restaurant, Dentist, Hair salon. Check out the virtual tour! The unit is in EXCELLENT CONDITION, CARPET FREE, MODERN DESIGN! Easy application process (application, employment letter/pay stubs/guarantor letter and credit check and history), quick approval response. Families or roommates or students with guarantor welcome to apply. (id:2493)
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I have listed a new property at 203 LESTER Street in Waterloo.
Luxury condo for lease, with high end fixtures and finishes, available immediately. Includes 5 large bedrooms, two baths, close to the LRT and public transportation, in a PRIME convenient location, walking distance to WLU and UW, close to all amenities. Each suite comes fully furnished or empty, rent includes heat, water, and unlimited high speed internet, building has elevator and bike storage, on-site laundry and onsite parking, paid & secured through app. honk mobile. UPDATED, NEWER AND MODERN SUITES, CARPET FREE. Tenant pays hydro. Book a viewing today!Linden Square, located on the ground floor of the building, amenities: Restaurant, Dentist, Hair salon. Check out the virtual tour! *****Easy application process (application, employment letter/pay stubs/guarantor letter and credit check and history), quick approval response. Families or roommates or students with guarantor welcome to apply. (id:2493)
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I have listed a new property at 250 LESTER Street in Waterloo.
Luxury condominium for lease, high end fixtures and finishes, available immediately. 1. Includes 2 large bedrooms, 2 full baths, plus a very spacious den / suitable for a private office. Balcony that encompasses 180 degrees of the condo unit, extensive and accessible from the two main bedrooms & the living room; must be seen to be appreciated. NO CARPET, excellent condition. 2 . Close to the LRT and public transportation, in a PRIME convenient location, walking distance to WLU and UW, close to all amenities. Each suite comes fully furnished or empty (state your preference), rent includes heat, water, and unlimited high speed internet. Building has elevator and bike storage, on-site laundry and onsite parking available, as per honk mobile app, pending availability. Tenant pays hydro. Book a viewing today! To Apply: Rental Application, Employment verification letter (along with recent pay stubs) or guarantor info, up to date Full credit report and score. Students with Guarantor or shared tenancies are welcome to apply. (id:2493)
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I have listed a new property at 131 UNIVERSITY Avenue West in Waterloo.
* Luxury Condo for lease, with high end fixtures and finishes, available immediately. Includes 1 extra large bedroom, 1 bathroom (wheelchair accessible), and a separate enclosed dining room with decorative barn doors, large living room with open concept kitchen. CARPET FREE, EXCELLENT CONDITION. Close to the LRT and public transportation, within walking distance of everything you need. In a PRIME convenient location, walking distance to WLU and UW, close to all amenities. Each suite comes fully furnished or empty, rent includes heat, water and unlimited high speed internet. Building has an elevator and bike storage, on -site laundry and onsite parking, as per honk mobile app, pending availability, $. Hydro is extra. Book a viewing today! Check out the virtual tour! Distinctly designed to maximize the sunlight that pours through your floor to ceiling windows. To Apply: Rental Application, References, Employment verification letter (along with recent pay stubs) or guarantor info, up to date Full credit report and score. Students with Guarantor or shared tenancies are welcome to apply. (id:2493)
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I have listed a new property at 131 UNIVERSITY Street West in Waterloo.
Luxury condominium for lease, high end fixtures and finishes, available immediately. CEILING TO FLOOR WINDOWS, TONS OF NATURAL LIGHT, UPDATED, MODERN, CARPET FREE HOME. Includes 1 large bedroom with 3 piece on suite bathroom, a 2nd bathroom, large separate dining room/den or HOME OFFICE. Balcony that encompassed 90 degrees of the apartment, extensive and accessible from all rooms; must be seen to be appreciated. 2 . Close to the LRT and public transportation, in a PRIME convenient location, walking distance to WLU and UW, close to all amenities. Each suite comes fully furnished or empty, rent includes heat, water, and unlimited high speed internet, building has elevator and bike storage, on-site laundry and onsite parking available, as per honk mobile app, pending availability. Tenant pays hydro. Book a viewing today! Easy application process (application, employment letter/pay stubs/guarantor letter and credit check and history), quick approval response. Families or roommates or students with guarantor welcome to apply. (id:2493)
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Waterloo Region Home Sales Set Another Record in October

There were 691 residential homes sold through the Multiple Listing Service (MLS), the most ever recorded for the Kitchener-Waterloo Association of Realtors (KWAR) for the month of October. October’s home sales increased 28% compared to October last year, but decreased by 9.6% compared to September. The previous 10 year average sales in October is 471.

“This is the fourth month in a row we have set a monthly record number of home sales,” said Colleen Koehler, President of KWAR. “Demand for homes in October continued to strongly outpace supply in Kitchener-Waterloo and area.”

KWAR

This is the perfect time to make a move. If that is something you are considering, let’s meet, and go over your best options to obtain the highest selling price possible for you. Demand has far outpaced supply in the market, making it a seller’s market. This means that homes sold with multiple offers, in record time and way above the asking price.

Let’s put your custom plan together, let’s meet if you are looking to make a move in this seller’s market.

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The rental market moves fast, and as you know there is limited availability. You have given your notice to your landlord and need to know a few things you can do to prepare yourself when making the move.

1) Decide Your Deposit Amount

Landlords typically ask for first and last month’s rent as the deposit. In hot markets a larger deposit may help you stand out from the other applicants.

2) Know Your Maximum Budget

Always apply to rentals just under your budget. In negotiations this will be a great bargining tool when trying to out-bid the competition.

3) Be Prepared To Make an Offer

Leases are the market to sell now, don’t get caught waiting for paperwork.

Things to prepare:

  • Credit report from Equifax
  • Letter of employment from HR
  • Your two (2) most recent pay stubs
  • Business registration info or notice of assessment, if applicable
  • Deposit

4) Let Your References Know They Will Get a Call

The best references can come from your two (2) most recent places of residence and your job. Let them know beforehand that they will receive a call soon asking about you and who to expect a call from.

5) Inspect the Property Before you Rent

Pictures are worth a thousand words – so is a trip though a showing. Make sure that if you don’t love the property, avoiding applying.

Keeping these simple, yet powerful, tips in mind helps you become an informed and distinguished buyer.

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Waterloo Region Home Sales Set Another Record in September

There were 758 residential homes sold through the Multiple Listing Service (MLS), the most ever recorded for the Kitchener-Waterloo Association of Realtors (KWAR) for the month of September. September’s home sales increased 41.6% compared to September last year and an increase by 8% compared to August. The previous 10 year average sales in September is 460.

“This is far more home sales then what we would normally see in September as buyers continue to play catch up from the COVID-19 hindered spring market,” said Colleen Koehler, President of KWAR. “While the pandemic has had devastating impacts on many aspects of our lives it has only solidified the importance of home and homeownership.”

KWAR

This is the perfect time to make a move. If that is something you are considering, let’s meet, and go over your best options to obtain the highest selling price possible for you. Demand has far outpaced supply in the market, making it a seller’s market. This means that homes sold with multiple offers, in record time and way above the asking price.

Let’s put your custom plan together, let’s meet if you are looking to make a move in this seller’s market.

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Waterloo Region Home Sales Set Another Record in August

There were 686 residential homes sold through the Multiple Listing Service (MLS), the most ever recorded for the Kitchener-Waterloo Association of Realtors (KWAR) for the month of August. August’s home sales increased 48% compared to August last year and an increase by 8% compared to July. The previous 10 year average sales in August is 470.

“Waterloo Region has had an extremely hot market all summer,” said Colleen Koehler, President of KWAR. ”Following a spring market where most people were observing physical distancing guidelines, sales in August continued to be very active with demand continuing to outstrip supply forcing buyers to act quickly.”

KWAR

This is the perfect time to make a move. If that is something you are considering, let’s meet, and go over your best options to obtain the highest selling price possible for you. Demand has far outpaced supply in the market, making it a seller’s market. This means that homes sold with multiple offers, in record time and way above the asking price.

Let’s put your custom plan together, let’s meet if you are looking to make a move in this seller’s market.

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Waterloo Region Home Sales Set Another Record in July

There were 734 residential homes sold through the Multiple Listing Service (MLS), the most ever recorded for the Kitchener-Waterloo Association of Realtors (KWAR) for the month of July. July’s home sales increased 25.7% compared to July last year. The previous 10 year average sales in July is 531.

“Competition was high for buyers looking to lock down a house in July,” said Colleen Koehler, President of KWAR.  “The rate of home sales in July resembled the kind of month we would normally see in May, and I chalk up much of that to the pent up demand that built as we moved into Stage 3 of reopening in mid-July.” 

KWAR

This is the perfect time to make a move. If that is something you are considering, let’s meet, and go over your best options to obtain the highest selling price possible for you. Demand has far outpaced supply in the market, making it a seller’s market. This means that homes sold with multiple offers, in record time and way above the asking price.

Let’s put your custom plan together, let’s meet if you are looking to make a move in this seller’s market.

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Waterloo Region Home Sales Set Another Record in June

RESIDENTIAL AVERAGE TOPS $600K FOR FIRST TIME 

There were 673 residential homes sold through the Multiple Listing Service (MLS), the most ever recorded for the Kitchener-Waterloo Association of Realtors (KWAR) for the month of June and increase 57.6% compared to May. June’s home sales increased 2.1% compared to June last year.

“After a pandemic–induced delay to the typical spring market, home sales sprung back to life in a big way in June,” said Colleen Koehler, President of KWAR. “As Waterloo region entered stage two of reopening, we saw many buyers and sellers resuming their home buying and selling plans.”  

KWAR

This is the perfect time to make a move. If that is something you are considering, let’s meet, and go over your best options to obtain the highest selling price possible for you. Demand has far outpaced supply in the market, making it a seller’s market. This means that homes sold with multiple offers, in record time and way above the asking price.

Let’s put your custom plan together, let’s meet if you are looking to make a move in this seller’s market.

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Waterloo Region Home Sales Climb in May Compared to Record-Low April

There were 419 residential homes sold through the Multiple Listing Service (MLS), a decrease of 40.5% Kitchener-Waterloo Association of Realtors (KWAR) compared to May of last year and an increase by 80% compared to April, due to COVID 19. The previous 10 year average sales in September is 460.

“Real estate was included as an essential service in Ontario from the outset of the COVID-19 shutdown, and Realtors have stepped up to ensure those who need to list or buy can do so safely,” said Colleen Koehler, President of KWAR. 

KWAR

This is the perfect time to make a move. If that is something you are considering, let’s meet, and go over your best options to obtain the highest selling price possible for you. Demand has far outpaced supply in the market, making it a seller’s market. This means that homes sold with multiple offers, in record time and way above the asking price.

Let’s put your custom plan together, let’s meet if you are looking to make a move in this seller’s market.

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Covid-19 and Real Estate Changes in Kitchener Area 


April 2020


By: Diana Martin, Realtor ®


HOW HAS REAL ESTATE CHANGED IN THE PAST WEEK ?

Recently, real estate was deemed essential by the Ontario government.  The housing sector is very important, and home is a SAFE HAVEN for most people. There are many people in transition at any given time, and it is important that none of them become homeless, and that everybody has a good home. I believe that having an adequate, SAFE home is a right, not a privilege. 

Let's face it. Some clients can wait to put their house on the market until this passes, and that's great. If this is you, hit reply to this email or contact me at diana@sellwithdianamartin.com or call 519-569-9103, lets meet virtually so we can get to know each other make a plan on how to proceed so you can maximize your returns. 

Some clients cannot wait, due to multiple circumstances. If this is you, hit reply to this email or contact me at diana@sellwithdianamartin.com or call 519-569-9103. Let's meet virtually, and make a plan to get you the highest return possible on your hard earned equity, and get you on the market asap.


Here are some of the measures in place where we, at Align Real Estate, put your safety first. Its actually a perfect time to put your house on the market if you do not want people to view it in person, because it is acceptable and our rules of conduct have changed to allow this. Changes below include how we conduct in person meetings, viewings, and open houses.

****

OUR MEASURES FOR SELLERS: WE ARE ABLE TO SELL YOUR HOME, WITHOUT BUYER VISITS. HOW?

* Online phone or video meetings with me. BOOK YOUR FREE MEETING HERE

* All documents are sent and authenticated via email.

* Online marketing tools:
- video tours 
- amazing photography 
- virtual house plans
- virtual open houses
- virtual walk throughs 360 degree plans

* Extended closing dates (sell now, move in the summer) or quick closing dates 

*  Pre-listing inspections so the buyers are confident in putting in offer site unseen (optional)

* In person viewings are arranged only once an offer has been accepted by you, and at your discretion.

****

OUR MEASURES FOR BUYERS: - YOU DO NOT HAVE TO VISIT A HOME IN PERSON IN ORDER TO PUT AN OFFER TO PURCHASE IT. HOW?

* Online phone or video meeting with me. BOOK YOUR FREE MEETING HERE

* Online applications with one of our mortgage specialists. Hit reply for a list of trusted financing providers. 

* All documents are sent and authenticated via email. Initial docs, offer docs, acceptance docs, etc. 

* To view new listings, request info, ask questions, book viewings, you have 4 options:


1. Check out the link with the available options.


2. Download my APP, check out the    INFO ON MY APP RIGHT HERE


3. Go to my idx website CHECK OUT HOME SEARCHEARCH RIGHT HERE 


4. Most detailed, focused option that saves you tons of time? Ask me to fire up my search engine and set you up with a search for your specific neighborhood, in your price range, with 20+ different criteria, and updates on your timeline (weekly, daily or monthly updates) etc. 

* Viewings: via live feed on zoom, where I visit the home, and you follow along from the safety or your own home, and interact and ask me questions

* Virtual open houses - Ask for a link for options


* Clauses that will protect you when putting in an offer (once the offer is accepted (price and conditions) then an in person viewing is arranged

* In person viewings are arranged only once an offer has been accepted by the seller.


Thanks! Contact for more details or to book a time to meet!


Diana


519-569-9103

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Categories:   Waterloo Real Estate