Ottawa Real Estate- Team Pierre Legault

For Buyers


Finding the right agent
You want to find the right home, in the right location, at the right price - and you want to do it quickly, with minimum hassle. The best way to do that is to work with a professional realtor who understands your wants and needs, your time frame and your financial boundaries.

Why work with an agent?
  • You’ll save time. An agent can pinpoint homes that fit your needs and dismiss those that don’t.
  • You benefit from an experienced negotiator. Your agent will manage your offers and counter-offers, ensuring that you get the best possible price for your home.
  • You’ll get the right information. Your agent knows the neighbourhood and can give you accurate information on local real estate values, taxes, utility costs, services and amenities.
  • You can always count on great advice. Because your agent is familiar with the entire home purchasing process, he or she can advise you of your legal and financial options, and recommend appraisal, home inspection and contracting services.

Choose an agent who understands your needs
Here are a few questions to ask to help you determine if an agent is right for you:
  • Will you be representing my interests?
  • Do you have access to MLS information?
  • Will you provide market evidence to support the price?
  • Will you look after closing and possession details?
  • Can you be contacted at any time?


 
Choosing a neighbourhood
You’re not just buying a home - you’re buying a location. And even the most perfect house won’t feel right if you’re in the wrong neighbourhood. Educate yourself about the area so you’ll choose wisely - and end up being happy with your decision.
  • Are you close to shopping and recreation? Being close to stores, parks, recreational facilities, a post office and dry cleaners will save you time.

  • Do people in the area take care of their homes? Explore the neighbourhood, keeping an eye out for signs of neglect (overgrown lawns, houses in need of paint, trash and junked appliances littering yards). A run-down neighbourhood can drive down your property value.

  • Are there schools nearby? If you have children, the proximity and quality of schools is key. Some schools will provide data (i.e. average test scores) that can determine quality. Talking to neighbours with children can be helpful, too.

  • Is there good access to transportation? Living near public transport and/or major highways can mean an easier commute to work.

  • Is it safe? Check with the local police department - they may be able to provide statistics about break-ins or other crimes.

  • Will the home increase in value over time? Homes in some neighbourhoods appreciate faster than others. Research the selling prices of homes in over the past decade or so to predict future trends. Your agent may be able to provide helpful data.

  • Is it quiet? Listen for traffic noise, barking dogs, airplanes and any other noises that might bother you. Return to the neighbourhood at different times of the day to get an accurate impression.


 
Understanding market conditions
The real estate market is always changing, and it helps to understand how market conditions can affect your position as a buyer. Your agent can provide you with info on current conditions and explain their impact on you.

Buyers’ market
The supply of homes on the market exceeds demand.

Characteristics
  • High inventory of homes
  • Few buyers compared to availability
  • Homes on the market longer
  • Prices tend to drop

Implications
  • More time to look for a home
  • More negotiating leverage

Sellers’ market
The number of buyers wanting homes exceeds the supply of homes on the market.

Characteristics
  • Smaller inventory of homes
  • Many buyers
  • Homes sell quickly
  • Prices usually increase

Implications
  • May have to pay more
  • Must make decisions quickly
  • Conditional offers may be rejected

Balanced market
The number of homes on the market is equal to the number of buyers.

Characteristics
  • Sellers accept reasonable offers
  • Homes sell within an acceptable time period
  • Prices generally stable

Implications
  • More relaxed atmosphere
  • Reasonable number of homes to choose from


 
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