You’ve Found “The Home.” Now What?

The long, tiring search is over and you’ve kissed a lot of frogs. You've finally found your dream home and want to make an offer on the property. How do you know how much to offer and if you’re getting the most value for your money in this Brandon MB market?

The offer phase of purchasing a home isn’t always straightforward and you need to at least know the market on homes in that area so you can determine if you’ll be getting the fair market value for that home. Ask your real estate agent to go through neighborhood  comparable actives and solds with you.  This report should be helpful with the offer process.

Lowballing is a common term in the world of real estate. It means that you’re offering to buy the house for a number that’s far below the market value. You run the risk of insulting the seller and losing the home for good.

But, if you don’t know the fair market value of the home you could overpay by thousands of dollars. To zero in on the market value of the home you’ve chosen, you should know if you’re in a seller’s or buyer’s market.

A buyer’s market means that there are plenty of homes for sale, but a shortage of buyers. This gives you more power to bid lower than the asking price and to even ask the seller to pay for some or all of the closing costs. In a buyer’s market, you’ll find the seller more willing to negotiate.

If you’re in a seller’s market, there is a shortage of homes for sale and you’re likely to have several potential buyers making offers at the same time. A seller’s market is a little tougher to negotiate in because you may need to compete with other buyers.

It’s sometimes devastating to a potential home buyer when their good-faith offer is rejected – especially without a counter offer. This could happen when the seller receives many offers and your offer was much less than the others. Or, the seller may back off of your offer to see if he can eventually get a better one.

All may not be lost, even if your offer has been rejected by the seller. The seller may not have accepted any offer on the home and you may still have time to negotiate by moving rapidly with a higher offer. This may result in a bidding war that your real estate agent will need to help you with.

A buyer’s agent is extremely helpful if you’re a first-time home buyer. He or she will be familiar with the local market and be able to negotiate the best deal on your behalf. You’ll learn a lot during this process, which may be helpful to you when you decide to sell.

If you’re working in a seller’s market and there’s a real shortage of homes in the area, you may still be able to get your dream home. Find a home you really love in an area you’re interested in and write a letter to the homeowner.

It’s a true leap of faith to try this method, but it’s worked for thousands of buyers and it just might work for you. Even if you receive a “not interested” reply, at least you’ll know you tried.

Never rush to make an offer in any market until you’re sure the home is right for you. Unless you do the proper research on the home, you may be rushing in to a situation that you’ll later regret.

Whether you live in Brandon MB, Virden MB or you're searching for acreages in these surrounding areas, the search can be strenuous and time consuming.  You can call on me to be your trusted go to REALTOR®, with insight on all new listings and recent home sales, within our local real estate market.

4 Reasons to Invest in a Lakefront Property

Waking up to the soft sound of waves and breathtaking sunrise is the best kind of morning. People go on a vacation to experience such a view. However, spending money on such a vacation can be super expensive. Instead, investing in lakefront properties can be advantageous. Also, you won’t have to plan savings or put pressure on your bank balance, like you do while planning for a vacation; you will just have to pack your bag and drive to your lakefront property. Below are some solid reasons that tell you why you need to invest in a lakefront property.

1) Great Investment

Investing in a lakefront property means creating a medium to generate more money. Let us suppose that you are going out of town and won't be using your lakefront house. Hence you decide to give it on rent. Since it is lakefront property, it will have a great rental value compared to a landlocked house, and you will be able to demand a good sum of money.

2) Perfect Vacation Spot

No more will you have to sit in front of your laptop and search for a lake view hotel for a vacation getaway. When you purchase a lakefront property, every day is a vacation for you. In fact, you can turn your place into a "workcation" and never get bored working as you will have a fine lake view. After working, you can walk on sand with cool waves touching your feet, which will be so therapeutic that you will be stress free without consuming medicines.

3) Immense Value

Studies suggest that the median value of a lakefront property is 116% higher compared to other homes nationwide. Additionally, the value of lakefront properties increases with time. Furthermore, it is not just another house, but for some people, it is a space for healing, while for others, it is a getaway from city life. Therefore, there is a financial, emotional and spiritual value attached to it.

4) Ultimate Place for a Family Get Together

COVID-19 has taught us the importance of family and the change of scenery. We were so desperate to get out of our houses, but the fear and restrictions stopped us. However, having a lakeside house can be the ultimate place for families to get together. It will give you a physical and mental change and a chance to spend time with loved ones away from the city's hustle and bustle.

Investing in a lakefront property is like investing in tranquillity. Along with financial benefits, it allows you to create infinite memories with your loved ones. To get your dream lakefront house, You can connect with Chris Low. We have a range of options for you to select from, plus our experts ensure that you get the best ones.

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