Ultimate Checklist for Selling Your Home

General Kimberly Coutts 27 Jan

Who knew that the first few weeks of January would have the real estate industry in Vancouver hopping.  The common discussion among those in the industry is the lack of inventory for the number of buyers looking to purchase a detached home.  So, if you’ve ever contemplated downsizing and moving into a condo or townhouse, now might be the perfect time to make the move and sell.  We need more houses on the market for those families looking for more space and a backyard as the pandemic continues.

If you’re wondering where to start, check out the below checklist for selling your home.

Ultimate Checklist for Selling Your Home.

Selling your home can be an extremely stressful experience. Between thinking about moving logistics and financials, it’s easy to miss the small details in between the process.

With that in mind, we’ve built this checklist for selling your home to help you keep track of the things that will get a potential buyer interested. Turns out, it’s not as simple as just fluffing pillows or doing a light dusting. “Put your buyer’s hat on and walk through your home like it is the first time,” Marilou Young, an Accredited Staging Professional and an Associate Broker with Virtual Properties Realty in the metropolitan Atlanta area, told Forbes.

Below is the ultimate checklist for selling your home.

GET FAMILIAR WITH THE PAPERWORK

For home buyers interested in the history of the house, make sure you’ve got all the information handy; this can include paperwork on renovations, property tax receipts, deeds and transferable warranties.

GETTING THE PRICE RIGHT

According to HGTV, it can be helpful to do some market research on what homes in your area are selling for- then shave 15 to 20 percent off that. This way, you attract multiple buyers who can end up outbidding each other and bringing up the price. While that can seem like a risky move, it could work in the competitive markets of big Canadian cities.

DEPERSONALIZE AND DECLUTTER

You want potential buyers to see themselves in the space, which is hard to do if you have family photos on the wall or personal items around. This would be a good time to start putting items in storage or try to keep your personal items out of sight. At the same time, you’re also ensuring that you’re keeping your house tidy—a must if you want to make your home sellable. Check around the house for dirt, stains or small cracks you might be able to fix. And if you have pets, make sure their litter boxes and play areas are also clean and odour-free.

FIND A QUALIFIED REALTOR

Realtors can be helpful to take some of the processes off your plate, including marketing your home and arranging open houses. If you do go this route, none of this list will matter if you decide to work with a realtor that doesn’t know the market inside out. You can search their name on the Real Estate Institute of Canada to ensure that they’re qualified, and meet with them to see if you mesh and understand how they price your unit. At Proptalk, we also have this handy guide for more details. (Feel free to reach out to me directly as well as I work with an awesome team of realtors and happy to match you up with the right personality that fits your needs.)

Published by FCT.

 

Intentions over Goals

General Kimberly Coutts 20 Jan

I hope this finds you well and you’re having a great start to 2021 despite the continued restrictions and lockdowns.  I count my blessings every day that we live on the West Coast because although we’ve been pummeled with torrential rain the last few weeks…I do see the tulips & daffodils starting to bud.  Signs of spring have already started which I’m grateful for and today is sunny so that’s a bonus!  

January is usually a month of new resolutions and goals however strangely enough this year rather than being super specific and having 3-4 goals in each facet of my life I’ve decided to simplify things and have 5 intentions instead.  I still have big lofty goals however fewer so I can put more focus and energy into them.

  • Spend more quality time with the family without a phone in my face.
  • Get outside for a walk for at least 30 minutes a day.  Once a week with a friend or the family.
  • Prepare 1-2 vegetarian meals per week. (If you have any recipes you’d love to share please do.)
  • Help 10 individuals/family with their home financing needs per month. (This one I’ll need your help to make those recommendations to friends/family & colleagues.)
  • Read one book every 2 weeks. (I’ve already completed one book this month already!)

This month’s draw to a local business will be for a $40 Gift Card to Book Warehouse.  In order to qualify for the draw, I’d love to hear the book(s) that are on your own must read list.  

Below are my top 10 favorite books that I’ve read in no particular order.

  1. A Fine Balance by Rohinton Mistery
  2. The Book of Negroes by Lawrence Hill
  3. The Kite Runner by Khaled Hosseini
  4. Angels and Demons & The Da Vinci Code by Dan Brown
  5. Becoming by Michelle Obama
  6. Lean In: Women, Work, and the Will to Lead by Sheryl Sandberg
  7. Onward: How Starbucks Fought for Its Life without Losing Its Soul by Howard Schultz
  8. Limitless: Core Techniques to Improve Performance, Productivity, and Focus by Jim Kwik
  9. The Big Leap: Conquer Your Hidden Fear and Take Life to the Next Level by Gay Hendricks
  10. Think and Grow Rich by Napoleon Hill

Below are my top 10 books I’d like to read in 2021.  If you see a book that is on your list I’d love to know so that perhaps we can exchange ideas after reading it.  Virtual book club?!  

  1. A Promised Land by Barack Obama (Thanks to hubby for my Christmas Gift)
  2. The Whole-Brain Child: 12 Revolutionary Strategies to Nurture Your Child’s Developing Mind, Survive Everyday Parenting Struggles, and Help Your Family Thrive by Daniel J. Siegel
  3. Sapiens: A Brief History of Humankind by Yuval Noah Harari
  4. Any Known Blood by Lawrence Hill
  5. Cutting for Stone by Abraham Verghese
  6. American Dirt by Jeanine Cummins
  7. How to Raise a Wild Child by Scott D. Sampson (A Vancouver Paleontologist who grew up exploring the UBC Endowment Lands and is best known for being the Presenter on Dinosaur Train for those of you with children.)
  8. Peak:  Secrets from the New Science of Expertise by Anders Ericsson and Robert Pool
  9. The Truths We Hold: An American Journey by Kamala Harris
  10. Man’s Search for Meaning by Victor E. Frankl

Looking forward to hearing about your favorite book and if you’re on Goodreads let me know so I can check out your library. There’s nothing like a steaming cup of hot tea, a cozy blanket and a good book while we wait for the longer days to arrive.

Have a great week,

Kimberly

Happy Clients of the Month:  Kim was excellent to work with. It was our first home and she was incredibly patient and informative. She helped us find a great mortgage rate with a lender that suited our preferences. Something I love about Kim is that she is always accessible and picks up on the first ring. She helps you when you need it. We needed a very quick turnaround and she jumped in head first and turned things around extremely quickly. We appreciated her guidance and hard work and would recommend her to anyone!  ~Jordan & Anna

Giving Tuesday Ideas

General Kimberly Coutts 15 Dec

2020 has been a strange year for many of us. It has affected all of us in unique ways. The impact of COVID-19 has been devastating for some industries while others are having a banner year. I feel fortunate and blessed that my family, friends and colleagues are healthy, safe and for the most part doing ok. It’s my hope that you are doing ok or better than ok – physically, financially, spiritually and mentally. This month, I’ll take a break from my Monthly Giveaway and instead be making a donation towards The  Marc Lalonde Memorial Foundation  which was set up this week on behalf of a fellow colleague in the mortgage industry who lost his life. Although I didn’t know him personally, he was a mentor and a leader in our industry who impacted many, many lives.

It’s with this in mind, on Giving Tuesday I wanted to highlight the ways we can give back to support our community and celebrate generosity. It is a sentiment that is even more important this year. Of course there are so many charitable organizations who could use our monetary donations, so by all means pick one that is close to your heart however these are a few ideas which don’t necessarily involve straight monetary donations.

1. Support Local – If you’re going to purchase gifts or gift cards, support an independent restaurant Cold Tea, La Bodega or The Parlour  are a few favorites, a start-up bakery (Best Kind Bakeshop), a local artist (Nima Stoneware, Englebert Romero or Draw Me Mollie), a local attraction (Capilano Suspension Bridge or a local shop (Presidio). Think Local!

2. Holiday Meal Help – If you’re looking to take a break from cooking over the holidays, but still want something festive, check out local caterers The Pacific Yacht or Emelle’s Catering who are providing turkey dinners without all the work. Want to add some fun libations – check out The Bar Cart who can deliver creative cocktails to your door.

3. Stocking Stuffers for Seniors – The holidays can be an extremely lonely time for seniors who live alone, why not brighten someone’s day by visiting a London Drugs location near you and picking up a gift tag for a senior who could use some cheer. Details can be found here.

4. Lower Mainland Christmas Bureau – Given that many of their drives have been cancelled this year and the number of people who are unemployed, I imagine there will be a large number of families who will be reaching out to them. They typically have a high need for gifts for tweens and teenagers. As an individual who was a recipient of a Christmas Hamper as a young child when my own dad was laid off I remember the day we received the hamper filled with food and presents. I remember sitting on our stairs unpacking the box of goodies and presents and how happy it made my sisters and I.

5. Donate Blood – This one doesn’t cost you a dime and the need for blood is constant so book an appointment before the holidays!

6. Bring a smile to a neighbour – Deliver home-made cookies and a Christmas Card to a senior or Individual that you know lives alone in your building/neighbourhood. Bonus points for those of you that have children and can have the kids draw a picture. You can bring so much joy and a smile to someone with this small gesture, especially if they have been in isolation for months and months.

7. YMCA Holiday Giving Programs – Sponsor a family through Presents of Peace or make a donation to Simplify the Season.

8. Christmas Backpack Program with Covenant House – Participate in their Christmas Backpack program so that homeless youth can receive a backpack full of gifts for the holidays. To make it easy, Covenant House has a Wishlist on Amazon where you can purchase the much needed items which will then be shipped directly to the organization for distribution.

9. Reduce, Recycle & Reuse – If you’re refreshing your home and need to dispose of your furniture, donate it to Homestart who help people re-establish a home.

10. Connect with a friend/colleague/family member. As we move through the 2nd phase of COVID and we are in various stages of lockdown across the country, a phone call, a text message or a Facetime to say Hi could be the thing that someone needs most at that moment. I always have a hesitation about picking up the phone as I don’t want to disrupt someone’s day however when a friend calls me out of the blue it makes me feel awesome to connect. As most of us continue to work from home sometimes you need a friendly voice to break up the monotony of Groundhog Day that we have been living in for the last 9 months.

On that note, although it’s early and only December 1st let me be the first to wish you the Happiest of Holidays during this very interesting year. From my family to yours we wish you a healthy, happy and safe Holiday Season and that 2021 will be a better year than the last. If ever you want to connect via a phone call, text or Facetime for a chat, don’t hesitate to reach out. Rest assured in the weeks/months to come I’ll be connecting with you to do just that – check in, say hi and offer help in any way I can.

I would love to hear from you about how you have been able to give back to your community.

Kindest regards,
Kimberly

 

What is a HELOC?

General Kimberly Coutts 15 Dec

In its simplest form, a HELOC works somewhat like a credit card. You can borrow money up to a certain credit limit set by your lender and then pay back the borrowed amounts along with interest. This option can offer more flexibility — you can even withdraw and make payments on a daily or weekly basis, if necessary.

What determines a HELOC’s credit limit?
A HELOC’s credit limit depends on a number of factors, including your credit and unpaid debts, but it’s determined largely by the market value of your home and the amount you owe on your mortgage. For instance, if you own a home valued at $700,000 and still owe $480,000 on your first mortgage, then your home equity stands at $220,000. Lenders typically limit the amount you can borrow to no more than 80% of the appraised value of your home minus what you owe on your mortgage.

In this case, the maximum amount you’d be able to borrow is $80,000. Here’s how that’s calculated, assuming there are no other liens on your home.
Home’s market value:                          $700,000
80% of home’s value:                           $560,000
Minus mortgage balance:                   $560,000 – $480,000
Potential line of credit:                       $80,000

Benefits of a HELOC?
A HELOC is an open mortgage and can be paid back at any time with no prepayment penalty. There is no cost to use a HELOC unless you have a balance on it. The minimum payments each month are interest only. Ie. $25,000 HELOC balance, Prime +.50% interest rate currently is 2.95%. $25,000 X .0295/ 12 months = $61.45/mth.

What’s the length of a HELOC term?
The length is tied into your mortgage term. If you renew with your lender then the HELOC can be renewed as well. If you change lenders at any time, you can look to have another HELOC attached to your property.

What does it cost to set up a HELOC?
Setting up your HELOC could cost you hundreds of dollars as typically an appraisal and a legal component come into play. Some mortgages are already set up for a HELOC and there might not be a cost. It is on a case by case basis depending on your lender.

How to use a HELOC?
There are numerous ways to take advantage of a HELOC. – Transferring higher interest credit balances. HELOCs will have a very low interest rate compared to unsecured credit (credit cards, LOC, loans, etc). You can still make the same monthly payment you were making but more will be applied to the principle of the debt. This means the debt is paid off quicker. Other uses are:

  • Emergency fund for loss of job, health reasons, etc.
  • Repairs or maintenance on your home.
  • Renovations on your home.
  • Buy investments, property, etc.

What’s next?
Before you decide to take out a HELOC, consider what you’ll need it for. If you’re planning to use a HELOC for home improvements, investments, debt consolidation, etc, it might make more sense to do an actual refinance considering the low rates in the market today.

If you’d like me to outline all of your options, please let me know and drop me an email at kimberly@mawest.ca

Welcome to Kim’s VIP Club

General Kimberly Coutts 15 Dec

Most of you know that I spent the last 15+ years in Business Development within the Hospitality and Tourism sector selling luxury hotels and experiences. I loved my job and was lucky to share once-in-a-lifetime experiences with clients and partners who I now call life-long friends. Drinking champagne in an ice-cave after landing from a heli sight-seeing flight never gets old!

However, when COVID-19 started and borders closed in March all of sudden travel, events and the incentive industry came to a grinding halt. Given that events likely won’t be coming back anytime soon I am super grateful I have an opportunity to work on my passion project full time. The fact that I can focus on helping individuals and families build their own personal wealth every day all day through the purchase or refinance of their homes is very exciting.

So, having said all of this I’m going to be re-engaging more with all of YOU my clients, preferred partners, referral cheerleaders and future new clients via my VIP Club. I’ll send interesting tidbits of mortgage information, keeping in touch, and offering a cool giveaway to keep things exciting.

If you know of anyone else that could use my services and is looking to purchase or refinance I’m always open to an introduction!  My promise to you is that I’ll always provide exceptional service to your valued referral.

** Every month I’ll be doing a draw to support a local business.  Given that COVID has impacted us all in different ways, with small businesses some of the hardest hit I’ll be doing monthly give-aways so that those in my VIP Club can discover new local businesses or perhaps visit old favorites.

 

« First…910111213