Could the Canadian housing market be in store for the return of the low-ball offer? While this buying strategy became all but extinct given the heated housing market in the last couple of years, rising interest rates have caused many markets to cool, and shift from strong seller’s markets to more balances, or even tilted in favour of buyers.What is a Low-Ball Offer?A low-ball offer is when a prospective homebuyer makes an offer to purchase a home that is below the asking price.When Should You Make a Low-Ball offer?Low-ball offers are more common in a buyer’s market, when there are more listings than there are buyers, and competition is not a factor. Another common scenario for low-ball offers is when looking to purchase a fixer-upper. Another common scenario for low-ball offers is when the buyers know they are dealing with a very motivated seller who’s objective is less time on the market, versus holding out for a price.While there’s no hard and fast rule when it comes to making a low-ball offer, there are some things you can do to improve your chances of success. First and foremost, trust your real estate agent’s professional opinion on whether or not to come in at a low price, and exactly how low you can go.5 Things to Consider When Making a Low-Ball Offer1. Understand the market. If it’s a buyer’s market, you have less competition and more negotiating power. In a seller’s market, homes are in greater demand (often thanks to an influx of buyers, a shortage of listings or a combination of both scenarios) and the chances of a successful low bid are less likely. When deciding whether you should try to go in with a low-ball offer, trust the market conditions more than the home’s listing price. Your real estate agent will likely already have done a comparative market analysis, offering valuable insight on what comparable homes in the area have sold for recently.2. Consider days on market. How long has the home been listed for sale? If you’ve been shopping the housing market, you’ll notice it when a home keeps surfacing in your listings feed. As days turn into weeks and months, depending on the homeowner’s urgency to sell, he or she could be more likely to accept a low-ball offer. It could be market conditions that have the home sitting on the market without any nibbles, or it could be the home’s condition. As part of your offer, a home inspection is a good idea to determine if any problem areas can be fixed and at what price. Find a home inspector here.3. To sweeten a low-ball offer, make it a clean one. When a quick sale is the seller’s objective, a great way to sweeten the pot of a low-ball offer is to remove the conditions. The seller likely already feels like he or she is making concessions on price, so removing conditional clauses could help. To help you stay limber at the offer table, ensure you get pre-approved for a mortgage before you start shopping. You’ll already have been approved for financing, and you know exactly how much you can spend. Removing this condition could tip the scales in favour of a quicker sale. But buyer beware! It is generally recommended to have a home inspection before agreeing to buy any home. Understand the seller. Knowing the seller’s reasons for listing their home could help inform your buying strategy. Maybe the homeowner has already purchased another home and needs to unload this one, to avoid paying double mortgages, double property taxes, double utilities. You get the idea. Perhaps the owners have inherited the property and have no interest in keeping it. A new baby, a new job, or a slew of other factors could also prompt the need for a quick sale. How low is a low-ball offer? Don’t risk offending the seller or the listing agent by coming in with an unreasonable offer. Ultimately, every seller wants a fair price, just as every buyer wants a bargain. Don’t waste the seller’s time, or yours, with an offer you know won’t be accepted. Be fair, and come prepared with rationale behind your low-ball offer. It could be the market, the home’s condition, the location of the property, the length of time the home has been on the market, or something else entirely.The success of your low bid will depend on a number of factors, including your strategy, market demand and the seller’s sense of urgency to sell. Work with your real estate agent to ensure your strategy is considered from every angle.Still Have Questions?If so, that’s okay. You’re not alone. RE/MAX Canada hit the streets in a new video series, to find out just how much (or how little) the average person knows about Canadian real estate, and to offer some answers in the process..Connect with a RE/MAX agent for answers to all of your real estate questions..fusion-body .fusion-builder-column-1{width:100% !important;margin-top : 0px;margin-bottom : 0px;}.fusion-builder-column-1 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-1{width:100% !important;}.fusion-builder-column-1 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-1{width:100% !important;}.fusion-builder-column-1 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}.fusion-body .fusion-flex-container.fusion-builder-row-2{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}The post How Do You Make a Low Ball Offer? appeared first on RE/MAX Canada.

The skyrocketing price of houses has some people wondering: is there a way to own a home that is affordable? And the answer is yes. A tiny home can provide you with a permanent residence and give you more financial freedom. Just because a home is small does not mean it is uncomfortable. If you choose the right kind of tiny home, you can experience a life of freedom, flexibility and adventure.Tiny Homes on FoundationsTV shows like Tiny House Nation (Netflix) have made the idea of the tiny house on a foundation more popular in recent years. This is an excellent option if you have a piece of land and want to build a “normal” home that is just smaller. You would build your home on a concrete foundation, or if you think you might move it at some point, you could choose to construct it on pallets.Backyard tiny homes, laneway suites and “Granny pods” are a subset of foundational tiny homes that can be built on a property with a preexisting house. These dwellings may be rented to tenants or used as an Airbnb, and can potentially add value to your home. Granny pods are also a popular living option for seniors to live with their families while still retaining their independence.Tiny CabinsTiny cabins are an excellent option for a recreational property, whether owned or rented. They appeal to builders who want a large-scale DIY project that will last for many years. A-frame tiny homes are popular on the east coast, and the high ceiling creates a feeling of spaciousness despite the limited area. Arched cabins are similar but feature a more rounded design. You can even purchase a custom-built cabin on wheels.Tiny Homes on WheelsOne of the many appealing features of a tiny home is that they are portable, and a tiny home on wheels is the ultimate way to see the country while working remotely. A recent trend that is gaining traction is the conversion of old buses. Once the seats are out, you are left with a long home and a blank canvas that can accommodate many different designs. Once the bus is converted and retrofitted all you have to do is start the engine and hit the road!If you find that a bus might be too big or too expensive, a van can also work as a tiny home. It is a less spacious option, but it can be a very cozy place to live for a summer or even permanently with the right tools. Trailer HomesRVs, 5-wheelers, motorhomes – these are the original tiny homes. They were initially designed for vacationers but more recently they have become a comfortable option for those looking to live off the grid or in a smaller space. The significant benefit of a trailer home is that it requires no construction and can be easily picked up from a dealership and placed.Over the years, trailer homes have been built with more and better amenities, including entertainment systems, fireplaces and heated floors, so they really feel like you are living in a more traditional home. Make sure that you invest in a trailer home that’s suited for your local weather – many cannot be used during winter unless expressly made for all-season living.Unconventional Tiny HomesWith a little bit of imagination and a lot of work, you can make a tiny home out of pretty much any structure. Conventional tiny homes are more popular because they are easier; however, people have been known to convert structures like shipping containers or yurts into very comfortable living spaces. There are also more natural options for tiny homes, such as living underground or a Cob house made out of a durable mixture of clay, sand, and straw. If you live near the water, you could consider living on a houseboat. The choice is yours.There are many different types of tiny house options available, and all of them are very affordable and comfortable with the proper care. We can guarantee that a tiny house will appeal to your desire for simplicity and allow you to enjoy all the pleasures that life has to offer..fusion-body .fusion-builder-column-0{width:100% !important;margin-top : 0px;margin-bottom : 20px;}.fusion-builder-column-0 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-0{width:100% !important;order : 0;}.fusion-builder-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-0{width:100% !important;order : 0;}.fusion-builder-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}.fusion-body .fusion-flex-container.fusion-builder-row-1{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}The post Types of Tiny Homes appeared first on RE/MAX Canada.

If you are in the process of putting up your house for sale, you may have thought about staging it to attract potential buyers. Staging a home involves creating spaces that are furnished just enough that potential buyers can envision themselves (and their stuff!) living there. Home staging can reduce the time a listing spends on the market, increase the number of potential buyers, and yield higher offers. So, how much does it cost to stage a home? Here’s an estimated breakdown.How Much Does it Cost to Stage a Home?Initial Walk-Through Consultation: $150-$600 – In the initial consultation, a professional home stager will walk through your house with you and offer ideas on how to use your existing interior décor to stage the space and highlight notable features.Initial Consultation and Organizing Existing Décor: $800 – For a bit extra, your hired professional stager will organize the existing décor in your home, advise what to put in storage, and make an action plan with you for the next steps. Initial Consultation, Organizing and Redesign: $1,500 –You can expect the home stager to give you a detailed plan that includes descriptions and images of the furniture arrangement plan once any rented furniture is delivered. They can also paint your kitchen cabinets to give them a fresher look.Colour Design Consultation Services: $300 – If your house requires painting, the consultation will include a colour plan.Furniture Arrangement: $250 per room – When your furniture rentals are delivered, a professional home stager will organize each room for you.Decluttering, Packing and Organizing: $650 – The home stager will help you declutter your belongings, pack them into storage, and reorganize anything that remains behind to help stage your home. This price does not include any packing materials.Monthly Décor and Furniture Rental: $500-$600 per room – You can rent just about anything to help stage different spaces in your home. In addition to furniture, you can rent lamps, mirrors, plants, and other decorative items. The price will vary depending on how much of your personal belongings can help stage the home, but you can expect to pay between $500 and $600 per room per month.Monthly Staging Fee: varies – Each professional home staging company will have slightly different prices and policies. Some staging professionals have a minimum time frame that you must agree to, so if your home sells in the first week, you are still bound to pay that contract until it is over.Where to Save Money on Staging CostsOnly stage the most important rooms. Every house will be different in terms of selling features, so take some time to identify which areas should be highlighted and others that can remain empty. Usually, the staged rooms include the living room, kitchen, dining room, and primary bedroom, and the rooms most often left alone are the basements, attics, and spare bedrooms. However, if you see potential in a room or space that should be highlighted, consult with your staging professional on the best course of action.Try to use your existing furniture and accessories as much as possible. You will want to declutter and remove any excess belongings, but you can use some of your current furniture and décor to stage your home. However, make sure not to use personal items like family portraits and knick-knacks. With a bit of rearranging and freshening, you can make your home look welcoming to potential buyers.Limit your rentals. If you must rent furniture and décor, try limiting it as much as possible. Invest in renting a few key pieces instead of many. For example, instead of a complete dining room set, you can opt for a small table with just a couple of chairs or one sofa instead of an entire living room set.Consider virtual staging. Many homebuyers shop online nowadays, so virtual staging is a cost-effective way to stage your home without renting any furniture. If your house is empty, a professional virtual stager can insert digital images of furniture and décor into your home for buyers to see online. However, the house will remain empty when anyone tours it in person.It can be costly to stage your home, depending on how many rooms are staged and how much needs to be rented, but it is absolutely worth the price. Talk to your real estate agent today for advice on home improvement and ideas for staging your home.Still Have Questions?Buying or selling real estate can be confusing, and there’s likely a lot you don’t know about the process. RE/MAX Canada hit the streets in a new video series to find out just how much (or how little!) the average person knows about the housing market, and to provide some answers in the process..Still have questions? Your best bet is to connect with a RE/MAX agent. Click HERE to find one near you..fusion-body .fusion-builder-column-0{width:100% !important;margin-top : 0px;margin-bottom : 20px;}.fusion-builder-column-0 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-0{width:100% !important;order : 0;}.fusion-builder-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-0{width:100% !important;order : 0;}.fusion-builder-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}.fusion-body .fusion-flex-container.fusion-builder-row-1{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}The post How Much Does It Cost to Stage a Home? appeared first on RE/MAX Canada.