There are advantages and disadvantages to both new and resale homes. Here are some of the characteristics of both that may help you make your choice.

New Home

Advantages:

• You may be able to upgrade or choose certain items such as siding, finish materials, flooring, cabinets, plumbing and electrical fixtures.

• The latest building code, electrical and energy-efficiency standards will apply. A builder warranty is usually available in all provinces and the Yukon (but not the Northwest Territories). This can be important if a major system, such as plumbing or heating, breaks down.

• Unless you are a builder, warranties do not apply to homes you build yourself.

• There may also be incentives provided by the provinces and prospective borrowers should consult provincial or local authorities in this regard.

Disadvantages:

• Neighborhood amenities, like schools or shopping, may not be complete if the house is in a new development.

• There may be construction noise and traffic.

• There may be little to no landscaping or trees.

• The 7% GST applies to new housing. In some provinces, the GST has been replaced by a Harmonized Federal and Provincial Sales Tax known as the HST.

Resale Home

Advantages:

• It will probably be in an established neighborhood.

• Landscaping is usually done and fencing installed.

• It may have upgrades such as a built-in swimming pool or finished basement.

• There is no GST unless the house has been renovated substantially, and then the tax is applied as if it were a new house.

Disadvantages:

• Maintenance costs will likely be higher than for a new house.

• You may require a professional home inspector to check for structural or other problems, such as a leaky basement or faulty roof.

• You may need to redecorate, or even renovate.

So much to understand before you get started. If you have questions or need more information contact Bill Brandsma at 403-606-1765…always happy to help.

Maximized Exposure

The key to selling quickly and getting top dollar is exposure. The more people who see your home, the sooner you will find a willing buyer. How do you get the most exposure? If you sell the home yourself, you will get some exposure by putting up a sign, running some ads, and telling your friends. On the other hand, if you work with a REALTOR you will get instant and mass exposure to a large number of prospective home buyers.

MLS®

A REALTOR has access to the Multiple Listing Service® (MLS®). This service, a computerized system operated by the local real estate board, compiles information about listed properties in the area and makes it accessible to member companies. As a result, when a REALTOR lists your home, REALTORS from other companies learn about your home and try to match it with buyers with whom they are working. These buyers may include people from out-of-town who are trying to relocate to your area.

A REALTOR can speed the selling process in other ways:

• By specializing in real estate, a REALTOR knows market values and can therefore
  help you set a competitive price for your home.

• A REALTOR can free you from the hassles associated with showing your home
  and screen out people who are merely curious.

• A REALTOR is objective when negotiating with buyers and experienced in reading
  the fine print of contracts.

• By staying on top of the mortgage market, a REALTOR may know how to wade
  through financing tangles and clinch a sale.
• Selling a home is not something that anyone can do in their off-hours. It’s a
  specialized service best handled by a professional. Best handled by a REALTOR.

When you’re ready to take the next step, call Bill Brandsma at 1-403-606-1765.