North York is one of six administrative divisions of Toronto, Ontario, Canada. It is located directly north of Old Toronto, between Etobicoke to the west and Scarborough to the east. North York was amalgamated with the rest of Metropolitan Toronto to form the new city of Toronto and has since been a secondary economic, educational, and cultural hub of the city outside Downtown Toronto. At the same time, North York is highly multicultural and diverse.
Why do so many buyers choose to buy a North York Homes for Sale there?
First of all, North York has a great location and convenient life. North York is right in the heart of the GTA across Greater Toronto. Next , North York residents are predominantly rich and middle class, and most of the community has great potential for appreciation. Then, North York has an excellent educational environment and excellent school districts. There are many good public and private schools here. For example, McKee, Rippleton, Denlow and Harrison,Earl Haig, North Toronto CI, York mills, St. Andrews. Last but not least, North York has complete public facilities and rich community resources. New immigrant reception stations, human resources centers, community centers, hospitals, libraries and other convenient institutions are readily available here.
Then, what should buyers considerate when search for a North York Homes for Sale? The listing price and interior features aren’t the only things to keep in mind when looking at a house. Nowadays, buyers must also remember to watch out for hidden cameras, high maintenance costs and bad neighbours when touring a property. For more advice on what to look out for when attending an open house or a private showing, read our seven tips below.
1.The Sellers Might be Watching and Listening
In today’s tech-savvy world, buyers who want to buy a North York Homes for Sale must be aware that sellers could be watching and listening during a showing. From Ring video doorbells to Nest security cams, many of today’s homes are outfitted in smart cameras and microphones, making it easy for homeowners to spy on potential buyers as they tour a house. As a result, buyers must be careful with their words and actions while house hunting. In fact, we recommend that buyers always act as if they are being watched (and listened to) when looking at a house – this means being careful not to over-praise or insult a home. Remember: you can always discuss your real thoughts and feelings about the home after you’ve left the premises.
2. Always Compare with the Neighbours’ Properties
Research nearby comparable sales before touring a North York Homes for Sale. These “comps,” or comparable sales, refer to recently sold properties that have similar characteristics. Make sure to pay attention to a comp’s square footage, features and location. This will give you a good idea of whether or not a home is priced fairly. If the home seems over-priced compared to comps, then ask yourself “why?”. Has it been recently updated? Are the finishes nicer than other nearby properties? On the other hand, if the home is priced considerably lower than nearby comps, this may signal a fixer-upper situation.
3.The Realtor’s relationship to the sellers
Does your Realtor (or buyer’s agent) also happen to be the listing agent of a North York Homes for Sale? If so, consider hiring another agent to guide you through the process. While having a dual agent may allow more flexibility in a home’s price, it could end up hurting the buyer in the long run. When the agent represents both the seller and the buyer, the agent technically becomes a transactional broker representing only the transaction. However, since it’s in the Realtor’s best interest (and the seller’s) to get the most money possible for the listing, it’s unlikely that they will truly have the buyer’s best interest at heart. For this reason, we recommend finding a real estate agent who doesn’t have conflicting interests.
4.Where is Your New Home
You know what they say when it comes to real estate: “location, location, location!”. While buyers can replace finishes, move walls and repaint surfaces, they can’t change the location of the home. Buyers must be aware that location is the single most important characteristic of a home. It impacts resale value (and the value in general) more than any other feature of a house. Even North Your is a good area and community to purchase. you still don’t want to be the best home on the worst block. So when hunting a North York Homes for Sale , be sure to keep the location and the community top of mind.
5.The Size of the Home and Potential Growth Challenges
Thinking of growing your family after buying a North York Homes for Sale? If you plan to expand, be sure to keep this in mind when perusing homes. A common mistake that many buyers make is purchasing a small home, only to end up with a space that doesn’t fit their growing family later down the road. The last thing you want to do is move and then move again in the near future. So even if a two-bedroom apartment fits your needs now, keep in mind that it may not fit them in several years. Be sure the house has an adequate number of bedrooms and an adequate amount of square footage to meet your future plans.
6.The Invisible Expense of Having a Property
Mortgage payments aren’t the only thing that costs money. When hunting a North York Homes for Sale , buyers must be aware of other major expenses that go along with homeownership. For instance, if the home is larger than the previous house, buyers will likely have to spend more money on new furnishings and high utility bills. Other additional costs include homeowner’s insurance, property taxes, closing costs and possible renovation costs. Buyers should also factor in the cost of general maintenance needs. For example, if the home has a swimming pool or elaborate landscaping, buyers will need to be able to pay for the upkeep of these features.
7. Perfect Neighbours for You
“Who are the neighbours?” should be the question on every buyer’s minds when looking at a North York Homes for Sale. After all, neighbours can easily make or break a living situation. Families with young kids should look out for signs of other nearby families, such as basketball goals in the driveway or toys on the lawn. Retirees looking for a 55+ community should avoid looking at neighbourhoods packed with young children. Of course, everyone must watch out for neighbourhoods with bad neighbours. From inconsiderate dog owners, who think it’s acceptable to let their dog bark at night, to party hardy neighbours, who are loud and obnoxious.
Timing is everything when you are buying a North York Homes for Sale. You need to figure out how much time you have to complete the process and whether or not you are on a time restriction or not. You may be selling and buying simultaneously or ending a lease, in which case you need to ensure that exchanging the keys for both your old and new home happen around the same time. Financially when you are buying and selling at the same time, you need to consider whether or not you need a bridging loan, which will cover you if you purchase a new dwelling and need more time to sell the old property. It’s all a negotiation between yourself and the other parties involved and communication is imperative. Reading the fine print of any agreement or contract is also vital and it’s helpful to have excellent and experienced legal representation to assist and advise you.
Once you have made up your mind about the boxes that a potential property needs to tick, you can determine on which matters you are willing to be more flexible, and narrow down your options. If you do your homework, you can avoid the pitfalls and empower yourself for a successful and prosperous purchase of a North York Homes for Sale.