Rob Smashnuk

With so many housing choices, especially in urban areas, many first-time home buyers are confused about which kind of residence to invest in. Any kind of dwelling, whether it is a condominium, townhouse or detached home have their respective pros and cons. Before looking into the pros and cons of each property type, it is essential to know what kind of property options are available in the market. Understanding the basic differences between the types of homes can help to make a prudent judgement, especially if you are a first-time buyer.

What Is a Townhouse?

The physical characteristic of a townhouse is a narrow, multilevel residence that is attached to other residences on a street. However, some areas have condominium communities that have two or three-story attached residences. These residences, though physically resemble a townhouse, are in principle condos.

One of the most defining features of a townhouse is its ownership. In the case of a townhouse, the owner usually owns the land on which the house is situated. This ownership is also extended to the front and backyard in conjunction with the residence. Irrespective of the size of a townhouse, the house’s exterior belongs to the owner. In addition, as most townhouses come under the homeowners’ association’s (HOA) regulation, they have to follow several guidelines pertaining to aesthetics rules, fencing, etc. Owners also need to pay for costs involved in insurance and maintenance of the community’s common areas, trash pickup and snow removal.

Condos

Just like townhouses, condominiums (or condos as they are generally called), provide the most hands-off approach to home ownership. The responsibility of maintaining condo exteriors lies with the condo company. However, the costs for maintaining the area are typically borne by the condo owners through their monthly cost and maintenance fees. As compared to a townhouse, condo owners to need to pay for monthly HOA fees as these fees are expected to cover many accessory costs pertaining to condo exterior maintenance, the insurance that covers costly repairs, up keeping and replacements such as that of roofs, elevators, and parking, trash and snow removal. The condo is most suitable if you are eyeing real estate as an investment.

House

Land, exteriors, garage, garden and just about everything else is in your ownership. If this is something you wish for, owning a house is perfect. Detached homes provide the maximum freedom to their owners. Whether it is changing your exteriors, levelling your driveway, decorating, painting or renovating, as a house owner you can make almost all major decisions single-handedly. A house includes ownership and cost of land.

Houses do demand a lot of maintenance and upkeep, whether it is getting your roof fixed, shovelling the snow or maintaining your yard, owning a house requires a major commitment to maintenance. If you are a small family, it may be a little overwhelming to do everything by yourself. In this case, a condo or townhouse may be a much suitable option.

Choosing a home can be overwhelming and confusing, especially if you are not sure which option to choose. Contact Rob Smashnuk Remax. Our agents can help you with making the right choice. No matter what the question is, we have all the answers when it comes to real estate.

When it’s time to sell your home, a bit of preparation can go a long way in bringing you top dollars. But preparation needs meticulous planning, simple upgrades to spruce it up and invite home buyers to rush to invest at once. Consider these suggestions to get there.

Disconnect

This is perhaps the hardest thing to do, especially if you’ve lived there for years. It is tough to disassociate yourself from the memories and emotions of living in a home for years. Think of it as a product to be sold rather than an album containing many memories. Focus on the future instead of the past.

Depersonalize

Once you have mentally disconnected from your home, it’s time to physically do so. Remove the photo frames, artifacts that hold sentimental value, and family heirlooms. Your personal belongings can distract potential buyers from focusing on the house and visualizing it as theirs. They may not be able to share your personal taste either. Your bright yellow sofas may not touch a chord with them the way they did with you. Keep understated pieces around and remove more personalized items.

Decluttering

This is the time to throw away anything you don’t need. If you have not used an item for over two years or even looked at it, it’s time to get rid of it. This includes books, knickknacks, clothes, and bed linen. There is no point in spending money packing and unpacking goods that you don’t really need. Plan ahead so you have time to hold a garage sale, sell online or give away to charity organizations.

Reorganize

Potential buyers are curious to check out every nook and corner. They will open closets and cupboards or peer into cabinets to look at the space inside. If your clothes and personal items topple out in the process, neither of you will be pleased. Rearrange closets, cupboards, cabinets and storage rooms. Keep your kitchen neat and tidy. Fold clothes and hang shirts properly in the closet. Line up the shoes. Make sure there is no dust, cobwebs, pet fur or dander lying around. The last thing you want is to make an excited potential buyer break into an allergic sneezing fit.

Storage Rental

If you have more items than you can handle coming in the way of decluttering, consider a storage rental to put away your stuff. It will make your home look more spacious and will be easier to clean too. Leave enough furniture to lend an air of cozy comfort, allowing enough room for buyers to walk around. Minor repairs for curb appeal add home value.

Repair and Replace

Replace cracked tiles and shingles. Patch holes in the walls. Fix leaking faucets and pipes. A fresh coat of paint will make your home look more attractive. Choose neutral shades when you do so. Bright bold shades may not be everyone’s cup of tea. Replace light bulbs, clean chandeliers and make sure the bathtub is scrubbed. A sparkling bathroom and kitchen can make a big difference. Recaulk tubs, showers, sinks and polish the mirrors and metals. Remove grout, steam clean carpets and replace worn rugs. Make your home look good as new. Your efforts won’t go in waste. In all probability, the returns will be greater if you invest time and money to do it up well for buyers.

Rob Smashnuk, Edmonton Real Estate

The Greater Edmonton real estate market is constantly changing but navigating the tricky world of real estate does not have to be an overwhelming challenge When you choose the Rob Smashnuk team, you choose honest, ethical guidance that you can count on to help you buy or sell a home in West Edmonton. Give us a call today!

Before you set out to buy a residential or commercial property, you need to know the real estate laws and terms to get a good grip on the discussions with your realtor. Here are a few to start with:

Buyer’s and Listing Agents

When you are buying a home, two agents are involved in the process. The buyer’s agent who represents you and the seller’s agent. Sometimes there is only one agent who represents both the buyer and seller but that is not the ideal situation.

Fixed Rate vs Adjustable Rate Mortgages

For conventional loans, you get fixed and adjustable mortgage rate options.

● Fixed rate, like the name, is a predetermined interest rate that remains the same throughout the loan period (usually 20 to 30 years). This offers lesser risks.
● Adjustable rate offers a variable interest rate (5, 7 or 10 years usually). If you are planning to sell or refinance your home before the introductory period ends, this makes better sense.

Pre-approval Letter

You need a pre-approval letter from the bank before you start house hunting, giving an estimate on the amount they can lend you. This helps you determine how much you can afford and reassures lenders when you apply for a mortgage.

Home Listings

Homes for sale fall under the “listings” category. Home listings on websites throw light on the price and number of bedrooms among other details. Look up realtors who list all homes for sale or you may lose out while selecting from a limited listing.

Home Inspection

Once you place an offer on a home you like, the realtor will help you with home inspection for a certain charge. The inspector will look around the home and review the plumbing, HVAC, foundation walls, and electric appliances. If they find substandard fittings or sense something wrong, the realtor can help you bring down the price. If there are severe concerns, you could reconsider the property to save further costs in repairs later.

Appraisal

Once you apply for a mortgage with a lender, a home appraisal is required to estimate the value. This is done with a comparative analysis of other homes sold in the neighborhood, in addition to evaluation of the neighborhood’s value. If the appraised value falls short of the offer you are making, you might be rejected for your home because the lender will be overpaying. To avoid this, ask your realtor to check out the property and neighborhood value beforehand. When you sell, get an estimate on the worth of your home and find out ways to increase home appraisal value.

Contingencies

When you place an offer for your home, you can ask for certain conditions to met before the deal is passed. This is called contingencies. Inspection contingency is when you ask for inspection of the home. Financial contingency is when you get the finances for the loan. There are many other contingencies that your agent should inform you of.

Rob Smashnuk, West Edmonton Realtor

There’s a lot to deal with in real estate matters. A good realtor can explain matters in simple language and is well connected to reliable service providers. Make sure your home search starts with a good realtor to navigate more smoothly. The Rob Smashnuk team specializes in the Secord neighborhood that is growing in popularity rapidly. Our team has the expertise to help you both buy and sell your home in West Edmonton, every step of the way. Give us a call today.

Only a few people may be able to afford a house without getting a mortgage, which is a loan acquired to buy a home. Federal and private lenders loan you large sums of money and use your house as security. Signing a mortgage means pledging to pay the loan and agree to have your property taken away if you fail to repay the full sum with interest. The loan is referred to as a principal and we are expected to pay the principal with interest throughout the repayment period.

Sources of Mortgages

Mortgages are supplied by banks and brokers. Banks are limited in the products they can offer as opposed to mortgage brokers, who have access to an increased number of services since they work alongside several lenders. On the other hand, your bank is a familiar place for you. The bank will already have your information about your credit scores, income and down payments; all the criteria that need be assessed in order for you to get a home loan. You have established a relationship with your bank and they may guide you in spending efficiently. The choice ultimately comes down to a personal decision.

Pre-approval

Brokers, lenders, and realtors often suggest aspiring homeowners to first get pre-approved for a mortgage. The free service assesses the credit ratings and finances of potential buyers and provides them with an estimate of how much they can afford. Being pre-approved gives home buyers confidence while looking for a home. It narrows down their searches and gives them the information they need to negotiate. Pre-approvals can be done with the help of lenders and it is a good idea to provide them with in-depth information regarding your financial history, in order to get the most accurate estimate of your affordability.

Size of a loan

Home buyers can borrow up to 95% of the house cost and they will have to pay the other 5% in the form of a down payment. The crucial part of searching for homes entails considering the impact payments will have on your life. It is important to realistically go through your budget and consider what fits your lifestyle.

Mortgage plans

The task of choosing the right mortgage plan can be a daunting task for first time home buyers. Mortgage plans may come with an interest rate that varies in accordance with the market, instead of being fixed. First time buyers often choose fixed rate options to avoid running the risk of increased interest rates. However, once they have gotten accustomed to a fixed mortgage plan and monitored the market for a couple of terms, they may feel comfortable switching to a variable plan.

Contact Rob Smashnuk Team in Edmonton!

Getting a mortgage includes making a lot of important decisions. A good realtor can help you make one of the largest financial decisions of your life. Rob Smashnuk, a trusted Edmonton realtor, strives to assist each client to achieve their real estate goals through honest, friendly, and helpful communications and services.

Visit robsmashnuk.com to view all the services we provide. You may also call to chat with us at 780-916-4109.

When it comes to purchasing your first home, it can be a nerve-wracking process, especially in the competitive greater Edmonton real estate market. Home buyers can feel lost in the noise, hustle, and paperwork of purchasing their first home. When all you want to do is find your perfect dream home and purchase it, you need an experienced Edmonton realtor at your side to help you land your perfect home. While having a realtor will help you through the process, there are some things that you need to know before you even look at your first open house.

Know where to look

West Edmonton homes for sale can vary from smaller, single family dwellings to larger, sprawling estates. For first time home buyers, it can be difficult to even know where to begin within this market. An Edmonton realtor is sure to help you begin your search and find you that perfect home. One of the first things that you need to know is that you need to keep an open mind about what it is you want in your home. While having that vision of the perfect home in your mind is great when you being looking, it can be important that you also take the time to understand that there are homes out there that have things you might not have thought about. Perhaps you dream of having a wide open kitchen with a huge island but in your search, you find yourself attracted to a half wall that a home has in its kitchen. You can find things in homes that you never thought you wanted or that you never thought you might have enjoyed.

Do some renovations

Another thing that you should keep in mind when it comes to purchasing your first home is that there can be benefits to purchasing a home that needs a little improvement. Building off of our last point, there can be merits to purchasing a home that you do not believe is your perfect dream home. Perhaps you fell in love with the features of one home, but it needs updating. That can be amazing as you can then work to update that home to have everything that you want in it. There is something to be said about customizing a home to your tastes and not just living in a home that you buy. It allows you to feel more attached and to personalize the home into something that feels yours.

You don’t have to live in your first home forever

One final thing to think about when purchasing your first home is that it doesn’t have to be your “forever home.” If you are a young couple, then it can be worth it to look into a one or possibly two bedroom home when you are just starting. However, once you have settled in, you may find yourself thinking of starting a family. You may decide that your current home doesn’t have the space that you need to raise that family and decide that you need to find a larger home.v

Whether you’re buying your first home or seeking to upgrade or downsize, there are a number of factors to consider before you fork over your hard earned money.  

1.Time can be your friend
Hopefully when you’re looking for your home, you’re not in a big rush to make a move.  Time spent determining exactly what you want out of your space will help you end up with the perfect residence in the end.  A rushed purchase might mean you overlook crucial aspects and regret your decision.  Make a list of your needs and then your wants so that you know just what homes fit the bill and which you can immediately cross off your list.

2.Your housing needs
Is your family growing or are you new empty nesters?  Do you often host family and friends for overnight visits or are you most often alone?  Be realistic about your home size needs; there’s no point in owning unused space that collects dust, but it’s just as frustrating to be scrambling to find extra space when you need it.  If you’re a great cook, make sure to check out the kitchen space; if you work from home, is there an ideal office space to tuck away into?  You’ll also want to look at bathrooms (how many are there?), storage space, and whether or not the basement is finished.

3.Old or new
If you love doing renovations and can afford the time and money, go ahead and buy that “handyman special”.  Otherwise, look for something that needs very little repair or renovations other than a coat of paint to make it yours.  Solid bones are the most important feature in any home. We can sometimes get wrapped up in the romantic idea of renovations, but often they cause many headaches and grief unless you’re prepared and know what to expect.  

4.The yard
The yard can be just as important as the house itself.  Is the yard a pleasant space where you’ll want to spend time?  Which direction does it face?  (Will you get enough sunshine?)  Is it fenced and are there spaces for your hobbies, whether you play outside with the kids or want to putter through flower or veggie beds?  What’s the noise level like when you’re standing in the yard?  Does the front yard have curb appeal?  How much work will it take to keep the yard maintained?

5.The neighborhood
Before you sign the dotted line, chat with a few neighbors in your area of choice.  Your real estate agent probably has some information about how many homes are owner occupied or if the area has more retirees than young families, but your neighbors are an even better source of information.  Ask them about noise levels, who in the neighborhood has caused issues, and crime rates.  Most people will be more than happy to offer information.

6.Go with your gut
Often walking through the front door is all the sign we need as to whether or not the house is a good fit.  Get a feel for the space and trust your instincts!

Real Estate Professional Rob Smashnuk

If your current kitchen or bathroom tile is grimy and tired-looking, don’t jump to the conclusion that it’s beyond saving, and in need of an expensive renovation. Instead, look into the many products and services that can salvage the tile surface and clean up the darkened grout. Take a picture to help identify the problem, and consult the experts at your local home improvement store for industrial-strength remedies. In many cases, you can restore your existing tile to it’s lustre with a strong cleaner that can remove built-up soap residue and a professional-grade polish to bring back the shine. Grout lines often collect unhealthy mould spores due to lingering moisture, but fortunately there are specialized products for cleaning and refreshing them as well. If these solutions seem like too much work, look into the many companies that specialize in refurbishing and repolishing all types of synthetic and natural tiles and stones.

I hope to provide valuable information and helpful services to those in need. If there’s anything else I can do to help you with your real estate investment – such as offering additional advice, information or recommendations, please give me a call!

Rob Smashnuk

Over the years that you’ve owned laptops, smartphones, tablets, speakers, and other portable electronic devices, you have probably accumulated a number of electrical adapters, and may even have kept them for potential use on a replacement device. This can be dangerous. Most portable devices have specific types of batteries that require very specific power input. Incompatible pairings can cause severe damage, as well as render a device’s warranty null and void. Each adapter delivers a precise amount of electricity from a standard 120 volt AC wall plug by calibrating the electricity so it is compatible with the lower voltage DC batteries within the specified device it is designed to power. An improper match could cause hazardous overheating or frustrating underperformance, compromising delicate circuitry. For this reason, it’s risky to presume that older adapters with matching fittings are actually safe for your device, especially if you’re travelling to countries with different electrical systems. Fortunately, newer adapters that use USB connections tend to have a broader range of compatibility, although you should always follow manufacturers’ guidelines before usage.