Terina Wnuk, Author at Terina Wnuk

What Every Downsizer Needs to Know Before Selling Their Home

Drowning in stuff? Stay tuned to unlock the secrets to a simplier way of life! If you're considering downsizing, I have helped numerous sellers in Saugeen Shores go through the process of how to get their house ready to sell when they are at the stage in their life where they want to minimize their clutter to maximize their freedom.

Decluttering

First up, let's tackle decluttering, decluttering isn't just about letting go; it's a step towards showcasing your home at its best. Recognizing the emotional and physical toll this can take, I partner with local companies that specialize in not just decluttering but also in organizing your space, performing minor touch-ups, painting, landscaping, you name it, all of which significantly impacts your selling price. Our goal is to ensure your home shines and stands out in the market, all while guiding you through a stress-free process. It's about making your home ready to list, ensuring every corner, every room speaks to its full potential. It's not just about parting with possessions; it's about cherishing memories and making room for new ones.

Understanding the Market

Next, let's understand today's housing market as that is crucial. Whether it's been 25 years or just a few since you've last bought and sold a home, the landscape has changed. We'll break down current trends, pricing strategies, and the importance of finding the right fit for your next stage in life.What does that look like for you, low maintenance living like in a condo or townhouse or maybe you want to transition from a 2 storey home to a small bungalow with a manageable yard. Whatever your desire, I'm here to guide you every step of the way, ensuring your move aligns perfectly with your dreams and lifestyle preferences.

Financial Planning

Downsizing is also a financial journey. Collaborating with a financial planner can turn the daunting into a well-orchestrated plan, ensuring you maximize your benefits from downsizing. We'll explore how this move can enhance your financial freedom. If you haven’t found the right person to help you with your planning, I work with experienced Planners who are eager to help you

The Selling Process

Selling your home involves several crucial steps, each requiring careful attention to detail. First, being prepared for photo and video day, pros and cons of having a pre-listing home inspection conducted, ensuring your property is presented in the best possible light to attract potential buyers. Understanding online showing procedures, including how to prepare for and manage viewings and open houses effectively.

As offers start coming in, I'll guide you through the process of reviewing contracts and understanding our latest real estate laws to ensure you're fully informed and protected. Additionally, I'll coordinate inspections and appraisals, providing support and expertise every step of the way to ensure a smooth and successful transaction.

Closing and What's Next

Finally, when it's time to close the deal on your home, there's a lot to go through. But don't worry, it's the last step to moving on to something new. With my experience as a law clerk, I understand the legal process and will make sure you know exactly what's happening. I've helped many people through this for decades, so you can count on me to make everything smooth for you.

With the right approach and support, downsizing doesn't have to be stressful. It's saying goodbye to clutter and a step towards a new, simplified life. Imagine living in a space that fits your current lifestyle perfectly, freeing you from unnecessary burdens.

If you're on the brink of downsizing and need guidance, or if you have any questions, feel free to reach out. Thank you for joining me today. Remember, downsizing is not about saying goodbye; it's about welcoming new opportunities. Until next time!

I Found A House I Like, Now What?

Are you a first time home buyer and you found a house you like and you are asking yourself, now what? I am going to walk you through what you need to know about submitting an Offer, including some terms you will want to know and I will give you some important tips to keep you out of legal trouble. You will feel more confident about buying your first home. I found a house I like, now what?

In how we will approach your Offer, we will want to know if the Seller is holding Offers which in this market occurs more often than not. This means that the Seller will list the home and schedule a date and time when they will review any Offers, generally one week after listing. This will give you time to do a couple things, reach out again to your bank or mortgage broker to discuss the home you are interested in. Schedule a pre-offer home inspection. Contact internet providers to ensure the connection meets your needs; have a conversation with your insurance agent to ensure your home will be covered. There are insurance concerns that you need to be aware of that may hinder receiving insurance, like, kitec or galvanized plumbing or aluminum wiring. Your Realtor will help you with your questions and concerns.

What Is A Pre-Emptive Offer/Bully Offer

When the Seller decides to hold offers, they may or may not consider pre-emptive or bully Offers. This means that if the Seller decides, they will look at Offers prior to the scheduled Offer day, Sometimes they will be more specific of the terms that they want in Bully Offer, for example, over list price or no conditions. If they don’t want to review Bully Offers then everyone submits their Offer at the same time on the day that is scheduled. We will not know the terms of any other Offer nor is the Listing Agent allowed to disclose what is in any Offers that are received. When you are competing with multiple Offers, my advice is to put your best Offer forward as you may not get a second chance to submit. There is nothing worse than knowing what the home sold for and being disappointed as you may have gone higher.

What Price Do I Offer?

To submit your Offer, you will go over the terms of what you want with your Realtor and that will be included in an Agreement of Purchase and Sale. Of course the most important question will be the price. A couple items determine your price. Obviously your budget and being pre-approved in advance will give you the confidence of what you are comfortable with. Your Realtor can provide you with what is currently for sale in the area and what properties have sold on MLS or for sale by owner and for how much. As well, if you know there are going to be multiple Offers, take that into consideration for your Offer as well. The more Offers there are, the more likelihood of the home being sold for over list price with no conditions. Don’t worry, you will not offer more than what you are willing to pay. There are instances where the listing will indicate what closing date the Sellers and the amount of the deposit that they wish. For example if Seller asks for a $5000 deposit and your Offer is accepted, you have to provide the deposit within 24 hours of your Offer being accepted. If not, you can lose the house, lose your deposit and potentially be in legal hot water which can be very costly and stressful. You will be credited for your deposit on the Statement of Adjustments which I talked about in my previous blog. If you want to make your Offer as attractive as you can in a multiple Offer situation, then accommodate the Seller’s wishes and if possible, submit with no conditions or even provide a letter or video from you.

What Are Some Conditions That Are In An Agreement Of Purchase And Sale?

What are some of the conditions in an Offer? This may be financing, home inspection or if you are buying a condo, a status certificate review. Sometimes you won’t be in a position to satisfy those items before submitting an Offer, so you will include them as a condition in your Offer. For example, in your Offer, you would include a financing condition for let’s say 10 days. You either fulfill your condition or if you can’t, you would ask for a Mutual Release and get your deposit back, as long as you acted in good faith in attempting to fulfill your conditions. If you are having cold feet about buying the house, then don’t submit an Offer. This just may not be the house for you. If you fulfill your conditions, congratulations you have purchased your first home!

What Costs To Expect When Buying Your First Home

Are you a first time home buyer but you are feeling nervous and not sure what to expect? Let me help you ease your mind with my first 4 steps when buying your first home, especially Steps #3 and 4 which most buyers may not even be aware of. This blog will help you feel more confident when considering purchasing a home for the first time.

#1 Be Pre Approved

If you are not sure who to contact, ask your friends and family which bank or mortgage broker they have had positive experiences with. A mortgage broker will be able to provide you with a broader choice of lenders and rate options and they can be available to you outside of regular banking hours . You do not pay a fee for their service. Important Tip, before you purchase that new car, speak to your mortgage broker first as this may negatively impact you being approved for a mortgage depending on your debt.

#2 Choose a REALTOR®

Choose a Realtor® to help you. Again, your friends and family can help you. Do your research (read Google Reviews, look at their websites) see who is a good fit for you. Your Realtor will help answer all your questions and be someone who will calm your stress. This is not a one size fits all. Important tip, you don’t have to use the listing agent to view a specific home. Your Realtor can show you any homes that are listed or even homes that are for sale by owner. You do not pay anything for a Realtor to help you unless you agree on that in writing with your Agent but for the most part the Seller pays the commission to the Listing Agent and the Buying Agent.

#3 Pick a Location

Decide on a location of where you want to buy your home. Keep in mind the location you want may not accommodate your budget but your Realtor will offer you options that may work for you. If there are features you absolutely must have, please discuss this with your Realtor to help you narrow down your search. Important Tip, be honest with your Realtor of what you want. Not just about bedrooms and bathrooms but maybe about whether you want a home in the City or Country or perhaps you wouldn’t be interested in viewing a home where someone has passed away in. I have worked with Buyers who do not wish to purchase a home where someone has died in no matter what the reason. Important to know, The Listing Agent does not need to disclose the fact that someone died in the home so if that is important to you, talk to your agent so they can help you!

#4 Start Looking at Homes

See a house you like, take the time and look at all the photos and virtual tours online first. You want to see more? If you can, drive by the house and see what you think. If there is something about it that you know you wont like then you have just saved time from booking a showing to view it in person. If you want to see more, contact your Realtor® to arrange a mutual day and time to view the home. The Seller may have certain restrictions on what you will need to know before stepping into their home. Currently, masks are mandatory as well as sanitizing your hands before you enter the house. Only 2 adults may be only permitted at times and the Seller may want only the Agent touching the surfaces. This may be your only time to view the home before submitting an Offer, so take this time to be observant. Quick tip, in this fast pace market, you may have an option of having a home inspector come with you to your showing to walkthrough the property with you for a limited inspection on some of the big ticket expenses like condition of roof and foundation, electrical, plumbing for instance.

So you find a house you like and you want to submit an Offer, so now what? Read my next blog where I will go into detail on the Offer process. It’s not as bad as you think!

What Costs To Expect When Buying Your First Home

Are you a first-time home buyer and you are wondering what costs to expect when buying your very first home. In this blog, I am going to walk you through some of those expenses that you need to be aware of so you can budget accordingly!

Your first cost may be your deposit. That will be delivered to the Listing Brokerage or Seller’s Lawyer once you have an accepted offer and that amount can vary. This amount will be credited to you on closing and you will review this document with your lawyer. This document is called a Statement of Adjustments and it is going to indicate the balance that you owe to the Seller on closing as well. Your first conversations with your bank or mortgage broker will not only help you figure out your mortgage that you will be approved for but what some of the costs will be. If you are buying for $500,000 or less, your minimum downpayment is 5%. If you are buying for more than $500,000, your minimum down payment is 10%. If you are buying for $600,000 for example, your total down payment would be $35,000.

Land Transfer Tax And Other Disbursements

Your lawyer will assist you with the legal work and they are going to ensure that you have valid title and they will register the Deed into your name. There are many expenses that you need to consider both with lawyer’s fees and disbursements. Lawyer’s fess do vary from lawyer to lawyer. You can speak with them to get more of an accurate cost. The biggest expense will probably be Land Transfer Tax which is a government tax that everyone pays when they purchase property, It is a formula based on the purchase price. However, there are rebates out there for you first time home buyers, if you qualify. To qualify, you must not have owned a home anywhere in the world and your spouse cannot have owned a home while they were spouses with you. The maximum amount of the refund is $4,000.00 and there is no land transfer tax payable on buying property up to $368,000.00. If you purchase a home for $600,000.00, taking into consideration your rebate and buying outside of Toronto, your land transfer would be $4,475.00. Request a free buyer’s guideline from me and I’ll give you more information on that. There are disbursement expenses you need to keep in mind, for example, searching title, registering your Deed, Mortgage, Title insurance. Speak to your lawyer about title insurance. Some companies’ benefit plans may cover this cost. Another cost would be house insurance ,which is mandatory if you have a mortgage. If you are renting now and you have a tenant’s insurance package, speak with your insurance company about binding insurance on your new home. You may receive a discount if you have multiple policies with the same insurance company. They will have many questions about the home, so ask your realtor to help you answer some of these.

How Property Tax Is Calculated

Property Owners pay property taxes and that is a formula based on the mill rate that the Town or City sets multiplied by the assessed value. Property taxes, as well as propane or oil costs, these will be indicated on the statement of adjustments that I mentioned earlier. These amounts will be adjusted fairly on this document and will either be credited to you or the seller based on the proportionate share. Other costs to consider would be moving costs. Once you have a firm Offer you should contact movers right away to schedule moving day. Their prices may vary, but for example a minimum of of 4 Hour move that could run you $185.00 an hour plus tax. Of course, you are going to need utilities and you are going to have to contact utility companies to put the utilities in your name. If you are a new account holder, they may ask you for a deposit so make those calls to see.

So this covers most of your expenses that you may incur however, budget for more for some unknowns that come up. It doesn’t hurt to contact the service providers I mentioned above in advance to give you any idea on more accurate costs that you may incur.

So what are the first steps in buying a home, be sure to read my next blog to walk you through my first 4 steps of buying your first home. For all your first time home buyers out there, if you are interested, contact me for your free First Time Home Buyer’s Guideline.

What 5 Things You Need To Know Before Relocating To Saugeen Shores

Are you re-locating to Saugeen Shores for work, or retire or now that you can work remotely, you want to move out of the City. No matter what the reasons, these are MY 5 things you need to know before re-locating to Saugeen Shores, including reasons you may not like.

#1 Our Beaches

If you haven’t been to our beaches in Saugeen Shores, you are definitely missing out. We have sandy beaches and beautiful blue water. It’s like you are on a tropical vacation. You can enjoy walking along the boardwalk enjoying Lake Huron views or take a seat in one of the many benches and appreciate the breathtaking sunsets. The main beach can be very busy but as a local, you will soon learn the more quieter beaches to use. There are many beach accesses throughout Saugeen Shores.

#2 Nightlife

Are you one that loves hopping from one nightclub to another with VIP bottle service, well you won’t find that here, but what you will find are great pubs and some that have their own brewery, open mic nights, karaoke nights and some of the best live music there is to offer. If you are looking for an uber or taxi after a night out then unfortunately, you may be waiting for a very long time. No ubers and taxis are really hit and miss if you can even get one. So you will have to plan in advance for a ride home or you can also walk if you don’t live too far which is great about living in a small community.

#3 Shopping and Restaurants

Here in Saugeen Shores we have quaint stores and great restaurants. We have fine dining and pubs to suit any taste. What we lack in quantity of these amenities, we gain in quality. Saugeen Shores is blessed with a local produce market, Hi-Berry Farms which is open from May-October. Here you will find all your fresh produce. Many local restaurants feature their produce on their menus. We may not have a mall in Saugeen Shores but we do have fabulous clothing stores to choose from. If you want more choices of restaurants and malls and things to do outside of this community, every large City is approximately a 2 hour drive away, whether that is London, Kitchener, Barrie or Guelph. We definitely encourage everyone to shop local, however, if you can’t find what you need, there is always Amazon so you won’t feel like you are missing out too much about shopping in the City.

#4 Winter

If you aren’t prepared, this could be a deal breaker for you but don’t let it be. I find the winter is just as much fun as the summer here. Yes the snow is horizontal here and yes you will be snow blowing or shoveling most of the winter but really, there are some pluses. We have miles and miles of trails where you can snowshoe or cross country ski. Lots of skidoo trails to take advantage of, ice fishing nearby and McGregor Point Provincial Park has an outdoor skating oval and Saugeen Shores has an area for indoor skating. You won’t be bored. Yes the roads tend to close here a few times during the winter and I may have missed out on a concert one year because of weather but it gives you an excuse to stay in, stay warm and relax with your family since no one is going anywhere anyway. Be prepared for a few hours a year of not having hydro due to wind and storms. If you have kids, nothing makes them more happier than a snow day!

#5 The People

The Best part of moving to Saugeen Shores is the People. I have lived in Saugeen Shores since 2007 and I am always amazed at the kindness and generosity of the people here. There are many local clubs for both adults and kids all run by volunteers who put in hours of their free time for the benefit of this community. With approximately 15,000 people in Saugeen Shores, it isn’t unusual to bump into people you know all that time. You will make life long friends in no time.

These are my 5 favourite things to do in Saugeen Shores but there is so much more to do. Check out my next video where I talk about families moving to Saugeen Shores and what there is to do for kids.

My 5 Favorite Things To Do In Saugeen Shores

Are you re-locating to Saugeen Shores and you are wondering, “what is there to do?”. In this blog, I will share with you my 5 favourite things to do in Saugeen Shores including reason #1 which is my ultimate favourite activity.

#5 Music

Here in Saugeen Shores, we are blessed with an amazing pool of talent. I am standing in front of Duffys in Southampton where they host open mic and karaoke which I have participated in from time to time. We have local pubs like The Wismer House and the Queens in Port Elgin that host amazing live music. Chesters has open mics on Tuesday nights. Blackboard Sound is a small music school and store located downtown and provides lessons for guitar and piano. There are local choirs like the Chantry Singers or Allegro Youth Choir as well as other music programs throughout the community.

#4 The Great Outdoors

The Great Outdoors – The Rail Trail is miles and miles of trails for hiking or biking, snowshoeing, cross country skiing. I live across the street from one of the trails and I walk it frequently all year round.. There are many access points throughout Saugeen Shores. If you enjoy snowmobiling, there are many trails available to you as well that will connect you to other communities. There is a bike path along Lake Huron from Port Elgin to Southampton where you will see plenty of lake views, luxury homes and sunsets along this stretch. The Saugeen River flows through our area and it is always a good time to canoe or kayak down the river. You can rent equipment from Thorncrest Outfitters and they will shuttle you down to your access points as well.

#3 Swimming

Here in Saugeen Shores, we are blessed with an amazing pool of talent. I am standing in front of Duffys in Southampton where they host open mic and karaoke which I have participated in from time to time. We have local pubs like The Wismer House and the Queens in Port Elgin that host amazing live music. Chesters has open mics on Tuesday nights. Blackboard Sound is a small music school and store located downtown and provides lessons for guitar and piano. There are local choirs like the Chantry Singers or Allegro Youth Choir as well as other music programs throughout the community.

#2 Pumkin Fest

Here in Saugeen Shores, we are blessed with an amazing pool of talent. I am standing in front of Duffys in Southampton where they host open mic and karaoke which I have participated in from time to time. We have local pubs like The Wismer House and the Queens in Port Elgin that host amazing live music. Chesters has open mics on Tuesday nights. Blackboard Sound is a small music school and store located downtown and provides lessons for guitar and piano. There are local choirs like the Chantry Singers or Allegro Youth Choir as well as other music programs throughout the community.

#1 Theatre

Theatre – Southampton is home to the Bruce County Playhouse. Here you will enjoy the local theatre productions that take place during the summer. This is #1 on my list of favourite things to do. There are also local community theatres in Owen Sound and Kincardine which I was lucky enough to be a cast member in 2020. I can’t wait to be back on stage! Owen Sound also has a Galaxy Cinema which has 7 screens.

These are my 5 favourite things to do in Saugeen Shores but there is so much more to do. Check out my next video where I talk about families moving to Saugeen Shores and what there is to do for kids.