1. Find the Right Real Estate Agent:

An agent can be your most valuable asset. Word of mouth is good, but if you’re interested in a particular location take note of sold signs in the area to find a real estate agent who has special knowledge of the neighborhood.

2. Make a List of Needs and Wants:

Prioritize them because you likely won’t find a house with everything. Lenders, agents and the Canada Mortgage and Housing Corporation have online checklists that will help you focus on the important things.

3. Define What Value Means to You and Your Family and Follow Through:

If you believe you’ve found the right neighborhood, don’t just proceed with an offer. Make personal visits on different days and times. Talk to the neighbors and research the facilities and schools in the area.

4. Look Closely at the Boring Things:

Updated wiring in an older home is a great plus, and a basement that’s been flood-proofed is all-important in certain areas. However, that shiny, new siding you see could be hiding a not-so-new problem.

5. Energy Efficiency:

Power is only going to cost more in  the future, so look for an energy-efficient home. Some homes have an energy rating tag on the electrical panel. Look for a high rating. If there isn’t a rating tag, ask to see previous utility bills.

6. Don’t Overbuy for the Neighborhood:

Sellers may feel their $100,000 kitchen renovation should net them a 90% return, but if the neighborhood comprises modest 1970s bungalows with small kitchens, you may have trouble getting back the premium you paid when it comes time for you to sell.

Before you buy, however, you might want to answer the following questions:

How Far Away Is It? If you must travel two days by rail, then take a four-hour hike through the woods with a toddler strapped to your back, you may want to seriously reconsider the purchase. Ideally, you should be within a few hours of your home. If electricity is a serious consideration, you should make it clear to your real estate agent that you are not interested in properties off the grid.

How Close Are the Neighbors? Buyers typically want a private retreat as they’re trying to get away from the crowded urban sprawl. It’s okay to have neighbors as long as the surrounding trees give a reasonable illusion of privacy.

Is It Worth It? As a buyer, you must determine whether the value you’re paying is worth the return for your family. There are annual property taxes and insurance as well as the cost of upkeep to consider. Many buyers consider renting the property out for some additional income. However, there may be tax implications to renting your home, so seek professional advice from your tax advisor

By taking a good, hard look at the travel requirements, the modern luxuries and the financial aspects of rural home ownership, the dream of spending peaceful summers at the cabin can come true.

1. Make Your Kitchen or Bathroom Sing: A sparkling up-to-date kitchen or bathroom with high-end materials, lots of moving-around room and a neutral color scheme will net you a return of between 75% and 100%.

2. Change Up Your Surfaces: Painting the inside or outside or both is an inexpensive fix with a big payback of 50% to 100%. Even better, replace the siding. It’s an excellent way to add value to your home.

3. Install Hardwood Floors: Some experts say you’ll get a return of  only between 50% and 75% for taking up the old carpeting and laying down hardwood or high-end laminate, but anecdotally real estate agents say clients are looking for hardwood and  that old, stained carpets may be a deal breaker.

4. Renovating the Unglamorous: Replacing a furnace or roof actually pays off big-time, with a return of 50% to 80% of your investment.

5. Add-ons: Make the attic into a bedroom to die for, or add a family room. You could get back 50% to 75% when you sell. Turning an unused room into a home office can also raise the value of your home in the eyes of potential buyers.

6. Outdoor Living: Buyers are looking for beautiful outdoor spaces. The addition of a deck alone can net you a 50% to 75% return. A sunroom can also add square feet to your living space, but don’t forget to make the transition between indoors and outdoors positively seamless.

7. Pay Attention to the Don’ts: Don’t follow the latest trend when planning your renovation. Go for timelessness in paint, fixtures and countertops. But don’t add a $100,000 kitchen to a $250,000 house and expect to recoup your investment. A renovation that suits your house and is done well with quality materials will make your family happy while adding value for future buyers.

Experience: One of the biggest benefits of working with a local real estate agent is the level of experience brought to the table. Agents make it their business to know upcoming changes, the latest listings and even important trends that can influence your purchase.

Excellent Service: From skilled negotiations to compiling a list of prospective properties, real estate agents save time and money throughout the entire transaction. The average real estate agent is often able to negotiate substantial savings from the price of a home while increasing the ability of both parties to obtain the most meaningful milestones.

Education: The real estate market has undergone dramatic changes in recent years, with many more on the horizon. Real estate agents must take a specified number of continuing education credits every year to remain up-to-date on legislative changes and other procedures.

Expert Advice: Real estate agents do more than just list homes on the Multiple Listing Service. They also act as experts within the local market. In fact, the more specialized the type of property, the more important an agent tends to become. From condominium to commercial building, farm or single-family home, it’s essential to obtain advice provided by a reputable agent.

Following are some important questions to ask:

Home Long Have You Been Working in the Field?

An inspector should be able to provide references and a history of experience. It’s also important to know about his or her background.

What Experience Do You Have With Residential Inspections?

A background in engineering or construction is a bonus, but if the inspector has never worked on a home, it won’t help much.

How Much Time Does an Inspection Take?

A thorough home inspection should take between two and three hours, depending on the size of the home.

Special considerations need to be taken when looking at wood-burning fireplaces and swimming pools.

What Will the Inspection Cost?

The cost of the average home inspection is $300 to $500, depending on the region, size of the home and the complexity of the building systems that are used.

What Type of Inspection Report Is Provided?

Some inspectors provide a big binder full of information, but if you don’t understand the report, that information is essentially useless. The report should be clear and help guide your final decision to purchase the home.

Do You Belong to a Home Inspection Association, and Do You Attend Continuing Education Courses?

Building technologies are constantly evolving, so an inspector should be educated to assess all aspects of a home, regardless of its age.

Membership in an organization like the American Society of Home Inspectors means the inspector has been certified and approved by that organization

It can also leave homeowners with a few more gray hairs.

First, home sales require complex legal documentation. There are many templates to use, but they skim only the surface of the legalities.

Often the best way for an owner to deal with this issue is to have a lawyer draw up the paperwork after the rough details have been worked out with a potential buyer.

Second, finding a qualified buyer can be difficult.  Agents typically ensures that potential buyers are qualified to buy the property before they cross your doorstep.

Mortgage pre-approvals and extensive consultation typically ensures that the buyer is serious before a showing takes place.

Homeowners have limited access to a potential buyer’s financial qualifications before the sale.

Third, you must assess whether you have the ability to market your home and court potential buyers.

Real estate agents insulate the seller from direct contact with a potential buyer, reducing the emotion involved in the sale.

Using a real estate agent can seem more costly than selling a home on your own, but sellers need to measure whether they are prepared to invest their time and energy into the sale of their home.

But there are a number of things to consider before you take the plunge.

Location is one of the big factors.

Even in a down market people are willing to pay more for a home when the conveniences and other features indicate a favorable property.

Check out the conveniences and ask yourself some questions. Is the neighborhood safe? How about the schools? Are they among the best?

Real estate agents used to provide buyers with information about crime and whether the home was in a safe neighborhood, but that may now be more difficult to come by as the National Association of Realtors warned in a recent issue of Realtor magazine that agents should not disclose crime statistics, state that a neighborhood is a safe place to live or mention anything about the quality of the schools.

Why?

Agents must not violate Fair Housing Act steering guidelines. Agents are now suggesting that clients contact police for crime data and set up personal visits to schools for their quality performance data.

Some other things to think about include:

Noises and Smells: Are sounds from trains audible at bedtime? What about fire truck and ambulance sirens? Is freeway or factory noise constant? Are odors from a landfill obvious?

Construction: The city will know if planned roads and open land developments are acceptable.

Be Observant: Is the street a main thoroughfare for kids and teens, especially after school? Chat with neighbors if possible. A walk up and down the street will reveal barking dogs, and too many cars parked in driveways may indicate renters who don’t take pride in maintaining their properties. At night, watch out for drag racers and/or band rehearsals.

A CMA is typically done by a real estate agent with extensive experience in the property type and location. A careful evaluation of the parcel is done to assess the condition, amenities and unique status of the specific property in comparison with others in the same vicinity. To obtain the best CMA, it is necessary to work with a qualified real estate professional who knows and understands the location.

How It Benefits the Buyer

A CMA helps the buyer differentiate unique aspects of the property so it can be compared with other potential properties in the immediate area. By weighing price, amenities, location and other variables, the buyer is more informed and able to support fiscal and other factors involved in the purchase.

How It Benefits the Seller

An important aspect of selling a property is the ability to price it right. A CMA alerts sellers to comparable properties and helps set an entry price point. Aggressive or highly motivated sellers would want to list their homes at the lower end of the spectrum, while others may take a more leisurely approach by pricing at the higher end but appealing to specific amenities.

1.  Does the Sales Price of the Home Place It Into the Luxury or Jumbo Mortgage Range? If so, there’s a good chance you’d benefit from hiring a home stager. Not only is the competition among higher-priced homes even more dramatic than  it is in affordable areas, but potential buyers expect to be impressed.

2.  Does the Property Have Problem Areas? For example, older homes may have eight-foot flat ceilings, smaller bedrooms and other age-related amenities that have fallen out of favor. Hiring a professional problem-solver is a good investment to ensure that you obtain top dollar for your property without breaking the bank.

3.  Was the Property a Cookie-Cutter Model? This is a commonly encountered problem for condo owners and for those who own properties in modest single-family, tract-built neighborhoods where there is limited variation to differentiate one property from another. The challenge is to stand out from the crowd in order to attract attention and seal the deal.

The bottom line here is that in a tough buyer’s market the benefits of hiring a home stager far outweigh the cost.

Home sales often occur at a fast pace, leaving little time to check for such problems. But it’s important to do so in order to avoid difficulties afterwards.

Radon is a cancer-causing gas that has secretly infiltrated millions of homes in the United States. The Environmental Protection Agency (EPA) estimates that it causes thousands of deaths each year.  The Surgeon General reports that only smoking is a greater cause of lung cancer.

Radon gas testing is rapidly becoming a common component in the home inspection process.

Radon is a naturally occurring gas which results from the breakdown of uranium, which is found in nearly all soils.

This radioactive gas typically moves up through the ground, penetrating cracks and openings in your home. Radon can be present in building materials or can infiltrate the home through the groundwater; however, these issues alone are often not enough to cause a substantial radon gas problem.

Testing for radon is relatively easy and inexpensive. Home kits are available for those who want to do it themselves. They are easy to use and accurate. The alternative is to hire a company to test your home or a home you are thinking of buying. The most common method of testing involves the placement of a device in the home for a period of two to 90 days.

Annual testing may be required for homes with a marginal gas reading, as levels fluctuate.

As there’s no known safe level of radon gas, certain upgrades can be made to a home to reduce the levels.

A soil suction radon prevention system uses a vent pipe system with a fan installed to draw radon gas from beneath the house and send it to the outside.

In addition, the foundation, crawl space and other cracks leading into the home should be sealed to reduce the amount of gas seepage.