of Lloydminster

Your Community Minded Realtors

Contact Us Anytime

Office: 780-808-2700
Toll Free: 866-666-2700

RE/MAX Of Lloydminster
5726 - 44 Street
Lloydminster, AB
T9V 0B6

"each office independently owned and operated"

A lot of emotions are involved when preparing to apply for your first mortgage, including excitement, apprehension, joy, and dread. If you do the necessary preparation before diving into the home-buying process, you will experience less stress and fewer concerns. Things have changed since your parents bought their first home, and it's important for the current generation of buyers to perform the necessary groundwork for a great buying experience.

Financing Your First Home

Your credit report plays an important role. The moment the phrase "our own home" drifts through your mind is the time to start preparing. Unless you have perfect credit, the first step in the process is improvement. You are entitled to receive one free credit report annually from the major credit agencies. Requesting one report every four months allows you to monitor your credit all year. The following suggestions provide ways to clean up your credit history.

  • Stop applying for new credit, and keep balances low and current on any credit cards you have. Be sure all payments are made on time.
  • If you have store cards, charge small purchases only when necessary, make payments on time, and pay the full balance each month. Late payments and accounts turned over for collection have a negative impact on your credit score.
  • Get rid of small "nuisance" balances spread over several cards. One of the considerations when your score is determined is the number of cards with balances. Pay off all the small balances, and just use one or two cards for all your credit purchases.
  • Don't worry about good "old" credit on your report. It's beneficial for a potential lender to see good payment habits are practiced.
  • Don't miss a single payment, and don't increase the amount you normally charge. Lenders like consistency, and they look at frequent habit changes as risky.

Get pre-approval before you go househunting. Talking with a mortgage broker to find out how much you can afford before you go househunting will keep you focused on shopping for homes within your price range.

If you follow these suggestions and prepare before you apply for a mortgage, buying a home for the first time doesn't have to be scary.

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Selling your home can be intimidating, especially if your property is more than a decade old. Tastes are always changing, and many homeowners think they will need to make major changes to attract a buyer. While installing a brand new bathroom or updating your kitchen might indeed be effective, you do not have to spend a fortune to make your home more attractive. These simple and inexpensive updates will get the attention of buyers and may help your home sell more quickly.

 Changes to sell your home faster

  • Update your power outlets with USB ports. Young tech-savvy couples are increasingly looking for wired homes, and adding USB ports is a great way to keep up with the trend.

  • Add mirrors or stainless steel accents to the backsplash in your kitchen. The room will look larger, airier and brighter.

  • Give your trim a fresh coat of paint. Nothing brightens the exterior of your home like freshly painted downspouts, doors and exterior trim.

  • Clear out the clutter. Cleaning out the garage, closets and other cluttered areas will make your home look larger and more inviting. If you have old magazines or newspapers on your coffee table, get rid of those as well.

  • Make your home smell fresh and clean. Nothing turns off potential buyers like unpleasant odors. Banish pet stains and odors with enzyme-based cleaners, and avoid cooking onions, Brussels sprouts and other aromatic foods the day of a showing or open house.

  • Bake some cookies. It might seem like a cliché, but baking a fresh batch of cookies can make the property more appealing on a subliminal level. If nothing else, you will have a sweet treat to share with potential buyers.

  • Give your floors a good scrubbing. If you have carpets, make sure they are attractive and freshly cleaned. If you have hardwood floors, make sure they are clean and well polished.

  • Update your cabinet hardware. You do not have to splurge on new cabinets; simply replacing outdated, dented or worn out door pulls and hardware can spruce up your kitchen or bath.

  • Install a closet organization system. Adding new shelves and storage units to your closets will make them look larger and help potential buyers picture their clothes hanging there.

  • Remove and replace outdated wallpaper. Wallpaper is a big turnoff for many modern buyers. Removing it and putting on a fresh coat of paint will make the rooms look brighter and more attractive.

  • Show off your bathroom. Make sure the towels are fluffy and freshly laundered before each showing. A container of scented soaps and a jar of potpourri are also great ways to spruce up the room.

  • Spruce up your landscape. Weeding your lawn and garden does not cost a penny, but improving the landscape and curb appeal can add 10% or more to the value of your home. Look at your landscape with a critical eye - then get to work.

  • Bring in the greenery. Updating the interior landscape can be just as valuable. Choose vibrant green plants to make your home look fresher and more inviting. Top it off with a basket of fresh flowers on the dining room table.

If you are thinking of selling, let us help guide you through the process. Contact Us Today!
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The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.
MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.