This Months Real Estate Insider Newsletter

It’s normal to be cautious when you’re shopping for a home because a house is a huge investment, and you want to be sure that you’re making the best decision possible. But how will you know that you’ve found the right property for you? Some people have instincts while others may need more convincing. Below are some indicators that can give you an idea that you found the one.

7 Ways to Know You’ve Found the Right One

• The house embraces you the moment you enter – You’ll know within about five seconds of entering whether the house makes you feel warm and comfortable. Does it speak to you? Does it invite you to explore? Does it feel like home? If so, it probably is.
• You feel defensive about the house – Maybe your agent points out a flaw or two and says, “There’s a stain in the kitchen sink” or “the sink needs some repair.” It could be a sign that you like the house if you find yourself getting defensive, sort of like the place is already yours.
• You begin to envision the furniture arrangement. This might be your house if you walk into the master bedroom and can immediately envision your bed against a particular wall. You’re already hooked if you find yourself thinking that the living room window is a perfect spot to put an instrument – a drum set or a keyboard.
• It checks the most important boxes – The property might not have everything on your list, but it meets the basic requirements. Maybe it has the number of rooms and space you need. Sudden urges to be flexible are a good sign that you’re in the right place.
• You want to stop looking at other homes – All the other homes you’ve been looking at no longer appeal to you. You compare each new property you visit to this one, and you like this BEST.
• You can’t wait to brag about it – Did you already snap a few photos and post them on Instagram? Did you text your mom about the house or hop on that group chat to tell your friends? You might have found the one if you’re feeling excitement after your first tour of the place.
• You’re already planning to go back and check for the neighbourhood – If you got in the car, chatted with your spouse, and immediately planned your next visit to the property and neighbourhood before you even left the driveway, then this is the ONE!

Are you feeling these signs already? Then you might be ready to welcome yourself to your new home.

A home is a long-term decision. Be passionate…

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You can earn passive income to offset or even cover your mortgage. Although that might sound like a pipe dream, it’s actually possible. In fact, with some ingenuity, you can earn passive income that covers your mortgage and have some extra money.

Here are five ways you can turn your home into a money-making machine.

1. Rent out your lot – If you have a large lot or space, you can make money by renting it out to tiny house enthusiasts. You can even charge more if you can offer amenities like electric, septic, or water
2. Rent out parking spaces – If you have a seldom-used garage or an empty reserved parking space, you can choose to rent out your space on a daily basis.
3. Let people store their items in your home – Storing extra stuff can be expensive. Budget-conscious renters looking to save money try to find alternatives. If you have an unused shed, spare bedroom, or closet, you can turn that empty space into regular, monthly income.
4. List your home on Airbnb. I know, the pandemic crisis is on the air but after all of these are done, you can rent out that space for a few nights a month to make extra income. Cost-conscious travelers are increasingly skipping hotels for budget-friendly rentals through sites like Airbnb.

Since you already made a huge investment by buying a home, it makes sense to use it to earn more money. Consider using one (or more) of these strategies to earn a regular income.

The problem with buying a house, especially when you are too excited to go through the process is that you forgot to research the neighbourhood!

First things first.

• Do web research – you can google and have thorough research on that city or town to see if what kinds of people are living near that address.
• Talk to your neighbour’s – Do not be afraid to talk with the neighbours before you buy a home. This will not only give you a chance to meet them but neighbours will often disclose facts that a seller might forget to mention.
• Scout the neighbourhood for at least six times. In the morning, in the afternoon, and most importantly, at night – there are a lot of things that can happen during night time that can’t be observed during the day. It really helps to know what is happening when the sun is down. First looks can be very deceiving and never base your opinion on the first thing you see.

Not only will bad neighbours lower your home’s value and make it harder to sell, but they can also make your home life miserable. So I hope this helps and good luck with the home search and stay healthy!