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Cleaning out your house, basement, garage??

Mon, 15 Jun by Pauline Relkey

I just had my first experience with Redi-Bins Regina. Troy was an absolutely great guy to deal with. Quick response to phone calls and texts. Great explanation of the different sizes of bins and even a calculator on their website www.RediBinsRegina.ca to know what size of bin you need.

Who would have thought garbage was fun!

Check them out at 306-570-2467. Locally owned family business and that’s what it’s all about – supporting your community.

They service in and near Regina from Southey to Fort Qu’Appelle to Indian Head to Milestone to Rouleau to Bethune to only name a few.

41% of homebuyers would go over budget by $25K for the perfect home

Mon, 08 Jun by Pauline Relkey

I remember when I first started in real estate in 1991, someone told me that buyers would, on the average spend $15,000 more than they anticipated on a home purchase.  Back then, I thought that was a lot of money to extend your budget for house buying, but I have seen it happen more and more.  We usually have a picture in our mind of what we want, including price, and that can easily adjust and change as we start our search.  The more flexible you can be when looking to buy a home, the more choices you will have.  There are ‘needs’ in buying a home, that shouldn’t be compromised (for instance, not spending more than your maximum qualified price, number of bedrooms, location, garage) but the’wants’ (ensuite, fireplace, certain flooring or kitchen, etc) can be changed later.

In this recent study, although 80% of home buyers consider price to be the most important consideration of a purchase, 41% were willing to go above budget by an average of $25K for the perfect home.

There are many factors to consider when buying a home. And, although 80 percent of home buyers consider price to be the most important consideration of a home purchase, 41 percent of home buyers also are willing to go above budget by an average of $25,000 for the perfect home.

1,794 homeowners were surveyed between February 28 and March 6, 2020 who had all purchased a home within the last five years to learn what they desired most in a home. Survey respondents were an average of 38 years old, and 63 percent were married, 22 percent were single, 8 percent were engaged, 6 percent were divorced and 1 percent were widowed.

After home price, location, neighborhood, the size of the home, and the home’s layout were the most important factors in making the decision to buy.

Buyers spend an average of 4 months conducting a home search and view an average of 19 properties before deciding on the one. Remember this includes the online searching and viewing.

Most home buyers use a real estate agent to help them with their home search, with 51 percent opting to enlist an agent’s aid. Thirty-eight percent of home buyers shop for their home online while 11 percent find their home just by passing it on the street.

In terms of home features, buyers are most concerned with the home’s layout, with 71 percent of survey respondents reporting that layout was the most important home feature. Storage space (59 percent of respondents), an outdoor living space (57 percent), a large kitchen (53 percent) and having an updated kitchen (53 percent) were also important features for home buyers.

While most of us would like to buy our perfect home, it’s not always feasible. One in three survey respondents reported compromising on some part of their home purchase, usually because of budgetary restrictions.

Most often, home buyers opted to compromise on layout or the age of the home or repairs needed, with 29 percent of survey respondents compromising on these features. However, 26 percent of buyers compromised on home size, 23 percent compromised on having an updated kitchen, and 19 percent compromised on having updated bathrooms.

Out of the one in three survey respondents who reported backing out of buying a home, most did so because something was found during the home inspection (34 percent) or because they changed their mind about the home (29 percent).

Over half of home buyers stated that the home’s age or necessary repairs were the biggest deal breakers, while others said home size (40 percent), neighborhood (37 percent) and school system (20 percent) were their biggest deal breakers when considering whether or not to buy a home.

 

More than half of home buyers likely to buy a home within next year

Mon, 08 Jun by Pauline Relkey

I know. I can’t believe it. I just read this in a report from Inman, a real estate news company for realtors and brokers. They said 53% of home buyers say they now plan to buy a home within the next year as a result of factors surrounding the pandemic, according to online lending marketplace LendingTree.

The corona virus pandemic has significantly altered the home buying process, and now there’s evidence that it’s also impacted how quickly buyers want to seal the deal.

More than half of home buyers (53%) say they now plan to buy a home within the next year as a result of factors surrounding the pandemic, according to a new survey conducted by online lending marketplace LendingTree.

Between April 24 and April 30, LendingTree enlisted Qualtrics to survey 1,006 prospective homebuyers with a sample base proportioned in line with the general population.

The pandemic has especially spurred first-time home buyers into action with 73 percent now planning to buy a home within the next year. Likewise, millennials are also now more motivated to buy in a timely fashion, with 66 percent aiming to buy within the next 12 months.
Most buyers cite wanting to take advantage of current low mortgage rates as a specific reason for wanting to buy soon, with 67 percent inspired by this reason. Most other respondents said they plan to buy in the next year because they’ve been able to save more money as a result of reduced spending during quarantine (32 percent) and because home prices have dropped (30 percent) — a factor that can’t necessarily be applied to every region of the country right now.

The coronavirus crisis has moved 44 percent of home buyers to buy a less expensive home than they had originally planned, compared to 21 percent who said the pandemic has made them want to purchase a more expensive home.
LendingTree’s survey also found that the vast majority of home buyers have either already toured a home virtually (61 percent) or plan to do so (33 percent). However, only 3 in 10 buyers said they would buy a home without doing a walk-through in-person. Still, among first-time home buyers, 53 percent said they would buy a home without seeing it in-person. Across gender lines, only 16 percent of women said they’d buy a home without seeing it in-person in contrast to the 43 percent of men who would buy a home sight unseen.

Perhaps as a result of lenders tightening minimum requirements for lending, 44 percent of home buyers are more concerned about qualifying for a mortgage in the wake of the pandemic. In particular, first-time buyers (58 percent) and millennials (52 percent) are especially worried about qualifying.

Out of those buyers who said they were less likely to buy a home within the next year because of the pandemic, 70 percent said the current economic uncertainty was their main reason for waiting things out. The next most frequently cited reasons for waiting to buy included the inability to see a home in-person (42 percent) and a loss of income as a result of the pandemic (38 percent).

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Association of Saskatchewan REALTORS®.
MLS®, Multiple Listing Service®, and the associated logos are all registered certification marks owned by CREA and are used to identify real estate services provided by brokers and salespersons who are members of CREA. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.