Prominent Terminologies Used During Real Estate Dealings

House hunting for the first time can be exciting but sometimes it can be stressful and a confusing process. A major milestone lies behind purchasing a home at any place like Burnaby. Hire a real estate agent in Burnaby B.C. who will take care of your interests and not just think of its personal benefits.

Purchasing a home is a major milestone that is on the list of many people’s to-do-lists and they have financial fear too. You can take control of home buying process with time, care and research. There are some terms related to this process, when you consult a real estate agent for the buying or selling process.

• Super built-up Area: This area is the saleable area as the per sqft rate affixed by the developer is based on this area of all the common amenities like lobby, lift shaft, staircase, garden, gym etc.

• Built-up Area: It is also known as base area. The area under this is the total of carpet area and thickness of the walls in lobbies, lift area, basement, staircase etc. Usually this area is 15-20% more than the carpet area.

• Carpet Area: The area that the buyer of the flat actually gets to use is the carpet area. The floor space available within the inner walls of the flat is for the use of the owner.

• Floor space Index: Floor space index is the ratio between total built up area of the building to total area on plot which is allowed by civic body.

• Premium FSI: The additional built-up area constructed over and above the normal allowable. When the individual pays a premium to the authority, permission is granted and normally done in areas where land prices are very high. This allows the builder to better utilize space and provide adequate value to the buyer.

• Guideline Value of Land: Value of the land is the land as determined by Govt. on which stamp duty and registration fee is payable. This may vary with market value that is determined by certain factors. It is calculated based on facilities and infrastructure and is periodically revised.

All these terms may be explained by some agents but prior knowledge is important. 

Important Things To Remember Before Putting Up Your House For Sale

Are you planning to put up your house for sale? The purpose of putting up a house for sale differs from family to family. There are some people who want to move to another city and others plan to move on to better homes. To sell and buy the homes, you need to find the best company in the real estate market.

There are many things that you can’t ignore when planning to sell your home. To get the real value of your property, it should be well maintained, enhancing the curb appeal of your home. While putting up Houses for sale in Burnaby BC, you must follow the below-mentioned aspects.

• To give the new look to your property, it is necessary to repaint your home. To fill the cracks and holes, use the proper plastering.

• It is usually seen that the unwanted clutter gathers on the walls and doors because of long term exposure to weather. This waste should be cleaned because the buyers always look for the presentable homes.

• Renovation of windows, ceilings, and carpets is very essential to add an extra value to the beauty of your home.

• Some areas like bathrooms and kitchens are the most frequented areas that demand a lot of cleaning as well as repair work. Always check whether all the appliances are working properly or not?

• Before putting up a house for sale, an individual must be aware with all the marketing strategies. Try to conduct the simple inspection in order to rectify the smallest defects in your property. As a responsible seller, it is your prime duty to sell the property in better condition.

• All the photos and ornaments should be removed before a buyer pays the visit to see your property. Ask your friends, whether they are inclined to buy your property.

No one can help you to get the best price of your property as the real estate companies can do.

Get The Best Deal For Your Dream Home

Homes for Sale in Burnaby, BC offer you a number of choices and you can get the home of your dream at a very affordable price. You easily get the several options to pick what you want, like a luxurious home and a penthouse.

Either you want to buy or sell your home, an advertisement in the homes for sale section of the website can help a lot. The following tips can help a lot if you plan to sell your home:

   

• You should be aware that oversupply bring down the prices as there are more homes for sale than buyers.

• The selling price of your home depends on the location and condition of your home. Listing pricing is very important, neither it should be overpriced or under-priced.

• The housing market gets easily affected by the seasons as it improves during spring and comes down in winter.

• A little research is required to set the realistic price of your property as per the  current trends in the real estate market.

• If your property needs repair work, then make sure it will pay back. Expensive renovation helps to raise your price beyond the market price.

Hiring a company, offering the best real estate services can help you to get the best home deal as per your needs. You can make your offer depending upon various factors such as:

• Repair work of the home
• Legal Review
• Inspection
• Survey of the Property

Before you invest your money, online websites are the best option to study the home buying and selling market trends. Make a list of your requirements and budget in your mind. Everyone wants the following characteristics in a realtor:

• Experience

• Education

• Honesty

• Communication

• Negotiating

You must be aware about all the recent trends in the real estate market because there is a lot of money at stake when you plan to buy or sell your property. It is a very big investment. Only an intelligent decision can make you profits.