Sonia's Real Estate Blog

What does it mean to get pre-approved for a home loan? Is this helpful? Is it something that everyone should do? These are just a few of the questions that people ask when they are starting their search for their first home or their third home. Anytime that you are looking to buy, having pre-approval is going to help you out immensely in the process. But, what is this and why is it so important?

What is Pre-Approval

When you are pre-approved for a loan, this is the amount of money that you are going to get for the home, car or whatever you are taking the loan out for. This pre-approval is like the golden ticket when looking to buy, as it gives you the exact knowledge of what you can and cannot afford.

Why Pre-Approval Is Important

Why is getting pre-approval so important? There are several reasons which include:

• Many sellers will not work with those who are not pre-approved. When trying to buy a home in a buyer heavy market, you will find that anything you can do to make your offer go through, you need to do. And having pre-approval is one of those things that you can do. This gives you a starting and ending point in terms of how much you can afford to spend on the item that you are getting a loan for.
• There are no surprises when you have pre-approval. You do not have to go through the process of finding a new home only to be told that this is out of your budget or that you do not qualify for this high dollar loan.
• Did you know that when you have pre-approval you can actually close on a house faster? In fact, it is estimated that if you have pre-approval, find a home, make an offer and everything goes as planned, you could close on a home within 30 days!

What Goes into Getting Pre-Approved

 In order to get pre-approved for a mortgage or any other type of loan, you have to provide your financial stability to the lender. This means gathering all the financial documents that prove how much you earn, your other bills and the like. You then find the lender that you are wanting to go with, or you can choose to go with a broker you will find you the best terms. You complete a loan application and then you later receive a pre-approval letter from the lender or broker.

This pre-approval letter is your golden ticket to making a deal with a seller on a home. This shows that you do have the finances to buy the home and are serious about buying.

For those who are in the process of wanting to buy a home, the pre-approval should be your first step. This will give you all the information that you need to help with the buying process, in knowing what you can and cannot afford. Not only can I help you find your next home, but I am a licensed Mortgage Broker with Invis in the province of Alberta. Let me help make your home buying experience easier, faster, and way more fun!! Sonia is your one stop shop for all your Mortgage and Real Estate needs!

Staging is a term that is often used by those who are ready to sell their home, as they want to ensure that they are making their home look as attractive as possible to those who are in the market to buy. Staging can be a difficult process, or it could mean making a few small changes that make all the difference in the world. What about staging a home with plants?

Staging a home with plants is a budget-friendly option for those who are looking to enhance the beauty of their home to any buyer. However, this does not mean that you should go to your local nursery and pick up whatever you see first. It does require some planning and tips to help make the most out of the plants that you place in the home.

The Benefits and Drawbacks of Plants in Staging

For those who are still on the edge about using plants in their staging process. Remember these benefits:

• They are cheap and can take up large amounts of space, providing you with something that is aesthetically pleasing at a low price.
• Plants give a home atmosphere and the feel that it has been nurtured and cared for.
• When a plant is placed in a home it also shows the potential buyers that there is enough natural light to foster the growth of a plant, thus this is not something that should be an issue.

However, there are some drawbacks. These drawbacks include:

• These plants require maintenance. If you do not maintain these, then dead plants are not going to help your home look better to potential buyers.
• These can be overused since they are cheap people tend to go overboard.
• Plants can create an odd odour in the home if you are not careful about what you buy!

Tips to Putting Plants into a Home

For those who are ready to stage their home with plants, here are a few design tips that can help!

1. Go to large department stores to get your plants, as they will be less expensive than if you were to go to your local greenhouse.
2. Buy low maintenance plants!
3. Do not use plants that are considered harmful to pets or children.
4. Place your plant in an area near artwork, as they often work well together.
5. You can also place plants outside near decks, patios or the like, as they can do wonders for your curb appeal.
6. Plants should be placed in an area of the home that feel as though it needs a little something.
7. Avoid plants that are like cacti, as they are often considered more work than they are worth for staging purposes.

Remember, plants can be a great way to stage a home on a budget. They breathe life into a home without having to spend a fortune to make it feel like home to potential buyers.

Want more information on staging your home for a successful sale? Get started today with a FREE home evaluation from Re/Max Elite’s #1 Agent in Edmonton & Sherwood Park (2017), Sonia Tarabay!