Buying a new pair of shoes is relatively easy. Once you find the style you like, all you need to do is try them on and see if they fit. If they do, you go to the cash register and pay.
When it comes to size, buying a new home can be trickier! Whether your intention is to upsize or downsize, figuring out the right size can be especially challenging.
Say for example, you’re downsizing from a large two-story home to a smaller bungalow. You don’t want to underestimate the space you need and end up in a place that feels tight. If you’re going the other way and upsizing, you don’t want to end up sinking extra money into a property that’s larger than you really need.
So how do you avoid these scenarios?
One of the best ways is to start by considering your current home. Do you use all the rooms in your home regularly? Is there a bedroom that’s rarely occupied? Has the recreation room become simply a storage area? If you’re downsizing, subtracting rooms you scarcely use can give you a better idea of what you need in a new home.
Upsizing is a bit more challenging because you have to anticipate what you will need in the future. For example, if you have young children, and your place is feeling cramped, then a home with a recreation room or separate family and living rooms may be a good idea. You may also need a bigger kitchen with a spacious eating area (in addition to a separate dining room.) Think about the extra room you’ll need and how you’ll use that space.
When I work with a client, I typically sit down with them and discuss the type of home they want in detail — and, based on needs and circumstance, I make expert recommendations. Bottom line, I help clients find the perfect fit in a new home. Contact me if you’d like to learn more.
TORONTO, June 5, 2017 – Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 10,196 sales through TREB’s MLS® System in May 2017 – down by 20.3 per cent compared to 12,790 sales reported in May 2016. Sales of detached homes were down by 26.3 per cent. Sales of condominium apartments were down by 6.4 per cent. The supply of listings was up strongly over the same period. Active listings – the number of properties available for sale – at the end of May were up by 42.9 per cent compared to the record low a year earlier. The number increased considerably for low-rise home types including detached and semi-detached houses and townhouses. Active listings for condominium apartments were down compared to May 2016. “Home buyers definitely benefitted from a better supplied market in May, both in comparison to the same time last year and to the first four months of 2017. However, even with the robust increase in active listings, inventory levels remain low. At the end of May, we had less than two months of inventory. This is why we continued to see very strong annual rates of price growth, albeit lower than the peak growth rates earlier this year,” said Mr. Cerqua. Selling prices continued to increase strongly in May compared to the same month in 2016. The MLS® HPI Composite Benchmark price was up by 29 per cent year-over-year. The average selling price for all home types combined for the TREB Market Area as a whole was up by 14.9 per cent to $863,910. Year-over-year price increases were greater for condominium apartments compared to low-rise home types. This likely reflects the fact that the low-rise market segments benefitted most from the increase in listings. “The actual, or normalized, effect of the Ontario Fair Housing Plan remains to be seen. In the past, some housing policy changes have initially led to an overreaction on the part of homeowners and buyers, which later balanced out. On the listings front, the increase in active listings suggests that homeowners, after a protracted delay, are starting to react to the strong price growth we’ve experienced over the past year by listing their home for sale to take advantage of these equity gains,” said Jason Mercer, TREB’s Director of Market Analysis.
Need more information on your particular street or neighbourhood, please text me, email me or call me and I will provide complete information for you.
Decorative moulding is one of the most eye-catching ways to upgrade a room. You’re probably accustomed to seeing standard baseboard moulding installed where your floor meets the wall. But, there are many other types. For example:
• Crown moulding for ceilings.
• Panel moulding for a southern colonial look.
• Chair rail moulding, which is very distinctive on walls.
• Apron moulding for window sills.
• Entablature moulding for above doorways.
Decorative moulding comes in a dizzying array of styles. Interior designers recommend taking home samples, just as you would take paint swatches, to test out ideas.In addition to style choices, you also need to select the material you prefer.
Moulding can be made of wood, plaster, laminate, composite, fiberboard, vinyl and other materials. There are pros and cons to each. Generally, the higher-priced options are more attractive and durable. (If you select wood, you typically have the additional option of “finished or unfinished”. If you choose unfinished, you of course, will be painting it yourself.)
Choosing the right moulding for the look you want is the toughest part of the job. Installation is a lot easier and most people with DIY experience have no problems. So if you want to add some magic to your walls, consider decorative moulding. It can turn a room from standard to stunning.
This report should give you a fairly good idea of what is happening in the Real Estate Market. To help you make an educated decision, I just wanted you to be aware of the market trend.
This year's report focuses on Connecting to Affordability and provides a review of the market in 2016 as well as a look forward into 2017, tackling top-of-mind issues, including consumer intentions for the coming year, foreign buying activity in the Greater Toronto Area, the impact of transportation infrastructure on housing affordability, and the lack of housing supply. Click the link below to read the stats.
A pantry is the ideal nook for storing extra food and other items ordinarily crammed into the kitchen. It’s also a nice design feature, as it harkens back to the days of country kitchens with spacious pantries. You might be thinking, “That’s nice, but our home doesn’t have a pantry.”
That’s okay. These days, there are many ways to create a pantry in your home – even if it doesn’t have one! Here are just a few suggestions:
• Add shelves to the laundry room. If you have the space, this is the ideal place to create a mini-pantry.
• Purchase a portable pantry. There are many available on the market. Some are even disguised as cabinets you’d expect to see in living and dining rooms.
• Purchase a movable pantry. These units are on wheels and can slide in and out of the kitchen with ease. Some are short enough to slide conveniently under a kitchen table.
• Make use of an unused closet. These are rare in most homes, but if you have a closet that isn’t being used, it can easily be converted into a pantry.
As you can see, there are plenty of options available. You don’t necessarily need to build an extra room!
Every four years everyone in the city who owns a property will be receiving a tax assessment letter. The Municipal Property Assessment Corporation(MPAC) is updating the assessed values of every property in Ontario. From May 27 to June 6, residential property owners in Toronto will be mailed a 2016 Property Assessment Notice.
The Notice you received from MPAC states the current value of your property as of January 1, 2016. This value is used by the City to calculate their taxes for the 2017-2020 property tax years. For the 2016 Assessment Update, MPAC uses a January 1, 2016 valuation date to determine the value of what a property could have reasonably sold for on January 1, 2016.
This is not necessarily the market value of your home. The assessment value is a comparative snapshot, used by municipal governments to determine how much you will pay in property taxes.
As your Realtor, there are two ways that I may be able to help you:
1) Disputing your Assessment Value
If you believe your assessment is inaccurate, I can provide you with all the previous sales and listings in your neighbourhood and help you determine what the true assessment value should be.
2) Discovering Current Market Value
If you would like to know the current value of your home for today's real estate market, please call or email. I would be happy to conduct a market analysis on your home and provide you with a realistic price.
I am committed to being your real estate resource. If I can be of any assistance to you, please don't hesitate to be in touch.
Contact me via email, by phone or on social network. I am available to answer all your concerns.
When you make an offer on a home, it’s a smart idea to have a professional home inspector check it out from top to bottom. This inspection will ensure that the property doesn’t have any unexpected “issues”. After all, you don’t want to buy a home only to discover that the roof needs to be replaced, immediately, for thousands of dollars.
That being said, you might question whether you really need to invest the few hundred dollars it costs for a professional home inspection. “The home we want to buy looks like it’s in very good shape,” you might be thinking. “I can’t see anything wrong with it.”
However, a professional home inspector can see things you can’t. When you view a property that’s on the market, you might be able to notice obvious issues, like a crack in the foundation or a dripping faucet. If you’re experienced with home maintenance, you might even notice roofing tiles that look like they’re overdue for replacement.
But you won’t pick up all the issues a home inspector can.
A home inspector will, for example, use a special device to check for moisture build-up in the washrooms – which can be an indication of mould. He or she will also inspect wiring to make sure everything is safe and compliant with the building code.
That’s not all.
Like a determined detective, a home inspector will investigate the property’s structure, electrical and plumbing systems, insulation, and other components — and then report the findings to you.
In the end, a professional home inspection gives you peace-of-mind and protects your investment. So getting one is highly recommended — even for recently built homes.
A good REALTOR® can recommend a trusted home inspector for you.
Looking for more ideas on making smart decisions when buying a home? Call today.