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Maya Garg
Broker

Royal LePage Signature Realty, Brokerage
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WHAT TYPE OF NEW HOME ARE YOU QUALIFIED TO BUY?
Posted on Thu, 07 Jun 2018, 04:05:00 PM  in Home buying tips,  My services,  Home Decor-Home Staging
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PROPERTY TYPE

When you think about looking for a new home,one of the first questions that probably comes to mind is: "What type of property can I afford?"That's an important question because your price range is a major determining factor in the types and sizes of homes you should be viewing.

You don't want to waste time looking at properties that are beyond your price range. At the same time, you don't want to purchase a less-than-ideal home, only to realize later on that you could have afforded more.

So how do you determine what type of new home you are qualified to purchase?

The first step is to find out what your current property would likely sell for in today's market. I make that calculation for clients all the time. It involves reviewing what homes similar to yours have sold for recently, as well as other data —such as special features your home may have that are likely to boost the selling price.

Once you know the current market value of your home, subtract any outstanding mortgages and estimated selling expenses, and you’ll end up with an amount that can be applied to the purchase of your next home. (You may also have other funds you want to use.)

The next step is to talk to a lender or mortgage broker to see how much of a new mortgage you qualify for. (Call me if you need a recommendation.) It's important to get a Pre- Qualification or Pre-Approval. That makes the offer you make on a new home more credible.

If you want to find out the types and sizes of homes you can get into, give me a call. I'd be happy to show you the possibilities

 

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Yearly Property Potential Evaluation
Posted on Mon, 30 Oct 2017, 07:30:00 PM  in Home Inspections
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property value

Once a Year, Consider Your Property’s Potential Assuming that at each renewal, a homeowner’s mortgage would be less than it was in the previous term, homeowners can look forward to eventually improving their monthly cash flow. In addition to a smaller mortgage, some may also enjoy the benefit of additional home equity if the property’s market value has increased since it was first purchased. If these factors are working in your favour, it could be a good time to think about your options.

For example, you could consider increasing your monthly payments and shortening the amortization period for your remaining mortgage. Alternatively, you might consider upsizing to a more accommodating home, or downsizing and benefitting from more affordable monthly costs (e.g. mortgage, condo fees, etc.) and fewer responsibilities. If you’re looking for financial opportunities, another option might be to examine the income-earning potential of a second property that could provide you with a stable monthly return on your investment. If now is the time to consider how you may capitalize on your property’s potential, let’s meet to discuss the best options for you. We can start with a candid evaluation of today’s market and your property, and then consider the factors that might affect values in the short and long term.

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Thinking about Purchasing Home Automation Product
Posted on Fri, 29 Sep 2017, 05:50:00 PM  in Home Security Tips,  FUTURE TECHNOLOGY,  Home Improvement Tips
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Should You Buy the Latest Home Automation Gadgets?

You’re at work when the thought hits you, “Did I lock the door when I left this morning?” You check your smartphone, see that you didn’t, and click the “LOCK” button. Now your house is secure.

That’s home automation for you!

But, is home automation a good idea? That depends on a number of factors.

On the pro side, home automation can improve your quality of life. There are automation products that will adjust heating/cooling depending on whether or not you’re home, make your morning coffee when you get out of bed, and the list goes on and on. These conveniences save you time.

Home automation can also give you peace-of-mind. It’s comforting to be able to remotely see the inside of your home and check that everything’s okay.

Home automation can also make your property more appealing to buyers. Traditionally, buyers like homes with security systems, and will appreciate other automation gizmos, too.

The only downside is the cost. Like most new technology, home automation products can be pricey and may become out-of-date within just a few years.

Thinking about it? Experts advise you to do your research first. Check out product reviews online. Then, if you determine that a particular product is going to benefit you, go for it!

 

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Treat a BBQ with the same care you would a camp fire
Monday, 11 September 2017, 07:40:00 PM
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BBQ Safety Tips You Should Know

According to a recent study, the average homeowner pays more attention to kitchen stove safety than they do BBQ safety. But, the fact is, a BBQ mishap can be just as devastating. So, it pays to know the latest safety tips.

Keep BBQs at least 8 feet away from your house.

Check for venture tube blockages regularly. (Spiders are notorious for spinning webs in there.)

Clean the grill frequently to prevent flare ups. A grease fire on the grill can continue burning even after you’ve turned the BBQ off.

Don’t position your BBQ close to foliage, such as under a tree or next to shrubs.

Never BBQ in an enclosed area, such as a garage, even if the space is well ventilated.

Avoid leaving the grill unattended, especially when cooking greasy foods such as sausages, beef burgers or steaks.

Do not let children BBQ.

Finally, make sure your BBQ is turned completely off after use. It’s a good idea to double-check this when making the rounds and locking up your home for the night.

Experts say you should treat a BBQ as you would a camp fire — with care.

 

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Three reasons to talk to me today, even if you’re not yet ready to sell:
Posted on Mon, 05 Jun 2017, 07:50:00 PM  in Marketing strategies
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3 Reasons to Talk to a Realtor Today

 

 

You might naturally assume that it is most important to talk to a Realtor when you’re selling or buying a home. But there are many other circumstances in which it makes sense to give me a call. Here are a few examples.

1. When you’re at the “thinking about it” stage

If you’re just thinking about selling your home, and haven’t made a firm decision yet, you might feel uncomfortable calling a Realtor. Don’t be. In fact, I welcome your call. We can discuss what your current property will likely sell for on today’s market, and determine the type of home you qualify to buy. That way, you’ll have some clarity and be able to make a more informed decision.

2. If you’re nervous about the selling process

If you haven’t sold a home before, you might be concerned about what’s involved in the process. You might even worry that putting your home on the market is going to be a lot of work and create a lot of turbulence for you and your family. Fortunately, selling your home doesn’t need to be scary. In fact, a big part of my job as a Realtor is to make the process as smooth and trouble-free as possible. So if you have concerns about selling your home, you should give me a call.

3. If you have questions

You likely have questions about the local real estate scene from time to time. You might have questions like: “How much did that home around the  corner sell for?”; “Is now a good time to make a move, or should I wait until the market changes?”; and, “How much is my current home worth?”

When you have questions like those, you don’t need to dig for answers on your own. You can give me a call. As an expert in the local market, I can give you the answers you need.

 

 

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GTAWesthomes reports May 2017 Resale Market watch
Posted on Mon, 05 Jun 2017, 07:40:00 PM  in REAL ESTATE RESALE MARKET REPORT
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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.

 

 

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Getting a Handle on the Home Selling Process
Posted on Tue, 16 May 2017, 08:15:00 PM  in Home selling tips,  Home Decor-Home Staging,  Home Improvement Tips
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Getting a Handle on the Home Selling Process

You probably know there’s more to selling a home than putting up a For Sale sign. But, if you don’t understand the process in detail, you might feel intimidated and stressed when it comes time to put your property on the market. Fortunately, the home selling process isn’t that difficult to understand. There are basically six steps.

Step one is selecting the right REALTOR®. You need a knowledgeable, trusted expert who can guide you through the process, take care of all the details, and help sell your home quickly and for the best price.

Step two is preparation. You need to ensure your home is clean and uncluttered. It’s also important that you take care of any needed repairs, even minor ones like wall dents.

Step three is the listing price. You need to select a listing price at or near the fair market value of your property.

Step four is promotion. How will buyers find out about your property? An effective promotion plan is critical.

Step five is dealing with offers. Ideally, you’ll get several. But the best offer is not necessarily the highest one. An offer can fall through for many reasons, so dealing effectively with offers is, perhaps, the most important part of the home selling process.

Step six is the transaction. Once the sale is made, you want to know that you have the right professionals in place – your lawyer, mover, etc. – to make sure all the after-sale details are taken care of properly.

Want more ideas for making sure the home selling process goes smoothly for you? Call today.

 

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Market Year (2016) in Review and Outlook Report 2017
Posted on Wed, 15 Feb 2017, 01:35:00 PM  in REAL ESTATE RESALE MARKET REPORT
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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.

 

 

http://trebhome.com/market_news/release_market_updates/news2017/pdf/2017-MarketYearInReview.pdf

 

 

If you would like to know specifically what your home is worth and how you can buy an investment property using your equity, Call me for a quick chat.

 

 

 

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An Additional Property May Be More Affordable than You Think
Posted on Mon, 13 Feb 2017, 05:15:00 PM  in Home buying tips,  Creating Wealth from Home Equity
Tags:  

property investment

 

An Additional Property May Be More Affordable than You Think

 

Generally speaking, most homeowners give little consideration to the purchase of a second property, often citing economic limitations for either a down payment or for carrying an extra mortgage. But sometimes an open-minded approach to the idea can create true opportunities.

For example, your current property may have enough equity to enable you to secure an additional loan. You may also discover that specific real estate investments have the potential to generate dependable income. It takes homework, but properties in areas where rental units are in demand can generate steady cash flow, that can contribute to their monthly upkeep.

Another option might be owning your own cottage, chalet or resort condo. Rather than taking an expensive family trip this year, imagine using that money towards a vacation property, which can be rented out on long weekends or during the peak season.

 

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MAXIMIZE YOUR DECEMBER SAVINGS!
Friday, 09 December 2016, 06:10:00 PM
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MAXIMIZE YOUR DECEMBER SAVINGS

 

Maximize

Your December Savings

You’re probably going to be inundated with holiday sales this month. While those sales can be fantastic, they aren’t the only opportunities to save money. Here are some less-than-obvious ways to keep more money in your pocket.

• Review all of your subscriptions and online services that are set to auto-renew. Do you still want them? Online subscriptions can easily go unnoticed for months. Cancel those you don’t want.

• Have you received any notices of price increases? That’s common in December as companies hike rates for the new year. If you’re a long-term customer, give the company a call. You may be entitled to a loyalty discount, or at least be able to negotiate your rate.

• Do you have a loan or mortgage? Many lenders allow you to make lump-sum payments on the principal. This can save you a bundle on interest charges.

• Call your insurance company. Ask what riders you have on your policies that are not included in your basic premium. Find out if you still need all of them.

 

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