Toronto Homes

Toronto's January Real Estate Market Report & Interest Rate Cuts

Toronto's January Real Estate Market Report & Interest Rate Cuts

Toronto's January Real Estate Market Report & Interest Rate Cuts

Sales were up in January 2024. In this video, we'll take a look at: 1/ What happened in Toronto's real estate market in January 2024 2/ When will the Bank of Canada cut its benchmark rate

Toronto Homes Under $1 Million West of Yonge

Toronto Homes Under $1 Million West of Yonge

Toronto Homes Under $1 Million West of Yonge

What Not To Fix When Selling Your House. 6 Things To Wow Buyers

In the world of 140 characters, reels and swiping…first impression is critical especially when selling your house. Here are 6 things you can do to wow buyers.

Let’s go through 6 things to wow buyers when selling your house

  1. Paint. Living in a house for years with kids, pets and daily wear & tear, there will be scuff marks, dents and nail holes. A fresh coat of paint makes a world of difference. I have kids and for some reason, there seems to be always a new a surprise on the walls.

  2. Light fixtures. They will modernize and brighten up the space. Have you ever walked into a house, turned on the lights and the house was still dark or had yellowish lights? You don’t get the best feel for that room right? Making a good impression for a potential buyer is the goal here.

  3. Door handles/fixtures. I’m referring to the basic round builder door knobs here. They need to go. Also tighten up loosen door handles. Opening and closing doors or closets should feel sturdy. It gives a solid feel for the house.

  4. House Functions. Walk through the house and review the mechanicals to ensure they do not need major work. For example, if you have a leaky roof, get it fixed, repair any damaged drywall and keep the receipts. Inspect and make sure there are no issues with the furnace, air conditioning unit and electrical outlets. As a seller you don’t want to plant seeds of hesitation in a potential buyer’s mind. If there are ungrounded outlets, the potential buyer might question the electrical wiring of the house and what they might be getting into. That buyer could put a low ball offer since they believe they have to budget for potential surprises and repairs.

  5. House Ambience. Work with your real estate agent and stager to declutter, depersonalize by removing all personal photos & memorabilia. Leave the space for the potential buyers to visualize living and entertaining in the house.

  6. Landscaping. This action items depends on time of year when you’re selling your house. If you’re selling in the spring, summer or fall don’t forget to do a landscaping clean up.

Here are two bonuses for you, well for you to expect from your real estate agent:

  1. Cleaning. Your real estate agent will have the house professionally cleaned. There is no room for error. No second chance if a potential buyer sees a furball. The house needs to be spotless.

  2. Photos. Ok this is a pet peeve of mine. No photos using smartphones, only professional photographers who will present the house at its best. Put yourself in the buyers agent or buyers shoes scrolling through MLS listings online. If the photos don’t show well, they will not consider setting up a showing appointment. You only have a few seconds to make a great online impression for the buyers to setup an appointment to see the house in person. You would be surprised how many times I have seen photos of houses for sale using a smartphone. Please stop.

If you’re looking to get your house ready for sale, download my seller’s guide.

Should You Renovate or Buy a New House?

This is the million dollar question. Hopefully it won’t cost a million to renovate your house!!

Are you outgrowing your space and wondering if you should renovate or a buy a new house? I'll walk you through 6 factors to consider if you renovate your house and 6 factors if you buy a new house.

Let’s take a look at factors to consider for each scenario. First renovate your house:

  1. Timeline: Allow for adequate time for getting designs, permits and renovations completed. This could take up anywhere from a year to a year and a half depending on the extent of the renovations. I am referring to gutting the house, doing an addition, adding a third floor, underpinning the basement….major work and not cosmetic such as redoing a few bathrooms

  2. Budget: Whatever you budget for add another 25-30%. There are always surprises, additional issues to address and changing cost of labour and material

  3. Contractor: I highly, let me say that again, highly recommend you pick the contractor early in the process. You might be asking how if you don’t have designs completed for the contractor to quote. Ask for referrals from friends and family who have done extensive renovations, interview the contractor, search them online and ask for past clients references. It’s important to have the contractor provide input to the design process since they are responsible for doing the renovations. Anything can be designed on paper, however if it’s difficult to build, it will add significant costs

  4. Accommodations: This is something to plan and budget for. If your renovations will take 8-12 months, account for renting another home while renovating your house 

  5. Location: You get to stay in the area you have roots in

  6. Long Term Home: The reward of this process is you get to design and build your long term home. The finishes, the features will make this a long term home for your family. A place to entertain, host and live.

Ok let’s look at buying a new house:

  1. Buy & sell: depending on market conditions you will either have to buy first then sell or vice versa. Be prepared to declutter your current home and get it ready for sale

  2. Moving: Decluttering, purging, packing, moving and unpacking with young children can be a challenge. Speaking from personal experience, I find building a house from scratch is a lot easier than moving with young kids but it had to be done

  3. Features & Finishes: It might not be the perfect house in terms of wall colours or choice of tiles, however minor cosmetic changes can be done before you move in or down the line

  4. Finances: Some of the costs to consider are land transfer taxes, legal fees, selling fees, moving fees and any mortgage penalty fees

  5. Neighbourhood: You might buy a house in the desired school catchment area where you want your kids to go to school to

In summary, if you live in a condo which is your first home, buying a house is pretty much your only option since you are outgrowing the space. If you live in a house then either option could work for you. It really depends on what your preference is to love it or sell it.

If you have outgrown your space and are looking to move a bigger family home reach out. I have helped many clients and have personally moved with young kids.

Are Toronto House Prices Cheaper Now?

Are Toronto House Prices Cheaper Now?

There is no doubt house prices have dropped since Feb 2022. Are houses now really cheaper? Hint this is a trick question.

Will Toronto House Prices Drop?

Will Toronto House Prices Drop?

Will Toronto House Prices Drop? Bank of Canada has, so far, increased the benchmark rate 3.5% since Feb. 2022. Toronto house prices have dropped since then.

I discuss what has happened in Toronto's real estate market, what's happening and what will happen based on 3 indicators I'm tracking.

August 2022 Toronto Real Estate Market Analysis

August 2022 Toronto Real Estate Market Analysis

August 2022 Toronto Real Estate Market Analys

is Is there any good news? What happened to Toronto's real estate market in August 2022 from a micro & macro level. 3 indicators I'm looking moving forward to see where the real estate market is going.

And finally, the 2 groups who can benefit from the current real estate market conditions.

How To Choose The Best Offer When Selling Your Home

How To Choose The Best Offer When Selling Your Home

How To Choose The Best Offer When Selling Your Home You have your home for sale and you got an offer. How do you choose the best offer when selling? Hint: It’s not the price!!

Every Home Buyer Should Do This Before Closing

Every Home Buyer Should Do This Before Closing

You have bought a home and can’t wait to get the keys on closing day. Nothing ruins a good mood when you get the keys and find out there are missing or broken items you need to fix.

Every Home Buyer SHOULD Do This Before Closing!!

3 Groups Who Should Buy A House In This Real Estate Market 🏘️

3 Groups Who Should Buy A House In This Real Estate Market 🏘️

Interest rates have been rising and the real estate market has changed since earlier this year. Who should buy a house in this real estate market?

3 Groups Who Should Buy A House In This Real Estate Market

Should I Buy A House/Condo Now Or Wait?

Should I Buy A House/Condo Now Or Wait?

Interest rates are up and real estate market conditions have changed quite a bit since early 2022. For home buyers, the million dollar question is to buy now or wait?

Are you ready for some math?