Condo Living

What You Need to Know Before Buying a Home in Ontario

Thu, 21 Nov 2024 18:56:31 GMT

Well, it’s officially the holiday shopping season and what could be better than shopping for a new home?

Buying a home in Ontario is an exciting yet complex journey (not to mention the wrapping paper needed!) that requires careful planning and consideration. Whether you are a first-time buyer or looking for a change, understanding your financial position, researching the market, and working with the right professionals are vital steps to ensuring a smooth and rewarding experience.

Here’s a concise shopping list to help you prepare.

Understand Your Financial Position

Before you even start house-hunting, it’s essential to understand your financial standing. The first step is to assess your affordability. Take a close look at your income, expenses, and savings to determine how much you can comfortably allocate to homeownership.

As a rule of thumb, many experts recommend that your monthly housing costs (including mortgage payments, property taxes, and utilities) should not exceed 30-35% of your gross monthly income.

Next, focus on your credit score and getting a mortgage pre-approval. Your credit score plays a significant role in securing favourable mortgage terms. Make sure you’re not on the naughty list!

A higher score typically results in better interest rates, which can save you thousands over the life of your loan. Before applying for pre-approval, check your credit report for errors and address any outstanding debts.

Don’t start seriously looking at properties until you know what you can afford. Getting pre-approved for a mortgage is vital and gives you a clear idea of your borrowing capacity. It also shows sellers you’re a serious buyer.

In Ontario, you’ll need to plan for a down payment. For properties up to $1 million, the minimum downpayment is 5% for the first $500,000 is 5%, plus 10% for the remainder. Properties $1 million and above require a minimum of 20%.

Starting early to build up your down payment is crucial, especially when considering the higher home prices of major urban centres in Ontario like Toronto. For first-time home buyers, government programs such as the Home Buyers' Plan (HBP) and the First Home Savings Account (FHSA) can assist with the down payment.

In addition, it’s also crucial to budget for additional costs like the Ontario Land Transfer Tax (first-time buyers may qualify for rebates), legal fees, home inspections, and property insurance. A good rule of thumb is to budget 3-5% of the purchase price for closing costs.

Research the Housing Market

Ontario’s real estate market is diverse and varies significantly by region, making research a vital part of your home-buying journey. Start by familiarizing yourself with market trends. Are prices in your desired area increasing or stabilizing? Is it a buyer’s or a seller’s market? Keeping tabs on these trends will help you decide when and where to buy.

Consider location carefully. The right neighbourhood can make or break your experience as a homeowner. Consider proximity to your workplace, schools, public transportation, and amenities like grocery stores and parks (and shopping!). Research crime rates and the general vibe of the community. Urban areas like Toronto or Ottawa offer convenience but have higher price tags, while suburban or rural areas may provide more affordability and space.

Timing your purchase is also important. Ontario’s housing market often sees seasonal fluctuations. Spring and early summer tend to be the busiest periods, with more listings but also more competition. Fall and winter may offer fewer choices but could result in better deals if fewer buyers are in the market. Keep an eye on interest rates, as even small changes can significantly impact your mortgage costs over time.

Work with Professionals

Buying a home involves more than just finding the right property. Collaborating with experienced professionals throughout the process will make the experience smoother.

A real estate agent is often the first point of contact. Agents bring invaluable local knowledge, negotiate on your behalf, and help navigate the complexities of the transaction. When choosing an agent, look for someone familiar with your market, preferably one with excellent reviews and a solid track record in your desired area.

You’ll also need a real estate lawyer to handle the legal side of the transaction. In Ontario, a lawyer is essential for reviewing contracts, conducting a title search, and ensuring all documents comply with provincial laws. They’ll also oversee the closing process to ensure the transfer of ownership is seamless.

Finally, consider working with a mortgage broker or financial advisor. Mortgage brokers can help you shop around for the best rates and terms, saving you time and money. A financial advisor can guide you on how a home purchase fits into your broader goals. These professionals can help you make informed decisions and avoid costly mistakes.

Understanding your finances, researching the market, and assembling the right team are essential steps to buying a home in Ontario. While the process may seem daunting, thorough preparation can make all the difference. By taking these steps, you’ll be well-equipped to find a home that fits both your budget and lifestyle.

If a new home is on your Santa list or you have questions about the market or process, reach out to me today.

A Season of Optimism for Homebuyers

Tue, 15 Oct 2024 15:31:39 GMT

As we come out of Thanksgiving weekend in this final quarter of the year, it’s the perfect time to reflect on the incredible opportunities in the Toronto real estate market. While the fall months can feel busy and fast-paced, it’s important to understand and appreciate that the path to homeownership is a journey. Buying a home is a huge decision, and I’m reminded of how much this industry can shape not just individual lives, but entire communities. Let’s take a look at some key thoughts as we move through the last stretch of the year:

More Than a Transaction

Real estate is so much more than transactions and contracts. It's about helping people find a place to call home where they will grow, make memories, and build a future. For those of us working in this industry, there’s immense satisfaction in guiding buyers through this major life decision. Each home purchase is not just a sale—it’s an opportunity to make a lasting impact. I’m incredibly thankful for the trust that homebuyers across the GTA place in me, and for the meaningful relationships that are built throughout the process.

Optimism in the Fall Market

There’s something special about this time of year. While we often associate optimism with the start of a new year, the final months can be just as energizing. Whether you’re a first-time buyer or looking to make a move, the Toronto market still holds many exciting opportunities. Fall can bring more flexibility in negotiations and, with a bit of guidance, buyers can feel confident navigating any challenges that arise. This season, I’m excited to help people find homes that truly fit their needs and desires.

Creating Stability in Uncertain Times

In a world that increasingly feels uncertain, having a home brings a sense of stability and security. Especially in the GTA where the real estate market can be competitive, finding that perfect space is more than about walls and a roof—it’s about peace of mind. Homebuying often comes with its own set of challenges, from negotiations to resolving issues between buyers and sellers. Yet, these challenges can be addressed with a problem-solving mindset, ensuring that every transaction results in positive outcomes for everyone involved.

Building Strong, Two-Way Relationships

Real estate is about much more than just buying or selling a house—it’s about building strong relationships . Whether I’m working with clients, other agents, or industry partners, collaboration is key. Fostering open communication and understanding everyone’s needs ensures that each homebuyer feels supported throughout their journey. I believe that strong two-way relationships lead to better outcomes, and that’s a priority for me as we move into this last quarter of the year.

Keeping Your Home a Sanctuary

As much as the home-buying process is exciting, it’s also important to focus on what comes after the sale: maintaining a home that feels like a sanctuary. Simple practices like decluttering, refreshing your space with seasonal décor, or creating a cozy environment can transform a house into a welcoming retreat. Whether it’s preparing your home for winter or making small improvements to increase its value, these routines contribute to a peaceful and thriving home life.

Embracing the Last Months of the Year

As the final months of the year unfold, there’s so much to look forward to in the Toronto real estate market. From opportunities for new buyers to make their move to those considering selling and starting a new chapter, this season is full of potential. Let’s embrace the optimism and finish the year strong, building communities, forging relationships, and creating lasting memories in homes across the GTA.

Here’s to a season of growth, opportunity, and optimism in real estate!

Hoarding and the Protection of Your Valuable Investment

Tue, 17 Sep 2024 18:37:12 GMT

During the pandemic, condo owners and investors saw double-digit price growth in their units. This prompted some people to sell their investments and use the proceeds to upgrade their own living spaces. But what if - in the process of inspecting your investment to prepare it for sale - you discover your tenant is a hoarder?

Oh, the “hoar-er”!

I have dealt with a number of these situations as a real estate agent and they are more common than you think. An estimated 2-6% of the population suffers from hoarding disorder. A recognized mental disorder , hoarders have a strong and persistent resistance to discarding belongings and/or a need to accumulate an excessive amount of ‘things’. The result is a cluttered living space, that in severe cases can lead to fire hazards , mould, insects and other infestations. In extreme cases, hoarding can lead to significant property damage.

How do you protect one of your most valuable assets from damage caused by hoarding?

Obviously, it starts at the tenant screening stage. But how do you know if a person has a hoarding disorder?

The only way to know for certain if someone is a hoarder is to see the state of their current residence. Since they have to put their current residence on their application form, you could do a drive-by to check for signs. However, if they live in an apartment, this might not be possible. If you are showing your property to them in person, take a quick peek at their car. If it’s filthy and piled with junk, they might treat your property the same way.

Proper screening is important whenever you are renting, so be sure to check with all references and previous landlords.

Screening is not foolproof, so it’s also important to regularly inspect your property, say every 6 months or so, to ensure it is being taken care of. If you suspect your tenant might be a hoarder , talk to them right away and remind them of their lease obligations, especially relating to health and safety issues. However, be aware that if issues are not resolved, you can’t simply evict the tenant.

Hoarding is considered a mental illness and, therefore, your tenant is protected under the Ontario Human Rights Code. However, when there are issues of public safety, you may have grounds. And where you think there may be a fire safety risk, inform your local fire department as they are a resource that can help. It is important that you carefully document what you find in case you reach the point where you need to apply for an eviction order.

Your tenant is out and you want to sell. Now what?

Getting a property cleaned out and ready for showings is no easy task when hoarding is involved. Junk must be disposed of, disinfecting and sanitizing will need to be thoroughly done, extermination services might be required and repairs likely made. Depending on the state of disrepair, you may want to consider hiring a professional cleaning service experienced in these situations.

As someone who has dealt with several of these situations, I can help you sort out what needs to be done and find you the best resources to help get your property back to pristine condition. Give me a call today to see how I can help.

Co-operative Living: A Home-Ownership Alternative

Wed, 28 Aug 2024 15:35:09 GMT

What do you think of when you hear the term “co-operative housing or co-op housing”? If you’re a bit older you might think back to the 70s with hippies living together in communes and living off the land.

Today, you might think more about subsidized housing in low-income neighbourhoods.

Both are forms of co-op housing but there is so much more to this alternative form of living.

A housing co-op is typically set up as a not-for-profit corporation that owns a property with a block of units or townhomes. People who live in a co-op do not own their unit, rather they own a share of the entire property and are granted exclusive use of a unit to live in. So rather than being a tenant or an owner, they are a member (or shareholder) of the co-operative.

As a member, you have a say in how the property is managed by the member-elected board of directors. The board is responsible for building and property maintenance, determining housing costs, as well as deciding who gets in. As a result, application processes can be lengthy and wait lists are long.

Like the 70s analogy, co-op living is communal. As a shareholder of a property you are responsible for its management and upkeep and therefore expected to participate on some level. So if you’re not the type of person to interact with your neighbours, attend meetings or contribute time and energy for the betterment of your shared surroundings, co-op living is probably not for you.

Co-op living can also be subsidized living. In Toronto, most co-ops are federally funded under the National Housing Act. In many properties there are both subsidized members (geared to income) and market-value members. Government subsidies help to bridge the gap in housing charges between these two groups. Housing charges can therefore be kept lower, making co-op housing more affordable and an attractive alternative to buying a condo.

Let’s look at some of the other major differences between co-op housing and regular home ownership.

Perhaps most importantly, you cannot get a typical mortgage to buy into a co-op . Because you don’t actually own your unit, banks have no collateral to foreclose on in the event of default. So if you don’t have the cash on hand to buy in, you will need alternative financing such as a share loan, which uses your share in the property as collateral.

It’s much harder to get into a co-op building . Firstly, there are long wait lists - people don’t tend to move out of a co-op but rather within it. And even if you are lucky enough to find a co-op unit in the area you want, potential members are carefully scrutinized to ensure they will fit into the community and lifestyle of the building.

Finally, there are co-ops to suit a broad range of interests and lifestyles . You can find women-only co-ops, co-ops for LGBTQ+, co-ops geared towards artists and more.

Diversity and a sense of community is an inherent part of co-op living and one of its unique strengths. And in today’s market where home ownership is out of reach for so many, it is becoming a popular option once again.

If you think co-op living might be right for you, give me a call today to learn more about this alternative-living lifestyle.

Are You Ready to Become a Landlord?

Thu, 20 Jul 2023 19:16:04 GMT

Heck ya!

Getting into the real estate market can be both a challenge and a great opportunity. Lower interest rates can help to offset higher market prices.

One tried and tested way to gain entry into the market is to buy a property that can provide you with rental income, such as a duplex or one with a basement apartment.

If you are just looking to break into the market, having someone else help pay your mortgage is a great way to do it. If you already own a property, now is a good time to use the equity you’ve built up, coupled with lowering interest rates, to purchase an investment property.

Now there is more to becoming a landlord than simply having a space to rent, but in today’s market it is easier than ever before. There are support and resources like the Landlord Self Help Centre to get you started with sample contracts, tips, etc. Apps like Jiffy where you can find all the trades you need for fixes and maintenance. There are even property management companies that manage everything for you.

But, like anything new, it’s a good idea to be prepared and know what you are getting into.

It’s a business.

Treat your rental like a small business. Create a budget and track cash flow and expenses. Make sure you set aside funds for maintenance and repairs, as well as the unexpected. It’s a good idea to set aside 2% of your purchase price to cover your annual expenses.

Brush up on your DIY skills.

As a landlord, you are responsible for all maintenance and repairs to your rental property, both inside and out. While there are plenty of resources available from plumbers to landscapers (e.g. via Jiffy), you may want to save your budget dollars by taking care of small things yourself.

Be selective.

As a business owner, you wouldn’t just hire anyone without checking them out first. Treat potential tenants the same way. Do a credit check, check their references…but also look beyond the obvious. You want someone that is trustworthy and will pay the rent on time. For example, I’ve found that newcomers can make the best tenants. While they may not have the credit history because they are new to the country, they want to be here and work hard to ensure their rent is paid on time.

Know the rules.

The rental market in Ontario is heavily regulated and geared towards the protection of the tenant. Both the Residential Tenancies Act and the Human Rights Code govern your responsibilities as a landlord. In addition, because a rental is considered a business, you must also ensure the privacy of all personal information regarding your tenants under PIPEDA . This means you can’t share or disclose information about your tenants to third parties without their consent, including posting about them on social media.

Taxes, codes and more .

Rental income, like any business income, is taxable. It’s a good idea to consult a tax accountant before setting up your rental property or unit to ensure you are properly prepared at tax time, knowing what deductions and expenses can be claimed against your rental income. As a landlord, you must also ensure your rental unit complies with all applicable zoning laws and building codes to ensure the safety of your tenants. And don’t forget about insurance. If your unit is within your primary residence, like a basement apartment, it may be covered under your house policy. Check with your insurance advisor to ensure you have the proper coverage and make sure your tenants get their own tenant insurance to cover their belongings.

So, while being prepared is important, don’t get overwhelmed. There is so much help out there and so many benefits to having a rental property. And if it gets you into the housing market, it’s well worth it. Know what you are getting into, be prepared, and you will set yourself up to reap the rewards.

For help on finding that perfect income-potential property, give me a call today .

Getting Your Condo Ready for Spring

Fri, 29 Apr 2022 15:38:30 GMT

While Spring is technically here, Mother Nature doesn’t seem ready to fully embrace it yet! But that doesn’t mean you can’t get ready for the warmer weather that is soon (I hope) to come.

Spring cleaning is something we humans like to do to shake off the cold, dry cobwebs of the winter - literally and figuratively - and start fresh as the warmer weather and longer days begin. As we start opening up windows to fresh air and more light shines in our homes, we are energized to shake off the gloomy winter feel and make our homes sparkle.

While some of us embrace the annual deep clean, for many it can seem like an overwhelming chore. If you fall somewhere in the latter pool, here are six helpful tips to get you started.

Tip #1: Get Organized

Before you get started, make sure you have all the cleaning supplies you need from all-purpose cleaners to sponges, mops and rags. Stay away from harsh chemicals, like beach, or use sparingly and in well-ventilated areas. Check out these “Martha recommended” cleaning products to get you started.

Next, clear the clutter. Cleaning will be a lot easier if you get rid of unwanted items and tidy up. There’s no point in making things harder than they have to be!

Tip #2: Go Room by Room

If you try to do your whole house or condo at once, you’ll quickly become overwhelmed. Pick a room, like your bedroom, and clean it from top to bottom. That feeling of accomplishment when you finish will give you a boost to tackle the next room.

Tip #3: Dust First, Floors Last

When you dust and wipe down surfaces, some of that dirt will end up on your floors, so tackle the dusting first and leave the floors to last. Think of it as a top down approach. Dust gets everywhere, including walls and ceiling fixtures. Wipe overhead fans and lights and use a damp cloth to wipe down walls. A trick my mother used was tying a damp cloth around a mop head to get to the high places. It’s also a lot easier on your arms!

Tip #4: Get Into the Nooks and Crannies

It’s only once a year so don’t just clean what you can see. If you have bookshelves, take everything off and give them a thorough cleaning. Wipe down everything on the shelves as well. Use a vacuum to get into tight spots. Get in behind your appliances where dust and dirt gets trapped unseen. You may even find those lost socks!

In bathrooms and the kitchen, make sure you clean the tile grout. These are porous surfaces and great places for germs and mold. Hydrogen peroxide and water or baking soda and vinegar are two simple solutions to clean grout, along with a stiff, fine brush (like an old toothbrush). And while you’re at it, be sure to reseal any cracks or gaps.

Tip #5: Don’t Forget the Windows

You want to make sure you’re getting all the spring and summer light in! Clean your windows inside and out. If you’re in a condo, inaccessible outside windows are the responsibility of the building owner. If you have a balcony however, those windows are your responsibility. Give them a good scrubbing to get the city grime off and be sure to repair any gaps or cracks in the seals around the windows and doors.

Tip #6: Safety Check

Finally, spring is a good time to change your smoke detector batteries (should be done twice a year) and inspect your fire extinguisher. Clean out your dryer vent and exhaust fans, check HVAC filters and replace burnt out light bulbs.

A thorough spring clean will have you feeling refreshed and ready for the warmer weather. But don’t try to tackle it all at once. As I said above, go room by room and don’t try to get everything done in a day. And if it’s really just too much to take on, you can always hire a professional!

Time to Maximize Your Borrowing Power

Fri, 25 Feb 2022 20:15:30 GMT

In my last post , I talked about how prices continue to rise in the Toronto real estate market (and everywhere else) so the time to get into the market is now - especially before it heats up even more come Springtime.

There is even more incentive to get in now as mortgage rates are set to rise. We’ve been spoiled by a long period of low interest rates, which has also helped fuel the real estate market over the last few years.

However, as inflation continues to rise the Bank of Canada can no longer hold interest rates where they are. We’re also seeing a bit of buyer fatigue in some areas - meaning less competition for some properties currently on the market - making this a good time for qualified buyers to get in.

It also makes it a good time to invest in a second property by taking advantage of the increased equity in your current home. By locking in a rate now, you can save on borrowing costs for the next few years depending on the type and term of mortgage you select.

The condo market is a good place to look right now as housing supply continues to be tight across the GTA. Coming off a strong 2021, Toronto’s condo market is expected to be even stronger this year. Although supply is still an issue, new pre-construction projects should provide some opportunities as over 7,500 new units are anticipated starting next quarter.

For insight into the current market and buying opportunities, give me a call . It’s time to love, live, life in the city !

The Time is Now

Mon, 31 Jan 2022 21:37:46 GMT

I know I’ve said this before…but if you are looking to invest in the real estate market, whether as a first-time buyer or as a landlord , the time for hesitation has passed. It’s been a crazy couple of years as a pandemic real estate market has fueled unprecedented price increases across the country. And there doesn’t appear to be an end in sight as prices continue to rise.

The Spring market is typically one of the hottest for real estate and as we near this time of year, the market is only going to continue to get hotter. The time to buy was yesterday which means the time to buy is now. Inventories remain low as people are generally staying put, while some are still leaving the city, although much less than at the start of the pandemic.

Many of my buyers are looking for their “perfect place”. Perfection is hard to come by even in the best of markets. What I try to instill in my clients is to build a foundation first. The first (or even the second) home you buy does not have to be your last. The important thing is to buy something that can work for you now and that sets you up for where you want to be in the future.

I’ve heard too many stories of people buying, say, a $2 million dollar home only to find they can’t afford to fix it.

I encourage you to approach real estate with an investors mindset. This means focusing on the opportunity instead of a specific property. Start with the general area of where you would like to live and then look for an opportunity that will simply get you into the market. In all likelihood, this will involve a property that is going to require work.

In this case, you may approach the purchase with a view to fixing it up and then selling to get into something more ideal. That’s a perfectly solid strategy. And this is where I would say to look for something that has a good foundation or to concentrate your efforts on fixing and solidifying the home’s foundation, rather than doing more cosmetic fixes just to make it “look” better.

Why? Because a solid foundation can make a house more attractive to buyers as it means any other work that needs to be done will be easier and likely cheaper.

Prices are only going up so if you can find a property that you can live with for a while and afford to fix up, you are setting your foundation for your next move up. And with immigration set at a target of 411,000 for 2022 there will be buyers ready when you are ready to sell.

Use a trusted Realtor to help you find that foundational home, especially if you have a particular area of interest. They know the neighborhoods best and are the first to see them hit the market. And with competition the way it is, you need any advantage you can get. Let me help you get started and love, live, life in the city !

Pandemic Holiday 2.0

Thu, 23 Dec 2021 16:21:03 GMT

“It’s beginning to look a lot like Omicron…everywhere you go!”

It’s another coronavirus holiday and while we are not out of the woods yet, I wanted to take a moment to reflect on the positives this holiday season.

It’s been a positive year for real estate in terms of sales and in the way we conduct transactions. From virtual showings to virtual signings, the pandemic has forced us to make our processes more accessible, more efficient and more technologically advanced.

As we’ve been spending more time at home, we are taking more pride in our living spaces ( sometimes to our detriment ), and learning how to maximize every square foot as we adapt to working from home .

We’ve explored different ways to get into the housing market, from becoming a landlord to co-operative living .

In a year that focused on global climate change and a global pandemic, we’ve learned that we are all in this together. We are resilient and we are adaptable. And while I can’t solve either of these issues, I am doing my part to try to slow them down as best as one person can do. And I’m forever grateful and thankful to be in a profession that involves helping people.

It was an award-winning year for me and I want to thank all of my clients, friends and family who helped me achieve the Silver Sales Award of Excellence for 2021. I hope I can continue to help you in the coming year with all your real estate needs.

Wishing you the happiest of holidays and a healthy and Happy New Year.

Heartfelt Thanks

Thu, 30 Sep 2021 17:53:46 GMT

As we approach Thanksgiving here in Canada, I wanted to take the opportunity to reflect back on what has been an incredibly challenging year (and a half) for many.

This pandemic has affected our lives in many different ways, from how we shop to how we work to how we interact. In my world of real estate, everything went electronic and virtual from open houses to document signing. And for someone that has a love-hate relationship with computers, this was a big challenge for me!

Which is why I want to take this moment to acknowledge and thank all the people and organizations that help me do what I do. I know that having a real estate license is a privilege and one that I don’t take lightly. A lot of people are involved in the process of buying and selling real estate and I am a mere cog in that wheel.

I am so grateful for all the help I have received over the years and especially during this pandemic. My greatest thanks goes to my clients - especially my family and friends who have kept me going through the pandemic with both business and referrals. Referrals are critical in this business and I am grateful for every one.

Next I must acknowledge my support staff at my brokerage. Paperwork is not my forte - and we have a lot of it - so the administrators that ensure all the T’s are crossed and I’s dotted help to reduce my stress and make my transactions go smoothly. I would be lost without you.

Then there is the brokerage itself that provides me with support, training and resources to do my job effectively. This is a hard business to do on your own, so having a great team and support network behind you is crucial.

I also would like to thank my fellow Realtors® - many of whom I call friends - who share tips, provide advice and lend a hand when needed. And acknowledge those Realtors® on the other side of the transaction who help to make negotiations and deals a win-win for both parties.

Finally, I would like to thank all the great professionals I have the pleasure of working with. This is a business of relationships and finding good people that you can count on and refer to others is a blessing. Thank you to all the stagers, trades people, mortgage brokers, lawyers and others I’ve had the pleasure of working with. I couldn’t do this without you.

So as we celebrate another Thanksgiving, I hope you can take time to reflect on all the good things in your life. I know I will be.

Has HGTV Messed with Our House Pride?

Fri, 27 Aug 2021 15:13:31 GMT

I’ve lost count on the number of home renovation shows on television. It seems we Canadians are obsessed with them. Whether it’s an entire home, a single room, a backyard, a vacation home…rural, urban or on a beach…every angle is covered.

Terms like “mid-century modern”, “shabby chic”, “open concept”, “minimalism” and more are commonplace when discussing home decor.

And the pandemic didn’t help with this obsession. With more time on our hands and some extra spending money, DIY’ers were out in full force buying up lumber and other supplies to tackle their own home renovation projects. And for those not so inclined, hiring renovators to do the work for them.

Turns out, spending all that time at home watching renovation shows had us looking at our own homes and finding all the flaws…or perceived flaws.

Nowhere is this more evident than when I am working with sellers. I’ve noticed a significant increase in people who are embarrassed by their home when they show it to me. But while the open concept look and the designer cushions look great on camera, they’re not always doable or practical.

After all, we have to “live” in the space and living can get messy. And if we have a certain layout or footprint to work with, “opening it up” isn’t always possible. So, should we be embarrassed that our home isn’t Instagram worthy? Heck no!

If you’re selling your home you need to weigh the benefits of renovating it to be “TV-show worthy” to just decluttering, fixing any major flaws and doing some simple staging. And while some buyers may want to walk into a “perfect” home, the truth is most people will want to put their own updates and style into their new property.

And while you may get a little more for your property, in many cases, you won’t make back the significant renovation investment you make.

The bottom line is, we need to give ourselves a break when it comes to the state of our home. We can’t all be Chip and Joanna and we shouldn’t have to be. If you are planning some major renovations in anticipation of selling, talk to a trusted Realtor first. Chances are there are some simple fixes that can be done to make your home attractive to buyers and a little staging can go a long way.

Give me a call today for some pre-sale advice.

Condos Are Back

Wed, 21 Jul 2021 18:43:39 GMT

To be honest, they never really left. When it comes to Toronto, the one thing that is consistent is the condo market. While the pandemic put a dent in sales with many people scrambling for more open spaces, the reality is that condo values have appreciated significantly over this time. In fact, prices have grown 44% since the housing peak of 2017.

This growth trend is now expected to continue as pandemic restrictions ease. And with more and more people being vaccinated, the appeal of city life is now back on buyer’s minds.

From a buyer’s perspective, this means there is very low risk to investing in a condo in the downtown core. The important thing to remember is to find the condo that is right for you. One that has the features and amenities you need, is in the right location and, most importantly, is the right price.

These factors should always be the case, no matter what the market is doing. But the bottom line is, it’s hard to go wrong buying a condo in a world-class city like Toronto. To give you some perspective, if you had purchased a condo in 2017 for $500,000, you would have gained $220,000 in equity today!

And there’s good news for investors too as the rental market heats back up. Easing restrictions means that foreign students are coming back to the city and immigration is expected to see significant growth . In addition, offices are starting to bring workers back in. While many still have some form of work-from-home arrangement, the prospect of long commutes for those that left for greener spaces is also fueling demand for rental units.

If you’ve been on the fence about moving back to the city and buying or leasing a condo, give me a call. I’ve stayed on top of the market and can help you work through your needs and options to find the right property for you.

It’s time to get back to living and loving life in the city! Get in touch with me today.

Are Laneway Homes the New Condos?

Thu, 10 Jun 2021 15:41:42 GMT

I recently sold a laneway home in Riverside and it got me thinking about the opportunity these types of homes offer as an alternative to condo living.

In 2018, the City of Toronto passed legislation to allow laneway housing in select parts of the city and in 2019 opened it up to all of Toronto. With space at a premium in the city, this created options for people to build additional housing on their property to use as extra living space, as an in-law suite or for rental income.

Laneway living is not a new concept, but with the changes in legislation it has started to gain more attention, especially as housing affordability is such an issue. Under this current legislation they are referred to as Laneway Suites. According to the City of Toronto:

“A Laneway Suite is a self-contained residential unit located on the same lot as a detached house, semi-detached house, townhouse, or other low-rise dwelling. A Laneway Suite is typically located in the rear yard next to a public laneway and is generally smaller in scale and completely detached from the main house on the lot.

Laneway Suites provide new rental housing opportunities within established neighbourhoods, providing a wider range of low-density housing options while enhancing neighbourhood and community character.”

Because Laneway Suites are located on the same lot as an existing dwelling, they cannot be sold as a separate unit as per the current legislation. However, prior to this legislation people were severing their lots where they could and building laneway dwellings that could be sold as a stand-alone home, much like the one I recently sold.

This is why you may see them come up from time to time for sale. Today, residents with laneway access who wish to build a Laneway Suite must apply to the city for a permit. However, these dwellings can only be rented, not sold.

Laneway Suites are a great alternative to condos, especially for those who prefer a more residential setting vs the “high” life. They also come in many shapes and sizes as they are built to accommodate the space, giving you more options to suit your needs.

From an owners perspective, there are several pros :

Additional rental income
An affordable housing option for your children or in-laws
Extra living space for entertaining, setting up a home office or studio, etc.
A chance to downsize to a custom-built home and rent out the main house for additional income

There are some cons as well:

Laneway suites are expensive to build as they are custom designed to a space, must meet specific requirements and have tight or restricted access that can require special equipment to build
It can take years to realize a return on investment
Permit fees are a significant expense

Some homeowners are also taking advantage of this legislation to increase the value of their property by getting plans and approvals done prior to selling their home and including these in the sale. This can be an attractive option, especially for builders or other buyers looking to invest in a laneway suite, by having all the paperwork done for them.

Want to know more about laneway living and what options are available to you? Get in touch with me today!

Setting the Stage to Sell Your Condo

Fri, 19 Feb 2021 18:12:21 GMT

In my last post , I talked about how the condo market in Toronto is very much a buyer’s market versus much of the rest of the real estate market in the GTA and beyond. The pandemic has resulted in a bit of a downtown ‘exodus’ as many people seek larger, open spaces - especially those that are able to work from home.

And with a pause in immigration and international students seeking downtown rentals, many investors are looking to get rid of their condos, adding to the glut on the market.

If you are looking to sell your condo right now, you will need to work a bit harder to attract the right buyers at the right price. The good news is there are tried and true methods for doing this - and the most important involves presentation.

People are visual. While you may love your taste, it might not be for everyone. Like going on a first date, you want to take extra care to make sure everything is perfect. And like buying a new outfit, it may not be something you normally wear but you want to make a good first impression.

During this time of Covid, virtual showings and 3D staging are the norm so the visual presentation of your property is of utmost importance.

More than just a fresh coat of paint, staging is about preparing your condo for sale NOT simply redecorating. Staging is designed to present your home in its best possible light - from the placement of furniture to replacing those old cupboard handles to fixing that leaky faucet.

And remember what I said about first impressions, according to a BMO report on the Psychology of House Hunting , 80% of buyers know if a place is right for them as soon as they walk in the door.

And if your condo is on the smaller side, you’ll want to ensure it feels as spacious as possible . This is where a staging expert can be most effective.

Finally, plan to have some of your belongings in storage for a period of time or move them into another room to take pictures. In a buyer’s market, condos - especially smaller ones - are sitting on the market for weeks and sometimes months.

The good news is, studies show that properties that are staged sell faster than their unstaged counterparts. And not only faster, but typically for more. And with 3D staging, it can be done at a fraction of the cost of regular staging.

For help on getting your condo ready for sale, get in touch with me today. I have the tools, resources and experience to get your condo in buyer-ready shape.

Hidden Gems in a Buyer’s Market

Fri, 05 Feb 2021 15:27:05 GMT

Buyers, investors, renters…it’s past time to get moving. When it comes to houses in the GTA and beyond all talk is about a seller’s market - with double-digit multiple offers, bully offers, and no conditions being the norm in many areas.

But in Toronto’s condo market, it’s the opposite. According to TRREB, the number of condos for sale at the end of 2020 was up by double (sometimes triple) digits from the year before . And prices were down.

With immigration at a standstill, much of this excess supply is due to investors selling off their condo investments. Others are taking the opportunity to upgrade to larger units, while some are leaving the city for the suburbs.

All of this makes it an ideal situation for anyone looking to get into the market now - with more choice and more bargaining power. And with a return to seeing financing conditions as part of offers, buyers are back in the driver’s seat when it comes to condos.

If you’ve been on the fence about buying or thinking of buying your first condo , now is the time to jump. This market won’t last. Once vaccines start to roll out to the broader population and borders open up, demand will begin to outstrip supply and we’ll see prices going back up. And with mortgage rates still low it’s a great time to start building some real estate equity.

With this excess supply, there are many gems to be found in once hard-to-get into areas. The downtown core in particular - one of the most competitive areas for condos - has seen the most increase in listings.

And the luxury market offers some great opportunities now as well. If you’re looking to downsize from your home in Toronto - consider a luxury condo. When a big home is simply too much to manage, condos are a great investment with less maintenance. And you don’t have to compromise on luxury or space - from new developments to older condos - you have more choice than ever.

Whether you are looking for your first condo or looking to upgrade your current condo, get in touch with me today. Now, more than ever, it’s time to love, live, life in the city !

Condo Showing Safety During a Pandemic

Thu, 17 Dec 2020 20:40:24 GMT

Looking for something to do this winter? While we all tend to hibernate a bit during the colder months or head down south to warmer temps, this winter is going to be very different. Forced hibernation makes us itch to get outside. And travel?...well, that’s out of the window for now.

Luckily, real estate is an essential service - people still need to buy, sell and move for many reasons. If you are one of those people, now is as good a time as any to search for your dream condo.

And the good news is that, as the pandemic continues, safety measures for condo viewings - especially new developments - have just gotten better. Let’s look at what you can expect:

By Appointment Only

Virtual showings are the norm right now, but when a condo or new development catches your eye, nothing beats seeing it in person. You still can by making an appointment with your Realtor. Pre-screening will be required prior to confirming an appointment.

Appointments are private showings allowing you to explore properties at your own pace with the full attention of your Realtor to answer all your questions.

Proper PPE & Sanitization

In addition to screening, any in-person showing will require you to wear a mask - properly - and keep your hands in your pockets - no touching anything. As a Realtor, I’m equipped with proper personal protective equipment, including an N95 mask, face shield and gloves. Hand sanitizer will also be made available. Offices and units are properly sanitized before and after showings to ensure everyone’s safety.

So if you are in the market to buy but were thinking you would wait a few months to see if things start getting back to normal, there is no reason to wait. First, we may not get back to “normal” for a very long time. And second, many of the changes that have been made to the way we buy and sell real estate are actually really great and innovative and are likely to remain.

Take advantage of this ‘down’ time and get out this winter to do some condo shopping.

For more information on what to expect as a buyer in this market, give me a call on 647-716-1276.

How to Create a Home Office in a Small Condo

Thu, 10 Dec 2020 17:40:43 GMT

While we may be getting more used to pandemic life than we care to, trying to live and work in a condo can be difficult, particularly if you have limited space.

If you have a job that enables you to work from home, you’ve no doubt become quite used to it by now and the convenience of it has long worn off. But if you’ve been relying on the kitchen counter, the couch, your bed or all of the above as your office space, it’s time to get serious about creating a more structured workspace.

Separating your ‘office’ from your daily living space is more important than ever as more of us are forced to work from home. Not only does it help us work more efficiently, it’s also important for our mental health.

Often when we are at the office working, we need to step away from our desk to get some fresh air or take a walk to clear our heads. In other words, we need to separate ourselves from the work - even if just for a few minutes - to give our minds a break.

At home, in a small condo, in a lockdown, our options to take a break are limited. If your ‘office’ is anywhere in your condo, your ability to separate yourself from your work is nearly impossible.

Creating a dedicated space for your office can give you that sense of separation you need to clear your head and give yourself a break. But in a small condo, that can be a challenge.

Here are some ideas for creating a home office in a small condo.

Adjust your living room layout

Lighting is important for your workspace, so consider putting a desk in front of the window and rearranging your furniture behind it. Being in front of a window gives you a sense of openness as well as something to look at other than your apartment. It will also make your office space feel bigger.

Or get creative will a bookshelf or wall unit for a built-in work area.

Find a nook

Have a small nook in your living room, kitchen or even bedroom that’s not being used? Why not turn it into a little office space? With a bit of creativity you can maximize a corner nook.

For example, try a built-in desk or floating desk…

Or a fold-down desk that can be put up after you’re done work so you can “turn off”...

In the closet

While I’m not one for staying in the closet...these can be great locations for a nice, hideaway office. And the great thing about them is you can shut the door at the end of your work day and focus on your “me” time. Check out these innovative ideas.

With a little creativity, you can create a separate space in any size condo for your office. The ‘interweb’ is full of ideas and inspiration to get you started. The important thing to remember is to keep it as uncluttered as possible, clean and organized, so it doesn’t look crowded.

And feel free to reach out to me to tap into my passion for design. ‘Til next time.

Let's Be Real

Tue, 03 Nov 2020 16:33:21 GMT

Ok, let’s be real for a moment. We’re living in very different times and every aspect of our lives has been affected. Real estate is no exception.

If you were or are planning to buy or sell this year, there are so many mixed messages out there that it’s difficult to know what to do. One month the market is doing great and sales are breaking records. Another month no one wants to live in the city anymore so good luck getting your condo sold. Then someone says it’s a sellers market and listings are going as soon as they hit the MLS. What do you believe?

The fact is, it’s all true. The real estate market is not uniform across the GTA (or anywhere). Demand is up for detached homes in suburban and rural areas as the pandemic has forced people to reconsider their living space; prompting many to leave their smaller condos in search of a home with room to spread out, space for a home office and a yard to breathe some fresh air.

With detached homes still out of reach financially for many in the city, buyers have had to look to the suburbs and beyond. This has, in turn, created a surplus of condos on the market - especially within the downtown core. So yes, it’s a sellers market if you live outside the core and a buyers market if you’re looking in the core.

This doesn’t mean there aren’t opportunities on both sides. For example, with so many condos on the market it’s a great time to get into the under $1 million category with many older condos available for the first time in years. Buyers can be choosy right now.

And if you’re currently renting, you have an opportunity that hasn’t been available in forever (okay, at least since 2018 ), to upgrade your location at a similar lease amount or better.

New Developments

But the resale and leasing markets aren’t the only places to find opportunity. Some new developments are now offering more attractive deposit structures. And some luxury developments are offering some nice incentives.

Further, Covid has forced developers to create more secure, pandemic-ready buildings with better ventilation in elevator shafts, better layouts to facilitate social distancing and more.

One luxury development creating some buzz is 7 Dale , a 26-unit residential condo development in Rosedale. It’s a chance to enter this coveted neighbourhood starting at a mere $6 million.

But seriously, if you have a larger home in Toronto that’s becoming too much to maintain, a luxury condo is an ideal next step, particularly for newer developments. In most cases all the amenities you are looking for exist right within your condo - not in shared spaces - so they are very pandemic-friendly.

Luxury or not, the downtown core will always be worth the money, so look for the opportunity that is right for you. And for even more affordability, check outside the core as well. There are some great new developments happening in Scarborough right now for under $1,000/sq ft. Be sure to check out The Manderley condos in Birch Cliff.

And if you’re looking for something outside the city, I recommend the Debut condo development in downtown Barrie that’s only steps to the lake and with direct access to Toronto. It’s an exciting new development in this up and coming locale.

For more exciting new developments, check out the Condo Guide on my website.

Set Realistic Expectations

At the beginning of this post I talked about being real. In this current market, condo owners who are looking to sell need to set realistic expectations. The fact is there are so many condos on the market right now that the price your neighbour got back in January or February is not the price you’re going to get today.

If you need to sell because you have bought or are buying elsewhere, you will need to lower your price expectations. For higher-end condos, this “price adjustment” might be in the $200k range. Set your price too high and your condo will sit on the market, potentially for months. Set a lower, more realistic price and you may just attract enough buyers that you end up getting closer to what you’d like.

Looking for help navigating this confusing market? Get in touch and I will help you uncover the right opportunity for you so you can love, live, life in the city .

It’s a Weird and Wonderful Real Estate Market

Tue, 13 Oct 2020 20:44:10 GMT

This year has been unpredictable to say the least, and the real estate market is no exception. With Covid-19 restrictions hitting in mid-March, the normally hot spring market stood still. However, the normal hotbed of spring activity simply shifted to the summer as we settled into this new way of life.

We’ve just seen a record-breaking last two months , with Toronto’s housing market seeing a 40% increase in sales in August over last year. Combine that with a 20% increase in the average selling price, and it was a hot summer indeed!

While the condo market has been a bit more balanced, we did see increases of nearly 11% in sales across the GTA. And areas within the 905 have seen somewhat higher increases, with the “pandemic exodus” from the downtown core creating more demand in these regions.

The leasing market has also seen some big changes. Most notably, with the tightening of short-term rental rules , we saw a flood of furnished rental units hit the market earlier this summer. And many urbanites have taken full advantage. In fact, I haven’t had a pause in activity since June!

Experts are quite bullish about the fall market and Ontario real estate in general. From our handling of the pandemic to the current situation in the United States, we could see a flood of people entering the market when the borders open back up. And Toronto will be at the top of the list.

So if you’re wondering what your next move is this fall, contact me today .

Rare Opportunities in Real Estate

Wed, 22 Jul 2020 13:49:53 GMT

As we continue to navigate through this pandemic, we are all adjusting to new ways of doing things—new rules and protocols for everything from shopping to visiting with friends to the ways in which we conduct business.

It can be overwhelming at times. But amid all these changes, there are some positive ones. For me it’s a greater appreciation of friends and family, for taking time to work on myself and my own personal development, and for enjoying the outdoors and the beauty of nature.

And real estate certainly has not been immune to the effects of COVID-19. While homes and condos are still being bought and sold, the processes have changed significantly and in some ways improved, with such innovations as virtual closings .

While I think condo dwellers are feeling the effects of isolation more than most - due to relatively smaller spaces, restrictions in the use of common areas and longer wait times for elevators - it’s forced some of us to be a little more creative with our use of space and prompted others to make a move either out of the city or to a larger space.

This has opened up opportunities for buyers. A lot of amazing condos are becoming available. Rare properties once tightly held are now popping up on the market. If you are currently renting and thinking about buying or are looking to upgrade your current space, now is an ideal time to jump into the market.

Not only are some great properties becoming available, but interest rates are the lowest they’ve been in years. If you’re looking for that once-in-a-lifetime property, there is no better time than now.

And if you need some help finding these rare gems, get in touch with me today and let me help you love, live, life in the city again.

Surviving Isolation in Your Condo

Wed, 13 May 2020 16:19:02 GMT

I’m fairly certain that when you bought or leased your current condo, you didn’t expect to be spending so much time in it! We’re all adjusting to new living and working arrangements as we deal with this new isolation-led reality.

For condo owners, this can be an even more stressful time due to typically smaller living spaces plus the added complications of navigating shared spaces like elevators, stairwells and entrances. And getting deliveries can also be a challenge for some.

So how do you stay sane during this time?

One of the first things you should do, if possible, is create a space in your condo where you can go to relax, read or meditate. An area where you can be free from too many distractions. If you have a balcony, this can be a perfect place to help calm your mind by focusing on blue skies, trees, water or simply the beauty of the skyline, depending on your location.

The importance of this space is to separate yourself from negative distractions like the news, social media or even an annoying roommate! In times like these we need time to focus on positive things. Read a good book. Watch a funny movie. Have a fun Zoom party with friends. Practice mindfulness and meditation.

Exercise is also important for both your physical and emotional health. As we may not be getting out as much, and our condo facilities are closed, we need to find ways to get exercise indoors. Yoga, Strength training, Pilates and more can all be done in the comfort of your living room.

And more and more gyms and fitness experts are offering free sessions online, giving you many options for exercising at all times of the day. No excuses! Check out the Parlour Project , a local online initiative that offers a wide range of online classes for free from volunteers across the GTA, from yoga to strength training, meditation and more. Your local gym may be offering classes online. Personal trainers are going online. You have many options...maybe even more than before!

Above all, stay safe and respect others during this time. Especially our front-line workers who are feeling the stress of this pandemic more than most. Our brokerage recently set up a GoFundMe campaign called Feed the Need Toronto to help support our front-line workers. If you are able, consider donating to this worthy cause.

Want to know more about how the current pandemic has affected real estate? Give me a call on 647-716-1276 or drop me a line .

Some recommended reading and listening

Calm the Chaos: From Surviving to Thriving in 28 Days by Kelly White

The Happiness Advantage by Shawn Achor

Jon Kabat-Zinn - livestream meditations

Buying in the New Reality

Wed, 22 Apr 2020 15:25:55 GMT

It’s no surprise that some people might be hesitant to buy a condo or home in this new social distancing reality, especially when income has been affected and investments have been hit hard. Despite all this however, in Toronto, the market is still moving.

The fact is, for many different reasons people still need to buy and sell. As real estate is still considered an essential service, real estate associations, brokerages and agents have been finding new and innovative ways to keep things moving as smoothly as possible.

Fortunately, in today’s virtual world, all the tools needed are already available and many have been in use pre-pandemic. Throw in a little creativity and ingenuity, and we’re seeing real estate transactions continuing to occur.

So what does this new reality look like for buyers?

Here are some of the biggest changes:

Showings start virtually. Many brokerages like mine are making increased use of 3D walkthroughs for a more immersive visual experience, enabling you to better visualize a space. We also ensure floor plans are included so you know exactly the space you are getting.
Virtual open houses. In addition to 3D walkthroughs, agents are scheduling live video walkthroughs with the owner. This enables you to see a unit or home as the owner or agent walks through it, giving you the opportunity to ask questions, see specific details like what the inside of that closet looks like or what is under those stairs.
You can still physically inspect a place. BUT, you must be a serious buyer and will be required to sign a consent form essentially stating that you are free from any COVID-19 symptoms, have not been in contact with anyone that has it, have not been diagnosed with it and have not travelled outside of Canada in the last 2 weeks. In addition, safety protocols must be followed while on site, such as hand sanitization, use of masks and/or gloves, and no touching of anything in the home.
Wire transfers are the new normal. While we are all used to paying for things electronically these days, real estate deals are commonly done using certified cheques or money orders. Real estate lawyers are now being set up to accept funds electronically into escrow accounts. As a result, fees for wire transfers have been reduced to assist buyers with this process.

While the new reality may make the home buying process somewhat more challenging, the good news is that you can still buy (or sell) and mortgage rates are extremely favourable right now.

Want to know more about how the current pandemic has affected real estate? Give me a call on 647-716-1276 or drop me a line .

Condo Living and Virus Safety

Thu, 26 Mar 2020 14:52:59 GMT

Living in a condo means you are surrounded by other people. Unlike a detached house, you need to pass through common hallways, stairways, elevators and lobbies to go in and out of your home.

As we are all doing our best to stay isolated at this time, you may still need to leave your building from time to time, especially if you are an essential worker or you simply need to stock up on supplies.

From a number of weeks ago when hand sanitizers were placed in lobbies to the new reality where many common areas are now closed, condo buildings are doing their part to stop the spread of COVID-19. This includes daily maintenance and disinfecting of common areas to changing the way deliveries are handled.

Some property managers are wiping down lobbies, elevators and common areas every 15 minutes. And with increases in the number of deliveries, building staff are taking deliveries directly to a tenant’s door and ensuring they receive it.

While this may all sound extreme, extreme measures are what are required to flatten the curve and stop this virus from spreading. We all need to do our part.

Here are some tips to help you stay safe:

Keep your distance. Stay at least 6 feet away from other people. In elevators, pick your corner and face away from anyone else that might be in there.
Don’t touch. If you can, wear gloves and try not to touch railings, counters, door handles and other high use areas as much as possible.
Getting a delivery? Let your building concierge know and arrange for a safe pick up.
Wash your hands ! Need I say more.
Keep your condo clean . It is Spring cleaning season after all. While we have extra time on our hands, here are some great resources for cleaning your condo:

Cleaning supplies every condo owner should have
Cheap green cleaning products

Be sure to check with your building manager to see what measures they have put in place to keep residents and staff safe during this time. And if they are not doing enough, let them know!

Older Condo? Should You Upgrade or Sell?

Fri, 28 Feb 2020 21:12:58 GMT

If you live in an older condo building or have had your condo for many years, you may be facing a number of issues with your property, such as:

Increasing condo fees or special assessment fees to cover building maintenance
Increased maintenance & repair requirements within your unit
Accessibility issues due to aging

You may be at a crossroads. Do I fix or upgrade my unit to modernize it and make it more accessible to my needs, or do I sell and buy a more modern unit with the features that I require?

If you’re like many long-term condo owners, the thought of packing up and moving elsewhere is not appealing in the least. As a long-term resident, you know the area inside and out, have your daily routines nicely organized, know all the owners of your favourite local shops, and your friends and maybe even family, are close by.

So why would you give all that up?

Well, first of all, you may not have to. With the rate of condo development in Toronto, the chance of finding a newer unit with better amenities and the features you want close to where you are now, is greater than ever.

As we get older, more and more of us want to ‘age in place’. That means we need a space that is accessible , safe and adaptable to our needs. It also means we need to be in a location that is close to everything we need, from shopping to entertainment to healthcare.

When considering the pros and cons of upgrading vs. selling, make sure you weigh all the factors not just for your current situation, but long term.

Upgrades can be expensive and you may not be able to make the changes you need to ensure your unit meets your accessibility requirements - now or in the future. For example, you may find that some doors cannot be widened to accommodate a walker or wheelchair. Or your building may have stairs that at some point are going to be an issue for you.

With the current market in Toronto, now might be a good time to consider selling and using the equity you’ve built up to purchase a more modern, more accessible unit with the features you want and in a location that suits your lifestyle and needs.

Take the time to look at what’s available, what areas you would like to live in, what amenities and features are important to you. Talk to me and I will start working to find units that meet your requirements and one that could be your next home.

Don’t wait until you are in a situation where you have to move and end up having to settle on something that is less than optimal.

And if you need a Realtor that gives you their full attention, respects your wishes, and will make the entire experience of both buying and selling as stress-free as possible, please give me a call on 647-716-1276 or drop me a line . I’m here for you.

The Rent vs. Buy Debate in Today’s Market

Mon, 27 Jan 2020 17:44:35 GMT

With the price of housing today, especially in Toronto, it’s no wonder we hear more and more discussion about the benefits of renting vs. buying. There are many different opinions and perspectives. How do you know which option is right for you?

I don’t believe there is one right answer to this question. There are benefits to both. It comes down to your individual circumstances - finances, lifestyle and long-term goals.

The best way to decide which option is right for you is to look at both sides of the argument and be clear and honest about your goals and your finances.

Let’s look at the debate from both sides, given today’s market:

Renting in Toronto

Pros

Lower cost of entry
Lower monthly payments on average
Fewer maintenance costs
Freedom to move
Invest your savings

Cons

No equity-building
Lower quality unit
Less-desirable neighbourhood/location
Ability to customize

Buying in Toronto

Pros

Builds equity
More choice in quality/location
Can customize to taste
Have full control of property

Cons

Higher cost of entry/downpayment
Maintenance & repair costs
Carrying costs - insurance, taxes, etc.
(Potentially) less freedom

Now let’s break some of this down:

Finances

With a minimum 5% down payment required to purchase a property (and 20% the preferred), you would need at least $50,000 to purchase a $1,000,000 condo. With the average rent on a 1-bedroom condo (as of Dec 2019) at $2,300, your entry point is $4,600 (first and last) plus any additional security deposit.

So, depending on your financial situation and savings, renting may be the best option for you, at least for now. With typically lower monthly costs, you could invest those extra savings to build up a future down payment. Or, if home ownership is not a must, you could use those savings to invest in potentially higher-yielding stocks to build equity. However, this is easier said than done and will depend on your overall goals, financial savvy and comfort level.

Lifestyle

If you tend to move a lot or don’t like to be tied down, then renting offers you more freedom to both move around and do more of what you like. Without the stress or financial responsibilities of home ownership, you can spend more on travel, entertainment and other hobbies.

However, in Toronto’s current market there is limited rental supply, meaning it is harder to find a suitable unit in the location or neighbourhood you desire. And a recent report indicates that rents in Toronto may increase as much as 7% this year and that demand will exceed supply.

There is some good news here, however, with more purpose-built rental units being developed in the city, such as the Mirvish Village project .

As I said at the beginning, there is no right answer to this debate. It comes down to your individual circumstances and preferences. Where are you at?

Let me know in the comments below and as always, don’t hesitate to give me a call on 647-716-1276 or drop me a line to help find the right condo for you - whether it’s a purchase or lease!

5 Reasons to Sell Your Condo this Winter

Wed, 18 Dec 2019 16:28:19 GMT

Oh, the weather outside might be frightful...but selling your condo might be oh so delightful! We often hear that Spring is the best time to list your property for sale. And while the warmer air and budding trees can bring more traffic to your property, there are 5 great reasons to consider a winter listing.

1. You are competing against fewer properties

Since most people wait until spring to list their property, there are fewer condos on the market during the winter months. And that means more visibility and interest for your property.

2. Buyers are more serious

While you may see less traffic to open houses and fewer showings, you can bet that those who do make an effort to see your property are serious buyers. Think about it. Not many people are going to don their boots and parkas and trudge through snow, sleet and whatever else winter throws at them, just to window shop. If they’re braving the weather, they’re serious.

3. Relocation, relocation, relocation

Did you know that January is the biggest month for corporate relocations? Whether it’s new budgets, new business plans or new directions, many companies relocate employees at the beginning of the year. This means buyers may need to find a place quickly.

4. Bonus time

The end of the year is a big time for holiday and year-end bonuses. As well, people often retire at the end of the year and find themselves with an extra-large payout. This extra cash may prompt some potential buyers to consider a move sooner.

5. More money potential

It’s simple economics - supply and demand. With fewer properties on the market, serious buyers will not want to miss out on a property, so you’ll find fewer low-ball offer tactics. In fact, sold to asking price ratios tend to be higher in winter.

If you are thinking of putting your condo on the market soon, consider the benefits of a winter listing. And if you do, here are some great tips for getting your property winter-showing ready.

And as always, don’t hesitate to give me a call on 647-716-1276 or drop me a line to help get you started.

How to Get Your Condo Ready for Winter

Fri, 29 Nov 2019 19:09:38 GMT

Prepping your condo for winter? It’s not like you need to shovel the driveway! But there are certainly things you can do to ensure you stay cozy and warm in your condo this winter.

Maintaining a comfortable temperature can be a tricky one for some condos. Depending on the size and number of windows you have, as well as the direction your unit faces, your condo could end up being too warm or too cold during the winter months.

Here are some tips for keeping your condo comfortable:

Check your windows
Ensure your windows are properly sealed to prevent warm air escaping and cold air getting in. If the sun is making your rooms too warm, consider installing blinds that keep the heat from the sun out. Alternatively, you could apply some window insulation film that helps to reduce heat transfer.
Adjust your humidity
We all need to add a little extra moisturizer in the winter as cold air dries out your skin. Consider a humidifier for the winter months to ensure there is enough moisture in the air. This can also make your room feel warmer. Monitor the humidity level though. Too much and you could end up with condensation on your windows and eventually damage to floors or walls. Too little and you could start seeing cracks in wood floors, cabinets, doorframes and more as this can cause wood to shrink.
Keep your heating system running
It may be tempting to conserve energy during the day when you’re at work by turning off the heat; however, turning your fancoil or heat pump off completely can cause problems. Simply turn your heat down while you’re away as this will keep the components in your system active and running and prevent the risk of sticking or jamming on restart. Ensure your filters are clean as well to ensure proper air flow.
Use your ceiling fan
Ceiling fans are a great way to help regulate the temperature in your condo. If your unit is too warm, turn your fan on counterclockwise. The airflow created from pushing the air down will help to cool you off. (You can also use your kitchen range hood and bathroom vent to draw warm air out of your unit.) To warm things up, use the clockwise direction on a low setting to circulate the warmer air that has risen to the ceiling.
Rug it up
If your condo has all hardwood, laminate or concrete flooring (as many newer ones do), you could be stepping on a cold floor when you wake up in the morning! Consider adding some area rugs throughout your unit to provide some extra warmth (and style!) during the cold months.

Got a hot tip for staying warm and comfortable in your condo this winter? Let me know in the comments below.

And as always, if condo hunting is on your mind, give me a call on 647-716-1276 or drop me a line .

East vs. West: The Great Debate

Fri, 25 Oct 2019 18:19:11 GMT

Are you a west-ender or an east-ender? The age-old dividing line of east versus west is as much a part of Toronto life as it is in most major cities. Which side of the Yonge Street “fence” do you sit on?

If you’re looking to buy or invest in a condo in Toronto, is there a better side? I happen to live on Yonge Street, so I’m going to claim neutral territory here. But the answer really depends on a number of factors.

For buyers, the biggest factors to consider are price, lifestyle, amenities, commute to work and proximity to friends and family. As an investor, you’ll also want to consider growth potential.

Let’s break some of these factors down on each side.

From a price perspective, the east side of Toronto is typically a lower cost per square foot than the west side, depending on how close you are to the downtown core. Bottom line? Depending on how close you want to be to the core, there are affordable options on both sides of Yonge.

For everything else, it really comes down to your personal preferences and lifestyle. If you have a car, but hate traffic, well...you probably shouldn’t live in Toronto(!). Seriously though, if you do tend to drive more, the east end is a little easier to get around in than the west.

If you’re looking for a hipper vibe, loads of entertainment and restaurant options, along with cutting edge fashion, the west end may be more to your liking. Most of the big sports and theatre venues are here, there are more restaurants and for hip fashion, you can’t beat Queen West.

If you like to take things a little bit easier, on the east side you’ll find more breathing space with more parks, the Beaches (need I say more), the Leslie Street Spit and proximity to some great cultural neighbourhoods like the Danforth (Greektown), Little India and more. You’ve also got the Distillery District, St. Lawrence Market and Evergreen Brickworks.

Developments to keep an eye on

East of Yonge, I’m excited about The Saint at Church and Adelaide. In the heart of downtown, you’re close to everything from shopping to entertainment.

A little further east and you’ll find some new developments happening in the Danforth area and Leslieville and with transit improvements set for this area, it will become even more accessible to downtown.

Another exciting development to watch is East Harbour . This 38-acre new development will transform the old Unilever site into a mixed use commercial development containing “office and retail sites, cultural and public spaces, entertainment, parks and restaurants, all threaded within a highly walk-able, bike-able environment”. While there are no residential condos planned for this area, it will certainly spark new developments and opportunities nearby as it is expected to accommodate 70,000 jobs.

West of Yonge, there are many exciting new developments happening. I was involved in the pre-sale of 1181 Queen Street West , a bold new development by Skale. Then there is BIG King in the heart of the Fashion District, which promises to be both distinctive and innovative.

Check out my Condo Guide page for more new developments. Or better yet, give me a call to talk about which area is right for you. I’ll show you around the different neighbourhoods so you can get a feel for what it would be like to live there, how to get around, where to shop, get the best coffee, and more.

East or west, give me a call on 647-716-1276 or drop me a line here .

Fall Pre-Construction Condo Opportunities

Wed, 25 Sep 2019 22:16:03 GMT

With summer officially coming to an end, it’s time to turn our attention to the fall market. This is typically the time of year when real estate activity heats up again, even as temperatures start to cool!

If you live or work in the downtown core, you can see how much activity there is in the condo market with new developments going up all over. In fact, as of one year ago, there were 236 condominium buildings under construction in the GTA...or 67,581 units!

Although these numbers may indicate there is a lot of inventory coming on the market - projects under construction are already 95% pre-sold on average. However, there are more new developments hitting the market this year with Toronto’s real estate market showing no signs of slowing down.

For investors, Toronto’s condo market is still a great investment and with a fast-growing population, there is a strong demand for rental inventory. And with high rental rates and the lifting of rent control on new units, there is potential to have your mortgage paid down faster.

Pre-construction also offers a great opportunity for investors to generate even better returns. Paying today’s prices for a condo that won’t be built for a few years, can mean it’s already appreciated in value by the time you take possession. We call this pre-construction appreciation.

As a potential buyer, higher rental rates may make owning a condo a more attractive option, which may help explain the surge in condo sales earlier this year. In addition, with interest rates poised to lower , now might be a good time to buy.

Check out some of the new and upcoming developments we’re keeping an eye on.

To discuss your options or find a condo that is right for you, give me a call on 647-716-1276 or drop me a line here .

Living the High Life - Which Floor is Best for You?

Mon, 19 Aug 2019 15:01:40 GMT

When buying a condo, especially a pre-construction condo, the higher the floor, the better. At least that is what most people will tell you. But is it always the case?

There certainly are many benefits to higher floors, but lower floors and ground floor units also have benefits. Your choice of floor should be based on your needs and preferences, as well as your budget.

And of course, the size of the building and its location are also key factors to consider when choosing a floor that’s best for you. Here is a quick overview of the pros and cons of different levels in condo buildings.

Ground Floor

When available, ground floor units can be very attractive as they can offer more outdoor space in the form of terraces or gardens. Let’s look at the pros and cons of the ground floor.

Pros

Cooler in the summer (heat rises)
Easy access - no elevators or stairs to take making these ideal for seniors or those with disabilities
Closer to your car and storage unit
No one below you so less chance of annoying your neighbours
Safer in emergencies
Some developments offer unique, sometimes larger floor plans for ground-level units
And as mentioned, they often have larger terraces or gardens

Cons

Security - potentially easier access to windows and doors
Views - you won’t have sweeping views of the city but a beautiful garden might be more to your taste
Less daylight (but that also means less heat in the summer)
Privacy - depending on your location your windows may be visible from the street
Noise & pollution - you’re closer to traffic and the dirt and pollution from the street
Price - in some developments, ground floor units come with premium designs and features and therefore, a premium price

Lower Floors

Depending on the size of the development, these pros and cons may also apply to mid or low-rise buildings.

Pros

Easier access than upper floors - less time in elevators and stairs are more manageable
Closer to your car and storage unit
Safer in emergencies
More daylight than the ground floor and better views
Potentially less traffic noise, dirt and pollution (most will find street noise a non-issue from about the 7th floor and up)
Less expensive than higher floors
More privacy potential than ground floor
Security - windows and doors are not as easily accessible to intruders
For investors, a greater potential for profit in the short term

Cons

Noise and pollution may be an issue depending on floor
Views may be obstructed by neighbouring buildings
Balconies may be smaller, however some modern developments provide extra terrace space at these levels
Prices go up as you go higher (an average of $1000/floor after a certain threshold)

Higher Floors

If you are looking at a high-rise building or penthouse suite, the biggest attraction of the higher levels is the view potential.

Pros

Obviously the views! The higher you are the more breathtaking the views
Little to no noise pollution (and less pollution overall)
Lots of daylight
Higher resale value and can command more rent (for investors)
Security - you can probably leave your windows open without fear of intruders
Often you will find enhanced suite designs or more bedroom options the higher you go
Higher return on investment over the long term

Cons

Cost - you will pay a premium price the higher you go with an average of $1000 per floor
Accessibility - longer elevator rides will add to your commute time and you’ll have a harder time getting out of the building in an emergency
Temperatures are warmer due to hot air rising so you may spend a bit more on air conditioning

So which floor is right for you?

Let me know your thoughts in the comments below or send me an email with any questions you might have about buying a condo.

Honestly...Mirvish Village is Going to Be Amazing!

Mon, 15 Jul 2019 17:42:52 GMT

It’s hard to believe it’s been nearly a year and a half since Honest Ed’s closed its doors for the last time. The once iconic building is no more and construction has begun for the new mixed-use Mirvish Village development from Westbank Corp.

With excavation of the site well underway, the installation of three tower cranes at the base of the pit marks the most recent milestone for this development. And newly released renderings provide a detailed look at the future look of the northeast corner of Bloor and Bathurst.

What’s exciting about this project is that it’s more than just another highrise development. The new Mirvish Village will both honour and extend the history of this Toronto neighbourhood with mixed-use micro towers and a covered market. It is designed to function as a complete community and will be a vibrant urban space for both residents and visitors.

“Mirvish Village will be a transit-oriented urban hub encompassing retail, residential, and an array of civic spaces. ...[It] will accommodate a vibrant, diverse community, providing an exceptional quality of life and complement the existing fine-grained retail and residential fabric of the neighbourhood.” (mirvish-village.com)

According to Westbank, “Mirvish Village will be an innovative collection of smaller buildings with a fine grain character and generous public spaces that put pedestrians and community interaction first.”

From a residential perspective, this location will be 100% rental housing with over 800 units of different types and sizes, including a large percentage of two and three bedroom units. This will provide some much-needed options for families with children in the downtown core.

From a retail perspective, a 25,000 square foot market area will accommodate over 30 permanent vendors, as well as 40 temporary stalls, covered by a soaring roof for year round activity. And Honest Ed’s Alley will provide a home for local retailers, micro start-ups and pop-up vendors, supporting the small business and entrepreneurial community.

And finally, from a public space perspective, the Village will be built around a “pedestrian-oriented public realm that encourages community vitality, prosperity, and cultural sustainability.” With a focus on public art and creativity, the area will pay homage to the Mirvish Village art colony of the 1960’s.

There is so much more that is exciting about this development, from environmental sustainability and rooftop gardens to bike share solutions, you’ll want to keep your eye on this area.

For more on this and other exciting developments happening downtown, contact me today !

The Accessible Condo

Thu, 13 Jun 2019 19:07:21 GMT

In my years in real estate, I’ve worked with a number of seniors looking to move to a newer, easier to manage condo. As buildings age, they need more maintenance and repairs. And as we age, we sometimes need the same!

Newer, modern condos allow us to spend less time fixing things and more time enjoying life. However, another big consideration is accessibility due to health or mobility issues.

Finding a condo that is accessible - not just for seniors but for anyone with physical disabilities - is a challenge. Even though a building might advertise itself as accessible, there are varying levels and definitions of accessibility and some buildings just outright lie.

There is a difference between “wheelchair accessible” and “barrier-free”. Buildings that advertise as “visitable” aren’t necessarily “liveable” if you need mobility devices to move around. “Visitable” simply means you can get a wheelchair through the door and use the washroom. Finding an accessible condo that meets your current or future needs will require some research.

The cost to retrofit an existing unit can run into the tens of thousands of dollars. It is typically far cheaper to build in the accessibility features you need at the pre-construction planning stage.

Some developers have taken notice and are being more proactive in developing accessible condo units. The Daniels Corporation, for example, introduced their Accessibility Designed Program (ADP) a few years ago specifically for buyers with mobility devices.

When assessing the accessibility of a unit, especially if you need, or anticipate needing, a mobility device such as a wheelchair or scooter, consider the following:

Doorways - the Ontario Building Code (OBC) requires accessible doorways to be at least 34 inches wide.
Kitchen layout - lower counters and cupboards, under-sink clearance, cooktop clearance and enough space to maneuver around an island.
Bathroom layout - the OBC only requires a minimum turning radius for a bathroom to be accessible. For those with mobility devices, a roll-in shower without a threshold barrier means you can get in without help. Toilet and grab bars, as well as a handheld shower head, are also important considerations.
Balcony access - check for a level threshold and a wide door to ensure you can access the balcony.
Floor coverings - hardwood floors are easier for wheelchairs to get around. However, if you’re at risk of falling, carpeting may be a better option.

If accessibility is on your list of requirements for your next condo, get in touch and I will help you find a unit to suit your needs.

Registering for Access to Pre-Construction Condos

Thu, 23 May 2019 15:03:16 GMT

What you need to know

There are a few ways to buy a condo. You can buy an existing one, a new one or one that has yet to be built. The first two options are fairly straightforward and similar to buying a house.

However, buying a pre-construction condo is a whole different ball game. In a previous post, I talked about what you need to know before buying pre-construction . In this post, I want to cover the often misunderstood process of registering with an agent or brokerage for preferred access to units before they become open to the public.

Referred to as Platinum VIP and VIP access, there are actually several stages a developer releases units through. And this is why, buy the time doors open to the public, a building can be 75-90% sold.

The stages generally go like this:

Friends and family
Platinum VIP
VIP - there can be a few releases at this level
Open to public

So if you are interested in a particular location, if you’re not a friend or family member of the developer, you’re first opportunity for access to a unit is to register with a Platinum VIP agent.

Platinum VIP Access

There are only so many Platinum VIP Realtors in the GTA and they don’t work with all developers. Platinum VIP agents are each given a specific allocation of units in a building that they have the exclusive right to sell.

Platinum VIP agents are given this early prime allocation because they have built up trust with the developer by consistently bringing serious high quality buyers to the table. Because of this, they get the best pricing and incentives for their buyers at this early selling stage.

If you are serious about buying a unit in a particular development, be sure to find a legitimate Platinum VIP agent for that building. You will see lots of ads “pre-selling” new developments and encouraging you to register for access. Unfortunately, this is often just a sales tactic to get your contact details and they may not have any units allocated to sell.

VIP Access

Once the Platinum period has passed (typically 2-3 weeks), the next round of allocations goes to VIP agents. Similar to Platinum, VIP agents are given a specific allocation of units to sell for a limited period of time.

Depending on demand, the pricing of units will be slightly higher at this stage.

Open to Public

At this stage, the developer’s sales centre is open to the public directly to sell any remaining units. Buyers can now purchase directly from the developer, without needing an agent. At this phase, prices will be higher again and are typically in the $1 million plus range (depending on location and demand).

What You Need to Know

Your best bet to secure a condo in a new development is to get in at the early VIP stages. However, you will need to be prepared to act quickly . These phases are only available for a limited time and to a limited number of agents, so units can go fast.

Be ready:

Meet with your Platinum VIP or VIP agent when you register with them to get all the information you will need when decision time comes
Have your mortgage pre-approval organized
Ensure you have all necessary ID, including your SIN number
Have your deposit cheques ready - typically $5,000 to $30,000 at signing, 5% in 30 days, 5% in 60-90 days and 5% in 90-270 days

Finally, regardless of which phase you get access to, pre-construction pricing will always be cheaper than waiting until the building is complete. You also have a better chance of getting the unit you want.

To learn more about the ins and outs of buying pre-construction, give me a call today .

What Goes into Pricing a Condo

Thu, 25 Apr 2019 17:34:09 GMT

Why are condos so darn expensive?

If you love life in the city like I do, the convenience, amenities and services that condos provide make them a preferred choice, especially for first-time homebuyers.

But at an average of $1,000/sq. ft. for a new condo in the downtown core, the dream of home ownership is still out of reach for many.

I’m often asked - particularly when it comes to pre-construction condos - why are condos so expensive?

It’s easy to think that developers are just greedy and are taking advantage of a higher real estate market. This isn’t the case. As a realtor that specializes in the condo market, including pre-construction, I’ve worked with a lot of developers over the years. It might surprise you to know what goes into the pricing of a condo.

Let me outline it here:

Location/land cost

Years ago there were many building sites available to developers downtown. Take a quick look around today and you can see that availability is no longer so abundant. This lack of supply means higher prices are being paid for land as developers fight to get good locations.

The cost of the land alone can account for 25-35% of the condo price.

Materials and labour

The cost to build a condominium has been steadily increasing over the past few years. According to Stats Canada, new residential construction costs in Toronto have increased by 8.3% each year for the past few years.

Tariffs imposed by the Trump Administration on critical materials such as steel, aluminium, rebar, concrete and soft lumber are having a significant impact on costs. According to Normac , it is estimated that these tariffs will add more than $10,000 to condo and home prices.

Labour costs have also been steadily rising over the last number of years - mainly due to a skilled labour shortage.

Soft costs

Then there are all the other costs associated with building, outside of the hard costs of land and construction. These include costs such as:

Architectural - designs, blueprints, floor plans, schematics, etc.
Legal, zoning, permits. Planning application fees alone are significant.
Sales and marketing
City of Toronto development fees have a big impact. For example, effective November 1, 2018, the development fee for a 1-bedroom apartment unit is $24,150. Here’s a direct link to the full fee breakdown: https://www.toronto.ca/wp-content/uploads/2018/09/98f6-DC-Rates-Effective-Nov-1-2018.pdf
Plus additional costs for city parks, schools, tieback payments for neighbours affected by construction and a 1% Public Art Program contribution.

Future costs

In addition to all these costs - which we can calculate at any point in time - developers must take into consideration future costs. The time from planning to the actual completion of a building can be several years. Developers pre-sell units to ensure they have enough funding to completion and therefore need to factor in the future cost of materials and labour.

This can be a significant risk for a developer (and buyer!) if this is not done correctly or economic circumstances change dramatically.

The good news

While condos may not be the cheap alternative they were years ago, the fact is they are still a more affordable option to houses in the city. And while new construction condo prices may be rising, there are lots of resale condos available to get you in the market.

And there is good news on the horizon. According to the Toronto Star, the Toronto condo market is expected to moderate in 2019 as a record number of condo completions brings more supply, helping to slow down price growth.

The bottom line is it will always cost more to live in the heart of a big city, but affordable options are out there.

Get in touch with me today and I will help you find the perfect condo in Toronto.

How to Create Space in Your Condo

Mon, 18 Mar 2019 16:08:15 GMT

I love living in the city and the lifestyle it gives me - proximity to downtown Toronto, easy access to public transport, local shops, entertainment and much more. It’s why I love buying and selling condos with my clients - helping them find their place in the city to suit their lifestyle. Condos can have challenges, like storage space.

Living comfortably in a smaller space requires a bit of compromise. And this compromise usually comes in the form of storage.

Here are some of my favourite tips for getting the most out of smaller spaces.

Tip #1 - Mirror, Mirror on the Wall

An oldie but a goodie. Mirrors help create the illusion of a larger space.

Place mirrors strategically where they will reflect light coming in through windows. Mirrors that bounce light into a room make the room appear larger.

Tip #2 - Create Space with Colour

The right paint colour will also create the illusion of space. Light colours, such as white, reflect more light and make a room feel more open and spacious. Since darker colours absorb light, they can make rooms feel smaller so use them sparingly or as accents.

Tip #3 - Stay Tidy

Mess and clutter can clog up your living space and make it feel cramped. The more items you can keep off the floor, the more roomy your space will feel. Keep larger items tucked away in closets or storage bins.

California closets are a great option for the bedroom to keep all your clothes and shoes in one place, eliminating the need for dressers and other bedroom storage that take up valuable living space.

In the kitchen - another place that can get crowded quickly - minimize the number of items, such as small appliances, on your counters to keep them as clear as possible. Use drawer organizers to maximize the space within cabinets, while ensuring items are easily accessible.

Channel your inner neat freak!

Tip #4 - Double Duty

Another way to stay tidy is to get clever with storage. Choose furniture that doubles as storage space such as ottomans, tables with drawers or lift-tops, beds with storage underneath or in headboards.

You can also choose furniture that serves more than one purpose, such as banquets for seating and storage or deep sofas that double as a guest bed.

Tip #5 - Plan Ahead

This tip applies to those buying pre-construction. All condos come with some form of storage space, typically in the form of closets. But closet space is not always well thought out.

Closets typically create walls and door frames that take space away from your square footage. In these cases I often recommend making adjustments to your floor plan to remove these closets, opening up much needed square footage and allowing you to create your own storage space.

For example, by removing the closet door and wall framing, you could create a floor to ceiling storage solution, providing you with both improved storage and more living space.

Got a tip of your own to share? Add it in the comments below.

What to Know Before Buying Pre-Construction

Tue, 05 Feb 2019 00:00:00 GMT

If you’re not in a hurry to move, buying a pre-construction condo can gain you savings over an existing, resale unit. However, there are important differences you should be aware of.

Your Style

With a new condo, you have choice in the style of unit, interior finishings and colour schemes.

Save Up

While your condo is being built, you have time to build up your savings both for your downpayment and for closing costs.

Higher Down Payment

With a pre-construction condo, you will need to put 15-25% as a down payment. However, this does not have to be paid all at once and is usually spread over a period of time up to closing.

Adjustments

New condos are subject to HST, which is included in the purchase price. You may, however, qualify for the GST/HST New Housing Rebate program . Please discuss this with your tax accountant as you will need to apply directly through the CRA to receive this rebate from the builder. You may also face additional costs at closing, such as utility connection fees and other adjustments.

10-Day Cooling Off Period

When you sign a contract to purchase a pre-construction condo, you have 10 days to review your contract in detail to ensure you agree to all of its terms or to request any changes. Be sure to use this cooling off period to fully understand the terms of your contract.

Rent Before You Own

You may be able to move into your condo before the entire building is complete. In these cases, you pay rent to the developer - known as interim occupancy - until the building is registered and you take title. This ‘rent’ has nothing to do with your mortgage, which doesn’t come into play until you take title ownership, so you should factor in this potential extra expense at purchase. Interim occupancy fees are calculated based on the balance you owe the builder and are usually 1-2% plus the building's insurance and maintenance fees.

Do Your Research

There are many benefits to buying a pre-construction condo, but there are some risks. Your best course of action is to do your research so there are no big surprises. Research the builder - their reputation, history, and experience. Look at the company that will be managing the building and check their credibility and reputation as well.

Note too there are smaller builders with boutique sites who build very well but don’t have enough experience yet to rate well. Sometimes you have to take a risk on the smaller developer to get the right location and size.

As a pre-construction specialist, I’ve worked with many reputable developers in the city and understand the process and what you need to know. I will help you navigate this more complex condo-buying experience.

The Best Ways to Get Around Toronto

Tue, 29 Jan 2019 00:00:00 GMT

Love it or hate it, one of the best ways to get around Toronto is by public transportation, more commonly referred to as the TTC (Toronto Transit Commission). No matter where you need to get to in the city, there is a subway, streetcar and/or bus to get you there.

TTC

Named the best transit system in North America in 2017 by the American Public Transportation Association (APTA) - much to the chagrin of many of its daily users - it is not without its flaws. Delays, overcrowding, and track work can hamper daily commutes, but there have been many improvements made in recent years. It remains the most economical way to get around Toronto - excluding walking or riding your bike, of course!

Taxis/Uber/Lyft

If you need to get somewhere quickly and directly, taxis are fairly easy to come by in the downtown core (except maybe in bad weather when everyone seems to want one!). However, it is not the most economical and taxi fares can add up quickly.

With Uber and Lyft now operating throughout the city, you may find these better alternatives. With their booking apps, it makes it easy to find a ride quickly, see who your driver is, have your destination mapped out and pay through the app without having to worry about whether or not the taxi driver will accept your credit card.

Car

If you really need to take your car, Toronto’s grid system makes it fairly easy to get around. The more you get to know the city, the easier it gets as you learn about the little lane way detours, places to avoid and where the best parking is.

As a Realtor, I drive a lot in the city and love to show my buyers the best ways to get around the neighbourhoods they are exploring.

Walking

If you live and work in the downtown core, walking is a great way to get around - even during the cold Winter months. The tall buildings provide a lot of protection from the elements and the underground PATH system can get you virtually anywhere in the core without having to step foot outside.

Bikes

Finally, if you’re so inclined, Toronto has a Bike Share program of 3,750 bikes across 360 locations around the city. From single trips to annual passes, it’s a healthy and efficient way to get around the city.

What’s your favourite way to get around Toronto?

Tips for Preparing to Move

Tue, 22 Jan 2019 00:00:00 GMT

Let’s face it, moving is stressful no matter what your situation. If you’re downsizing, what do you do with all that extra stuff? Will your furniture work in your new place? Will it fit? Then there are all the service disconnections and reconnections. The list can seem endless.

It’s also an exciting time and my goal is to help you enjoy the experience by minimizing the stress.

If you are moving out of one place and into another, I will ensure your home is prepped and ready for sale and provide you with the resources you need to transition to your new home.

From decluttering services to temporary storage and staging, your home will sparkle and show its best side to buyers. And if renovations are needed, I have the resources you need to get them done and will manage it all for you.

Here are some quick tips for preparing your move:

Plan ahead. The further out you can start planning, the less stressful your move will be. Research and hire a mover early to ensure you are ready and booked for moving day. You don’t want to settle for “Joe’s Pretty Good Movers Who Don’t Break Much” because you left it too late.
Create a budget. In addition to moving costs, consider purchases for your new home, service connection and disconnection fees, repairs and other costs to get your house ready for sale.
Take inventory. Identify items you’ll be taking with you, items to sell or donate and things to recycle or throw away. Start collecting boxes and pack a little every day.
Address changes. Make a list of important people and items that will need to be updated, like friends and family, your doctor, your driver’s licence, banks, the payroll department at work, subscriptions, etc. Ensure you have mail forwarding in place to catch anything you’ve missed.
Pets. Make sure your pets have a safe place to be during your move. This is a stressful time for them and open doors on moving day can make it easy for pets to escape. Consider boarding them for the day or having a friend watch them.

Buying Your First Condo

Tue, 15 Jan 2019 00:00:00 GMT

Buying a condo is different than buying a house. There are building rules, shared spaces, condo fees, and more. It is important to understand the rules before you buy to ensure there are no unwanted surprises - especially if you are buying pre-construction.

You will also want to consider the neighbourhood you are moving into. Look beyond the building itself to ensure the area has the amenities and lifestyle that you desire.

And remember, your first condo is not likely to be your last. When you’re starting out in the real estate market, you may need to compromise and be a bit more flexible in your search. You may decide on something a bit smaller to get in the neighbourhood you want or look at other neighbourhoods to get the size of unit you want.

Whatever you decide, a condo is a great investment and enables you to build up equity to get you closer or to your ideal property further down the road.

I can help you navigate the world of condos to ensure you have all the information you need to make an informed decision on your first condo purchase. Let's talk!