Monthly Archives December 2015

The 3 Most Common Reasons a Home Inspection Kills a Deal

  In this Redfin.com post, home inspector Dylan Chalk underscores the importance of a home inspection by identifying how they can prevent a potential sale.  The most common reason is the home is not what it appears to be, especially in the case of a “flipped home”, one purchased and updated with the intention of making as much profit as possible.  The inspection reveals there are more repairs and updates than the buyer expected.  Problems with the core systems of a “fixer” house (foundation, frame, roofline, floor plan, drainage and access) add cost and complexity to the new homeowner’s projected budget making the deal less attractive. To read more click here. The post The 3 Most Common Reasons a Home Inspection Kills a Deal appeared first on Team Realty. Source: Blog

Reno Investments Providing the Highest Returns

This detailed Home Inspection Network post provides useful data to anyone who is considering a home renovation. Author Bev Siciliano begins by explaining what many do not realize – we might not fully recoup our investment when the home is sold.  For that reason alone, home renovations should be analyzed individually to ensure we get the highest return on investment (ROI).   Generally, renovations that provide the best return on resale are superficial upgrades, like painting and decorating, with limited capital outlay and maximum impact.   According to the Appraisal Institute of Canada’s latest Home Renovation Survey, renovations with the highest return potential are kitchen and bathroom renos at 75 -100%, followed by interior and exterior painting at 50 – 100%.   Skylights rate the lowest potential return on investment (ROI) at 0 – 25%, with swimming pools at 10 – 40% and landscaping, fences and interlock at 25 – 50%.  Central air, decks, window/door upgrades, fireplace installs, rec room or garage additions, new flooring, and basement renos have a potential ROI of 50 – 75%.  To read more click here. The post Reno Investments Providing the Highest Returns appeared first on Team Realty. Source: Blog

What You Need to Do When Saying Goodbye to Your Home

  Although you’re excited about moving, there are easy ways to reduce the ache you feel when thinking about leaving the old abode.  According to this Realtor.com post by Lisa Davis you could throw a going away party with the neighbours who shared your journey over the years.  Toast your soon-to-be former residence. Leave a reminder of your presence for future generations like a signature on a rafter in the attic. To read more click here. The post What You Need to Do When Saying Goodbye to Your Home appeared first on Team Realty. Source: Blog

The Do’s and Dont’s of Basement Storage

  This article from Bob Vila gives eight handy tips to consider when using your basement for storage.   The suggestions include taking advantage of vertical space by building up and not out, using open shelves for frequently-used items and built-in cabinets to conceal toys or cleaning supplies, storing off-season gear in sealed bins to protect from moisture and dust, using a pulley-hoist to store heavy or bulky items from the ceiling, protecting tools stored in the open with a coating of machine oil to prevent rust and running a humidifier in the basement to suck moisture from the air and combat mold or mildew.  To read more click here. The post The Do’s and Dont’s of Basement Storage appeared first on Team Realty. Source: Blog

Is It Time to Downsize? Ask Yourself These 4 Questions First

  If you’ve reached the time of life where you are contemplating downsizing your home, the first question to ask, according to this Realto.com post, is what kind of lifestyle do you want after downsizing? By defining how you want to live, you can narrow your search and focus on housing that will meet those requirements.   For example, if you want to escape the bluster of winter and relax on a beach, local climate conditions and geography will drive your hunt. Or, if you like social activities, you would seek active adult communities where you can interact with like-minded people.   The next step is to consider the financials by asking what will you budget  look like?  After that, ask yourself if you have enough equity in your home to make a profit.  If you have enough equity, you can buy your next home outright or bring a sizable down payment on closing day.   Finally, ask if you will be able to find another home that’s affordable in a seller’s market.  For those with some financial clout,  realtor Debra Whitfield recommends using an equity line of credit on your current home or a home equity conversion mortgage to buy your next home, before selling your current property.  That gives you time to find a suitable property instead of being rushed to select whatever happens to be on the market after your house is sold.  To read more click here. The post Is It Time to Downsize? Ask Yourself These 4 Questions First appeared first on Team Realty. Source: Blog

What’s the best property type for your first home?

  Inexperience can cause first time home buyers to be confused by the multitude of available options. This post by Caroline James is an excellent introduction to the advantages and disadvantages of five popular property choices: a large detached house on a suburban block, a small home on a sub-divided lot, a townhouse, an apartment in a small block and an apartment in a high rise block. To read more click here. The post What’s the best property type for your first home? appeared first on Team Realty. Source: Blog

8 Mistakes That Could Screw Up Your Home Sale

  Usually we hear “buyer beware”, but real estate author Michael Corbett advises sellers to beware and gives 8 reasons why in this trulia.com post.  Always work with professional help, including a real estate agent.  Their expertise, experience, neighbourhood knowledge and resources will help you plot a course through the selling process.   Overpricing is a temptation to be avoided since most buyers are savvy and have the advice of an agent.  Ensure that you use high quality photos because 90% of buyers shop for home online. Complete repairs like leaky faucets before listing your home to avoid negotiations over what the repairs will cost potential buyers.   Spend time cleaning and removing clutter since untidiness makes your home seem smaller.  Stage your backyard as if it were another room and maintain the landscape so it appeals to your viewers, especially in summer and fall when we enjoy outdoor activities.  Disclose all information including issues that may jeopardize a sale to avoid liability after the sale.   Finally, remember this is a business deal and emotions can get in the way.  A low ball offer is an opportunity to negotiate, not a reason to be insulted.  To read more click here. The post 8 Mistakes That Could Screw Up Your Home Sale appeared first on Team Realty. Source: Blog

5 tips for eco-friendly renovations

  If you are renovating, you should consider the green strategies suggested in this realestate.com post by Danielle King.  For example, add insulation to the roof and external walls and you could save 25% on energy costs.  Replace inefficient windows or add window film since up to 40% of your heating can be lost through windows in winter.   Energy efficient appliances, LED lighting and solar panels will also contribute savings, while protecting the environment. Implement water collection techniques to use rainwater for toilets and the garden.  Include water efficient faucets and showerheads. Add high-flow taps that make baths and washing machines fill quickly. Use low/no Voltatile Organic Compound (VOC) materials where possible, and non-toxic paints.to read more click here. The post 5 tips for eco-friendly renovations appeared first on Team Realty. Source: Blog

Canadian Home Prices Are Growing At One Of The Fastest Paces In The World

  The Canadian real estate market continues to boom, according to this Financial Post offering.  With a year-over-year increase of 8.2%, Canada ranked 4th of the 23 countries studied in Scotiabank’s report Global Real Estate Trends, behind Ireland (13.3%), Sweden (10.5%) and Australia (8.3%).  However, the report warns the trend could change if economic uncertainty and high unemployment counterbalance the attraction of low borrowing costs.  To read more click here. The post Canadian Home Prices Are Growing At One Of The Fastest Paces In The World appeared first on Team Realty. Source: Blog

An Economist’s Letter to Millennials Who Can’t (Yet) Buy a Home

This post from Jonathan Smoke, chief economist at realtor.com, explains what Millenials can do to help themselves along the path to home ownership.   For example, a high debt burden will restrict their ability to qualify for a mortgage, and the amount they can get, so they need to limit their total debt payments (student loans, credit cards, car loans, etc.) to less than 15% of their income.   Smoke also covers the importance of improving their credit score, saving as much as they can for a down payment and creating an emergency fund for unexpected bills. To read more click here. The post An Economist’s Letter to Millennials Who Can’t (Yet) Buy a Home appeared first on Team Realty. Source: Blog

Here’s What Pushes People to Buy Homes in 2015

  If you want to sell your property quickly, at near the asking price, it is important to know why people are buying.  In this post, Realtor.com chief economist, Jonathan Smoke, suggests we pay attention to the five main triggers for home buyers: they have grown tired of their home and want a change, interest rates are exceptionally low, housing prices are favourable in many markets, they need or want more living space and they have the money to spend. To read more click here. The post Here’s What Pushes People to Buy Homes in 2015 appeared first on Team Realty. Source: Blog

5 Questions to Ask Before Replacing Your Roof

  Most of us have little or no experience with re-roofing, so this post by home reno expert Bob Vila is a valuable guide to the questions a homeowner should ask before hiring a roofer.  First, ask for an estimate that is comprehensive enough (permits, inspections, materials, labour, contingency) to establish a firm budget.  Discuss the proposal in detail with the contractor.   Find out what materials are being used and get the specifications in writing.  Avoid cheaper, low quality materials, especially the shingles, because sub-standard materials reduce a roof’s life expectancy costing you more over the long term.   Inquire how the project will be accomplished – installing shingles on top of the existing materials may seem cheaper, but removing the existing roof materials will provide a chance to inspect the roof deck in case repairs are needed.  Ask if your contractor is licensed, insured, and bonded so you aren’t liable for any accidents during the project.   Finally, check how long the roof will last and ask about warranty coverage for materials (Owens Corning shingles are guaranteed for 50 years) and installation (most small contractors do NOT warrant workmanship).  To read more click here.   The post 5 Questions to Ask Before Replacing Your Roof appeared first on Team Realty. Source: Blog

8 steps to getting started in property investment

  This propertyinvestment.com post from Nila Sweeney is an excellent primer for those who want to start a property portfolio. First, check your finances to see how much you can invest and get mortgage pre-approval.   Then, define what success means for you, as well as the level of risk you are comfortable with, and set your goals. Next, start budgeting and create a purchase plan.   Finally, research the market for opportunities that meet your criteria and approach them as business transactions, applying logic rather than being swayed by your emotional attachment. To read more click here.   The post 8 steps to getting started in property investment appeared first on Team Realty. Source: Blog

The 3 Most Common Reasons a Home Inspection Kills a Deal

In this Redfin.com post, home inspector Dylan Chalk underscores the importance of a home inspection by identifying how they can prevent a potential sale. The most common reason is the home is not what it appears to be, especially in the case of a “flipped home”, one purchased …read more Source: Team Realty News Feed

Reno Investments Providing the Highest Returns

This detailed Home Inspection Network post provides useful data to anyone who is considering a home renovation. Author Bev Siciliano begins by explaining what many do not realize – we might not fully recoup our investment when the home is sold. For that reason alone, home renovations should …read more Source: Team Realty News Feed

What You Need to Do When Saying Goodbye to Your Home

Although you’re excited about moving, there are easy ways to reduce the ache you feel when thinking about leaving the old abode. According to this Realtor.com post by Lisa Davis you could throw a going away party with the neighbours who shared your journey over the years. …read more Source: Team Realty News Feed

The Do’s and Dont’s of Basement Storage

This article from Bob Vila gives eight handy tips to consider when using your basement for storage. The suggestions include taking advantage of vertical space by building up and not out, using open shelves for frequently-used items and built-in cabinets to conceal toys or cleaning supplies, storing …read more Source: Team Realty News Feed

Is It Time to Downsize? Ask Yourself These 4 Questions First

If you’ve reached the time of life where you are contemplating downsizing your home, the first question to ask, according to this Realto.com post, is what kind of lifestyle do you want after downsizing? By defining how you want to live, you can narrow your search and focus on …read more Source: Team Realty News Feed

What’s the best property type for your first home?

Inexperience can cause first time home buyers to be confused by the multitude of available options. This post by Caroline James is an excellent introduction to the advantages and disadvantages of five popular property choices: a large detached house on a suburban block, a small home on a sub-divided …read more Source: Team Realty News Feed

8 Mistakes That Could Screw Up Your Home Sale

Usually we hear “buyer beware”, but real estate author Michael Corbett advises sellers to beware and gives 8 reasons why in this trulia.com post. Always work with professional help, including a real estate agent. Their expertise, experience, neighbourhood knowledge and resources will help you plot a course …read more Source: Team Realty News Feed

5 tips for eco-friendly renovations

If you are renovating, you should consider the green strategies suggested in this realestate.com post by Danielle King. For example, add insulation to the roof and external walls and you could save 25% on energy costs. Replace inefficient windows or add window film since up to 40% …read more Source: Team Realty News Feed

5 Questions to Ask Before Replacing Your Roof

Most of us have little or no experience with re-roofing, so this post by home reno expert Bob Vila is a valuable guide to the questions a homeowner should ask before hiring a roofer. First, ask for an estimate that is comprehensive enough (permits, inspections, materials, labour, contingency) …read more Source: Team Realty News Feed

An Economist’s Letter to Millennials Who Can’t (Yet) Buy a Home

This post from Jonathan Smoke, chief economist at realtor.com, explains what Millenials can do to help themselves along the path to home ownership. For example, a high debt burden will restrict their ability to qualify for a mortgage, and the amount they can get, so they need to limit their …read more Source: Team Realty News Feed

Happy New Year – Bonne Année

Wishing you a fantastic year 2016 filled with health, happiness & tons of success! Je vous souhaite une année fantastique remplie de santé, joie et succes!

8 steps to getting started in property investment

This propertyinvestment.com post from Nila Sweeney is an excellent primer for those who want to start a property portfolio. First, check your finances to see how much you can invest and get mortgage pre-approval. Then, define what success means for you, as well as the level of risk you …read more Source: Team Realty News Feed

Canadian Home Prices Are Growing At One Of The Fastest Paces In The World

The Canadian real estate market continues to boom, according to this Financial Post offering. With a year-over-year increase of 8.2%, Canada ranked 4th of the 23 countries studied in Scotiabank’s report Global Real Estate Trends, behind Ireland (13.3%), Sweden (10.5%) and Australia (8.3%). However, the report warns …read more Source: Team Realty News Feed

Here’s What Pushes People to Buy Homes in 2015

If you want to sell your property quickly, at near the asking price, it is important to know why people are buying. In this post, Realtor.com chief economist, Jonathan Smoke, suggests we pay attention to the five main triggers for home buyers: they have grown tired of their …read more Source: Team Realty News Feed

Unchecked Emotions Can Cause Costly Property Mistakes

We are sometimes enthralled by the presentation of a property, but ignoring the things we cannot see or overlooking obvious problems and risks can lead to disastrous consequences. To the extent possible, put your emotions aside and make buying property a business decision based facts and data. Getting Too …read more Source: Team Realty News Feed

6 Sneaky Ways to Make Your Home Look Expensive

If you want to convert your home’s look from average to exceptional, this Realtor.com post by Jamie Weibe tells you how. Remove mismatched decor items, store toys/magazines and organize your things to fix a cluttered appearance. Clean and re-grout tile to make it look new. Use …read more Source: Team Realty News Feed

Create a beautiful bathroom for the ages

As people age, reduced mobility, impaired balance, failing vision and muscle weakness make them more susceptible to injuries in their home, and bathrooms are no exception. This Consumer Reports article tells how the latest design trends are helping owners upgrade their bathrooms with changes that enhance safety while …read more Source: Team Realty News Feed

Why Cleaning Window Screens Should Be Part of Your Winter Strategy

Should removing and cleaning the window screens be part of your winter maintenance routine? According to this houzz.com post, there are several benefits to be gained. Simply put, dirty mesh blocks light, heat and the view. For example, you get 30 to 40 percent more light coming in without …read more Source: Team Realty News Feed

Ottawa Real Estate Update: November 2015

Mild weather and post-election enthusiasm spurs on home buyers! Statistics are useful in establishing trends but should not be used as an indicator of an increase or decrease in value of specific properties. If you are curious about the value of your home and/or specific neighbourhood statistics we would love …read more Source: Team Realty News Feed

Not Only Millennials Want Walkable Communities

A walkable community is well-planned, compact and designed for people to walk to work school, parks, restaurants and activities as a form of everyday transportation. According to a National Association of Realtors survey, more and more buyers want to live in walkable communities. The study found that …read more Source: Team Realty News Feed

Higher electricity costs: how to circumvent them

Because the cost of electricity is expected to rise as a result of the federal Liberals’ green energy policies, prudent investors should pay attention to the energy consumption of their rental properties. This Canadian Real Estate Magazine post advises landlords to find ways to become more energy efficient such …read more Source: Team Realty News Feed

9 Bad Habits That Are Killing Your Appliances

This slide show from Bob Villa is an excellent visual representation of how NOT to treat your appliances. For example, an overloaded washing machine stresses the bearings and misaligns the drum. Overfilling the freezer can block air vents, restrict the flow of cold air and overtax the condenser. Clean …read more Source: Team Realty News Feed

Emotional Homebuyers Can Lose Out On The Best Deals

When we really like a property, we can overlook or downplay its negative aspects. This homeownership.ca post advises us to approach purchasing a home as a business decision and to remove emotion from the decision. Before viewing any properties, contact a financial adviser to set your budget, …read more Source: Team Realty News Feed

Green Renovations — Basements

Virtually all homeowners will find something of use in this detailed and practical fact sheet from Central Mortgage and Housing Corp (CMHC). If you’re planning a basement renovation, it’s a must read, filled with time, energy and money saving tips, features and advice on how to green any project, …read more Source: Team Realty News Feed

The Number of Real Estate Appraisers Is Falling. Here’s Why You Should Care

According to this realtor.com post, the number of real estate appraisers is dropping to the point where parties on both sides of real estate transactions could suffer. Since most residential mortgages need an appraisal before a sale closes, a shortage of appraisers will affect buyers, who rely on accurate …read more Source: Team Realty News Feed

Boost Your Curb Appeal with 4 Doable DIY Projects

Most sellers realize that preparing the interior of their homes for viewing is essential. In this article, Bob Villa explains it is just as important to stage the exterior of your house as it is to prepare the inside rooms when you are selling. For example, a …read more Source: Team Realty News Feed

5 must-do’s for first-time home buyers

This homeownership.ca article by real estate lawyer Mark Weisleder gives the essentials for the novice buyer. Start by calculating what you can afford (general rule is 30% of gross income). Then, figure out what is important to you and search for properties with those features. Ask …read more Source: Team Realty News Feed

5 Steps to a Safer Bathroom

If you are planning to remodel your bathroom this Consumer Reports article give sound advice on how to do it with safety in mind. Install pressure-balancing and anti-scald valves to provide a steady flow of water that remains at a safe temperature. Add a sturdy, properly secured …read more Source: Team Realty News Feed

How to Reduce Your Energy Bill with No Cost or Sacrifice

This excellent post from Adam Dachis on lifehacker.com tells how to lower your electricity bill easily, at no cost, by using your appliances more efficiently. For example, promoting optimal air flow will lower energy costs by reducing the demand on your cooling/heating system. Opening all vents in …read more Source: Team Realty News Feed

Inexpensive Ways to Make Your Home Green

In this bhgrelife.com post, we learn just how easy it is to join the green movement and become an eco-warrior. For example, by improving the energy efficiency around home, you reduce consumption, conserving the planet’s resources and saving money at the same time. Installing a programmable thermostat …read more Source: Team Realty News Feed

Why Millennials Are Moving Home Design Trends

In this article for Freshhome magazine, Shelly Little explains how Millennials, the generation born between 1980 and the early 2000′s, are redefining home design. According to her research, Millennials value money and success, individuality and urbanized environments. And, they want this outlook reflected in their homes. …read more Source: Team Realty News Feed

Buying Near Parks and Recreational Facilities

According to RealtorMag, twenty-three percent of recent buyers indicated that convenience to parks or recreational facilities influenced their choice of neighborhoods. Proximity to parks and recreational facilities was the most important to recent buyers aged 34 and younger, and to those aged 35 to 49. Here are …read more Source: Team Realty News Feed