Real Estate Blog - March, 2022

Understanding Household Water Systems

Though every modern household is unique, they all share two common features—a system for supplying water to the home, and one for removing waste water once it’s been used. Beyond turning on the tap or flushing the toilet, where does the water come from, where does it go once it’s used, and who is responsible for maintenance? You may not realize—especially when buying a home for the first time—these features differ depending on where your home is located. They’re also important considerations when planning to buy and play a key role in your long-and-short-term financial planning. Let’s investigate!

Water supply systems

Two main types of water systems are used to supply homes: a well system, and a municipal (or city)…

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Using Your RRSP to Maximize Your Down Payment

Saving a down payment for a house can be a daunting task. In this day and age, it can take years to save up enough money to afford a home, depending on various personal and economic factors. However, the Canadian government has created a Home Buyers’ Plan program, which allows first-time homebuyers to withdraw up to $35,000 from their Registered Retirement Savings Plan (RRSP) to increase their down payment. If you’re buying with someone who also qualifies for the program, that gives you up to $70,000 to put toward your home purchase.

Essentially, by using your RRSP, you are borrowing funds from yourself to purchase your home. Below, we will explain both how much of a down payment you require and how you can leverage your…

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Here are 4 DIY Built-ins You Can Do This Weekend!

Built-ins are showstoppers in any room. Whether used to surround a fireplace, turn a window into a cozy reading nook, add extra storage to an otherwise underused wall, or create the home library of your dreams, built-ins bring the grandeur.  

But that grandeur can come with a grand price if you order custom built-ins. Luckily, they’re not the only option. DIY built-ins don’t have to be expensive, require a full renovation, or take longer than a weekend to complete. Paint, moulding and prefabricated bookcases, wardrobes, and cabinetry are all you’ll need to create the classy, custom looking built-ins of your dreams.

The secret to DIY built-ins is paint and trim. To make your project look like custom work, paint the built-ins to match your room…

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Bank of Canada Increases Interest Rate

Photo by Alex Shutin on Unsplash

On March 2, 2022, the Bank of Canada began its rate hike cycle by increasing its target for the overnight lending rate by 25 basis points to 0.5%. The Bank will also be maintaining its portfolio of government bonds until it is deemed necessary to start reducing the overall size of its balance sheet.

The Bank views the Russia-Ukraine conflict as major source of uncertainty, that which has led to increases in oil and other commodity prices, stoking further global inflationary pressures, and likely causing a drag on global growth. Amidst these recent geopolitical developments however, the global economic recovery to date has so far turned out to be in line with the Bank’s projections, with some advanced economies even…

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How Much Can a Renovation Add to Home Value?

Spring is right around the corner, and you may be thinking about making some home improvements. You love your home, but perhaps you want something a little bigger, or a little nicer. A renovation can get you there. At the same time, remodelling certain areas of your current home may lead to a higher value when you’re ready to sell.

While certain renovations can add to the value of your home, this is not always the case. That’s why it is essential to consider how much time and money the remodel will cost, and if the return on investment (ROI) will be worthwhile.

How much can a renovation add to home value? That depends on a number of factors, but here are a few of the best home renovations to consider.

Interior…

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Top Paint Colours for 2022

The greatest canvas in your home are the walls. And the paint colours you choose are one of the boldest ways you can put your personality on display. But with millions of colour permutations out there, how do you possibly narrow down your favourite shades? Why not start by perusing this list of top paint colours for 2022.

This year’s paint trends are all about serene, tranquil colours that bring nature indoors. They’re subtle, warm, and allow you to be versatile in your design—which means you’ll be able to put them in almost any room for a fresh, earthy atmosphere. And whether your aesthetic is modern, traditional, cottagecore or anything else, these top paint colours will seamlessly fit into your style.  

Let’s dive in, shall we?

Botanical…

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Get Set for a Headline-grabbing Spring Market

The housing market is highly seasonal. I’m writing this in the dead of winter. There aren’t typically a lot of listings at this time of year so, by extension, not a lot of sales, even if everything that becomes available is still selling. For that reason, many people don’t seem to pay as much attention to housing between, roughly, the start of a new school year and the following spring.

Over the last couple of years, I’ve noticed  many observers of the real estate market seem surprised in March, that the market has continued to evolve over the six or so months they hadn’t been paying attention to it.

As we head into what might be the most headline-grabbing housing year ever, this blog post is to provide an update for those who may have been…

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What to Know About Living in an Adult Lifestyle Community

For those entering retirement age or who wish to downsize without giving up independence, an adult lifestyle community (or active adult community) could be an ideal option. 

If you’re looking to explore hobbies and opportunities to socialize, adult lifestyle communities offer a range of amenities and conveniences to enjoy. These communities are typically available to residents 55 years of age and older (although many don’t have an age restriction), and allow a high degree of independence with added security. If you’re weighing the options about an adult lifestyle community, there’s much to think about, such as monthly costs and community guidelines. 

What exactly is an adult lifestyle community, and why are they gaining popularity?

Adult…

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2021 RE/MAX Market Share Reports

The 2021 Market Share Reports are here and prove, yet again, that RE/MAX is #1! The #REMAXHustle never stops!

The RE/MAX Market Share Reports are great resources to show that RE/MAX Agents can get your home sold!

Market Share Reports show:

• RE/MAX agents sell more real estate than any other Canadian brand.
• RE/MAX is the most recognized name in real estate and #1 in brand awareness.
• Over 95 per cent of homebuyers and sellers know of RE/MAX.
• Each year, RE/MAX agents’ help hundreds of thousands of families buy or sell a home.

Connect with your own RE/MAX Agent today! #BrandPower

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How to Use Décor to Add Warmth to an Industrial Space

Frankie on Unsplash 

Industrial elements tend to appeal to those with minimalist tendencies—the sharp lines and functional philosophies of industrial design are a natural fit if you’re into clean, uncluttered spaces. However, antiseptic interiors aren’t to everyone’s tastes, and there’s no design law that says industrial interiors must equal sterility. 

In October 2018, Living Room called industrial design a celebration of bricks and mortar. It’s a style that continues on in new condo and loft construction, though more likely features concrete along with high ceilings and exposed mechanicals. 

Warming up an industrial space may be easier than you think, too. The walls, floors, and ceilings of any space are the blank canvas upon which you…

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