Real Estate Blog - homeowners

Five Reasons Houses Don’t Sell

Most home sellers have two main objectives: to sell quickly and for the highest price. The beauty of owning real estate (whether it’s a principal residence or an investment property) is that historically, it has yielded solid returns to Canadians who are in it for the long haul. Indeed, equity gains in Canadian real estate have been notable in some particularly hot markets, with the proceeds used to fund everything from the purchase of a bigger and better home, to retirement, travel, an investment strategy, or life’s next big milestone – whatever that may be.

A number of major cities across Canada have experienced tight market conditions over the last few years, but a slew of interest rate increases in 2022 have eased…

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What To Store in a Garage vs. Basement

When you own a home, outside of the closets, there are likely two main places where you can store your possessions: your garage and your basement. However, certain items will do better in one location over the other. Read on to learn about what to store in your garage and what is best to store in your basement.

What to Store in the Garage

In general, the items you should store in your garage have a common theme: they are all items that are used outdoors.

Car supplies – If you have a car, truck, or other vehicle, it likely spends a lot of time either in the garage or parked nearby. Therefore, it is only logical to store items for your vehicle, such as wiper fluid and extra tires, in your garage. The garage is also a…

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Kitchen Trends to Watch for in 2023

1. Closed-off floorplans

While an open floorplan is practical for some, 2023 is looking to be the year of privacy. The traditional style of kitchen is making a comeback, four walls and all, according to Audrey Scheck of Audrey Scheck Design in an interview with Forbes. Whether it be glass partitions, movable dividers, unique built-in shelving, decorative pillars, or simply a wall, the broken floorplan helps to compartmentalize your spaces, offering up privacy when you need it. When considering a broken floorplan for your kitchen, ensure accessibility and moveability is at the forefront of your design. While things might be closed off, you’ll still need to ensure there are open and clear pathways.

2. Revamped kitchen islands

Kitchen…

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Here are the Top Paint Colours for 2023

Deep reds, bold blues, and neutral earth tones are leading the way for the top paint colours of 2023. See what companies like Sherwin-Williams, Benjamin Moore, Glidden, Behr, and Pantone have chosen as their colours of the year. 

Refreshing the home is a big part of embracing the new year, and with so many potential changes from flooring to furniture, it’s hard to know where to start. Paint is a quick and easy way to freshen up any space or piece of furniture, and interior designers and paint companies have their predictions on emerging colour trends for 2023. Ranging from earthy reds to warm neutrals, here are the colours the pros say we’ll be painting our homes with and why they work. 

Pantone’s highly…

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A Spotlight on Canada’s Most Affordable Housing Markets

For the first time since the early days of the COVID-19 public health crisis, residential property prices are coming down in the Canadian real estate market. Whether you call it a correction or a downturn, prospective homeowners might be finding housing affordability options across the country.

According to the Canadian Real Estate Association (CREA), national home sales tumbled 3.3 per cent month-over-month in November, and average prices declined 4.4 per cent year-over-year to $632,802. When the Greater Toronto Area and the Greater Vancouver Area are removed from the equation, the national average price is slightly more than $500,000. This is way down from the peak of more than $800,000 earlier this year.

But while…

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How to Prioritize Home Renovations

Whether you’ve bought a fixer-upper, or your property simply needs an update, homeowners may find themselves confronted with multiple renovations at a time. Upgrading your home can also be  contagious—once you update one room, it can feel tempting to do them all. If you’re looking at several home renovations on your to-do list, where do you even start? How do you decide what projects come first and what tasks can sit on the back burner? 

Rebecca Hay, president and principal designer of Rebecca Hay Designs, gives us some pointers on how to prioritize home renovations.

How to decide where to start

You have several areas of your home that need a renovation—the kitchen is dated, the entryway isn’t functional, and the bathroom…

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Why You Should Live in Your Home Before Renovating it

Buying a new home is exciting, but depending on where you are on the property ladder, you may not be getting a move-in ready property. Although it can be tempting to jump right in to transform your space, it’s not always a good idea to rip down walls as soon as you close the sale. Here’s why you should put down that sledgehammer and take your time instead. 

1. You’ll learn about your home and its pain points

Whether you buy a total fixer-upper, an older home that needs minor updates, or a newly built place you want to personalize, it’s smart to play the waiting game before embarking on major renovations, says David Stevens, a REALTOR® in Victoria, British Columbia.

“I tell my purchasers I’d like to see them in the house for 12 months…

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Canadian Home Sales See Surprising Rise?

On Tuesday, November 15, the Canadian Real Estate Association (CREA) released its national housing statistics for the month of October. Below, CREA’s Senior Economist Shaun Cathcart provides an update on the current state of housing markets in Canada and explains what the data means for members:

In a surprise to many, home sales recorded over Canadian MLS® Systems edged up 1.3% between September and October 2022.

To close observers, this should not come as a surprise given that month-to-month sales declines have been becoming increasingly smaller since May. For some, the change from negative to positive results is a big deal, if only psychologically.

A 1.3% increase may not seem like much since our natural inclination is to compare it to…

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What Are Condo Fees?

What are condo fees, how are they calculated, and what do they cover? Condos have become the home of choice for many Canadian homebuyers, particularly first-timers, but increasingly move-up buyers as well. But many don’t understand this lifestyle option before deciding that it’s right for them.

Homeowners are drawn to condo living for a variety of reasons. It is a good option as residents age and can no longer care for a house or want to downsize. There is less maintenance and repair responsibility and more security features. But the big draw is often on-site amenities such as a swimming pool that you would not otherwise be able to afford.

Affordability is a big factor behind the relatively recent shift to condo living,…

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How Do You Pay Off Your Mortgage Faster?

Buying a home is a big investment and a huge commitment, but most homeowners will attest that the pay-off is worth the pains and strains of making those regular mortgage payments. Most people focus on their mortgage interest rate as a way of saving money (or at least, ensuring more of it goes toward your principal), but there are other ways to decrease the amount paid in interest. One way is to pay your mortgage off faster. More on that below, but let’s start with a basic mortgage 101.

What is a mortgage?

In order to buy a home in Canada, you’ll need a down payment of at least five per cent of the home’s purchase price (but it can be more). These funds are typically saved over time and can be boosted with the help of…

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