Streetseed Blog | Real Estate News, Deals, Tips, Advice, & Streetseed News

Renter's Guide: How to Pick Good Roommates

2012-02-22T09:54:00.000-08:00

Whether you’re a landlord with a few spare bedrooms or an individual that’s looking to save some money by splitting rental costs, finding good roommates can be one of the most intimidating and important decisions you’ll have to make.

Many first-timers are tempted to live with their friends. Seems like a no-brainer right? Now we can have fun movie nights and dinner parties all the time! I won’t even have to go anywhere to grab some beers with my buddy! While this may be the ideal arrangement for many (myself included), it’s important to note that friends don’t always make the best living companions.

To make sure that you can get the best out of your roommate experience, here are some guidelines to follow before you take a friend or stranger into your home:

Figure out what you want – do you just need to split the bills? Or maybe you do just want someone to hang out with
Be honest about your living habits and your expectations – it’s only fair to all parties
Know the qualities you can and cannot tolerate – living with someone is a lot easier when you don’t hate them
Interview a number of candidates and ask lifestyle-related questions
Ask for references

By taking this little extra time and effort, you will be able to reasonably protect yourself against future headaches.

Inexpensive Kitchen Updates

2012-02-22T06:35:00.000-08:00

Does your kitchen need an update? Well, here are someinexpensive ways to give your kitchen a new look without breaking the bank.

Paint is one ofthe most versatile decorating tools there is. Painting the walls a lovely newcolour will do a lot to lighten and brighten, but don't stop there. Repaintingthe cabinets can completelytransform your kitchen (after all, cabinetry takes up most of the wall space inmany kitchens). Try Melamine paint because it is best for kitchen cabinets,since it's tough, easy to wash and can be tinted any colour you like, and it'snow available in easy to use latex formulations. Another option would be tochange all the cabinet and drawer hardware.You can get all kinds of great designs, from forks and knives to sophisticatedmodern looks. Additionally, adding new mouldings can enhance the character of any kitchen space. For instance, new crown mouldings,chair rails or beefed-up baseboards (either to replace existing skinny ones, oradded as an extra course above them) are another done-in-a-day job. For aglamorous look, you can also add crown mouldings to the tops of plain cabinets.Lastly, try changing the backsplash.Peel-and-stick mirror tiles are available at most building stores, for aninstant brightener. Ceramic subway tiles are another trendy backsplash look that issurprisingly easy to do, especially if you can adjust the design to avoidhaving to cut them.

The kitchen is often referred to as the heart of the home; itis a place where the whole family can come together to entertain, to converseand to cook. These quick and easy updates will do nothing but bring the familycloser by creating a welcoming kitchen environment that everyone will want toenjoy.

Source: http://www.styleathome.com/kitchen-and-bath/kitchen/update-your-kitchen-for-under-100/a/384

Searching for the Perfect Apartment

2012-02-20T06:07:00.000-08:00

Trying to decide where to live is always tough.There are a lot of questions to ask before you make your decision. In additionto location, here are a few things to take into consideration before you evenstart looking for an apartment.

How much space do I need?

How many people are you living with? Doeseverybody need a separate room? Do you need an extra room for work, guests, orstorage? These are all important questions to ask. Also decide on yourpreference for the size of each room. Maybe you would prefer to have a largerkitchen or bedroom. Remember to consider the furniture that you’re going tobring. Are you going to buy furniture to fit the space, or do you already havefurniture that you need?

What do I want to be provided for me?

Decide on the different types of services thatyou want in and around your building. Laundry, for example, is a small thingthat you don’t really think about until you’re reminded about it. Someapartments offer washers and dryers right in your suite. Others may havelaundry rooms. Also consider the appliances that are provided – some havedishwashers in addition to the usual stove and fridge. Another big thing is furniture.There are some apartments that come fully furnished, which saves you a lot oftime and money when you’re moving in but it may not be furnished in the styleyou prefer.

Lease, budget, and date available.

What is the minimum lease required? Will youhave to sublet your space at any time? When do I need the apartment?

Answer all of these questions before you begin your searchand you will save you a lot of time and energy. As always, the more specificyou are, the easier it will be to narrow your search and find the perfect placeto live.

Home Staging: Dressing Your Home For Sale

2012-02-17T06:21:00.000-08:00

Do you want to spruce up your home before you put it on the market?

Well, home staging is an inexpensive way to do just that. Home staging is about more than just preparing your house for sale; it is about dressing your house in a way that entices potential home buyers and encourages them to take a closer look inside. Staging focuses on improving a property's appeal by transforming it into a welcoming and attractive space that appeals to a wide range of home buyers. By focusing on the smaller details, home staging can help make your house look bigger, warmer and most importantly, irresistible to potential buyers.

Here are a few tips and tricks from professional home stagers to help get you started:

Declutter; Clutter can be one of the most distracting aspects when showing a house. Instead of a buyer focusing on the unique architectural details of your room, they focus in on your trinkets and trash. You don't have to toss your decor, just put it away for now.
Furniture: Large, over-sized furniture can makes rooms look smaller than they are. The converse is true as well. Small furniture in large rooms looks disproportionate.
Room true to purpose: You may have your dining room set up as an office or a second bedroom set up as a craft room, but buyers need to see homes true to their purpose.
Proper lighting: Good lighting makes everything look better. Be sure all rooms are well lit, including laundry rooms, garages, and closets.
Repairs: Most buyers aren't interested in fixer-uppers. They want homes that have been well maintained. You may have to spend a little time and money to fix broken doors, drawers, and windows. Fix them before you start showings!
Keep it neutral: It is much easier to imagine putting your mark on a neutral room than it is to imagine yourself living in someone else's Moroccan paradise. Play it safe and pick out neutral tones.
Fresh flowers: It's all about things smelling fresh and clean. Flowers add life and fragrance to a room!
Thorough Cleaning: Clean from top to bottom.
Staged Dining Area: You can really make a room pop by setting a formal place setting. Outdoor dining spaces also look great set with place-mats, chargers, and proper plates and glasses.
Hotel Inspired Bedrooms. Boutique hotels do a great job of making bedrooms feel luxurious. You can do the same by updating your bedding and having a liberal use of pillows.

Source: http://www.dwightstreu.com/page_content-23.html

Ready to Own - But Should I Build or Buy?

2012-02-16T12:26:00.001-08:00

Whether you’re a first time homeowner or are simply considering a change of scenery, there’s a good chance that you’ve wrestled with the following decision: should you build or buy?

To help guide your decision, here are some pros and cons for both options.

Build

Pros:

You, the homeowner, are in charge – you can have (almost) anything you want, wherever you want it
Everything will be brand new and up-to-date – green technologies, appliances, etc.
Construction materials and building code will be up to latest safety standards
Built to accommodate modern technologies – internet, heated floors, intercom systems, home theatre, etc.

Cons:

Not uncommon to exceed time and cost expectations – poor building weather, relying on external sources for materials, schedule contractors, etc.
Building a house typically quoted at 6-7 months – not for someone who is looking to move in ASAP
Paying double – you’ll have to pay for the property of the new home AND your existing home at the same time
Time intensive – prepare to take a lot of your personal (and possibly work) time to meet with developers and contractors

Buy

Pros:

Convenience – you can close and move-in to your home within 30-45 days of your offer being accepted
Mature neighbourhoods – facilities will be well developed and you can likely escape association fees commonly charged in new developments
Easier for you to negotiate price to get more value for your dollar
Craftsmanship may be sturdier and feature better materials as many new developers try to cut costs and reap profits

Cons:

Probably won’t be exactly what you want
May require additional expenditures on renovations and this can add up
You might actually spend more over the long-term - older homes may not be as energy efficient and may rack up utility costs

While this is a great starting point, it is still important for you to do your own research and talk to people who have experience with the build vs. buy decision. Stay informed, make the decision that is right for you, and happy home-owning!

The Week(so far) in Links

2012-02-15T21:01:00.000-08:00

Check out our round up of sites that are interesting to anyone who’s curious about real estate!

Some useful tips and tricks for any buyers and sellers:
http://www.hgtv.ca/propertyvirgins/BlogDetail.aspx?Sc=228&P=45487
http://www.kitsilano.ca/
http://www.inman.com/buyers-sellers/columnists/taranichollenelson/4-strategies-smarter-investing?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+inmannews+%28Inman+News+-+Headlines%29
http://www.buildersdirect.ca/
http://realestate.yourmoney.ca/2012/02/is-commission-without-a-sale-fair.html

For some design tips for everyday and to help your home sell:
http://www.apartmenttherapy.com/counting-pennies-tips-tricks-for-creating-a-gorgeous-home-anyway-165890
http://www.ontariohomeowner.com/news/2425-decorating-tips-to-make-your-home-appealing-for-your-valentine

The week in Canadian real estate news items:
http://www.bloomberg.com/news/2012-02-13/toronto-bubble-risk-topping-new-york-in-market-for-condominiums-mortgages.html
http://www.newsmaker.com.au/news/14785
http://www.winnipegfreepress.com/opinion/columnists/avoid-agent-hazard-when-trying-to-sell-your-home-139145684.html

Theme Decorating with Wall Decals

2012-02-14T10:58:00.000-08:00

With Valentine's Day upon us, it is hard not to be reminded of the day wherever we turn. From the image on Google, to Starbucks' Valentine's themed cup, Valentine's themed decorations are virtually inescapable. While some may find this overload of hearts and cupids nauseating, and at times I share this sentiment, the theme, like so many, can be inspiring. Having a theme to guide the way a home is styled gives a space continuity and its fun to be able to mix up your home based on the season or holidays. But there's a catch. It's not exactly possible to be re-painting your walls and buying new furniture to correspond with every holiday. While, it may be fun to have your home on theme from wall-to-wall, come tomorrow you'll have to rush to your closest home decor or repair store to stock up on your green paint for St. Patricks's Day. This isn't very practical, in many ways. All is not lost though. A new decor idea that I have recently discovered is removable wall decals or wall art. These are a perfect way to add some funky decor to your home with out committing to have these decorations for the long haul. Hosting a birthday party? No problem you can put the decals up the day off and take them down that very night, without tarnishing your home's overall feel. Often, these decals are also reusable so for your next birthday party, you're covered. These removable decals don't have to be just for themed occasions either. These decals are a great way to experiment with different colours or aesthetics in your home with out the commitment. Having said that, just because they are called "removable" wall decals there is nothing stopping you from having certain decals be main-stays in your home.

Get some decal ideas here: http://wallcandyarts.com/wall-decals.html

New App for Architecture and History Lovers

2012-02-13T15:11:00.000-08:00

A Ryerson University Professor for the department of Architectural Science, Vicent Hui, has released a new app. This new app is perfect for real estate and architecture lovers, and is compatible with both Iphones and androids. This free app, called "The Ryerson Architecture Mobile App", was created in partnership with Ryerson's Department of Architectural Science and the Ryerson University Library and Archives. The app uses geo-location data that identifies the architecture that surrounds users in Toronto. The app, which was first conceptualized by Hui in 2010, gives users access to peer reviewed information associated with Toronto's architecture. This information ranges from floor plans to conceptual designs. Now Torontonians can get a quick history lesson about the design and creation of almost one-hundred architectural landmarks in the city. All it takes is holding your phone up to the buildings that surround you and the nearest buildings and an accompanying inventory of knowledge, relating this building, will be at your finger tips.

For more: http://www.theglobeandmail.com/life/home-and-garden/architecture/dave-leblanc/phone-app-brings-toronto-architecture-to-life/article2323841/

Four Ways to Decorate for Valentine's Day

2012-02-13T05:25:00.000-08:00

For those of you that like to stay in onValentine’s Day, there’s always the question of how you’re going to make itmore romantic and less ordinary. In the spirit of Valentine’s, here are a fewways to make your home extra special.

Clean everything. Go looking forthings to clean, and clean it all. Everything, from the dust that has built upon the curtains, to the crumbs on the floor that you’ve never really noticedbefore, should be spotless. Think of it as priming your place for thedecorations. There’s nothing worse than a beautiful bouquet of flowers…and lastnight’s spaghetti sauce caked onto the table right beside it.

The cliché stuff, but within reason. There is such athing as too many flowers. Chocolate covered strawberries and champagne do notnecessarily suffice as dinner. There is no need to replace every possibleobject with a heart-shaped one. The cliché Valentine’s décor can be cute, butkeep it tasteful. Some flowers on the table, low lighting for dinner, and anincredibly well-cooked meal are fantastic.

Turn up the heat. The weather can beunpredictable at times, so adjust your thermostat accordingly. Alternatively,make use of your fireplace if you have one. Make sure that your home iscomfortable. Pay attention to your date to see if they’re comfortable as well.Goosebumps are a dead giveaway.

A special something. Think of yourinside jokes, or funny experiences that you have had together. Often there arespecial objects or symbols that represent these experiences. It might take sometime to find the perfect thing, but thoughtful decorations are often the bestand most memorable ones.

All the best to you and your loved ones thisValentine’s Day. Remember that often, the best gifts are gifts from the heart,and decorating and making your home comfortable are just the beginning.

The Importance of Curb Appeal

2012-02-10T08:18:00.000-08:00

Curb Appeal is extremely important to potential home buyers since the exterior of your home can determine whether or not buyers want to take a closer look inside. A house with curb appeal will undeniably stand out from the rest, by enticing buyers when they drive by or arrive for a showing. Although it is difficult to look at your house the same way a potential home buyer would, it is a crucial step in achieving a quick and easy sale.

To help get you started, here are some welcoming ideas that you can use to enhance your home and create curb appeal:

Colour

• When choosing exterior paint, look to your landscape for inspiration. Also keep in mind that the colour of your trim should complement the colour of your roof.
• Bright sun will often make strong colours appear bolder and vibrant ones seem brighter. For a toned-down look, try historical paint colours with grey undertones.
• Save brights for outdoor accessories or small areas. A colourful market umbrella, porch chair, painted bird feeder or striped retractable awning are attractive ways to spruce up the front of your house.

Entrance

• Paint your front door with a strong colour so that it stands out from the rest of the house. Embellish the door further with a knocker, polished-metal kickplate and an inviting, homey touch like a wreath, bunch of pussy willows or basket of flowers.
• A new railing will add panache to an old porch, as will attractive wicker or teak furniture and accessories like flower-filled planters.
• Make a small entryway more inviting with a pair of urns, planter boxes or ivy-covered trellis panels flanking the entrance, or display a hurricane lamp on a table next to the door.

Landscaping
• Define a walkway by embedding stepping-stones into the grass or gravel.
• A brick path surrounded by an overgrown all-white garden looks simple and elegant.
• A rose- or clematis-covered arbour or pergola makes a lasting impression.
• Fences are another option for creating individual style. Try a white picket fence for a cottage look, wrought iron for stately elegance and tall wood slats for privacy.

Although we are continuously taught to never judge a book by its cover, it is clear that potential home buyers regularly do. The front of your house is the first things they see, making it important to determine where these improvements are needed and how they can be addressed. Try implementing some of these aesthetically pleasing tips and see what a difference a few changes can make!

Sources: http://www.styleathome.com/homes/exteriors/create-curb-appeal/a/218

First Time Landlord?

2012-02-09T20:13:00.001-08:00

It seems that once people hit their mid-twenties and are finally making money at a steady job, rather then paying money to go to school, that the idea of buying an investment property is on the tip of every-one's tongues. I’m not sure how many people do more then toying with the idea for a few months, but, the ones that do are taking on a whole new job. There is no degree or diploma in how to own and manage an investment property or how to be a landlord, let alone how to be a good one. Earning the money to make this investment is not where the work stops. Renting out and maintaining a property can be a full time job that takes a lot of skill and knowledge. Here are some tips for how to be a successful landlord:

1. Be a strong communicator: Landlords are constantly dealing with other people. Whether it is potential renters, tenants, or home maintenance professionals it is essential to have good communication and people skills.

2. Be resourceful: As we have said, having a down payment is just the tip of the iceberg. As a landlord you need to know where to buy a new faucet when your tenant’s breaks, and how to navigate certain legal parameters of landlord/tenancy, etc. The unexpected can happen anytime and you need to have the wherewithal to solve problems.

3. Be organized: In order to rent out and maintain a property you must have strong organizational skills. This will be imperative when you are dealing with organizing rent payments and planning when you need to be on the property so you can provide adequate notice.

4. Be alert: You will need to be wary of what is going on on your property at all times. Are there extra people living in the home, not listed on the contract? Are there pets in the home? Are you tenants treating the property with respect? Being aware of all the happenings related to your property will not only give you peace of mind but will provide your tenants with more responsibility and awareness. It they know you are watching they will likely be more respectful or your property and your contract.

Making Square Feet Count

2012-02-08T09:56:00.000-08:00

As much as the Western world may resent this notion, our culture is generally perceived as being driven by heavy consumerism. Billion dollar budgets are dedicated to producing advertising stimulus, encouraging us to want bigger, better, and faster things. There’s no better example than this past weekend, when millions of viewers tuned into the Super Bowl – one of, if not the most important annual event for both the NFL and advertisers with deep pockets.

But with the global population steadily growing past 7 billion, it seems that, soon enough, we are simply going to run out of space. Just look around the GTA over the past few years – condominiums are being built left, right, and center. With the United Nations projecting the population to grow to 9.2 billion by 2050, this trend of building up will surely continue. So, sure, people are going to have to swap their dreams of that mansion with a pool and a guesthouse for a much smaller condominium or apartemnt, but what people need to realize is that square footage does not have to be a constraint on owning your dream home.

Like you, I was skeptical. How can anyone possibly fit their dream mansion into a significantly smaller condo? And then I discovered Gary Chang, an award-winning architect from Hong Kong – one of the most densely populated cities in the world. Despite living in a place where 30 sq. m. (323 sq. ft.) apartments are the norm, Gary transformed his tiny, rectangle of space into a 24-room home. With the creative use of sliding walls and panels, Gary can convert his living space into a library, fully functional kitchen, bedroom, and home cinema.

Of course, sliding walls are not ideal for everyone and, realistically, there is no perfect solution. But if we can learn anything from Chang, it’s that with a little creativity and imagination, you too can have the home of your dreams no matter how much or how little physical space you have. Like with anything in life, it’s not counting the square footage that’s important – it’s making each square foot count.

CAPREIT Rental Deals for February 2012

2012-02-08T07:16:00.000-08:00

Check out all the great CAPREIT apartments for rent in your city. Here are the rental incentives offered by CAPREIT for the month of February:

Calgary, AB

501 40th Avenue NW, Queens Park Village - move in bonus
4501 37th Street NW, Holly Acres - move in bonus
6707 Elbow Drive SW, Mayfair Place - move in bonus
924 7th Avenue SW, Pentland Place - move in bonus
9100 Bonaventure Drive, Bonaventure Estates - move in bonus

Victoria, BC

200 Gorge Road W, Gorge Apartments - $250 move in bonus
215 Gorge Road E, Redwood/Prince Charles/Charles Dickens - $500 Move in Bonus

Halifax, NS

1030 South Park Street, Somerset – Ask About Our Move In Bonus, on Move Ins by June 1st
1333 South Park Street, Park Victoria - Free Month's rent
2074 Robie Street, Welsford - Free Month's rent

London, ON

724 Fanshawe Park Road East, Wyndfield Place - $500 move in bonus
95 Fiddlers Green Road, Fiddlers West - one month free

Toronto, ON

225 Markham Road - $200 Off Last Month's Rent
56 CASSANDRA BOULEVARD - $500 Off Last Month’s Rent

Brampton, ON

3 Knightbridge Road – Ask About our Move-In Specials
80 Orenda Court, Brampton Village - Ask About our Move-In Specials

North York, ON

500 Murray Ross Parkway - $500 Off Last Month’s Rent
10 San Romanoway - Apply by February 29 & Receive $750 on Last Month's Rent
44 Stubbs Drive - $250 Off Last Month’s Rent
75 Eastdale Avenue - $500 Off Last Month's Rent

Scarborough, ON

30 Livonia Place - $500 Move- In Bonus
567 Scarborough Golf Club Road - $250 Move-in Bonus
1050 Markham Road - $150 off Last Month's Rent
1757 Victoria Park Ave - $250 Move- In Bonus

Mississauga, ON

1315 Silver Spear Road, Inwood Manor - Ask About Our Move-in Bonus
2076 -2100 Sherobee Road, Somerset Place - Ask About Our Move-in Bonus
3420 Morningstar Drive - Ask About Our Move-in Bonus

Longeuil, QC

2281 Rue Joliette - move in bonus

Montcalm, QC

250 Grand Allee West - move in bonus
435 Chemin Sainte-Foy – move in bonus

Your Very First Home

2012-02-07T18:11:00.000-08:00

Moving into your own home for the first time can be daunting in many ways. Figuring out how to balance your finances, between utilities, rent and other necessities, can be hard enough. Then there is the essential job of furnishing your new place. Given that we’re talking about your first home here you are not likely to have a lot of furnishings. You may be coming from residence, where your furnishings were provided by your university or college, or from living at home where your parents took care of setting up your home long ago.

It is all too easy for you to jump right in to the furniture and supplies market and fill your home as quickly as possible, this may not be the best solution in the long run. If you go out to your nearest department store, furniture retailer and kitchen supplier and just buy the first drapes, couch and silverware that you find, they might not go well together. As well, you wont have time to scout out the best deals or really get a feel for what works for you in your new space. When you are settling into your new place take your time to see what you really want your home to look like. Don’t jump right in on the latest trend. You will likely live in this home for at least a year, if not more, so you want to be able to live with the accessories and essentials that you choose.

Having said this, lets not take for granted the fact that you now live in this place and keeping it bare, until a dirt cheap couch and bed come your way, is not altogether feasible. Here’s a list of a few examples of essentials that you need to get your first home started that wont commit you to a certain style:
A few basic chairs that you can use as seats for either eating or entertaining.
A neutral coloured sofa to use as a base for your living room; colours like taupe, beige, and white are all versatile colours. You can spice it up along the way with cushions etc. that suit your style.
Bed frame and mattress. Lets be honest you can’t live on the floor for weeks, but don’t worry you can always change your bedding and pillows inexpensively to fit your style.
Baking utensils, you don’t need to get fancy here because these are just for cooking and for the most part will be in drawers, so no need to hesitate.

Security Goes High Tech

2012-02-06T10:00:00.000-08:00

Your home should always make you feel safe andsecure. With the advent of security systems where you can control just abouteverything from your smartphone, it got me thinking: what do you really need ina security system?

The basics: break-ins, smoke and fire, carbonmonoxide, and medical emergencies. This almost goes without saying. It’soffered by all of the security systems that I’ve seen. Two-way voice securityadds a feeling of increased security because somebody will be speaking to youin emergencies.

Extras that are worth considering: videomonitoring, system alerts. Several home security systems will allow you to seevarious parts of your home on video from a computer. System alerts will notifyyou by SMS or email if there is an emergency. Both of these features allow youto stay updated on your home, which is incredibly comforting.

Extras that are incredibly convenient: lightingcontrol, thermostat control, extra programmable features. The newest one thatI’ve seen gives you all three of these options. It means that you can controlthe lights and thermostat when you’re away from home to save on energy costs.Many programmable features add convenience and even more security. For example,you can turn the light on before you open the front door so that you don’thave to reach around in the dark, or you can program your camera to take apicture whenever the door opens. These features are not necessary, but they’rehandy to have.

One of the deciding factors when looking intosecurity systems is price. Of course, the more features you have, the moreexpensive your security system is going to be. Shop around, ask your friendsand neighbours, and read reviews. You should have peace of mind when you’reboth at home and away from your home.

The system that inspired this post:

Rogers Smart Home Monitoring

Home Renovations for Less

2012-01-30T19:44:00.000-08:00

For most people there is always something that we would like to fix or change in our home. Whether it is getting a new roof put on or adding something like better landscaping to our gardens, most people have something they would like to change about their home, but don’t always have the money to make the changes. We feel for you! Which is why we have compiled a list of home repairs that you can do even if you are on a budget.

1. Paint: It’s not expensive to change the colour of rooms in your home, so if you are looking for a change its do-able. Grab a couple of friends and some painting supplies and spend a weekend re-vamping your homes walls.

2. Buy Recycled: If you are thinking about replacing any tile work in your home you can do it economically if you buy reused tiles!

3. Refacing/Refinishing Cabinets: Instead of splurging on new cabinets in your kitchen, a cheaper and easier solution is to refinish them. If you have the skills and equipment to do it yourself its a possible DIY project. If you don’t trust yourself to do the job properly then its often cheaper to hire a professional to reface your cabinets then for a whole new set.

4. New Appliances: Though when you first read “new appliances” you may think, “Well that can really add up in terms of cost”, you aren’t wrong. BUT while you will be putting out a pretty penny to start with if you buy energy efficient appliances you will save on your utility bills in the long run.

5. Accessorize: Accessorizing your home may be one of the cheapest ways to spruce things up. There is a wide price range of home accessories from new mirrors, to flower pots in your front entrance. This will instantly upgrade the aesthetics of your home!

What should I do at an open house?

2012-01-26T03:18:00.000-08:00

If you’ve bought or are looking to buy a house, you’ve probably been invited to an open house or two. But did you know that many real estate agents now consider open houses obsolete? In an MSN Real Estate article, agent Liz Johnson admits that open houses don’t actually sell houses – at least not directly. So, then why do agents like Johnson still hold open houses?

Let’s back track a little. If you’re new to the real estate scene you might be thinking: Wait, what is an open house anyway?

Holding an open house is a traditional way of selling homes. When a home goes up for sale, the real estate agent, with the consent of the current home owners sets up a time when the house will be open to the public. An open house is designed to keep the home open to the public for longer than the usual short segments. Open houses usually run for a couple of hours. This allows visitors to leave, come back, and really look at the details of a house.

Real estate agents now hold virtual open houses too, where interested customers look through photos and videos of a house.

Real estate agents like Liz Johnson still run open houses for the networking opportunities they bring. In other words, they know that the main goal isn’t to sell that particular house – instead, they meet prospective customers, hand out business cards and maybe even talk about other properties they might be involved in selling.

Likewise, as prospective buyer, you can use open houses to network with agents, and find out if similar properties are up for sale.

You can also use an open house as opportunity to take a better look and ask any important questions. Check out the neighborhood, find out what other properties in the area are selling for and so on. Now that you have the extended time to look around, think about resale value. Is there anything about the house that will make it hard to resell? Is the house near a busy street or industrial zone? Do neighboring houses look just as polished? Are their permanent stains or issues with the house? Look at ceilings, walls, irremovable structures, and awkward windows.

Consider taking an interior designer’s perspective on a house before going to an open house.

Sources:
What questions should I ask at an open house? (MSN Real Estate)
Is an open house a waste of time? (MSN Real Estate)
Image by MARIE JEANNE Iliescu at www.lartek.ro

What Makes a Good Neighbourhood?

2012-01-23T16:28:00.000-08:00

Sometimes when we think about the home buying process we disregard the importance of the actual location of the home in the city in favour of concentrating more on the logistical side of the actual house, such as finding a real estate agent or getting your finances in order. But, the location of your home is extremely important. It determines where (if you have any) your kids go to school, how easy it is for you to get to the mall, the doctor etc. How much time can you afford in the morning to get to work? Do you want your kids to live in the same neighbourhood as their school friends? We’ve taken the opportunity to think about these questions and compile what it is that makes a great neighbourhood!

First of all a low crime rate is typically essential when selecting and okay-ing a neighbourhood for you. No one wants to fear walking their dog or letting their kids play on the street. Having good schools nearby is also an important criteria, especially for those who have a young family or who are on the brink of starting a family. It’s important when you start your real estate search that you can access information about schools and how they rank. For example if you are moving in Toronto and you have children that are almost school aged checking Toronto’s school rankings must be one of your considerations.

A community environment is also a part making a neighbourhood great. Having a community that treats all of its residents fairly is extremely important. Whether you are from an ethnic minority, or you are an elderly couple, feeling welcome and comfortable is so important.

Aesthetics of a neighbourhood must also be taken into account. Is it pure cement and roads, or is there greenery and trees? Are there open spaces and parks? Having a neighbourhood that you find beautiful will make your day to day life more pleasant and, in a practical sense, it will enhance your overall quality life. Being able to take your kids to the park, or go for a run along a river might be an important criteria for your lifestyle. A neighbourhood with enough sidewalks and paths is an important consideration as well, as walk-ability is often one of the top candidates for what makes a good neighbourhood.

What makes a good neighbourhood is also highly personal. Each person has a different lifestyle and unique priorities. Your age, your income and your day to day life are all important factors when it comes to how well a certain neighbourhood suits you. Let us know, what are your key considerations when it comes to selecting where you buy or rent your home?

Common Regrets When Buying A Home

2012-01-18T15:05:00.000-08:00

Hindsight is a great thing - especially when someone with buying experience can tell you what they wish they had known. Here's the beginning of a list of regrets from recent home buyers:

1) I should have asked the seller to do more repairs before closing.
2) I should have asked my agent to rebate me at least enough to pay for all the closing costs.
3) I should have scoped out the neighborhood at different times of day; the neighborhood gets a little dicey at night.
4) I wish I had 20 percent to put down on my home so I wasn't saddled with mortgage insurance now.
5) I wish I'd thought to have the sewer line tested-it's 90 years old and needs to be replaced.
6) I should have bought the cheaper house with good "bones" in the nicer neighborhood and done a little cosmetic fixing.
7) I should have done a "practice" commute - that road to work really backs up in morning rush hour.
8)I wish I had researched the cost of remodeling before I bought my fixer-upper.
9) I should have measured! I am never going to get that queen-sized bed up that narrow staircase.
10) I wish I hadn't agreed to an escalator clause
(a provision in a lease or other agreement in which rent, installment payments or alimony, for example, will increase from time to time when the cost of living index (or a similar gauge) goes up. Often there is a maximum amount of increase ("cap") and seldom is there a provision for reduction if the cost of living goes down or for deflation instead of inflation.) - now my house is worth less than what I paid for it.
11) I wish I owned stock in Home Depot.
12) I wish I had thought about the eventual resale value....my perfect house for two has very limited appeal.

Do you have any of your own? Feel free to comment and share so others don't share the same regrets.

The Week in Websites

2012-01-17T11:57:00.000-08:00

Check out our weekly round up of sites that are interesting to anyone who’s curious about real estate!

Some useful tips and tricks for any buyers and sellers:
http://www.cmhc-schl.gc.ca/en/index.cfm

For some design tips for everyday and to help your home sell:
http://www.timescolonist.com/homes/Decor+trends+2012/5996358/story.html
http://www.dougblackstock.com/home-sellers-guide/twenty-seven-seller-tips.php

The week in Canadian real estate news items:
http://toronto.openfile.ca/blog/curator-blog/curated-news/2012/torontos-real-estate-market-sets-more-alarms-big-banks
http://www.vancouversun.com/business/More+gains+Canadian+home+prices+predicted+2012/5985432/story.html

Move Your Home Search Online

2012-01-16T14:29:00.000-08:00

If you’re reading this, you’re probably (even a little) web-savvy. Your search for something or other brought you to this article. But “search” in itself has vastly improved the world of real-estate in the last couple of years. Like many tools on the web, real-estate engines developed to eliminate some tedious physical steps.

Pre-real-estate search engines, the early stages of home search involved physically going to check out a prospective home. Visiting apartments and/or houses has its merits, particularly in the later stages of house hunting. But at the beginning, when you might not be sure what you want, when you’re assessing your budget, when you can’t decide if you really need that extra bathroom, an online search can really save you time and energy.

For example, looking for my own apartment, I wasted days travelling to see apartments only to arrive onsight and realize the bedroom was way too small for my furniture.

When you search online, you can specify your search by square feet. Best of all you won’t bother visiting places that don’t meet your qualifications. You can narrow your search down by almost anything; new releases, price limit, number of bathrooms, etc.

Remember though, that a real estate search engine does not replace a realtor. It just allows you to get your initial searches done by yourself (maybe even in a few minutes?). Later when you know what you want, have admired and hated some pictures online, you can contact a realtor with a solid request. Search also eliminates the pressure of having to tell your realtor that you hated the place, or at least the number of times you have to do it.

Another great thing that search provides is a print out of your search. You can bring the print out along when you visit a place. Does the second bedroom really qualify as a bedroom, or is it more like a half-room? If you’re looking to rent, a print out can also remind you of which landlords are willing to cover amenities and which aren’t. A bullet point list let’s you know what’s covered and what’s not, what’s available (pool? gym? parking?) and what’s not. With concrete, written and sometimes numerical information, you’re in a better place to make a more informed decision. A decision that’s based on more than just a feeling of what the place is like.

CAPREIT Rental Deals for January 2012

2012-01-12T10:20:00.000-08:00

Check out all the great CAPREIT apartments for rent in your city. Here are the rental incentives offered by CAPREIT for the month of November:

Calgary, AB

501 40th Avenue NW, Queens Park Village - move in bonus
4501 37th Street NW, Holly Acres - move in bonus
6707 ELBOW DRIVE SW, Mayfair Place - move in bonus
924 7TH AVENUE SW, Pentland Place - move in bonus
9100 BONAVENTURE DRIVE, Bonaventure Estates - move in bonus

Victoria, BC

200 Gorge Road W, Gorge Apartments - $500 move in bonus
215 Gorge Road E, Redwood/Prince Charles/Charles Dickens - $250 Move in Bonus

Halifax, NS

1333 SOUTH PARK STREET, Park Victoria - Free Month's rent
2074 ROBIE STREET, Welsford - Free Month's rent

London, ON

724 Fanshawe Park Road East, Wyndfield Place - 500 move in bonus
95 Fiddlers Green Road, Fiddlers West - one month free

Toronto, ON

225 Markham Road - $200 Off Last Month's Rent

Brampton, ON

3 Knightbridge Road – Ask About our Move-In Specials
80 Orenda Court, Brampton Village - Ask About our Move-In Specials

North York, ON

500 Murray Ross Parkway - Ask About Our Move- in Specials
10 San Romanoway - Apply by January 31 & Receive $750 on Last Month's Rent
44 Stubbs Drive - $250 Move In Bonus
75 Eastdale Avenue - $500 Off Last Month's Rent

Etobicoke, ON

10 Blackfriar Avenue, West Park Village - $500 Off 1st Month Rent on 1 bedrooms

East York, ON

8 Park Vista - $300 off last month’s rent

Scarborough, ON

30 Livonia Place - $500 Move- In Bonus
30 Tuxedo Court - $500 Move-in Bonus for 10 Tuxedo only
567 Scarborough Golf Club Road - $250 Move-in Bonus
1050 Markham Road - $150 off Last Month's Rent
215 Markham Road - $150 off Last Month's Rent
1757 Victoria Park Ave - $250 Move- In Bonus

Mississauga, ON

1315 Silver Spear Road, Inwood Manor - Ask About Our Move-in Bonus
2076 -2100 Sherobee Road, Somerset Place - Ask About Our Move-in Bonus
3420 Morningstar Drive - Ask About Our Move-in Bonus

Longeuil, QC

2281 Rue Joliette - move in bonus

How to Find the Real Estate Agent that's Rights for You

2012-01-11T15:32:00.000-08:00

Our last blog discussed how first time buyers should approach buying a home. One of the essential steps that I mentioned was finding the right professionals to help you close the deal in the most time and cost efficient manner, real estate agents being one of these essential professionals. In this blog I want to go a bit further into this topic and discuss what makes a good real estate agent and how you should go about selecting the right real estate agent for your needs! So, here are a few tips that'll help you shop around for a real estate agent!
Consider agents expertise: Not all agents have the same background. Make sure you ask the right questions and get to know what the real estate agents you look at specialize in. If you are looking to buy a condo then you should be looking for an agent that has some experience in buying/selling condos.
Make sure your real estate agent is connected: This refers to both there connections with the real estate world and real estate news and numbers and also online. Are they current? If your agent doesn’t have a website or a social media presence they are probably missing out on important information and aren’t up to date in the real estate world.
Know who you are hiring: Is the agent full-time? Part-time? Full-time agents typically are more in touch with the real estate market.
Get the right kind of agent: If you are looking to buy a home make sure to get a buyer’s agent who will represent the buyers interest and vice versa if you are looking for an agent to sell your home.
Hopefully these guidelines will give you what you need to find the agent that suits your needs!

The Week in Websites

2012-01-10T17:36:00.001-08:00

Check out our weekly round up of sites that are interesting to anyone who’s curious about real estate!

For some design tips for everyday and to help your home sell:
http://houseandhome.com/tv/segment/lynda-suzanne-talk-2012-trends
http://www.design-decor-staging.com/blog/interior-design-trends-2012-comfortable-chic-decorating-ideas/42796

The week in Canadian real estate news items:
http://www.independent.ie/business/world/us-property-developers-shun-europe-due-to-debt-crisis-2977350.html
http://www.cbc.ca/news/business/story/2012/01/05/bank-economists-debt-housing.html
http://www.calgaryherald.com/business/CREB+sees+solid+year+ahead+Calgary+real+estate/5949159/story.html
http://www.canadianrealestatemagazine.ca/news/item/972-alberta-and-saskatchewan-to-lead-2012-economic-growth

What’s new in celebrity real estate?:
http://www.x17online.com/gallery/view_gallery.php?gallery=paris-hilton-s-hollywood-hills-party-pad-reduced-to-rent-20120106
http://www.intlistings.com/articles/2008/10-most-beautiful-unique-and-amazing-celebrity-homes/

Buying Your First Home

2012-01-09T19:39:00.000-08:00

Being a first time buyer can be overwhelming. Buying a house is one of the biggest decisions you may make in your lifetime. It is so important that before you invest in your first home you have crossed all your T’s and dotted all your I’s! If you don’t know much about real estate, its a daunting process so it important to plan ahead and do your research, so let this blog be your first step!

One of the first steps that you have to take before taking the home ownership plunge is determining what you can afford. There is no point taking the steps towards home ownership when you can’t afford it. When making this determination make sure you consider all costs. Buying a house is more then just making a down-payment. Can you afford the monthly mortgage payments? Can you afford the utilities? How about having the money to hire a realtor, etc? If you go over your finances and owning a home is sustainable, the next step is getting pre-approved for a mortgage before you go shopping around for homes. Down payments on homes generally range from 5-20% of the purchase depending on the kind of mortgage you decide on. Dont’ forget to do the math because the bigger down-payment that you make the more you will save in the long run as it reduces the amount of the monthly principal and interest payments and the total interest that you will pay. So, this may mean putting off buying your dream home until you can put a large enough down-payment on the house that is sustainable in the long run.

Again, researching mortgages is one of the most important steps in the home buying process. Take the time to learn about the different kinds of mortgages that are available. To learn about closed mortgages, open mortgages and convertible mortgages most major banks can provide you with useful information, for example CIBC gives the low-down on how these mortgages differ from each other. Though it may be your instinct to take the mortgage rate that the bank you use offers you but this may not be the best rate for you. Shop around and make sure to visit different banks, go to a national bank, a local bank and a local credit union to get a variety of options.

As resourceful as you may be, and as much real estate research you may have done before making moves to buy your first home, its important to get professional advice. Find the experts who know how to navigate the specifics of home buying. First off, find a real estate agent. This will ensure you have someone who knows the industry and will look out for your best interests and negotiate for the best deal to meet your needs. Hiring a lawyer or a notary is also a helpful step to closing the deal successfully. A lawyer or notary will ensure that the offer and the purchase includes any conditions and clauses that you will need to protect yourself. Finally, get a home inspector to do a detailed assessment of your potential purchase to examine the home’s mechanics and structure and to provide a list of repairs that must be made. Though you may find a great home in your price range that is aesthetically beautiful, simply walking through it wont give you any idea if there are any issues with the plumbing or electrics.

Once you have taken all these steps and you have found a good mortgage rate, and narrowed your search down to a few homes that meet your budget requirements and pass a home inspection don’t just pounce on the one that you remember as the best, go take a second or third look around these homes. Buying a home is a huge decision and a responsibility, financially and otherwise, that you will have for years to come so its imperative that you are 100% certain before making the big move!