Property Hound

Recent Interest Rate Hike Implications

Thursday Mar 24th, 2022

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In an attempt to cool the real-estate market and reduce inflation, the Bank of Canada has increased the overnight interest rate by 0.25%. An increase in the cost of borrowing is certain to have an impact on the number of homeowners and homebuyers. According to economists, Canadians could see as many as four interest rate hikes this year, each comprising an additional 25 basis points. By the second half of 2023, the interest rate is expected to reach 1.75 per cent. Those with fixed-rate... [read more]

Current Events and Effects on Real Estate

Tuesday Mar 1st, 2022

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We have almost finished with the first quarter of 2022 and it has not been short of events happening.  Two years and counting, we are still battling COVID-19, Inflation is at a level not seen in over three decades (According to Statistics Canada, Canadian inflation surpassed 5% for the first time since September 1991, rising 5.1% on a year-over-year basis and up from a 4.8% gain in December 2021.) civil unrest everywhere, debt is at an all time high, major interruptions/backlog in the... [read more]

Condominium Market Resurges in the GTA

Tuesday Feb 8th, 2022

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One year ago, the condominium market cooled as many first-time buyers waited to pull the trigger on purchasing due to economic certainty. The Toronto condo market was impacted the most out of any city in Canada, with the number of listings surging, prices falling and an oversupply of vacant units leading to falling rents. However, not only is the Toronto condo market rebounding now, it is anticipated to surpass the price gains of detached homes in Toronto. The Toronto Regional Real Estate... [read more]

Real Estate Predictions in 2022

Monday Jan 24th, 2022

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Although no one has a crystal ball and it is hard to say for certain what will happen, here are some educated predictions for 2022. Toronto's real estate market in 2021 has put home purchases out of reach for many millennials and first-time buyers.  Tougher lending, qualifying and mortgage approvals are also forcing buyers to lower their expectations when purchasing.  Unfortunately, most experts are predicting house prices to continue to rise in 2022, but perhaps at a... [read more]

Top 5 Questions in Today's Market

Wednesday Dec 8th, 2021

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Top 5 Questions

People have been asking and are concerned with what's happening in our real estate market.  Here are the top 5 questions consistently asked and my answers to them.    "What's going on with the market?"  According to the Toronto Real Estate Board, record number of home sales was set in 2016 with a total of 113,000 units sold.  We are currently sitting at 115,000 units with still December to finish out 2021.  Prices on homes have increased... [read more]

12 Things to Know About Buying Pre-Construction

Wednesday Dec 1st, 2021

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12 Things to Know About Buying Pre-Construction

1. Deposit Structure   Every project will have a different deposit structure on when payments will need to be made to the builder. The biggest advantage when buying pre-construction compared to something that is already built is the extended deposit structure. With pre-constructions, your down deposit is spread over time (usually totalling 20% of the purchase price) instead of putting it all down at once when buying a resale. Here is an example of a typical deposit structure in... [read more]

Top 5 Renovations When Selling

Monday May 13th, 2019

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Top 5 Home Renovations When Selling

When it comes time to sell your home, you will likely be put in a situation where home updates, repairs, and upgrades are recommended in order to boost the value of your home for maximum returns! Now before tearing down a wall or throwing your money at everything it's important to understand not all home renovations are equal. Below you will find a list of the top 5 home renovations that have significant impact on your selling potential: 1. Improve energy efficiency This one... [read more]

How to Choose the Right Mortgage

Monday Apr 15th, 2019

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How to Choose the Right Mortgage

Obtaining a mortgage can be intimidating and confusing. Similar to the buyer and seller guides, I’ve outlined the mortgage process for you in 4 easy steps! Step 1: Mortgage Application Before an application gets filled out, it’s important to first asses yourself financially. Figure out how much money you have and how much you need to borrow. It’s always critical to sort out how much you can afford so that when you apply for a mortgage you will be able to financially... [read more]

5 steps to selling your home

Monday Mar 18th, 2019

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5 steps to selling your home

Your satisfaction and happiness is something that is very important to me. I understand how hectic it is to sell a house and it can be difficult if it’s not handled properly. To help you through the entire process, I’ve put together five simple steps: Step 1: Decide to Sell When you sell, you want to get as much value as you can for your home. So you might want to consider the timing of the sale because it definitely has an effect on the value. You don’t want to sell... [read more]

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