Smart Home Technology
The integration of smart home technology is rapidly expanding across Canada, and while homeowners may be hesitant to adopt such technologies at first, they tend to view the changes in a positive light once they make the purchase.
Emerging Trends in the Canadian Real Estate Market
In the latter half of the 2010s, home prices in Toronto began to rise after a period of consistent decrease. Recently, the housing market saw the largest price gain since December 2017 with a rise of 5.2 per cent. It is projected by real estate experts that housing prices are projected to continue growing into 2020 with the average price expected to exceed $900,000 for a residential property.
Canadian Zoning Laws
Zoning laws determine what kinds of properties can be built on a particular plot of land. In considering existing features such as buildings, landmasses, and railways among others, zoning laws exist to protect industries, eliminate adjacent incompatible land uses, and control how intensely a given area of land is used. More recently, there has been a trend towards commercially-zoned properties, in particular retail properties, being developed into high density housing. This is likely the result of a challenging retail environment due to buyer preferences shifting towards online shopping, combined with a shortage of supply of residential homes.
Expectations for a Landlord
Landlords wear many hats when it comes to owning a property. They are in charge of more than just collecting rent. A landlord is typically a problem solver, repairman, negotiator, and salesperson. Landlords are often the first person to deal with neighbor issues, handle tenant problems, and make the call to hire an outside maintenance specialist. The role of the landlord isn’t an easy one and often comes with negative connotations.
The Rise of Suburban Hubs
It’s no secret that most people want to live, work, and play in the same area, and it has caused more individuals and families to move into cities. But what the trend doesn’t show that there is a rise in these same groups moving to the suburbs looking for the same thing. The suburbs are becoming some of the most extensive metro areas across North America, with over 60% of the population in both the United States and Canada making a move out of the city.
Cash vs. Financing: How to Pay for Your Property
Purchasing a home is one of the most significant decisions individuals make in their lifetime. Once you decide to buy a home, you have to determine if you are paying cash or finding additional financing. Putting as much cash as possible into your home can ultimately help you avoid more substantial mortgage debts. Both options have their pros and cons, and the following are just some of the significant differences when it comes to using cash or a mortgage to purchase a home.
Canadian Property Inheritance 101
While it can be a generous gift from a family member, inheriting a house kicks off a process that can be lengthy, stressful, and confusing. To take the next steps to acquire the property, it’s best to know your options, assess the financial consequences, and hire an expert to assist in navigating the tax and legal requirements.
Canadian Real Estate Outlook for 2020
The Canadian real estate market has seen its fair share of ups and downs over the last few years. With interest rates likely to stay low in 2020, the housing market will continue to rally throughout the first half of next year. These early predictions are great news for any potential buyers looking to make a move in 2020.
Winterizing Your Property
The falling leaves mean winter is right around the corner, and it’s never too early to start preparing your home for the cold Canadian winter. It doesn’t take much to prepare your home to withstand the snow, sleet, freezing rain, and bitter cold Canadian’s have come accustomed to. The following suggestions can help cut down on your heating bill this winter or save you from making some major repairs once all the snow melts next spring. They can also all be completed over a long weekend!
Condominium Buying Guide
Condominium ownership is becoming more common as buyers are starting to become savvier about what they are looking for when it comes to purchasing real estate. As the real estate market in Toronto cools off, there has been a spike in condo sales. Condos make up most of the new homes under construction and are priced affordably compared to single-family homes in the city.