Advice tips and ideas for home owners
Tuesday, July 21, 2020
House and Home Real Estate Market Buying and Selling Just Listed
Welcome to 192 Central Drive, a charming home that sits on a 201 foot deep lot. It’s not often that opportunities like this become available! The choice is yours - live in as is, update with your own personal touches, or re-build on this spectacular lot to create your dream home.
Originally a 1 1/2 storey house, previous owners greatly expanded the living space with a 2 storey addition at the back. Now with 1853+/- sq.ft. above grade, the split level home features generously sized rooms, separate living and dining rooms, eat-in kitchen with fabulous views of the yard, a ground floor family room with gas fireplace and walk-out to the rear deck and private yard with majestic trees. The Master Bedroom features a 3 piece ensuite bath and walk-in closet. All the must haves!
This property is located in Ancaster's Parkview Heights, a very quiet neighbourhood, yet it's just a few minutes to picturesque downtown Ancaster, shopping, schools, parks, transit, and highway access.
MLS Date - Thursday August 6, 2020. More pictures will be available then.
Offers considered - Tuesday August 11, 2020.
Don’t miss out. Make this one yours!
Contact Marion today to arrange your private showing!
New Price: $699,000
# Rooms (above grade): 8
Square Feet: 1853 +/-
Basement: Full, Partially Finished
Taxes - $4,349 (2020)
Lot: 56.38' x 201.00'
Wednesday, July 8, 2020
House and Home Real Estate Market Buying and Selling
Whether you’re prepping your house to go on the market or looking for ways to maximize its long-term appreciation, these nine home improvement projects are great ways to add function, beauty, and real value to your home.
The best part is, once you’ve secured the materials, most of these renovations can be completed over the course of a weekend. And they don’t require a lot of specialized skills or experience. So grab your toolbox, then get ready to boost your home’s appeal AND investment potential!
Spruce Up Your Landscaping
Landscaping improvements can increase a home’s value but which outdoor features do buyers care about most? According to a survey of Realtors, a healthy lawn is at the top of their list. If your lawn is lacking, overseeding or laying new sod can be a worthwhile investment.
Planting flowers is another great way to enhance your home’s curb appeal. And if you choose a perennial variety, your blooms should return year after year. For an even longer-term impact, consider planting a tree.
Clean The Exterior
When it comes to making your house shine, a sparkling facade can be just as important as a clean interior. A rented pressure washer from your local home improvement store can help you remove built-up dirt and grime from your home’s exterior, walkway, and driveway. Just be sure to read the instructions carefully—and only use it on surfaces that can withstand the intensity. When in doubt, a scrub brush and bucket of sudsy water will often do the trick.
Add A Fresh Coat Of Paint
New paint can have a big impact on both the appearance and value of a property. In fact, it’s one of the most effective ways to revitalize a home’s exterior, update its interior, and make it appear larger and brighter. The best part? Painting is relatively easy and inexpensive!
To get the maximum return at resale, stick with a modern but neutral color palette that will appeal to a broad range of buyers. According to a recent survey of home design experts, cool neutrals are a safe bet when it comes to interior paint. And respondents chose white and gray as the best exterior paint colors to use when selling a home. However, it’s important to consider a property’s architecture, existing fixtures, and regional design preferences, as well.
Install Smart Home Technology
In a recent survey, 78% of real estate professionals said their buyer clients were willing to pay more for a home with smart technology features. The most requested smart devices? Thermostats (77%), smoke detectors (75%), home security cameras (66%), and locks (63%).6
The good news is, many of these gadgets are fairly easy to install. And some of them, including smart thermostats and light bulbs, will pay for themselves over time by making your home more energy efficient. In fact, many manufacturers report that smart thermostats can cut back on heating and cooling costs by 10-20%.
If you already own a smart speaker, like Amazon Alexa or Google Home, choose devices that will pair with your existing technology. This will enable you to create a truly integrated (and in many cases voice-activated) smart home experience.
Modernize Your Window Treatments
Smart—or motorized—blinds are also growing in popularity, and several manufacturers make models you can order and install on your own. But they’re not the only way to modernize your window treatments.
If you have old aluminum blinds, consider replacing them with plantation shutters, which are energy efficient, durable, and have strong buyer appeal. Roman and roller shades are another stylish alternative, and they come in a variety of colors and fabrics, which you can personalize to meet your design and privacy preferences.
Fortunately, upgrading your blinds has gotten easier and less expensive in recent years. There are a number of retailers that specialize in affordable window coverings that are simple to measure and hang yourself.
Replace Outdated Fixtures
Drastically transform the look and feel of your home by swapping out dingy and dated fixtures for contemporary alternatives. Start by assessing your current light fixtures, faucets, cabinet hardware, door knobs, and even switch plates. Then prioritize replacing those that are particularly outdated or in highly-visible areas, such as your entryway or kitchen.
Even if your home is fairly new, consider trading your builder-grade fixtures for higher-end options to give it a more upscale appearance. And forget the old rule about sticking to one metal tone throughout your property. According to designers, mixing metal finishes can add interest and character to a space.
For more designer insights and decor trends, contact me for a free copy of my recent report: “Top 5 Home Design Trends for a New Decade.”
Upgrade Your Bathroom Mirror
A minor bathroom remodel offers one of the best returns on investment. I’ve already explored several improvements you can make to your bathroom: new paint, fixtures, and hardware. Now complete the look by upgrading your vanity’s mirror.
Before you purchase a new mirror, examine your existing one to see how it is attached to the wall. Some vanity mirrors are glued to the wall and difficult to remove without shattering the glass or damaging the drywall behind it.
If you prefer to keep your existing mirror, you can paint the frame—or add one if it’s currently frameless. There are several online retailers that will send you the frame components cut to your specifications, which you can assemble and mount yourself. Much like a work of art, your vanity mirror serves as a focal point for your bathroom, so let your creativity shine through!
Shampoo Your Carpet
Carpet is notorious for trapping dust, dirt, and allergens. It’s one of the reasons that most buyers prefer hard surface flooring. But if you love your carpet, or you’re not ready to invest in an alternative, make an effort to keep it clean and odor-free.
To properly maintain your carpet, you should vacuum it weekly. Experts also recommend a deep shampoo at least every two years. Fortunately, this is a cheap and easy DIY project you can knock out in about 20 minutes per room. According to Consumer Reports, you can rent a machine and purchase. It's well worth the effort and expense.
Customize Your Closet
Real estate professionals estimate that a closet remodel can add $2500 to a home’s selling price. Although a professional renovation can cost upwards of $6000, there are many high-quality DIY closet systems you can customize and install yourself.
Experts recommend taking a thorough inventory of your wardrobe and accessories before you get started. Make sure frequently-worn pieces are easy to reach, and store seasonal and seldom-used items on high shelves. Place shoe racks near the closet entrance so they are easy to access. A little planning can go a long way toward building a closet that you (and your future buyers!) will love.
GET A COMPLIMENTARY ANALYSIS OF YOUR PROJECT
We’ve been talking averages. The truth is, the actual impact of a home improvement project will vary depending on your particular home and neighborhood. Before you get started, contact me to schedule a free virtual consultation. I can help you determine which upgrades will offer the greatest return on your effort and investment.
Monday, July 6, 2020
Community News and Events Financial Health House and Home Real Estate Market Buying and Selling
Traditionally, spring is one of the busiest times of the year for real estate. But the coronavirus outbreak—and subsequent stay-at-home orders—led many buyers and sellers to put their moving plans on hold. In April, sales volume fell to its lowest level since 1984, according to the Canadian Real Estate Association.1
However, while sales have fallen, prices have remained stable. Nationally, the average home price in April was down just 1.3% from the same month last year.1 And in many metropolitan areas including Hamilton-Burlington, prices have continued to rise. The Teranet–National Bank Composite House Price Index, which measures 11 major Canadian markets, showed home prices in April were up 5.3% from a year earlier.2
Despite the stats, given safety concerns and the current economic climate, is it prudent to jump into the real estate market now?
Before you decide, it’s important to consider where the housing market is headed, how the real estate process has changed, and your own individual needs and circumstances.
WHAT’S AHEAD FOR THE HOUSING MARKET?
In response to the economic slowdown, the Bank of Canada has slashed interest rates.3 That’s good news for homebuyers who have struggled to afford a mortgage in the past. Lower mortgage rates can bring down monthly payments or increase a buyer’s purchasing power while making it easier to qualify for a loan.
And at a recent press conference, Bank of Canada Governor Stephen Poloz told reporters that interest rates would likely remain low for the foreseeable future. He also noted that the country is on track to meet the central bank’s “best-case scenario for recovery” as outlined in April, and he didn’t predict damage to the economy would be as “dire” as some have speculated.4
While many buyers are eager to take advantage of low mortgage rates, some wonder if recessionary pressures could drive down home prices, too. Economists at the Canada Mortgage and Housing Corporation predict that prices will decrease over the next 12 months.5 However, many real estate industry veterans expect supply and demand fundamentals to prevent a drastic drop in home values.6
There’s been a shortage of affordable homes on the market for years, and that inventory shortage has helped to prop up prices—even as sales have slowed. That’s because supply and demand have fallen at around the same pace.7 Of course, some market segments have fared better than others. For example, demand has softened for urban condos in some areas, which has caused prices to drop. Whereas, the supply of single-family homes in many neighbourhoods has dried up, leaving eager buyers to compete for listings.7
There are certainly opportunities out in the marketplace for both buyers and sellers. But now more than ever, it’s crucial to have a professional real estate agent who understands your local market dynamics and can help you assess the best time to buy or list your home.
HOW HAS THE REAL ESTATE PROCESS CHANGED?
The safety of our clients and our team members is our top priority. That’s why we’ve developed a process for buyers and sellers that utilizes technology to minimize personal contact.
For our listings, we’re holding online open houses, offering virtual viewings, and conducting walk-through video tours. We’re also using video chat to qualify interested buyers before we book in-person showings. This enables us to promote your property to a broad audience while limiting physical foot traffic to only serious buyers.
Likewise, our buyer clients can view properties online and take virtual video tours to minimize the number of homes they step inside. Ready to visit a property in person? To decrease surface contact sellers are asked to turn on all the lights and open doors and cabinets before your scheduled showing.
The majority of our “paperwork” is also digital. In fact, many of the legal and financial documents involved in buying and selling a home went online years ago. You can safely view and eSign contracts from your smartphone or computer.
While these new ways of conducting business may seem strange at first, keep in mind, many out of town buyers and others have utilized virtual methods to buy and sell homes for years.
IS IT THE RIGHT TIME FOR ME TO MAKE A MOVE?
The reality is, there’s no “one size fits all” answer as to whether it’s a good time to buy or sell a home because everyone’s circumstances are unique. But now that you know the state of the market and what you can expect as you shop for real estate, consider the following questions:
Why do you want or need to move?
It’s important to consider why you want to move and if your needs may shift over the next year. For example, if you need a larger home for your growing family, your space constraints aren’t likely to go away. In fact, they could be amplified as you spend more time at home.
However, if you’re planning a move to be closer to your office, consider whether your commute could change. Some companies are rethinking their office dynamics and may encourage their employees to work remotely on a permanent basis.
How urgently do you need to complete your move?
If you have a new baby on the way or want to be settled before schools open in the fall, we recommend that you begin aggressively searching as soon as possible. With fewer homes on the market, it’s taking longer than usual for clients to find and purchase a home.
However, if your timeline is flexible, you may be well-positioned to score a deal. There may be some highly-incentivized sellers who are willing to negotiate on terms and price. Talk to us about setting up a search so we can keep an eye out for any bargains that pop up. Most importantly, get pre-qualified for a mortgage now so you’ll be ready to act quickly.
If you’re eager to sell this year, now is the time to begin prepping your home for the market. Prices could fluctuate, and experts predict a second wave of infections may necessitate another lockdown.8 If you wait, you might miss your window of opportunity.
How has your particular market segment been impacted?
Certain segments will weather this economic downturn better than others. It’s important to understand the market dynamics of your particular area, price point, and housing type. The truth is, broad macroeconomic projections rarely paint an accurate picture of the day-to-day market realities of a given neighbourhood.
How long do you plan to stay in your new home?
During times of market uncertainty, your best bet is to buy a home you can envision yourself keeping for several years. Fortunately, with decreased competition and ultra-low mortgage rates, you’ll be well-positioned to score a great deal.
Is your income stable?
If there’s a good chance you could lose your job, you may be better off waiting to buy a home. The exception would be if you’re planning to downsize. Moving to a less expensive home could allow you to tap into your home equity or cut down on your monthly expenses.
WHEN YOU’RE READY TO MOVE—I'M READY TO HELP
While uncertain market conditions may give pause to some buyers and sellers, they can actually present an opportunity for those who are willing, able, and motivated to make a move.
Your average spring season would be flooded with real estate activity. Right now, motivated players are out in the market. That means that if you’re looking to buy, you’re in a better position to negotiate a great price. And today’s low mortgage rates could give a big boost to your purchasing power. In fact, if you’ve been priced out of the market before, this may be the perfect time to look.
If you’re ready to sell, you’ll have fewer listings to compete against in your neighbourhood and price range. But you’ll want to act quickly—a second wave of coronavirus cases could be coming later this year. Ask yourself how you will feel if you have to face another lockdown in your current home.
Let’s schedule a free virtual consultation to discuss your individual needs and circumstances. We can help you assess your options and create a plan that makes you feel both comfortable and confident during these unprecedented times.
The above references an opinion and is for informational purposes only. It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs.
- CTV News -
- House Price Index -
- CBC -
- Financial Post -
- Canada Mortgage and Housing Corporation -
- RE/MAX -
- Global News -
- CTV News -
Thursday, May 7, 2020
Financial Health House and Home Real Estate Market
These days, it seems like everyone’s looking for ways to cut costs and stretch their income further. Fortunately, there are some simple steps you can take to reduce your household expenses without making radical changes to your standard of living. When combined, these small adjustments can add up to significant savings each month.
Here are 20 things you can start doing today to lower your bills, secure better deals, and begin working toward your financial goals.
- Refinance Your Mortgage - For prime borrowers, mortgage rates are at or near historic lows. Depending on your current mortgage rate and the terms you choose, refinancing could save you a sizable amount on your monthly payments. There are fees and closing costs associated with refinancing, so you’ll need to talk to your lender to find out if refinancing is a good option for you.
- Evaluate Your Insurance Policies - If it’s been a while since you priced home or auto insurance, it may be worthwhile to do some comparison shopping. Get quotes from at least three insurers or independent agents. Try bundling your policies to see if there’s a discount. And inquire about raising your deductible, which should lower your premium.1
- Bundle Cable, Phone, and Internet - You can also save money by bundling your cable, phone, and internet services together. Shop around to see who is willing to give you the best deal. If switching is too much of a hassle, ask your current provider to match or beat their competitor’s offer.
- Better Yet, Cut the Cord on Cable - In many cases, you can save even more if you cancel your cable subscription altogether. An antenna should give you access to the major stations, and many of your favorite shows are probably available on-demand through a less expensive streaming service subscription.
- Revisit Your Wireless Plan - You can often save by switching from a big brand to an independent, low-cost carrier. If that’s not feasible, ask your current provider for a better deal or consider downgrading to a cheaper plan.
- Adjust Your Thermostat - Turning your thermostat up or down a few degrees can have a noticeable impact on your monthly heating and cooling costs. To maximize efficiency, change your filters regularly, and make sure your windows and doors are well insulated.
- Use Less Hot Water - After heating and cooling, hot water accounts for the second largest energy expense in most homes.2 To cut back, repair any leaks or dripping faucets, install low-flow fixtures, only run your dishwasher when full, and wash clothes in cold water when possible.
- Lower Overall Water Consumption - To decrease your water usage, take shorter showers, and turn off the sink while you brush your teeth and wash your hands. If you don’t have a low-flow toilet, retrofit your current one with a toilet tank bank or fill cycle diverter. And irrigate your lawn in the morning or evening to minimize evaporation.3
- Conserve Electricity - Save electricity by shutting off your computer at night and installing energy-efficient LED light bulbs. You can minimize standby or “vampire” power drain by utilizing power strips and unplugging idle appliances.4
- Purchase a Home Warranty - While there is an upfront cost, a home warranty can provide some protection and peace of mind when it comes to unexpected home repair costs. Most plans provide coverage for major systems (like electrical, plumbing, and HVAC) and appliances (such as your dishwasher, stove, or refrigerator).
- Outsource Less - From lawn care to grocery shopping to minor home repairs, we pay people to do a lot of things our parents and grandparents did themselves. To save money, try cutting back on the frequency of these services or taking some of them on yourself.
- Prepare Your Own Meals - It costs nearly five times more to have a meal delivered than it does to cook it at home.5 And home cooking doesn’t just save money; it’s healthier, cuts down on calorie consumption, and can offer a fun activity for families to do together.
- Plan Your Menu in Advance - Meal planning is deciding before you shop what you and your family will eat for breakfast, lunch, and dinner. It can help you lower your overall food bill, eliminate waste, and minimize impulse purchases. When possible, buy produce that is in season, and utilize nutrient-rich but inexpensive protein sources like eggs, beans, ground turkey, and canned tuna.
- Plant a Garden - You can save even more on produce by growing it yourself. If you have space in your yard, start-up costs are relatively minimal. Gardening can be a rewarding and enjoyable (not to mention delicious) hobby for the whole family. And it could save you around $600 per year at the grocery store!6
- Review Memberships and Subscriptions - Are you paying for services and subscriptions you no longer need, want, or can utilize? Determine if there are any that you should suspend or cancel.
- Give Homemade Gifts - Who wouldn’t appreciate a scratch birthday cake or tin of cookies? And if you enjoy crafting, Pinterest and Instagram are full of inspiring ideas. Show your recipient how much you care with a homemade gift from the heart.
- Minimize Your Debt Payments - The best way to reduce a debt payment is to pay down the balance. But if that’s not an option right now, try to negotiate a better interest rate. If you have a good credit score, you may be able to qualify for a balance transfer to a 0% or low-interest rate credit card. Keep in mind, the rate may expire after a certain period—so be sure to read the fine print.
- Get a Cash-back Credit Card - If you regularly pay your credit card balance in full, a cash-back credit card can be a good way to earn a little money back each month. However, they often come with high-interest rates and fees if you carry a balance. Commit to only using it for purchases you can afford.
- Ask for Deals and Discounts - It may feel awkward at first, but becoming a master haggler can save you a lot of money. Many companies are willing to negotiate under the right circumstances. Always inquire about special promotions or incentives. See if they are able to price match (or beat) their competitors. And if an item is slightly defective or nearing its expiration date, ask for a discount.
- Track Your Household Budget - One of the most effective ways to reduce household expenses is to set a budget—and stick to it. A budget can help you see where your money is going and identify areas where you can cut back. By setting reasonable limits, you’ll be able to reach your financial goals faster.
Want more help getting a handle on your finances? Use the budget worksheet below to track income and expenses—and start working towards your financial goals today! Please reach out to me for a downloadable version.
I'M HERE TO HELP
I would love to help you meet your financial goals. Whether you want to refinance your mortgage, save up for a down payment, or simply find lower-cost alternatives for home repairs, maintenance, or utilities, I am happy to provide my insights and referrals. And if you have plans to buy or sell a home this year, we can discuss the steps you should be taking to financially prepare. Contact me today to schedule a free consultation!
The above references an opinion and is for informational purposes only. It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs.
- Insurance Information Institute -
- Department of Energy -
- Money Crashers -
- Harvard University -
- Forbes -
- Money -
Monday, March 30, 2020
Community News and Events Financial Health House and Home
Since the outbreak of the novel coronavirus (COVID-19), many of us are spending a lot more time at home. We’re all being called upon to avoid public spaces and practice social distancing to help slow the spread of this infectious disease. While it can be understandably challenging, there are ways we can modify our homes and lifestyles to make the best of this difficult situation.
Here are a few tips for creating comfortable and functional spaces within your home for work, school, and fitness. I also share some good ways to stay connected as a community, because we’re all in this together … and no one should face these trying times alone.
Begin with the Basics
A basic home emergency preparedness kit is a great addition to any home, even under normal circumstances. It should include items like water, non-perishable food, a flashlight, first aid kit, and other essentials you would need should you temporarily lose access to food, water, or electricity.
Fortunately, authorities don’t anticipate any serious interruptions to utilities or the food supply during this outbreak. However, if you haven't already, it may be a good time to start gathering your emergency basics in a designated location, so you’ll be prepared now-—and in the future—should your family ever need them.
Ready to start building an emergency kit for your home? Contact me for a free copy of my Home Emergency Preparation Checklist!
Working From Home
Many employees are being asked to work remotely. If you’re transitioning to a home office for the first time, it’s important to create a designated space for work … so it doesn’t creep into your home life, and vice versa. If you live in a small condominium or apartment, this may feel impossible. But try to find a quiet corner where you can set up a desk and comfortable chair. The simple act of separating your home and work spaces can help you focus during work hours and “turn off” at the end of the day.
Of course, with schools and daycares now closed, if you have children who are home with you all day separating your home and work life will be more difficult. Unless you have a partner who can serve as the primary caregiver, you will need to help manage the needs of your children while juggling work and virtual meetings.
If both parents are working from home, try alternating shifts, so you each have a designated time to work and to parent. If that’s not an option, experts recommend creating a schedule for your children, so they know when you’re available to play, and when you need to work1. A red stop sign on the door can help remind them when you shouldn’t be disturbed. And for young children, blocking off a specific time each day for them to nap or have independent screen time can give you a window to schedule conference calls or work uninterrupted.
Homeschooling Your Children
Parents with school-aged children may be taking on a new challenge: homeschooling. Similar to a home office, designating a space for learning activities can help your child transition between play and school. If you’re working from home, the homeschooling area would ideally be located near your workspace, so you can offer assistance and answer questions, as needed.
If possible, dedicate a desk or table where your child’s work can be spread out—and left out when they break for meals and snacks. Position supplies and materials nearby so they are independently accessible, and place a trash can and recycling bin within reach for easy cleanup. A washable, plastic tablecloth can help transition an academic space into an arts and crafts area.
If the weather is nice, try studying outside! A porch swing is a perfect spot for reading, and when the weather is suitable gardening in the backyard is a great addition to any science curriculum.
In addition to creating an academic learning environment, find age-appropriate opportunities for your children to help with household chores and meal preparation. Homeschooling advocates emphasize the importance of developing life skills alongside academic ones2. And with more meals and activities taking place at home, there will be ample opportunity for every family member to pitch in and help.
With gyms closed and team sports canceled, it can be tempting to sit on the sofa and binge Netflix. However, maintaining the physical health and mental wellness of you and your family is crucial right now. Implementing a regular exercise routine at home can help with both.
If you live in a community where you can safely exercise outdoors while maintaining the recommended distance between you and other residents, try to get out as much as possible. If the weather is nice, go for family walks, jogs, or bike rides.
Can’t get outside? Fortunately, you don’t need a home gym or fancy exercise equipment to stay fit. Look for a suitable space in your home, garage, or basement where you can comfortably move—you’ll probably need at least a 6’ x 6’ area for each person. Many cardio and strength training exercises require little (or no) equipment, including jumping jacks, lunges, and pushups.
And if you prefer a guided workout, search for free exercise videos on YouTube—there are even options specifically geared towards kids—or try one of the many fitness apps available.
Socializing From a Distance
Even though we’re all being called upon to practice “social distancing” right now, there are still ways to stay safely connected to our communities and our extended families. Picking up the phone is a great place to start. Make an effort to reach out to neighbors and loved ones who live alone and may be feeling particularly isolated right now.
And while parties and playdates are prohibited, modern technology offers countless ways to organize networked gatherings with family and friends. Try using group video conferencing tools like Google Hangouts and Zoom to facilitate a virtual happy hour or book club. Host a Netflix Party to watch (and chat about) movies with friends. Or plan a virtual game night and challenge your pals to a round of Psych or Yahtzee.
There are safe ways to connect offline, too. Rediscover the lost art of letter writing. Drop off groceries on an elderly neighbor’s porch. Or organize a neighborhood “chalk walk,” where children use sidewalk chalk to decorate their driveways and then head out for a stroll to view their friends’ artwork.
Of course, there’s one group of people who you can still socialize with freely—those who reside in your home. Family dinners are back, siblings are reconnecting, and many of us have been given the gift of time, with commutes, activities, and obligations eliminated. In fact, some families are finding that this crisis has brought them closer than ever.
YOU ARE NOT ALONE
Even with all of the tools and technology available to keep us connected, many of us are still feeling stressed, scared, and isolated. However, you can rest assured that you are not alone. I'm not only here to help you buy and sell real estate. I want to be a resource to my clients and community through good times and bad. If you and your family are in need of assistance, please reach out and let me know how I can help.
- CNBC -
- com -