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Many Toronto homes built in the late 1800s still stand today and in the hot real estate market these often centrally placed residences are highly-coveted. If you are fortunate enough to snag one of these beautiful properties, chances are you have a lot of work to do to upgrade the interior to meet today’s safety, building and style standards.
 
Although the vast majority of these century-homes in Toronto have been renovated through the years, there are still some out there that need to be brought into the 21st century. If you have one of these gems, then questioning whether to keep or scrap the building’s original features is a conundrum. On the one hand the original features are often what make these homes so desirable. They are made of very good quality materials – often which are not easily found anymore or used in construction, making them even more of a draw. They add distinct character and personality to a home. They make homes look and feel richer.
 
On the other hand the original finishes of the home will likely be in dire need of refurbishment, polishing up or re-sanding/staining. And, because a lot of the materials used in the original trim, millwork and plaster work found in these homes are no longer being used or are readily available, updating them can be very time-consuming and costly. The easy way out of this is simply removing the original finishes entirely and starting over. While this will appeal to many buyers who prefer new lines and modern finishes, you will alienate a whole slew of homebuyers who prefer to have the original character of a home kept intact.
 
If you are on the fence on what to keep and what to remove consider a compromise – keeping those finishes that you can easily refurbish or restore and replace those elements that would require too much time and expense to redo properly. Those who are able to strike the right balance between old and new will be able to please a host of tastes that will result in a much higher demand for your property, which will translate into a higher selling price.
 
Costlier restorations will include sourcing similar tiles to those that were used, restoring stained or leaded glasses windows and finding matches for original trims. Restorations that will be pricey but easier to source include finding someone to replicate original plaster mouldings or millwork or refinishing centuries-old hardwood floors.
 
Naturally if you are not really thinking about resale, but simply for yourself, then whether to keep the original trims or not really depend on your own tastes. However, if you are at all concerned about your property’s resale value, then choosing the

All of us have a vision of how our perfect Toronto home would look – probably a big mansion with luxurious items and a swimming pool in the back garden! However, the vision doesn’t always match reality. Sometimes many of us find a home in a rented property until the time comes for buying your own house. But making the place as cozy as possible is much simpler than you would initially think.
By doing a few changes, you can make your rented home not only better looking but also feel like your own little corner away from the rest of the world. A place where you would feel happier than if you would’ve been in a five-star hotel.

 
Stick On Tape is Your Friend
If you wanted to put shelves on, but you were afraid of doing damage to the walls, a double-sided stick on tape will do the trick! Easy to put on and easy to remove!
You will be surprised how much can those things hold! There are different tapes available on the market that can hold different weights and you can use them not only for shelves but also for mirrors, pictures and other decorations that you want to add to your walls.
Just stick the item to the wall, hold it for a few seconds and done – now you can enjoy fancy decorations on your walls without having to worry about upsetting your landlord.
 

Add Style With Curtains
Good quality curtains can do an entire makeover to a room, and you should never underestimate their power to completely change how you feel about your home – in a positive way.
Choosing to go with curtains and drapes is the best idea if you are looking to give your home a hint of luxury. Don’t worry about blocking out the natural light a bit too much since by getting double curtain rods, you can pull both the curtains and the drapes aside when you want to enjoy the sunshine, while at the same time keeping the sense of lavishness.
How About Plywood Panels?
The walls of the rented properties are usually all white and boring, and you are not allowed to do anything about it either. An easy way of bringing colour and patterns into your home is by using plywood panels and covering them with wallpaper.
You can lean them against the wall or even stick them on with double-sided tape, and the best part is that you can change them as often as you can without having to risk losing your deposit!
 

Opt-in for Colourful Furniture – Or Decorate Your Existing Pieces
If you want to bring a pop of colour to your rented home, the easiest hassle-free way of doing it is by choosing colourful furniture. While this is an option if you are buying new bits and pieces, it might not be the case if you already have everything you need. But no need to get discouraged!
Since it is your furniture, why not give it a bit of personality? You can paint the cupboards in different colours or add decorations such as sophisticated, colourful stickers.
For the beds and sofas in your home, go for good quality linen, covers, and cushions. You will be surprised how big of a difference can the beddings and sheets make as opposed to sticking to your old worn out ones.
 

Don’t Forget the Rugs
Rugs are a relatively cheap way to make your place much more inviting. Regardless if your rented home has carpets or the floorboards are exposed, by getting yourself new rugs that will match the colours you have chosen for your furniture will instantly make your home the place where you would want to spend more time.
Decorating even a rented home is nowhere near impossible if you let your creativity go wild and let it take you to new places. Just think outside the box and work with what you have in the best way possible. The best part is – you don’t have to spend a fortune! Hopefully, these tips will get you off to a great start!
 

Guest Author Bio:
Zana Dodig
Zana is a window treatments consultant with over 20 years of experience.
You can visit her website at https://www.draperycurtainrods.ca/

With Toronto real estate values so high it is no wonder that many homeowners vacillate between whether they should buy a new home or simply upgrade their existing residence. In many instances upgrading an existing home makes a lot of sense, but it really depends on a number of various factors. Sometimes just finding a new place is the better option. Choosing between the two really depends on what exactly your needs are, your budget is and how invested you are in your existing home.

One of the main reasons to stay is location. In many areas of Toronto real estate has reached an all-time high and buyers are no longer able to afford moving into certain communities. If your home is in such a community and you really want to stay in the neighborhood you currently live in, then upgrading is probably your best bet. However, updating your current dwelling will also depend on whether you have the room to expand or not. If you have the room, then expanding your home or renovating it to suit today’s standards is a very logical move. If you don’t have the room to expand, but all you want is an updated space, then renovations will not only improve your quality of life but will also add value to your home.

Another reason to renovate vs buy new is a lack of choice in comparable neighbourhoods. If you are unable to find a residence you like in another neighbourhood at a price point you can afford, then it is worth staying put and renovating until something presents itself. At that point your home will be worth more and you will actually be able to afford a new dwelling more easily.
Sometimes renovating your home will give you more equity in it and provide you the extra funds.

Reasons to move would include a severe lack of space and no opportunity to expand on your existing plot of land, finding a good investment in an up-and-coming neighbourhood or wanting to experience a new community that is closer to your workspot or the lifestyle activities you would like to engage in.

Regardless of what you decide, the decision is never easy but will almost always result in a higher net worth – as long as you have weighed your options properly and thought-through all the variables.

Toronto’s real estate market is hot. Despite the slow down that it experienced last year, the market is still humming along nicely. Although the gains are not as high as those seen in previous years, they continue in the high single digits. So, investing in the housing market remains a wise decision. Naturally, there are some areas of the city that area nearing their peak value level. Therefore, if your are planning on maximizing your return on investment you should look to up-and-coming communities.

Toronto’s east end is the area to watch in 2019. With much of the west already gentrified, many investors and homeowners are looking to the east for good deals, and with good reason. With Leslieville already established as a hot neighborhood, the next shoot to watch is Gerard Street East. Many new store fronts and restaurants have opened lately and it is seeing a major transition from what it was before. Some are comparing it to what Leslieville was a decade ago. Two other neighbourhoods to watch are East Harbour and the East Danforth. East Harbour is looking up due to the expected new transit stop at Gerrard and Carlaw. There is a new development planned for East Danforth that is expected to ease the strong demand this area is currently experiencing.

If you are not interested in the east, you can always look to Oshawa, Clarrington, Innisfil, Brock and New Tecumseh. All of these areas are now easier to get to given the extension of new highways and the building of new transit options. They offer plenty of value as homes are still relatively lower priced compared to other areas of the city and are much more affordable.

Investors and homebuyers should take heart that Toronto is set to continue its real estate growth in 2019. As a magnet for new immigrants to Canada and with that putting pressure on housing, the potential for the GTA housing market is still significant.

If you have been thinking of getting into the Toronto housing market you will have noticed that what you can get for your money varies tremendously from neighbourhood -to-neighbourhood. First-time buyers are always at a disadvantages when it comes to getting their feet wet in real estate when the market is high because being able to afford something that suits their needs can be tricky. There are a few tried and true tricks to getting into an overvalued market that you should definitely keep in mind if you are gearing up for your first foray into real estate.

Having a good down payment is essential to finding a property that you can afford. If you are not quite there yet with your finances, consulting a financial planner to help you meet your down payment goals is key to success. If you are currently renting a place, a good rule of thumb would be to put away whatever extra per month you would have to pay for a mortgage, insurance and taxes. That extra portion will not only show you whether you can feasibly afford to buy a home and maintain it, but it will also give you that extra push towards reaching your savings goal.

The best first step into a heated real estate market in Toronto is to purchase a condo. Condos will have a decent resale value as there will always be someone wanting to either get into the game or to downsize. If the condos in your preferred areas are still out of your price range, then consider buying a new build place off-plan. Once it is built it will appreciate significantly enough to make your deposit worth it. Once the first tenants move in, the appreciation rate drops-off but by the time you are ready to sell to move up the ladder, you will have earned back everything you put into your condo.

If you are not willing to go the condo route to get into the market, then choosing a neighbourhood you can afford is the other best method of breaking into real estate. You will have to trade-in proximity to the city and perhaps endure a longer commute in to work every day, but once you have a foothold in the market, it is always easier to move up.

Investing in real estate in Toronto remains a good investment despite the market starting to slow down. Regardless of current market conditions real estate is always a solid investment because property will appreciate over a 10-year cycle. However, that said – real estate is definitely not for the faint of heart as there are many costs associated with housing that can make a huge dent in a budget if you are not properly prepared for it.

If you are looking to buy your principal place of residence a slow market is actually beneficial to you as pricing levels off and you are better able to get what you want at a price that is within your budget. Buying and holding on long-term will nearly always result in a positive investment. Where you run into potential risks is when you buy as a quick investment.

Many people buy believing that they can renovate the property and sell it again for a profit. Such an investment does require a fair bit of knowledge about the home renovations, relationships with contractors who are ready and willing to work on your project quickly and it also requires the funds to float the property and the renovations while also supporting the carrying costs of the home including the mortgage, taxes and utilities. In fact, this is where many novice real estate investors lose their footing. They miscalculate just how much it will cost to renovate and carry the property they have purchased. They also forget that there are tax implications in flipping homes in Canada.

If you sell a property within 2 years, the government will count the profit as business revenue and tax it as such and will also expect the HST to be added to it.

Those who are considering the purchase of investment property for rental purposes should make sure to structure their finances in such as way that they are able to support the mortgage and tax costs should they fail to find a suitable tenant for a month or more. Since real estate is not easily divested, it is important to consider all facets of the situations before jumping in. You must be prepared to ride the waves of the market and to understand that it might not always be smooth sailing. If you are ready for this, then you will certainly be able to walk away richer from a Toronto real estate purchase.