Ontario real estate

Welcome back!

2021 in the Toronto real estate market is certainly taking its lead from the last quarter of 2020. Despite the pandemic buyers were eager and their enthusiasm drove the real estate market to post record gains in some sectors. Although the city condo market remained flat, the housing market heated up.

The latter half of the year posted especially strong numbers. Toronto housing prices increased by 13.8% in November, year-over-year. And, the usually very quiet holiday month of December saw housing sales increase by an extraordinary 64.5%. According to an article in the Toronto Sun, experts are expecting the strong seller’s market to continue.

The surge in activity in the Toronto property market is really a tale of two realities – houses vs condos. While the housing marketing is red-hot, the condo market is facing some tough head-winds. The reality of the pandemic and the difficulty people have found of living in a city in small condos with little room to move around vs owning a house in either the suburbs or the country has been the catalyst for this uneven market.

With the pandemic still not under control, people will likely continue looking to make significant lifestyle changes. Should this trend continue then the Toronto real estate market is heading towards another banner year – especially given the continuing shortage of inventory for single family homes – a factor that will certainly push prices up further.

Regardless of market conditions, you should only jump into the current market if you are very well prepared financially

Toronto’s condo market, which for years was robust and posted yearly gains, has softened and regular investors are having to make difficult choices. According to the Financial Post, where investing in a condo seemed like a solid, secure investment even just a year ago, because of the pandemic and the exodus from the city’s core, rents have plunged and condo prices have dropped.

If you purchased an off-plan condo two years ago at the peak of the market as an investment, then you could very well be underwater today unless you are able to carry the loan costs. With the dip in what owners can ask for in rent, many condo buyers are seeing themselves in the scary position of either having to sell at a loss or cover the shortfall in rent that would have otherwise covered the mortgage payment. Since rents have fallen significantly since the start of the year, what an owner can now ask for in rent will, in many cases, no longer cover the mortgage, insurance, condo fees and taxes – leaving owners out-of-pocket for the difference.

The hardest hit sector are condos that are yet to be finished. People who have bought off-plan and are waiting for their condos to be completed are now seeing that they will likely be unable to afford their units once completed. In fact, according to the Financial Post article, many of these buyers are even willing to sell at a loss just to get out of their contracts.

There is no doubt that the market will recover. However, until that happens the condo market is likely to remain flat and could potentially see an even larger drop than the 3% decline that we have seen this year.

While the market might be facing some challenges right now, once the pandemic is over and life begins getting back to normal, there is every reason to believe that people will once again want to live in the city and that condo sales will again be a solid investment.

Toronto real estate has been so hot buyers want whatever edge they can get when bidding. Hence, many have begun writing letters to sellers to help land their perfect next home. We’ve all heard about these letters – the person who bid thousands under the list price but whose offer was accepted because of the letter they wrote. Whilte such cases do exist, they are not the norm, and letters can help in very specific instances. However, you want your letter to help your offer – not hinder it, and there are some very crucial elements to include that will do just that.

>p>So, what makes a good letter? A good letter will have a personal touch. It will speak to the seller on an emotional level and create a link between you and them. A good letter will tell the seller why you want to move into their home and how it will make your life that much better. Let them know that having a dog park right next door is perfect for your little Fido. Describe how you fell in love with the fireplace and can’t wait to celebrate the holidays with family around a roaring blaze. Or, let them know how the large kitchen is perfect because you love to cook and you will relish being able to really sharpen your culinary skills. By letting them know that you have made an emotional connection to the house your letter will stand out from the pack.

The things you want to avoid at all costs are negativity, a tone that’s too business-like and even the merest hint of condescension. You also want to avoid anything that doesn’t pertain to the sale or rental of the property. Sellers won’t care about your personal problems or current living situation. They won’t sell you their house for less just because you have a hard life and come from a stressed situation. Including anything negative is more likely to turn a seller off than seal the deal. A seller is more likely to sell for less if they feel that they have connected with you over the potential you see in their home.

Interestingly, while letters of purchase are commonly assumed to be written for home purchases, they are increasingly making a difference to renters as well. In fact, a letter of intent for a rental unit will show the owner of the unit that you are respectful of their property and will take care of it. Such letters can have a huge impact even in a slow rental market.

So, paint a happy picture of how you can see yourself living in the house or apartment and how well you would integrate into the neighbourhood and you will definitely increase your chances of getting the home you want.

For nearly two decades the condo market in Toronto has been on a tear. Sales have increased month-over-month and year-over-year with no end seemingly in sight… Until now. The pandemic has brought to light the limitations of condo life. When people have to self-isolate within their own homes, and that home is a one-bedroom condo it can get very tight, very fast especially if you are sharing it with someone else. although the easy fix would be to give up your rental or to sell your place and move out to a bigger one, the more realistic fix is to find ways to make self isolation in a limited amount of space less stressful and more appealing.

With condo boards shutting down amenities such as games rooms, fitness rooms, indoor pools, etc… Many condo residents have had to find creative ways to stay in shape while remaining self-isolated. During the summer it would have been possible to go outside daily for some fresh air and a change of scenery. However, with the weather getting colder it is necessary to find other ways of staying fit and sane while indoors. If you live in a high-rise condo, you can use the stairwell as a modified stair climber. Or, you can get your steps in by walking up and down the corridors. If you don’t feel secure enough to leave your unit, then it is possible to find exercise videos on YouTube aimed specifically at people who live in apartments or condos and don’t want to make noise while working out. These handy videos can help you stay in shape and keep your sanity while stuck inside.

Another good idea for keeping your spirits up while self-isolating is to create zones for yourself. Even if you live in a studio-like condo, designate areas for certain activities. If you are working from home, set up a home office somewhere other than next to your bed. Even if it has to be at your kitchen island or at the table, separating your work from where you go to sleep is very important. Let your sleeping area remain your sleeping area. it will help you to unwind and relax after you shut off your computer at the end of the day.

And, that is another important point – make sure to actually shut off your computer and put it away at the end of the day. You will be less tempted to check emails and to continue working if it is out of sight. It is very necessary to your mental health to power down and to give yourself a break. It is very easy to continue working well into the evening and night, especially when you’re confined to your home with nowhere else to go. However, this can be highly detrimental to your state of mind and your well-being. Torontonians are known for their strong work ethic, but in this instance it is better to take care of your sanity than to answer that last email.

Whenever the weather permits it is a good idea to go on walks in nature. If you are able to get out to a nature reserve or walk to a park near your place, then definitely do so. Studies have shown that walking in nature helps to ease stress and tension.

Keep in touch with family and friends via zoom or other communication platforms. It is very important to have connections with your circle during such a time. This is especially important now that the pandemic has been going on for so long and we are currently in a second lockdown.

Lastly, make sure your condo has good airflow and invest in an air purifier with a HEPA filter if you can. Keep surfaces clean and sanitary and if anyone does come over make sure that you are wearing your mask and you keep 2m apart.

We will get through this!

When winter hits Toronto, the snow and ice that come with it can make blistery mornings especially tough for those who have driveways to shovel out. Whether you have a snow removal service, a snow blower or a good, old-fashioned shovel, dealing with snow and ice can be a pain – especially when you are rushing to get to work. A more recent solution is the heated driveway.

While heated driveways and walkways have been used extensively in the commercial realm for the last 25 years, their adoption in the residential sector is more recent. There are two types of heated driveway – electric and hydronic. The electric heated driveway is easier to install but it is harder to maintain a constant temperature. The hydronic heated driveway uses an anti-freeze water solution in pipes under the surface to maintain the temperature you want.

There are a number of good reasons to install a heated driveway.

– They save you time you would otherwise spend shoveling

– They save your driveway surface from harsh chemicals used to melt snow and ice

– Keeping your driveway surface at a constant, above-freezing temperature will help the surface last longer

– Prevents slips and falls

– Will increase the market value of your home

There are also a few reasons to not install heated driveways.

– Initial installation is expensive

– If an element breaks, it will mean breaking a part or all of your driveway to fix it

– Your utility costs will increase

Also, keep in mind that even if you have a heated driveway, you will still have to shovel your walkway unless you install a heating system in that as well.

A heated driveway can last anywhere from 10-20 years as long as it has been installed correctly. You can use your heated driveway just as you would any other driveway, although it is best not to allow any heavy trucks onto it to avoid potential damage to the heating structures underneath it.

Renovations are always exciting. Once you decide that your Toronto home needs a facelift, the next steps obviously include choosing the design for your project and all of the materials and fixtures that will make it what you want it to be. However, translating your vision into reality will require a good, experienced and trustworthy contractor. Choosing a contractor is very much like choosing anything else – you must do your research before hiring anyone.

Start out by asking friends and family if they have used anyone they would recommend. Chances are, someone in your circle will have a contractor to recommend. If no one among your group of friends has any suggestions, look on neighbourhood business boards for local contractors or look online for suggestions in your area. Although it isn’t necessary to hire someone locally, you might have to pay a premium for the travelling a contractor who usually conducts business on the other side of the city will have to do. Some contractors won’t even accept jobs that are not close to them as it is not worth the travel time they lose.

Once you have three or four contractor names, it’s time to set up meetings with them to find out what they can offer you and to see whether you get along. Since these people will be in your home for extended periods of time and will be remodelling the Toronto home you live in, it’s important that you are able to easily communicate what you want.

Get quotes from your shortlisted contractors and make sure those quotes include details of what materials they will provide and what you need to provide. Make sure that the quotes include solid timelines for when they will start and finish the work. They should also have a very clear payment schedule.

When meeting with the contractors be sure that they bring portfolios of the work they have done along with references that you can contact. And, also see if there are gaps in their work history – sometimes gaps are explained by illness or having taken some time off, but if there are too many gaps between jobs, then it is not a good sign. Be sure to contact the references to see if they had a positive experience with the contractor.

Lastly, find out if you could visit current job sites to see how they work. A good contractor will have no problem having you visit.

A few red flags to look for include;
– Not being able to contact them easily
– Having no portfolio of their work or very badly taken photos of their work
– Refusing to give you a solid timeline for when the work will get done
– Refusing to give you references
– Insisting on getting paid either up front in full for the job or demanding the majority of the costs up front
– Bidding too low for the job – it means they will likely be cutting costs somewhere

As with anything else, as long as you do your due diligence and investigate the contractors on your short list, you are sure to find the perfect match for your job.

Choosing the correct lighting for your Toronto home can be a tricky proposition. There are so many varieties of lighting and fixtures available that deciding on the perfect illumination can take some time.

There are three types of light in a home: ambient, task and accent.

Ambient lighting is the light that fills the room. More modern ambient lights tend to come from pot lights, although fixed centre ceiling lights are still quite common. The amount of ambient light in each room of your home will vary with kitchens and bathrooms requiring the most light.

Task lighting refers to lighting used for specific applications – to help you apply makeup, read a book or work easily on a counter. Task lighting need not be hardwired into your walls – although it can, but can also come in the form of lamps sitting on desks or floors, bulbs on mirrors hanging in your room or even be mounted on a wall. Task lighting really is meant to provide light in a very small area.

Accent lighting is meant to be decorative and to draw the eye to a specific object or spot in the room. Accent lights come from any number of light fixtures, but are usually the kind that can be directionally focused on one area or object.

Usually a good lighting design incorporates all three forms of lighting into a home. For instance, kitchens usually have ambient lighting in the form of pot lights on the ceiling, task lighting in the form of under cabinet lighting and accent lighting in the form of pendant lights over the centre island. Bedrooms usually have one overhead ambient light and smaller task lighting for bedside reading.

The kind of lighting fixtures chosen will have a huge impact on the look of your overall home design. Whether it is recessed, flush mounted, pendant, chandelier or sconces will help pull your room’s style together. So, when choosing lighting for your home, it is best to have a unified look or theme. Whether your home has a modern design sensibility, a contemporary aesthetic, a traditional feel or a country-home vibe, the correct lights will go a long way towards creating the kind of ambiance that will make your house a home.

Along with cabinets, counters in any kitchen must be both functional and attractive. As counters take up a large surface area, choosing the correct material and hue will be crucial to pulling your space together.

In the past, counters were fairly basic and were made using either butcher block, stainless steel, melamine, concrete or tiles. In more recent years natural stone counters have come to dominate the counter market. Today you can select from amongst granite, quartzite, quartz, marble, limestone and soapstone counters along with the more traditional options.

So, what’s the difference between the natural stone options? While they are all strong and resilient, certain stones are better suited to counters than others. We’ll look at the top options over here.

Quartz

The best choice in counters for those who want the least maintenance is quartz. Engineered using quartz fragments/dust and resin, this extremely hard and durable material is highly resistant to scratches, chips and stains and can be easily cleaned with regular cleaners. It also doesn’t require any sealing to be done. The only drawback is that high heat can occasionally melt the resin in the material and leave a mark – so, using a trivet or hot plate is a must. Quartz comes in a variety of colours and designs, which means that it is very easy to choose the exact colour/pattern that you want for your space – and since they are engineered, they don’t have imperfections like natural stone does. Quartz is similar to granite in cost and can be quite expensive.

Granite

Polished granite continues to be the most popular choice in counters. Not only is granite very strong and resilient, it has a luxurious quality and every slab is unique. Similar to quartz, granite is heat resistant but should not be exposed to high temperatures for extended periods of time as that can remove the sealant from your counter. Granite also needs to be sealed every year since it is a porous rock and can stain if not properly cared for. Along with quartz it is among the more expensive countertop options.

Soapstone

Soapstone was historically used in farmhouses and centuries-old homes, however, it is seeing a resurgence as it is a durable, easily maintained surface for kitchens. Soapstone comes in only one dark grey colour with light veining and tends to darken over time. It also forms an antique-looking patina that will lend itself well to kitchens with an old look/feel. Soapstone is highly durable, fairly heat resistant is resistant to scratches and chips, although these can occur. If/when they do, they can be buffed away to keep the counter looking its best – or if they are allowed to remain, will add to the antique feel of the counter. They do need to be sealed every year with mineral oil.

Marble

Although marble will always be included in the list of most desirable countertop materials, it is the softest, which means that much greater care is needed to keep it looking its best. It chips and scratches fairly easily and due to its highly porous nature it stains far more quickly than other stones – even after sealing. However, marble is still a very luxurious stone and one of the most attractive as well. Of course, it has one of the higher price tags of all the countertop options, but if you are willing to put in the work of keeping it looking its best, then it can be one of the highlights of your home.

While the other stone options are also very desirable in kitchen settings, they tend to be less used than the ones above, but can definitely create a huge impact when chosen well.

The faucet you choose for your Toronto kitchen remodel will make all the difference in the world when it comes to washing up. Along with the sink you choose, the faucet will play an integral role in setting the tone for the style of your kitchen. And, with so many styles to choose from and features to consider, finding the right fit for your needs and budget can take longer than you anticipate.

Gone are the days where your kitchen faucet was a standard tap with two temperature control knobs on either side. Today’s range of faucets include everything from your old fashioned versions to touchless, sensor-controlled taps that require merely a wave of your hand to activate. The faucet you choose will need to fit into your renovation budget and the design tone established for your kitchen.

Gaining in popularity are touchless faucets. There are two versions of touchless taps – those that are powered with triple A batteries and those that are hardwired to the home’s electricity. Both options work just as well, with the battery powered faucets simply requiring battery changes every so often. Depending on the brand installed, regular faucet use will require the batteries to be changed every year. While the hardwired versions won’t require battery changes, they will require an electrician to install.

Although slightly more expensive than their counterparts, touchless faucets have several advantages.

Fighting germs

In our pandemic-driven world, germs are a very real concern. Faucets are a high-concentration area for germs since you must touch the faucet before washing your hands. Having a touchless faucet in such instances is highly convenient and makes it easier to keep germs at bay.

Convenience

When cooking your hands will get dirty – and turning on the tap while your hands have been touching raw meats or kneading dough will mean having to disinfect your fixtures afterwards. However, with a touchless faucet you can wash your hands without worry of having to clean/disinfect your taps.

Conservation

Another advantage of a touchless faucet is water conservation. The water won’t keep running, the sensor will automatically shut off so there is no water wastage. If you pay for water consumption, you will readily see a savings after the installation of a touchless faucet.

There are some cons to consider if you are thinking of a touchless faucet. They are more expensive than a regular faucet. They do need an electrical source and, if it is hard-wired to your home’s electricity, in a power failure you won’t have water. Lastly, you can unintentionally activate it when moving dishes around. Overall, a touchless faucet is considered an upgrade and will add value to your home.