By: Thomas Cook

What Happens During A Home Inspection?

What Happens During A Home Inspection?

Not all home buyers have had the opportunity to witness a home inspection first-hand, especially if it’s your first time buying. But a home inspection is not something to be avoided (for your own good) and your lender may event require it before they cough up the financing.   What does a home inspector look at?   A home inspector will inspect the home’s systems (such as HVAC, electrical and plumbing) as well as the interior and exterior. They may only use a ladder to get onto certain parts of the roof if they can’t see them properly, but otherwise they will not move anything around.   They will inspect the foundation, the drainage in the soil around your home...Read More

By: Thomas Cook

Why Should You Always Get A Mortgage Approval?

Why Should You Always Get A Mortgage Approval?

Why You Should Always Get A Mortgage Pre-Approval   A mortgage pre-approval is when you visit a lender and are pre-approved for a mortgage before you begin looking at homes. When you do this, the lender will provide you with a written approval for an amount with a fixed interest rate – however, this is not a guarantee and it may only be valid for a certain amount of time.   Even though it may be temporary and not a guarantee, a mortgage pre-approval is both essential for the buyer and seller during the home buying process, especially in today’s competitive real estate market.   Why is a mortgage pre-approval so essential?   A mortgage pre-approval will tell yo...Read More

By: Thomas Cook

There aren’t enough superlatives to describe what’s happened [VIDEO]

There aren’t enough superlatives to describe what’s happened [VIDEO]

  Sales were up 7.4% for April compared to last year with 12,085 houses and condominiums changing hands in all the districts. Sales are actually up 34% above the last 16-year monthly average.   Condo townhouse and high-rise suites took a 30.4% share of the market with 3,671 units being sold.  This percentage of the overall market is about average for April.   The April average sale price for all GTA homes came in at $739,082– a significant 16.2% higher than last year.   The active listing inventory is one of the strongest indicators of how smooth or outrageous the market has been.  We had a 39% decline in inventory for the month of April compared to histo...Read More

By: Thomas Cook

Toronto Condo Rentals And Rent Prices Increase

Toronto Condo Rentals And Rent Prices Increase

The vacancy rate for apartments in Toronto remains very low, and as a result, more and more people are renting condos. In the first quarter of 2016, there were 6,458 condo rental transactions according to the Toronto Real Estate board, which is an increase of 6.5% over the same time last year.   Are you thinking of using your condo to generate rental income, or are planning on buying a separate condo for that purpose?   The average rent for a two-bedroom condo increased by 8.9% to $2,375, while the average rent for a one-bedroom condo increased by 4.8% to $1,662.   “It’s not just the home ownership market that is tight in the Greater Toronto Area,” said the p...Read More

By: Thomas Cook

The Best Renovations For Your Investment When Selling

The Best Renovations For Your Investment When Selling

Did you know that there are certain renovations that will give you the best return on your investment, while there’s a surprising few others that just plain aren’t worth the cost? If you’re planning on selling your home in the future and are planning on renovating a bit to boost your home’s value, read on.   The worst bang for your buck   When you were a kid, didn’t you always want a house with a swimming pool? Most homeowners think that a swimming pool is a great way to add value to their home. Surprisingly, it’s one of the worst ways. This is because the majority of homebuyers can see a swimming pool as a huge maintenance chore, and while a poo...Read More

By: Thomas Cook

Prepping to Sell Your Home in the Spring

Prepping to Sell Your Home in the Spring

The busy spring market is upon us in Toronto – and has been for a little while now. If you’re planning on selling your home this spring, it’s time to get your house out of winter hibernation mode and make it really shine. Here are three key areas to focus on so you can attract the right buyers and get the best value for your home:   Curb appeal: Curb appeal has a huge impact on potential buyers – after all, it’s basically the first impression that your home makes. Make sure that the exterior of your home is clean and clear of any debris like leaves, dead branches, or any other remnants from the winter months. This early in the spring, the leaves haven&rsquo...Read More

By: Thomas Cook

Has the average sale price topped out ? [VIDEO]

Has the average sale price topped out ? [VIDEO]

Sales were up 16% for March compared to last year with 10,326 houses and condominiums changing hands in all the districts. Sales are actually up 25% above the last 16-year monthly average.   Condo townhouse and high-rise suites took a 32.6% share of the market with 3,362 units being sold.  This percentage of the overall market is about average for March.   The March average sale price for all GTA homes came in at $688,181– a significant 12.1% higher than last year.   The active listing inventory is one of the strongest indicators of how smooth or outrageous the market has been.  We had a 35% decline in inventory for the month of March compared to historical num...Read More

By: Thomas Cook

Do You Really Need A Home Inspection As A Buyer Or A Seller?

Do You Really Need A Home Inspection As A Buyer Or A Seller?

In today’s real estate market, many buyers are feeling the heavy competition and limited supply. As a result, it’s in their best interest to do all they can to move the purchase of their home ahead in a timely fashion, and they might worry that wanting to get a home inspection will unnecessarily aggravate sellers or make their offer unappealing.   The reality is, whether it’s a resale home, a condo or a new home from a builder, a home inspection is never a waste of time or money for the buyer. While your budget might feel like it’s stretched to the max during the home buying process, the few hundred dollars spent on the actual home inspection should be thought of...Read More

By: Thomas Cook

Survey Reveals What New Home Buyers In Toronto Are Looking For

Survey Reveals What New Home Buyers In Toronto Are Looking For

BILD, the Building Industry and Land Development Association, recently published the results of a survey it conducted of new homeowners across six different provinces in conjunction with the Canadian Home Builders’ Association to get a sense of just what Canadian home buyers are looking for.   Some highlights:   26 per cent of new home buyers are Millenials and 54 per cent are Generation X.   The most preferred in-home features for new home buyers are energy-efficient features, storage space, and multi-functional kitchen space. Buyers who were interested in high-rise homes, like condos, felt that 24-hour security, exercise facilities and building-wide Wi-Fi were most imp...Read More

By: Thomas Cook

Ontario Government Announces New Rebates For Home Owners

Ontario Government Announces New Rebates For Home Owners

The Government of Ontario has announced that they are creating a new program to offer rebates for homeowners who have an energy audit done on their home and then follow through with the recommended retrofits.   In past years, a similar program called the Ontario Home Energy Savings Program offered similar rebates of up to $5,000 when homeowners made the recommended green renovations on their homes and the program proved very successful. During the previous program, over 428,000 home owners had audits and 380,000 followed through on the retrofits to make their homes more eco-friendly and energy-efficient.   “Today’s announcement is good news for Ontario home owners,&rdqu...Read More