By: Thomas Cook

3 Things You Absolutely Need To Be A Successful Buyer

3 Things You Absolutely Need To Be A Successful Buyer

Cash, Cash, Cash…   You’ll definitely need the big bucks to buy a house or condo in Toronto.  For purchases up to $500,000, you’ll need a minimum of 5% down payment and for purchases between $500K and $1,000,000 you’ll need a minimum of 7% down.  Closing costs are over and above that.   When asked by a bank lender or mortgage broker how much cash you have, give them an exact figure for your total and tell them that includes money you’ll need for closing costs so there’s no confusion.   Your cash can come from your bank account, your RRSP, any GICs or Term Deposits or from the bank of Mom and Dad or any combination thereof.   ...Read More

By: Thomas Cook

BIG Drop In The June Market Stats

BIG Drop In The June Market Stats

Sales were down 37.4% for June compared to last year with 7,974 houses and condominiums changing hands in all the districts.   Condo townhouse and high-rise suites took a bigger 37.6% share of the market with 3,000 units being sold.   The June average sale price for all GTA homes came in at $793,915 – a still significant but much more moderate 6.3% higher than last year.   Because of higher prices for semi and detached houses, sales and competition for condo suites has now brought the high-rise market into extremely high demand.   The active listing inventory is one of the strongest indicators of how smooth or outrageous the market has been.  The inventory aver...Read More

By: Thomas Cook

Why Meet With An Agent Before Starting Your Home Search?

Why Meet With An Agent Before Starting Your Home Search?

One of the things that most agents do when you first contact them is to ask you a few questions over the telephone such as what are you looking for, how many bedrooms and bathrooms and what neighbourhoods were you thinking of?   Then they will just throw you in their car, take you around and tour you through a bunch of homes.  More often than not many of those homes don’t fit your needs.   The problem with that is it wastes your time.  You spend your weekends or evenings going out and looking at homes that don’t even come close to what you really want to be moving into.   The Buyer Consultation is all about saving you time and getting clarity!   We f...Read More

By: Thomas Cook

3 Improvements NOT To Do Before Selling Your Home

3 Improvements NOT To Do Before Selling Your Home

It’s tempting… install new hardwood floors, add in a new granite countertop, build in new closet organizers, hang new window coverings… all the things you’ve always wanted to do to your suite. A typical buyer often has three problems when it comes to doing renovations, and this especially applies to first-time buyers who have no experience whatsoever.   First, the thought of doing any renos scares them because they have no idea what things cost and they almost always estimate the expense as twice as much as it really is.  Second, they’re often busy, busy people and have no time to do things themselves and third, after paying their down payment and ...Read More

By: Thomas Cook

Get Some Timeline Guidance For Your Mortgage

Get Some Timeline Guidance For Your Mortgage

  Actually, it’s never too early to start thinking about how much of a mortgage you might qualify for.  Many people start looking at condos or houses online or at open houses 6-18 months ahead of when they’re thinking they might buy.   Having a realistic figure in mind about how large of a mortgage you could get approved for will save you a lot of time (and dreaming).   Another good reason to get an early pre-approval is that, in all probability, you will find out things about your credit or about what you need income-wise that you didn’t know before.    You can then use your lead time profitably to clear up any issues, solidify jobs or create...Read More

By: Thomas Cook

Some Relief From April’s Market Madness

Some Relief From April’s Market Madness

  Sales were down 20% for May compared to last year with 10,196 houses and condominiums changing hands in all the districts.   Condo townhouse and high-rise suites took a bigger 35% share of the market with 3,565 units being sold… just 120 fewer sales than in April.   The May average sale price for all GTA homes came in at $863,910 – a still significant but more moderate 14.8% higher than last year.   Because of higher prices for semi and detached houses, sales and competition for condo suites has now brought the high-rise market into extremely high demand.   The active listing inventory is one of the strongest indicators of how smooth or outrageous the...Read More

By: Thomas Cook

What Condo Features Should You Consider When Buying?

What Condo Features Should You Consider When Buying?

(Layout, light, view, balcony, parking/locker, any upgrades necessary, % of tenants vs owners, bldg security, bldg amenities)   Buying a condo suite in a low- or high-rise building has some similarities and some differences to buying a house.  You’re not concerned directly with some of the physical attributes of the building such as the age of the roof and furnace or is there water leaking though the foundation into the basement.   Typically a buyer is more concerned with the interior of the suite and the building’s amenities and security.  You do want to know about the physical state of the building from an analysis of the Reserve Fund Study which comes with ...Read More

By: Thomas Cook

Successful Ways To Avoid Dreadful Scarcity Thinking

Successful Ways To Avoid Dreadful Scarcity Thinking

This is a BIG one… getting rid of the accumulation of years of stuff!  Sometimes it is piles of books, newspapers and other paraphernalia that have built stacks and other times it is extra furniture or kids toys that have grown in numbers. Either way, the goal is to slim down, dispose of LOTS of stuff and put items into storage that you will want in your new home.   By creating more ‘space’ you’ll be making your condo suite seem larger than it might be and larger sells.  You will also have eliminated a lot of your personal things making it more attractive to the buyer. Many folks find it easier to begin with clearing out their condo locker, an area ...Read More

By: Thomas Cook

Toronto’s market did a hiccup mid-month

<strong>Toronto’s market did a hiccup mid-month</strong>

  Sales were down slightly for April compared to last year with 11,630 houses and condominiums changing hands in all the districts. Condo townhouse and high-rise suites took a 32.4% share of the market with 3,768 units being sold… a highest-ever number for any April. The April average sale price for all GTA homes came in at a record breaking $920,791 – a significant 24.5% higher than last year. Interestingly, sales and competition for condo suites has now brought the high-rise market into extremely high demand. The active listing inventory is one of the strongest indicators of how smooth or outrageous the market has been.  We had a 29% decline in inventory for the ...Read More

By: Thomas Cook

Reduce Your Risk Of Indoor Air Pollution

Reduce Your Risk Of Indoor Air Pollution

“I need some fresh air” – it’s not just something people say when they want to get away for a few minutes. While indoor air can be just plain stale, it can also habour pollutants and other contaminants that can affect your health. And as we head into those hot summer months, those of us who are energy-conscious will be sealing up our homes tightly to ensure our air conditioning runs as efficiently as possible – keeping even more indoor air pollution trapped inside.   Proper insulation   Ensuring your home is properly insulated goes a long way to conserving energy. Insulation, when installed properly, keeps your home warm in the winter and cool in the s...Read More