Open House. Open House on Saturday, August 7, 2021 2:00PM - 4:00PM Spectacular premium size 0.5 Ac ( 21,613 sf ) property and a stylish character home with 3 BR + den, 3 BA, 3 levels including an undeveloped bsmt. Home is set back from road for privac
Open House. Open House on Sunday, August 8, 2021 2:00PM - 4:00PM Spectacular premium size 0.5 Acres ( 21,613 sf ) property & a 1938 built Character home with 3 BR + den, 3 levels including an undeveloped bsmt. The home is set back from the road for p
Open House. Open House on Saturday, July 31, 2021 2:00PM - 4:00PM Fabulous, central Maplewood location comprised of .5 acres (26,000 s.f.) of land and a lovingly maintained 1938 character home. Features 3 bed, 3bath, 2200 s.f. on two levels + basement. G
Open House. Open House on Sunday, August 1, 2021 2:00PM - 4:00PM Fabulous, central Maplewood location comprised of .5 acres (26,000 s.f.) of land and a lovingly maintained 1938 character home. Features 3 bed, 3bath, 2200 s.f. on two levels + basement. Gr
Open House. Open House on Saturday, July 24, 2021 2:00PM - 4:00PM Fabulous, central Maplewood location comprised of .5 acres (26,000 s.f.) of land and a lovingly maintained 1938 character home. Features 3 bed, 3bath, 2200 s.f. on two levels + basement. G
Open House. Open House on Sunday, July 25, 2021 2:00PM - 4:00PM Fabulous, central Maplewood location comprised of .5 acres (26,000 s.f.) of land and a lovingly maintained 1938 character home. Features 3 bed, 3bath, 2200 s.f. on two levels + basement. Gre
Open House. Open House on Saturday, July 17, 2021 1:00PM - 3:00PM Fabulous, central Maplewood location comprised of .5 acres (26,000 s.f.) of land and a lovingly maintained 1938 character home. Features 3 bed, 3bath, 2200 s.f. on two levels + basement. G
Open House. Open House on Sunday, July 18, 2021 1:00PM - 3:00PM Fabulous, central Maplewood location comprised of .5 acres (26,000 s.f.) of land and a lovingly maintained 1938 character home. Features 3 bed, 3bath, 2200 s.f. on two levels + basement. Gre
New Year, New Home? Set Homeownership Goals Whether You’re Buying, Selling, or Staying Put
The start of a new year always compels people to take a fresh look at their goals, from health and career to relationships and finance. But with historically low mortgage rates, increased home sales and price growth, and a tight housing inventory, the time is right to also make some homeownership resolutions for 2021.
Home buyers, is this the year you work to improve your credit score, pay down some debt, or save for a down payment?
Home sellers, we’ve laid out plans for you to get top dollar for your property, including timing your home sale, making your property stand out from the crowd, and investing in your extra living space.
And even if you’re staying put for awhile, homeowners, you can resolve to improve your status quo by evaluating your home budget, finalizing your home maintenance schedule, or maybe investing in a second property.
So no matter your homeownership status, we’ve got some ideas and advice for you to make this year your best one yet. Read on to learn more.
Resolution #1: Qualify for a better mortgage with a higher credit score.
Your credit report highlights your current debt, bill-paying history, and other key financial information. Importantly for your home-buying journey, it is also used by lenders and companies to calculate your credit score, which partly determines if you are qualified to obtain a mortgage. Therefore, before you start house-hunting, make sure your finances are in the best possible shape by checking your credit report and credit score, available directly from Equifax and TransUnion.1
Your credit score will be a number ranging from 300-900. Generally speaking, a credit score of 725 or higher is considered very good to excellent.2 If your score drops below 725, you might need to work at boosting your score for a few months before you begin house-hunting. Ways to do this are to pay your bills on time every month, keep your credit card balances low, and avoid applying for new credit.3
Resolution #2: Improve your credit health by paying down debt.
Do you have student loans, credit card debt, or car payments tying up your income each month? That debt is hurting your “buying power,” or the amount of home you can afford. Not only is it money that you can't spend on your new home, but your debt-to-income ratio also affects your credit score, which we discussed above. The less debt you have, the higher your score and the better mortgage you can obtain.
If you can, pay off some debt in its entirety—like a low balance on a credit card. Then apply that "extra" money you previously paid on that credit card to pay off bigger debt, like a car loan. Even if you can’t pay off all (or any) of your debt in full, reducing the balances of each account will help you qualify for the best possible mortgage terms.
Resolution #3: Create a financial safety net before applying for a mortgage.
Don’t forget that buying a home requires some cash as well. The down payment depends on the home’s price, but the minimum is 5% for a purchase price of under $500,000, and closing costs range from 2-3%.4,5 You’ll also need money for moving expenses and any initial maintenance tasks that might pop up. And as the pandemic taught us, you never know when an unforeseen event might cause a job loss, drop in income, or health scare, so having some liquid savings will ensure that you can still pay your mortgage if a crisis occurs.
Dedicate some effort to building up your reserves. Cut down on unnecessary expenses, and consider having a portion of each paycheck automatically deposited into your savings account to avoid the temptation to spend it.
Resolution #4: Decide on the right time to sell your home.
In a typical year, spring is when home sales spike in Canada. This might be the best time to take advantage of the price increase predicted by the Canadian Real Estate Association, which says, “The national average price is forecast to rise by 9.1% in 2021 to $620,400.”6
But sales price isn’t the only thing to consider. You might not be ready to sell your home yet because you don't want to uproot your kids during the school year or because you need to tackle some minor upgrades before placing your home on the market.
This means that there is no one month or season that is the perfect time to sell your home. Instead, the right timeline for you takes into account factors such as when you’ll earn the highest profit, personal convenience, and whether your home is even ready to put on the market. A trusted real estate professional can talk you through your specific needs to clarify when to sell your home.
Resolution #5: Boost your home’s resale value by making your property shine.
Housing inventory is at historic lows across the country, and that means the market is fiercely competitive.7 Selling your home in 2021 has the potential to net you a huge return right now, and you can maximize that amount with some simple fixes to make sure your property outshines your neighbors’ for sale down the street.
In your home, you might need to tackle a minor remodeling project, such as upgrading the flooring or adding a fresh coat of paint. According to one remodeling impact report, simply refinishing existing hardwood floors recoups 100% of the cost at resale, and completely replacing it with new wood flooring recovers 106% of costs.8
Outside, you might consider improving your curb appeal by removing a dead bush, trimming a tree that blocks the front window, or power-washing your moldy driveway and sidewalks. In fact, real estate agents say cleaning the exterior of your house can add $10,000 to $15,000 to a home’s sale price.9 And improving a home’s landscaping may increase its value by 15 to 25%.10
A good agent should provide custom-tailored suggestions to ensure your property pops inside and out. Ask us about our local insider secrets that will make your home stand out from others on the market.
Resolution #6: Invest in your “extra” living space to meet current buyers’ needs.
Due to COVID-19, more people are staying at home to work, go to school, exercise, and stay entertained. And these lifestyle changes are showing up in home buyer preferences. For example, according to one study, buyers are looking more and more for homes with formal, outfitted home offices, private outdoor spaces, and updated kitchen appliances.11
So if you’ve got an underutilized room, consider turning it into an office, home gym, schoolroom, or multi-purpose room to meet current home buyer needs and attract better offers on your home. Got some underwhelming space outside? You could turn it into an outdoor entertainment area by adding a firepit, upgrading the patio furniture, or installing a grilling area. Be sure to consult with a local real estate professional before investing in a renovation, however, as each market’s buyers have different tastes.
Resolution #7: Evaluate your household budget to reflect financial changes.
After this past year, in particular, your financial picture may have changed. Maybe you were furloughed, had your hours reduced, or got a new job further from home. Perhaps you’ve kept the same job, but you’re now working remotely. A work-from-home arrangement could mean less money spent on gas, tolls, a professional wardrobe, and dining out for lunch.
But this could also mean new (or increased) expenses now that you’re working at home, such as new tech-related purchases, faster Wi-Fi, and higher energy bills. January marks the perfect opportunity to update your income and expenses and review last year’s spending habits, tweaking as needed for 2021.
For more specific ideas, contact us for our free report "20 Ways to Save Money and Stretch Your Household Budget."
Resolution #8: Save money now (and earn more later) with a home maintenance plan.
Having a schedule of regular home maintenance projects to tackle will save you money now and in the long-term. You’ll avoid some surprise “emergency fixes,” and when you’re ready to eventually sell your home, you’ll get higher offers from buyers who aren’t put off by overdue repairs.
Even if nothing necessarily needs fixing right now, you can lower your energy costs by maintaining and upgrading your home. For example, consider upgrading some features to ENERGY STAR high-efficiency products. You could save 10% in energy costs if you switch out your gas broiler, and up to 45% if you change your windows!12,13
For a breakdown of home maintenance projects to tackle throughout the year, contact us for our free report “House Care Calendar: A Seasonal Guide to Maintaining Your Home.”
Resolution #9: Invest in real estate for a better standard of living.
Even if you don’t plan on leaving your current residence, real estate is a great way to improve your quality of life in 2021.
Have cabin fever from the long quarantine? A vacation home in a getaway location you love lets you safely spread your wings. And if you have been looking for a second stream of income, an investment property might be your answer. Just be sure to consult with a real estate professional to get a realistic sense of a property’s true income potential.
Want more information on how a second property fits into your 2021 plans? Request our free report, "Move Up vs Second Home: Which One Is Right For You?"
LET US HELP YOU WITH YOUR 2021 GOALS
Without a plan and a support system, 73% of Canadians will break their new year’s resolutions.14 Whether you’re looking to buy, sell, or stay put in your home, it helps to connect with a trusted real estate agent to keep you motivated and on track.
As local market experts, we have the knowledge, experience, and networks to help you achieve your homeownership goals, whatever they may be. Reach out to us today for a free consultation and commit to a happy and prosperous new year.
- Government of Canada -
- Equifax -
- Government of Canada -
- RateShop -
- Bank of Montreal -
- Canadian Real Estate Association -
- Canadian Mortgage Trends -
- National Association of Realtors -
- House Logic -
- Ottawa Citizen -
- HomeLight -
- Government of Canada -
- Government of Canada -
- Ipsos -
10 Ways to Give Back to Our Local Community This Holiday Season
This year has demonstrated, perhaps more than ever, the importance of our family, friends, neighbours, and community. It truly “takes a village” to keep a community functioning effectively, whether that’s by keeping our waterways clean, feeding the hungry, teaching our kids, or supporting small businesses.
With the holidays right around the corner, December offers the perfect opportunity to give back to the place we call home. You might want to focus your efforts near home, expand to our larger community, or even help support the people closest to you. Whether you’re passionate about a particular cause or just want to get more involved in general, let these 10 ways, both big and small, inspire you to do good in your town.
GIVE BACK NEAR HOME
1. Attract local wildlife. By making your neighbourhood more wildlife friendly, you’re helping to create a balanced and healthy ecosystem. Plus, many of the animals you can attract help with pest control and pollination.1
- Add a birdbath to your backyard or create a rain garden to attract wildlife (and filter out local pollutants).
- Place bird feeders on your property to feed birds all year long.
- Tie corncobs to tree branches to feed squirrels.
- Hang birdhouses on your property to provide shelter.
- Use native plants in your landscaping to provide food and shelter for birds, bees, butterflies, and other critters.
Take action: While you might not be able to “break ground” until spring, start researching native plants now to design a landscaping plan that provides food, shelter, and water for local wildlife.
2. Clean up our community. Besides beautifying the area, picking up trash keeps it out of our local waterways, which means a cleaner water supply for all of us.
- Whether you make this a solo effort or join in an organized group event, pick up trash in your neighbourhood, at a local park, or elsewhere in our community.
- Depending on your community’s regulations, you can recycle many home items such as paper, glass, and aluminum.
- And don’t forget to clean the exterior of your home, where water runoff (such as on your driveway and sidewalks) can carry debris into the local sewer system.2
Take action: Check with your local municipality to learn about environmental clean-up efforts in our community, as well as recycling and composting.
3. Organize or join a neighbourhood watch. According to a recent report, neighbourhoods with Neighbourhood Crime Watch programs experience roughly 16 percent less crime.3 Keeping an eye out for each other instills a sense of safety and security in your neighbourhood by increasing surveillance, reducing opportunities, and enhancing information sharing among residents. Even if your neighbourhood doesn’t have an official program, you can still share crime information via a neighbourhood Facebook group or apps like NextDoor.
- Make a point of looking out for each other and being observant of what’s going on.
- You can even make it official by joining a neighbourhood watch program.
- Don’t have one? Consider launching a neighbourhood watch program with the help of other interested neighbors.
Take action: Some police forces use online mapping tools that provide crime alerts to people in neighbourhoods where recent criminal activity occurred.3 Share this information with your neighbours.
HELP OUT LOCAL ORGANIZATIONS
4. Boost your civic engagement. Regardless of your politics, you can get more involved as a citizen to make a positive difference in our community.
- Sign a petition to make a needed change in our community.
- Join a peaceful march, protest, or rally to support a cause dear to your heart.
- Attend local school board meetings, town halls, or city council meetings to understand (and have a voice in) local issues.4
- Watch (and read) a variety of local news sources to get balanced reporting on what’s happening in our community.
- If you don’t know your neighbours very well, introduce yourself.
- Then make a commitment to check in on those who might need help, such as an elderly neighbour.
- Get plugged in to the resources and events in our town by visiting local museums, taking historical tours, borrowing materials from our local library, and attending community festivals.
Take action: Do you know who our local leaders are, such as our mayor or city councilwoman? Get to know their names, their policies, and their stand on issues that affect our community. Subscribe to their newsletter and follow them on social media.
5. Support local businesses. Our community has been impacted by the pandemic, with many businesses being forced to limit capacity, instill social distancing efforts, and even shutter entirely in some cases. Help keep money in our local economy by shopping locally instead of relying on online shopping from national chains.
- From handcrafted soaps and one-of-a-kind apparel to locally produced chocolate and small-batch wines, you’ll find plenty of unique gifts at the small businesses that dot our community.
- Consider purchasing tickets to attend live-streamed holiday concerts and shows.
- Buy cookies and other baked goods from our local bakery.
- Get takeout from our local restaurants.
- Support local farmers by purchasing fresh fruits and vegetables at community farmer’s markets.
Take action: If you’re concerned about shopping in person right now, many of these businesses, though small, offer online shopping, with options for in-store pick-up, curbside delivery, and/or mail options.
6. Donate to local charities. Nonprofits could always use your financial support, so consider making a monetary donation to help them carry out their mission in our community. But if money is tight (or you want to support in other ways), think beyond just donating dollars.
- Consider donating to a charity in someone else’s name as an altruistic gift on behalf of a friend or relative.
- Give blood to our local blood bank.
- Donate new or used books to our community library.
- Send school supplies to our neighbourhood elementary school.
- Help struggling neighbours by donating blankets to the homeless.
- Pick out toys to give to a charity that caters to families. 5
Take action: Many collection efforts run by charitable organizations and businesses take place during the holidays. Look to see what’s already taking place in our community and choose one or more to give to this season.
CARE FOR YOUR NEIGHBOURS
7. Organize a holiday food drive. This year, in particular, people are struggling to pay their bills and put food on the table. The pandemic has caused many businesses to close or reduce their staff size, putting many people out of work.
- If you personally know someone who needs help buying groceries, reach out and offer to help that one family.
- If not, partner with a local food bank, soup kitchen, nonprofit or community organization that feeds people in need.
- Round up a few friends, family, co-workers, or neighbors to collect food for a few weeks. Then deliver the bounty in time for the holidays.
Take action: Take advantage of your grocery store coupons and buy-one-get-one offers to inexpensively stock up on nonperishable goods.
8. Adopt a family or an individual. The holidays can be a struggle, especially financially, for some families. They might not be able to buy a Christmas tree or presents for their children. Maybe their holiday meal consists of boxed macaroni and cheese because they can’t afford a turkey and fresh vegetables. You can make a difference by “adopting” a particular family (or even just a child) to help make their holiday special.
- If you know a needy family, help them directly.
- If not, ask a community group for the name of a family or individual in need.
- Some businesses even sponsor toy drives or “angel trees” where you can pick the name of a needy family off the tree and buy from their wish lists.
Take action: This works great as a family project. Get the kids in your life involved to help make holiday cards and pick out toys to give to the children in the adopted family.
9. Volunteer. Depending on your schedule and your preferences, you might be able to volunteer in-person or from home, whether it’s a one-time effort or an ongoing project. It’s a great way to meet like-minded people in your community as you make a positive impact together for a shared cause.
- Give your time to a cause or organization that really matters to you, such as your local school, animal rescue organization, mental health awareness group, or environmental nonprofit.6
- Tap into a skill you already have, like creating videos, and offer your services.
- Or learn a new skill (like fundraising) to benefit your cause of choice.
Take action: Start with your local community to see where its needs are the greatest. Make a point to help this holiday season, perhaps extending your commitment throughout 2021.
10. Perform random acts of kindness. Don’t think you need to “go big or go home” in your give-back efforts. You can make a big difference one small act at a time.
- Give a generous tip to a waitress.
- Pay for the coffee of the car behind you in the drive-through.
- Take care of a neighbor’s pet while they’re out of town.
- Send holiday cards to deployed military personnel.
- Deliver a plate of homemade holiday cookies to our local fire and police stations.
- Smile at a stranger.
- Rake leaves for an elderly neighbour.
- Thank your child’s teacher for all their hard work this year.
- Send an uplifting text to a friend.
- Compliment someone.
- Help a coworker with an unpleasant task.
Take action: Need more ideas? Visit randomactsofkindness.org for hundreds of inspiring ways to make someone’s day a little brighter.
HOW WE CAN HELP YOU?
As real estate experts in our local community, we’re tuned into the unique needs of the place we all call home. Reach out to us today to discuss more ways to make a positive impact in our community—this holiday season and beyond. And we want to make sure you’re taken care of, too. If you’re thinking about buying or selling a home now or in the near future, let us help you!
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