02.8.24 | For Sellers

3 Ways to Stand Out in the Spring Market

Spring – the flowers are blooming, the birds are chirping, and the “For Sale” signs are sprouting up on lawns all around you. This can be one of the best times to list your home, which also makes it one of the most competitive times.

So, how can sellers stand out in a busy spring market?

Clean up Outside

Pressure washing your driveway, sweeping your front walkway and picking up winter debris such as twigs and branches are incredibly important steps to take to make your property look its best once the snow has cleared.

It’s important to wash windows and frames on the outside of your house and touch up exterior doors and trim with paint if necessary. Roof gutters and siding should also be cleaned and maintained.

Any extra cars should be parked away from the property, and spring toys and bikes shouldn’t be left outside.

Steps can also be taken to improve landscaping. Adding flowering plants and shrubs will add colour to your home. Be sure to tidy flower beds and maintain your lawn. If you have a pet, be sure to clean up any droppings on a regular basis.

A well-manicured curb appeal can make the difference when everything is in full swing. Don’t overdo it with the flowers and plants, as there are also people thinking about high maintenance yards when buying a home, which could end up being a turn off, even when it looks pretty.

Freshen up Inside

The inside of your home should be tidy with no clutter. Light fixtures, appliances and windows should be cleaned. Be sure to move large appliances and clean in and around where they usually sit.

If you have a garage, make sure you keep the floor swept. Make sure doors and windows throughout the house aren’t squeaking.

You might want to consider purchasing a new welcome mat at the front door, adding new bedding and purchasing candles that have a nice smell that’s not overwhelming. A fresh bouquet on your kitchen table or counter is a great way to keep the space smelling and looking great.

Once your house is clean, get professional photos taken to make each room look its best. Good photography can go a long way in helping a home stand out from the others.

Be Sure the Price is Right

The spring market is an incredibly popular time of year for sellers to list their homes. If you have priced your home too high, buyers will likely opt to look at similar, more reasonably priced homes. The Barnett Real Estate Team will take in many factors to help you list your home at a price that is competitive with other listings, yet a fair deal for you.

Also consider putting the home on the market a bit earlier than the regular spring crowd. This will limit the amount of competition and get the eyes of serious buyers on your property first.

11.30.22 | For Sellers

Tips to Enhance Your Curb Appeal This Winter

The grey and lifeless winter landscape can leave your home’s curb appeal… lacking. If you’re selling your home and are hoping to channel your inner Norman Rockwell in a cozy, welcoming scene, take it from the experts: it is a lot simpler than you think! Homeowners who want to give their front yard a facelift or prepare their home to sell during the winter season should be aware that it does not require too much of an investment. From a fresh coat of paint to a modest bird feeder, it is the little things that count, and can add the most charm to your home’s exterior. We have compiled a list of tips from real estate experts on how you can enhance your curb appeal this winter.

6 Tips to Enhance Your Curb Appeal This Winter

Give Your Numbers an Update

How old are the numbers on your house? Better yet, can delivery drivers even see them as they try to drop off your pizza (or the signature brown boxes holding the evidence of your 2020 online shopping addiction)? Whatever state the numbers on your front porch may be, consider investing in some new numbers for an easy, affordable and striking outdoor refresh.

Investing in a new mailbox can also instantly upgrade your exterior aesthetic. So, scrap that rusty eyesore and trade it for a sleek, metal letter box that can usually be affixed to the wall with a couple of screws.

These simple updates can do wonders for your curb appeal during the winter months.

Apply a Fresh Coat of Paint to Your Door

Oftentimes, the best way to spruce up any part of your humble abode is with a fresh coat of paint.

Your door is usually the first thing that appeals to somebody’s eye. Many homeowners might choose to fully replace their old door with a new one that has a lovely glass insert. But if you are on a tight budget, all you need is some paint and a colour that suits your home.

As an added tip, bold primary colours can look extremely striking set upon a white winter backdrop. But take note, you may want to proactively paint before the cold winter weather hits or during a window of unseasonably warm temperatures, as most paints need at least three days of 12-degree weather to properly cure.

Install a Bird Feeder

What better way to liven up your front yard than by hanging a well-placed and colourful bird feeder to attract some feathered friends? Winter provides us with plenty of gray days, so placing a bird feeder can show some colourful signs of life like blue jays and cardinals.

Add Functional Lighting

Exterior lighting offers a myriad of benefits. The first thing homeowners will point out is the safety aspect of light installations, providing added visibility during the shorter and darker days of winter. Opt for downward soffit lighting to create a warm glow that makes your property look inviting and cozy.

Clear the Snow and Clutter

The snow certainly looks nice after a fresh snowfall, but the longer winter continues without proper up-keep, the more unkempt your home will appear. While it is perfectly alright to let the snow accumulate on your lawn, aim to shovel the front walkway and the driveway to keep paths clear and safe. Remember, if you are hosting an open house, you want your home to be accessible and safe for prospective buyers.

Plant Some Seasonal Greens

Like a colourful bird feeder, cold-weather plants can liven up your front entrance. Unsure what to plant? Here are a few recommendations from our wintery green thumbs:

  • Evergreen trees and shrubs for all year long.
  • Winter berries, which will attract hungry birds.
  • Winter-flowering shrubs, such as jasmine and daphne.
  • Early spring bulbs that will flower in late winter or early spring.

Winter Brings New Decorative Opportunities?

Many homeowners typically think about what they can do to add seasonal holiday touches to the interior of their home, but tend to neglect outdoor winter décor, which can create a bold, inviting statement to elevate your curb appeal. Whether a wreath or planter made of cold-hardy perennials, or a faux fur blanket draped over your porch-side Muskoka chair, there are so many ways to bring the beauty of the season to your home’s exterior!

Have more questions about the home-staging process, or are you ready to move forward with your sale? Contact us today!

08.22.22 | Milton

Why You Need An Experienced Real Estate Team More Than Ever

Navigating the real estate market can be a challenge at the best of times. Moving is complicated and buying or selling a property involves a myriad of negotiations, paperwork and legal contracts. When the market shifts, things can get even more challenging. These two sentences sum up the current market perfectly:

  1. Sellers are nervous about the value of their home and how long it will take to sell. 
  2. Buyers can get cold feet, and many are holding off to see what happens next. 

If you’re thinking of buying or selling a home in Milton, a local real estate expert is more important than ever. The last two years have been hectic, to say the least. For a while, new agents felt like they could do no wrong. Every listing had multiple buyers lined up as far as the eye could see. They could almost always be sure of a fast and easy sale, usually far above the asking price, as bidding wars and low supply pushed up the cost of housing. Now everything is changing, and we are no longer in a seller’s market. Inexperienced agents have never had to work through different conditions, and many don’t know how to deal with it.

For the best results, you need someone who has developed negotiation skills and the finely-tuned instinct that comes from working in every type of market imaginable.

How An Experienced Agent Helps Sellers

Many homeowners are struggling right now. The new reality is confusing. It can be discouraging, especially on the heels of such a fast-paced market that we saw earlier in the year. New real estate agents are also struggling to price and market homes strategically to attract the attention of potential buyers.

The initial listing price is critical. This factor, more than anything, can often mean the difference between the house sitting on the market or selling quickly. How do you know the perfect range where buyers are intrigued, but you still earn the maximum value for your home? An appraisal is an excellent place to start. It will take into account any recent updates you’ve performed on the house, as well as the square footage, lot size, number of bedrooms and bathrooms.

However, an experienced agent will go much further. They will dig deep into the micro-market of your neighbourhood, finding out how many houses have sold in the past few months and for how much.


Want more information about how to enjoy a successful sale? These tips should help:


It’s important to have realistic expectations when setting your listing price. You may not earn as much by selling now, but you’re still in an excellent position. Finding your new home after you sell has become less competitive. Plus, any equity you have built up over the years can now be applied to your new property, which will also cost less.

The Importance Of Effective Marketing

A targeted and comprehensive promotion strategy becomes even more critical when the market shifts. It didn’t matter as much when the market was on fire. Back then, a simple listing on the MLS was often all it took for buyers to find your home. 

Now that there are more options to choose from, you need to work harder to get your listing out there. Your real estate agent should be well-versed in social media advertising, print marketing, and online promotions. However, a network of other agents might be the most valuable resource of all, especially with fewer people in the market. A network provides access to a hidden pool of potential buyers but is something an agent only has after years of experience in the area.

Why Buyers Need A Local Real Estate Expert  

On the one hand, the market is more favourable to buyers than it has been in a long time. Prices have decreased, and more “For Sale” signs are popping up every day. You no longer have to get caught up in emotional bidding wars. You can just move on to the next listing. More homes available means you never have to settle for something unsuitable just to break into the market.

We’ve reached a balanced market, a condition we haven’t seen in quite some time. That’s the good news.

The challenge now is that higher interest rates can offset any savings you might enjoy as the market settles. Depending on where rates land, you might end up paying more over time even though the house costs less. A mortgage broker can help you find the best rate possible. If you know you’re going to buy in the next few months, getting pre-approved and a rate hold now will protect you from any further rate hikes.


Why buy a house in Milton? It’s a great place to live with many fun activities to enjoy with your family. Like these:


A local real estate agent is essential to prevent you from overpaying for your next house. Many homeowners are still trying to command the high prices from the market peak back in February, and it can be hard to know which ones are listed at a fair value. Your agent will help you sort through all of the listings and negotiate for a suitable home at the right price. 

Do you want to make your next decision based on facts and logic so you get the best possible terms? The Barnett Real Estate Team has served the Milton area for over 30 years, and we are happy to guide you through the current market. Reach out to us today to chat about your goals.

 

02.14.22 | Homeowners

Buying First Vs Selling First in Today’s Market

If you are thinking of upgrading your home in the near future, you undoubtedly have many questions on your mind. Some are easier to answer than others. 

Want to know how much your current home is worth?  That’s as easy as doing a quick assessment.

The most pressing question that we get asked a lot is “What should I do first?” Is it better to sell your home before you look to purchase a new one? Or should you look now and buy while still in your current house?  Depending on your financial situation, and the current real estate market, there is a strong case for both.

The Pros and Cons of Buying First

The significant advantage here is equity. The longer you keep your current home, the more equity you build. And with the market going up, your home naturally increases in value over time.

You can use this equity to finance your new purchase. Now, you’re building wealth on two properties. Buying first is ideal in many situations, but it’s not the right choice for everyone. 

Who should buy first?

Buying first is an excellent option if both of these scenarios apply:

  1. Your finances allow you to hold two properties comfortably. (Interesting fact: this is the exact strategy some investors use to build their long-term wealth!) 
  2. You don’t need to move urgently and have time to decide and plan. If you buy first, there is no rush to leave your current house. You can take your time packing and moving, which eliminates most of the stress from the process. Buying first also gives you all the time you need to find the perfect home, and you won’t need to settle for anything less.

The disadvantage is it can be a heavy burden to carry two mortgages. And unless your financial situation is very secure, buying first can be risky. If you cannot make both mortgage payments, you could lose one or both properties.

The best way to minimize this risk is to thoroughly analyze your finances to know if you can afford two payments, and for how long.

It’s also wise to have all the minor repairs and staging done on your current home, so it’s ready to sell on short notice if you ever feel overwhelmed. 


Want to know more about what it means to sell your home this year? Here are some more resources to guide you:


The Pros and Cons of Selling First

The advantages of selling first are clear. You have the cash in hand for a down payment on your new home. With this guaranteed financing, you can place strong offers and compete with other buyers. Selling first takes all of the guesswork out of the equation. You will know precisely what price range you can afford.

The disadvantage is how quickly the market can move after you sell. Prices are still on the rise. If you sell too early, you may find it challenging to re-enter the market.

Selling first may also put you in a time crunch. Closing dates are firm and don’t give you much time to find and purchase a new home.

Again, these risks can be reduced by having a plan in place.

You can research what’s available in different areas. For example, a home in Burlington right on the Lakeshore may be out of your price range. But if you’re flexible about your location, you’ll find more affordable options.

With a plan in place, you’ll be in a solid position to move quickly with your sale and subsequent new purchase.

Who should sell first?

You should always sell first if you have any concerns over your finances or you know you can’t bear the cost of two mortgages.

  1. Selling first is ideal when you need to move quickly. If relocating for a new career, you probably won’t want the workload of owning two properties even for a short time.
  2. You’re not comfortable with the risk associated with buying. Even if your finances allow you to carry two mortgages, it doesn’t mean you should. Deciding whether or not to take that risk is a highly personal choice, and not one to take lightly. 

What does buying a home look like in 2022? Check out some of our other informative articles below:


Whether you decide to sell or buy first, you need a strategy and expert guidance. A professional real estate agent who is familiar with the area is a resource you don’t want to be without. If you have any questions about buying or selling, we can help!

 

What You Need to Know About Selling a Home in 2022

01.5.22 | For Sellers

What You Need to Know About Selling a Home in 2022

It’s happening: 2021 is drawing to a close. The ongoing pandemic has led to plenty of ups and downs this year, and the real estate market has been no exception. Low inventory and high (in fact, record-breaking) home prices have meant that many sellers achieved incredibly successful results—but what will the year ahead bring?

If you’re planning to sell in 2022 and you’re wondering what will come next, you’re not alone. We can’t predict the future of real estate, but given our decades of local experience, we can certainly provide some context and make a few educated guesses.

Here’s what you should know if you’re putting your home on the market in 2022…

You’re in a good position, no matter the home you have

There’s no denying that the local real estate market has been a hot commodity of late, and detached homes have been the most in-demand housing type. We’re seeing many buyers who are seeking more space during the pandemic, purchasing houses with some outdoor square footage. That said, we’re seeing a flurry of activity across housing types.

For one thing, limited inventory means many buyers need to be more flexible. That means they’re purchasing properties that don’t necessarily fit their ideal criteria and those that may not be in perfect shape. In addition, many buyers are looking to the future, thinking about what will constitute a good investment in the years ahead. 

For example, while bungalows have always made fantastic family homes, we’re seeing a resurgence of interest in this particular property type. Often, they afford buyers the opportunity to rent out their basements as separate apartments (an increasingly popular way to make some extra income). In some cases, they also contain the extra space required for the much-coveted home office.

Not only are some buyers more inclined to think about a range of property types, but they may also be more willing to consider various locations. In some cases, former city dwellers are moving away from urban centres in light of the pandemic. This has boded well for sellers in suburban and primarily residential communities—and likely will for the foreseeable future.   

All of that said, consider the fact that interest rates are set to rise by Q3 of 2020. When that happens, affordability will go down for many home buyers. That may or may not have an impact on how you should price your home (depending on who your most likely buyer is). A real estate professional who knows the local market can help you understand all the nuances involved. 


Wondering whether selling with our team is right for you? Learn more about what it’s like to work with us.


Buyer competition will likely remain strong

As a seller, you’re in a good position right now, as the market is very competitive. The most recently-released statistics for Oakville-Milton reveal that in November, the number of new listings added for that month were the lowest they’ve been in over a decade. At the same time, sales rose by nearly 5 per cent year over year.

Low inventory has meant more buyers competing for properties that are on the market, and we believe we’ll see more of this in the new year. If that happens, it’s going to mean more multiple offers scenarios, quicker sales, and more transactions where the sellers receive offers over asking. 

It’s worth noting that we may see a rise in the number of sellers looking to take advantage of these conditions. Even if low inventory persists to the extent that it currently exists, many of the sellers who do make a move will likely take steps to ensure their property looks its best—and you should too. It could mean the difference between selling your home and selling it for more than you ever could have predicted.

Expert advice will help you make the most of the situation

When it comes to the best time to sell, is the spring still considered ideal? Should your home be staged—or is it unnecessary when the market is this hot? Does it make sense to price your home below market value right now to generate multiple offers?

Sellers always have questions about how to get the best possible price and conditions. That’s especially true right now when many of the so-called “rules” of the market have gone out the window (at least for the moment). The good news is, with conditions so strongly in your favour, it’s a matter of making the best of a good situation.

If you’re preparing to take this life-changing step, your best bet is to find a real estate agent who will help you price, prepare, and market your property for the best possible price. It’s all about building a strategy based on long-term local expertise, which is why it’s so important to find a professional who can provide it. 


Interested in learning more about selling with us? Here are some of our latest selling posts:


The bottom line

If you’re preparing to sell in 2022, you’re well-positioned to achieve fantastic results. That said, there’s a lot of uncertainty right now, including in the real estate market. Now is the time to do your research and find a skilled agent who can act as your guide. Remember that even in a market that favours you, strategy is a must!

Milton Safe Home Showings Precautions

09.17.21 | Milton

Your Guide To Home Showings In Milton

During the restrictive lockdowns of 2020, most Realtors® across the GTA and Ontario recognized that they needed to pivot their business to help cater to an increasingly online demographic. Although real estate is considered an essential service and home showings were permitted during the lockdown, many agents decided to take a more digital approach to showcase properties. This meant investing more in high-end photography, video, and virtual tours.

As COVID cases in Ontario decline, many buyers and sellers are feeling more comfortable with the idea of entering a stranger’s home for a showing or an open house. In fact, the province also recently announced that open houses are now permissible under new guidelines, although, our team still prefers to avoid them for now. However, things are not completely back to normal in our area. There are many things we need to do to ensure our clients are safe, comfortable, and confident during showings.

Here are a few of the things we’re doing to make sure your next in-person home showing in Milton is a smooth, enjoyable experience — whether you’re a buyer or a seller.

At the Barnett Real Estate Team, we’ve been following the latest COVID-19 safety protocols since the start of the pandemic. To learn more, read about What We Are Doing To Keep Our Clients Safe here.

We Typically Start Online

For our buyer clients, we suggest starting off your home showing process virtually. We call this stage our Market Education stage, and it takes place after our initial consultation. Once we’ve established a solid understanding of the types of properties you’re interested in, we present the listings we believe you’ll feel excited about via our virtual Market Education stage.

Here, we’ll detail all of the important features of each listing we’ve identified for you during an in-depth digital presentation and discussion. We’ll sort out what you like about the properties, what you dislike about the properties, and further inform you about the current state of the listings market to help you gain a better understanding of what you’re most likely to find available.

Once we’ve found a listing of interest that you want to view in more detail, we’ll book an in-person showing with the selling party. This way, we not only save on time by not having to physically visit each listing, but things are also much safer for everyone involved.

If you’re thinking about buying a home, you deserve to feel confident that your Realtor® is always looking out for your best interests. Learn more about How We Help Buyers here.

Showing Time Slots

No matter if you’re a buyer viewing a home in person or a seller navigating through the home showings process, every in-person home showing must follow a pre-established time slot guideline.

While this is no new invention in the world of real estate, gone are the days of mass open houses (for our team, anyway) and loosely scheduled showing periods. Today, we need to respect rigid rules need for the benefit of everyone’s health and safety.

The new guidelines are simple — there can only be one showing at a time with solely the potential buyers and their real estate representative present. Additionally, the showings must respect a 30-minute time block, with no overlap between showings.

Are you planning on selling your home for the first time? You’ve probably got a lot of questions. Read through Our Top 7 First Time Seller FAQs here, or Contact Us here to ask us anything more specific.

How to Prepare for a Showing for Sellers

When acting as listing agents, our team also insists on conducting a stringent set of COVID safety measures during each in-person home showing. No matter who they are, each person who enters a listing we’re showcasing must follow our precautionary measures.

For starters, face masks are mandatory for anyone on the premises. Additionally, we also place hand sanitizer dispensers at the primary entryway of the home and in other high-traffic areas as well.

Should there be any specific items or areas within a home the seller doesn’t want visiting potential buyers to touch, we place clear “No Touching” signs near or on them.


Selling a home is no easy task, even if it isn’t your first time around. To see how we help make the entire home selling process easier for our clients, learn more about how we help sellers from the link below or via our Seller’s Guide.


Your Home Away From Home

In order to mitigate the number of people present during a home showing, we always require our selling clients to leave their homes while potential buyers are viewing the property in person. Sometimes it’s just for a few hours, or occasionally it can be for the better part of a day or two.

However, in some instances, when our selling clients have an extensive amount of home showings scheduled over the course of a short period of time we’ll extend our services to find more comfortable accommodations for them that better suit the time period which they’ll be away from home for.

For example, should a selling client need to vacate their homes for a weekend, we would explore the option of putting them up in a hotel room nearby for the duration of their showings. We find this not only alleviates stress levels for our sellers but also allows us to not have to worry as much about timing issues from visiting buyers.

From a health and safety standpoint, knowing our selling clients are far away from any potential exposure to COVID during their home showings also offers us a lot of peace of mind. And from our client’s perspective, they’re able to enjoy the convenience of staying in one stable location during the showing process, which is especially meaningful to them if they have kids, pets, or work from home.

At the end of the day, it’s our goal to ensure all of our clients feel as safe, satisfied, and happy when working with us a possible.

Whether you want to buy or sell a home, the job of a professional Realtor ® is to make your entire experience as easy and enjoyable as possible. Learn more about Why You Should Work With a Realtor® here.

5 Tips For Making Your Home Stand Out in the Spring Market

04.29.21 | For Sellers

5 Tips For Making Your Home Stand Out in the Spring Market

Spring is a great time to put a home on the market. Buyers are out in full force, and the average sale price tends to be higher—while the time it takes to sell is often shorter. Fortunately, there are steps you can take to make the most of these springtime conditions. It starts with preparations that make your property stand out in the crowd.

Here are five tips for making your home shine in the spring real estate market…

1) Bust the clutter

From rarely-used furniture to old clothing and magazines, clutter has a way of building up. Unfortunately, these items can make your home feel smaller—and prevent buyers from seeing its many possibilities. The good news is, by thoroughly decluttering, you can create the right canvas for staging.

First, start looking into local donation centres. Then, go through your belongings room by room, deciding what you’ll keep, donate, and toss out. You can rent a storage locker if need be, or use this as an opportunity to rid yourself of possessions you don’t use! (Here are some tips on decluttering to sell)


The market has changed! Here are some updates you might want to know about:


2) Clean every inch

Once your home is clutter-free, it’s time to make it sparkle—top to bottom. The truth is, buyers often look at every inch of a property before they seriously consider buying it. From the inside of your cabinets to the grout between your bathroom tiles, there’s a good chance it will all be scrutinized.

While you may choose to break out the broom, vacuum, and bleach, it’s best to also enlist help from the pros. The right full-service real estate team can connect you with reliable, professional cleaners.

3) Think about the outside

Your home’s exterior is the first thing a buyer will see before they step inside for a viewing. It can make a strong impression, so it makes sense to ensure it’s a positive one. That’s where curb appeal comes in.

From making sure your lawn is green and trimmed to touching up any chipped or faded trim, maximizing the appeal of the outside of your property is crucial. Remember that the little details also count, from fresh flowers to sleek porch light fixtures.

4) Freshen things up with paint

Once they step inside, one of the first things a buyer will likely notice is your walls. They form the backdrop of a room, and they look best when they’re freshly painted. This is especially true in spring, when the sunlight reflects off of interior surfaces.

Make sure you choose a high-quality formula—and the right colour. Warm neutrals tend to work best since they appeal to the largest pool of potential buyers. Studies show that the ideal hue can lead to a higher sale price, so be sure to consult with your agent and any staging or professionals they recommend.

5) Add some decorative touches

Spring is a time of renewal. To make the most of any positive feelings it evokes, why not bring the season inside? The best way to do that is with furniture and decor that makes your home feel big, bright, and airy.

Tasteful spring colours, light fabrics, and vibrant plants are the name of the game. A talented stager can determine which aesthetic decisions will have the best overall impact.

Spring market may be the ideal time to list, but that doesn’t mean you should forgo preparations. After all, making your home shine is one of the keys to securing fantastic results. Are you ready to take the first step?

Interested in learning how we can help you sell your home?

Reach out today to set up a consultation.

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Selling a Tenanted Property: What You Should Know

02.26.21 | For Sellers

Selling a Tenanted Property: What You Should Know

It’s finally time. You’re ready to put your investment property on the market—and enjoy the resulting return. There’s just one problem. You have a tenant.

Owning an investment property comes with many benefits, including steady, passive income and long-term price appreciation. One of the potential downsides is that when you have a tenant, things can get a little complicated when it’s time to sell. Fortunately, knowing the facts can make it easier to take this step.

If you’re selling a tenanted property, here’s what you should know to make the process as smooth as possible…

The rights of your tenants

It goes without saying that your existing renters have rights, and you must respect them throughout this process (because it’s the law—and the right thing to do).

First off, if your tenants are still in the first year of their lease, you must abide by its terms. It’s only after this initial period is over that you can terminate their tenancy. Of course, there are rules around doing so. You must provide them with two months’ notice, starting from the first of the month. For example, if you were to inform your renters that you’ve sold your property on March 15th, that period would begin on April 1st.

When it comes to showings, you’ll need to provide your tenants with at least 24 hours’ notice. Be aware that they aren’t obligated to leave your property when you bring prospective buyers in (though many renters prefer to do so).


Are you interested in growing your wealth through real estate? Read some of our investor-focused blogs right here:


Necessary steps

If your tenant’s lease is up, there’s a right way to let them know that you’re planning to end their tenancy. You’re required to give them their 60 days’ notice after the property has sold. That said, it’s nice to give them as much advanced warning as possible. If you know you’re planning to sell, try to tell them sooner rather than later.

When it’s time to give them their official notice, you’ll serve your renter with a Notice to End Tenancy (aka an N12) form. The exception is if your buyer is planning to use your space as an investment property. If that’s the case, they’ll need to take on your tenant—and their current lease terms.

Getting the best price

Selling a tenanted property can be somewhat complicated, but that doesn’t mean you can’t get a great result. To maximize buyer interest and get the best price possible, you’ll want to ensure your property looks its best. That can be a challenge when it’s tenanted. Unfortunately, you won’t have control over how the space you’re showing looks.

One option is to offer your tenant a months’ rent to move early (and assistance finding a place if it helps). Having a vacant property will put you in the driver’s seat—so you can clean it, perform any necessary repairs, and have it staged. These steps consistently help sellers get top dollar.

If this isn’t an option, your tenant may be willing to work with you to help ensure that your space makes a great impression. It’s just one more reason to maintain a good impression with those who rent from you!

If you’re unsure about how the process works, a skilled local real estate agent can help. It’s also a good idea to review the Residential Tenancies Act—and ask a lawyer if you have any questions about it.

 

To learn more about our approach to selling, see our latest Selling Guide.

 

Interested in learning how we can help you sell your home?

Reach out today to set up a consultation!

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01.7.21 | For Buyers

December 2020 Market Statistics

December’s market update is here!

Before sharing December’s market stats, we first want to recap 2020 and then finish this off by touching on 2021 predictions.

2020 RECAP

Despite the year we had with COVID, economic uncertainty & lockdowns, it was a record breaking year in Real Estate. The average sale price across the GTA reached a new record of almost $930,000. That is up 13% year over year. We saw a lot of competition for single family homes last year, which resulted in them experiencing the strongest price growth in the suburbs.

DECEMBER’S MARKET STATS

 

Let’s look at the December stats for Milton, Burlington and Oakville.

 

 

 

 

 

PREDICTIONS

Now let’s talk about 2021 predictions. The real estate market was extremely competitive in 2020 and we are expecting 2021 to be no different.

There are 4 main factors that will impact the real estate market this year.

⁠1. Immigration – In 2020 immigration dropped although Canada is planning on welcoming 1.2 million people between 2021 & 2023. ⁠⠀

⁠2. Interest rates – Interest rates have been at an all time low and are expected to stay low throughout 2021.

⁠3. Housing supply – We have been in a sellers market for months now and with people continuing to make significant lifestyle changes we don’t anticipate this changing. Currently supply is extremely low, so if you have been thinking about selling now is a great time.

⁠4. COVID 19 – The pandemic has caused buyer preferences to change. 2020 had many of us reconsider what is important to us, especially when it comes to our home. We anticipate home-buyer trends to continue to shift in 2021. ⁠⠀

 

RE/MAX Canada is currently anticipating that Ontario will experience 7-12% price growth in 2021.

Do you have questions about the GTA real estate market?

Reach out to learn more about your local market—and how we can help!

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