By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

Four-Season Cottages Becoming More Popular In Ontario

Four-Season Cottages Becoming More Popular In Ontario

A winterized cottage is one that is accessible and can be used any time of the year, even in the winter. This can be a huge selling point for cottages, and according to the Ontario Real Estate Association, the desire for a year-round cottage is only growing.   According to new research released by the Ontario Real Estate Association, 67% of real estate agents in Ontario say that buyers are “more likely” to be looking to buy cottages during the fall, while 80% of real estate agents say the trend of buying cottages that can be used all-year-round is increasing.   Ray Ferris, the president of the Ontario Real Estate Association, said that, “If you live in Ontario, no...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

CREA Updates Housing Forecast

CREA Updates Housing Forecast

While the rest of the country’s housing activity fell in line with expectations during the second quarter of 2016, Ontario and British Columbia have remained stellar exceptions according to the Canadian Real Estate Association.   The Canadian Real Estate Association recently updated its housing forecast for Ontario and the rest of Canada for the remainder of 2016, taking into account the new foreign buyer tax on home purchases in Vancouver and the expectation of Ontario heating up as a result.   “Year-over-year price gains have continued to mount in Ontario and British Columbia. While having accelerated in the former, price growth showed tentative signs of moderating in...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

When Is The Best Time To Buy A Home?

When Is The Best Time To Buy A Home?

Everyone has their own opinion when asked what the best time to buy a home is. Maybe it depends on local market fluctuations, their own personal experiences, the times of year when the market is known to be the busiest (spring!) or really, maybe their answer is “any time”. But did you know there’s a time of year that is consistently the best time to buy, when buyers are faced with less competition and might even be lucky enough to get a better price than they would otherwise?   It’s Christmas.   Why is Christmas the best time to buy a home? The answer is pretty much for the same reasons that at first thought, Christmas seems like the worst time for buying a ...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

Becoming A Country Home Or Cottage Landlord

Becoming A Country Home Or Cottage Landlord

Many people choose to rent out their home or cottage, or a part of it, to tenants. This is often a worthwhile endeavor for homeowners because it allows them to generate extra income or pay off their mortgages.  But one of the more difficult parts of doing this in Ontario is that the provincial landlord tenant laws are favourable to the tenants, and much less so the landlords.   Currently one of the biggest problems is that after about two months of non-payment of rent, landlords might file to evict the tenant, but the process of eventually getting to a hearing and then appeals can take several more months, leaving the landlord owed thousands of dollars in rent payments that can be ...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

Winterizing Your Cottage

Winterizing Your Cottage

Not everyone wants to think about the impending winter during the late summer. But for cottage owners, ensuring you’re fully prepared with a winterized cottage will ensure that you can worry less now while you’re enjoying your cottage in the summer months. More importantly, a winterized cottage is useable year-round and is more ideal than a summer-only cottage, whether you want to spend more time there with your family or rent it out to generate extra income.   Not every cottage can be winterized, but here are several things to be aware of if you’d like to consider updating your cottage for winter-use: Insulation Your insulation may need to be upgraded and you may ne...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

Gen X and Gen Y Buyers Looking For Detached Homes

Gen X and Gen Y Buyers Looking For Detached Homes

Just over half of Gen X and Gen Y Ontario residents who are planning on buying a home in the next year are looking to buy a detached home, according to the Ontario Real Estate Association. 18% of gen Xs are looking to buy a home in the coming year, while a quarter of gen Ys are planning on making a purchase.   51% of gen Ys said they are most likely to buy a detached house, followed by a condo, then semi-detached house and finally townhouse. 63% of gen Xs said they were more likely to buy a detached house, followed by semi-detached, then condo and finally townhouse.   Gen Ys are those born between 1977 and 1994, while gen Xs are those born between 1966 and 1976. “Based on the...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

What’s The Difference Between A Fixture And A Chattel When Buying A Home?

What’s The Difference Between A Fixture And A Chattel When Buying A Home?

Buying a home can be an overwhelming experience, and there’s a lot to learn when it comes to the various documents and terminology involved. Luckily, your real estate agent can help you navigate the sometimes-confusing waters, like whether something is a chattel or a fixture.   A fixture is something fixed within a home that will not be taken by the seller when they leave. A chattel is something moveable that the seller will take when they go. Confusion can arise when one is mistaken for or assumed to be another.   Where issues can arise, is when prospective buyers fall in love with certain aspects of a home and don’t realize that these items are chattels – meanin...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

Ontario Residents Are Feeling Positive About Their Local Real Estate Markets

Ontario Residents Are Feeling Positive About Their Local Real Estate Markets

The majority of Ontario residents have high hopes for their local real estate markets and economies, according to a new poll conducted by Ipsos Reid for the Ontario Real Estate Association. In fact, more than half (60%) of Ontario residents see the provincial real estate market as favourable.   “With significantly-improved perceptions across all markets and timeframes, it is clear to see why the index has posted its biggest gain to date,” said the vice president of Ipsos Public Affairs, Sean Simpson. “As home prices and sales figures throughout the province continue to astound, it is encouraging to see the Ontarians are feeling optimistic about economies and real estat...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

Where Does Water Damage Come From?

Where Does Water Damage Come From?

Just the words “water damage” can cause homeowners serious concern. That’s not only because of the problems it can bring when it comes to your property and personal possessions, but the implications – a leak or whatever is causing your moisture intrusion can potentially be expensive to repair. However, the best way to keep costs down and sort out the problem efficiently is to determine where your water is coming from. Typically, there’s three common causes of moisture intrusion and water damage:   1. Basement Window Wells    The outside of your basement windows is a common place for water to collect and intrude into your home if the window wells a...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

Home Inspectors In Ontario May Soon Be More Regulated

Home Inspectors In Ontario May Soon Be More Regulated

One of the best bits of advice you’ll hear during the home buying process is to get a home inspection. A home inspection costs just a couple hundred dollars, and a home inspector can spot problems that would cost tens of thousands of dollars to fix – saving you from major headaches.   But what some people don’t know is that home inspectors in Canada are not regulated in most provinces, including Ontario. This means that while there are plenty of trustworthy and knowledgeable home inspectors working in the province, the profession is open to anyone regardless of their training.   Three years ago, the government of Ontario assembled an expert panel to draft recommen...Read More