New Developments in London, ON: December 2014

The new development market in London, Ontario forges on, with 65 projects currently at various stages of development in the month of December 2014, according to Buzz Buzz Home. CMHC’s Housing Now fourth quarter update indicates that there has been a steady increase in buyers in the 24-25 years and 55+ year age groups who are representing a large share of the condominium market.

Fear Not Your Credit Score!

When it’s time to buy a home, checking your credit score is often the one thing that causes the most anxiety for my clients. I completely understand that it can be very overwhelming--especially if you don’t even know what your credit score is--to take this important step towards home ownership. The good news is that, no matter what your credit score may be, there’s a lot of simple things that you can do to improve it.

Renovations That Pay Back: Part II

In my last post: “Renovations That Pay Back: Part I,” I talked about how it’s important to consider choosing a neighbourhood that can support your renovations. It’s tempting for homeowners to go crazy with renovations, both design-wise and financially. But, before you start swinging the hammer, you want to make a plan that is focused on the bottom line. While you can definitely incorporate your own personal design taste (especially if you can see yourself living in the space for a long time) you want to concentrate first and foremost on the renovations that are going to see the greatest return.

Renovations That Pay Back: Part I

London, Ontario offers great opportunities for those interested in investing in renovating houses and seeing a return on a sale. You can score a great deal on a fixer-upper, put in some sweat equity and see a nice pay-off on your time and money. Neighbourhoods like the Old East Village and Wortley Village are full of century-old character homes that offer amazing properties that are ready for your renovations and designs, and are quickly becoming hot spots for ambitious homeowners who are interested in modernizing the space and respecting the history of these homes.

Long Winter Makes For A Hot Summer Market!

This past winter was long and cold for everyone, and the real estate market in London, Ontario and the surrounding areas seemed like it went into a bit of a hibernation as as result. Things were slow to thaw and a late spring contributed to the extended winter. However, it looks like the summer has been making up for lost time and overcompensating for the low number of sales in the early months of the new year.

How to Save $$$...Despite Rising Energy Costs

Has the air conditioning been saving you from the heat but draining your wallet all at the same time? Keeping your house warm in the winter and cool in the summer is somewhat of a necessity here in London, Ontario. We are all looking for ways to save money, especially when it comes to our homes, but with utility costs seemingly always on the rise, are there any alternatives?

London, ON's Affordable Real Estate

London, ON's reputation as a great city is in part due to its awesome neighbourhoods, but more and more people are migrating to the area for its affordable real estate. Just type “London, Ontario” into Realtor.ca to see for yourself. According to the latest real estate statistics for London, ON and the St. Thomas area, 170 condos were sold in April, which was up 18.1% from the same time the previous year. The average year-to-date price of a condo stood at $174,680 in April, while a single-family detached dwelling was $266,536.

Not Sure Where To Start With Your Curb Appeal?

We all know that curb appeal can make a big difference when it comes to buying or selling a home. After all, first impressions are everything. When getting ready to sell, however, it can be hard to justify spending the time and money on the outside of your house. Exterior work can be expensive, but the good news is that it doesn’t always have to be. Here are a few tips for easy, cost-effective ways to get your front lawn and home exterior in top condition: 

Thinking of Buying a Former Grow-Op?

The typical home buyers I help purchase real estate in London, ON are not exactly eager to take on the home ownership of a former grow-op house. However, it’s a well-known fact that if the home is a former grow-op, it's likely to be listed well below market value. There are a number of former marijuana grow-ops in London, Ontario that get put up for sale on the real estate market, so you need to be sure to research the history of the home you want to buy.

How to Stay Warm and Keep Your Costs Down This Winter

At this point during the winter season do you find yourself sitting in your home, cringing every time the furnace kicks in? Heating your home during the winter months can be expensive, and according to the Ontario Ministry of Energy, "[h]eating and cooling accounts for about 60 percent of an average home's energy costs."

The good news is that, in addition to the fact that winter will eventually turn into spring, there are a number of creative ways to save money on your heating bill. Best of all, none of the solutions (at least not the ones listed below!) will require you to wear a parka indoors or a toque to bed at night.

Here are a few inexpensive ways to keep your home warm and your bills down during the winter months:

Get Pre-Approved Before You House Hunt

So you've found the home of your dreams and now you strut happily to your mortgage professional to get financing so you can move ahead with putting in an offer. Except, once you sit down with your mortgage broker and crunch the numbers, you are hit with the news that you don’t qualify for approval on that particular home. This level of disappointment is completely avoidable. Getting pre-approved for a mortgage should be one of the first steps in the home buying process, and will help you and your Realtor have a more focused strategy when it comes to finding the home of your dreams. 

To learn about other considerations, check out this list of 8 important factors to keep in mind during the home buying process.

If the idea of getting pre-approved is enough to deter you from even starting the home buying process, then you may want to check out this video. You’ll see that getting pre-approved for a mortgage is not as scary as you think when you work with the right professionals.

Buying a home is a lot of fun, but seeing homes you can’t afford is not-so-fun. This is why it’s a good idea to get pre-approved for a mortgage before you head out to look at homes. Getting a pre-approval helps you determine a price range, and avoid the possibility of seeing all the homes that you can’t afford. Besides, the price you think you can afford is often different that the number you can actually afford.

There are a number of benefits to getting pre-approved before you check out homes, but here are the top three:

Saves Time

You’ll only look at the houses that are in your price range, which will let you focus your efforts and find a homes that is best for you.

Gives You Confidence

Negotiations can be tough, but knowing what you can afford will give you the confidence you need when you get down to the details of the deal. You won’t be second-guessing if you can actually be approved for that amount.

Stress-Free Closing Process

If you’re already pre-approved for the amount, the closing process will be quicker and easier. There’s also less of a chance that the deal won’t go through if you've already been pre-approved.

If you are looking to buy a home in London, Ontario or the surrounding areas, I can help steer you in the right direction of getting pre-approved for a mortgage. From there, we’ll narrow down the scope and compile a list of homes that fit within your range. The last thing you want to feel during the exciting home-hunting experience is the disappointment of falling in love with a home that you cannot realistically afford. There are plenty of affordable homes for sale in London, Ontario to fit within any budget. It’s one of the most affordable cities in Ontario (and possibly Canada, too!), and boasts everything from arts and entertainment to education and market-leading sectors. Click here to learn more about London, Ontario and all it has to offer or get in touch with me today. I know the top mortgage professionals in London, Ontario and have been helping individuals and families buy and sell real estate for over 10 years.

The Power of Staging Your Home for a Sale

In order to sell your home fast and for the price you want, it has to look its best. Like they always say: you only get one chance to make a first impression. Staging your home for a sale will dramatically impact the buyer’s experience positively and increase the potential of great offers.

Using Your RRSPs for a Downpayment

The home buying process is both fun and exciting, but can sometimes be a little pressure-filled as well. Your main focus is on buying a home that suits you and your family’s needs, but there’s a lot of financial elements that affect the process. There’s a lot to keep in mind throughout the entire home buying process and the best way to take advantage of a good opportunity is to prepare ahead of time. Organization is essential, and this includes knowing all of your options.