Understanding Gloucester Pool: A Hidden Gem in Real Estate

The Location and Geography of Gloucester Pool

Nestled in the heart of Ontario, Gloucester Pool is a stunning waterway that offers an idyllic setting for those looking to invest in real estate. Located between Port Severn and Big Chute, this area is known for its crystal-clear waters, scenic landscapes, and tranquil environment, making it a sought-after destination for homebuyers and investors alike.

Historical Significance of Gloucester Pool

Gloucester Pool is not just a beautiful place; it also holds a rich history. Originally used by Indigenous peoples and later explored by European settlers, this area has a fascinating past that adds to its charm. The historical significance of Gloucester Pool is evident in its preserved landmarks and the stories shared by the local community, including the nearby Big Chute Marine Railway, a unique piece of engineering history.

Demographics and Community Overview

The community around Gloucester Pool is a blend of permanent residents and seasonal visitors. The demographic is diverse, with families, retirees, and young professionals all finding a place to call home here. This diversity fosters a vibrant community spirit, making it an inviting place to live and invest in. The area boasts a friendly and welcoming atmosphere, with a variety of community events and gatherings throughout the year.

Why Invest in Properties Around Gloucester Pool?

Market Value and Appreciation Potential

One of the primary reasons to consider investing in Gloucester Pool real estate is the strong market value and appreciation potential. Properties in this area have shown consistent growth over the years, making it a smart investment choice for those looking to build wealth through real estate.

Comparison with Nearby Real Estate Markets

When compared to nearby real estate markets, Gloucester Pool stands out for its affordability and value. While other areas such as Muskoka may have higher price tags, Gloucester Pool offers a more reasonable entry point for investors without compromising on the quality of life and natural beauty.

Testimonials from Current Property Owners

Don’t just take our word for it—hear from current property owners who have found their dream homes in Gloucester Pool. Many have shared their positive experiences, highlighting the area’s peaceful environment, friendly community, and excellent investment returns. One local resident, Jane, mentioned, “Living by Gloucester Pool has been a dream come true. The tranquility and the community are unmatched.”

Top Features and Attractions of Gloucester Pool

Popular Water Activities and Boating

Gloucester Pool is a haven for water enthusiasts. Boating, fishing, and swimming are just a few of the popular activities that residents and visitors enjoy. The calm waters and picturesque surroundings make every day on the water a memorable experience. Local marinas such as Gloucester Pool Marina offer boat rentals and docking facilities, making it easy to explore the waterway.

Scenic Spots and Natural Beauty

The natural beauty of Gloucester Pool is unparalleled. From lush forests to rocky shores, the area is filled with scenic spots perfect for hiking, picnicking, and simply soaking in the serene views. This stunning landscape provides a perfect backdrop for any property. One must-visit spot is Six Mile Lake Provincial Park, where you can enjoy camping, hiking, and beautiful views of the lake.

Local Amenities and Services

Living near Gloucester Pool means having access to a range of local amenities and services. From quaint shops and restaurants to healthcare facilities and schools, everything you need is within easy reach, making life convenient and enjoyable. Nearby towns like Coldwater and Port Severn offer charming local businesses, while Midland provides more extensive shopping and healthcare options.

Real Estate Market Trends in Gloucester Pool

Current Market Statistics and Data

The real estate market in Gloucester Pool is thriving. Current statistics show a steady increase in property values, with a high demand for waterfront homes and cottages. This positive trend is expected to continue, making it an excellent time to invest.

Recent Sales and Property Listings

Recent sales in Gloucester Pool highlight the area’s popularity. Properties are selling quickly, often at or above asking price, reflecting the strong demand. Stay updated with the latest property listings to find your ideal investment opportunity.

Predictions and Future Outlook

Experts predict a bright future for Gloucester Pool’s real estate market. With ongoing developments and an increasing interest from buyers, the area is set to remain a hot spot for real estate investment in the coming years.

Waterfront Homes

Waterfront homes in Gloucester Pool offer breathtaking views and direct access to the water. These properties are highly sought after for their unique location and luxurious living experience. Whether you’re looking for a modern home or a rustic cottage, there are plenty of options to suit your taste and budget.

Cottages and Vacation Properties

For those looking for a seasonal retreat, cottages and vacation properties in Gloucester Pool are perfect. These charming homes provide a cozy getaway, allowing you to unwind and enjoy the natural surroundings. Many of these properties are equipped with amenities like private docks, fireplaces, and spacious decks.

Investment Properties and Rental Opportunities

Investing in rental properties around Gloucester Pool can be highly profitable. The area’s popularity with tourists and vacationers ensures a steady stream of rental income, making it a wise investment choice. Short-term rental platforms like Airbnb have seen a growing demand for properties in this picturesque location.

Benefits of Living Near Gloucester Pool

Quality of Life and Health Benefits

Living near Gloucester Pool offers numerous health benefits. The clean air, outdoor activities, and peaceful environment contribute to a higher quality of life and overall well-being. Residents often mention how the natural setting helps them relax and recharge.

Community Events and Social Life

The community around Gloucester Pool is active and vibrant, with numerous events and social gatherings throughout the year. From festivals to farmers markets, there’s always something happening, fostering a strong sense of community. The annual Coldwater Fall Fair is a local favourite, offering fun for the whole family.

Accessibility and Transportation Options

Despite its tranquil setting, Gloucester Pool is easily accessible. With good transportation links and proximity to major highways, getting to and from the area is convenient and hassle-free. The nearby Highway 400 connects you to Toronto and other major cities, making weekend getaways and commutes manageable.

Recreational Activities Around Gloucester Pool

Boating, Fishing, and Water Sports

The recreational opportunities in Gloucester Pool are endless. Boating, fishing, and water sports are popular pastimes, offering fun and adventure for all ages. The area is known for its excellent fishing spots, where you can catch a variety of fish, including bass and pike.

Hiking and Nature Trails

Explore the beauty of Gloucester Pool on foot by taking advantage of the many hiking and nature trails. These trails offer a chance to connect with nature and enjoy the stunning landscapes.

Family-Friendly Activities and Events

Families will find plenty of activities to keep everyone entertained. From playgrounds and parks to family-friendly events, there’s something for everyone in Gloucester Pool. The local community centre often hosts events and activities, ensuring there’s always something to do.

How to Choose the Perfect Property in Gloucester Pool

Key Factors to Consider

Choosing the perfect property involves considering several factors, including location, property type, and budget. It’s important to take your time and research thoroughly to make the best decision. Think about your lifestyle and what amenities are most important to you.

Working with Local Real Estate Agents

Local real estate agents have invaluable knowledge of the Gloucester Pool area. Working with an experienced agent can help you find the right property and navigate the buying process smoothly. Agents like myself are well-versed in the local market (sorry for the shameless personal plug).

Financing and Mortgage Tips

Securing financing is a crucial step in buying property. Explore your mortgage options and seek advice to ensure you get the best deal possible. Local banks and credit unions can offer competitive rates and personalized service. We also have access to trusted mortgage agents that can help you with all of your financing needs.

Local Community and Lifestyle at Gloucester Pool

Profiles of Local Businesses and Services

Get to know the local businesses and services that make Gloucester Pool a great place to live. From dining options to healthcare providers, this section highlights the best of what the area has to offer. Popular spots include The Dam Grill for a delicious meal and the Coldwater Dental Clinic for comprehensive dental care.

Schools and Education Options

Families with children will appreciate the excellent schools and education options available near Gloucester Pool. This section provides an overview of the top schools in the area, such as Coldwater Public School and Georgian Bay District Secondary School, both known for their strong academic programs and supportive environments.

Cultural and Recreational Organizations

Explore the cultural and recreational organizations that contribute to the vibrant community life at Gloucester Pool. These groups offer various activities and events for residents to enjoy. The Coldwater Canadiana Heritage Museum is a local gem, offering a glimpse into the area’s history and cultural heritage.

Environmental and Ecological Significance of Gloucester Pool

Conservation Efforts and Initiatives

Learn about the conservation efforts and initiatives aimed at preserving the natural beauty of Gloucester Pool. These efforts ensure the area remains pristine for future generations. Organizations like the Severn Sound Environmental Association are dedicated to protecting the local environment.

Navigating the Real Estate Process in Gloucester Pool

Understanding Contracts and Agreements

Gain a clear understanding of the contracts and agreements involved in buying property. Knowing the details can help you avoid misunderstandings and ensure a smooth transaction. Always review documents carefully and seek legal advice if necessary.

Post-Purchase Tips and Advice

Get valuable tips and advice for after you’ve purchased your property. From moving in to settling down, this section helps you make the most of your new home. Consider joining local community groups to meet your neighbours and get involved in community activities.

Contact Us: Your Gloucester Pool Real Estate Experts

How to Get in Touch and Schedule a Consultation

Ready to start your real estate journey in Gloucester Pool? Contact us today to schedule a consultation. We look forward to helping you find your dream property. Reach us here

Are you considering buying a home in the picturesque community of Tiny, Ontario? Known for its stunning landscapes and welcoming community, Tiny offers a unique blend of rural charm and modern amenities. In this comprehensive guide, we’ll cover everything you need to know about houses for sale in Tiny, ON, the real estate market, popular neighbourhoods, and much more. Let’s dive in!

How to Search for Listings in Tiny

Utilize online real estate platforms and contact Ben Robitaille, Sales Representative, to get the most accurate and up-to-date listings tailored to your preferences. You can sign up the receive listings when they hit the market here.

Contacting a Real Estate Agent in Tiny

Working with a knowledgeable real estate agent like Ben Robitaille can streamline your home search process and ensure you find the perfect property that meets your needs.

Tiny Real Estate Market

Overview of the Tiny Real Estate Market

The real estate market in Tiny, ON, is vibrant and growing, with a variety of properties available at competitive prices. Understanding the market trends can help you make an informed decision.

Market Trends in Tiny, Ontario

Keep an eye on current market trends, such as average home prices, days on market, and inventory levels, to gauge the best time to buy. For information on the market be sure to follow Ben Robitaille on instagram, youtube and facebook

Future Predictions for Tiny’s Real Estate Market

Experts predict a steady growth in Tiny’s real estate market, making it a promising area for both homebuyers and investors.

Browse Tiny Real Estate Listings by Property Type

Single-Family Homes for Sale in Tiny

Explore a wide selection of single-family homes, perfect for families looking for a spacious and comfortable living environment.

Condos and Townhouses in Tiny, ON

Condos and townhouses offer a low-maintenance lifestyle with modern amenities, ideal for first-time buyers or those looking to downsize.

Rural Properties in Tiny, Ontario

For those seeking tranquility and space, Tiny’s rural properties provide an idyllic setting with plenty of land and privacy.

About Living in Tiny, Ontario

Community Lifestyle in Tiny, ON

Tiny is known for its close-knit community and friendly atmosphere. Residents enjoy a high quality of life with access to various recreational activities and community events.

Cost of Living in Tiny, Ontario

The cost of living in Tiny is relatively affordable compared to larger urban centers, making it an attractive option for families and retirees.

Local Amenities in Tiny

Tiny offers a range of amenities, including shops, restaurants, schools, and healthcare facilities, ensuring residents have everything they need close by.

Popular Neighbourhoods in Tiny, ON

Best Areas to Live in Tiny

Discover the most sought-after neighbourhoods in Tiny, each offering unique features and benefits for different lifestyles.

Family-Friendly Neighbourhoods in Tiny

For families, certain neighbourhoods stand out for their excellent schools, parks, and safe environments.

Neighbourhoods with the Best Views in Tiny

If scenic views are a priority, explore neighbourhoods that boast stunning landscapes and waterfront vistas.

Tiny, ON Schools and Education

Top-Rated Schools in Tiny, Ontario

Tiny is home to several top-rated schools that provide quality education and extracurricular activities.

Education Resources in Tiny

From libraries to tutoring centres, Tiny offers a variety of resources to support students’ educational needs.

School Districts in Tiny, ON

Understanding the school districts in Tiny can help you choose the right neighborhood for your family.

Recreational Activities in Tiny, Ontario

Outdoor Activities in Tiny

Enjoy a wealth of outdoor activities, from hiking and biking to boating and fishing, in Tiny’s beautiful natural surroundings.

Local Parks and Nature Trails

Explore the numerous parks and nature trails that offer a peaceful retreat and opportunities for outdoor fun.

Community Centres and Sports Facilities

Tiny’s community centres and sports facilities provide a hub for recreational activities and social gatherings.

Commuting and Transportation in Tiny, ON

Public Transportation Options in Tiny

Learn about the public transportation options available in Tiny, including bus services and commuter routes.

Major Highways and Roads in Tiny

Conveniently located near major highways, Tiny offers easy access to neighboring towns and cities.

Average Commute Times in Tiny, Ontario

Find out the average commute times to popular destinations, making it easier to plan your daily travel.

Tiny, ON Real Estate Trends

Recent Sales Data for Tiny, ON

Analyze recent sales data to get a sense of property values and market activity in Tiny.

Seasonal Trends in Tiny’s Real Estate Market

Understanding seasonal trends can help you determine the best time to buy or sell a property in Tiny.

How Trends Impact Property Values in Tiny

Market trends have a significant impact on property values. Stay informed to make strategic real estate decisions.

Tiny, Ontario Demographics

Population Statistics for Tiny, ON

Get a snapshot of Tiny’s population statistics, including age distribution, household types, and more.

Demographic Changes in Tiny

Learn about recent demographic changes and how they affect the real estate market and community dynamics.

Impact of Demographics on Real Estate

Demographic trends play a crucial role in shaping the real estate market. Understand these trends to make informed decisions.

Buying a House in Tiny, ON: Tips and Advice

Steps to Buying a House in Tiny

Follow these steps to navigate the home buying process smoothly and efficiently.

Mortgage and Financing Options

Explore various mortgage and financing options available to homebuyers in Tiny, ON.

Working with a Real Estate Agent in Tiny

Partner with Ben Robitaille, Sales Representative, to benefit from expert advice and personalized service throughout your home buying journey.

Tiny, Ontario Community Events

Annual Events in Tiny, ON

Tiny hosts a variety of annual events that bring the community together and celebrate local culture.

Festivals and Fairs in Tiny

Enjoy vibrant festivals and fairs that showcase Tiny’s unique heritage and lively spirit.

How to Get Involved in the Community

Discover ways to get involved in the community and make the most of your new home in Tiny.

Comparing Tiny, ON Real Estate to Nearby Areas

Tiny vs. Midland Real Estate Market

Compare Tiny’s real estate market with that of nearby Midland to understand the differences and benefits of each area.

Pros and Cons of Living in Tiny vs. Nearby Towns

Weigh the pros and cons of living in Tiny compared to other nearby towns to make an informed decision.

Price Comparison of Tiny and Surrounding Areas

Compare property prices in Tiny with those in surrounding areas to find the best value for your investment.

Historic Homes in Tiny, Ontario

Notable Historic Properties in Tiny

Explore some of Tiny’s most notable historic properties that offer unique charm and character.

Preservation of Historic Homes

Learn about efforts to preserve Tiny’s historic homes and the benefits of owning a piece of history.

Buying a Historic Home in Tiny

Consider the advantages and considerations of buying a historic home in Tiny.

Tiny, ON Real Estate Investment Opportunities

Investment Properties in Tiny

Discover investment properties in Tiny that offer potential for rental income and long-term growth.

Rental Market in Tiny, Ontario

Understand the rental market dynamics in Tiny and how to maximize your investment returns.

Long-Term Investment Potential in Tiny

Tiny’s growing popularity and development make it a promising area for long-term real estate investments.

Luxury Houses for Sale in Tiny, Ontario

High-End Properties in Tiny

Explore luxury properties in Tiny that offer premium features and unparalleled comfort.

Features of Luxury Homes in Tiny

From waterfront views to custom designs, luxury homes in Tiny boast a range of desirable features.

Buying a Luxury Home in Tiny

Navigate the luxury home buying process with confidence by working with Ben Robitaille, Sales Representative.

Affordable Housing Options in Tiny, ON

Budget-Friendly Homes in Tiny

Find affordable homes in Tiny that meet your budget without compromising on quality.

Affordable Neighbourhoods in Tiny

Explore neighbourhoods in Tiny known for their affordability and community feel.

Government Programs for Affordable Housing

Learn about government programs that can assist with affordable housing options in Tiny.

Waterfront Properties in Tiny, Ontario

Lakefront Homes in Tiny

Enjoy the serene beauty of lakefront living with homes located along Tiny’s picturesque shores.

Benefits of Living on the Water in Tiny

Living on the water offers numerous benefits, including stunning views and recreational opportunities.

Waterfront Property Prices in Tiny

Understand the pricing dynamics of waterfront properties in Tiny to make an informed investment.

Tiny, ON New Construction Homes

New Developments in Tiny

Stay updated on new developments and construction projects in Tiny that offer modern amenities and design.

Custom Home Builders in Tiny, Ontario

Work with custom home builders in Tiny to create a home that perfectly suits your needs and preferences.

Pros and Cons of New Construction Homes

Consider the advantages and potential drawbacks of purchasing a new construction home in Tiny.

How to Sell Your House in Tiny, Ontario

Preparing Your Home for Sale

Get your home ready for the market with tips on staging, repairs, and improvements.

Pricing Your Home in Tiny

Work with Ben Robitaille, Sales Representative, to accurately price your home based on current market conditions.

Marketing Strategies for Selling in Tiny

Effective marketing strategies can help you sell your home quickly and at the best possible price.

Frequently Asked Questions About Tiny, ON Real Estate

Common Questions from Buyers

Find answers to common questions buyers have about purchasing a home in Tiny.

Common Questions from Sellers

Get insights into the most frequently asked questions from sellers in the Tiny real estate market.

FAQs About Tiny’s Real Estate Market

Understand the nuances of Tiny’s real estate market with these frequently asked questions.

Whether you’re buying, selling, or investing, Tiny, Ontario, offers a wealth of opportunities. For personalized assistance and expert advice, reach out to Ben Robitaille, Sales Representative, who can guide you every step of the way in your real estate journey in Tiny, ON.

When searching for houses for sale in Barrie, it’s essential to understand the local market, neighbourhoods, and amenities that make this vibrant city a great place to live. This guide covers everything you need to know about Barrie real estate, from market trends to community highlights.

About Living in Barrie, Ontario

Benefits of Living in Barrie

Barrie offers a perfect blend of urban and suburban living. Residents enjoy beautiful waterfront views, a strong sense of community, and access to outdoor activities year-round. With its strategic location, Barrie is a popular choice for families and professionals alike.

Lifestyle and Community Highlights

The lifestyle in Barrie is dynamic and family-friendly. From local festivals to farmers’ markets, there’s always something happening. The community is welcoming, making it easy for newcomers to settle in.

Barrie Real Estate Market

Overview of the Current Market

The Barrie real estate market is competitive, with a range of options for buyers. Even though the current Canadian interest rate environment has slowed transaction numbers through the beginning of 2024, homes for sale in Barrie are in demand due to the city’s growing population and attractive amenities.

Key Factors Influencing the Market

Several factors influence the Barrie real estate market, including interest rates, economic growth, and regional development. Understanding these elements can help potential buyers make informed decisions.

House Prices in Barrie

Average Home Prices in Barrie

As of 2023, the average price for houses for sale in Barrie is approximately $700,000. Prices can vary significantly based on location, property type, and market conditions.

Find Real Estate & MLS® Listings in Barrie

How to Search for Houses for Sale in Barrie

Searching for houses for sale in Barrie can be streamlined through various online platforms. Utilizing real estate websites and local listings can help you find your dream home efficiently. By using our perfect home finder, you can sign up to receive daily emails with new listings that match the criteria you’re searching for. Then when you’d like to see a home, contact us to schedule your private showing. 

Using the MLS® System Effectively

The MLS® (Multiple Listing Service) is a powerful tool for homebuyers. It provides comprehensive listings, allowing you to filter by price, location, and property type to find houses for sale in Barrie that meet your criteria.

Barrie Real Estate Market Trends

Future Predictions for Barrie Real Estate

Experts predict that Barrie’s real estate market will continue to grow, driven by population increase and ongoing development projects. This makes investing in houses for sale in Barrie a smart choice.

Barrie Neighbourhoods

Popular Neighbourhoods for Families

Barrie has several family-friendly neighbourhoods, such as Allandale and East Bayfield, known for their parks, schools, and community amenities. These areas are ideal for those looking for a welcoming environment.

Up-and-Coming Areas in Barrie

If you’re looking for potential investment opportunities, consider exploring up-and-coming neighbourhoods like Painswick and Holly. These areas are seeing growth and could offer great value for future buyers.

Barrie Demographics

Population Overview

Barrie’s population has been steadily increasing, currently standing at over 150,000 residents. This growth contributes to the demand for housing and a diverse community.

Key Demographic Trends

You’ll find a mix of young professionals, families, and retirees in Barrie. Understanding these demographic trends can help you choose the right neighbourhood for your lifestyle.

Barrie Schools

Top-Rated Schools in Barrie

Barrie boasts several highly-rated schools, making it a great place for families. Schools such as Barrie Central Collegiate and Innisdale Secondary are popular among residents.

School Districts and Their Impact on Real Estate

Proximity to quality schools often impacts property values. Buyers often seek homes near well-regarded school districts, adding to the appeal of certain neighbourhoods.

Commuters

Commuting Options in Barrie

Barrie offers various commuting options, including GO Transit services to Toronto. This accessibility makes it an attractive location for those working in the city but seeking suburban living.

Impact of Commuting on House Prices

Commuting convenience can significantly influence house prices. Homes closer to transit stations often command higher prices, making it essential to consider location when searching for houses for sale in Barrie. Typically investments in infrastructure in a location for increase public transit is a great indicator for real estate market growth. 

Local Scoop

Barrie Community Events and Activities

Barrie is known for its vibrant community events, including summer festivals, winter fairs, and local markets. Engaging in these activities fosters a strong sense of belonging among residents.

Local Amenities That Enhance Living in Barrie

From shopping centres to recreational facilities, Barrie offers plenty of amenities that enhance the living experience. Access to these features often plays a role in the desirability of houses for sale.

FAQs About Houses for Sale in Barrie

Common Questions Buyers Ask

Many potential buyers wonder about the buying process, financing options, and the best neighbourhoods to consider. Addressing these questions can make the home-buying journey smoother. Of course, we can answer all of these. Start your buying journey here.

Tips for First-Time Home Buyers

First-time homebuyers should research thoroughly, set a budget, and consider working with a local real estate agent (like us) to navigate the Barrie market effectively. 

What are the Most Expensive Neighbourhoods in Barrie?

Luxury Areas to Consider

For those looking for high-end options, neighbourhoods like Shoreview and East Bayfield offer luxury homes with stunning views and upscale amenities.

Features of High-End Homes

High-end homes in Barrie often feature spacious layouts, modern finishes, and premium locations. These properties cater to buyers seeking both comfort and style.

What are the Most Affordable Neighbourhoods to Buy a Home in Barrie?

Affordable Areas Worth Exploring

If you’re on a budget, neighbourhoods like Painswick and Letitia Heights offer more affordable housing options without compromising on community and amenities.

Budget-Friendly Home Options

Consider townhouses or condos as budget-friendly options in Barrie. These property types can provide excellent value while allowing you to invest in the local real estate market.

With this comprehensive guide to houses for sale in Barrie, you’re now equipped with the knowledge to navigate the local real estate market effectively. Whether you’re a first-time buyer or looking to invest, Barrie has something for everyone. Happy house hunting!

When purchasing or selling a property, it is always a good idea to work with a professional, especially when it comes to the largest financial asset you own.

Realtors can do everything from getting you the best price, showing you the most amount of homes, educating you on the marketing and informing you on important information regarding the contracts.

So why should you work with a realtor?

They will get you the best price

Whether you are buying or selling a home, a realtor will likely get you the best price.

When selling a home, a realtor will do a comparative market analysis, so you will know the top market value of your home and not sell for less than what it is worth.

They will also be able to inform you on what upgrades need to be done and where to put your money in terms of renovations and repairs.

They will help you in staging the property, have the property professionally photographed, marketed and ready to be put up for sale. This will in turn get you the most amount of buyers which will get you the highest offer.

If you are purchasing a property, a realtor will be able to look at what has sold in the area, factor in any differences and come to the market value of the property you are looking at. They will also be able to go over a home inspection with you so you will know if there are any major repairs that need to be done or any deficiencies with the property. This all will make sure you do not overpay for a home because you didn’t know what to look for.

They know of more properties

If you are looking to purchase a home, realtors may have access to more properties than you do.

They themselves or someone in their brokerage may have access to exclusive listings that are not on the market. They may also have access to properties that are about to go up for sale, so you might get access to first viewings.

They will also be able to show you different areas and types of homes from resale to new build, detached to condominiums so you can explore all options.

In turn, you will have access to more properties than you would doing the search alone.

They can negotiate for you

When it comes to negotiation, a realtor will have more leeway. They likely have negotiated many times on getting the best price for a property in the past, so will have strong negotiating skills that will work to your benefit.

They will also have access to past sales in the area which will aid in their negotiation on your offer. And negotiating yourself, with no past experience and no comparable sales will not likely get you the price you want.

They are knowledgeable

There is a lot to know about the real estate market, from clauses to closing to taxes and lawyers and everything in between. If you do not have a qualified professional with you, you might make mistakes that could cost you a substantial amount of money in the long run.

Conclusion

Using a realtor is not an added service when it comes to purchasing real estate, it should be a mandatory one.

When buying or selling you will want to get the best price, getting either top dollar for the home you are selling or the best price on the one you are buying.

From everything to home inspections to getting the keys, a realtor will be there to answer all of your questions and make sure the process goes as smoothly as possible.

Purchasing a home will inevitably be the biggest financial discussion of your life. And the decision as to whether it is the right time to purchase a home depends on a number of factors. And it is not just your finances.

Although your finances are important, other things you should consider before putting in an offer are your age, the current real estate and mortgage market and of course where you see yourself in the future.

So should you rent or purchase a home? Find out by asking yourself the following questions.

What are your future plans?

In the short term, renting is always cheaper. There are substantially less costs involved in renting, and normally just comprise of first and last months, a monthly hydro bill and maybe the actual expense to move.

Where if you decide to purchase a home there are a number of costs involved. Even once you are able to save the deposit you will need to save an additional amount to pay the costs of purchasing.

Other costs include land transfer taxes, lawyers fees and potentially closing costs. And once you do move in, your monthly bills will likely be more than if you were renting.

It is best to calculate how long you plan to stay where you are. If you plan to stay indefinitely, then purchasing is your best decision. If you plan to stay for only a few years, then renting may be substantially cheaper.

There are scenarios where this may not be the case. If you are purchasing in a large metropolitan city or in the surrounding areas of one, there is a chance that the market could go up substantially in a couple years time, in which case you would have made money. But no one knows for sure what the market is going to do, so it is best to take the risk you feel most comfortable with.

How old are you?

If you are still in your twenties you may end up relocating due to relationships or career opportunities. In which case renting would give you more flexibility than purchasing.

If you are in your thirties and are in a longer term relationship and are more established in your career, then purchasing may be a better option.

As well, most people spend their twenties saving so they can purchase in their thirties. But the sooner you know where you want to live and who you want to be with, the sooner you should purchase.

How much does it really cost?

There are a number of fees that come with home ownership. And as we have gone over a few already, it is best to run the numbers yourself so you have a better idea of how much it would cost to purchase vs rent.

Fees to purchase include saving the deposit, which is usually about 20% of the purchase price of the home. Lawyers fees, land transfer fees, closing costs if the home your purchased is new build and moving expenses including moving trucks.

You will have to furnish the new home, you may need to purchase window treatments and do any needed renovations or repairs.

And of course, your carrying costs. With renting you normally just pay your landlord once a month and then possibly a hydro bill and or tenant insurance. But when you own a home you will have to pay your mortgage, property taxes, maintenance fees if it is a condominium and any additional bills like hydro and insurance. You will also need to put some money away on a monthly basis to save for future repair or maintenance of the home including replacing the roof or furnace.

Depending on how much you have saved to put down on the property and how much rent is in the city, you would have to run the numbers yourself to see what makes sense. But make sure you consider the amount of buying vs renting in the long run and the costs associated with each.

Are you in high interest debt?

If you have car loans, credit card debt or any other debt that has a high interest rate, it may make more financial sense to pay that off and then save up for the deposit for a home.

Buy taking out a mortgage when you are already in a substantial amount of debt, may be putting yourself in a worst financial situation.

And the likelihood of getting a mortgage or a mortgage with a good interest rate, will be lower if you already have a number of loans.

Take care of the debt you are in, and then sign off on the big mortgage loan.

Do you have the deposit saved?

If you do not have between 10% and 20% of the purchase price of the home saved then your monthly payments will be a substantially lot more. Putting down as much as you can will keep your carrying costs lower.

As well, if you do not have at least 20% saved, you will likely have to insure your mortgage which can up your monthly payments.

Assess your current savings, see how long it will take you to save a deposit, and start looking once you have it saved.

Another option, if you feel comfortable, is asking your parents to lend you a certain percentage towards the price and paying them back a certain amount every month, so you can sooner get into the market.

Run the numbers and know what makes the most sense for you.

Is your job stable?

How many years have you been in your job? Do you plan to stay in the field you are in? These are the types of questions you should be asking yourself when thinking about purchasing.

If you are happy in your line of work, you plan to stay in the city you are in and you are confident that your job is stable, then purchasing is likely your best bet.

But if you are in a line of work that involves contract, seasonal work or if you have just started your job or would consider moving somewhere else, then you should hold off on purchasing until you are more decisive.

Conclusion

It may seem like the obvious choice to build equity and bank in on future appreciation, but purchasing may not always be your best option.

If you are just starting out in your career, have other debts, have not saved a sufficient deposit, are not established in your line of work or might consider moving, then you might want to consider renting until you are in a more stable and confident position about the future.

With a never ending list of everything you ‘should do’ when purchasing a home, it seems counterproductive to focus on what you should not do. But being aware of the dont’s is just as important as the do’s, when it comes to making the biggest financial investment of your life.

And knowing what not to do, just might land you better financing and the home of your dreams.

It may seem obvious to not do certain things like switching your job or co-signing a loan, but did you ever think that depositing cash or financing a new piece of furniture could affect your ability to get a mortgage?

As big as your ‘to do’ list is when purchasing a property, make sure you also have your ‘not to do’ list in close reach.

Read on to make sure you are avoiding these common mistakes and what to be aware of before you make your first offer on a property.

#1 Don’t overestimate what you can afford

Before you even begin the search for that perfect property, it is essential that you get pre-approved. Looking for homes outside of your budget is a waste of your time and can wreak havoc on your emotions.

And you will be disappointed if what you are pre-approved for is substantially less than what you thought.

It is best to run the numbers yourself before meeting with a mortgage broker. Mortgage brokers will likely do a debt to loan ratio. Meaning, they take your monthly debt and divide it by your monthly income. Most mortgage brokers want to keep your debt to loan or DTI below 33%. So for example, if your debt is $1,500 a month (and debt accounts for debt obligations like car payments and student loans not bills like you cell phone or power bills) and you make $6,000 a month, your DTI is 25%. They will calculate your new monthly mortgage to make sure your overall DTI is below 33%.

A great way to understand your own spending habits is to track them. There are a number of apps you can use like Mint or Itab that allows you to record your daily purchases. There is a section for you bills and you can calculate how much you are saving a month as well.

Once you allot for things like taxes and vacations you will have a pretty good idea of where your money is going. Replace your rent or your current mortgage payment with a monthly mortgage payment you would feel comfortable with and make sure you are in that ballpark when getting a loan.

You know your own lifestyle, if you like to travel and dine, than you may want to make sure you will have the disposable income that suits your own life.

#2 Don’t get emotionally invested

When you find that perfect home, it can be hard not to get emotionally attached. Depending on the time of year or the market you are in, there could be other offers on the property or things could go wrong like the home inspection and the offer could fall through.

Go in the home buying process with high intention and low attachment. It will keep your spirits high when looking for that perfect place.

#3 Don’t make any large purchases

When you begin thinking about purchasing a home, make sure you avoid making any large purchases. Large purchases such as buying a new car, a new furniture set or a home entertainment center. Banks will look at your financial history and want to see any recent activity.

The mortgage pre-approval you were given is based on how much money you had in your account and how much money you owed at the time you applied. If you make a large purchase and there is less money in your account, the less money the bank will be willing to lend you for your mortgage.

As tempting as it is to envision furnishing a new property or parking your new car in the driveway of your dream home, hold off till you close on the property and are sure you can afford it.

#4 Don’t take out or put in large amount of cash from your bank account

Do not put in or take out large amounts of cash. The bank financing you will flag large deposits coming in because they may be loans from a bank or another lender. You in turn would have to pay back those loans on top of your mortgage, which would damage your loan to debt ratio.

A parent or family member may have gifted you part of your down payment in which case they may need to sign a letter stating that the money was a gift and you will not be paying them back. If you did in fact have to pay them back, it would be added to your monthly debt.

If you do happen to get a large sum of money from selling something like a car or if someone pays you money back that is owned, you may just have to prove it was from a legitimate source.

Most lenders will look at up to 60 days worth of bank statements. It is best to get your documentation organized prior to applying for the mortgage and make sure you can account for any large withdrawals or deposits.

#5 Don’t apply for more credit

How much you will get to finance your house will come down to how much money you have saved and how much money you have coming in, or your capital. Any extra debt will decrease the amount you are approved for so adding anymore credit can greatly affect how much your loan will be.

#6 Don’t co-sign a loan

This may seem like common sense but if a friend or family member needs you to co-sign a mortgage then you might not think anything of it. But co-signing a loan can really effect your own chance of being able to get one.

If they default on their mortgage then you are responsible for the payments, which in turn would affect your ability to make your own. In cases like these, it is best to protect your own financial interests.

#7 Don’t finance anything

Along with new home purchases comes new appliances, new furniture and maybe a new big screen TV. But financing anything when applying for a mortgage or prior to closing will do more harm than good.

Stay clear of the temptation to get every last thing you need for a new home and focus on your ability to afford it in the first place.

#8 Don’t switch a job, leave a job or start a company

Your ability to show you are financially stable is the single biggest determinant in getting a mortgage. Quitting a job or switching jobs can aid in your potential risk to a lender that you are not in a good financial or stable position.

If you are planning on applying for a new position or starting a company, it is best to do it once you have closed on the property. And of course, try not to get fired.

#9 Don’t miss loan payments

If you do have any loans you’re paying off, make sure you do not miss any payments. You likely haven’t missed any if you have good credit, but be extra cautious when applying for a mortgage.

Sometimes they’re honest mistakes like having been away for work or on a trip for a substantial amount of time. Or maybe you were in the hospital or a family member was sick so you were not as on top of your bills.

But having a 30 day missed payment can drop your credit by more than 100 points. So be sure to stay on top of your finances, especially when your credit score is crucial to your pre-approval.

#10 Don’t switch banks

I mean you likely don’t switch banks very often, but sometimes banks offer freebies like televisions sets or cash back when opening an account. It can be tempting, especially given the timing, but detrimental to a mortgage pre-approval.

Stick with the bank you have now so you will be able to provide at least 60 days of transactions and bank account balances. It may seem minor but can make your life a lot more complicated than it needs to be if you switch your bank last minute.

Conclusion

The list may be longer than you expected, but you can easily avoid a number of problems by understanding what can affect your decision making and your ability to get financing when you are getting ready to purchase a new home.

By getting your finances and documents in order prior to getting a pre-approval, and by getting a pre-approval prior to searching for a home, you will be well ahead of the game. And once you have the pre-approval, you will know everything not to do, so it is still effective on closing.

And that’s it! Hold off on that new car, stick with the bank you’re with and stay on top of your bills. Mortgage pre-approvals can be stressful and time consuming but well worth the extra effort once you get the key to your dream home!

When getting ready to sell your home, it can be hard to know what renovations will get your property sold the fastest and for the most amount of money. Should you replace your furnace or redo your kitchen? Should you gut your bathroom or add another one? Should you get your roof done or buy new appliances?

Or you might wonder what the small inexpensive things you can do that will make a substantial difference to upgrading your home.

And of course, most importantly, how much money are you going to recoup on the listing price if you do make the investment?

Below is a list of your most worthwhile renovations when it comes to getting your home ready for the market.

Painting

Return: 100% +

Painting is one of the easiest, fastest and cheapest ways to get your home ready for the market. And the best part is that you might actually make money by doing it! Most painting jobs add more than 100% back of what it costs to the list price, so it is well worth your time to push your furniture to the centre of the room and add a fresh coat of paint to your home.

And remember when it comes to getting your home ready to sell, you want it to be neutral, clean and modern. Painting a living room or a bedroom a bright or unusual colour may suit your tastes but won’t necessarily suit those of your prospective buyers.

Garage Doors

Return: 98%

Curb appeal is huge when it comes to buying and selling real estate. So getting the outside of your home in tip top shape can lure in the most amount of buyers.

Simple things like landscaping or new potted plants can aid in the outside appeal of your home but one of the biggest things you can do with almost 100% return is replace your garage doors.

As they make up a large percentage of the outside of your home, and are one of the main points of view when driving up to your house, having them in perfect condition will do wonders to the perceived state of your property.

And the best part is you will likely get very close to if not all of your money back on it! It’s a win win for both buyer and seller.

Entry Door

Return: 91%

It seems like a minor upgrade but can make a huge difference when getting your home ready for the market. Again, as with painting, you will want to look for neutral colours that blend well with the outside facade of your home. You want clean lines and a fresh feel to your front porch, as prospective buyers first impressions are crucial.

Additional Square Footage

Return: 70%-80%

Most homeowners want more space. And adding an additional room or two will make your home a lot more appealing on the market. Plus you get a large percentage of the investment back. So if your home is on the smaller side, especially when it comes to comparables, then it might make sense to add additional space.

And, a 2005 study for the National Association of Realtors found that every 1,000 square feet, upped a homes sale price by 30% or more.

Bathroom Addition

Return: 60%

You have two options when it comes to bathrooms, you can renovate the one you have or add an additional one. For most families, one bathroom might be a deal breaker, so from both a logical and financial perspective, it would make the most sense to add an additional bathroom.

Do your research and find out how many bathrooms are in the other homes in the area. If you are one less than the average on the market, then it will be a deterrent for buyers to view your property.

Minor Kitchen Remodel

Return: 81%

There is a big difference between a minor and a major kitchen remodel. Most minor kitchen remodeling with run you around twenty to twenty five thousand and a major one could be double that. And doing the lower end of the remodeling can still leave you with a really nice kitchen.

Minor remodeling includes new countertops, cupboards, flooring and fixtures. Larger ones would mean replacing appliances, light fixtures, sinks and refacing cabinets.

Ikea does beautiful kitchens which are quite modern for a substantial amount less than the average kitchen remodel. Something to check out if you kitchen is going to hurt you on the sellers market.

Bathroom Remodel

Return: 70%

Women love beautiful kitchens and bathrooms. And although it might make more sense to add a bathroom than to remodel one, if you already have a sufficient number of bathrooms, then remodeling the ones that need it most might be money well spent.

Most articles will tell you to forgo the tub and get a walk in shower, this adds space to the bathroom and as long as there is at least one tub in the home, most people do use them unless they have young kids.

Replacement Roof

Return: 68%

Being able to add ‘new roof’ to your listing can add a lot more credit than you think. And you may only recoup the cost of close to 70% of the expense, but have a worn out or leaking roof can deter buyers and leave you house sitting on the market.

And remember, the function of your home is going to be buyers top priority, so best replace the room than the kitchen counter if the roof is not in good condition.

Adding a Deck

Return: 70%

Your home may already have a deck in which case replacing the wood or refurbishing it, may be all you need to do. But if you do not have a deck and decide to put one on your home before you sell, then you will likely get close to three quarters of the cost back. And any additional space that has been added to your home is going to increase the value.

Finished Basement

Return: 70%

In the article Finished Basements Add Space and Home Value they recommend that you shouldn’t spend more than 10% of the value of your home and better to stay between 5% – 10% refinishing a basement.

But as with adding square footage or a deck, a finished basement adds livable space to a home that is a big part of buyers decision making when looking for what fits their needs.

Again, assess the market, and see if it makes the most sense in terms of where to put your money for upgrades.

Conclusion

When selling your home, you have to think like a buyer. And as you are likely going to be purchasing a home after you sell the one you currently live in, you know what is most important to you.

A beautiful kitchen is not going to make up for a broken furnace or a leaking roof. One beautiful bathroom will not make up for the overall lack of bathrooms.

Make a real assessment of your property and what actually needs to be done. Make sure you are not overlooking the simple things like curb appeal and that you’re prioritizing function over aesthetic.

And remember, most buyers plan to do upgrades themselves once they move into a new home, so don’t overemphasize how it looks over the actual structure.

Also, note that the percentage you get back is based on a number of factors including the price of your home, the average price of the neighborhood, the city you live in and how hot the market is. Assess what needs to be done in your home and opt for the projects that you are going to make the most amount of money back on.

Sources
The Paint Colors that can Boost Your Homes Value
These 15 Home Renovations Have The Highest Return on Investment
Which Home Improvements Pay Off?
Deck Building: What Will Be Your Return On Investment?
Finished Basements Add Space and Home Value