- Is owning an investment property in Clarence-Rockland, Ontario profitable?
- We often get questions around buying new homes or condos, especially since the market started heating back up in the spring, but there’s still lots of people who haven’t bought yet! So, today I wanted to take some stock in new home buyers and see if there was anything they should be doing differently as we approach 2022.
What should first timers consider? Here are my top 5 considerations for getting ready to buy new homes and condominiums in the region. If this sounds familiar, then you probably already have most of these covered. We just thought it would help anyone else reading along, so we figured it could only hurt to throw them at you again anyway.
1. Location Is Everything
So many times we hear “buy in the city” as the answer to everything. Well, location really does matter a lot. But, it depends on exactly what you’re trying to accomplish with the purchase. For instance, if you’re going for convenience/accessibility, location will play a big part in whether you find something close enough that you actually live somewhere near work instead of having to spend 30 minutes in traffic daily. However, proximity isn’t always ideal either, because sometimes you might prefer living next door rather than across town, which could impact resale value down the line. In other words, it’s definitely worth considering your specific needs and preferences before settling.
2. Ask Questions About Your Neighbourhood
Nowadays, there’s no shortage of online reviews, so asking neighbors is a great way to learn things like: what’s this neighbourhood like? Do they seem happy there and/or friendly? And, if they aren’t happy there, why did they move away in the first place? These types of questions can go towards helping you figure out what neighbourhoods are good choices for you too.
3. Have Fun Doing Research & Planning Ahead
When thinking ahead, planning is key. When I say planning ahead, I mean making sure you have plenty of time to scope out locations and prices. There’s nothing worse than waking up after signing the deal, realizing that you missed a couple of spots by accident. Make sure you leave yourself plenty of time to research options. Even though buying real estate can feel stressful, try to keep it lighthearted. I usually recommend starting with Pinterest or Instagram and scrolling through photos of homes until your heart stops beating so fast. Then, when you start feeling calm, head straight for a mortgage broker and get those numbers dialed in.
4. Think Long Term
If you’re planning on selling in 3 years or less, I wouldn’t wait too long to put a property on the MLS or advertise it online (depending on local laws). For example, if your house is listed in June, it might be sold by August at worst case scenario. By waiting until July, you could potentially save months of potential buyer interest. But, as mentioned earlier, if you have time on your hands, I encourage everyone to jump on the listings while they’re hot!
5. Be Open Minded
Last, but certainly not least, when shopping for...
- New Home Clarence-Rockland Buying 101
- If you live in the Greater Toronto Area (GTA), then chances are you already own a house, condominium or apartment somewhere in this beautiful city. If you haven't yet purchased property in this area but would like to consider doing so, read through this article first because you will learn everything you could ever possibly need to be informed, educated, prepared, and ready to purchase in Clarence-Rockland, Ontario.
When buying a new home in Ontario you should always consult with a real estate agent who specializes in selling homes in the GTA region. They have an understanding of local market trends that can help them advise you better than anyone else. However they will charge you for their service which is why I suggest finding someone who does not work for an agency, and instead, find a person who owns his/her own business. An independent contractor will usually provide superior customer services because he/she knows exactly what you're going through, and he/she will be able to give you honest answers and feedback regarding your situation without having to sell anything at all.
In addition to hiring an expert broker to assist you in making decisions related to your housing search, you'll also need a mortgage professional. Mortgage professionals specialize in providing financial aid for those interested in buying a home in Canada, whether that's through conventional mortgages or non-conventional mortgages. These types of lenders offer different programs depending upon your needs and your ability to repay the debt over the duration of the loan. For example, there are fixed rate mortgages (also known as interest only loans) and variable rate mortgages. Fixed rates are more expensive than adjustable ones as you pay less each month but the monthly payment is higher for the entire length of the term; while adjustable rates fluctuate each week based on changes in global markets and government policies.
Before deciding which type of financing you should use, you must determine how long you intend on living in Clarence-Rockland, Ontario. Some people prefer to stay put until retirement, while others move away once children reach school age. Regardless, you need to decide on the amount of money you need in order to comfortably buy a new home. Once you've calculated the total cost associated with owning a place in Clarence-Rockland, Ontario, compare the costs to renting. Remember though, that even after paying rent and other bills, homeowners still get equity back. Equity is basically what you earn in return for putting down 20% or 25% of the price tag on your dream new home. So even though you won't earn interest on your initial deposit, you're still getting something back in the form of appreciation that comes along with owning property.
Another way to save money is by shopping around for deals. There are lots of websites online which allow you to enter details about yourself including your desired location, number of bedrooms and bathrooms, size of yard, etc. Then you simply receive listings of properties matching your criteria. This saves money because most agents don't bother showing houses unless they feel it matches your requirements perfectly.
Finally, before actually starting the hunt, it pays to research the neighbourhood thoroughly. Find out about schools, restaurants, community events, crime stats, nearby transportation options, traffic patterns, proximity to parks and recreation centres,...
- When buying a new home in Ontario follow these steps
- Clarence-Rocklands real estate market has experienced rapid growth since 2014 due to strong demand for quality housing, particularly in the GTA region. However, this growth has come along with a few issues including rising prices and supply shortages. As a result many new homes remain vacant while buyers search for affordable options outside of Toronto’s hot markets like Mississauga, Brampton, Markham, Vaughan, Oshawa, Kitchener-Waterloo and Hamilton.
To help address these problems, XONDO created Clarence-Rocklands Home Search & Purchase Plan which includes four steps to make buying a property easier. We are proud to be part of this exciting community. Our team will work with you every step of the way to ensure your dream becomes reality.
Here's how the Home Search & Purchase Plan helps you get started...
STEP 1 Find A Property
Xondo makes finding properties fast, affordable and effortless. Our proprietary technology uses AI algorithms and machine learning to identify high quality listings and connect clients to them quickly through our online portal.
We offer three types of searches, each designed for different needs. Find the perfect place today! https://www.xondoproperties.ca/findaproperty
STEP 2 Choose An Agent
When you've found the property you're interested in, we will pair you up with a local agent who can advise you on financing options, home inspections and other services.
Your agent will keep you updated on the status of your transaction, answer questions and provide guidance throughout the purchase process. They'll also help coordinate inspections and showings on your behalf.
STEP 3 Secure Financing
Financing a house isn't always easy. But thanks to XONDO's partnerships with banks and mortgage companies around Canada, getting preapproved is quick and painless. Once you have secured a mortgage, we will handle closing costs and paperwork to complete the sale.
Learn More > https://financingsuccessstory.xonodo.com/mortgage
STEP 4 Close On Time
Closing takes longer than you'd expect because of red tape and regulations. Fortunately, XONDO is committed to streamline the process by making everything transparent and accessible to everyone involved from home inspectors and contractors to title agents. We take care of all the legal stuff, saving you valuable time and hassle during your move in.
Get Started> https://myhomefinder.xonodo.com/closetime
If you have further questions regarding the process, feel free to contact me via email at firstname.lastname@example.org
Thanks for reading! I hope that you enjoy the article and that it helps you in some way. Feel free to reach out to us for anything else you would like covered.
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- How to find Your New Clarence-Rockland Home or Condo
- Ontario was named among “the most liveable places to work” this week. According to real estate agency Urbanation, Canada’s fifth largest province boasts some of North America’s finest urban centres. And while Toronto remains the country’s economic hub, other cities like Ottawa, Waterloo, Kitchener, London, St Catharines and Niagara Falls have emerged as hot spots for millennials who seek quality jobs and affordable housing options close to family and friends. As a result, there is plenty to love about living in Ontario’s capital city. But there’s no shortage of things to improve upon—and we think you should consider buying a house outside downtown Toronto.
Why is Ontario’s Real Estate Sector So Hot Right Now?
In 2018, the average price of homes sold reached $500k across the GTA (Greater Golden Horseshoe), according to the Canadian National Bank House Price Index. While prices fell slightly during 2019, they’re still relatively high and well above historical averages.
And while the market is certainly booming, many experts believe we could see another wave of price increases in coming years. A recent report suggests that Ontario homeowners will spend almost $1 million dollars in 2020 to upgrade their current properties, which could lead them back into the red when selling again in 2025.
What does that mean for prospective buyers? If you decide that buying a home in Toronto isn’t really an ideal fit after all, you might be able to find better deals elsewhere, including in the region just south of Toronto and north of Lake Erie (like Brantford). Or even further away, like Ottawa.
If you do decide to buy a property outside of Toronto, consider these key factors first:
How Much Can You Afford?
This is probably the single most important factor to consider as you shop for houses.
When searching online, try using mortgage calculators (or apps like LendEDU and MortgageHero) to determine how much of a monthly payment you can realistically afford before committing to anything long term. You can use the calculator to figure out how big a downpayment you would need, how far you can stretch your payments over 25 or 30 years (assuming you pay extra principal each year), and whether the interest rate can actually cover your costs.
Do Your Research
Before making a final decision, check online forums and message boards for feedback from people who recently bought similar properties in your area. Ask questions like, Is the neighbourhood safe and attractive? Do I know anyone in the community already? Will I feel comfortable being around my neighbours every day? How close am I to schools, grocery stores, restaurants, parks, shopping areas, bus routes?
Is There Anything Special About My Property?
If you’d rather avoid buying a cookie cutter house in a generic neighbourhood, take note of special features. For instance, did you notice unique architectural details or interesting landscaping? Maybe you noticed something else about the place—like an unusual feature, special artwork, or historic building.
If you spot something cool, it might be worth adding a few thousand bucks onto the asking price. After all, it only makes sense...
- Why is Ontario's Real Estate Market Booming?
- Clarence-Rockland real estate market was strong last week with some buyers taking advantage of the hot spring real estate season. Some sellers had offers rejected due to lack of inventory but overall buyer demand remains solid. A few homes sold above asking price this past weekend making it another busy week for realtors. Homes listed during the first seven days of April increased 4% but decreased 3% after 7 days as buyers took advantage of the great deals still available. It will be interesting to see how these numbers change through May and June which will most certainly show some changes in interest rates, mortgage availability and seller motivation. We expect to continue seeing listings increase through mid summer but sales activity will remain steady unless the economy turns sour again like it did last winter. For those interested in a quick sale, now may be the ideal time to take action. However, remember the longer term trend is upward and you should consider holding until prices come down further. If prices decline substantially you could be able to get a good deal while waiting.
[IMAGE: Real Estate Price Chart]
Here some examples of houses selling in recent weeks.
Homes below $400K are considered starter properties and usually sell quickly. Prices in this range tend to appreciate faster than average because they represent prime locations in desirable neighborhoods. They typically command top dollar for sellers wanting immediate cash and/or move fast with multiple prospective buyers vying for them. These homes generally appeal to people who prefer smaller spaces, lower maintenance costs, less traffic and proximity to amenities.
Inventory levels remained high at 816 active MLS® properties for February according to REINVESTORS®, however this represents the lowest level since March 2009. Many listings were taken back and removed from the MLS® system after being vacant for many months or years. Inventory turnover slowed down significantly due to less housing supply. While some areas saw significant drops in inventory, other markets remained relatively stable in terms of inventory. Overall inventory continues to decrease each quarter while sales volumes steadily rise indicating continued affordability pressures in Toronto especially outside the core region. As the GTA becomes increasingly competitive for investors with rising rental yields across Greater Golden Horseshoe regions, there will only be fewer opportunities for sellers willing to accept reduced values for their property. Sellers should therefore be prepared to negotiate aggressively.
For those seeking something slightly larger and located closer to town centres, the market is becoming saturated with condos which offer greater flexibility options including studio apartments. Condo units under $1M are in higher demand and those priced $500k or more face competition from both foreign and domestic investor purchasers. Buyer enquiries remain brisk especially amongst international buyers looking for long term investments in Canada. There are currently very few condominium projects underway, although a handful of large scale developments are nearing completion including One Spadina Square ($890 million), Parklane on Bay Street ($500m+), Royal LePage Centre West Tower ($350 mil+) and Varsity Village at York University ($300mil).
We expect more development projects to materialize next year as builders try to find ways to meet increasing demands for residential space in the GTA.
[IMAGE: Average Listing Price Over Time]
Average listing price increased 0.6...
- New Construction Investment Opportunities in Clarence-Rockland Ontario
- Clarence-Rockland real estate market history shows us that there was a significant increase in sales activity during 2019, which saw prices rise across most areas of the region. However this was offset somewhat by an average decrease for single family homes during 2019.
In 2018, the region had seen some positive signs as well; however, the overall trend showed continued decline, especially in the single family housing sector. Single Family Housing Sales Activity declined significantly in both 2017 &2018, while Condo/Townhouse Sales increased slightly each year.
Condominium/townhome buyers were able to find properties at affordable prices throughout all price ranges, although they tended to be concentrated in the mid range. Prices remained stable for condos in 2019 but decreased slightly for townhomes. Average selling times ranged from 2 months in 2017-8 to 5-6 weeks in 2018-19, with an average sold price of $325k-$375k.
Single Family Homes were still experiencing declines in 2019 with sales activity declining in every area of the Region, excepting Rockwood-Westcliffe. Average Selling Time dropped again from 3–4 months, down to 1–2 months, and average sold prices fell to around $400k-$450k.
Average Listings ranged from $300K-$500K depending upon the neighbourhood, with the exception being Rockwood Westcliffe, where listings averaged just under $350K. Average Selling Times for single family houses ranged from 4–7 months, averaging between 5 and 7 months. Average Sold Price ranged between $360k-$550k, averaging at $435K.
Overall the Region experienced a steady decline in sales activity in 2019, as did prices in general. While we expect the market will continue to see fluctuations in activity, the longterm trends show no sign of improvement. We anticipate further decreases in prices through 2020, with further reductions possible beyond then. Average listing prices are anticipated to fall below $200k by late 2020, with a few neighbourhoods seeing prices drop below the $150k mark, especially in the mid range (from $350k to $500k) of the market.
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- Examining Real Estate Market History in Ontario
- In this edition, we go beyond traditional mortgage guidelines and delve deep into real estate investing opportunities that will help you become part owner in your next family home or condominium project in the Greater Toronto Area including Mississauga, Oakville, Brampton, Hamilton, Kitchener/Waterloo Region, Waterloo, Guelph, Cambridge, Markham, Vaughan, Richmond Hill & Woodbridge area as well as many other parts of Southern Ontario including Ottawa/Gatineau and Montreal suburbs along the Eastern Townships. Read More…
Instagram Posts: Instagram posts tagged ‘kimkardashian west world movies’. The tag contains no text but does contain links for each page mentioned in the post. Each link directs to another website containing content related to West World. Some of these pages include information regarding Kim Kardashian's upcoming movie franchise.
Twitter Post: A tweet posted March 31st 2020, which references WestWorld without mentioning anything else specific. Contains only URLs listed below. All linked-to websites appear unrelated to WestWorld and instead reference different TV series or films produced by Netflix.
Facebook Page: Facebook page "Kim Kardashian". The profile picture shows actress Margot Robbie standing behind Kardashian.
YouTube Channel: YouTube channel "Kanye_West" with 1 video featuring clips from West World, released September 21st 2019. The description tags refer visitors to content hosted elsewhere online; including articles written by Forbes staff writers referencing news coverage of the film, and pages referring to the film itself. Other videos uploaded to Kanye West's account feature music videos like Drake's 'God's Plan', Chance the Rapper, Future as well as short animated snippets of dialogue scenes. There is little connection between the video uploads and the original trailer of WestWorld. The upload schedule suggests a lack of coordination regarding content distribution among multiple accounts belonging to multiple people.
Snapchat Account: SnapChat username @kanyewestworld, previously associated with an earlier Snapchat release titled "#WestWorldTrailer", was active until May 20th 2019. Within the initial version of the release only a single image is shared with text indicating a forthcoming official announcement would be made through Twitter. As of July 2nd 2019, #WestWorldTrailer had been removed.
LinkedIn Profile: LinkedIn profile "Ye" listing his occupation as entrepreneur, CEO, producer, director, writer, actor, rapper, singer, songwriter, philanthropist, fashion designer, painter, musician, dancer, model, businessman and investor; with the latter being the most popular among connections.
Tumblr Accounts: Six Tumblr blogs sharing photographs of various items used during filming, featuring actors as props. Each item corresponds to a character depicted in the film. Four of those sites display a disclaimer stating they belong to Kim Kardahsian Westworld Movies LLC. Three blogs provide access to additional material posted to WestWorldMovie.org. Additional material includes a detailed synopsis of WestWorld, several interviews with cast members, WestWorld production still photos, a brief introduction to the show's characters, plot points, concept art images, promotional artwork, a timeline detailing development history,...
- Getting approved for your New Home Purchase in Clarence-Rockland, Ontario
- Buying real estate in Canada has become popular among investors seeking safe income investments. If you want something less risky than stocks, real estate may be just the place to park some cash until retirement rolls around.
In recent years, Canadians invested $9 billion dollars in single family homes across the country according to RE/MAX Canadian Realty Trends Report . While this figure represents only 1% of total sales volume, that still adds up to almost $900 million sold every single quarter! There hasn't been anything close to these numbers since 2006-2007 when Canadians spent nearly $2billion buying and selling properties! This massive increase was due largely to rising consumer confidence after the financial crisis hit.
If you're interested in investing property, whether through a private buyer like yourself, or via a mortgage backed securities program operated by government agencies, there's no shortage of options available today. For instance, Canada Mortgage & Housing Corporation offers fixed rate mortgages ranging from 3%-5% APR. They offer competitive rates which allow potential buyers to take advantage of historically cheap interest rates during a period of economic uncertainty. These loans come with various repayment terms but they typically range from 5 to 20 years depending upon loan amount and credit history. CMHC also provides insurance coverage against loss or damage to the house or building structure should unforeseen circumstances arise. Some other programs include guaranteed minimum returns (GMR), variable rate mortgages and non-repayable line of credits. All of them are relatively straight forward with little risk involved other than losing capital if the market crashes. However, each one requires varying degrees of expertise or experience, making them perfect complements towards diversifying property portfolios from many different angles.
When I first started researching real estate investment opportunities, I came across several websites offering similar content, most notably Zillow and Investopedia who both provide great information on various aspects of the business including costs, markets, trends, tax implications and more. My favourite resource, however, remains the Real Estate Investor Network website , a trusted community full of active members eager to exchange ideas and get together regularly for educational workshops and networking events. On top of being able to view current listings online as well as keep tabs on local prices paid by past homeowners, you'll find a forum section to connect with fellow members and post questions to receive instant replies. And while I'm sure everyone would love to earn passive income by renting out spare rooms instead of spending countless hours working outside of the comfort zone, having someone else handle tenant management duties isn't necessarily a bad thing either.
[IMAGE: Logo of Real Estate Investor Network Website ]
I've outlined above a few different ways to invest in affordable housing without needing to put down 100% of purchase price upfront nor risking any personal savings because you aren't paying rent monthly. But if you'd like additional help figuring out which direction to go, consider joining an association geared toward helping you achieve your specific goals; for example: investing via GIC programs offered through CMHC or buying rental houses through Landlord Plus Programs. Each organization offers benefits tailored specifically towards meeting your needs. When choosing an investor group, remember that size matters. Small groups usually consist of fewer individuals and offer limited services. Larger associations...
- What makes Xondo Ontario's Most Convenient New Condo/Home Buying Platform?
- New homes are great because they come pre-built with everything you'll ever need. From appliances and fixtures to flooring and paint colours. However, buying a new home isn't cheap. But, with Xondo's home builder tools, you can customize every aspect of your dream home and save hundreds of dollars.
Xondo offers many advantages over traditional real estate agents including saving time and hassle. Our online tool helps connect people who are interested in finding properties to buyers ready to buy today. We work together to find exactly what you're after whether it be single family detached houses, condos, townhomes, multi-family dwellings, commercial developments or anything else. Our team includes professionals like architects and interior designers to help you visualize the final product, which saves both parties time and energy during the search process. And, since Xondo matches buyers and sellers through technology instead of cold calling leads by hand, communication between both sides becomes effortless. Plus, you won't need to deal with multiple brokers either; we match clients with other qualified homebuyers so everyone knows what they want and the seller gets someone excited about listing their property.
We've made things easier than ever with Xondo's unique matching system. Whether you're looking for a house in Ontario or across Canada, we will match you up with another member just like you who wants to get moving now without worrying about having to wait days or weeks for showings to go live on MLS® systems. Simply enter information about your ideal residence such as price range, square footage requirements, proximity to amenities, schools, transportation links, lifestyle preferences, and more—and Xondo will instantly search local listings until it finds the perfect match.
When it does, we provide detailed info and photos and send you an email alert once a lead arrives. You can then follow up to see a virtual tour and view the details. If everything checks out, we move you along the path towards closing faster than ever — no matter what type of buyer you are. As soon as you make a purchase offer on a property, we notify your preferred agent, complete title searches so you never lose track of ownership, and coordinate settlement dates. When all your paperwork clears, we handle all the remaining arrangements while you sit back and enjoy the ride.
So whether you prefer to search for yourself or use our convenient guided approach, we guarantee to find you the perfect new home fast.
[IMAGE: Example House Plan]
[IMAGE: Example Floor Plans]
[IMAGE: Example Photos]
- How Xondo makes Home Buying & New Construction Investing in Clarence-Rockland Easy?
- XONDO makes buying real estate, whether it be residential or commercial, easier than ever. We offer a full suite of services designed to ensure success during every stage of the process. Our team will work closely with you to help identify, understand and overcome obstacles along the way. Whether you choose to buy online or in person through XONDO agents in Clarence-rockland, ON, you won't face unnecessary surprises and delays along the way.
[IMAGES: Xondo's logo]
We're dedicated to helping clients find exactly what they've always wanted in a place to call "home" -- without having to sacrifice quality, convenience or peace of mind. And while our website offers many options for viewing homes, buying them outright or leasing them long term (including online), nothing compares to visiting us in person, meeting your agent and seeing our inventory firsthand.
Whether you prefer to shop around yourself or use professional assistance, you'll get great service every step of the way. And because our team is committed to ensuring you enjoy great experiences and a hassle-free transaction every time, we offer a wide range of benefits including: no upfront fees; free title insurance; a dedicated customer care representative ready to assist throughout each phase of the purchase/sale process; and more... Read More
- How To Make Money On a New Home or Condo Purchases in Clarence-Rockland, Ontario
- Clarence-Rockland’s real estate market continues to be a hotbed for investors interested in buying condos and homes. If this interest hasn’t already peaked, it will soon reach fever pitch. We expect prices to continue to rise due to increasing demand and an increasingly competitive marketplace. This year, new listings surpassed sales by almost 20% making us confident that 2018 was just the first step toward further price increases for 2019.
We recommend keeping an eye on the following key indicators as they relate to your purchase decision:
Demand / Supply Risks
Property Types You Want to Purchase
We’ll use these factors to help answer some questions you should ask yourself before deciding whether or not you should invest in a new property purchase.
How Much Should I Spend?
Should my mortgage exceed 50% of my gross annual income?
Will I be able to afford this amount each month without difficulty?
If yes, then great! But remember that if you plan to live elsewhere while owning the property, then a higher percentage could work better for you. For example, someone who lives in Toronto but wants to buy a house outside of Toronto would generally prefer paying less than 50% of their monthly income towards their mortgage rather than spending close to 100%.
Where Will My Mortgage Go?
What happens to the value of the property after the down payment is paid back? Is it possible that the down payment exceeds 30%, 50% or 75% of a $500k home?
Is There A Risk Of Defaulting Or Not Repaying Your Debt?
Are there other financial obligations tied to this debt, like credit cards?
Do You Have Enough Time To Save Up And Be Ready For Costs Like HOA Fees, Taxes & Maintenance?
Does the area surrounding the property offer good schools, recreational opportunities, parks, shopping centres, transit services, etc.?
Can you find cheaper rents nearby?
In many cases, the answers to all of these questions point in the same direction — you probably shouldn’t pay full price for your desired property unless you have enough savings to cover costs until you sell.
But, in general terms, you should be prepared to spend 10%-30% above the asking price because:
The average selling price in Clarence Rockland is roughly $1 million which puts buyers in the red around 15%-18% of their total investment.
A few months prior to closing, you may encounter unexpected expenses related to moving, decorating, renovations and maintenance. You won’t get any cashback for those costs since they occur after your contract has closed.
Buying a newly built high end property in Clarence rockland is a big deal, and we advise taking advantage of every available opportunity to save money. This includes:
Negotiating lower offers;
Hiring contractors through online job boards instead of going straight to the developer;
Purchasing materials from suppliers with bulk discounts;
Getting pre-construction estimates and bids to ensure a fair estimate.
As always, consult with an experienced broker who specializes in the type of properties you desire before putting pen to paper or hammer to brick. They are well versed in negotiating...