5 Tips For Making Money in the Canadian Real Estate Market

Real eState

5 Tips For Making Money in the Canadian Real Estate Market

Published

7 months ago

November 6, 2022

The Canadian real estate market is one of the best in the world, and it’s getting even better. According to a report by Realtor.ca, sales volume jumped by nearly 10% in 2018 as prices continued their upward trend. If you want to learn more about how you can get involved in this lucrative industry and make money doing so, read on!

1. Evaluate Your Current Financial Situation

The first step in making money in the Canadian real estate market is to evaluate your current financial situation. You need to know:

Your net worth (the value of all your assets minus all of your liabilities)
Your income
Your expenses, including monthly bills and other non-mortgage debt repayments obligations such as credit cards and student loans
Your credit score, which measures how likely it is that you will repay debts on time or at all

2. Make Tough Decisions and Take Some Risks

Make Tough Decisions and Take Some Risks

It’s important to think about the risks and rewards of any decision you make. This can be especially true in real estate investing, where there are many different factors that could affect your success or failure over time. For example:

Do I have enough money? If not, this may mean that it would be wise for me not to invest in real estate at all because I don’t have enough cash flow coming in each month (or even year). On the other hand, if I do have enough money (and/or credit), then perhaps investing would make sense because it offers more opportunity than simply saving up cash on my own dime!
Where will my initial investment go? Will it be placed into a property with potential returns like rental income or home value appreciation? Or will it go toward something else—like student loans or medical bills—that will benefit from having an owner who lives nearby?

3. Do Your Research Before Getting Involved

Do Your Research Before Getting Involved

Before you get involved, make sure that you understand the market and area in which your property is located. You should also learn about other investors, realtors, and lenders who work in your region and have a good understanding of what’s going on there. This will help ensure that you are choosing an investment property that has the potential for success rather than one where the price may be too high or too low based on other factors such as location or quality of construction materials used during construction (or lack thereof).

You should also do some research into different types of properties available within your target neighborhood so that when it comes time for negotiations with sellers/buyers over pricing terms etc., you’ll already know what questions need answering first before proceeding further down this path towards closing deals with either party involved.”

4. Get the Help of a Realtor

A real estate agent can help you find the right property, get financing for it, and close on it. They’ll also help you sell your home when the time comes.

If you’re looking for a real estate agent in Vancouver or any other city in Canada, here are some tips:

Ask around – Some agents have more experience than others and may charge less than others as well. You should talk with friends who have used different agents to see what kind of results each one has given them so that when choosing one yourself you know what kind of person they are before signing anything up with them.* Research online – There are many websites out there where people post reviews about their experiences working with various agents so it helps if these reviews seem credible enough before deciding which agency might be right for you.* Make sure they have insurance – This isn’t just important because they’ll take care of your belongings while they’re gone but also because having insurance protection means that if something bad happens while they’re gone (like someone breaks into) then at least part of the responsibility falls onto them instead of just being thrown onto whoever else happened upon same incident; which could mean higher costs down the road

5. Remain Patient Through the Process

You may have heard that buying a house is the most expensive thing you’ll ever do. But it’s also probably one of the best investments you can make in your lifetime, especially if you are young and starting out on your career path.

When it comes to making money through real estate, there are many factors that go into buying a property: location (how close is it to work? What kind of commute will I have?), size (I need three bedrooms or more), construction type (I want brick or vinyl siding), and so on. However, one thing remains constant: patience! It takes time for people – even experienced realtors – to sell properties at their full price range. You need patience if you want something worthwhile out of this investment opportunity because there will be ups and downs along the way before everything gets figured out eventually!

Investing in real estate is a great way to make money!

Real estate is a tangible asset, which means you can see it and touch it. It’s also safe because it doesn’t fluctuate with the stock market or other financial instruments like stocks or bonds. This makes real estate an ideal investment for long-term growth as well as short-term cash flow needs. You can also use your equity in your house to finance renovations or even buy another property if you need some extra space quickly (or sell off one of your properties if you want to move).

Real estate has been known as one of the best investments over time because it tends to appreciate faster than other assets like stocks or bonds, so there’s more potential upside if everything goes according out plan – especially when compared against other types of investments like mutual funds where returns depend on what index funds do each year; whereas stock prices don’t always reflect reality based on supply/demand factors affecting demand within certain industries.”

Conclusion

We hope these tips will help you get started on your path to success in the real estate market. Remember, there are many different ways to make money from real estate and this is just one of them! If you follow these steps and make smart decisions along the way, then you should have no problem finding success in this field. Good luck!

Real eState

Surreal Estate: $28 million for a humongous North York mansion off Bayview with a 40-seat home theatre – Toronto Life

Published

42 mins ago

June 9, 2023

Harry Miller

Neighbourhood: Silver Hills
Price: $28,800,000
Size: 21,000 square feet
Bedrooms: 5
Bathrooms: 11
Parking spots: 12
Agent: Barry Cohen

The place

A massive Silver Hills estate on Old Colony Road (a short walk from Bayview), with its own cellular antenna and underground filtration system. Nestled on a one-acre lot surrounded by greenery, this fortress—designed for a wealthy buyer who loves both entertaining and privacy—has so far piqued the interest of business moguls, celebrities and members of the Toronto Raptors. The mansion is loaded with over-the-top amenities: a family room the size of a dance hall, a Cineplex-grade home theatre, a 360-degree camera system, built-in face-recognition technology and voice-activated locks. In total, the place has over 15 kilometres of wiring within its walls.

The history

Architect and designer Lisa McCann considers this state-of-the-art marvel her magnum opus. She spent the past six and a half years on the project, collaborating with her husband, Michael McCann, as well as more than 100 tradespeople. “I didn’t want this to be a subdivision on steroids,” she says. “I wanted to bring as much functionality as possible so that residents would never want to leave.”

The tour

Mature trees help camouflage the brick fortress in the summer, making it barely visible from the street.

A four-inch-thick front door intersects an elegant stone wall.

The foyer gives way to this Gatsby-like living room. The floor is limestone, and the outlets are painted custom off-white to hide even the smallest imperfections.

Moving through the space reveals the voice-activated fireplace, which can be turned on from any room. Modernist floor-to-ceiling windows lead to the side-yard tennis court.

The tennis court has an adjacent patio.

The family room’s south wing is really a 20-foot atrium, equipped with a wall-to-wall walk-out to the sprawling backyard.

Here’s a view of the atrium from the landing above. The McCanns say it’s ideal for a library or meditation space.

Next to the atrium on the main floor is the kitchen, which features rows of Lutron pot lights, laminate white cabinets and funky fluorescent counters. The glowing island anchors the room.

The main-floor bathroom comes with a ceiling grid light and dual powder stations with Boffi faucets sourced from Italy.

The glass-and-oak staircase serves as the home’s spine, contrasting with the rustic stone wall.

Upstairs, there are multiple walk-outs to the 72-foot wrap-around balcony.

Lisa’s favourite room on the second floor is what she calls the Frank Lloyd Wright office, inspired by the architect’s love of looking out at nature while working from his desk.

Down the hall are the two main bathrooms. First, the man cave: a grout-less porcelain wonder with a glass shower and a nine-foot vanity featuring Versace detailing.

And here’s its feminine counterpart, with a soaker tub, tons of storage and veined marble everywhere.

Here’s one of the house’s five bedrooms, each large enough to fit a king-sized bed, an entertainment unit and an office.

The main bedroom features a huge oak cloakroom with bespoke cabinets.

The wine room is something you’d expect to find in a Yorkville restaurant, built with help from Halpern Enterprises. Naturally, it fits 1,000 bottles.

Behold: the basement bathroom, with heated porcelain floors, a quartz vanity and black-and-grey mosaic tiles.

Finally, the showstopper—an 8K Cineplex-grade theatre with a 177-inch screen, surround sound, a space-themed ceiling and capacity for 40 people.

Have a home that’s about to hit the market? Send your property to [email protected].

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Better.com lays off real estate team and shutters business unit – TechCrunch

Published

4 hours ago

June 9, 2023

Harry Miller

Digital mortgage lender Better.com is exiting the real estate business.

The struggling fintech startup laid off its real estate team on June 7, multiple sources confirmed to TechCrunch. The company is said to be shifting from an in-house agent model to a partnership agent model.

One person who was impacted by the move told TechCrunch that the agents had received “little to no severance…after getting a more than 50% salary cut in November in order to ‘ensure’ our jobs to come.”

TechCrunch reached out to Better.com, which declined to comment on the record. It is not clear how many people were impacted.

The news is not shocking considering that rumors of Better.com’s plans to exit the real estate business have swirled for some time as the housing market has experienced a major slowdown driven by rising mortgage interest rates. As early as April of 2022, TechCrunch reported that it was suspected that all of Better Real Estate could be scrapped. The unit was at one time the “baby” of the company, sources said, and where a big chunk of investment dollars were going to go toward in 2022.

Better had been vocal about its desire to build out its purchase experience and move beyond digital lending to help people find and purchase homes — hence changing its name from Better Mortgage to just Better. It was also working to expand value-added offerings like title and homeowner’s insurance as part of its product suite.

“They wanted to touch every part of home ownership,” a source close to the company who preferred to remain anonymous told TechCrunch at the time. “The company invested resources in building out consumer experiences and agent-facing tools for the Better Real Estate business, including its first native mobile app, not all of which came to fruition, given the trajectory of the business.”

Better Real Estate aimed to be competitive with the likes of Zillow and Redfin, and the company had reportedly followed the same salaried-agent model.

Better.com has been making headlines for its layoffs since it first gained notoriety by laying off about 900 employees over Zoom on December 1, 2021. It has since been laying off smaller groups very systematically, say sources. Last August, TechCrunch also reported the fact that Better.com had conducted its fourth round of layoffs since the previous December.

The company is not exactly known for its tactful approach to letting employees go. In less than a nine-month period, it let go of thousands of workers, saw numerous senior executives step down and delayed a SPAC that it still claims to be working toward.

In March, TechCrunch reported Better.com’s SPAC deal with Aurora Acquisition Corp. got a new lease on life, extending its timeframe to close the transaction through the end of Q3 2023.

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Got a news tip or inside information about a topic we covered? We’d love to hear from you. You can reach me at maryann@techcrunch.com. Or you can drop us a note at tips@techcrunch.com. Happy to respect anonymity requests.

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Co-ownership deal struck for large heritage home

Published

13 hours ago

June 9, 2023

Anne Joseph

2223 E. 11th Ave., Vancouver

Asking price: $2,149,000 million (March 6, 2023)

Selling price: $2,099,900 (March 9, 2023)

Days on market: 3

Taxes: $7,080.82 (2022)

Listing agent: Connie Buna, Keller Williams Realty

Buyer’s agent: Noam Dolgin, Heller Murch Realty

What they got

The 2,867-square-foot house has four bedrooms on the main floor and upper floor, and two bathrooms.Keller Williams Realty

This heritage house built in 1912 is in the desirable Grandview-Woodland neighbourhood on Vancouver’s east side, within walking distance to Trout Lake and schools.

The 2,867-square-foot house is situated on a standard 33- by 122-foot lot, with four bedrooms on the main floor and upper floor, and two bathrooms. There’s a legal two-bedroom suite in the basement, as well as a mature garden.

The action

One couple will live in the basement and half of the main floor, and the other will live on the third level and the other half of the main floor.Keller Williams Realty

The purchasers were two couples that entered into a 50/50 co-ownership agreement with a shared mortgage. One couple will live in the basement and half of the main floor, and the other will live on the third level and the other half of the main floor, says realtor Noam Dolgin, who specializes in co-ownership deals.

“They are taking this large heritage house in a great location and turning it into two solid livable suites, and taking advantage of that to bring their price point down instead of paying $1,100 per square foot for half a duplex or a townhouse,” Mr. Dolgin says.

The agent’s take

Mr. Dolgin said the couples met while attending one of his East Vancouver co-ownership property tours. He said the majority of his business is bringing like-minded buyers together to purchase houses and divide them, but with shared yard space. It’s the equivalent of strata ownership, but without the added cost.

“They connected, the timing was right. They wanted the same location, the budgets were similar,” he says. “There was some negotiation around the price.”

The sale completed May 31.

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