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Maximize Your Home’s ROI with These Renovations

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Real eState

Maximize Your Home’s ROI with These Renovations

Published

5 months ago

 on

August 15, 2020

By

Harry Miller
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Home renovation is a billion-dollar industry in Canada. Homeowners will often make inquiries into renovations in order to maximize the return on their investment, whether they’re looking to sell right away or they plan on enjoying the renovations for many years.

We’re breaking down the most effective home improvement projects and tips for financing them.

First Impressions Matter

Before you lay out plans for the interior of your home, have you done an overview on its exterior? Afterall, if you’re looking to eventually sell your home it’s the first thing potential buyers will notice before they even step foot inside. Exterior renovations tend to have the highest return, according to the chief editor of Canadian graphic design agency JLC Group. A freshly painted door and a well-maintained lawn can do wonders for the overall aesthetic of your home and are easily doable without a high price tag.

Give the Kitchen a Facelift

Kitchen renovations can feel like a daunting experience; however, there are basic renovations that can drastically alter the space without the need to fully gut and rebuild. The kitchen is often seen as the centrepiece of the home, where most entertaining takes place. A few coats of paint to the cabinets, updating the light fixtures, and replacing cabinet handles can give the space the update it needs without breaking the bank.

However, if you can invest into a full remodel, working with contractors and interior designers can benefit your future return, so long as the colours and materials flow with the rest of the home and are neutral enough to appeal to potential buyers if you plan to sell.

A Finished Basement is a Money Maker

Maximizing space in a home will ultimately lead to a maximized return. Adding livable space offers current owners and potential buyers a wealth of possibility. If it’s feasible, renovating this space to include a kitchen and bathroom can turn the basement into a rental property.

Investing in these changes allows homeowners the freedom to use the space however it works best for their family. It may be one of the more costly renovations to your home but if you plan on turning it into a rental, it can raise your home’s value by ten per cent. Additionally, a rental suite can help alleviate a portion of your mortgage payments.

Financing: Tips & Tricks

If you’re working on cosmetic changes that don’t require a hefty budget, consider financing the project yourself using savings or a credit card — as long as you can pay off the balance without encountering interest. Additionally, personal loans are available and typically have lower interest rates than credit cards.

If you’re in need of a short-term solution, there are payday loans available, offering more flexible lending options. If you need to borrow cash online in Canada, these alternative avenues serve as temporary relief should you find yourself struggling with cash flow, and can be especially helpful if obtaining a line of credit or other traditional funding proves impossible.

You’ll know you’ve found the right lender when they’re able to provide efficient service without the hassle of red tape often found with traditional lenders. With only basic information needed, primarily banking information and employment history, you have the option to settle your financial headaches. Depending on the renovations you’ve chosen, there are often multiple financing options available.

If you plan on tackling a major renovation or ongoing projects, a line of credit allows you to access the money as needed and you’d only pay interest on the amount you’ve spent. These loans offer low interest rates and the possibility of re-borrowing without reapplying.

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Real eState

Atlantic Canada real estate closes out 2020 with strong performance – Mortgage Broker News

Published

2 mins ago

 on

January 25, 2021

By

Megan Johnson



Atlantic Canada real estate closes out 2020 with strong performance

Despite its tradition of being home to some of the nation’s quieter real estate markets, Atlantic Canada generally followed the trends set by the Canadian housing sector, both in December and for the whole of 2020.

Latest numbers from the Canadian Real Estate Association indicated that on the national level, home sales saw a 12.6% annual increase, reaching a total of 551,392 transactions throughout 2020. The actual (not seasonally adjusted) national average home price was at $607,280 in December, representing a 17.1% year over year gain.

Newfoundland and Labrador

Home sales completed through Newfoundland’s MLS System totalled 4,684 units over the course of 2020, up by 14.7% annually and falling short of the record set in 2008 by less than 30 sales. A significant 54.4% annual surge in December helped propel the market.

Active residential listings declined by 21.1% annually, while the benchmark price for single-family homes rose by 6.5% year over year to $284,800. The benchmark price for townhouse/row units ticked up by 2.4% to $260,900, while the benchmark for apartments fell by 3.7% annually to $226,000.

New Brunswick

New Brunswick’s market saw a total of 9,963 homes sold from January to November 2020 (December data was not publicly available at time of writing), increasing by 11.2% annually.

“With one month still to be counted in 2020, MLS home sales in New Brunswick have already surpassed 2019’s full year totals by more than 500 units,” according to the province’s real estate association.

The average price of homes sold in November grew by 11.8% year over year to $203,907, while new listings went up by 8.3%. In contrast, active residential listings dropped by 37.8% to 2,895 units as of the end of November, levels not seen since 2001.

Nova Scotia

As reported by the Nova Scotia Association of Realtors, sales activity intensified by 13% annually, rising to a total of 13,923 transactions over the course of 2020, the highest level ever recorded in the province.

The annual average sale price, $291,224, was 13.8% higher than in 2019. New listings increased by 25.3% year over year, while active residential listings slid by 38.9%, hitting 2,676 units for sale as of the end of December.

Prince Edward Island

The number of homes sold through the MLS System of the PEI Real Estate Association totalled 1,972 units over the first 11 months of 2020 (PEI’s December data was also unavailable at time of writing), up 8.8% year over year.

The average price of homes sold in November grew by 21.2% annually to reach a new record high of $309,031. This marked the first time that the average sales price in PEI exceeded the $300,000 mark.

New listings had a 27.4% annual gain, while active residential listings as of the end of November were down 29.6% year over year, a level not seen since 2004.

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Real eState

Best Real Estate Investment App For US Investors To Manage Assets Launched – GlobeNewswire

Published

2 hours ago

 on

January 25, 2021

By

Megan Johnson



Cupertino, United States, Jan. 25, 2021 (GLOBE NEWSWIRE) —

BetterCapital.US has announced the launch of its latest real-estate investment app. The new app is designed to provide an easy-to-use platform for real estate investors to help them better manage and track their assets and find opportunities to maximize their capital from one dashboard.

More information is available at https://www.bettercapital.us

The newly launched real estate investment platform aims to eliminate the hassles and bottlenecks associated with managing a real estate portfolio. Many retail real estate investors face a wide range of challenges regarding tracking their investment performance and getting accurate, up-to-date information about market trends.

BetterCapital has launched its latest investment platform for real estate investors to help simplify the asset management process. The app features a real-time market trend update that allows users to receive up to date market news to help them make informed decisions.

The BetterCapital real estate investment app has an asset tracking feature that enables users to conveniently track important information, including rents, invoices, payments, equity, ROI, and more.

In addition, the app features Deep Dive sessions, an innovative training course that teaches users how to become financially independent and retire early. The Deep Dive sessions are also an opportunity for investors to learn from industry experts.

The Deep Dive sessions, in addition, offer users a chance to learn more about the various investment opportunities available on the platform. BetterCapital’s partners utilize the Deep Dive sessions to explain further what their business is about, ensuring users are well-informed before investing with them.

Other benefits users can get from the app include the chance to maximize their investment performance. Investors are introduced to a wide range of cash flow real estate-focused investments other than rentals, including syndication, flip, private money lending, among others, to help them grow their capital.

The company states: “The BetterCapital.US is a real estate investment app that was built by and for real estate investors who wants a better way to manage their assets, keep up-to-date with market trends and find ways to maximize their capital.”

Interested real estate investors can find more details by visiting the website mentioned above.

Contact Info:
Name: Ram Vaidyanathan
Email: Send Email
Organization: BetterCapital.us
Address: 6652 Clifford Ct, Cupertino, California 95014, United States
Website: https://bettercapital.us

Name: Ram Vaidyanathan
Organization: BetterCapital.us
Address: 6652 Clifford Ct, Cupertino, California 95014, United States

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Real eState

2021 Could See the Tightest Muskoka Real Estate Market in Years – Toronto Storeys

Published

7 hours ago

 on

January 24, 2021

By

Megan Johnson


“We had a [property on a] small — tiny — spring-fed lake in Muskoka, where the list-price was $599,000, and it sold in two days for $875,000,” says Ross Halloran of Sotheby’s International Realty, reflecting on the first few weeks of the year.

That’s $276,000 over list price for a two bedroom, one bathroom, “teardown” cottage. Welcome to the current Muskoka real estate market in 2021.

Closing the year on-trend with what the last several months presented, the region’s real estate scene saw record-breaking sales in both its residential non-waterfront and waterfront property categories in December.

And looking forward, Halloran — alongside Maryrose Coleman, also of Sotheby’s International — doesn’t anticipate a decline in buyers’ desires to snag space in Muskoka.

READ: Muskoka Real Estate Closes Out Year with Record-Breaking Activity

What the pair does foresee, however, is supply struggling to keep up with demand.

A Market as Tight as Ever

“I never like to let my listing inventory drop below 30,” Halloran says. “We’re now at seven.”

Coleman reinforces the sentiment, stressing the issue their team continues to face is supply. At the present moment (and for months leading up to the present moment, too) demand is holding its own.

“It’s a really tight market,” Coleman says. “There’s very little available. And there are a ton of buyers out there trying to find the right property.”

In fact, Halloran goes so far as to call the current situation “a bit of a quandary.” Typically, considering cottage country as a whole — from Parry Sound to Lake Simcoe, and down to Bancroft, inclusive of Muskoka, the Kawarthas, Haliburton, and the like — he and Coleman will see about 100 new listings in a given week.

Lately, though, Halloran says they’re seeing far fewer hit the market.

“It was 13 listings last week… as we end this week, 22 new listings have come up,” he says. “We’ve got a stockpile of buyers, because we had so many listings we were able to engage and begin discussions with a number of buyers that had begun their journey… we’ve got what we would normally have in property inventory in buyer briefs.”

In other words, the numbers have essentially reversed themselves, leaving this Sotheby’s team spread thin.

As a result, Halloran and Coleman say they’ve needed to develop new policies for navigating working relationships with buyers. With so many people requesting their time, asking for research to be done on prospective properties, they’ve found themselves going through that whole processes only to find out — as they’re preparing to move forward with an offer — they’re actually in a multi-offer situation.

And let’s be clear: this mad dash for cottage country real estate isn’t just for multi-million dollar, move-in ready properties (though, of course, those are always a sought-after treat). Coleman says that there are “a whole bunch of people” who are looking for tear-downs or lots they’ll be able to build on, and typically, these buyers are hoping to snag spaces like this at prices much lower than those of move-in ready lake houses.

“Part of the challenge is, there are a lot of people who are very specific about what they want,” Coleman explains. “They want to be close to Port Carling, but not right in Port Carling. They want to be on Lake Rosseau or Lake [Joseph], they don’t want to be on any other lake. They need privacy, they want a boathouse.”

If these desires sound familiar, don’t fret. But also, don’t start packing up your boxes just yet.

“There are only so many properties like that,” Coleman says, “but there are a great number of people looking for them.”

Halloran says that, as such, they’re working to do whatever they can to obtain listings as spring approaches. “You are a function of how many listings you have,” he stresses.

Owners Holding On Tight

Halloran says that going forward, he expects a sellers’ market for the foreseeable future. In order to be able to participate in the year ahead, attaining more product is necessary.

“Usually in the spring — come the beginning of March — we’re usually seeing an average of 200 new listings a week leading up to the Spring Cottage Life Show. Then there’s a drop-off, after the Spring Cottage Life Show, and then probably by late-April we’re back up to 200. I think by the time the end of May rolls around … I’d see about 300 listings [across all of cottage country].”

But right now, the region is seeing about 22 listings per week, on average, while days-on-market stats are dropping and sale-to-list averages are increasing. In fact, at the moment, the Lakelands region is looking at less than 0.6 months of inventory — a record low.

As a result of all these changes, Halloran says he expects to see both individual agents and teams alike presenting with less than half their normal inventory. His personal goal? Attaining between 20 and 30 listings before spring hits.

“We’ve got a lot of work to do over the winter,” he says.

But, with ongoing queries, listing proposals, market analyses, direct correspondence, and new product continually being added, it’s safe to say the team has already hit the ground running.

Still, it’ll be “a grind” to get ahold of sustainable inventory, because people are hanging onto their properties… or perhaps they’ve just recently acquired them, and they’re still just settling in! Never mind considering leaving. After all, the last year has proven a flexibility in day-to-day navigation that many may not have considered before, which, in many cases — with consideration to working from home and online schooling — means more room for cottage country to fit in. Whether someone’s long been in the region or only just arrived, it’s understandable that Muskoka living is an experience any owner would want to hold onto.

“[What] the people that own are telling us now is: ‘Sure, I can make a huge profit, but how am I going to be able to buy back in?’” Halloran reports. “‘I may as well just sit tight for now and enjoy what I have… or renovate what I have.’”

Selling your property suddenly becomes less appealing when there’s nothing else left to buy.

Renting as an Impermanent (but Still Competitive) Option

Meanwhile, those struggling to find their perfect property in the resale market — or those simply looking for a less permanent cottage country experience — tend to turn to the region’s rental market. But Coleman, who captains Muskoka District Rentals alongside her Sotheby’s role, says the sector is facing similar supply-and-demand struggles.

“There are a lot of people who aren’t renting who traditionally have rented, when they’ve gone on European vacations [and the like],” she explains. “They might have done the summer — they would rent their cottage for the two, three, four weeks they were going to be away. And that’s not happening now.”

While Coleman says there have been some recent buyers who are open to renting, there have also been properties that used to be on the rental market that have now been sold. In essence, the newly-purchased properties will merely replace those prior rentals, instead of adding to them.

There are also places that may typically be in the rental sphere, but because their owners are currently living or working there, those spots aren’t available these days. What’s more, an air of uncertainty hangs over the summer, leaving cottage-owners unsure of how they’re going to navigate 2021’s warm months. So many unknowns linger, including whether summer camps will be closed or if international travel will be permitted.

Many people who felt the pinch of these scenarios last summer, and who didn’t have a rental option, learned from the experience and booked early. In August and September of 2020, eager summer-lovers reserved their rentals to ensure they’d have something to look forward to when the warmth rolled back around.

Now, Coleman says, others are scrambling, trying to find their own place to stay.

And sure, someone really hankering for a summertime escape could hop on any given rental site to book, but what Muskoka District Rentals offers is different.

“Part of the reason people like to work with a company like ours,” Coleman says, “is they know they’ll get a higher quality of cottage, and they’re going to have available to service them, if anything goes wrong.”

Also, there’s a benefit to the relationships that are built through use of a reliable, human-centred service such as MDR. For example, if someone isn’t able to find a rental option online, a phone call with a listing agent may result in them learning that in just a couple days, the perfect property will be going live.

Ultimately, it’s looking like Muskoka’s wild ride isn’t slowing down anytime soon, regardless of whether the topic of focus is resale or rental. And, if the region’s market has reinforced any universal truth over the last several months, it’s that the more people can’t have a thing, the more they seem to want it.

But another universal truth is this: anything worth having is worth fighting for.

If you’re gunning for a place with a Lake Jo view, or one that’s perfectly poised just minutes from Port Carling, we suggest the latter mantra as the one to keep in mind.

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