Decide what you want to buy

First decide where you want to liveUrban
Ahh, the big city. Sure the prices are generally higher, but you can walk to a restaurant, maybe even to work. You’ll also have the widest range of housing options.
Suburban
Newer schools, newer shopping centres, bigger yards, bigger homes, no wonder so many people love the suburbs.
Smaller Cities and Towns
Canada is dotted with thousands of wonderful self-contained communities, and compared to the big city, you can save a bundle.
Rural
If you like the idea of owning land, how about a few acres all to yourself? Seclusion is not for everybody, but for some, it’s heaven
Next, decide what type of home you want

By now, you probably have a good idea of what type of home is right for you. To familiarize you with the terminology, here’s a quick overview:

Single-family detached
As the name implies, the home is not attached to the home next door. Styles range from a single-story suburban bungalow, to a three-story Victorian.
Semi-detached or linked
Two houses that share a common wall. Usually less money than a fully detached home.
Duplex
A building zoned for two families.
Town house
Also known as terrace or row housing. Several homes with a common style and joined in a row. They usually share walls on both sides.
The Condo Alternative

Some people can’t wait to start gardening on Sunday morning. If you are not one of those people, it can be just an elevator ride away.

How Condos are owned
You’ll own 100% of your unit, and a share of the common areas. Common areas include the necessary plumbing, electrical systems, hallways and elevators. They may also include lots of fun stuff like a private gym or party room.

Are things looking up?

A report this week from TD Economics says “no.” The inventories of new condos, while significant, are not as bad as one might think, nor is the impact the recession is having on the economy of the Toronto area. The market is certainly caught up in the downturn, but the kind of underlying circumstances that have caused all-out meltdowns in U.S. cities do not exists here, it says. Toronto’s condo market is in the midst of a “cyclical downturn rather than a drawn out structural downturn,” it states.There are, in fact, some rather encouraging signs in the condo market, says the report’s author, TD economist Pascal Gauthier. In the first quarter of this year, sales appeared to be firming up and while they will likely remain quite low this year compared to levels seen during the recent boom years, the numbers are “pretty decent . . . given how strong the economic headwinds are,” he says. The fact that the Bank of Canada has brought mortgage rates to the lowest level possible will also help soften the cycle, he
adds. Then there are the overall economic conditions in Toronto. While job loses have been heavy across Ontario, Toronto has been relatively unscathed. Employment in Hogtown is down less than one per cent, compared to a six per cent drop during the recession in the ’90s. It all bodes well for the city’s condo market.

While there might appear to be a glut of new units on the market, the levels are not yet overly worrisome, says Gauthier. In the mid 1980s builders kept adding new condo units for three years, seemingly out of touch to changing market conditions. The number of condos built between 1987 and 1989 was the equivalent, in today’s terms (taking into account population and household growth), to 81,000 units. That’s compared to about 35,000 between 2007 and 2008, notes the report. “It became more than a cyclical problem, it became a structural problem,” says Gauthier. That does not appear to be happening this time around. Builders, he notes, have been scaling back.

But there are still risks ahead, especially if that trend of slowing starts doesn’t stick, and builders pump out condo units faster than the market can handle in coming months. At that point, says Gauthier, it will be “time to raise the red flag.”

How to get your home sold quickly!!!

Every Seller wants to get there home sold quickly! You want to make your home irrestiable

A well-staged home creates a vision of a beautiful life, So the picture has to be a happy one — clean, uncluttered and tranquil.Making small adjustments in furnishings and presentation can determine how quickly your house will sell and for how much.

To create this “Buy Me Feel” here are some tips you can follow:

- Hide pet toys and pet litter boxes

- Heat an apple pie in the oven. Studies show that the smell of baked goods makes people nostalgic for childhood

- Light candles in every room this creates an ambiance

- Put away tolietries such as medications, toothbrushes,hair brushes etc

- Remove a piece of furniture to create the look of more space

- Empty closets and make them organized,Box out of season clothing

- In the kitchen clear small appliances on the counter, try to clean them up as much as possible. This will reveal a clean working space

- Put a fruit bowl out. “In feng shui, the kitchen symbolizes prosperity, a bowl of fresh fruit in the kitchen sends a subliminal message that the buyer’s life will be both bountiful and abundant

Condo Buying Tips!!!

When buying a condominium whether its your first time or not there are some things you really should consider to assure your making a good buying decision.

1. Try to choose a nice exposure, looking into another building is not the greatest re-sale selling feature.

2. Don’t have a car but the condo comes with a parking spot? Rent it out and earn an extra little income.

3.Avoid units that overlook the garbage area, its tends to smell in the summer and can be very noisy

4. Try to purhcase the largest suite you can afford, studios and small one bedrooms are sometimes hard to sell

5. Keep a mental note of the conditions and aroma’s of the hallways, lobby and common areas

6. Try to visit the suites twice before you put in an offer, make sure you get that feeling when you walk in!

Get in contact with an agent, and keep these pointers in mind when your out looking at properties. You also have to look at the potential re-sale aspect when out searching because the reality is you will not live there forever! its a stepping stone to bigger better things.

Off The Cuff

Many of you may remember awhile back that I urged you to go out and purchase your First home and not to wait any longer. As I stated interest rates were as low as they could possibly go and prices had frozen.
What happened? Well as is common with the human species you waited for something to happen and happen it did. Interest rates started to edge up and with interest rates at a higher level fear set in. The general public is now on a buying frenzy multiple offers are now common place in the City of Toronto .
There are now more buyers and fewer choice homes on the market.
What should you do?
Simple contact your mycondonetwork.com specialist and let them do the work and put your mind at ease.
With mortgage specialists , legal specialist and sales pros with a total of over 60 years of experience .
Mycondonetwork.com pros are bar none then chosen professionals