Toronto Sweet Home

Thinking Of Buying a New Home

2010-05-07T10:44:00.007-04:00

Buying a Home is an important personal decision and a big financial investment. You want to find the home that's right for you and your family and the builder who provides the best value and service. Here are some tips to help make the buying process enjoyable and successful.

Choose a realtor
If you are planning to purchase a home, you will be faced with many decisions. What comes first buying the next home or selling your present home? What is your price range? What will be the location, size and style of your next home?

Before getting the answers to these questions,choose a Realtor to help you get through the maze of forms and give you the direction needed to successfully complete your real estate transactions?

Do Your Research
Know what you want, what's available and how the buying process works before you start thinking seriously about signing a contract. Browse through newspapers and magazines. Consult with family, friends and co-workers. Attend a seminar for first-time home buyers. Check the Internet. Visit model homes and talk with builders and their sales agents.

Pre-arrange your mortgage
If you are like most of us, you will borrow funds to finance your home purchase. Talk to your lender about mortgages early in the process. Knowing in advance how much you can spend comfortably and getting pre-approval for a mortgage means you can proceed from "just looking" to a signed contract with confidence.

Qualify Builder with your agent
There are many reputable builders who provide exceptional service and build great homes - both lowrise and highrise. As you meet with builders or their salespeople with your Salesperson, ask questions: How long has the company been in business? Is it a member of the local home builders association? Will the builder give you references of previous new home projects? What after-sales service is offered? Does the builder offer an independent third-party warranty and, if so, what does it cover? "Personal fit" is also important: Does the builder or salesperson listen to you, understand your needs, and offer useful advice? If you have additional questions disccus with your Realtor.

Check the home carefully
Whether a builder has a model home, a sales office or sells directly from plans, you'll have an opportunity to look closely at the quality of the home and what's included. The builder's specifications list will detail the construction materials and finishing products. Ask to see a description and samples of the standard features included in the base price of the house, along with the description and cost of options the builder offers. When viewing a model home, don't hesitate to try out windows, open drawers, look into every nook and cranny, and inspect the home's mechanical system.

Understand the total cost of buying
Get detailed prices and estimates on everything involved in buying a home. Your builder and lender can advise you on the costs of securing a mortgage, taxes and so on. Ask your lawyer to give you a detailed breakdown of closing costs. Call movers for estimates. Determine if you need to buy new appliance, window coverings or furnishings.

Consult with a lawyer
Before you hire a lawyer, it's a good idea to ask for a detailed estimate of fees for service.

Be realistic
Quality, solidity, good products, service - these are the things that add up to real value for the long term. Your objective is to find the home that provides the best overall value within your budget. A professional builder will work with you to find the right balance of features that will work well for you.

For more information on new homes or renovations visit the Canadian Home Builders Association website at http://chba.ca/

Source: Sutton

HOW REAL ESTATE MARKET CONDITIONS AFFECT YOUR OFFER PRICE

2010-01-12T12:45:00.004-05:00

A hot market is a "seller’s market". During a seller's market, properties can sell within a few days of being listed and there are often multiple offers. Sometimes homes even sell above the asking price. Though most buyers want to get a "deal" on a home, reducing your offer by even a few thousand dollars could mean that someone else will get the home you desire.

A slow market is a "buyer’s market". During a buyer’s market properties may languish on the market for some time and offers may be few and far between. Prices may even decline temporarily. Such a market would allow you to be more flexible in offering a lower price for the home. Even if your offered price is too low, the seller is likely to make some sort of counter-offer and you can begin negotiations.

More often than not, the market is simply "steady," or in transition. When a market is steady, no real rules apply on whether you should make an offer on the high end of your range or the low end. You could find yourself in a situation with multiple offers on your desired house, or where no one has made an offer in weeks.

Transition markets are more difficult to define. If the economy slows unexpectedly, as it did in the early nineties, people who buy on the high end of a seller’s market (like the late eighties) could find their home loses value for several years. So far, no one has proven reliable in predicting when markets change or how good or bad the real estate market will become.

Source:torontosweethome

SELLING YOUR HOME - WHEN IS THE RIGHT TIME?

2010-01-12T12:42:00.002-05:00

When should I sell my home?

Your answer to this question might be right now! If you have taken a job in another city or made an offer on a new home, or had an addition to your family, selling your home fast might be the most important goal you have. Most people, however, have some flexibility when they sell their home. Let us take a closer look at the most important factors that can go into this decision.

How quickly must you sell?

If you have decided that now is the best time for you to sell your home, then, you will probablywant to complete the process as soon as possible, but will also want to sell your home at the highest price possible. In a "sellers market", where many buyers are competing for relatively few homes, speed and top price can go hand in hand.

However in a "buyers market", when purchasers can take their time to choose among several properties, you may discover there is a trade-off between speed and price. Discuss your specific requirements with a Real Estate Sales Representative, who can help you decide upon an asking price that will also help you meet your timing requirements.

Cycles in the market place - what do they mean?

In real estate it is important to know that over the long term, residential real estate is one of the best investments you can make, while providing you and your family with shelter. There are cycles in the market that may affect your decision regarding when to sell. These cycles can create a shortage of homes, which will push up the prices, or a surplus which can result in a slowdown of rising prices.

What drives these cycles - the overall economy is most obvious. In periods of economic growth when employment is strong and people have confidence about their futures demand for housing grows and is high. When, however, there is a slow down in the economy and unemployment is high, - more homes will come on the market, and buyers will typically wait for times to improve. Keep in mind that these economic fluctuations can be national in scope or affect only certain pockets of the country.

Changing interest rates also influence real estate market cycles. When interest rates rise, fewer people can qualify for any given mortgage amount and demand drops - making it tougher to sell your home, or obtain the price you want. The same is true when interest rates fall, more people can afford to a buy home or qualify for financing so the demand for housing increases.

Does all this mean you need to be an economist to determine when it is the best time to sell? Not at all! But staying aware of the things that influence the cycles in real estate will help you decide when to place your home on the market.

The Seasons of home sales

Seasons also affect buyer demand and in turn, how long it will take to sell your home or the price you can obtain. For example, fewer buyers may be willing to trod through snow drifts (if you live in area with winter climate) to look at homes, but you will also be competing with fewer homes on the market.

Conversely, spring tends to be an active time for real estate sales. Homes and gardens start to look good and again buyers will come out of hibernation and begin the home hunting process. Parents with school children particularly like the spring and are likely to buy a home. Homes are sold throughout the year, so think of the seasons as only one factor in determining when the best time to put your home on the market.

Source: torontosweethome

Downsizing your residence

2010-01-12T12:38:00.004-05:00

A great many moves in our lives are to larger residences to accommodate growing families. Or, perhaps our financial development allows us to move up to a larger home with more features and amenities. There is no stress involved in trying to reduce our life's stuff to fit into a smaller place. If anything, we just need to shop for some more furniture for the new larger place.

There is the other side of this coin, however. Perhaps there have been economic setbacks, and we can no longer afford a large home. We need to downsize to something less expensive, and with lower utility bills, insurance and taxes. More likely these days is that we're of the Baby Boomer generation, and we're downsizing for our retirement years. Our children are out on their own, and we don't need the space that we did previously.

Whatever the reasons for the necessity or desire to downsize our primary residence, it brings a whole raft of other decisions and requirements along with it.

Should we buy a condo or another single family home?
What size residence do we really need?
How do we decide on furniture to keep?
How do we parcel out belongings to our children fairly?
How do we get rid of the items we don't need?
Can we make do with a lot less?

These are a lot of different decisions and tasks than we've had to deal with in previous moves. Taking an organized approach and planning well will help to alleviate the stress that can grow in this situation. Let's answer our questions to get our downsizing project started.

Should we buy a condo or another single family home? Once some thought is put into this question, it usually is not that difficult to answer. Can you deal with living in close proximity to others? How private have your previous residences been? If you're used to a large yard as a cushion from intrusion, a condo might not be for you. Do you like complete control of your home expenses? Condos have association fees that can change. Sometimes large project projects such as parking lots and roofing can cause a sudden large increase in fees. There is something to be said for having exterior maintenance handled for you. Just think about the trade-offs.

What size residence do we really need? People are all different, so errors in residence size choice go both ways. Some believe that they can make do with much less space than they really can. Others are afraid to downsize, and decide on a residence that is too large for them.

One process we'll mention again is getting out some graph paper or floor plan software and doing some testing and planning. What furniture must you keep, no matter what? Plan your rooms on paper to see the size of the home that results. Try very hard not to end up with a storage building, thus just relocating items you don't need in the first place.

How do we decide on furniture to keep? This is related to the item just above. We said to draw out locations for the furniture you must keep. What would that be? Obviously, if you have heirlooms that are dear to you as well as functional, you'll probably want to keep them. If you find yourself planning to store them though, give it some more thought.

Walk each room and see if there is furniture that you never use. Is there a chair in the living room that nobody ever uses? It should probably go. Do this walk-through for every room, note down what you plan on keeping, and plan it out on software or the graph paper.

How do we parcel out items fairly to our children? If you're about to get rid of a great number of personal possessions, many may be of value to your relatives. Hard feelings can come from going about giving them away without some planning and discussion. You might want to call everyone together to discuss who will get what. You might give each a set of colored stickies, and have them go through and mark items that they want. You will, of course, have already marked the items that you'll be giving away. You may find that there aren't that many disagreements amongst them. The group can decide on the conflict items while you're all there.

How do we get rid of the rest? We have the normal charitable organization options, such as the Salvation Army. There may be other local charities that specialize in furniture, clothing or other items. Try to list all items going to each and have them sign for receipt. Ask an accountant about valuation for tax purposes.

You can also hold a garage sale, or multiple sales. Ask the neighbors if they want to cooperate with a neighborhood sale. More participants mean more items and better exposure. Plan it well, advertise and arrange items by type or room, such as all kitchen items together. Much of this type of buying is on impulse, so have like items together.

If you're storing things for your children, you will just have to tell them to come and get it. Give them a date, and be clear that it will be disposed of to charity or yard sale if not taken by that deadline.

Can we make do with a lot less? Yes. That's the only way to answer that question. Perhaps it's better worded "How can we make do with a lot less?" Up to this point, our graph paper or floor plan software were used at the old residence. Now we use them to set up our new digs.

Once you've decided on a tentative purchase, use your graph paper or floor plan software to set up your move. Have a list of all the furniture, place it on your scale drawings of the rooms, and be sure where everything will go. You don't want surprises when the movers are holding an item in the living room. Be sure that you've also drawn in items that could create problems for furniture location. Those might include radiators, fireplaces, wood heaters, or any other item that cannot be moved and takes up floor space or causes clearance problems.

Most people who downsize learn to love their new smaller homes. There is less to care for, clean and keep heated and cooled. You'll be more apt to be happy with the new home if you planned your downsizing carefully.
Source: torontosweethome

Buying Your First Home?

2010-01-09T19:02:00.002-05:00

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Canada’s Economic Action Plan Offers Incentives for Homeownership
Buying your first home is one of the largest investments of your life. Canada’s Economic Action Plan introduces the First-Time Home Buyers’ (FTHB) Tax Credit and the expansion of the Home Buyers’ Plan (HBP) to provide you with additional benefits and help you realize your dream of homeownership.

First-Time Home Buyers' (FTHB) Tax Credit
The costs associated with purchasing a home, such as legal fees, disbursements and land transfer taxes, can be a particular burden for first-time homebuyers who must pay these costs, as well as save money for a down payment. To assist first-time homebuyers with the costs associated with the purchase of a home, the Government of Canada introduced a FTHB Tax Credit in 2009 — a $5,000 non-refundable income tax credit amount on a qualifying home acquired after January 27, 2009. For an eligible individual, the credit will provide up to $750 in federal tax relief starting in 2009.

Expansion of the Home Buyers' Plan (HBP)
To provide first-time homebuyers with greater access to their RRSP savings to purchase or build a home, the Government of Canada has increased the Home Buyers’ Plan withdrawal limit to $25,000 from $20,000 per person for withdrawals made after January 27, 2009.

To obtain more information on the First-Time Home Buyers’ Tax Credit and the Home Buyers’ Plan, call 1-800-O-Canada or visit the Canada Revenue Agency website at www.cra.gc.ca.

Looking for More Homebuying Information?
When it comes to buying your home, nothing is more valuable than peace of mind. That’s why for more than 60 years, CMHC has shared a wealth of knowledge and housing expertise to contribute to a positive homeownership experience for Canadians. Browse through our wealth of homebuying information. You’ll find everything you need, from homebuying videos, to mortgage calculators, to home hunting worksheets.

CMHC also provides mortgage loan insurance that enables you to buy a home with as little as a 5% down — with interest rates comparable to those with a 20% down payment. Obtain a 10% premium refund and extend the amortization period without a premium surcharge when using CMHC-insured financing to purchase an eligible energy-efficient home. This can add up to savings of $1,688 for a typical $250,000 mortgage with a 5% down payment amortized over 35 years. Ask your mortgage professional about CMHC.

source: CMHC

Fun Full of Toronto All year around

2009-12-27T02:04:00.001-05:00

There is lot of Snow on The slopes of Toronto Parks. Centennial Park Ski and Snow board Centre, 256 Centennial Park Rd, and Earl Bales Ski and snowboard Centre, 4169 Bathurst St, Which are now both open for public.
During the regular ski season, the Centennial Park location operates a T-bar and Magic carpet lift with a total of three beginner/intermediate runs, while the Earl Bales Park location features one beginner hill with a rope tow and three intermediate hills with double chair lift.
Both sides are open Monday to Friday from 10:00 A.M to 6:00 P.M.; Saturday from9:00 A.M to 8:00 P.M
And Sunday from 9:00 A.M to 6:00 P.M
If you would like to buy or Sell Homes or condominium around Centennial park or Earl Bales ski and snowboard centers please contact:
Mofizur Rahman, Sales Representative,
Sutton group tower realty ltd.Brokerage,;
3220 Dufferin Street suit7A
Toronto, Ontario. M6A 2T3,
Office:416-783-5000
Cell: 416-559-7108
Fax:416-783-6082

Sell Your Homes Or Condo Fast And For Best Value

2009-12-09T12:19:00.004-05:00

How to Make Sure Your Home Is Priced to Sell
Pricing right is one of the most important aspects to selling a home.
Price too low, and you are leaving hard-earned money on the table or worse…you can actually create a reverse incentive for buyers to view the home since they may assume the property is in need of extensive repairs. Price too high, and the listing will languish on the market until everyone grows bored of seeing it.
Use these simple steps to obtain a ballpark figure on finding the right price for your home.
Obtain current comparable estimates. If you live in a neighborhood with similar-sized homes, try to find a recent sales example and then extrapolate the price per square foot to derive a rough rule of thumb. Increase or decrease the estimate based upon condition, age, upgrades and other amenities.
Include income potential. If the property is capable of generating an income via rental or other ventures, then use the profit potential of the property to estimate the return on investment or ROI. Most investors expect an ROI at or above the safe, headache-free option of investing in Treasury bonds.
Get a second opinion. Work with a real estate agent who specializes in that location to provide valuable feedback and a second opinion. Remember, if you expect a fast sale then search for all available properties and then plan to price your home near the bottom range of the properties currently listed and sold in the area.
Sellers: The Secret to Making Buyers ‘Belong’ in Your Home
It’s only natural for your home to reflect your personal style, but when it comes time to sell, what makes a house a home becomes a major hindrance. Learn how to depersonalize your home in order to obtain the best price.
Go Neutral: Unless your favorite color scheme is completely neutral, it’s time to get out the paint and restore the color to something less noticeable. Eggshell, white tones and beige are good options. Don’t forget the other senses - in addition to color, make sure that the smell of your home is also neutral. Never assume that what you find pleasant smelling will appeal to others. Instead, have your home professionally cleaned using an enzymatic treatment that neutralizes all odors, including heavy perfumes and deodorizers.
Minimize: Eliminate all unnecessary furniture, belongings and clutter as much as possible prior to photographing and showing the home. Not only does it allow people to see the property more clearly, but it helps break down the mental and physical barrier separating buyers from seeing the house as their own.
Highlight the Home: Never showcase personal belongings - instead, highlight the home itself. Tour the house room by room to discover the essence of each area. Create a beautiful view, ambient lighting or other inviting scenario that attracts visitors without overwhelming them. Eliminate distractions that identify the home as belonging to you while allowing them to see themselves living in the house.

Dedicated Real Estate Sales Representative

2009-12-09T12:02:00.004-05:00

Dedicated Real Estate Sales Representative
Legally, an agent is one who is authorized to act for another. When buying or selling real estate, the critical question to ask is "Whose agent are you?"
For sellers, it is relatively straightforward. Once a listing contract is signed, the seller and the real estate company have created an agency relationship. On behalf of the seller, the real estate agent will protect the seller's interests in the transaction. This includes working to get the best terms and conditions, keeping confidential the seller's personal information such as the lowest price they will accept, and advising the seller of market conditions affecting the sale of their property.

It is not so straightforward for buyers. When a buyer calls an agent about a particular property - perhaps from a sign on the property or an ad in the paper - in most cases that agent has signed a listing agreement with the seller. That means the agent is working to obtain the best deal for the seller, not the buyer. Buyers generally have not understood this concept. For that reason, in the mid-nineties, the Canadian Real Estate Association added an "agency disclosure" requirement to the Code of Ethics.
Code of Ethics Article 3 A REALTOR shall fully disclose in writing to, and is advised to seek written acknowledgment of disclosure from all parties to a transaction regarding the role and the nature of service the REALTOR will be providing to the client versus the customer or other party to the transaction. The REALTOR shall also disclose his or her role to the other REALTORS involved in the transaction.

In most places in Canada, a buyer can work with his/her own buyer agent in a real estate transaction. A buyer agent will strive to obtain the best deal for the buyer; keeping confidential the buyer's personal information such as the highest price they are willing to pay for the property and advising the buyer of terms and conditions that should be included in the offer to purchase.

Province-by-province, there is some variation in the way the agency system works. The first order of business for a buyer when engaging in conversation with a REALTOR is to ask, "Whose agent are you?"
Provided By
Mofizur Rahman
SUTTON group tower realty ltd. Brokerage, independently owned and operated.
3220 Dufferin St. suit 7A
Toronto, Ontario, M6A 2T3
Office: 416-783-5000
Cell: 416-559-7108

Realtors Care Foundation

2009-12-02T11:55:00.002-05:00

smart choice to replace windows of your home

2009-12-02T09:41:00.000-05:00

most homes combine science and technologies that increase energy efficiency and actually reduce heating and air conditioning costs.

Modern windows not only beautify the appearance of a home, they bring sunlight in during winter, while preventing the warmth created from escaping outdoors. Windows also insulate a home from heat during the summer and keep cooled air from escaping.

In ancient times, windows were as common as doors in dwellings. Today, windows in Poorly designed, constructed and placed windows can cost money through heat loss.

Increasing efficiency If your home is more than 30 years old and still has the original windows, chances are your windows are not keeping you as warm or as cool as well-placed and installed newer models. Tighten the seal around the windows with weatherstripping. Every window not made of insulated glass should have a storm window. If your home has storm windows, ensure they are in good condition and install them properly before the cold season begins. Seal it tightly over your existing windows and you have an inexpensive and effective alternative.

Replacing windows Replacing existing windows with more energy efficient models doesn’t have to be done all at once. Replacing windows in stages over a period of years costs less up front and still increases energy efficiency.

Before making a decision, consider the principle types of windows available:
The common window types are: double-hung, casement, stationary, awning and horizontal sliding. You want to select windows that augment the appearance of your home, increase energy efficiency and give you the most value for your money. source: OREA