When it comes to starting or adding to your investment portfolio, it is important to find a property with great bones. Unless you have renovation experience, and you’re knowledgeable and familiar with zoning regulations and building codes, it is a good idea to stick with investments that are already legal multi-family dwellings.
For example, this week, coming to the market, we have a legal up-down duplex in the Kingsdale neighbourhood in Kitchener.
Quiet, and family-oriented, this home can be used as an investment with two rental units, you can live in the upper and rent the lower to pay your mortgage or build equity faster, or simply live in the whole home yourself.
Because of the unique layout, it is easily used as a single family home if desired. This can also be convenient if you have extended family who will reside with you.
This brick and aluminum siding home has a full-basement, the windows are unusually large and the fully fenced yard and double garage and driveway make it suitable for one family or two. In addition, public transit, the expressway and the 401 are nearby, and proximity to shopping and schools makes it convenient too.
In general, with an income-producing basement unit, ceiling height, egress windows and the entry/exit are important factors to consider in order to have a safe, code-abiding investment, and the location makes it more accessible for varying needs.
For more information on this listing, you can visit: 230ninth.com
With the rising prices in Waterloo Region, it may be challenging for people to become first-time home buyers or find the right home in the right neighbourhood. For those who have the freedom to make like a tree and “leaf”, former KW-ers have headed to Woodstock, and even to London where home prices simply mean you can get more for your money.
For example, we have a beautiful two bedroom townhome condominium that is just minutes from the Thames River in West London. There are kilometers of walking and biking trails, yet all the amenities are nearby.
The neighbourhood is quiet, and incredibly walkable, with easy access to main roads so that you can get where you’re going in a timely fashion. When you’re not working, take time out to visit the nearby golf course, where you can hit a few balls in the afternoon and then catch a view of the river while you’re at it.
Great homes like this near the Thames in West London are wonderful opportunities to get out and explore, and enjoy everything the area has to offer.
If you’re interested in this beautiful home, it will be coming to Realtor.ca on Monday, May 1st! For more details, visit 519riverside.com.
The spring market in real estate is always a busy time for buyers and sellers alike. With March’s home sales statistics showing continued strong interest by Buyers in Waterloo Region, more Sellers are considering the benefits of using this market climate to their advantage, as they plan to downsize, or sell investment properties to release equity and potential financial gain.
In fact, a new poll of 3000 Canadian adults conducted by CIBC, finds 41 per cent of Canadian with plans to sell their property are doing so to cash in and make a profit.
It’s definitely a prime time to sell, particularly in light of some signs of cooling happening in areas surrounding Toronto. So while the market is hot now, it won’t last forever. If you’re thinking about moving, why not get the market to work for you?
If you’re wondering just how much the market has added to your home, and how much you might be able to take home after the sale, be sure to speak to a REALTOR® who will be able to help you effectively capture that profit to help you buy your new home, save for the kids’ education, or fund that retirement nest egg.
If you thought that February’s sales stats were high, get acquainted with March Stats which included 729 residential properties sold in the Kitchener-Waterloo area through the Multiple Listing System (MLS® System) of the Kitchener‐Waterloo Association of REALTORS® (KWAR).
“This is the first time we’ve seen residential sales come anywhere close to the 700 unit mark so early in the year,” says James Craig, President of the KWAR.
The average days on market in March were significantly shorter than a year ago: 14 days, compared to 35 days. On a month to month basis, it took four fewer days to sell a home in March compared to the month before.
Despite the low inventory, Craig notes that people were listing their homes in large numbers last month. “We had 844 new listings processed through our MLS® System in March which is above the previous 5‐year average of 807 for the month of March.” However, due to extraordinary demand, the number of active residential listings still on the market at the end of March was well below normal with only 434 residential properties for sale, way below the previous 5‐year March average of 1,508.
For more details on March’s K-W Market Update including statistics from Wellesley, Wilmot and Woolwich Townships, click here.
In this fast-paced market, homes are selling more quickly than ever, but location is still a factor that should be considered by Buyers. Is it close enough to school, work, and other amenities that are important to you?
When you’re thinking seriously about moving, take the time to do a little research and take advantage of the internet, and talk to friends who may live or frequent the area to help you decide if it’s the right buy for you.
Here are are a few great ways to learn more about a neighbourhood whether you are moving across town or to another province:
- Use Google Street View- to map out streets and find amenities close by, and don’t forget to use street view to consider the overall condition of the homes, and the community centres, or local parks.
- Check Google Reviews and Yelp- to get an idea of what kinds of shops, restaurants and other features are nearby and to see if these are places that you would like to visit or use.
- Google Map Destinations- map out your routes to work, school, soccer, access to the 401, expressway or any other destination you think you will be using regularly. Does it makes sense to buy a home that is 20 minutes from the highway, if you commute?
- Ask your REALTOR® – We are a great resource that can help you understand the demographics of a neighbourhood, let you know where people tend to shop or go to school, and other characteristics that can help you imagine living in your potential new home.
- Take a hike– Walk around the home, and streets. Do you feel comfortable? What are the neighbours like? Is it an acceptable level of traffic? Only you will know if the area is right for you.