Home Inspections in Toronto’s Hot Market

 

 

As the Toronto Real Estate Market continues to strengthen and the warm weather rolls in, there are no signs of the current seller’s market cooling down.  In many cases, this series of bidding wars, higher selling prices, and limited time windows can cause some buyers to undertake an “any means necessary” purchasing mentality. However, when it comes to home inspection clauses – is it truly worth forgoing piece of mind for a competitive offer?

A home inspection allows for the buyer to obtain a professional document of the conditions of the major aspect of the home such as the major systems, foundation, and roof. By forgoing this condition, you the buyer are accepting that any necessary repairs which the home requires are at your discretion and responsibility. Keep in mind, a seller is not required to disclose any defect that would normally be revealed by a home inspection.

So the question becomes, how can you ensure you have a competitive offer, while still securing your safety in the home’s condition? Perhaps your lucky, and the sellers have provided a pre-listing inspection. If not, consider bringing an inspector along on your primary showing of the property. Even without a formal inspection, having a keen set of eyes with knowledge of possible defects could save you money in the long run.

Have you sold your home, and now can use an advance on your equity before closing day, perhaps for inspection costs and your new home deposit? Tembo Financial can help! Tembo offers unique services to homeowners in Ontario and the GTA. You could receive your money in as little as 48 hours with no credit check and no appraisal*. for expenses that matter to you. Don’t wait, start today!

*Subject to qualification.

Condominiums: The Only Option For Some

CI-GROWINGUP-ZERBSERIES-PHOTOS The view looking east at the CN Tower from Bathurst Street south of Front Street West, Tuesday, March 12, 2013.  (Galit Rodan for the Toronto Star)

Recording breaking home prices in Toronto, especially for detached home, is forcing buyers into condominiums. For a long time this has been the case especially when the benefits of the less independent condo lifestyle outweigh that of single detached household. However, now with soaring prices even in condos, homebuyers have begun expanding their search into suburban areas. Even here, the surge in the price of a house, in some cases, still pushes homebuyers into condominiums. According to Urbanation Inc., 5,615 new condominium apartments were sold across the Greater Toronto Area during the first quarter of 2016, up 32 per cent from a year ago and just below the record of 5,680 sales in the first quarter of 2012.

According to the Toronto Real Estate Board, home prices were up 16.2 per cent in April from a year ago. Therefore, the average detached home sold for over $1.2 million, an 18.9 per cent increase from a year ago. Toronto’s suburbs are experiencing record prices, in which detached homes are up 20.7 per cent from a year ago. Therefore, the average detached home price in the Greater Toronto Area is over $880,000.

It’s not that surprising that more and more homeowners are turning to condominiums in order to avoid these hefty price tags. It is also clear that condo living may be the only option for some, whether it is out of reach or you’re just not willing to fork over the million dollars for a detached home.
Have you sold your home, and now can use an advance on your equity before closing day, perhaps you need money for renovations? Tembo Financial can help! Tembo offers this unique service to homeowners in Ontario and the GTA. You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you. Don’t wait, start today!
*Subject to qualification.

Luxury Homes in Toronto

luxury homes in TO

 

Christie’s International defines a luxury home as a home that sells for more than $3 million. According to a new survey done by Christie’s International, the sale of luxury homes in Toronto was up 48 per cent in 2015. This is due to the relatively short supply of luxury homes in the city which results in high prices and sales activity. This has a major effect on the GTA (Greater Toronto Area) because many people are opting into the more affordable luxury lifestyles available in the suburbs. This includes Oakville and Vaughan which are experiencing increasing activity in luxury markets as buyer’s are looking for such properties. This survey found that Toronto’s real estate market is second to only Auckland, New Zealand when it comes to luxury homes.
Have you sold your home, and now can use an advance on your equity before closing day, perhaps you need money for renovations? Tembo Financial can help! Tembo offers this unique service to homeowners in Ontario and the GTA. You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you. Don’t wait, start today!
*Subject to qualification.

Property of the Week: Modern Masterpiece on The Danforth

property danforth3                                                       property danforth1

Located steps from the Donlands subway station, this modern architectural masterpiece is a prime example of a new home in a neighbourhood full of character. Situated within the Danforth Village, this 3,000 square foot home spans over five levels including four bedrooms and five bathrooms. This property exemplifies an increase in value through extreme restoration. For instance, typical four bedroom homes in this neighbourhood are listed for approximately $600,000, whereas this property is listed for $1.7 million. In restoring this property to its new luxurious form, the homeowner was able to increase the homes value by over one million dollars. This demonstrates the endless possibilities in terms of upping your homes value. Tembo Financial specializes in providing loans for home renovations and restorations, find out how you could increase your homes value by calling Tembo today!

Have you sold your home, and now can use an advance on your equity before closing day, perhaps you need money for renovations? Tembo Financial can help! Tembo offers this unique service to homeowners in Ontario and the GTA. You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you. Don’t wait, start today!
*Subject to qualification.

Toronto Housing Market Is Still Soaring

Despite the implementation of new mortgage rules, Toronto’s housing market is still soaring.  The federal initiative to increase the minimum down payment on a home has not slowed the market.  According to the Toronto Real Estate Board, there were 7,621 transactions in the Greater Toronto Area in February alone which is an increase of 21.1 per cent from 2015.  The Board also states that new listings in February were up 8.2 per cent from last year.  Prices in the city are also up, TREB states they are also up, at 11.3 per cent higher than in 2015.  Toronto’s market continues to prosper and it is, therefore, evident that the new mortgage rules have not hindered the market in anyway.

Have you sold your home, and now can use an advance on your equity before closing day, perhaps you need money for renovations?  Tembo Financial can help!  Tembo offers this unique service to homeowners in Ontario and the GTA.  You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you.  Don’t wait, start today!

*Subject to qualification.

Suburban/Rural Living

A good way to decide if suburban or rural living is right for you is to first figure out your budget.  How much can you spend on a home?  With this number begin looking at homes in urban, suburban, and rural areas.  There will be under and overpriced homes in all of these areas but try and find an averagely priced home that you would actually want.  For the purpose of this exercise these homes need to practical.  Now with these three homes of the same price, really analyze them.  Depending on your budget, many people will find that their dollar will go a lot farther in suburban or rural areas.  Looking at these three homes, you will realize that you will most likely be sacrificing square footage, loosing the extra bedrooms or office, and having less bathrooms.  You may also lose suburban/rural luxuries like a front and backyard and a multi-car garage.  After taking these into account and you still think its worth it, then urban living is for you, if not then perhaps you should be looking for a home in suburban or rural areas.

Some of the benefits of rural living include:

  • Nature
  • Space
  • Lower cost of living
  • Community
  • Family-oriented

Have you sold your home, and now can use an advance on your equity before closing day, perhaps you need money for renovations?  Tembo Financial can help!  Tembo offers this unique service to homeowners in Ontario and the GTA.  You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you.  Don’t wait, start today!

*Subject to qualification.

Urban Living

Deciding where to live is a decision that will impact you in nearly every aspect of your life.  Some typical factors that people look at when deciding where to live include: cost, weather, demographics, growth, crime, schools, and proximity to work and services.

Urban living often leads to a more accessible lifestyle and can be great if you enjoy the hustle and bustle and want to be a part of the action.  Living in the city definitely has its benefits, some include:

  • Access to public transportation
  • Walkability
  • Attractions and entertainment
  • Proximity to restaurants and shopping
  • Social opportunities
  • Networking

Have you sold your home, and now can use an advance on your equity before closing day, perhaps you need money for renovations?  Tembo Financial can help!  Tembo offers this unique service to homeowners in Ontario and the GTA.  You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you.  Don’t wait, start today!

*Subject to qualification.

Why To Sell Right Now

There are multiple benefits of selling your home right now.  Selling your home in the Spring will give you the opportunity to attract serious buyers.  These are often the proactive personality types who want to be in their new home for the summer.  A lot of people will wait until the end of the Spring to list their homes, meaning right now there are fewer homes on the market which limits the options of your potential buyers.  This directly results in lower competition and could increase the value of your home.  It may also be beneficial for you to sell right now to avoid stress down the road.  You may chose to wait for a few months before worrying about moving.  Let your kids finish the school year and then move at the end of June and spend the summer in the new place either enjoying it or customizing it so its ready in the Fall.  However, as we move closer to the summer months, the market will become increasingly saturated, so hurry and call Tembo today!

Have you sold your home, and now can use an advance on your equity before closing day, perhaps you need money for renovations?  Tembo Financial can help!  Tembo offers this unique service to homeowners in Ontario and the GTA.  You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you.  Don’t wait, start today!

*Subject to qualification.

Suburbia

Many have people have been turning back to the burbs in attempt to avoid the soaring home prices in Toronto.  According to the Toronto Real Estate Board, the average resale price of a home in the Toronto stood at $654,221 in November of 2015.  Returning to the subject of millennials driving the real estate market, communities including Ajax, Oshawa, and Pickering have become magnets for detached home, family-seeking millennials.  These communities have become progressively popular due to their increased accessibility with frequent service by GO Transit and the extension of Highway 407 and the construction of Highway 412.  However, this increasing interest and popularity in the Durham Region was majorly due to the low price of homes.  According to the Toronto Real Estate Board in a November 2015 report, here is the breakdown of average home resale prices by region:

Toronto: $654,221

York Region: $807,167

Durham Region: $455,603

New homes in the Durham Region are substantially lower than those elsewhere.  RealNet Canada reports that the average new home in Durham costs an average of $546,334 whereas the GTA costs $811,110.

Have you sold your home, and now can use an advance on your equity before closing day, perhaps you need money for renovations?  Tembo Financial can help!  Tembo offers this unique service to homeowners in Ontario and the GTA.  You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you.  Don’t wait, start today!

*Subject to qualification.

What Millennials Want

It is important for developers and real estate agents to have a firm grasp on the needs of their clientele.  The people entering the market today have much more complex needs and the one size fits all ideas for development can no longer be applied.  Therefore, millennials are heavily transforming the home buying process.  Most obviously, this is done through the use of technology.  According to the National Association of Realtors, more than 50 per cent of millennials search for homes on their phones and, among those, 26 per cent end up buying a home they found that way.  Mobile apps and mobile optimized sites have proven to have much more traffic than desktop sites.  This is because the majority of todays potential home buyers are always on the go and turn to their phones and tablets first.  Millennial home buyers searching for homes on their phones must see photos and lots of them.  As a home seller or real estate agent, you should ensure there are ample photos of the home online and they need to be good.  If you aren’t as tech savvy as your potential buyers you could consider hiring a photographer to capture your home or ensure this is on the agenda of your real estate agent.  Anything technology related you can do to make your home more appealing or advance it in any way is sure to be more successful among millennials.

Have you sold your home, and now can use an advance on your equity before closing day, perhaps you need money for renovations?  Tembo Financial can help!  Tembo offers this unique service to homeowners in Ontario and the GTA.  You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you.  Don’t wait, start today!

*Subject to qualification.