Category: Selling
A Closer Look at the Fair Housing Plan

Ontario’s Fair Housing Plan introduced 16 measures aimed to help cool the hot real estate market.  These new measures are expected to bring stability to buyers and renters in the real estate market as well as implement efforts to gather more data to help make more informed decisions in the future.

Let’s take a closer look at 3 measures worth reviewing:
Non-Resident Speculation Tax (NRST)
  • Effective April 21, 2017, the NRST would charge 15% on the price of homes within the Greater Golden Horseshoe (GGH) area.  The GGH includes the following geographic areas: Brant, Dufferin, Durham, Haldimand, Halton, Kawartha Lakes, Niagara, Northumberland, Peel, Peterborough, Simcoe, Toronto, Waterloo, Wellington and York.  This tax applies to buyers who are not Canadian citizens or Permanent Residents.
  • Exemptions: refugees and foreign nationals who receives confirmation under the Ontario Immigrant Nominee Program
  • Rebates: available to foreign nationals who become a Canadian citizen or Permanent Resident within 4 years of the date of purchase, foreign students who have been enrolled in full-time studies for at least 2 years, foreign nationals who have legally worked full-time in Ontario for a continuous period of 1 year since the date of purchase/acquisition
Rent Control
  • Rent control will be applicable to all private rental units built after 1991.  The yearly rental increase will be capped at a max of 2.5%.
Cracking Down on “Paper Flippers”
  • As part of the Ontario government’s plan to collect more data, they’ll be using that data to crack down on buyers who invest in new builds and then sell them on assignment before it closes – they’ve coined these buyers as “paper flippers”.  They’ll be working closely with the CRA to ensure all taxes (e.g. land transfer taxes) are paid.
Click here to read up on the 16 measures that were implemented.

Tips for Selling Your Home This Spring

It’s only February but spring is just around the corner, so if you’re planning on listing your home this coming season, the best time to get started is NOW!

 

Here are some of the tried and true tips to get you started:

 

Declutter, declutter, declutter

One of the most cost effective selling tips that I can offer is to declutter your home so you can maximize the perceived space in the home. Many buyers are unable to look past the clutter and visualize the amount of space available. Throw out or consider donating things that you’ll never use, and clear out all the non-essentials. Buyers will look through closets, open drawers and examine the garage space – organize those areas so buyers can visualize their belongings there.

 

Give your walls a good coat of paint (if needed)

Try to keep your paint colours neutral, remember it’s not about personal preferences but appealing to the masses. You’d be surprised how much of a difference a good paint job can make, often changing the whole look and feel of the home.

 

Deep clean your home

Consider hiring professional cleaners to deep clean your home and get into the nooks and crannies that are often overlooked. Many buyers pay close attention to areas like the kitchen and bathrooms so you’d want to make sure those are spotless. If you’ve got carpet in your home, considering getting them steam cleaned.

 

Make sure your home passes the sniff test

Smell is powerful and can easily drive buyers from your home. Often times, home owners do not notice the smells are even there. Ask someone that doesn’t live in the home to see if they notice any odors (e.g. pet odors, cooking odors, etc.) and address them before you list your home on the market.

 

Find a temporary pet sitter

Not everyone is an animal lover and one of the first things that pop into a buyer’s mind is “what if the pets had a lot of accidents in the home and it seeped through the floors?”, “what if they damaged the home?”. Pet odors can sometimes be unpleasant and unwelcoming especially if there are unforeseen accidents or unusual smells coming from places like the litter box, take your pets somewhere safe and comfortable while your home is being listed.

 

For more tips and tricks, please contact me at info@cynthiahu.ca


5 Reasons to List Your Home in the Winter

Happy New Year!!  Wishing you and your loved ones a happy, healthy and prosperous New Year!

Now that the holidays are over, I’ve had a number of homeowners ask me when would be the best time to list their home.  No doubt, there’s a ton activity in the Spring and Fall markets, however believe it or not, the months leading up to Spring are a great time to consider listing your home.  Here are 5 reasons why:

 1).  “Spring market” starts in February

Buyers are ready in February and typically want to close “in the spring”.

 2).  Less competition

Most sellers wait until April/May, which means more homes for sale = more competition for sellers.

 3).  January is the biggest corporate relocation month

Most corporate moves happen at the beginning of the year and the relocating Buyer is typically motivated and ready to make a quick decision.

 4).  Homes show well during winter months

The holidays are a great time to showcase your home because winter decor makes the home feel and homey inside and out.

 5).  More serious Buyers

Although you may have fewer showings during these cold months, you’ll definitely have more qualified Buyers who are ready to act now.

If you’re thinking about selling your home and want to know how much your home is worth or if you want to know what’s involved in prepping your home for sale, let’s connect and I’ll walk you through everything you need to know!


Address
Century 21 Atria Realty Inc., Brokerage*
1550 16th Ave. #C200 South
Richmond Hill, ON L4B 3K9
Contact
D 416.684.5372
O. 905.883.1988
E. info@cynthiahu.ca
Century
*Each office is independently owned and operated
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