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East York people, places, events & insights

@ HOME WITH KEVIN 037: Tips to ensure you get the most out of buying and owning a rental property

Posted by on Jan 13, 2018

2018 just may be the year to take advantage of East York’s hot rental market!  If you’re not planning to sell your home anytime soon, consider leveraging the equity in your home to buy an income property. I’ve got four thought starters to help ensure you make a profitable investment. Frame of Mind: Before you dive in, what’s your frame of mind around an investment buy?  Are you seeking financial freedom?  Is this to occupy your retirement or spare time hours?  Is it to have an asset to pass on?  Will you be happy with neutral income and passive property value growth?  Or do you need immediate, positive monthly cash flow?  Maybe it’s a combination of these or other factors, but the financial needs and personal reasons why you want an income property deserve ample consideration and will guide...

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@Home with Kevin 036: Real Estate 2017: Like Santa’s sleigh ride —in a blizzard!

Posted by on Dec 3, 2017

Inevitably as you head into the holiday fray, real estate comes up in conversation.  Here’s a recap to help you chat with savvy about the 2017 market, which has been much like one might imagine thinking about Santa’s sleigh ride in a blizzard. We started with strength from 2016.  By March, the average price of detached homes across the GTA had risen to $1.21 million up 33.4% over 2016. That continued until April, when the Ontario government introduced a 15% foreign-buyers tax as part of a package of reforms designed to cool the heated housing market.  By June, home sales fell 37% in the GTA and prices were down almost 14% from April’s peak. Speaking from the trenches, I feel what caused the market to flatten was the exasperated step back taken by local, non-investor buyers and sellers. Many...

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You better watch out!

Posted by on Dec 1, 2017

Health officials warn that warmer than usual weather could lead to ticks, which can cause Lyme disease and problems for pets, showing up on Christmas trees.  They advise you shake the tree vigorously before bringing indoors and if possible hose it down...

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PROPERTY PERSPECTIVES 035: The Regrettable #1 Trap of Retirement Downsizing

Posted by on Nov 7, 2017

It’s easy to dream about the leisurely days you’ll enjoy with the high price your home will fetch.  Perhaps the neighbours sold their home for a sky-high sum, or so they told you as a limo whisked them off to who knows where.  The fact is, you likely don’t know: a) how their home differs from yours relative to the qualities prospective buyers value most; b) their home’s condition or upgrades; c) the net proceeds of the sale; or d) whether the real estate market was better or worse than it is now. Done right, downsizing can be a good idea.  Most homeowners count on financing retirement by selling their home, buying a smaller home and investing the difference for income.  Regrettably, they sometimes reap much less than they hoped for by overlooking or underestimating closing costs, realtor fees...

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PROPERTY PERSPECTIVES 034: Tips for converting your basement into a liveable, value-added space

Posted by on Oct 5, 2017

Turning an East York basement into a finished and livable space provides you with another room to enjoy while increasing the value of your home.  When it comes time to sell, a creatively utilized and properly finished basement can yield a positive return on your investment. Based on my experience with what buyers look for, here are some ideas for converting your basement into a livable space: Rec-Room/Living Room:  A recreation room is one of the most popular and more economical uses for a finished basement.  The extra space could be a playroom for kids, an adults-only living room retreat, a she-cave, a man-cave, or a home theatre.  Couches for plenty of seating, a big television, pool or games table, are right at home in the basement.  When it comes to flooring, opt for family and pet-friendly materials that...

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Pre-winter home renos are a prudent step to take now

Posted by on Oct 4, 2017

\ BY ANDREA FREEDMAN \ When we think of home renovation, many of us immediately think of it in terms of redecorating and what it will look like when it is done.  But with winter not far away, it is what we do to our houses that cannot be seen that is far more important than the visual effects of renovation. Fred Maycock, co-owner of Maycock Contracting, stresses the importance of proper insulation in the attic.  According to the Toronto Building Code –which refers to residential renovations– there needs to be “at least 20 inches of insulation in your attic.” Besides complying with building code standards, insulation has many benefits for homeowners. “The more insulation you have in your attic, the more heat gets trapped in your home, making your heating costs lower,” Maycock says. Insulation is not as...

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