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Thursday, 11 May 2017

4 Reasons to Buy A House Today!

Home ownership will always be a part of the Canadian Dream. Owning your own house has countless advantages(educational, health, social) that far eclipse any economic impact. However, we want to look at some key economic advantages of home ownership in today’s post.Check out these 4 Reasons to Buy A House Today!

1. Buying is Cheaper Than Renting

The results of the latest Rent vs. Buy Report show that home ownership remains more affordable than renting with a traditional 25-year fixed rate mortgage in the largest cities in the Canada. Check out this article on rent vs buying here https://andrewweaver.ca/rent-vs-buying/

2. Being a Home owner "encourages" You to Save

According to SavingAdvice.com, home ownership is a great way to save. Their advice is quite simple:
“Home ownership is a “forced” savings account because you own the home, you have no choice – that monthly housing cost has got to be paid no matter what…Home ownership can be an outstanding way to force yourself to be more frugal in the rest of your spending so that you can save and build equity in your home.”

3. Tax Deductions and Home Ownership

According to the Tax Policy Center’s Briefing Book -“A citizen's guide to the fascinating (though often complex) elements of the federal Tax System” - there are several tax advantages to home ownership. Here are three:
  1. Homeowners who itemize deductions may reduce their taxable income by deducting any interest paid on a home mortgage.
  2. Homeowners who itemize deductions may also reduce their taxable income by deducting property taxes they pay on their homes.
  3. Taxpayers who sell assets must generally pay capital gains tax on any profits made on the sale.

4. Economists Predict House Price Appreciation to Continue

Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.
Over the next five years, home prices are expected to appreciate 3.22% per year on average and to grow by 17.3% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.


Some are afraid that house values may have already peaked. Nonetheless, we believe that purchasing a house now will prove to be a sound financial decision for years to come. As Warren Buffet said, “When others are greedy, be fearful. When others are fearful, be greedy.”

Andrew Weaver
"Your source for Wasaga Beach and surrounding area real estate."

Friday, 5 May 2017

Consider Wasaga Beach For Your Next Cottage

Wasaga Beach has forever been the chosen retreat for neighboring Toronto residents because it lays claim to having longest fresh water beach in the world, but it did not officially become a town until January of 1974. Consequently, the community has continually increased -- from 12,419 permanent residents in 2001 to 15,029 when the 2006 census was conducted.
As the numbers continue to rise, Wasaga Beach has earned a reputation as one of the quickest growing regions in the country. The number of transactions and the extent of Wasaga Beach real estate sold is climbing dramatically -- especially since 2009 -- and new inhabitants are building houses as the demand for more seasonal structures is growing, and cottages and recreational properties are springing up along the popular water front. 
Residents and tourists alike are drawn to Wasaga Beach by the the fourteen kilometers of safe sandy public beaches that is also home to the Wasaga Beach Provincial Park, which was awarded the coveted Blue Flag designation for its endeavors to govern Wasaga's shoreline in accordance with international environmental guidelines. The area provides recreation all year round along the sandy beaches -- designated 1-6 (with 1 and 2 being the most busy) -- and during the spring and summer there are recreational activities such as beach volleyball or a game of Frisbee to be enjoyed by all. The same expanse of beach becomes a wintertime gathering point for sports buffs who come to snowmobile and snow shoe on the well-groomed trails.
Even though a major fire demolished seventy percent of the main drag, businesses and apartments -- as well as the pedestrian mall -- on November 30, 2007, Wasaga Beach growth has not stopped. Instead, the area is experiencing a big development boom with fabrication currently underway on a modern style beach front boardwalk with a plaza, eateries, and an all weather theme park attached to a monorail. To deal with the requirements of the burgeoning area, the area transit service, Georgian Coach Lines, has had to expand their routes twice since 2008 and offer service daily from 7AM to 7PM on an east-west loop through the town.
The growing availability of amenities and products in Wasaga Beach has helped push real estate sales up 65 percent in the first quarter of 2010 when compared to the same period last year. The month of March 2010 saw a substantial 50 percent rise which also had a positive affect on the adjacent Collingwood real estate sector. Even more encouraging were the price range increases, up to 172 percent in some regions of the Greater Toronto Area, with homes that were marketing for 300K moving into the 350K to 500K range. Although undoubtedly seasonal buyers make up much of the increase, it also appears to be due to the high-end estates in Wasaga Beach are becoming a sought after retirement choice for wealthier residents. But no doubt the general appeal of the Georgian Triangle 'quality of life' will keep attracting the attention in a wide range of home buyers who are drawn by the natural beauty of Wasaga Beach, but take pleasure in the convenience of having the services of Toronto that is just a 1.5 hour driving distance.  

Wednesday, 3 May 2017

Real Estate Lingo Explained

Purchasing a home in Wasaga Beach can be nerve racking if you are not familiar with the terms used during the process. To start you on your path with confidence, we have compiled a list of some of the most common terms used when buying a home.

Annual Percentage Rate (APR) – This is a broader measure of your cost for borrowing funds. The APR includes the interest rate, points, broker fees and certain other credit charges a borrower is required to pay. Because these costs are rolled in, the APR is usually higher than your interest rate.
Appraisal – A professional analysis used to estimate the value of the property. This includes examples of sales of similar properties. This is a necessary step in getting your financing secured as it validates the home’s worth to you and your lender.
Closing Costs – The costs to complete the real estate transaction. These costs are in addition to the price of the home and arepaid at closing. They include points, taxes, title insurance, financing costs, items that must be prepaid or escrowed and other costs. Ask your lender for a complete list of closing cost items.
Credit Score – A number ranging from 300-850, that is based on an analysis of your credit history. Your credit score plays a significant role when securing a mortgage as it helps lenders determine the likelihood that you’ll repay future debts. The higher your score, the better, but many buyers believe they need at least a 780 score to qualify when, in actuality, over 55% of approved loans had a score below 750.
Discount Points – A point equals 1% of your loan (1 point on a $200,000 loan = $2,000). You can pay points to buy down your mortgage interest rate. It’s essentially an upfront interest payment to lock in a lower rate for your mortgage.
Down Payment – This is a portion of the cost of your home that you pay upfront to secure the purchase of the property. Down payments are typically 3 to 20% of the purchase price of the home. There are zero-down programs available through VA loans for Veterans, as well as USDA loans for rural areas of the country. Eighty percent of first-time buyers put less than 20% down last month.
Fixed-Rate Mortgages – A mortgage with an interest rate that does not change for the entire term of the loan. Fixed-rate mortgages are typically 15 or 30 years.
Home Inspection – A professional inspection of a home to determine the condition of the property. The inspection should include an evaluation of the plumbing, heating and cooling systems, roof, wiring, foundation and pest infestation.
Mortgage Rate – The interest rate you pay to borrow money to buy your house. The lower the rate, the better. Interest rates for a 30-year fixed rate mortgage have hovered between 4 and 4.25% for most of 2017.
Pre-Approval Letter – A letter from a mortgage lender indicating that you qualify for a mortgage of a specific amount. It also shows a home seller that you're a serious buyer. Having a pre-approval letter in hand while shopping for homes can help you move faster, and with greater confidence, in competitive markets.
Primary Mortgage Insurance (PMI) – If you make a down payment lower than 20% on your conventional loan, your lender will require PMI, typically at a rate of .51%. PMI serves as an added insurance policy that protects the lender if you are unable to pay your mortgage and can be cancelled from your payment once you reach 20% equity in your home. For more information on how PMI can impact your monthly housing cost.
Real Estate Professional – An individual who provides services in buying and selling homes. Real estate professionals are there to help you through the confusing paperwork, to help you find your dream home, to negotiate any of the details that come up, and to help make sure that you know exactly what’s going on in the housing market. Real estate professionals can refer you to local lenders or mortgage brokers along with other specialists that you will need throughout the home-buying process.

The best way to ensure that your home-buying process is a confident one is to find a real estate professional who will guide you through every aspect of the transaction with ‘the heart of a teacher,’ and who puts your family’s needs first.

Friday, 28 April 2017

Three ways to ease your fears about making a move

Three ways to ease your fears about making a move

With low inventory in Wasaga Beach and throughout the province, many homeowners are afraid to sell their property because they're uneasy that they may not be able to find a new one. This can be a real problem, but if you are looking to sell-whether to upgrade or find a new neighbourhood-there are a few ways to combat the low inventory.

Look to purchase first In most markets it is a real error to put your property up for sale before you start looking for your new property. Identify the geographic area where you are interested in buying. Even if you don't see anything on Realtor.ca, it doesn't mean you can't or won't find the right home.

Think outside the box Be proactive! Keep in mind that there are probably many people like you who want to make a move but are afraid as well. Have your real estate agent send a letter to the neighbourhoods in the geographic areas where you want to live. The letter should be heartfelt and personal while announcing that you are ready to buy a home in that neighbourhood. You could find a home to buy that may not even be currently listed or for sale.
Protect yourself legally Each Province varies in how the purchase process is conducted. Talk to your real estate professional about adding a clause in the purchase contract for the home you are selling that will enable you to not sell the home if you cannot find a suitable home to buy.

Monday, 24 April 2017

Wasaga Beach Real Estate Market Update April 17th to April 23rd

wasaga beach real estate market update
The following blog covers real estate activity for Wasaga Beach for the week of April 17th to April 23rd 2017. This information was obtained from the Southern Georgian Bay Association of Realtors® and is deemed but not guaranteed to be accurate.

New Listings

  • Residential - 22
  • Condo- 4
  • Vacant land- 4
  • Commercial- 1
  • Residential on leased land- 1

Sold Listings

  • Residential- 18
  • Condo- 1
  • Vacant land- 5
  • Commercial- 0
  • Residential on leased land-


It appears the market is starting to balance out a little with there being a total of 33 new listings and 23 sold listings. We see a spike in vacant land activity this week compared to last week with 4 new listings and 5 sold listings.

Saturday, 22 April 2017

Home Renos on a Budget

home renos on a budget
If in the near future you are planning on selling your home, for an effective return on investment (ROI)  consider upgrading or updating key items in your house. For major renovations professional contractors will be required but for smaller ones most home owners will be able to tackle the jobs themselves. The following home renos on a budget tips will cost you between $500 - $1,000.

The Front Door

Curb appeal… it’s the primary and fundamental critical selling feature of a residence and may either draw buyers in or discourage them. Aside from retaining neat and tidy outdoors or having a pretty flower garden, the front door can stand as a statement to the atmosphere in your house. For new builds or older homes, the front door is generally featured with a small window. Create a assertion via replacing the the front door with one that has more complex detailing, up to date hardware, and large decorative glass inserts. If you’re planning to sell, be sure to pick a colour that compliments the outdoor color scheme of your home and has some impact, while still keeping the traditional look. A large glass insert will also draw more natural light into the lobby of your home, creating a bright and cozy surrounding. Numerous door styles can be found at your neighborhood home renovation store, saving you a trip to a professional window and door company. Be sure to measure twice and cut once. Once you've got your door picked and purchased, it’s as simple as popping the old door off its hinges, replacing with the new door.

Increase the appearance of square footage

While actually adding square footage to your home such as finishing the basement or adding an addition to your home would be too costly there are other steps you can take to make your home appear bigger.
Lighten-up and de-clutter your home is the simplest way to achieve positive results. Paint dark walls lighter by using neutral or pale colours, place mirrors in smaller rooms. Replace heavy drapes with retractable blinds.
Rearrange your furniture to create more space, if you have too much furniture you may consider storing some of it until your house has sold. De-clutter and pick up knick-knacks, children toys and any other random objects. 

Hire a professional cleaner

Professional cleaners have the right tools for the job. This is especially important if you have children or pets. Professional cleaners will be able to tackle stubborn dog fur, furniture stains and so forth. Have carpets and furniture steam cleaned to remove any odours. Have the exterior of your home deep cleaned also,this may include power washing siding, decks, sidewalks removing any fungus and stains.

This list is just an example of some of the affordable home improvements a home owner can make. Make a list of the most important items in your house to be addressed and start from there. 

Wednesday, 19 April 2017

Buying Your First Home In Wasaga Beach, ON

buying your first home in wasaga beach

Spring has sprung and the Wasaga Beach housing market is in full swing. Many Ontario residents are relocating to Wasaga Beach due to the small town charm, sandy beach and miles of walking trails. Wasaga Beach has it all and is still quite affordable when compared to other areas of Ontario.

Before you jump head first into the housing pool check out these 5 simple tips to make the whole process much easier for you when buying your first home in Wasaga Beach, ON

Think of your home as an investment

When home buyers start their home search, often the last thing they consider is the resale value. On average, home owners move every 7-9 years. Check the different neighbourhood historical values. Research any planned developments in the area that may affect the value either in a positive or a negative way.

Make a wishlist

Make a list of the homes must have's and rank them from their highest to lowest. Ultimately you'll have to compromise on several of the items but this list will keep things in better perspective for you.

Get a pre-approval + credit check

Unless you have just won the lottery chances are you'll need to get financing. Get in touch with a bank or a mortgage broker and have them do a mortgage pre-approval for you. This way you'll know exactly how much you can afford. 

Tip: Don't buy a home at your pre-approval limit, reduce this amount by 10% to allow for any unforeseen costs.

Take into account additional costs

Additional costs will include the cost of moving, furniture expenses, home insurance, lawyer fees to close the transaction. Condo fees if purchasing a condo. For more information on buying a condo check out my blog on the subject buying a Wasaga Beach or Collingwood condo. 

Choose the right Realtor®

You're about to make the biggest investment of your life so be sure to choose the right professional for the job. Here are some questions to ask when choosing the Realtor® you plan on working with:
  • How many years have you been actively trading in real estate?
  • Do you specialize in a certain type of property or area?
  • Are you full time or part time?
  • Do you have have any references or testimonials from past clients?
  • Do you have up to date errors and omissions insurance and ask for proof of such?

Coldwell Banker Ronan Realty

Coldwell Banker Ronan Realty
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