Just about every new home buyer starts to ask themselves the ever famous question at least once “Should I just build my own home?” Of course the common sentiment is that if you build your own home you can get ‘all the things you want’.

While this may be the best decision for some people, let’s go over the issues and advantages of building new yourself, or finding your next home already done and ready for you to move into.Building New

• Design a layout with an architect that suites your families needs
• Choose your finishes; colours, styles etc.
• You can can ‘exactly what you want’ … If you have an unlimited budget!
• If you are building on your own lot you are moving out and renting or shacking up with family (then moving back)
• Staying on budget can be tougher than it seems as every little change and ‘new idea’ will reflect in final price
• Must purchase appliances, light fixtures, window coverings, shelving etc. (add to budget)
• May not be done on schedule. Time waiting for permits, committee of adjustment rulings and availability of builder
• If you are building on another lot, you’ll have to arrange a building loan or sell your current  home to pay for the cost of building (may require a move to rental)

Buying New

• While you may not feel you are getting exactly what you want – the price is the price with no unknown design costs
• You can sell your home and buy your new home in the same market (without risk of market fluctuations)
• One simple move from your home to your next home
• If you buy brand new you should have Tarion Warranty as well as we strongly recommend a Home Inspection even though it’s new
• Does not require 12 – 18 months of reviewing plans, working with designers, architects, builders etc. and allows you to focus on your family instead
• Can often arrange creative financing through the builder. Easier to finance yourself through a bank/broker

There are so many points to consider when buying or building. We have worked with families who have done both and have heard the good, bad and the ugly of each decision.

If you are planning a move, renovation or new build please know that we offer a free no obligation consultation to discuss the pros and cons of your plans.

Take a look at these sites for more ideas and discussions.

BuildingHomes.ca

5 Things You Should Know Before You Build

If you have an experience or idea to share please do so – it’s much appreciated by all!

But here’s something no one ever talks about.  Homes that smell of cigarette smoke often sell for far less than those that don’t!

Unless you’re absolutely sure your home is going to be purchased by a builder who intends to demolish your home immediately – start smoking on your porch like most of your neighbours do.

When buyers walk into a home with a lingering smell of tobacco they instantly start adding up all the things they will need to do in order to remove the odour;  remove all carpet, remove all window treatments, repaint every wall and refinish all hardwood floors. In some cases the removal of attic insulation also becomes necessary.

This can all add up to huge costs for the buyers so, guess what happens to the price of your home. On a $500-$600k home, smokers homes can sell for $10,00 – $15,000 less than a non-smokers home. So on top of the daily cost of a pack of smokes – now think about what it’s doing to the tax free equity in your home.

The Mulholland | Ross Team always call agents who have shown our listings as well as those buyers who visited our open houses. It is amazing how many will comment on the smell of a smokers home first.

So, sorry to say, the comforts of your home may be the last place you ever want to light up.

Comments or ideas? We’d love to hear your stories.

Take a look at the Toronto Real Estate Board’s June Chart. Pay especially close attention the the 4th chart;  Average Resale Home Prices. The orange bar represents 2010 and you’ll find it to be well above the previous 4 years.

If you’re curious about your local market, take a look at the Board’s Market Watch for June 2010.  Refer to page 2 to establish your Real Estate Board district.  If you live in the central North York area you are most likely in C07, C14 or C15.

The local central stats can be found on pages 10 and 11.  For example, there were 121 active detached homes for sale in C07 in June. Thirty one of them were sold in June.  Approximately 25% of the inventory sold in the same month. The list to sale price ratio was 97%.

If you’re interested in discussing even more local values don’t hesitate to call, write or leave a comment/question here.

Join us this Saturday June 26th and Sunday 27th and consider these great new listings.

22a Franklin Avenue will be open both Saturday and Sunday between 2-4pm. Beautiful architectural open concept design just steps to Yonge St., Subway, Gwendolen Park and Cameron PS in the Yonge and 401 area.

38 Holcolm Road will be open on Saturday between 12 – 2pm and and again on Sunday between 2-4pm. Fabulous 3 bdrm home on quiet street close to Yonge, Subway and Churchill PS.  The perfect layout has the family size kitchen open to a large deck and fenced yard.

44 Bevdale Road will be open on Sunday between 2-4pm. Lovely and spacious 4+ bdrm with main floor home office and fully finished walk out lower level. Close to schools and subway.

We have many other exciting listings from starter/investment homes right up to the utmost in luxury and fine finishes.

If you’d like our  newest listings sent to you directly, be sure to sign up for our ‘FIRST TO KNOW’ e-letter and we’ll let you know of our listings before they hit the market.  SIGN UP

Curious about what options are available? Give us a call, send us a note or drop into our Open Houses!

If you’re considering a move, perhaps our personal moving consultation would be helpful. Call today.

Many home sellers presume they have until 6pm to leave their home on closing day but the standard agreement of purchase and sale clearly states that ” this Agreement of Purchase and Sale shall be completed NO LATER THAN 6Pm on the …day of”.   Both buyer and seller should be aware that the minute the buyer’s lawyer has transferred the funds to the seller’s lawyer, and the registration has been completed, the home is closed. That means, if a buyer’s lawyer efficiently closes the transaction at 1:00pm then the home is legally considered ‘closed’ and the Buyer is now legal owner of the home.

So what does a seller do if their moving truck is still loading up their stuff?

This is what I like to call ‘Moving Day Etiquette’.  We all know this day can be stressful – let’s not make it any worse for anyone!  I tell my buyers that if they show up with a key and the sellers are still moving out to please give them their space. Go get coffees and a pizza and just relax.  There is no point in getting angry or mad at anyone.  Or worse, don’t start moving your things in while others are trying to move out.

If it’s getting late in the day and you are concerned about additional moving costs etc., it is best to call your Realtor and allow them to work something out.

Just remember. Moving day can be a glorious exciting day (I won’t say ‘pleasant’, I promise). It is the beginning of life in your new home. Just relax. Breathe and know that it will all be over soon!

Had a great moving day experience? Let us know.

Check out these moving tips from one of our favourite Toronto movers.

Toronto’s ‘Spring’ market is in full bloom and many homes are continuing to sell quickly and at record high prices.

However, with inventory starting to creep up, home sellers will need to fully analyze their ‘competition’ (other homes for sale) and understand the buyer trends in their immediate neighbourhood to fully take advantage of what is still considered a ‘sellers’ market.

Mortgage rates went up a little; a new 5 year closed mortgage is about 4.10% and we expect to see them get closer to 5 before long. But we are still talking about unbelievably low rates and I just shake my head when I hear some news report showing a young couple stating that if rates hit 5% they will choose not to buy a home!  That’s right – they would prefer to just rent for the rest of their lives. That just doesn’t make sense.

Our sellers are seeing serious solid offers from qualified buyers; buyers who are anxious to take advantage of a mortgage rate commitment under 4%. We expect this type of buyer motivation to continue through June.

Many people are asking about what might happen with home prices when HST kicks in and the rates go up.

Keep in mind the HST will  not drastically change the cost of buying and/or selling a resale home (Realty Fees, Lawyer’s Fees etc. will be subject to the tax – NOT the price of the home.) Everything that is currently subject to GST will be subject to the combined tax

Buyers of new homes will have to take care when reading their contracts – don’t assume the builder or developer is going to pay the tax. It must be in writing, and we strongly suggest you to have your lawyer review the terms and clauses of your offer.

One thing we’ve learned during our 25+/-  years of real estate sales: Markets go up, then go down, then go up again…even higher.

The Mulholland|Ross Team have been helping families in your neighbourhood for over 25 years
and can guide you from start to finish.

Buying a big ticket item? TVs, Cars, Furniture and more will all have HST after July 1st. What will you do?

While it might seem logical that buyers would generally see all the great things in your home regardless of paint and organizing,  the reality is that many home and condo buyers cannot see past paint colours or wall paper designs. Yes, it’s true that most buyers will repaint the home once they take possession but that doesn’t mean that you should assume they can envision your living room without the dark green border trim or chipped corners and baseboards.

The same goes for your puffy balloon window treatments and piled high furnace room. While we know it doesn’t take much money to take down dated accessories the buyers have difficulty seeing through this stuff.  It doesn’t have to be too stressful…

Clean lines around windows and a tidy furnace room with a freshly painted floor helps the buyer realize that your home does not need loads of upgrades or endless renovations.

Before and After Powder Room

We tell our sellers ”how we live and how we sell our homes are two very different things”.

The Reality is Staging Does Work. And if your a home buyer, ’seeing past the paint will always help you find the best deal’. Read more about Eli and Enis who found the perfect ‘un-staged’ home and turned it into a show piece!

Homes that show well simply sell for more money.  I can’t say any more about this because it’s just the way it is.

Don’t panic or get overwhelmed – just be sure to call us before you start hiring stagers and spending money. Staging and preparing a home for the market does not have to cost much money.  In fact, we find most of our Sellers already have most of the elements to properly prepare their home – they just need a little help and our ideas and expertise.

We also have access to painters, handymen and cleaning personal, if required, to make your entire process a little easier to manage.

Do you have a home staging story you’d like to share?  Leave a comment or ask a questions.

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Statistics reported for the first two weeks of March 2010 indicate that Toronto is heading into an exciting Spring market!

Greater Toronto REALTORS® reported 4,353 sales through the Multiple Listing Service® (MLS®) during the first two weeks of March.  This represented a 70 per cent increase compared to the 2,562 sales recorded during the same period in 2009 when resale transactions had dipped markedly due to the recession. 

View charts comparing sales numbers and prices here.

We are expecting to see more new listings hit the market in the next few weeks which should offer some relief to buyers who have been trying to buy a home in a hot market.

We are curious to know what are you think might happen to Toronto’s real estate market in the coming months. Share your comments here.

These ‘move up’ homes don’t last on the market for very long. Now is an excellent time to move up to something larger and we can show you how!

63 Burndale Avenue is a 4 bdrm/5 bath home. Three wood burning fireplaces and a finished walk out basement inlaw suite.  Lovely tiered cedar deck is perfect for entertaining! SOLD

289 Ellerslie Avenue is a 4 bdrm/4bath sprawling bungalow on a spectacular 50 x 304′ south lot!   Fully finished lower level has a full walk out to park-like oasis. Excellent inlaw or nanny suite. SOLD

201 Ellerslie Avenue is a 4 bedroom/4 bathroom 9 year old home close to Yonge Street on a 300′ deep lot!  SOLD.

The best homes sell quickly!  Tell us what you’re looking for and we will help you find it or sign up for our ‘First To Know’ and find out about our best listings before they are sold!

Curious about sales and sale prices in your neighbourhood?  Send us a note or request more information here.

OPEN HOUSE FEB 27th/28th SAT/SUN 2-4pm

Generous sunken living room with open gas fireplace, hardwood floors and pot lights. The family room has a real wood burning fireplace! Warm Hardwood floors through main floor.

Modern family size kitchen with granite counters and built in desk area. French doors open to the party size deck and fully fenced back yard.

View More Pictures and Print Flyer or read more here

Vaulted ceilings with skylights and glass block accents adds style.

Large bedrooms with double closets. The master suite includes a walk in closet and bright marble ensuite with Jacuzzi style tub.

The lower level is fully finished to include a self contained inlaw suite or quiet home office area. Oversize windows allows for an abundance of natural light.

Tons of recent upgrades include new shingles ‘09, gas furnace ‘06, many new vinyl casement windows ‘08 etc.

Steps to Public Transit, Churchill PS, Willowdale MS, Yorkview French Immersion.

The perfect ‘Move Up’ home without paying the high New Home prices!