GTA Real Estate Archives

Toronto Neighbourhood Profile: Richmond Hill Community & Neighbourhood Profile From Frank Leo & Associates

Posted on April 30, 2020 | by getleo1 | Leave a Comment

Although it’s only a recent motto, “A Little North, A Little Nice” deftly captures the spirit of life in Richmond Hill since its early inception.

Located in the southern part of York Region and containing a population of nearly 200,000, Richmond Hill is one of the GTA’s popular commuter suburbs that combines a slower pace of life with close proximity to the big city.

While modern suburban development is what makes it a comfortable and quiet place to live today, Richmond Hill has in a sense always been true to the slower pace of life.

The Beginning of Richmond Hill

While the name “Richmond Hill” wouldn’t grace the lips of residents for decades to come, its first settlers were the Munshaws : a family of 7 from Pennsylvania arriving in the spring of 1794 in search of a place to call their own.

They cleared themselves a plot of land in the modern-day Elgin Mills area where they welcomed the first European-born resident of Richmond Hill – their daughter Susan. Despite a large and growing family the isolation proved too great and they relocated to an area closer to Highway 7.

Over the course of that year several other settlement attempts were made, but issues with land claims, crop failures, and citizenships drove them all to be abandoned. The first permanent residents of the area came a few years later to occupy the Northeast corner of Yonge St. & Major Mackenzie Dr.

Since the land was allotted and parcelled, a successive string of settlers were granted lands by the Lieutenant Governor John Graves Simcoe in order to develop the area. These early residents were either being rewarded for military service with land or otherwise believed to be capable of fostering prosperity in the growing settlement.

The initiative was part of the Lieutenant Governor’s special plan for Yonge St. which excluded crown and clergy reserves and made all of Yonge available to settlers.

It’s largely due to this plan that Yonge St. is the artery connecting the northern GTA and that we still have stretches of it which feel like small town main streets. Once such place is just north of Major Mackenzie Dr. at Centre St.

Becoming Miles Hill

By the turn of the century, English and German speaking settlers who came to the area were calling it “Miles’ Hill” after a prominent local settler Abner Miles and his son James.

The younger Miles excelled as a community leader, serving both as a justice of the peace and a lieutenant during the war of 1812. Although his name is no longer attached to the place he worked so hard to support, a testament to his sustained effort stands near the Yonge/Major Mackenzie intersection.

Miles invited a Presbyterian minister to set up a parish for the community and the church they built would eventually turn into Richmond Hill Presbyterian Church, which serves the community to this day.

Transforming Into Richmond Hill

While there’s no conclusive record of exactly when and how Miles’ Hill changed to “Richmond Hill,” several explanations exist.

One story has the name coming from the city’s first schoolteacher, Benjamin Bernard. Apparently homesick for his native Richmond Hill in England, Bernard would lead his students in performances of the song “The Lass of Richmond Hill.” The song’s popularity spread, perhaps as far as to have a city named after it.

Another proposed origin for the name comes from Governor General Charles Lennox, 4th Duke of Richmond. It’s said that following his personal visit to the settlement in 1819 the village was renamed to Richmond Hill in his honour.

Regardless of the origins of its name Richmond Hill was coming into its own as a prosperous farming community by the mid 1800’s, due in large part to the trade and travel infrastructure provided by Yonge St. As a sort of mid-point between York and Holland Landing, Richmond Hill proved a convenient stop-over for stage-coaches making the trip between the two other towns.

Indeed, by 1836 Richmond Hill had everything a town needed – a store, a schoolhouse, a church, a tavern, a post office, and more. It was this latter feature which cemented the name “Richmond Hill” into the history books.

Since the postal district needed a name, the postmaster used Richmond Hill and from then on the name has been officially recognized.

Now appearing on maps and gaining wider exposure, Richmond Hill saw a real population boom. During this period the town was seeing annual population growth of up to 9%.

Of course with increased demand, Richmond Hill real estate value went up and attracted more affluent settlers who in turn built larger homes and estates.

Trying Times For Richmond Hill

The 19th century was a period full of trials for Richmond Hill and its residents, most of which stemmed from the characteristics that continue to make it a unique and appealing place to live.

Whereas most settlements in this era of Canadian history grew around a primary intersection, Richmond Hill grew along the linear stretch of Yonge St. Shops and businesses sprang up along this thoroughfare and as a result Richmond Hill doesn’t have a historical downtown district like many other Ontario towns.

Because this one street was so important to Richmond Hill’s sustained growth, modernizations and developments affected the city for better and for worse.

Businesses, predominantly inns and taverns, would have boom and bust cycles. Initially, Richmond Hill’s location proved an asset for its economic growth since travellers leaving Toronto would naturally stop over looking for a meal and a good night’s rest.

However, the grand Yonge St. project wasn’t without its problems. Financially, it was disastrous and even the toll charged to travellers wasn’t keeping it solvent. When the Ontario, Simcoe, and Huron Railway opened in 1853, Richmond Hill sustained a significant loss in Yonge St. traffic and had to adapt as travellers now had an alternative route for travelling north of Toronto.

The railway line had a stop in Richmond Hill, but it wasn’t centrally located. It was about 6 kilometres east of Yonge St. along the then-unpaved Major Mackenzie Rd., closer to where Headford lies today. Certainly not a journey weary travellers would be keen to make when seeking respite from their journeys.

While traffic on Yonge St. declined by up to 25% when the railway opened and a decline in business was felt, there remained a market for travellers coming from neighbouring communities or travelling by coach. Local trade continued and prevented other neighbouring towns from swallowing up Richmond Hill into their municipalities.

Modern Richmond Hill

The turn of the century brought more trying times to Richmond Hill, but things changed almost immediately upon the arrival of the electric railway. Although carriage-trade businesses failed, the rest of the economy grew by 35% over the course of just a few years.

The Town of Richmond Hill made a deal with Toronto and the railway companies to sell power from their Bond Lake power generator, solidifying the town’s economic prospects. Bond Lake Park was even the first park in Ontario to have electric lighting.

As this new form of transportation extended north and proliferated throughout the area with new routes for both freight and passenger transport, it seemed inevitable that Richmond Hill would become a suburb of Toronto.

Despite all of this prosperity, it wasn’t until the 1970’s that modern amenities reached many of its parts. Areas annexed into Richmond Hill when the Regional Municipality of York was established in 1971 were still without water mains, sewers, or streetlights, and connected by dirt roads.

That would soon change as Richmond Hill saw explosive population and real estate growth which continues to this day thanks to globalization and immigration. In fact, during the mid-70’s Richmond Hill had some of the most expensive real estate prices in Canada.

Curiously, Richmond Hill wasn’t officially re-classified as a city until 2019 even though it experienced such explosive growth over the last 30 years. During the 90’s it had the fastest growth rate in Canada.

Modern Richmond Hill

Although Richmond Hill has come a long way from a small rural settlement it’s still known as a quiet, comfortable place to raise a family in Ontario. Some of its younger residents might go as far as saying life in Richmond Hill is boring – especially next to the allure of Toronto – yet one thing Toronto can’t offer them is the large homes, backyards, recreational amenities, and close sense of community.

Residents can take advantage of the numerous local amenities like pools, skating rinks, and sports fields or take a drive to places like the Blue Mountains where skiing, hiking, and nature abound. It offers a highly-diverse and family oriented community that’s welcoming for lifestyles of all kinds.

Real Estate In Richmond Hill

Thinking of buying or selling property in Richmond Hill? Let Frank Leo & Associates be your guide. As the #1 Real Estate Team in Toronto & The GTA* we can help you achieve your real estate goals.

Whether you’re looking for your dream home in Richmond Hill or you’re thinking of selling property, a team member would be happy to help review your options.

You can take the first step by getting in touch with us directly, browsing current Richmond Hill real estate listings, or claiming a FREE, no-obligation home evaluation.

Newmarket, Ontario: Neighbourhood and Real Estate Profile from Frank Leo & Associates

Posted on April 30, 2020 | by getleo1 | Leave a Comment

For 200 years people have been living in and passing through what we now call Newmarket, and while initially it’s big appeal was the Holland River which allowed people to travel between Lake Simcoe and Lake Ontario, today we can enjoy the same trip via the 404 Expressway connecting Barrie and the GTA.

It’s comforting to know that despite all of the transformation in Newmarket’s long history, this town of about 85,000 residents remains a strong community which offers a nice respite from the trendy city living more common to Toronto or Barrie.

Early Uses of The Newmarket Land

As part of one of the main transportation routes for traders, trappers, and settlers in the area, Newmarket already had a fair bit of traffic – practically as far back as settlers came to this part of North America.

It was one of two branches on the Toronto Carrying-place Trail, the major portage route which began at Lake Simcoe, passed through Newmarket, then passed over the Oak Ridges Moraine into the Rouge River until it finally reached Lake Ontario.

Following this trip along the lesser-used eastern route through Newmarket in 1793, John Graves Simcoe deemed the Newmarket route the superior of the two options for travellers heading south to York and began building Yonge Street in 1975. Work began in Toronto Bay and the street extended all the way up to Holland Landing, immediately north of Newmarket.

More Permanent Settlement In Newmarket

While the Newmarket area was being used as a transit route and settled in the Holland Landing area, the foundation for modern Newmarket was laid by unexpected figures. Americans. American Quakers to be exact.

A group led by the Vermont Quaker Timothy Rogers were seeking a place to settle in the North to escape America’s revolutionary struggle.

By 1803, Rogers and a compatriot named Samuel Lundy had secured a large swath of 8,000 acres of land and made what would become Canada their permanent settlement.

It was around Fairy Lake that the seed of Newmarket was sown by one Joseph Hill, a settler who constructed a mill and dam the produced the lake which residents still enjoy to this day.

Other settlers unsurprisingly built homesteads around this agricultural resource. Because of this early historical detail, Newmarket’s downtown remains just north of Fairy Lake Pond in the form of Main St. instead of following Yonge Street several hundred meters to the west.

The Settlement Grows Into A Town – “Newmarket”

Over the course of several years, another prominent local landowner named Elisha Beman opened a successive series of businesses to serve the local community. Among them was a distillery, and although it’s not in operation today the area is still the commercial centre of Newmarket.

A wave of prosperity during the War of 1812 led into rapid growth during the 19th century, much of it stemming from inter-city commerce. In fact, following the establishment of Aurora and Holland Landing the settlement began holding regular markets, giving rise to the name we use to this day: Newmarket.

Growth, Development, and Conflict In Newmarket

Although the Quakers founded Newmarket to escape the challenges of war, it would unfortunately reach the village regardless, albeit in a different form.

Newmarket was the venue for rebel activity during the rebellions of 1837-1838. Discontent grew among the local farmers who saw the government as robbing them of the fruits of their labours. In fact, rebel leader and former mayor of Toronto, Willian Lyon Mackenzie gave his first campaign speech at the corner of Main & Botsford.

While King & his revolutionaries met a tragic end, Newmarket continued to flourish. By mid-century it had grown to over 500 residents, six places of worship, and even a post office. It wasn’t lacking in industry either, establishing its candidacy for a railway stop.

The 1st railway in Upper Canada, Toronto, Simcoe & Lake Huron Union Railroad, stopped in Newmarket and shipped passengers, agricultural products, and manufactured goods to the rest of Canada. Newmarket was living up to its name as a centre for industry in young Canada.

This heavy rail line would adapt over the course of its working life, first switching to serve a major conduit between Toronto & Collingwood and finally becoming incorporated into the Canadian National Railway.

Today, commuters can even enjoy the convenience of GO Transit Service from Toronto along the Barrie Line.

Turning Into A Town

10 years before Canada’s Confederation Newmarket was officially incorporated as a town. Already the transition from subsistence to a more cosmopolitan way of life was developing. Around this time Downtown Newmarket got its first department store, which incidentally lived on and developed into the Simpsons chain of stores, itself later swallowed up by The Bay.

It’s some solace to think that today’s Upper Canada Mall location at Yonge & Davis Dr. isn’t far from where Newmarket’s first commercial centre was located.

From the late 1860’s, the town saw steady growth from a population of 1500. Perhaps it was increased local transit options or the reputation it gained as a prosperous place to live, but less than 20 years later the population jumped by another 25% and the town had its own elementary and high schools.

Newmarket Coming Into Its Own

Along with the arrival of the Toronto and York Radial Railway at the turn of the century came a wave of visitors looking to see something new outside of Toronto. It was the first time leisure travellers could reach the city so easily and in such numbers, and although the railway line just brushed past Newmarket, their presence brought significant economic benefits to the city.

Increased automobile traffic on Yonge Street had a similar effect and as cars grew more popular the railway was discontinued. The Yonge St. artery also began pulling real estate development in the town. A glance at the map of today’s Newmarket shows how the city’s primary commercial real estate space is concentrated around the intersection of Yonge St. and Davis Dr. W.

The early 20th century also brought other transportation transformations, the remnants of which can be seen to this day. A stretch of the East Holland River was straightened so it could be used to ship goods in place of the railroad, which was getting far too expensive to be viable.

Remnants of the canal system running through to Lake Simcoe can still be seen to the north of Newmarket. This waterway was devised to give boats access to the Trent-Severn Waterway, and although it was initially promising the project was cancelled by the incumbent government.

What was meant to be the canal’s turning basin in downtown Newmarket was filled in and now serves the community in a different way – as the parking lot to the Tannery Mall, itself located on the site of the Davis Hill’s Tannery from Newmarket’s inception.

This abandoned canal project in many ways symbolized the advent of modern Newmarket. Concrete, cars, and modern commerce replaced the old ways of life and drove Newmarket into the contemporary era.

Life In Newmarket Today

As of the latest census Newmarket’s population rests at around 85,000 residents, a far cry from the tiny settlement which served as the cradle of commerce, trade, and even rebellion.

Yet one thing remains constant, and that’s the city’s importance as a stopover hub between Barrie and Toronto, though these days most of that travel happens via Highway 404 and Yonge St.

Although Newmarket is part of Great Toronto and solidified its status as a bedroom town in the 1980’s, its location in the Golden Horseshoe still attracts more rural and agricultural citizens. A return to agrarian life may not be in Newmarket’s future, but residents can still enjoy a quieter pace of life and respite from the pace of major metropolitan Toronto.

In addition to the town’s historical district, Newmarket offers numerous conservation areas and parks where people can get even closer to nature. Wesley Brooks Conservation Area and Rogers Reservoir are conveniently located near town, but lovers of the outdoors don’t have to go far to find even more green space, golf, or hiking to enjoy.

Newmarket has undergone tremendous modernization to become the city it is today, but in many ways not much has changed. It’s still a relatively quiet place to live, work, and raise a family without being too far away from it all.

Buying or Selling Real Estate In Newmarket?

Are you considering moving to Newmarket or perhaps relocating within the city?

Get expert real estate advice from Frank Leo & Associates to plan your next real estate move. With decades of experience buying & selling real estate in the Greater Toronto Area as well as a million-dollar marketing system to get your property sold GUARANTEED, we’re here to help no matter what your real estate venture may be.

Contact one of our representatives for help finding your dream home, browse current listings in Newmarket, or get started selling with Frank Leo & Associates by claiming your FREE home evaluation right now.

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Home Seller’s Checklist: What You Should Take Care of Before Selling Your Home in Toronto or The GTA

Posted on November 30, 2018 | by getleo1 | Leave a Comment

Selling your home in Toronto or The GTA requires planning, organization, and more work than many people realize. This home seller’s checklist will help you keep track of all the tasks that need to be done when selling your home in Toronto or The GTA.

To deal with the workload and ensure everything runs smoothly for the buyer, seller, and any intermediaries, many people chose to hire a real estate professional – but whether you are working with a real estate agent or not, our home seller’s checklist will help you get acquainted with what needs to be done.

If you’re selling with an agent, it still helps to know what needs to be done and when. Although a good real estate agent has processes in place and covers all of the necessary tasks for you, being aware of what’s going on can only help.

This checklist will help you maximize your chances of getting the best value when selling your home. Understanding the checklist will allow you to help your real estate agent highlight your home’s strengths on the market.

Your knowledge of the house combined with your agent’s understanding of real estate markets, preparing your home for sale, and marketing is a combination for success.

Home Seller’s Checklist Categories

We break our checklist down into several sections. Segmenting everything helps keep your process organized, although there may be some overlap between the sections.

The primary categories on this list are:

Documents
Before Listing
Home Improvements
After Listing
Depersonalizing
Outside Your Home
Your Home’s Interior
Air Quality/Pets
Special Considerations

You may already have a firm handle on many of the sections on this list. If so, you can still skip through the different sections to find the information you haven’t considered or haven’t done yet.

At the very least you’ll have double checked all of the consideration you should take into account when selling your home in Toronto or The GTA.

Home Seller’s Checklist Tasks – Keeping Track of Documents Before You Sell Your Home in Toronto

Selling a home takes paperwork. Having these documents identified and organized, whether that’s in hard copy or digital form, will get you through the home selling process much faster.

Keep a list detailing each document and its status. Since some of these documents might be with your attorney or real estate agent for security, it can be helpful to make notes about where each document is kept. In the event you can’t locate a document this list will be indispensable.

For hard copies, create folders and label them accordingly. Keep them in a secure place. Below you’ll find the main real estate documents you’ll need to sell a house:

◽ Do you have your home’s original sales contract complete with the purchase price?

◽ The deed to your home

◽ Any home surveys you’ve had done (professional inspection reports)

◽ Your professional home appraisal (when you bought the house and the current home evaluation)

◽ Receipts from your property tax

◽ Completed renovation contracts or documentation of home improvements

◽ Warranties (only if they are transferable)

◽ Insurance records

◽ Any warranty information or manuals relating to appliances which are part of the sale

Documents You’ll Need After You Sign A Listing Agreement When Selling Your House

Once you’ve got the documentation regarding the home sale in place and you have found an agent, together you’ll need to assemble various documents for different points in the home selling process. They will include:

◽ The agreement with your real estate agent and a collection of your written communications

◽ A list of all the professional service providers you deal with during the course of your home sale. These include contractors, movers, plumbers, etc.

◽ Any documents your lawyer will need

◽ Documents for your tax accountant

Before you List Your Home For Sale in Toronto or The GTA

Getting all the facts recorded and organized before listing your home for sale is crucial to a smooth home sale. It’s best to have all information before you get into listing or negotiation. If there are problems the must be addressed, you can deal with them before they are a disruption.

Your real estate agent will be in a better position to negotiate in possession of all the facts. In order to make an accurate home evaluation and have a solid foundation for the asking price.

Major repairs should all be completed before putting it on the market. Being proactive also sends a good message to buyers and agents and makes it easier to work with them.

If you want a recommendation for a home inspector, your real estate agent is the best place to start. Here are some of the points to consider before you list your house for sale in Toronto or The GTA.

◽ When was your house built?

◽ Is your home’s electrical wiring in good order? (e.g. lights don’t flicker, breakers and fuses don’t blow)

◽ What type of wiring do you have? (e.g. aluminum or knob and tube)

◽ Is there a fusebox/electrical panel?

◽ Is the plumbing in good order?

◽ When was the furnace last replaced/installed?

◽ Are the furnace filters often replaced?

◽ Is the home equipped with a water softener?

◽ Is the roof well maintained?

◽ Are the windows energy-efficient and well maintained?

◽ Are there any defects in the foundation?

◽ Are there water problems of any sort (including mold and/or mildew)?

Consider General Updates & Repairs Before Selling Your Home in Toronto or The GTA

There’s always room for improvement. Your home inspection and realtor may give you an idea of where it’s a good idea to invest resources when it comes to home updates or repairs.

Remember that while repairs are typically important to do to maximize your chance of getting top dollar for your home, not all updates will provide an equal return on investment. Upgrades don’t have to be major overhauls, and a little update can go a long way.

Work with your real estate agent to prioritize what needs to be done within your budget in order to improve your home. From the buyer’s perspective, the less work they have to put in after they buy a home the better. Make sure your home is in turn-key condition and move-in ready and you’ll be more likely to find a buyer.

◽ Here are some points to consider regarding home upgrades and repairs:

◽ Have you established a timeline?

◽ Do you have a budget set aside for essential repairs and potential upgrades?

◽ Are there any updates or repairs you have been putting off? It may be sensible to take care of these first.

◽ Are there any essential repairs?

◽ Are the windows and doors in good condition?

◽ Are permanent light fixtures in showing condition?

◽ Do your doors and trim appear new?

◽ Are there any holes or cracks in the walls?

Catch our article about cost-effect energy saving updates that you can expect a return on when selling your home in Toronto or The GTA.

Once You’ve Listed Your Home, Get Organized Before You Or Your Agent Stage Your Home For Sale

After you’ve found the best real estate agent for you, had your home inspected, and completed the first part of the checklist, it’s time to move on to getting your home’s interior organized.

Preparing a home to sale is likely to increase the odds it will sell in a good timeframe for a great value that you will be happy with.

Here’s what you should think about when you and your agent are preparing to stage the home:

◽ Is there clutter in any part of your home?

◽ Does the house look immaculate and clean all throughout?

◽ Are personal items and things you don’t need when selling your home away in storage or at your new residence?

◽ Have you stored non-essential items off the premises or in a discreet place?

◽ How does the garage and/or other storage areas look?

◽ Is the basement tidy (if it is used for storage)?

Removing Personal Items Before Selling Your Home

An essential part of home staging is making potential buyers who visit the property feel like they are in their future home, not someone else’s. Although we don’t believe in intrusive open houses at Frank Leo & Associates, when we bring qualified leads to a property we stage it beforehand so they can project their future lives into the space.

◽ Personal items like pictures, unique furniture, and other items can interfere with buyer experience and even cost a home sale.

◽ Here are the points you should consider when depersonalizing the property:

◽ Don’t keep any personal photographs on walls, mantles, etc.

◽ Pack away all books, music, or magazines which don’t appeal to a mainstream audience

◽ Keep memorabilia out of sight

◽ Any children’s items (toys, books, etc) should be neatly organized or stored away

◽ Any potentially offensive items should be removed from the residence

For more tips and insights about staging your home for sale in Toronto & The GTA you can refer to our Home Staging Guide. Frank Leo & Associates have gleaned these insights over 3 decades selling billions of dollars worth of real estate for 1,000’s of satisfied customers in Toronto & The GTA using our Guaranteed Home Selling System.

Curb Appeal When Selling Your Property

The first impression your home makes – whether through Toronto & GTA MLS Listings or in person – is often hard to overcome if it’s not positive.

Although the front yard and face of the home are important, make sure you don’t discount the sides of the home as well as the backyard. These are not to be overlooked, since many people will form an impression of how well the home is maintained based on its exterior.

The exterior is your opportunity to get potential buyers excited about viewing your home. It also gives your real estate agent and photographer ample material to work with for the promotional photography.

Here are the main points regarding your home’s exterior you should think about before selling:

◽ Does the exterior need any major repairs?

◽ Does the exterior need any minor repairs?

◽ Are there any festive or seasonal lights or decorations which need to be taken down?

◽ Are the front, side, and back yards neat and tidy?

◽ If it’s winter, are walkways and paths free of snow and ice?

◽ Have you made a list of everything that needs to be addressed in order of priority?

Maximizing the Appeal of Your Home’s Interior Before Selling

So far we’ve covered depersonalizing your home’s interior spaces and thought about curb appeal, but now you need to make sure every room and element of your house is arrange in a way that maximize appeal to interested buyers.

From flooring, to paint, to the way each room is arranged, each element of your home will be under scrutiny. Here are the things to consider before your agent shows the property to potential buyers. We’ll break them down into individual sections relating to the major parts of your home to evaluate.

Preparing Your Home’s Main Rooms for The Sale

Nobody’s home will be perfect, but there are many things you can do to keep buyers interested when they’re touring your property. The general idea is to show buyer’s what they are looking for, not what they will have to do in order to make the property suitable for themselves.

The small details can often make a big difference, and together they could be more significant than one single but more glaring issue. It’s easier for a buyer to see one thing they want to change and think it will be easy to take care of than for them to be overwhelmed by countless small details they’ll have to alter after the sale.

The longer the potential buyer’s to-do list of things the want to change, the further down the list of homes they’re considering buying your home will sink. Home buyers are happiest with turn-key, move-in ready homes.

Here’s what you should consider to give your prospective home buyers a home they can move right into and feel at home:

The Foyer

◽ Does the home’s entryway feel inviting?

◽ Is the entry spacious and well organized?

◽ Does it reflect the character and appeal of the home?

◽ How does the rest of the home look from the perspective of the entryway?

◽ Are personal items such as shoes, coats, etc. packed away?

Kitchen

◽ Does the kitchen look appealing when you walk in?

◽ Are there too many appliances/accessories like blenders, microwaves, or other gadgets?

◽ Has clutter been removed from the countertops/island?

◽ Are all of the surfaces sparkling?

◽ Is the fridge spotless (exterior and interior)

◽ Is the stove clean (exterior and interior)

◽ Do the appliances match and create a sense of consistency?

◽ Are the cupboards functional and looking tidy?

◽ Is there anything that could use some updating?

◽ Are the floors well-maintained?

◽ Are the sinks sparkling?

Living Room

◽ Is the living area inviting and comfortable in appearance?

◽ Is the furniture arranged nicely and in good repair?

◽ Has any excess furniture been removed and stored away?

◽ Is the room’s decor neutral?

◽ Are pet and children’s toys put away?

◽ Are entertainment consoles and wires all arranged neatly?

◽ Is the room open and full of natural light?

◽ Is the shelving clean and well-ordered?

◽ Are window coverings open to let in sunlight?

◽ If you have a fireplace, is it arranged neatly and cleaned?

◽ Has everything been thoroughly vacuumed and dusted?

Dining Room

◽ Is it clear the space is meant for dining?

◽ Is the centrepiece furniture elegant and matching the rooms decor?

◽ Are all of the components of furniture arranged properly?

◽ Is an upgrade or repair in order?

Master Bedroom

◽ Does the master bedroom evoke a sense of relaxation and comfort?

◽ Is the colour palette consistent and neutral?

◽ Are the pieces of furniture arrange well?

◽ Is there anything that could use an update?

Basement

◽ Does the basement have a specific purpose or use other than storage?

◽ Is that evident when you enter the space?

◽ If the basement is finished does it have the appropriate furniture for its purpose?

Bathrooms / Powder Rooms

◽ Are all surfaces clean?

◽ Is the counter neat and free of clutter and personal items?

◽ Are faucets clean and working properly?

◽ Have all tub and shower surfaces been cleaned?

◽ Are the towels fresh and neatly arranged?

◽ Are any storage areas clean?

Evaluate Your Home’s Paint Before You Sell

The paint on the walls of your home takes up a great surface area and can have a big impact on buyers. Painting a room is a big enough job on its own, so painting a whole tasks is a mammoth undertaking in the minds of potential buyers.

If buyers don’t like it for whatever reason it alone can cause them to form a negative association and pass on buying your property. Fresh, neutral-toned paint is the best way to go. It allows buyers to easily project their vision of how it will look as their space and it’s easy to paint over.

With a neutral palette your buyers will be able to comfortably live in the house before deciding if they want to redo the paint jobs.

◽ Have you recently painted the house?

◽ Is the paint chipping, discoloured, or otherwise in decay?

◽ Do the walls have loud colours which need to be painted to more neutral tones?

◽ Although the walls have neutral colours do they need a fresh coat?

◽ Do the rooms have a consistent colour scheme throughout? (e.g. cool or warm)

◽ Are any of the walls covered in wallpaper? If so it should be removed and replaced with a neutral paint colour.

◽ Do any finishes (e.g. doors, trim, wainscotting) need a new coat of paint or new colour?

◽ Do any of the ceilings need fresh paint?

◽ Are any of the surfaces covered in dirt or fingerprints?

◽ Any residue from tape, thumb tacks, or nails?

Check Your Home’s Flooring

A home’s floors can be a good indicator of how well the previous owners have maintained the property. Scuffed, poorly kept floors can give buyer’s the impression that other parts of the house aren’t in great condition either.

Having nice flooring all throughout is a good indicator that a home is move-in ready. With that in mind, here are the key points you should knock of your to-do list when it comes to your home’s flooring.

◽ Does your home have carpeting? If so, what condition is it in?

◽ What colour is the carpeting in your home?

◽ What is the carpet’s style (e.g. cut pile berber)?

◽ Do any of the rooms that don’t have carpeting need it?

◽ Which carpets need to be replaced – All rooms of just a few? (if only a few rooms need new carpeting make sure you chose something that works with the rest of the carpets)

◽ Does any of the carpeting have hardwood underneath?

◽ Is there vinyl flooring?

◽ Does any vinyl flooring need to be replaced?

◽ Do you have hardwood floors?

◽ Do the hardwood floors need to be refinished?

◽ Any places with excessive wear or water damage?

◽ Are all area rugs strain free?

Furniture & Other Accoutrements

Removing too much furniture makes a house feel empty and not livable while leaving too much or not arranging it properly create clutter. The happy medium is having the right number and type of furniture in each room arranged in such a way that brings out the rooms strengths and favourable qualities.

Keep in mind that the furniture should be arranged with the showing in mind. Arrange things according to the flow of how buyers will move through the house, not necessarily what is most comfortable or convenient for residents.

◽ Don’t forget to light everything properly to place emphasis on each room’s most attractive features.

◽ Here’s what you should consider what arranging and placing furniture in the house your selling:

◽ How much furniture does each room have in it?

◽ What is the placement of each piece of furniture in the respective room?

◽ Is your furniture in good, showing condition?

◽ Do you think you need to replace or rent furniture to replace furniture with wear and tear?

◽ Is there enough light in each room and are the bulbs appropriate wattage?

◽ Are all of the bulbs working properly?

◽ Do all switches work correctly?

Doors, Windows, & Finishes

Elements like windows, doors, and finishes are elements of your home which can serve as accents that really accentuate a room’s charm. If they’re in disrepair or mismatched, they can unfortunately have the opposite effect.

Here’s what to consider when evaluating whether any of your home’s finishes need a once-over or replacement:

◽ Do any doors have chipping paint or need new paint or replacing?

◽ Do all the doors open and close smoothly?

◽ Are the handles and locks moving smoothly?

◽ Do any of the doors creak?

◽ Do any frames or doors have smudges?

◽ Do any screens have holes?

◽ Are all of the windows clean and streak free?

◽ Is there any damage to any of the windows?

◽ Are all of the window latches and other hardware working?

◽ Are all of the seals in place?

◽ Are the curtains, drapes, and/or blinds all clean and elegant?

◽ Do any of the homes finishes (e.g. wainscoting, crown moulding) need attention?

Air Cleanliness & Pets

Your home’s air quality can have a big impact on your home sale. Even with new HVAC your home could have an atmosphere which is normal to you but not what most buyers are used to. It’s particularly common for properties which are home to pets to have this problem.

It is important to ensure your home has a neutral atmosphere to maximize its appeal to buyers. Odours can get trapped in carpets and furniture, mean it might be necessary to rent or buy new furniture or do some minor renovations.

◽ Is your homes HVAC (Heating, Ventilation, & Cooling) running smoothly?

◽ Have you inspected your smoke & carbon monoxide detectors and confirmed they are in good working order?

◽ Are there any lingering smells or odours permeating your home that you could eliminate?

◽ Do you often cook with strong seasoning or foods with strong odours?

◽ If you have pets around keep them somewhere else while showing the house. If not try to keep them and their items out of sight during showings.

◽ Remove signs of your pet including food, toys, accessories, etc.

If You’re Selling Your Home During The Holidays

Although you shouldn’t let the sale of your home stand in the way of holiday celebrations you should celebrate in a manner which won’t adversely affect your chances of attracting buyers.

For example holiday decorations and religious items should be stored away immediately following your celebration and not kept out in the open. Although some home sellers think adding a festive touch makes a home more inviting, it’s best to leave these items out of site at all times.

◽ Here’s what you should consider regarding holidays, celebrations, and your home sale:

◽ Are you selling your home around the holidays?

◽ Is it a festive time of year/ are there holidays taking place?

◽ Do you have decorations hanging around/inside your home? If so take them down for showings/photography.

◽ Keep the decor only for the celebration and remove everything after your festivities are done

Keeping Track Of Everything When Selling Your Home in Toronto & The GTA

There you have it – the checklist for selling your home in Toronto or The GTA. The list may seem daunting, but keep your list current by checking items off the list and you’ll get peace of mind that your sales process will run smoother.

Thinking of selling your home in Toronto or The GTA?

Consider working with Frank Leo & Associates. Led by the #1 Individual RE/MAX Agent in the World, our Team has helped 1,000’s of Torontonians get top dollar value for their homes over 30 years. We’ve sold billions of dollars worth of real estate and are proud to serve the region.

You can get started with us by getting a FREE, no-obligation home evaluation in Toronto or contacting us with any Toronto real estate questions.

Image of a bag of money being exchanged for a house to illustrated buying a house as a millennial.

Advice For Millennials Thinking of Buying a House In Toronto Or The GTA From Frank Leo, The #1 Individual RE/MAX Agent in the World

Posted on August 17, 2018 | by getleo1 | Leave a Comment

With almost 65% of millennials saving money with the intent of buying a house in Toronto or elsewhere, we want to provide first-time homebuyers with the best possible advice and insights when it comes to what could be the largest financial decision of a lifetime.

Taking the right approach when investing in Toronto real estate can make a tremendous difference in your adult life. This goes for buying as an investment or as a primary residence. A small mistake could mean the difference between a benchmark investment and an issue plaguing your finances for years to come.

Remember that Frank Leo & Associates, the #1 RE/MAX Team in Canada** led by the #1 Individual RE/MAX Agent in the World* are here to answer you Toronto real estate questions at any time. If you have any questions about home ownership that are outside the scope of this article, don’t hesitate to reach out and contact us.

Benefits of Being a Millennial Owning a House in Toronto

If you’re considering buying a home in Toronto & the GTA, you’re no doubt aware of some of the many benefits it can provide. You can use it to generate income, use home equity as collateral, or sell at a profit.

For some people, the feeling of not paying rent anymore justifies the commitment of paying for a house.

However, before you make that commitment, which is significant, you should be aware of everything that comes with it. Going into a big decision like buying a house blind is a sure way to make life difficult for yourself.

Understand What Buying a House in Toronto & The GTA Involves

Owning a house is a big responsibility, both financially and in terms of your day-to-day life.

In maintaining a house and the grounds takes a lot of work. It can be a bit of an adjustment for the uninitiated.

It could also limit your mobility when it comes to travel. If you plan on going away for a longer period of time the house will need maintenance.

In terms of finances, buying a house with a mortgage makes it a big financial responsibility. Missing mortgage payments, or in the worst case defaulting on your mortgage can leave you bankrupt and throw your financial future into turmoil.

For that reason taking out a mortgage is not a decision to be taken lightly or without completely thinking through your plans.

Some of the questions you should ask yourself when thinking of buying a home in Toronto or The GTA include:

– Are you able to afford owning a home in Toronto & the GTA?

– Can you continue to make mortgage payments even after a change in income?

– Do you have the financial means to put in a good enough down payment to support the rest of the costs needed to be payed?

– Is your current debt a heavy burden?

– Would it benefit you to wait for more favourable market conditions or until you have more savings?

– Have you considered ALL of the costs associated with buying a house?

– What kind of a mortgage should you take out?

If you’re seeking advice on buying your first house in Toronto & the GTA, Frank Leo & Associates would be more than happy to provide expert guidance. FOLLOW HERE TO CONTACT US or Call (416)917-5466.

Financing Your First House in Toronto & The GTA If You’re a Millennial

Many millennials think of the Toronto & GTA Real Estate market and wonder if they’ll ever be able to afford a house. Although Toronto & the GTA house prices go up and down, the market is seen as inaccessible to young people in much of millennial culture.

In reality, many millennials could afford buying a house with a mortgage while taking advantage of some of the financial incentives the Government has instituted to help first time home-owners.

For example, the First-Time Home Buyer’s Credit (FTHBC) introduced by Revenue Canada in 2009 is a terrific place to start when it comes to easing the financial stress of buying a house in Toronto. If you’re a first-time homebuyer thinking of buying a house in Toronto check if you meet the requirements and whether the house qualifies for the credit.

The 15% income tax credit and other credits you may be eligible could mean the difference between affording the home and saving for a few more years.

Is It The Right Time To Buy A House in Toronto & the GTA?

Timing can play a big role when it comes to buying a house in Toronto. Determining when is the right time is a personal financial decision based on:

The conditions of the Toronto & GTA Real estate market. Houses could be exceptionally expensive or more affordable
Mortgage rates. Depending on the state of the mortgage industry, interest rates on the money you’re borrowing to buy a house could be relatively high or low
Your financial situation. Is it a good idea to buy now or save for a bit longer?
The Right House. Have you the perfect home for you?

There is no one-size-fits-all approach to answering these questions. It comes down to your current situation, your financial plans, and what your plans are for the future. When it comes to financial planning you can seek out the help of a professional, but in regard to any of your Toronto real estate questions you can count on Frank Leo & Associates.

Our award-winning real estate service has helped 1,000’s or people find their dream homes in Toronto & The GTA over three decades. Reach out to us to learn more about how we can help make your real estate dreams a reality.

Making Your Down Payment When Buying A House in Toronto & The GTA As A Millennial

In addition to other home-ownership costs, mortgage insurance is another expense you will have to pay on a monthly basis if you don’t own 20% equity. In practical terms, that means anyone buying a house who makes less than the traditional 20% down payment will have to buy this insurance.

Mortgage insurance protects the lender from losses if you are suddenly unable to make mortgage payments.

Making a larger down payment also means you start out with a higher share of equity in the property. Having more equity gives you more financial options in the future.

Remember the Stress Test

In order to be approved for a mortgage in Canada you need to undergo a financial stress test. As of October 17, 2016, this stress test is mandatory for all insured mortgages in Canada, even if you make a 20% down payment.

Historically this test only applied to people making a downpayment of less than 20%. These new rules were put in place to ensure that you can afford to keep making payments even if mortgage rates were to increase.

In addition to qualifying for the rate provided by your lender, the stress test requires that you qualify for the Bank of Canada’s five-year fixed mortgage rate. The BOC’s rate acts as a sort of benchmark that gives an indication of your financial status to help prevent people from defaulting on their mortgages.

This mandatory measure includes a requirement that as a home buyer you are not spending more than 39% of your income on home costs. Those costs include taxes, mortgage payments, utilities, etc.

Finally, your TDS (Total Debt Service) ratio cannot be over 44% and needs to include all other debt payments.

All of these conditions might seem like obstacles for millennials thinking of buying houses in Toronto. However, they’re there to prevent Canadians from falling into dire financial circumstances if their mortgage rates were to increase, unexpectedly.

Be aware of how your financial standing stacks up to the stress test requirements. Check where you stand before getting too invested in buying a house.

Get Informed About Toronto & The GTA Real Estate

Buying a home requires research, knowledge and an understanding of the home-buying process. Having insight and experience on your side is even better. Unfortunately it’s not as simple as just looking through Toronto & GTA real estate listings and picking a house.

Over 3 decades we’ve been helping people in Toronto & The GTA navigate the real estate market and we’ve developed an expert understanding of it.

That’s what makes us the #1 RE/MAX Team in Canada.* If you’d like the #1 Team on your side when navigating the home-buying process, we’re here for you.

RELATED ARTICLES:

FOLLOW HERE TO GET INSIGHTS INTO INVESTING IN TORONTO & GTA REAL ESTATE

FOLLOW HERE TO READ ABOUT BUYING YOUR FIRST HOME IN TORONTO OR THE GTA

FOLLOW HERE TO LEARN ABOUT FINDING THE RIGHT REALTOR TO SELL YOUR HOME

Led by the #1 RE/MAX Agent in the world*, Frank Leo & Associates has helped 1000’s people in Toronto & The GTA navigate the real estate market.

That’s what makes us the #1 RE/MAX Team in Canada.**

Consider speaking with Frank and his team of associates help you navigating the home-buying process, FOLLOW HERE TO CONTACT US TODAY or Call (416)917-5466.

* Dollar Volume in 2017

** Dollar Volume January – May 2018

The Skyline of Toronto & GTA Real Estate highlighting how it's a good place to invest

Toronto & GTA Real Estate: A Strong Place to Invest When It Comes to Real Estate Investment in Canada

Posted on August 17, 2018 | by getleo1 | Leave a Comment

The Toronto & GTA Real Estate market just saw a major jump. The Toronto real estate statistics released by the Canadian Real Estate Board for this summer show a major upswing when it comes to housing sales. The increase is drawing even more attention to one of Canada’s top cities for Real Estate investment. In fact, Toronto has earned the title of making Canada’s biggest gain in home sales this year.

If you have any questions about the statistics presented in this article or about Toronto & GTA real estate in general, look no further than Frank Leo & Associates headed by the #1 Individual RE/MAX Agent in the World* for the answers. Contact us to have your questions addressed.

Toronto & GTA Real Estate Statistics 2018: Toronto Homes Sold

Toronto has seen an increase in homes sold this summer compared with the same time last year.

By the numbers, that means a 2.4% increase compared with last year’s numbers for June 2017. In Total, we’ve seen 8,082 homes sold through the Toronto Real Estate Board’s Toronto MLS Listing System, as reported by Greater Toronto Realtors® in June 2018. Between May and June of 2018, the sales are up 17.6% on a monthly basis.

Average Price of Toronto Homes Sold

In terms of average selling price, it’s edged up by 2% on a year-by-year basis. By June 2018, the average price of a home sold in Toronto reached $807,871. Between May 2018 and June 2018, the average home price jumped up by 3%, a considerable change for the market (after preliminary seasonal adjustment).

On a year-over-year basis the MLS® Home Price Index (HPI) went down 4.8%. However, it stayed more or less the same in terms of month-over-month change. Changes to the amount of different types of properties which were sold between June 2017 and June 2018 is one of the reasons that can account for the differences in the average price and the MLS® Home Price Index (HPI), year-over-year. In June 2018 low-rise homes accounted for a larger share of home sales, for example.

Buying A Home In Toronto Becoming More Attractive

Jason Mercer, The Toronto Real Estate Board’s Director of Market Analysis and Service Channels, expects to see, “improvements in sales over the next year.” In the same statement he has indicated that it is likely that the number of new listings posted each month will also stay more or less consistent.

What does that mean for the market?

It could mean that the competition between buyers which is characteristic for the Toronto & the GTA real estate market could actually increase. The cumulative effect of that competition is likely to drive Toronto Real Estate Prices up even higher.

Accounting For Toronto’s Real Estate Market Boom

Although these changes are largely positive for homeowners seeking to sell property in Toronto & the GTA, these changes to the Toronto Real Estate market can be accounted for by recent policy changes over the past year which have affected home buyers. These include adjustments to the Fair Housing Plan, the now-mandatory stress test, and higher costs of borrowing.

Garry Bhaura, President of the Toronto Real Estate Board, suggests that these conditions are starting to move more real estate buyers back into the Toronto real estate market.

Your Toronto & GTA Real Estate Questions, Answered

Still have questions about the Toronto & GTA Real Estate Market?

Whether you’re thinking of buying or selling a house in Toronto & The GTA, you can count on Frank Leo & The #1 RE/MAX Team in Canada** for expert advice. Frank Leo & Associates have been helping buy and sell houses in Toronto & The GTA for three decades.

We’re here to answer all of your questions and meet all of your real estate needs, so get in touch.

* Dollar Volume 2017

** For Dollar Volume January – May 2018

RELATED ARTICLES

FOLLOW HERE TO LEARN HOW REAL ESTATE CAN AFFECT YOUR NET WORTH

FOLLOW HERE TO READ FRANK’S TIPS ON BUILDING REAL ESTATE EQUITY

FOLLOW HERE FOR OUR GUIDE TO BUYING YOUR FIRST HOUSE IN TORONTO & THE GTA

Image of house and coins on paper demonstrating frank leo's net worth tips for real estate in Toronto & The GTA

Frank Leo’s Net Worth Tips For Toronto & GTA Real Estate

Posted on August 14, 2018 | by getleo1 | Leave a Comment

Regardless of the state of Canada’s economy, global markets, or the stock market, protecting your net worth can be a wise course of action. In this Frank Leo Net Worth tips article we’ll cover how Toronto & GTA Real Estate can not only protect your wealth from shrinking and protect from inflation, but even generate more income.

Please note that while Frank Leo & Associates are the #1 RE/MAX Team in Canada* lead by the #1 Individual RE/MAX Agent in the World**, we are experts in the field of Toronto & GTA Real Estate, not finance. This article should not be taken as financial advise or replace the need to see a financial advisor.

If you have have any questions about Toronto real estate MLS Listings, buying or selling a house in Toronto, or mortgage-related questions, don’t hesitate to reach out. Click here to talk Toronto real estate with us.

Frank Leo’s Net Worth Tip 1: Minimize Inflation

Investing in Toronto Real Estate – as opposed to stocks or bonds – can be a way to protect your net worth from inflation.

Stocks, bonds, and other equity investments can decrease in value when inflation sets in. That means your net worth also decreases and your buying power goes down.

Real Estate is one of the select few assets which stays proportional to inflation. As inflation sets in landlords increase rents and property values typically go up with them.

As an example we can look at how inflation affected residential house prices in Texas between 1979 and 1985. The Texas home prices index rose from 100 to 175.8 in that time. In practical terms, that means every $100 invested in a residential real estate asset in 1979 would was worth $175.8 just 6 years later.

The Huston consumer price index also jumped from 100 to 142.9 over that same period. The difference between the two figures (32.9%) represents the increase in the purchasing power of each $100 invested in Texas residential real estate.

If you have any further questions regarding real estate investment in Toronto & The GTA the Frank Leo Team would be happy to answer your questions. Contact us with your questions today.

Frank Leo’s Net Worth Tip 2: Real Estate Is A Tangible Asset

Residential real estate is a unique investment because it’s an assets which can actually fulfill people’s basic needs.

Unlike luxury commodities like gold, or intangible wealth like equity, a house is a type of necessity. It can fulfill a need, not just satisfy a desire. It will always have that tangible value.

Although no one can say where the market will go with certainty, it is reasonable to conclude that residential real estate will always have value because people will always want to own nice accommodations.

Frank Leo’s Net Worth Tip 3: Toronto Real Estate is a Good Deal

Long term, real estate can be better overall for your net worth than equity assets. You may be wondering how that is if real estate appreciation (even if you added potential rental income) underperforms the appreciation of stocks plus the dividend income they provide.

If we look at all the variables and see the investment in context, we’ll begin to see how real estate can be a better deal.

Let’s compare taking out a mortgage and leveraging money from a stock broker as two types of investments. The better these investments, the more secure your net worth.

For many people, investing in real estate turns out to be the superior investment. For one, borrowing money to buy a house in Toronto comes at relatively low interest rates. Let’s say you buy a house in Toronto for $1,000,000 and make a standard 20% down payment. Your return will be 15%, assuming the property appreciates at 3%.

Generally, these figures are better than what one could expect to make from equity investment as a non-professional trader.

Frank Leo’s Net Worth Tip 4: You Choose When to Sell

When you buy a house in Toronto & The GTA, the investment belongs to you. Although you may owe money to the bank in the form of a mortgage, the property is yours and that means you can do what you want with it. You choose when to sell.

With a stock you could be forced to sell at an inopportune time. Selling at the wrong time could cut in or completely undercut your margins.

Frank Leo’s Net Worth Tip 5: Build Net Worth With Real Estate

Just like other financial assets, your Toronto & GTA real estate can help you build net worth in addition to protecting it. As outline above, it could even be a higher return than the typical 2% which many bonds and stocks yield.

Unlike equity, you don’t have to sell your property to turn a profit. As a landlord you can make up to double-digit returns on your investment.

Answering Your Toronto & GTA Real Estate Investment Questions

Do you have further questions about real estate investment in Toronto & The GTA?

Whether you’re thinking of buying or selling your property in Toronto an the GTA, you can count on the #1 RE/MAX Team in Canada* led by the #1 Individual RE/MAX in the World** to deliver insights and answers.

We’ve been serving Toronto & The GTA by buying and selling real estate for nearly 30 years and over that time we’ve developed a sharp understanding of the market and found the answers to the questions our clients are asking.

RELATED ARTICLES

FOLLOW HERE TO READ MORE ABOUT WHEN IT’S THE RIGHT TIME TO SELL YOUR HOME IN TORONTO OR THE GTA

FOLLOW HERE TO READ ABOUT STRATEGIES FOR PRICING YOUR HOUSE FOR SALE

FOLLOW HERE TO LEARNING ABOUT BUILDING YOUR HOME EQUITY EFFECTIVELY

* For Dollar Volume January – May 2018

** Dollar Volume 2017