I’ve had this conversation, many a time, with many a home seller. And I’m sure other real estate sales professionals have as well.

Not all renovations increase the final selling price of a home. A $30,000 kitchen renovation for example, doesn’t necessarily translate into an extra $30,000 to the bottom line. Before embarking on renovations, take a moment to discuss options with your real estate sales professional, sometimes it’s the little things that can make a big difference.

In fact there are many smaller home improvements that can directly affect a home’s ‘saleability’.

Upgrades Should Be Energy Efficient

Recent studies suggest that energy efficiency has become an important selling point for millennial home buyers. With skyrocketing fuel and utility costs, all the little bits add up to a whole lot.

While SMART controlled home technology and Energy-Star appliances are a real boost to a home, there are many other upgrades that can be done that when taken together directly affect fuel and utility costs making a home more affordable.

Consider:

• Replacing kitchen and bathroom fixtures with low-flow faucets and replacing older toilets with high-efficiency models.
• Replacing water heaters with a tankless water heater that will reduce the gallons wasted while the shower heats up.
• New and clean windows really add a difference. But go one step further and consider double or triple paned windows. It will increase a home’s energy efficiency by preventing hot air from escaping in the winter and keeping cool air inside the home in the summer.
• Even upgrading incandescent bulbs to energy efficient devices like compact flourescents or LEDS will make a difference.

Environmentally friendly, renewable and sustainable aren’t just buzzwords. Homes decorated with natural finishes (such as bamboo floorings) and coverings are having an impact on buyers.

Update The Small Stuff

If you don’t address the small repairs, you run the risk of losing a potential buyer.

Good materials aren’t always expensive if you shop carefully and place them where they will have the most impact. Upgraded cabinet hardware, a fresh coat of paint that looks professional or light fixtures with interesting lighting options will catch a buyer’s interest.

And making things seem bigger than they are – like closets. Regardless of the size, nothing perks-up a closet like a built-in closet organizer. Even the tiniest of closets will appear larger and more efficient when equipped with an organizer.

Transform Old Rooms
Into Specialty Rooms

A well organized and attractive laundry room doubling as a multi-purpose room is making a come-back and moving out of the basement. Or, if your basement is unfinished can part of it be into an exercise room or home theatre?

These are just a few ideas to share with your professional real estate agent. It’s about identifying those updates that you can handle easily and will make a difference on the sale of you home. .

Not sure what your home requires to get top dollar? Give me a call, I’d be happy to answer any of your questions.

Our team of real estate sales professionals is committed to finding you, your dream home. Whether you’re looking to buy or sell, the Karen Paul team is here to help with any questions.

The newly-elected federal Liberal government is increasing the minimum down payment requirements for higher-priced homes in Canada. As of February 15, 2016, Canadian home buyers will see changes to the rules regarding government-backed mortgages.

Under current rules, Canadians with a down payment less than 20% of the purchase price are designated ‘high ratio mortgagees’. It was considered a high ratio because the ratio of what is owed (the mortgage) to the total value of the home is greater than 80%.

Currently home buyers are required to have a minimum down payment of five per cent of the total cost of the home in order to qualify for Canada Mortgage and Housing Corporation Insurance. Mortgage lenders insist on CMHC insurance when they are providing a mortgage of more than 80% of the homes values – or a high ratio mortgage.

What Will The New Mortgage Rules Look Like?

The 5% down rule remains the same for any mortgage less than $500,000. However, starting in February CHMC will require a 10 per cent down payment on the portion of any mortgage it insures over $500,000.

So, someone looking to buy a $700,000 home would need to have a minimum down payment of $45,000, which is what you get when you add five per cent of $500,000 and 10 per cent of the remaining $250,000.

Besides the new down payment restrictions, the federal government introduced other lending restrictions and together, they represent the most sweeping changes to the housing market since 2012, when the Conservative government last moved to tighten mortgage lending requirements.

Last Mortgage Rules Update With Conservative Government

Under the Conservative government, the finance minister tightened mortgage rules four times between 2008 and 2012. Among the changes, the federal government:

•  Required a minimum down payment of at least 5 per cent for a mortgage to qualify for government-backed insurance. Previously, borrowers could get CMHC insurance on mortgages with no money down.
• Scrapped government-backed mortgage insurance on home equity lines of credit.
• Dropped the maximum amortization for mortgages to 25 years from 40 years.
• Capped the maximum home price that could qualify for government-backed mortgage insurance at $1-million.

The CMHC known mostly for insuring mortages is Canada’s national housing agency. Their website states that it contributes to the stability of the housing market and financial system, provide support for Canadians in housing need and offer objective housing research and advice to Canadian governments, consumers and the housing industry.” CMHC consider prudent risk management, strong corporate government and transparency are cornerstones of its operations. In addition to their website, the CMHC is active on social media and has a newsletter.

Are you concerned that the new mortgage rules will affect you? Give me a call, I’d be happy to answer any of your questions.

Our team of real estate sales professionals is committed to finding you, your dream home. Whether you’re looking to buy or sell, the Karen Paul team is here to help with any questions.

Condo living is on the rise. Just drive into Toronto, or even downtown Burlington, and you’ll notice the landscape has drastically changed. More high-rise condominiums are being built throughout Canada as there is an increasing demand for homes requiring little maintenance.  With the rising cost of single family homes along with longer work days, the turn-key advantage that condos offer are attracting many of the millennial generation who are now entering the property market.

There are many types of condo buildings with a wide range of amenities to suit various interests and lifestyles.

Here are four steps to follow in finding the right condo for you…

1. Think Ahead

It is often said that life changes every 3 years. If you are buying the condo as a young, single professional, that is fantastic, but try to look a few years ahead and see where you want your life to go. Look at what is being built around your condo. Are there other towers going up? What is the parking situation? Are there parks, schools, grocery stores nearby?

2. What does the building offer?

Does having a fitness facility on site matter to you? Would you like to have a security/ concierge service? Are you keen on having access to a pool or outdoor rooftop area? What type of view are you after? Would you like to have a balcony? Ensuite laundry? Underground parking?

3. Investigate nearby Amenities

Do you have access to transit? What shopping centres are nearby? Do you require the amenities to be within walking distance? What is your proximity to the major roads that get you into and out of the city? Even if these factors are not overly important to you, think of them in terms of resale value for the next buyer. Also consider the neighbourhood and locations in which you are looking. How much do the different areas and buildings vary in price?

4. Cost and Value

As much as we can never guarantee if a property will increase, looking at market value and the history of similar condos in the area, and what they sold for is a good idea. ?Knowing your budget ahead of time will help you determine what you can afford and what price range you should be looking at. Your budget will also help narrow the list of what you’d like to have and what you can realistically afford. Staying within your budget and having the ability to negotiate on price are things we help our clients with all the time to help them get the home of their dreams.

Whether you are looking at buying a condo in Toronto, Burlington, Hamilton, or anywhere else in the GTA, we would love to help you! Call us today to see how we can help you find the condo of your dreams! 

Our team of real estate sales professionals is committed to finding you, your dream home. Whether you’re looking to buy or sell, the Karen Paul team is here to help with any questions.

One of the most successful women in the real estate industry has taught me a ton!

Barbara Corcoran, whom many of you know from the popular TV show, Shark Tank, has built a phenomenal business over the last 40+ years. Starting out in the industry at the ripe age of 24, Barbara borrowed $1,000 from her then boyfriend to make her vision come to life. And boy did she!

After reading her book, Shark Tales; How I turned $1000 into a Billion Dollar business, I realized that I had followed many of her steps through my own discovery over the years. This woman is fantastic for our industry and I recommend all agents (especially women!) to read her wise words.

Here are Barbara’s 7 tips for real estate success

1. “Perception creates reality. If you want to be successful in real estate you have to look bigger, better, stronger than the competition.” — If you look the best, you probably are the best.
2. “There are two kinds of people: expanders and containers. Expanders are good at recruiting, PR, advertising, having fun. Containers are good at computer systems, hiring people, policies.” — Goal for new hires is to identify these personalities and use them appropriately.

3. “Anything not changing ain’t working. Target things in your business that have not changed in a while. My greatest salespeople wanted to do more and make changes all the time. I was re-inventing the Corcoran Group all the time and doing things like video tours back in the 80s.” — We have recently unveiled new strategies with our videography — telling the stories of our properties and our company. Our videos are high-definition for online consumption…not the VHS that Barbara was forced to work with in the 80s.

4. “Fun is good business.” — The Key 2013 was fun for both the attendees and our staff. As a company, we are never afraid to have a good time. Our clients and coworkers would attest, we work (very) hard, but always make time for play.

5. “There is no such thing as balance. Put a line between home and work. When I am at home, I am 100% at home.” — This is a personal decision. I know that people are more productive at work when they have time to focus on their personal life. However you choose to balance home and work, make a point to have time for both.

6. “I am a great failure. All of my successes come on the heels of failure. Great salespeople are great at empathy and great at failure.” — Note to self…hire salespeople who are great at failure.

7. “Push people to be more confident at thinking on their feet.” — This is perhaps the advice I will take most to heart. As a company, we are growing quickly, and we expect our staff to take ownership of their roles. So, I will be pushing people be proactive, independent, and efficient in their tasks for the coming year.

Reference Barbara’s Top 7 tips HERE

I would love to hear from you! Are you a business owner? How many of these tips do you implement in your line of work?

Our team of real estate sales professionals is committed to finding you, your dream home. Whether you’re looking to buy or sell, the Karen Paul team is here to help with any questions.

Karen Paul & Associates | Real Estate
905-333-6234 | karenpaul.com | info@karenpaul.com
Burlington • Oakville • Hamilton • Milton • Niagara

Simplifying our lives, allowing us greater peace of mind, and saving us money, smart homes are the way of the future.

There are of course varying degrees of smart homes. From houses you can control with your smart phone to a more extreme version – homes you control with your thoughts alone.??Advanced smart home technology allows you to customize your home anytime, from anywhere.

Imagine, laying on a beach in Florida and switching your lights on to appear you are home. Activating your alarm system has never been easier and you can see in real time whether your loved ones have switched the alarm on or off, with the touch of a button on your iPhone.
more

Saving on your heat/air conditioning bill

It is no secret that heat and air conditioning can become quite costly, especially if the system is running all hours of the day. The majority of people spend upwards of 8-10 hours outside of the house everyday. During these hours, the heat or air does not need to be pumping. Turning down the temperature even 5 degrees will help. The same goes for overnight.

Security System

Homeowners can virtually check up on their homes from wherever they are in the world. Providing this peace of mind can make a world of difference. From your smart phone, you can confirm that your alarm was set, and not breached. This gives you the power to monitor, control, secure and customise your living space with a touch of your smartphone.

If anything happens to your home, you are notified at once. Also, you never have to worry about forgetting to lock the back door or losing your keys – it’s all at your fingertips! Set the comfort for your home?You can control lighting, temperature settings, locks, everything down to individual connected appliances.

Whether it’s making sure your place is warm and cozy when you come home in winter, or setting those lights just right for movie night, turn what you need on and off, up and down — and then get back to what you were doing in the first place.

I would love to hear from you. Do you own a smart home? What are your favourite features? How has owning a smart home improved your life?

Our team of real estate sales professionals is committed to finding you, your dream home. Whether you’re looking to buy or sell, the Karen Paul team is here to help with any questions.

I always picture summer vacation as relaxing around a campfire or spending time outdoors with loved ones. ??These are the memories that flood our minds and sharing experiences actually help us evolve into happier, more productive people.

My team and I love to travel! Each month, we are featuring a new travel segment in our newsletter from one of our team members. ??This week, I thought I’d let you come along with me on my current journey – rowing in Italy!

Here are some of the top reasons why taking a holiday is imperative

I am on a ten day trip with my rowing friends from all over the world. ??I have not been on an overseas holiday this summer and since it was an incredibly busy summer for us, I decided to wait until now.

1. Recharge your batteries

When you run your own business, it is extremely important to schedule in some downtime. There will always be more phone calls to make, more clients to work with and the to do list never stops. This is what I LOVE about having my own business!! But, if you don’t take time out to rest and relax, you will burn out.
Photo: ‘Ready to start at the base of the Swiss Alps’ 

2. Experience something new

New experiences allow us to view life from a different perspective. Try doing something you have never done before every time you go on vacation. It doesn’t need to be anything extreme like sky diving or swimming with the sharks, perhaps just having a massage on the beach is new to you. Whatever you choose, relish in the knowledge that you have done something out of the ordinary as this will help you grow.

3. Focus on something outside of work

Have you ever tried to tackle a problem and feel like you are constantly not finding a solution? The best thing to do is step away from the problem, and basically stop trying to solve it. When we are taking a holiday from work, our minds are in a creative mode as we are living in the moment. When we are seeing new things and not thinking about work, this is when so many of the ah-ha’s appear! So many times when I have been out on a lake, rowing 10,000kms away from my office, and solutions to problems have become clear as day!
Photo: My rowing crew on Tuesday. We are Irish, Austrian, Dutch and Canadian. We rowed 31kms through the rain – smiling the whole way!

4. Bond with family members and locals

It is no surprise that traveling with family and friends is one of the fastest ways to deepen a relationship. You are all enjoying the same experience and sharing the fun of your holiday together. Only people on the holiday with you will be able to recall certain memories. Meeting locals is always a good idea. Using the few words you have in their native tongue will expand your creative brain and challenge yourself in a multitude of ways.
Photos: My rowing friends I met in India a few years ago. So good to see each other again!

Now that school is back and things are a bit less busy, I would love to see your holiday pictures!
All of the images above were taken a few days ago.

Please follow me and my Italian adventure live on Instagram at https://instagram.com/karenpaulteam/

Our team of real estate sales professionals is committed to finding you, your dream home. Whether you’re looking to buy or sell, the Karen Paul team is here to help with any questions.

After decades of dramatic change and economic crisis, entire villages in Spain have been found up for sale.

Just north of Madrid, many villages are abandoned, and left for dead.

Often, the only people left in these villages are the elderly, and even they are now moving out to be closer to health care.
With the recent economic crisis, and the promise of work in the northern EU countries, workers have fled to secure stability in major cities, and neighbouring countries.

Once supporting much of Spain’s highest population density, a quarter of these villages are now deserted.

These empty villages are hoping to be sold to foreign investment. British holidaymakers and yoga retreat centres have shown interest, but now even North Americans are snapping up these little slices of paradise.

For example, one village up for sale has 100 acres of land, 6 houses, 2 barns and a large cattle barn. Only 6 miles away lie white sand beaches, and some of Spain’s best surfing. Peach, pear, apple, walnut, and fig trees litter the greenspace and the village has it’s own bakery.

The asking price, for the whole village? $230,000.

Other villages that are being given away, for free. All the new owner must do is promise to renovate and bring the houses and village back to life.
This is the first time in 500 years that these villages have gone uninhabited. Local residents are heartbroken as they have good memories of better times, but they are looking forward to foreign investors restoring the beauty.

Don’t want to commit to owning and operating a whole village? ??Some single homes are being sole for as little as $5,000.

With the purchase of these attractively inexpensive homes, everybody wins. Foreigners acquire stunning holiday homes for an amazing price, the locals have their old, historic villages returned to their former glory and Spain receives much needed tourist dollars entering into their economy.

Our team of real estate sales professionals is committed to finding you, your dream home. Whether you’re looking to buy or sell, the Karen Paul team is here to help with any questions.

Karen Paul & Associates | Real Estate
905-333-6234 | karenpaul.com | info@karenpaul.com
Burlington • Oakville • Hamilton • Milton • Niagara

Buying a home is the biggest investment you will make during your life. And when you’re trying to find a home away from home, you need to know what you’re trying to accomplish and how to do it.

The rules are different everywhere you go, but here are nine things to consider when purchasing a home overseas.

Buying real estate abroad can be a great investment

1.  TALK TO OTHERS
   – The easiest way to find and buy a home overseas is to start talking to others that have already been in your shoes. They will help you figure out what you need to do as well as what not to do, based on their past experiences.
2.  TALK TO A LOCAL EMPLOYER
   – If you’re having troubles in the housing market, you might want to talk to your employer in your new country. They often help employees relocate and can be a lot of help in the beginning stages.
3.  INTERNET SEARCH
    – Of course, the Internet is generally the best place to start looking for homes moreoverseas, but it can also be a great way to find out the price ranges so that you can buy a home that’s cost appropriate.
4.  GO OVER TO VISIT
   – To buy a home overseas, you will want to head to the desired location first to see what’s available and where certain homes are. Being in the city will also allow you to get information and questions answered more quickly.
5.  LOCAL REAL ESTATE LISTINGS
    – When you’re in the city, you will want to look for local real estate listings to see how they list their homes as well as what prices and showings you can expect to find.
6.  THROUGH A REAL ESTATE BROKER/AGENT
   – The easiest way to handle an overseas home sale is to have the help of a real estate agent that is based in that area. But as with any important helper, you need to check their credentials and their references to be sure they are legitimate.
7.  LEARN ABOUT THE MARKET
   – You need to get a sense of the bigger picture in the real estate market in the area where you wish to move. This will allow you to spot trends as well as times when buying a home might not be the best idea.
8.  HAVE THE CASH READY
   – Most overseas home purchases will need to be bought with cash because you’re not going to have any sort of credit or financial status in place.
9.  MAKE SURE YOU GET TITLE
    – With different markets, you will want to be sure that you get some sort of legitimate paper that shows that you are the new owner of the home.

Interested in an investment property, possibly overseas? Give me a call, I’m here to help.

Our team of real estate sales professionals is committed to finding you, your dream home. Whether you’re looking to buy or sell, the Karen Paul team is here to help with any questions.

Karen Paul & Associates | Real Estate
905-333-6234 | karenpaul.com | info@karenpaul.com

Burlington • Oakville • Hamilton • Milton • Niagara