Work more efficiently and earn more money. Isn’t that the dream we all share?

I have a lot of people just like you asking me if buying a rental property in Canada is a good idea for them.

Being a property investor and a landlord is a second job. You need to evaluate if this is the right fit for you.

Now, while I can’t make the decision for you, what I can do is give you the information so you can then make your own informed decision if this is right for you.

Here are some Top Homework Tips to Buying a Rental Property in Canada:

1. Research the neighbourhood you are looking at
Not researching a neighbourhood is a common (and sometimes costly!) mistake investors can make. Look at other rentals in the area. Find out what demographic of people live in the area. Find out what the going rate of rent is. Make a list of all the pros and cons. Make sure to mention the amenities and pluses when advertising.

2. View the proposed property from the eyes of the renter

Successful landlords and investors imagine themselves living in the property. Is the neighbourhood nice enough for you to live there? Is the house kept up well enough that you would be proud to call it home? How does the neighbourhood look and feel?  What are the attractions to the neighbourhood? Seeing others who live in the neighbourhood will give you a good indicator of the people your place will attract.

3. Assess your finances

Do you have enough for a sizeable down payment?
Do you have enough of an income to cover surprise costs like fixing a roof/plumbing/leaky basement?
Do you have enough money to cover all the bills, especially if the house becomes vacant (this is often overlooked).
How much income will your property generate?

4. Know the Landlord/Tenant Act Thoroughly
Learn about your rights and responsibilities as a landlord. Even if you hire a Property Manager, you will have certain responsibilities for anyone living on your premises. You need to be able to protect yourself and know what is acceptable and expected of you and your tenants.

Remember, these tips are just meant to help you assess if you want to become an investment property owner.
There are many more steps I will help you with once you’ve made the decision!

I have lots of clients who are very successful landlords and who absolutely love owning rental properties.
If done properly, investing in a rental property can be a great way to diversify your investment portfolio.

Decide if this is right for you and I will help you make it a reality. Speak to you soon!

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.

Many people find winter, (especially January!) the hardest time of the year.

So far we have been very lucky this winter. (Hopefully I don’t speak to soon and have to deal with the wrath of Old Man Winter following this blog post!)

As much as I LOVE spring and summer, I have learned that (as with anything in life) you must endure the bad to be able to fully enjoy and relish the good.

Here are my Top 4 Tips to Help Fight the Winter Blues!

1. Embrace It!
Winter only comes once a year and it usually only lasts about 90 days. I understand this is tough for many as getting outside may not be the best option, but if you can embrace winter in any way, you may actually learn to like it. Get skiing lessons, go to a hockey game, lace up those skates or perhaps just go fro a brisk walk and enjoy the silence that winter brings. Whatever activity you choose to do, embrace it and know that with each passing day summer is on it’s way.

2. Eat Hearty Food
I don’t know about you, but eating a juicy steak with red wine and all the fixin’s doesn’t suit me well in the heat of summer. Let yourself indulge in some heavier foods this winter like roasts, stews and try out some new comfort food recipes you’ve always waned to make. Just make sure to keep it healthy as we need those extra nutrients in winter.

3. Slow Down and Take Time For You
I find the spring and summer season to be so busy and hectic! Instead of longing for days when your calendar is jam-packed, allow yourself to slow down in winter and do the things you feel you never have time for. Read a book, go to the gym, learn an instrument. Challenging yourself in a new and interesting way may have you looking forward to this down time next winter.

4. Go On A Holiday
This one may seem obvious but even taking a long weekend to go somewhere to catch some sun can be really beneficial in the dark winter months. Getting out of the heavy winter coats even for a few days can really recharge your batteries. If you can’t get away, get Vitamin D in any way you can; get outside, take a supplement or just open your blinds and let the sun shine in!

We’d love to hear from you! What do you do to beat the winter blues?

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.

When buying a home, there are a lot of decisions to make. Location, Size, Cost, Must-haves and perhaps most importantly, what type of home.

Townhome Condo, Highrise Condo or Detached House?

Buying a home is likely the biggest financial purchase you will ever make and it is a difficult decision to make, especially with so many variables to consider.

My suggestion is to make a list of your “Must-Have’s”

How much do you value a yard? Or do you prefer someone else to do your outdoor maintenance?

Do you value the security of a building, being up higher or having a view?

Are you a handy-person and like to have your own workshop and lots of storage space?

Will you need a space to grow into or are you in the stage of life where down-sizing is what you’re after?

Really getting clear on what you’re looking for will help narrow your search.

You may surprise yourself by thinking you know exactly what you’re after until your search has begun and in fact other things you may never have thought were important to you could come up.

Here is a very basic breakdown of some differences between the two:

Houses

• Your private yard
• You are responsible for your own maintenance
• No condo fees
• Insurance is your responsibility
• You can do whatever you’d like to your property inside and out

Condos

• Monthly condo fees. These fees usually include water, snow removal, landscaping, exterior maintenance as well as upkeep of amenities like a gym or pool.
• Exterior and building insurance
• Inside your condo, you are usually free to do what you like (except structural). You will most likely need permission for anything exterior ie. painting your front door, shutters or sometimes even having a doormat

Whatever our preference, we will be happy to help you find just what you are looking for!

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 know what you’re thinking; “Spring?! But Karen, it’s only January!”

The truth is; the spring market starts now.

Most people underestimate the home selling process.

From the time you think about selling, the process usually goes something like the following:

-Think about selling, make the decision to sell

-Declutter and depersonalize your home

-Put excess furniture and household items into storage

-Clean your home top to bottom

-Fix any minor repairs, fresh paint jobs, plant flowers etc.

-Stage your home if necessary

-Increase your curb appeal by repaving your driveway, painting your front door, trim your hedges

This process can take anywhere from 2-4 weeks, or more.

Once all of these details are tended to, you need to hire the best Realtor to represent you.
Your Realtor will be your eyes and ears in the market and it is imperative that you select someone
who has your best interest at heart and who you get along with well.

Once you’ve selected a Realtor you trust, we will help you through the home selling (and buying) process.
Putting your home on the market, having an open house, advertising your home and holding your hand through
the process is what we are here for.

Selecting the right Realtor for you can take approximately 2 weeks as well.

Once your home is on the market, it could sell right away, or it could sit for a few weeks. These are all things
that need to be accounted for, especially if you are looking to buy a home to move into.

This could take anywhere from 1 day to 60 days, or more.

Once your home sells, the closing date is usually 30 – 60 days after the sale is final.

So yet another 60 days

If you account for all of the preparations above, if you were to decide to sell your home today,
your house could be going on the market by March 1st. Of course this can be done quicker, but
if you are thinking of selling your house in the “Spring Market” my advice is to start on the process ASAP.

People often make the mistake and wait until spring is upon us to list their home. This will delay any house
sales and the market is very saturated by spring that your competition will be fierce!

If you are thinking of selling your home, I am happy to represent you. Just a final reminder:

The Spring Market Starts Now! 

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.

Even though the new year has only just begun, the housing outlook for 2015 is looking very bright.

According to the Re/Max 2015 Housing Market Outlook Report, the average 2014 residential sale price in Canada was $406,145; which is expected to increase this year to $416,300.

In Toronto and Vancouver prices will continue to climb, by about 4 and 3 per cent per cent, respectively. If you’re a homeowner, or looking to get into the market, keep an eye on these factors in the year ahead.

While Baby Boomers continue to downsize, Millennials are entering the market. Both groups are driving market demand right across Canada.

With young buyers in Vancouver and Toronto facing high prices and a limited supply of single-family homes, condos are especially appealing.

In Montreal, Kingston, Ont., Burlington, Ont.,and Victoria in particular, condos are attracting Baby Boomers looking for amenities within walking distance and affordability.

We look forward to helping you buy or sell your home in 2015! Call us, we’d love to hear from you!

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.