Real Estate Remains King in Toronto
Despite all new regulations, interest rate hike, foreign buyer tax, real estate remains in high demand.
Getting Top Dollar
The fallowing parts of your home can give you the best return on investment if you choose to renovate.
1) Flooring – Upgrading the floor is a key feature that will go a long way to capture a buyer’s attention.
2) Fixtures & Hardware – These may be seem small on the surface but it can make quite a difference.
3) Bathrooms – Without a doubt, any money spend on upgrading a bathroom will be worth the effort as it is the second most important room in the house.
4) Kitchen – This is the most valuable room in the house – if you only have one place where you can spend some money on renovations, the kitchen will give you the best return on investment.
5) Basement Income Suite – Depending on the municipality you reside in, and if the city allows income suites then by adding an income suite you raise the value of the property. Demand for double unit homes had risen more than 25%.
Surging economic growth should underpin more rate rises
Canada’s economy grew by its fastest pace in over 17 years, reaching heights not seen since the dot-com bubble of the late 90s and early 2000s. May’s growth figure was 0.6%, taking the year’s number to a whopping 4.6%. International monitors now predict Canada will be the fastest growing developed country in the G7 for 2017. Strong growth is attracting investors to the dollar, which just exceeded 80 cents to the U.S. dollar, a strong rebound from its low point in May of 2016. Growth is being driven by deficit spending, strong consumer spending, a rebound in the oil and gas sector, and a still strong real estate sector. The strong growth will legitimize and embolden Bank of Canada officials who decided to increase rates and will likely encourage them to maintain their slated aim of increasing rates again in October.
Thank you for your continued business and I hope these newsletters are of value to you. I am always thinking of new ways to enhance my service to you. If you have any suggestions please don’t forget to mention it.
Oh, by the way…I am never to busy for your referrals!
All the best,