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5 Ways To Turn Your City Condo Into The Home Of Your Dreams

Condo living is becoming increasingly popular thanks to the convenience it gives city dwellers on their commute to work and school every morning. If you get the ideal space, then your condo will make the perfect place to raise a family. And who said you are limited as far as decoration goes?

5 Ways To Turn Your City Condo Into The Home Of Your Dreams

Vintage All The Way

Old is gold and it makes everything look super classy in the same way that a T1135 voluntary disclosure looks good in your records. Nothing like a vintage collection to transport your home back to the 60s. Colors such as red, brown, maroon, and green have a way of changing your home’s outlook and brightening the space, making it look much bigger than it is.  You can always throw in a few books and catalogues to complete the look if space allows.

Nature In Your Home

Nature lover, condos may not give you the option to have plants in your backyard, but that doesn’t mean you cannot enjoy a bit of green in the city. Potted plants will do well in the house as long as you gave them at a spot where they can access some light. You also want to select a condo with large windows that allow in as much natural lighting as possible.

Simple Elegance

Colors on the wall will make or break your home. Simplicity is elegance as you will notice by having just one shade on your walls. Go for bright but beautiful colors, such as green fir calmness and orange that exudes excitement. Whichever palette you choose, align it with your furniture. If you opt for wallpaper, then you want to ensure that you don’t overwhelm any other part of the décor. Simplicity is key as anything too consuming will make our living room look small.

The Elegant Wall

Now, this part of your living room should be inspired by your personal style. You want to include the things that make you happy without cluttering space so as not to make the room look even smaller. To complete the look, you want excellent lighting. Chandeliers and pedant lamps will complete this look perfectly.

Glass Is Class

Glass makes everything look much more elegant than it is, doesn’t it? Seeing as you cannot just change the partition of your condo to suit your liking, you will have to be keen with your choice of house from the beginning. Glass opens the space up and males it look larger than it is while giving you excellent views of the city.

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All About Home Ownership: Millennials

Being a millennial means you’re not only blessed with youth (for now!), but it also means that you’re going to go through quite a bit of trouble when looking to purchase a home in the future. Living in Toronto is one of those things that people take seriously. The cost is high, but the amount of culture and other types of richness that you experience is simply intriguing. It’s what brings so many people to the city, after all. With that being said, Millennials need to curb their expectations when it comes to living in a single-family, low-rise home; there simply isn’t enough land in place to allow that. If you could build entire homes on top of one another, I’m sure they’d allow it! BMO conducted a survey during the month of April, and it told us that around 70% of Millennials hold owning a home as quite important. Although it’s important to them, they are still willing to wait until they can afford one they’d enjoy.

It might not just be a matter of waiting until you can afford it, as opposed to just adjusting your expectations in general. When land values are rising, you need to curb your enthusiasm – property is one of those investments that requires a lot of money. Frank Clayton, who is a senior researcher at the Centre for Urban Research and Land Development (Ryerson University) stated that: “This is a ‘905 problem’”. The city and surrounding areas just don’t have the sheer number of housing units needed to account for everybody, especially Millennials. Some researchers argue that laneway housing in specific neighbourhoods could be the way to save space, but only time will tell how successful we are able to be with our endeavours. This is a boom, as opposed to a “bubble” – you can expect these prices to stick around for quite some time. If you’re serious about living in a low-rise home, you may have to move around the country a little bit. In order to get serious about your property needs, you’ve got to understand the industry at its core. Millennials are pretty much forgotten about when it comes to purchasing/owning a home, because it’s so far out of reach for most. If you start saving up now (and understanding the real estate market), you should still be in pretty good hands.

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How Much Income is Needed to Buy a Home in the GTA?

It’s a well-known fact that buying a home is a serious process, one that’s going to require a lot of research and due diligence. In order to even become a potential homeowner in the GTA area, you may have to make much more money than you had initially thought; odds are you’ll need to be in the six figure income bracket. Apparently, you need to earn about $124,153 CAD on a yearly basis (total throughout the household) in order to afford a home in the GTA. It’s for good reason, of course; the GTA is one of the most prominent regions in Southern Ontario. The location is great, the communities are awesome and there is just an abundance of positive traits to be taken into account. With that being said, it’s simply not attainable for everybody. Six figures is a lot of money to be made throughout the year, especially when you’re part of the newer generation.

If you’re in the group of Gen Y or any newer generation, gathering the amount of money needed to make a large deposit (a down-payment for your home) is going to be tough. Regardless of whether you’re looking into condo’s or a detached house, the price is always seemingly the same. Although, if you’re earning a bit less than the six figures per year, you can still find something reasonable. The location may not be the best (it’s not Toronto, but Brock near Lake Simcoe is a perfect example), but the pricing is going to be right. The six figure need has utilities and taxes factored in, and applies to every type of home you could imagine (whether it be a townhome, a bungalow, semis or condos) – so it’s pretty much set in stone. When it comes to buying a condo, you’re going to need an additional 6 percent of income to work with, especially if you want to live somewhere prominent, like Richmond Hill. Want a three car garage? That’s going to cost at least $1.5 million. The market is definitely high these days!

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Toronto Housing Prices Soar Through the Roof

The amount of money people pay to live in Toronto and such is astounding, but what about the GTA area? When you want to find a home in the GTA area, it’s going to be much pricier than it has been in the past – but that’s what happens when the supply of high-quality homes starts to run dry. During the month of July, there was actually an abundance of sales records being broken within the housing industry. With that being said, there is a particularly harmful trend that is creeping it’s way into the region. When it comes to the amount of homes being put up for sale, the number has become increasingly lacking as of late. This applies to detached homes, especially! There are tons of condos available, but not nearly enough “ground-based” housing projects to be considered. The lack of detached and townhome options is playing a part in the increased sale prices of homes, because the supply is much lower than the demand.

Frank Clayton, who is a senior researcher at Ryerson University’s Centre for Urban Research and Land Development, had taken a look at recent consumer surveys. He noticed that although there are provincial policies in place that would lean towards the production of condos, people whom are looking to buy property still want a home for themselves. Detached houses just seem like a much safer bet, as well as being looked at as the traditional way of living. If you’re a millennial, odds are you’ll be a little more interested in condos – but even the numbers themselves state that a low-rise house is much more suitable. When researching the numbers, low-rise houses had actually made up around 66% of all the homes sold within the region last year. When you look at this number compared alongside the 34% that condos made up, you realize the importance of having a decent supply of traditional homes (for sale, of course). Townhouses are always going to be a reasonable choice for renting, but owning a home is the ultimate goal in life.

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Condos vs Suburbs… Which Is Best For Families?

In recent years, a growing number of families have been favoring life in an urban condo over a house in the suburbs. Yet, suburbanites vehemently proclaim that the suburbs are more suitable place to raise a family. But how true is that clean? Let’s have a closer look.

Quality Time

It isn’t uncommon for GTA residents to spend between 30 minutes and an hour commuting each way to work. Over the course of a year, that adds up to days spent away from the home, sitting in your car. We’ve often heard parents complain that they barely get to see their young children during the week because they get home shortly before their bedtime.

With a condo in Liberty Village or another part of the city, that commuting time is cut down dramatically. Plus, with the nearby public transportation options, there’s no need to use the car at all.

Significant Cost Savings

When living in a condo downtown, not only will you find that you use your car far less, you may find it unnecessary to have it at all, particularly if yours is a two car family. You’ll also save on some of your energy bills since there isn’t a house to heat.

A Varied And Diverse Environment In Which To Raise Your Kids

Life in the city brings access to an incredible range of artistic, cultural and educational activities. Your children will have the benefit of experiencing people of different ethnicities and cultural backgrounds, providing a richer and well-rounded experience.

There’s also a plethora of great family-friendly activities only a stone’s throw away. You’ll love taking the kids to nearby playgrounds, parks, museums and movie theaters.

Families In Downtown Condos Tend To Be More Active

With all the amenities like schools, shops and parks within walking distance, you’ll find you spend far less time in the car and more time walking, biking or taking public transit. All of this adds up to a more active, physical lifestyle.

Boosting Social Skills And Self Confidence

When children have the opportunity to interact with a larger number of culturally diverse people, their social skills tend to be better developed. Life in the city also helps improve their sense of self-reliance and confidence as they learn to navigate the street and use public transit and the subway.

These are just a few reasons that more and more families are trading in the backyards and picket fences for life in a downtown or Liberty Village condo. It seems a simple choice if it means you’ll be able to spend more time with your family, save money and provide a fuller and healthier childhood for your kids.

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Tips For Finding A Great Mortgage Broker In Liberty Village

If you’re pondering the purchase of a Liberty Village condo, the thought of getting a good mortgage is probably weighing heavily on your mind. It’s a critically important financial decision, and the terms of your mortgage can make all the difference in the world.

Working with a mortgage broker in Liberty Village can have some definite advantages over dealing directly with a lender like a bank or credit union. A broker can shop around to various different lending sources to find the best and most appropriate deal for you.

But how do you find a good mortgage broker who will help you secure the financing you need? Let’s have a look at some suggestions that you may find helpful in the process.

Ask Others

Speak to your friends and colleagues who may have also recently made a real estate purchase. Find out if they used a mortgage broker and whether or not they were satisfied. If you already have a real estate agent, he or she may also have someone to recommend. Getting a referral from someone you trust can go a long way in setting your mind at ease about your mortgage broker and getting your relationship off on the right foot.

Do Your Own Research

Ask your potential Liberty Village mortgage brokers about their past transactions, what kind of experience they have with residential mortgages, and ask if you can speak to some of their past clients. Of course, you should also make sure that they are fully licensed.

You can also consult the Internet to look for customer feedback on sites like Yelp. Don’t hesitate to do your due diligence in researching a mortgage broker. After all, this transaction may be part of your life for the next two or three decades.

Visit Their Office

If possible, book an appointment to meet them at their office. This will give you an opportunity to see how they work, how organized they are and how professionally they conduct their business.

Find Out About The Criteria They Use For Making Recommendations

Mortgage brokers in Liberty Village are paid commissions to sell loans. Find out as much as you can about the commissions they are paid, as well as any fees that may be applied for their services.

Find Someone You Like

It may seem obvious, but you should be sure that you feel comfortable and confident when speaking with your Liberty Village mortgage broker. You need to have a feeling of trust and ease with them so that your discussions can be clear and as smooth as possible.

Once you’ve found the right mortgage broker to help you get your financing, you’ll be well on your way towards buying that amazing condo in Liberty Village.

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Tips For Selling Your Liberty Village Condo

If the time has come to sell your Liberty Village condo, you’re going to want to do everything you can to get the best price possible and sell it as quickly as possible. In a competitive seller’s market, you need to get a competitive edge over the other condos currently listed.

So what can you do to achieve these goals? Let’s look at a few strategies that can help to get the job done.

Choose The Right Agent

Some Liberty Village condo owners believe that all they need from their listing agent is the ability to have the property listed on MLS to get it sold fast. Unfortunately, that’s not always the case.

An experienced realtor who specializes in Liberty Village condos can provide you the level of service you need and the kind of expertise that can help get results and avoid pitfalls. Obviously, you want to get the most out of your real estate investment. To do that, look for a realtor who consistently achieves outstanding results.

Getting Your Liberty Village Condo Ready For Sale

You want anyone visiting your condo, whether it’s in person or online, to get a great first impression and be able to picture themselves living there. The best way to achieve this is by removing all of the clutter as well as personal items such as portraits and other personal memorabilia.

If there are any repairs that you have been putting off, now is the time to have them completed. And if the walls are looking grimy, you may want to consider a new coat of paint, particularly if your colours are anything but neutral.

Clean every room thoroughly. If necessary, rent a carpet cleaner to brighten them up. If cleaning isn’t your strong suit, or you simply don’t have the time to get it done, you can hire a local cleaning service.

Stage each room to show it in its best possible light. This means arranging the furniture to give the room as open a look as possible to add to the illusion of size.

When your condo in Liberty Village is carefully staged and free of clutter and personalization, it will appeal to a greater number of potential buyers who will be able to visualize their own stuff in each room. Staging will also result in better pictures online. Again, if you’re not sure how to get this done, you can hire a professional stager to help.

Setting The Price of Your Liberty Village Condo

Finding a price that is just right and that will attract buyers and get you the best possible results can be very tricky. Once again, this is an area where an experienced and knowledgeable realtor who knows Liberty Village condos extremely well can be a great asset.

Toronto Real estate agents often look at the price per square foot of recent condo sales to suggest the value of your condo. While this formula can provide a good starting point, it’s important to remember that other variables can have an impact on price. Some of these factors include what floor your condo is on (higher floors tend to get a better price), whether your condo has great views, is a corner unit or has a design that offers more liveable space.

Other considerations could have an affect your asking price, including: parking, storage space, amenities within the building, maintenance fees, and outdoor space like balconies or terraces. Keep all of these factors in mind and work with your realtor come up with the optimal asking price that will get you the attention you need for a quick sale at a great price.

It’s a lot to think about and to get done, for sure. Turn to your realtor for help and suggestions. Before you know it, your Liberty Village condo will be sold.

Not sure what your Liberty Village condo is worth? Click here to get a fast, free consultation with comparables sent directly to your email.

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Chinese Investments Within Canadian Real Estate On Course to Increase During 2016

Foreign property investors are always a great thing to be looking at, especially when it comes to Canada. Since our dollar has been relatively weak as of recent, it helps that we have Chinese investors coming or to look at properties. Foreign demands for properties around our region have resulted in price increases, as well as creating multi-million dollar homes in an abundance of cities (much like Vancouver). When you look at Juwai.com, which is a property search engine built to be used by Chinese buyers, the amount of terms related to Canadian real estate properties surged higher by around 134%. The sheer popularity alone is enough to understand how much Chinese buyers love Canadian real estate. When you look at the amount of interest being sported, it looks like Chinese investors are looking to move their money abroad. The current economy of China is somewhat unstable, and large investors could be avoiding potential risks by moving everything over here. The stock market is also quite volatile in China, and even government officials are locking down the reigns of capital flight. Juwai conducted a survey and found that around a 55% increase in international property purchases is expected.

Vancouver and Toronto are the main areas to be looked at in this situation, but Canada as a whole is a pretty large target. If there aren’t any drastic changes in the way things are going, we can expect to see a major increase in the amount of Chinese investors purchasing Canadian real estate. As time progresses, we can only expect to see more and more of these moves being made. If the government of China takes it upon themselves to loosen their grip on capital, we’ll definitely see a huge increase in the number of foreign investors buying property within Canada. Australia and the United States are other regions that should be expecting a large surge of investments, specifically, as the year moves along. 2016 is the year of real estate investments, be it of the foreign or local variety.

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The Importance of A Home Inspection

If you are in the process of purchasing Liberty Village real estate, many different components must come together before you can move in to your new home. Even after you have found the ideal location, made a deal and secured financing, a professional home inspection must be part of the equation. Some see it as an unnecessary expense, but without it, you are asking for trouble.

Why is a Home Inspection Necessary?

A home inspection refers to a visual inspection of the condition and structure of a home. It is carried out by a licensed home inspector and includes things like the plumbing, electrical, ventilation, foundation, insulation, doors and windows, exterior walls, ceilings and floors, roof, heating and AC systems and drainage. For King West Condos that have common areas for residents, the home inspector will examine those, as well.

An inspection is necessary because it will reveal any issues that are present or just below the surface, ready to make themselves known. When a home inspection reveals problems with any one of the components mentioned above, it is brought to the attention of the current owner and revisions are made to the offer, or it may be rescinded altogether. There are countless tales of naïve homeowners buying a home with no home inspection, only to have to pay thousands for repairs shortly after moving in.

Using the Results to Your Advantage

Like any area, Liberty Village real estate also requires a professional home inspection, just to be safe. Having a home inspection on your King West Condo means you might be able to negotiate for a better deal based on the results. At the very least, the current owner will have to make the required repairs, and you won’t have to concern yourself with those issues after you move in.

Hiring an Inspector

Hiring a reputable, experienced home inspector is key when in the market for a prime piece of Liberty Village real estate. Shop around a little, and ask the important questions before you allow him to represent you. Ask for a copy of the inspection report, whether he has the necessary insurance, if he has references and if he has experience in properties like King West Condos.

If you are going to go through the process, it makes sense to do it right. The fewer unpleasant surprises you receive in the home buying process, the better, and a quality home inspection is a great way to start.

Condomove.ca agents can help connect you with a veteran inspector to best serve your needs. Visit our Toronto Home Inspectors page here.

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About DNA 3 Condo in Liberty Village

There’s no question that anyone searching for a Liberty Village condo has a lot of exciting addresses to choose from. After all, Liberty Village in Toronto is one of the hippest and trendiest areas in the city, and people from all walks of life like to be part of the scene.

There’s nothing quite like living right in Liberty Village, and DNA 3 certainly takes that experience to another level.

The Basics of DNA 3 Condo

DNA 3 is a new condo development at 1030 King St West in Toronto, by Canderel Residential. There are a total of 600 units, and the project was completed back in 2014. As the name suggests, DNA 3 is the third phase of the DNA projects, and it complements the other two buildings perfectly.

Lobby-DNA-3
Inside the lobby at DNA 3 Condos

On the ground floor of DNA 3, you’ll find shopping and banking options with a TD Bank, Loblaws, and Urban Market Grocery. There is also a Sleep Country location for when you need a new mattress for your Liberty Village condo. The building has a glass exterior, making it stand out as yet another symbol of elegance in Liberty Village.

Inside the Units

Inside the units at DNA 3 condo, you’ll find a range of features that will make you never want to leave. The units offer modern kitchen designs that are as unique as they are stunning. These include a Caesar stone countertop, stylish island, back painted glass backsplash, halogen track lighting, and stainless steel fridge, oven, dishwasher microwave and hood fan.

In the bathroom, you’ll find a custom-designed sink, deep soaker tub, mirrored medicine cabinets, separate shower stall and a contemporary vanity. There is engineered wood flooring throughout the units, except for the bathroom and laundry room, which both feature porcelain tile. The ensuite laundry closet also features a stacked washer and dryer, so you never have to do laundry anywhere else.

Awesome Amenities

Some of the amenities available to residents include an exercise studio with yoga room, changes rooms, and the first “rain room” in Toronto. Residents also have access to private party rooms, games room with a lounge and bar, a theatre room and complete business centre. All of these amenities make DNA 3 a sought after place to live, as if Liberty Village in Toronto wasn’t enough on its own.

DNA 3 is the ideal Liberty Village condo for anyone looking to take advantage of everything this exciting part of the city has to offer.

Looking to buy or sell in DNA 3 condos? Check out DNA 3 condo units for sale and rent here. Also included is more about the building and floorplans for each unit.