Jim Burtnick, Author at Silver Burtnick & Associates

Although Toronto was once known for its fast-moving seller’s market, a quick sale is no longer guaranteed. If your home is spending too much time on the market, there’s a reason. Yes, it could be related to an overall market slowdown, however, if your home is far outlasting other listings (especially those that are similar to yours) there are likely other factors at play.

As one of Toronto’s top real estate teams, we know a thing or two about how to sell successfully. In this blog post, we’ll highlight some common mistakes sellers make that can lead to their home spending more time on the market – and how you can avoid them.

Pricing Too High

One of the most common reasons a home doesn’t sell is because it’s priced too high. While it’s natural to want to maximize your profits, an unrealistic price can discourage potential buyers from even considering your property.

You may think the right move is to price high and let interested buyers submit an offer below-asking, however, this can actually deter potential buyers from expressing interest in your home altogether.

To set the right price, research comparable properties in your area, consider the current market conditions and consult with a real estate professional. A well-priced home will attract more interest as a higher volume of buyers will find it within their search parameters. This can potentially lead to multiple offers or even a bidding war – a gold standard in Toronto real estate.

Thinking about downsizing your home? Explore these blog posts for helpful real estate tips.

Skipping Preparations

Homebuyers often make up their minds within the first few moments of entering a property. Failing to prepare your home adequately for showings can lead to a lack of interest. Cluttered spaces, outdated decor or furniture, and visible issues can make potential buyers look elsewhere.

So, before listing your home, invest some time in decluttering, deep cleaning, and addressing any minor repairs that need to be made. While this will take some effort, it’ll help your home compete with other listings on the market.

Should I Stage My Home?

Staging is a specialized step in the preparation process. Unlike certain things like cleaning and decluttering, which you can take on yourself, effective staging often requires professional assistance. But why is it so important?

In short, staging creates the most appealing version of your home’s atmosphere. Using your home’s existing strengths, staging makes the space feel welcoming, inviting, and cohesive. Then, as potential buyers tour your home, they’re able to envision themselves living and thriving there.

Looking for more information about renovating your home before it hits the market? Click here to read our blog post on the topic.

Not Getting the Word Out

Generating buyer interest in your home will require a dedicated marketing plan. Although Toronto real estate is in high demand, it’s still important to get your home in front of as many buyers as you can.

The more exposure your home receives, the higher the chances of finding the right buyer. If you simply list your home on MLS and wait for people to take notice, you’re not going to get the best result possible.

As a homeowner, you may be fairly limited in how you can get the word out about your home on your own. Instead, effective marketing is really about working with a real estate agent that has a sizable toolkit of advertising techniques. More on that next.

Looking to maximize the sale of your Toronto home? We’ve got you covered. Check out these blog posts.

Choosing the Wrong Agent

Toronto is home to more than 65,000 real estate agents, and selecting the right one will be a critical decision that can greatly impact the success of your sale. An experienced and knowledgeable agent can guide you through the process, offer valuable insights, and effectively market your home.

On the other hand, an inexperienced or disengaged agent might not provide the support and expertise needed to sell your home quickly and at the best possible price. Do your research, read reviews, and interview multiple agents before making your choice.

Thinking about selling your home? Our industry-leading strategies can ensure you get the best possible result in Toronto’s ever-shifting market. Call 416-587-3300 to get in touch, or click here to send us an email.

In today’s real estate landscape, finding a home that meets your needs (and budget) isn’t always easy. For many buyers, opting for a home that needs a little bit of work – also called a fixer-upper, can be an effective way to make the most of their purchase.

That being said, if you’re thinking about heading to the market, you shouldn’t just buy an old home that needs work. Some properties might not offer a great payoff, while others could have you swamped with renovations for years.

So how do you find the perfect fixer-upper home, turn it into an amazing place to live, and optimize its long-term value? In this blog, we’ll share our best tips for doing exactly that.

Click here to learn about finding your dream neighbourhood as a home buyer.

The Perfect Ratio

While the allure of a fixer-upper lies in its potential for improvement, it’s essential to not bite off more than you can chew with the work that’s required.

Instead of picking the cheapest option on the market, buying a fixer-upper is all about balance. You’ll want to find a home with a solid foundation and good overall condition but still needs some TLC.

If you buy a home that’s 100% turn-key, you won’t get the best bang for your buck. Or, if you buy a home that’s only 30% in good shape, you could wind up investing way more than you need to in renovations. As a general rule of thumb, the perfect fixer-upper should be about 75% there.

Looking for more helpful tips on navigating the various rules and regulations of real estate? Check out these blog posts.

Matching Tastes to Market

One of the key advantages of a fixer-upper is the opportunity to tailor the home to your personal taste and style. However, it’s important to strike a balance between your preferences and renovations that have broad appeal. When you go to sell your home down the line, you’ll want to be able to appeal to as many buyers as possible.

By making strategic choices during the renovation process, you can create a home that stands out while still appealing to a wide range of potential buyers. One effective way to ensure your upgrades stand the test of time is by working with an expert – more on that in a moment.

Seek Outside Help

Turning a fixer-upper into a beautiful top-tier home can be a fun journey. However, renovations should always be taken seriously. Even if you have a penchant for DIY projects, there are some things you’ll want to leave to the experts.

For Design

One of the most enjoyable parts of transforming a fixer-upper is getting to highlighting your personal tastes (along with ensuring wider appeal). That being said, executing your specific vision is always best accomplished with the help of a professional – someone with a keen eye for design and expertise in remodelling.

If you’re serious about maximizing your home’s atmosphere (and ROI) working with a professional designer or architect can be invaluable. They can help you visualize the potential of the space, maximize functionality, stay on budget, and suggest creative solutions that you may not have considered. With their guidance, you can avoid costly design mistakes and create a cohesive aesthetic that elevates the value and appeal of your home.

Looking to give your home’s long-term resale value a boost? Explore these related readings for advice on how to do exactly that.

For Inspection

As with any type of renovations or home upgrades, safety should be a top priority as your work on your fixer-upper. With that in mind, it’s absolutely necessary to have the home professionally inspected before, during and after your renovations. An inspector can point out any potential issues that may not be immediately apparent – from electrical and plumbing systems to the structural integrity of the property.

Choosing to forgo an inspection is dangerous, potentially costly, and in many instances illegal. Be sure to ask your real estate agent about local regulations and red tape that may impact your project.

Want to find the perfect fixer-upper? Our industry-leading strategies and guidance can ensure you get the best possible result in Toronto’s ever-shifting market. Call 416-587-3300 to get in touch, or click here to send us an email.

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For many downsizers in Toronto, transitioning to a smaller home often means moving into a condo. While there are plenty of amazing properties that offer a high quality of life, easy access to the essentials and on-site amenities, not every home seller will be ready for condo living – and that’s okay!

As a long-serving real estate team in Toronto’s vibrant core, we know the ins and outs of every type of property on the market – and then some. It’s our passion to help buyers of all backgrounds, including downsizers, find the perfect home.

With that in mind, this blog post will look at some of the housing alternatives for downsizers that aren’t condos. Let’s get started.

Looking to maximize the sale of your Toronto home? We’ve got you covered. Check out these blog posts.

Rightsizing Not Downsizing

To us, rightsizing is all about creating a living space that’s perfect for you, at any stage of life. With that in mind, transitioning to a smaller or more compact home should ultimately reflect your needs, tastes, and long-term vision.

Regardless of which type of home will be best for your next chapter, the same overall benefits of downsizing will apply. For instance, moving to a smaller property usually allows downsizers to free up some of the equity they’ve built in their existing home. This wealth can then be factored into your future financial roadmap, such as your planning for retirement.

Downsizing can also lead to a cleaner, more simplified lifestyle. Speaking generally, moving to a home with less square footage means less time spent on chores like cleaning and maintenance – giving you more opportunities to engage in activities you enjoy most.

Ready to find your next home? Click here to download our complete guide to rightsizing.

Exploring Alternatives

Smaller Homes

If you’re ready to downsize from your current property but aren’t looking for anything too compact just yet, there’s always the option of simply buying a smaller home. This route allows you to shrink down your space, maintenance duties, and costs, all without a drastic change in lifestyle.

The best part? Many of these smaller homes are found in Toronto’s historic core. Click here to read our blog on what to know before you buy a home downtown.

Townhouses

Townhouses, also called townhomes are another great alternative for downsizers who are looking for a little more space. What makes this unique type of housing particularly suited to downsizers is that they’re almost an exact hybrid of a condo and a regular home.

Unlike a detached or semi-detached home, townhouses belong to a board much like a condo would. With that in mind, they share a handful of the same conveniences (and fees) of a traditional condo but with a little more square footage.

Click here to learn more about the joy of simplifying your home.

Garden Suites

Garden suites are a newcomer in the Toronto real estate landscape. Although they may be the least common option on this list, it’s not because of a lack of benefits.

As a rightsizer, your options for living in a garden suite are twofold. The first option is to sell and find a for-lease garden suite that’s ready to be lived in. Or, if your current property has the space, you could build your own. Then, after moving in, you’ll have the option to rent out your current home to earn some great passive income.

We interviewed Marty Steele from Laneway Housing Advisors, who do fantastic work to help educate homeowners on the process of building garden and laneway suites in Toronto. Click here to read.

Buying a home in downtown Toronto? You’ll want to work with a knowledgeable real estate agent. Visit these blog posts for helpful tips.

Guiding Your Journey

Rightsizing is a little more complex than your average move. That’s why we’ve created a dedicated system to make the process as seamless as possible for our clients.

Our approach to rightsizing is end-to-end. We understand both parts of the process – selling and buying inside and out. It’s our goal to not only help you achieve a great result but to also take the weight off your shoulders. We’ll coordinate all the logistics and moving parts on your behalf so you can focus on enjoying your transition.

As an experienced and collaborative real estate team, we can help you navigate the process of rightsizing. When you’re ready to begin your next chapter, click here to get in touch.

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The demand for affordable housing in Toronto has been steadily increasing in recent years. As a result, many homeowners have started to explore alternative housing options, such as garden suites, as a way to generate additional income or provide affordable housing for family members or renters.

Garden suites are self-contained living spaces, typically built in the backyard of an existing property. As a relatively new trend, many homeowners and potential buyers have questions about garden suites, their advantages, and the long-term implications on local real estate.

For answers to some of these burning questions, we spoke with Marty Steele from Laneway Housing Advisors, who do fantastic work to help educate homeowners on the process of building garden and laneway suites in Toronto.

Older homes in Toronto may face unique restrictions based on their age or historical significance. To learn more, click here.

Who Do Garden Suites Work Best For?

“When the laneway house program began in 2018, most of us in the industry expected upwards of 80% of the builds to be strictly for rental income” explains Marty. “But fast forward nearly five years now, with over 500 building permit applications in, and hundreds built, we estimate less than 60% are actually used as traditional rentals.”

Instead of mostly renters, many of these suites are used for hosting guests or extended family. Additionally, as aging in place is becoming an increasingly popular path for homeowners, we’re also seeing some downsizers move from their original homes into backyard garden suites.

How Much Space Will I Need to Build a Garden Suite?

“We are not concerned so much about the overall lot size, it’s the size of the rear yard that’s important. As a general rule of thumb, you want a yard that is at least 25 feet wide and 50 feet from the back of the existing house to the rear property line” says Marty.

In addition to space, Marty explains that there are other legal requirements to be aware of. “There must be a pathway from the front yard down one side of the house, to the back yard where the garden suite stands. This is so first responders can access the suite.”

Looking for more investor-focused blog posts? Check out these articles from our site.

Can Neighbours Protest or Prevent the Construction of a Garden Suite?

In most cases, no. However, there are a few exceptions.

“If you build your garden suite within the set-out codes and bylaws, then your neighbours have no say over your build. However, if you are asking for a minor variance or variances that put your build outside of the guidelines, you will have to appeal to the Committee of Adjustment, and here your neighbours will have a say about your requests.” Marty explains.

On Average, What Kind of ROI Could Homeowners Expert From a Garden Suite?

Like any major renovation project, there are a lot of variables in determining ROI, so any estimations should be made on an individual basis. However, Marty notes that the upfront cost of these projects can have an edge over other income properties in the city.

“The build cost of a garden suite will range from $400 to $550 per square foot. You could compare this to a brand new downtown condo that you’ll purchase for $1,000 per square foot.”

Have more questions about home renovations? You may find these blogs helpful.

What Are Some Misconceptions People Have About Garden Suites?

Given the recency of these types of properties, there are some myths and misconceptions floating around about garden suites.

Marty notes, “Some homeowners think garden suites are quick and inexpensive builds, or they assume they can make some very minor modifications to an existing garage, and then it’s now a garden suite.” Unfortunately, it’s not that easy.

“The reality is that garden suites are just like small houses, and have to be built to the same building code level as any new house would. This includes foundation, insulation, mechanical and life-safety. With that in mind, it can be a high-cost investment.”

What Do You Predict the Impact of Garden Suites Will Be in Toronto Over the Next Decade?

The general shortage of housing inventory will continue to introduce new challenges as the city grows in the coming years. Garden suites can provide some relief, but as Marty notes, they’re not a complete solution.

“It’s a good program, but it alone cannot nearly accommodate the projected population growth for the city or province. It can be a small part of the solution, but the take-up rate will need to be much higher than it is today to make any impact.”

Considering adding a Garden Suite to your property? As seasoned experts in Toronto real estate, our team would be happy to assist you. Click here to get in touch.

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Living in central Toronto – the vibrant heart of Canada’s largest city is nothing short of exciting. With gorgeous and historic homes and neighbourhoods, spirited energy, and truly endless cultural amenities, there really is no other place like it.

Of course, buying a home downtown isn’t just great from a lifestyle standpoint. With some of the most in-demand real estate in the world, owning property here makes for a great investment.

In short, there are countless advantages to buying in the city centre, but there are also a few special considerations too. Here are five things house hunters should take into account before buying downtown.

The Homes Are Older

From a real estate perspective, one of the most important considerations about buying a property downtown is the age of the homes. Neighbourhoods in the city centre include some of the oldest in all of Canada. Cabbagetown, for example, features homes dating all the way back to the 1800s.

While these heritage properties are remarkably charming and picturesque, there are certain age-related factors to consider. If a home is older and hasn’t been upgraded or renovated, there’s a high chance that it will require some work down the line. You’ll want to keep this in mind before placing an offer.

Buying a home in downtown Toronto? You’ll want to work with a locally knowledgeable real estate agent. Visit these blog posts for helpful tips.

It’s Just as Neighbourly as the Suburbs

Today when most Torontonians think of the downtown core they think of fast-paced, ultra-urban living. While it certainly does feel like a big city, living downtown can feel just as private and close-knit as in the suburbs.

One of the hands-down highlights of central Toronto is its diverse array of neighbourhoods. For buyers who are looking for something that’s more removed from the hustle and bustle, there are plenty of great options. Areas like Harbord Village, Cabbagetown, or Grange Park all have quaint and neighbourly atmospheres despite being just steps away from the action!

Click here to learn about finding your dream neighbourhood as a home buyer.

There Are Unique Add-on Costs

On its own, buying a home is no small expense. And, if you buy in the city centre, there may be unique recurring costs that you wouldn’t face elsewhere in the city.

One common example is parking. As you might expect, parking spaces are a hot commodity in downtown Toronto. Depending on where you buy, you could be looking at a fairly substantial monthly rate just to keep your car nearby. That being said, after getting settled in you may find that you no longer need your car as the core is well-served by public transit.

In the case of condos, which are a popular path to homeownership for many downtown buyers, you’ll need to budget for condo fees in addition to your mortgage payments.

Getting ready to buy your first home? Explore these resources to help make it a great success.

Gentrification is Moving Quickly

As Toronto evolves, its core neighbourhoods will continue to see fast-paced gentrification. This type of development has its advantages, such as increased housing inventory and higher-quality amenities, but there are drawbacks as well.

For example, if one of the things you love most about your new home is the amazing view from your top-floor window or balcony, future developments such as high-rise condos could eventually obstruct your line of sight. Or, if you’re particularly fond of the independent businesses in your neighbourhood, rising costs could cause your favourite spot to relocate elsewhere.

Your Buying Agent Matters

In addition to being a unique place to call home, Toronto’s urban core also has a distinct and fairly nuanced real estate market. If you’re looking to buy a home here, you’ll want to find the best possible real estate agent for the job.

Downtown is a remarkable place to live, but there are special considerations that come with it. When it comes time to buy, working with an agent who specializes in the city’s central neighbourhoods is your best route to success.

In addition to the factors outlined above, a full-service local agent will ensure you’re educated and informed throughout your buying journey. Whatever you need to know to find a home that you love, they’ll make sure you know it.

Searching for a Toronto real estate agent with decades of experience in the downtown core? Silver Burtnick & Associates would love to work with you. Click here to get in touch with us.

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In real estate, older doesn’t always mean less valuable. Especially in Toronto.

As a historic, centuries-old city, Toronto retains a great collection of beautiful heritage homes. Spanning a vast range of architectural styles, ages, and aesthetics, these homes paint a charming picture of our past.

Of course, heritage homes aren’t just valuable from a cultural perspective. They’re also incredibly sought-after pieces of real estate. Both a great place to call home and a high-equity investment, older properties in Toronto can hold and appreciate in market value quite well.

That said, heritage homes may also carry certain restrictions. Under municipal and provincial law, certain homes and neighbourhoods may hold unique statuses that could impact their use, modification, and sale. Therefore, both buyers and sellers in Toronto’s historic core should be aware of the specialized nature of heritage homes.

Click here to read 5 Things to Know Before You Buy a Home.

What is the Toronto Heritage Register?

The Toronto Heritage Register (THR) is a city initiative dedicated to protecting and preserving historic properties with significant cultural value. In addition to non-residential buildings and landmarks, the THR also includes a large number of homes – particularly in Toronto’s core neighbourhoods.

As part of the Heritage Register, homes can fall under one of two categories: listed, or designated. When a property is listed it essentially means that it is under consideration for receiving a designation. Once a home is listed it is subject to some low-level restrictions. However, the rules and protections applied to a property will become much more strict once it reaches designated status.

The city is not legally required to inform or seek permission from property owners before listing a home on the register. However, owners are usually invited to a board meeting if their property is up for review.

Looking to maximize the sale of your Toronto home? We’ve got you covered. Check out these blog posts.

Identifying Impacted Properties

In Toronto, both individual properties and entire neighbourhoods can be recognized with the Heritage Register. In the instance of neighbourhoods, areas identified as Heritage Conservation Districts (HCDs) are used as a planning tool by the city to help preserve Toronto’s social, cultural and architectural history where possible. However, just because a home exists within an HCD, it doesn’t necessarily mean the property itself is listed or designated on the THR.

So how can you tell if your home or a home you’re interested in buying is included in the Heritage Register? Use the city’s Property Search Tool.

Considerations for Home Buyers

If you’re considering buying a Toronto home that’s included on the Heritage Register, there are a few things you will want to know in advance. Depending on which status the property holds, i.e. designated or listed, you may face certain restrictions as to how you can use, renovate, or modify the property down the line. These rules will mainly impact the exterior of the property, however, there will be implications that limit indoor upgrades as well.

Click here for helpful home maintainece tips.

In addition to end users, restrictions on designated properties may also affect investors who are looking for a home they can convert into rental units. Like any home purchase, your real estate agent can help you identify any factors that may impact your intended use of the property.

Although there will be red tape, many renovations are still completely acceptable under listing or designation. In fact, owners of heritage homes in Toronto may even be eligible for certain tax rebates and grants to assist with the costs of maintaining and preserving the property.

Dreaming of buying your first home? There’s a lot to know before you enter the market. Explore these blog posts to expand your knowledge about the process of buying a home in Toronto.

Selling a Heritage Home

While sellers of heritage homes typically have fewer long-term implications to consider compared with buyers, your sale could still be impacted in some way if the property is included on the Heritage Register. For instance, it may limit your ability to make strategic upgrades to the property before listing.

The best way to optimize the sale of your heritage home is by working with a real estate agent who has specific experience selling them. In Toronto, the demand for heritage homes is high. As a seller, you will want to ensure that you enjoy a profitable, high-return sale. An experienced agent will have the specialized knowledge, insights, and selling strategies to help you do just that.

Thinking about buying or selling a heritage home? As real estate experts who specialize in Toronto’s historic core, we can help. Send us an email or call 416-587-3300 to get started.

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Author: Jim Burtnick

Why Isn’t My Home Selling?

Pricing Too High