NEWS

The improving economic conditions and low borrowing costs helped in sustaining record-level sales in September, with sales up by 42.3% when compared to September 2019. This has also been fueled by the ongoing pent-up demand from the Spring downturn. It will be extremely important to monitor the direction of COVID-19 cases as we enter the 2nd wave of the coronavirus. Further improvements in the economy as well as job growth would further support strong home sales moving forward; however, the response from the government, and the impact on jobs and consumer confidence will be a factor affecting market conditions.


The average selling price for all home types combined (detached, semi-detached and townhouses) in September was up by 14% year-over-year at $960,722. This price growth was driven by the low-rise market segments with the increasing amounts of competition between buyers. The relatively better supplied condominium apartment segment, on the other hand, saw a comparatively slower pace of price growth.


TRREB MLS Sales & Average Price by Major Home Type (September 1 – 30, 2020)

It remains important to get a pulse of the market in your neighbourhood by working with a Real Estate Agent, to price your home accurately as well as effectively advertise and market your listing. Similarly, if you’re in the market to buy, a Real Estate Agent can enable you to get a sense of the market values in the areas that you may be considering.


We continue with our implemented Sell Safe and Buy Safe Action-Plans and use of digital technologies to perform contactless transactions. Please feel free to reach out to us at any time and we are glad to help answer any questions.


It’s our family helping yours!


Keep safe.


-Kristina & Rey




Its no doubt that we’ve all heard of smart home technology for a while now. These days controlling various aspects in your home is as simple as a quick “Hey Alexa!/Google!”. From thermostats to lights to cameras, there is a huge list of awesome gear to simplify and connect your home! Whether you’re new to smart home technology or someone who’s been using it for a while, we can all agree that these amazing items have been invaluable when it comes to the security and functionality of our homes. The great part about these technologies is the fact that you can completely customize the intricacy of your system. Below we’ve compiled a list of our favourite practical accessories!



Security Systems


Security systems give us peace of mind whether you’re out of the home or inside the home! Most can alert you (and announce) when a door or window is opened. There are some complex security systems out there, it’s a great idea to do your research when it comes to installation and monitoring fees. Some may opt for self-monitored systems with push notifications through app integrations on your smartphone or connected devices. However, these put the control in your hands with regards to responding to any out of the ordinary notifications.



Security Cameras


Other than deterring crime, security cameras serve many functions both outside and inside the home. They provide peace of mind to keep an eye on your cars and to view anyone in the proximity around your house. They can be especially useful for parents of school aged kids leaving and returning from school during the week!


A front door camera (or doorbell camera) is at the top of our list for handy accessories as it provides the comfort for the whole family before opening the door. Many cameras now detect motion and sound, which you can usually set up alerts for on your smartphone or viewing device. Many of these devices also have two way talk capability, which is great for deliveries!


The use of indoor cameras is great for kids’ rooms or to be used as a baby monitor (or pet monitor). They’re also very useful to keep an eye on the interior of any entry points to your home (i.e. garage door).



Thermostats


Smart thermostats are a complete game changer when it comes to efficiently controlling the temperature within your home. Many of the current smart thermostats have the ability to learn your heating and cooling patterns (ie. warmer during the day and cooler at night) and will also work in integration with some security systems to detect when the home is empty to help conserve energy use. Many users notice a great savings in their energy bills as a result of this!


Smoke and Carbon Monoxide Detectors


Smoke detectors are an essential part of the home to ensure safety. Many of the newer smoke detectors also include carbon monoxide sensors to detect the odorless gas. Some of the smart smoke detectors can actually alert you as to where it senses smoke or CO in your home, so that you can move quickly. These are an essential tool for any household!



Smart Lighting


Smart light bulbs and lighting are becoming a quite common household item. These LED bulbs are fantastic for energy conservation and can be controlled or timed easily using an integrated app on your smartphone or device. They can also be controlled by your home hubs (Google or Alexa) and many are capable to display an array of colours suiting your situation or mood!


This lighting can also give you a sense of comfort if you are away from your home for an extended period. You have the ability to turn on a few lights randomly so that the house doesn’t look vacant.


There are of course many, many other options and modifications you can make to completely automate the things we do within our homes. We hope this brief list helps to shed some light on a few possibilities and helps to inspire you to create your own smart home!


- Kristina & Rey





Many of our clients wonder about doing renovations before listing their home. These can range from a minor bathroom renovation to a complete kitchen overhaul. Renovations usually come at a pretty hefty price and many aren’t sure what their return will be in the grand scheme of things. We’ve included the most common areas you may consider before the sale of your home, and the typical return on your investment.


Minor Bath Remodel $7,000 to $10,000*


A minor bathroom remodel can include things like changing tiles and a new bathtub or vanity. A fresh coat of paint can brighten it up quickly! These changes can really update the look of an outdated bathroom, at a lower cost rather than a full renovation.


The average return at resale on a minor bathroom reno is around 80% of the cost.


Major Bath Remodel $10,000 to $18,000*


A major bath renovation includes a complete overhaul and redesign of the space, with new walls, floors, lighting, fixtures, vanity and shower or tub. This can also take into factor relocation of some of the plumbing and increasing or decreasing the size of the bathroom.


The average return at resale on a major bathroom reno is around 71% of the cost.


Minor Kitchen Remodel $10,000 to $15,000*


A minor kitchen renovation can include things like refacing cupboards, changing countertops, new light fixtures and a fresh coat of paint. A small renovation like this can completely transform an existing space at a fraction of the cost of a major renovation.


The average return at resale on a minor kitchen reno is around 98.5% of the cost.


Major Kitchen Remodel $15,000 to $30,000*


A major kitchen renovation is a quite expensive investment, but it usually includes an extensive list of changes. These changes can include new cupboards and counters, new countertops and backsplash, newly installed lighting, new or upgraded appliances, and a complete change of layout or relocation of plumbing.


The average return at resale on a major kitchen reno is around 91% of the cost.


Basement Remodel $25,000 to $50,000*


When getting into finishing a basement there are so many things to consider. Will you be adding a bathroom or kitchen? Will you be adding extra bedrooms? There are so many variations of cost when you start to play with ideas to add value to your basement space.


The average return at resale on a basement reno is around 81% of the cost.


Replacing Windows $10,000 to $20,000*


Aside from aesthetic reasons, updated windows can greatly improve the overall efficiency of a home. This can be super appealing to a buyer looking at an older home, as they will appreciate not needing to change them in the near future.


The average return at resale on a complete window replacement is around 74% of the cost.


Deck or Patio Addition $7,000 to $15,000*


Outdoor living space is fantastic for our warmer summer months! Whether it be for a dining table and chairs or a lounge area with a fire pit nearby, there is a great appeal to outdoor entertaining space.


The average return at resale on an added deck or patio space is around 67% of the cost.


We hope you found this information helpful regarding renovations in your own home. As always, we are here to provide valuable information about preparing for listing your home, as well as the listing process. Feel free to reach out to us at anytime!


- Kristina & Rey



* Prices indicated are approximate. Costs can vary based on size of area and finishes selected.

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REY KEYVANI
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*Not intended to solicit buyers or sellers currently under contract with a brokerage.

KRISTINA KEYVANI
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