Celebrate Sustainably: 5 Ideas for an Eco-Friendly Holiday at Home

 It's the most wonderful time of the year. But for many families with festive plans and hectic schedules, it's also the most wasteful. 

According to one survey, for example, 60% of respondents admitted to throwing away more than usual during the holiday months as they filled up their trash bins with uneaten food, wrapping paper, gift bags, and commercial packaging.¹

The reality is, Canadians routinely toss about 25% more trash during the holidays, according to Zero Waste Canada.²In fact, we throw away so much wrapping paper that the waste, combined with castoff shopping bags, is estimated to weigh as much as 100,000 elephants.^2,3

As our holiday schedules grow busier, many of us also forget to take simple steps at home to shrink our carbon footprints or prepare for a more energy-efficient winter. 

Luckily, it’s not that hard to shift our habits and plan for a more sustainable and environmentally-friendly celebration. Here are five ideas for ringing in the holidays this year without overstressing Mother Nature.

1. PREP YOUR HOME FOR WINTER

Depending on the amount of time and resources you have available, you could cut your carbon emissions significantly this season just by winterizing your home. According to Natural Resources Canada, around 61% of the average home's energy usage goes to heating.⁴

Investing in a more sustainable way to warm up your surroundings, such as a conventional or cold climate heat pump, could be especially impactful if your current HVAC is underperforming. The Canadian Climate Institute's Heat Pump Calculator estimates that homeowners can potentially save hundreds of dollars a year by switching from a gas furnace to a more energy-efficient heat pump.⁵ Replacing old appliances or things like chronically leaking windows with newer, more energy-efficient solutions can also save you money over the long term.⁶ Plus, you may qualify for a federal grant or...

35 Tips to Furnish Your New Home for Less

Buying a new home is one of the most exciting experiences in life. And if you’re like most homebuyers, you’ll be planning your furniture placement and decor before the ink dries on your offer letter.

But before you run to the nearest home goods store, take a deep breath. First, you’ll need to delay any major purchases before you close on your new home. A large outlay or additional line of credit could affect your credit rating and, thus, impact your mortgage terms.¹ Second, moving and closing costs can add up quickly, so it’s important to be strategic with your remaining budget.

But don’t worry! There are plenty of ways to save on home essentials, and I have rounded up some of my favourites to share with you. 

PRIORITIZE WHAT YOU REALLY NEED BEFORE YOU START SHOPPING

According to the nonprofit Furniture Bank, you could spend around $8,300 to outfit a one-bedroom apartment with the essentials, and the costs only go up from there for larger homes and higher-end items.² That’s why we recommend starting with a thorough assessment of what you already have and what you actually need to start life in your new place. Here are some steps to help you prioritize your purchases and keep spending in check. 

• Make a list of everything you need. Going room by room could help you brainstorm—for example, you might list items ranging from a mattress to blackout curtains for your new primary bedroom. 

• Inventory what you already have. Cross the big (dining table) to the small (kitchen knives) off your list as you go. 

• Divide the remaining items into three groups: things you need right away (a mattress), items you’d like to have in the near future (a coffee table for your living room), and pieces that can wait (an area rug). 

• Calculate your budget. Figure out how much money you’ll have available for immediate purchases after the sale has...

Income Properties Are Trending, But Is Landlord Life for You?

If the thought of investing your money into brick and mortar—or perhaps some stylishly-painted siding—excites you, join the club. 

Investing in real estate has long been one of Canadians' favourite ways to grow their wealth. According to a poll by CIBC, 15% of Canadian homeowners already earn some rental income, while another 11% aspire to it. What's more, over a third of current homeowners (37%) say they'd look for a property with income potential if they were buying a new home.¹

Baby boomers over the age of 55 are especially likely to own an income property these days.² But according to Statistics Canada, a growing share of millennials in their 30s and 40s have also cashed in on the real estate investment trend.³ The Bank of Canada estimates that at least 20% of newly purchased homes are now owned by individual investors, up from 18% in 2015.⁴

Canadians have historically embraced real estate, in part, because of the strong return on investment it can offer—especially to investors willing to stick with a property over time. It's also a popular way to hedge against inflation since both rental income and property values tend to rise in tandem with overall prices.⁵

But how do you know if you’re well-suited to take advantage of real estate investment opportunities? Here are three signs that owning a rental property could be right for you.

1. YOU'RE A HOMEBUYER WHO WANTS HELP COVERING THE MORTGAGE

If you're looking for a creative way to buy a home without overspending, “house hacking” could be the answer. Increasingly popular with first-time homebuyers and budget-conscious investors, house hacking simply means buying a home that you intend to live in while renting out a portion of it to one or more tenants.⁶

In addition to padding your monthly income, buying a home with a self-contained income suite can make it easier for you to qualify for a mortgage. If a secondary...

Top 7 Tips To Attract the Best Offers for Your Home

 Not long ago, home sellers were in their heyday, as historically-low mortgage rates triggered a real estate buying frenzy. However, the Bank of Canada shut down the party when it began raising interest rates last year.¹

Now, it’s not as simple to sell a home. While pandemic-era homebuyers were racing the clock—trying to lock in a low mortgage rate and gain a foothold in the market—current buyers are much more discerning. Higher prices and mortgage rates have pushed their limits of affordability, leading them to prioritize cost, condition, and overall value.

The reality is, home inventory remains low, so most properties will still sell with some basic prep, the right price, and a good real estate agent. But owners who go the extra mile are more likely to sell faster and for a higher amount.

If you have plans to sell your home and want to net the most money possible, this list is for you. Here are our top seven strategies to attract the best offers and maximize your real estate returns.

1. UNDERGO A PRE-LISTING INSPECTION

Many homebuyers hire a professional to complete a home inspection before they close. But did you know that a seller can order their own inspection, known as a pre-listing inspection, before they put their home on the market? 

Having a pre-listing inspection on hand and ready to share shows interested buyers that you’re committed to a transparent transaction. This can help you market your home, strengthen your negotiating position, and minimize roadblocks to closing.²

Of course, it’s always possible that a pre-listing inspection—which looks at the home’s major systems and structures, among other things—could turn up a significant problem. This does carry some risk, as you’ll be required to either fix or disclose any issues to potential buyers. However, in most cases, it’s better to know about and address deficiencies upfront than to find...

7 Common Homebuyer Regrets (And How To Avoid Them) 

 To avoid buyer's remorse, be sure to consider your future self when shopping for a home.

Most new homebuyers don't regret becoming homeowners. In fact, according to a recent survey by Zolo, 80% of Canadians who purchased a home during the pandemic say they're glad they bought their current homes.¹ But that doesn't mean newly-minted homeowners don't have any regrets about their buying choices. 

On the contrary, research shows that even the most-satisfied homeowners would change some aspects of their home purchase if given the opportunity.² Some question their decision to move to a neighbourhood they still don't love. Others wish they had been less picky about where they lived so they could have paid less. Many are afraid they overspent or think they sacrificed too much in their rush to buy a home. 

According to a new survey by Mortgage Professionals Canada, nearly 80% of Canadians still see real estate as a favourable long-term investment. But a growing number of Canadians also admit to being more financially stressed in the short-term due to lingering fallout from inflation.³  

Here are some of the most common homebuyer regrets we see, along with my professional advice on how to avoid them.

REGRET #1: Spending More Than Necessary 

No one wants to overpay for their new home purchase (and, luckily, with the right guidance, doing so is avoidable). But even if you've secured a winning purchase price, there are still plenty of ways to accidentally overspend. 

One of the most common ways to overpay? Choose the wrong mortgage. In fact, in today's higher-rate environment, this can be one of the riskiest mistakes a new buyer can make. 

According to another survey by Zolo, for example, 75% of Canadian homebuyers leave money on the table by not bothering to shop around for the best rate.⁴ Depending on your mortgage terms, this mistake alone could cost you tens of thousands...

How to Become a Homeowner on a First-Time Buyer’s Budget

It's not easy being a first-time home buyer right now. At the end of last year, housing affordability hit an all-time low.¹ Additionally, mortgage rates have risen significantly since 2021, while inventory remains tight for many property categories, but especially for starter homes. Even lower-priced condos are harder to snag these days, as investors and downsizers muscle out first-timers by offering stronger, often cash-heavy bids.²

As a result, many first-time home buyers are finding that they need to get creative to afford a home or risk renting for longer than they planned. If you, too, are struggling to afford homeownership, here are some workarounds to consider as you plot your first home purchase.

1. Try House Hacking

“House hacking” is a real estate investment strategy in which participants use their homes to generate income in order to offset their expenditures. 

For example, renting out a basement apartment or accessory dwelling unit (ADU)—such as a detached garage that's been outfitted with a washroom and small kitchen—counts as house hacking. So does splitting housing costs with a roommate or converting a part of your home into an Airbnb.

House hacking isn’t new. But, it’s grown in popularity as a new crop of digital platforms has entered the market and made it easier than ever for homeowners to generate income from their property.

In some cases, house hacking may make it possible for you to qualify for and afford your first home. A lender, for example, may approve you for a larger mortgage if you purchase a home with immediate income potential, such as a legal duplex or a property with a secondary suite that has a kitchen and full washroom.³

In addition, house hacking could help you pay your mortgage once you move in. Here are just a few of the ways you could use your home to earn some extra cash if your neighbourhood or municipality allows it:

• Offer...

Stress-Free Home Cleaning: 27 Practical Tactics for Busy Households

Keeping a clean and orderly home is a challenge for many of us. Between busy work schedules, social obligations, and family commitments, it’s tough to keep up with daily chores—let alone larger seasonal tasks.

The effort is worthwhile, however. A sanitary environment can keep you and your family healthier by minimizing your exposure to germs and allergens.¹ Plus, researchers have found that organized, uncluttered homes have quantifiable mental health benefits, too, including reduced stress, improved emotional regulation, and increased productivity.² 

The reality is, we enjoy our homes more when they are in good order. It’s much easier to relax without piles of unopened mail or a messy kitchen reminding us of work to be done. And don’t we all feel more inclined to entertain family and friends when our homes are well-kept?

That’s why we’ve rounded up our favourite tactics—from overall strategies to little tips and tricks—for keeping things tidy without spending all our spare time cleaning. 

Set a Schedule for Daily and Weekly Cleaning

We’ve all been there—you put off vacuuming or mopping your floor for a few days, only to realize that weeks have passed. Creating a cleaning schedule that works for you is the best way to stay on top of things and avoid overwhelm. Here are a few of our favourite strategies:

1. Designate a day of the week for each task—then, add them to your calendar so you can’t forget. 
2. Create a shared schedule that assigns specific responsibilities to each member of the household. Post it in a prominent place, like on the refrigerator, or create a shared digital calendar.
3. Carve out 15 minutes a day for cleaning and decluttering. Set a timer on your phone and get as much done as you can before it goes off. 

It may take some trial and error to find the tactics that work best for you. The most important...

My Home Didn’t Sell! Now What? 

When it comes to listing your home, most home sellers want three things: 1) to make a lot of money, 2) to put in minimal time and effort, and 3) to sell quickly. But the reality is, selling a home is rarely that simple. And homeowners who try to do it themselves—or receive bad advice—can end up stuck (months later) with a property that hasn’t sold.

If that’s you, don’t panic! I have outlined the top five reasons a home doesn’t sell—and action steps you can take to overcome each of these issues.

Not sure why your property didn’t sell? If you’re not already working with an agent or your listing has expired or been withdrawn, give me a call! We’d be happy to offer a free, no-obligation assessment and create an action plan to get your home SOLD.

This marketing piece is not intended as a solicitation for properties currently in an exclusive agreement with another Broker.

1. BAD TIMING

If your home didn’t sell after several months on the market, timing could’ve been a factor. Markets are driven by the law of supply and demand, and real estate is no exception.

When there are a lot of people who want to buy homes (demand) and a shortage of inventory (supply), it’s considered a seller’s market. During a seller’s market, listings tend to get snapped up quickly. In a buyer’s market, however, there are more homes for sale than active buyers. This can cause homes to sell for less money and to sit on the market for a longer period of time before receiving an offer.

What causes the shift between a seller’s market and a buyer’s market? Economic factors like interest rates, affordability, domestic growth, and the unemployment rate can all impact buyer demand. Over the past year, for example, higher mortgage rates have not only made it harder for some borrowers to qualify for a home loan, they have also sharply pushed up homebuyers' anticipated...

Top 6 Home Design Trends To Watch in 2023

Over the past few years, many of us have spent extra time at home—and that means we appreciate the personal design touches that make a house cozy and comfortable more than ever. Some of us have adapted our dwellings in new ways, from creating functional home offices to upgrading the appliances we use most. 

But while it’s important to make your home your own, it’s also smart to think about the long-term impact your renovations could have on its value. Choosing highly-personalized fixtures and finishes can make it harder for future homebuyers to envision themselves in the space. Even if you don’t plan to sell your home soon, investing in popular design choices that are likely to stand the test of time will make things easier down the road.  

And if you’re in the market for a new home, it’s wise to keep an eye out for features that might need to be updated soon so you can factor renovation costs into your budget.

We’ve rounded up six trends that we think will influence interior design in 2023, as well as ideas for how you might incorporate them in your own home. Remember, before taking action, it’s always wise to consult with a real estate professional to understand how specific updates and upgrades will affect your property’s value in your local market. 

1. Separate Kitchen, Dining and Living Areas

For years, home design has been dominated by open-concept floor plans, particularly for kitchen, dining, and living areas. However, as the pandemic forced families to work and study from home, many struggled to find the privacy and separation they needed. As a result, designers report that more families are choosing to bring back walls to break up the space and create quieter areas.¹

That doesn’t mean that we’re returning to an era of dark and cramped spaces, however. Even as walls make a return, it’s important to take care to retain a sense of flow and...

2023 Real Estate Market Outlook (And What It Means for You)

Last year, one factor drove the real estate market more than any other: rising mortgage rates. 

In March 2022, the Bank of Canada began a series of interest rate hikes in an effort to pump the brakes on inflation.¹ And while some market sectors have been slow to respond, the housing market has reacted accordingly.

Both demand and home prices have softened, as the primary challenge for buyers has shifted from availability to affordability. And although this higher-mortgage rate environment has been a painful adjustment for many Canadians, it should ultimately lead to a more stable and sustainable real estate market.

So what can we expect in 2023? Will mortgage rates continue to climb? Could home prices come crashing down? While no one can forecast the future with certainty, here’s what several industry experts predict will happen to the Canadian housing market in the coming year.

MORTGAGE RATES WILL EVENTUALLY STOP CLIMBING

Over the course of 2022, we saw the benchmark rate rise at a record pace—a whopping 400 basis points in just nine months. Fortunately, there are signs that the central bank’s series of rate hikes may be coming to an end.²

After last month’s half-point rate increase, Bank of Canada officials struck a noncommittal tone about future rate hikes, prompting economists to speculate that the central bank may pause hiking rates by early spring, if not sooner.³

According to Stephen Brown, a senior economist at Capital Economics, the central bank is likely to hike rates at least one more time before it shifts gears. “ “We would not rule out a final 25 basis point interest rate hike in January,” said Brown in a client note. “But the Bank is very close to the end of its tightening cycle.”³

What impact will this have on mortgage rates? Variable mortgage rates could finally stabilize. However, buyers hoping for a big drop later in the...