You know the old saying that if something seems too good to be true it probably is? Well, the same principle kind of applies when it comes to condo fees.

There are no quick fixes or mystical remedies that will magically help you reduce your condo fees. That said, there are measures you can take that may help in the medium and long run. Your persistence and stick-to-itiveness will be put to the test and may eventually pay off. But know this: while you can put certain measures in place that may relieve the burden of mounting condo fees, the chances of reducing or rolling them back is pretty much slim to none.

So what is a condo owner to do? Here are a few suggestions:

Toronto, Ontario, Canada

Get involved

To ensure reasonable condo fees, you may want to have a say in how your condo is operating. Do you prefer the notion of building a reserve fund for those emergency repairs that are sure to one day happen? Or are you more comfortable keeping fees lower and only raising them under duress? By joining the condo board and attending meetings you will learn why your condo fees are what they are. Only once you see where your fees are going can you actually make some headway about changing direction. Do you think your condo corporation is being over charged for certain services? Being a member of the condo board means your voice will be heard.

Do your homework

It’s easy to get sucked in by the dulcet tones of salespeople who flaunt fabulous party rooms, fun-filled hot tubs and a fitness centre? But know that these amenities come at a cost. According to the National Bank, the average condo fee in the GTA averages 65 cents a square foot. On a 600 square foot condo that would be $390 per month and for a 1,000 square foot unit, your condo fee would hit $650.

It’s also a good idea to investigate condo fee increases at other buildings by the same developer. Fees undoubtedly vary based on the building’s location, amenities, age and the size of the units so comparisons are sometimes difficult to ascertain. By scrutinizing the developer’s history you will determine if the builder has earned a positive or negative reputation when it comes to managing condo fees and the like.

 Reserve fund

You need to find out about the health of the reserve fund of the condo you’re interested in. Is there a good chunk of savings for major work or an emergency repair or has the well run dry? Find out what major work has taken place and what is slated to take place in the future. A well-run condo corporation should be able to provide this information.

Sources: www.torontostar.com, www.ideas.nationalbank.ca

November may seem like a kind of nothing month when it comes to tending to your lawn, gardens and flower beds. It’s time to hunker down for a frosty Canadian winter so why not put off worrying about the great outdoors until the arrival of warmer temperatures next spring?

That simply won’t work. Even though the signs of winter are everywhere there are a few finishing touches we need to tend to in order to keep our properties if not looking great, at least presentable.

Lawns

They take up our biggest outdoor space and also a lot of time, money and effort to maintain. Don’t neglect them now. It’s a good idea to fertilize your lawn in November. Try an organic fertilizer or consider making your own. Using synthetic fertilizers has detrimental effects on our environment, causing the depletion of soil nutrients, air pollution and chemical run-off.

You’ll need to cut your grass one last time this month before the snow flies. Clip at its normal height but be sure to remove all grass clippings with a rake or use a mulching mower. It’s also okay to rake the clippings onto flower beds.

If you’re feeling super handy-dandy you may want to service your lawn mower by cleaning, sharpening and oiling its blades. While you’re at it, change the oil and empty the machine of all gas before storing it away.

Protection

Wind, sun and cold can wreak havoc on certain evergreens and new plants. Wrap them in burlap to protect them from the elements. Also consider wrapping screening around the trunks of fruit trees to protect them from small animals. Most rose bushes require mulch so be sure to cover them with a good layer of leaves or other mulch product.

Fallen leaves

You’ll save money if you use your leaves as mulch for your flower beds or as material with which to build your compost.

Water

Don’t forget to give your evergreens a good strong soaking before winter snowfalls. According to Mark Cullen, wet roots mean evergreens will winter better. It’s not a bad idea to continue watering trees and shrubs until it freezes also. And remember to turn off your outdoor water faucets and drain and store your garden hoses.

Dream

As you put the final touches on your lawn and garden for the year, think about your likes and dislikes. Begin formulating a plan for next spring. What will you move? What will you get rid of? And, most notably, what would like to add?

Sources: www.greenhome.com, www.torontostar.com,

Next to January and February, November might just be one of the year’s most hated months.

Its drab and rainy weather does little to endear us, as does its call to winter with cooler temperatures, unwelcome snow and dreaded ice. There aren’t even any terrific holidays this month to buoy us out of our seasonal-related misery. And for some of us, it’s a time to start stressing about the coming holiday season and all the excessive consumption that entails.

But November is not all doom and gloom. When it comes to real estate, in fact, it may be one of the best months to sell your house. Here’s why:

Quick sale

If you’re looking for a transaction that is fast November is a good time to list your property. People who are looking now are likely more serious and motivated. As a result, they tend to have more urgency so a quick sale that can get you out of your current home before, say, Christmas might just be possible. Know this: if buyers are trudging through snow, ice and generally crummy weather conditions, they mean business.

You’re an introvert

You don’t really like people very much so the prospect of having hundreds of potential buyers traipsing through your door is enough to send you over the edge. Selling your home in November definitely means you’ll have to contend with strangers but the numbers will be far less than in the spring market.

Less competition

Real estate inventory shrinks from about November to January and while that sounds like an unlikely scenario for successful sales, just the opposite is true. You may be even more so in the driver’s seat as a seller with less competition during this time. In fact, sellers might find they can get prices they could not command previously.

Seasonal splendour

Not everyone hates fall and winter. Each of those seasons showcases a unique and remarkable beauty unto its own. Don’t let cooler temps or drizzle get you down. As a seller, play up the loveliness of fall and winter. Adorn your front door with a seasonal wreath or favourite decoration. Let your garden spotlight the charm of the season with fall and winter blossoms and the changing colour and shapes of foliage. Your efforts will be appreciated.

Sources: www.time.com, www.ctvnews.ca,

If you’re a millennial hoping to build your life and grow a family within the city, you will likely know that Toronto’s condo boom is also in short supply of family friendly units.

While developers have spent the past decade or so building smaller condo units with single folks or investors in mind, a 2017 housing report by Ryerson University and Urbanation points out that developers and city planners need to look at the changing demographic landscape to help guide the housing development of tomorrow. The report notes that as millennials mature and begin to raise families and as baby boomers age and decide to move out of their homes and into condos, the city will require more family-oriented housing units for these groups.

Yet condos are getting taller and smaller overall. Proportionately speaking, developers are building fewer two-bedroom condo units than ever before. The size of so-called family units is shrinking when compared with, say, a three-bedroom condo from a decade or two ago. Many condos buildings are towers, and as such, considered unliveable by some. At the same time, affordability has also taken a hit. For example, in 2007, the price gap between a detached house and average condo was $205,000. In 2017, the difference jumped to over $600,000.

The report titled Bedrooms in the Sky calls for a shift in how developers meet the housing needs of the future and the so-called “missing middle” housing options that fall somewhere in between a detached home and small condo apartments.

Toronto, Ontario, Canada

“This missing middle includes low-rise walk-ups and stacked townhouses that can infill low-density neighbourhoods predominated by single-family homes,” says the report. “Mid-rise buildings can also help bridge the gap between detached houses and small apartment units. Mid-rise buildings tend to include larger units and can be more attractive to families than high-rise buildings due to their moderate scale and better integration into existing communities.”

At the time of the report’s release in November, 2017, just three per cent of condos slated for development in the GTA were in buildings under five storeys and only seven per cent were for five to eight storeys.

Buildings under six storeys can be built using wood-frame construction, a feature offering developers greater flexibility, according to the report.

Building bedrooms in the sky for growing families may be the way of the future for those who want to own property in the GTA. In order for families to stay put, developers need to make condos that are spacious and family friendly. That requires political will and the recognition that if condo prices continue to climb, good families will be forced to relocate outside the city.

Don’t let the naysayers bring you down. There are still numerous ways in which to invest in real estate in the GTA.

Investments come with certain rewards and risks so it’s important to go in with your eyes wide open. How risky, how accessible and how difficult or easy depends on your resources and your tolerance level.

Given the city’s escalating real estate prices, making a quick buck in the market is not as easy as it once was. But that doesn’t mean earning a profit on your holdings is a product of a bygone era. You likely need to be in it for the long haul.

An ideal scenario would give investors a positive cash flow in which your investment property spikes in value and your dream tenants never squawk about helping you pay off the mortgage. In today’s market that would be the stuff of dreams, however. Investors in Toronto are lucky to break even on their outlay. Your cash flow, which is the amount you keep after collecting rent and paying the expenses on your property, may see you recover your costs. But if you’re looking to fund your kid’s university education or a vacation home this may not be for you.

Let’s look at the types of investments that might be right for you:

Income Property

These are typically detached and semi-detached homes that have been converted into apartments. Houses in the city typically grow in value greater and faster than do condos so that’s an argument in their favour. You should be able to at least balance your expenses against your income and – who knows? – maybe realize a positive cash flow. Of course, know that you will have all the headaches that come with renting out a space, too.

Condos

These investments are hot, hot, hot right now. But condo investing likely means a more long-term proposition. Thanks to the city’s very low vacancy rate, landlords have the upper hand and can pick and choose from a list of preferred tenants. The maintenance and all-round work of keeping a condo in good repair is significantly less than with a freehold house. Their appreciation levels over time are also respectable.

Commercial Property 

These are often also known as mixed use properties as they have a mix of retail, office and apartment space. A big reason to invest in these properties centres on earnings, which are generally higher than that of residential buildings. Other bonuses include the pride retail and commercial business operators take in their businesses. The leases you negotiate with commercial tenants can be attractive, too, as the onus is often on the tenant, and not the landlord, to pay the expenses associated with the space. On the down side, there is more work involved with managing a commercial property, you will likely need more upfront funds for your investment than with a residential property and there is a higher liability risk as more people will be accessing the property due to its commercial focus.

Young families hamstrung by the lack of affordability within the city’s freehold housing market are looking to condos to raise their children in more affordable living spaces.

For the estimated 13 per cent of Toronto families that often means family-sized or three-bedroom condos. But good luck finding them. Many of today’s newer condos comprise some pretty un-family friendly traits: high carrying costs, meagre layouts and small quarters. As a result, these units end up being rented by students or young professionals who share the costs with their roommates.

According to Bedrooms in the Sky, a 2017 report by Ryerson University and Urbanation, Toronto may be experiencing a condo boom but it is not building enough family-friendly condos to meet demand. Even though condo construction is geared toward one-bedroom units, developers are building fewer two-bedroom units proportionately than ever before. Urbanation, a high-rise condo development tracking consultancy, says only 38 per cent of condos in development in November 2017 were two bedrooms and larger.

That condo developments are enjoying a boom period is without question. Census data shows that 129,000 of Toronto’s families lived in condos in 2016, up 8.9 per cent from 118,000 in 2011, and well above the national average of 8.4 per cent.

But Toronto doesn’t lay claim to the highest number of condo dwellers. In Vancouver more than 30 per cent of the population lives in condos, this, according to the CBC, is far and away the highest percentage in the country. In Calgary, nearly 22 per cent of residents call condos home, followed by Abbotsford-Mission, Kelowna and Toronto, all of which have more than one out of every five households living in a condominium.

The problem, many say, comes down to simple economics. Large, family-sized condos aren’t favoured by developers because it’s difficult to keep them reasonably priced. They also earn more per square foot on smaller condo units.

The report by Ryerson and Urbanation states that there may be some hope for family-friendly condo units of 3+ bedrooms as they are trending upwards, however, these dwellings generally have a resale price of more than $900,000, making them far from affordable.

Toronto, Ontario, Canada

The report’s authors warn that if these construction trends continue, the number of family-friendly housing units available in neighbourhoods close to transit, school and other services will continue to decrease, likely along with affordability.

When the days are at their longest, warmest and most sun-drenched, we often feel like taking it easy.

This is the time to sit on the verandah with a tall glass of ice tea, or maybe it’s a good time to putter around your yard, extracting the odd weed and deciding what perennials need to be divided. The heat seems to slow us down a notch and force us to focus on the minutiae of life. If you’re a proponent of meditation, gurus might say it’s an ideal time to live in the moment.

Unfortunately, living in the now is not how most of us buy and sell houses. And while many think summer is a time for chilling, the commerce of everyday life often gets in the way. If you’re thinking of holding off the sale or purchase of a home until the fall, you may want to think again.

Did you know that estimates peg home sales during summer at somewhere between 30 and 40 per cent?  There are a number of reasons for this. The fact that these reasons all converge in summer is likely why. Let’s take a look:

Mild Weather

Say what you will about the weather but it’s a big factor in how we behave. Warm temperatures generally mean we’re out and about much more, possibly taking holidays or just enjoying the heat from our back patio.

If you’re taking vacation during the summer months, this gives you more time to house hunt or to get your home ready for the real estate market. If your windows need washing and your hallway could use a fresh coat of paint, now is the time to do it. If you can’t take holidays during June, July or August, you can at least take advantage of the long weekends summer offers to get some of these chores out of the way.

Boost curb appeal

Houses and neighbourhoods, in general, look most attractive in summer. Blossoms are in full bloom, trees are lush and full and lawns are green. Make sure you keep shrubs and bushes trimmed, weeds at bay and your windows washed. You might want to place some inviting furniture on your porch or a decorative wreath on your front door. This makes potential buyers feel more welcome and at ease.

Ideal time for moving 

For families with school-age children, summertime is the easiest and most convenient time to move. But it may also be a good time to hunt for a house or to sell one.  While children aren’t the main decision makers in a household, their opinions do count so it stands to reason that they should attend showings and open houses. On the flip side, if selling your house in summer, perhaps your kids can help you get your house ready for showings? Give them age-appropriate jobs like sweeping the walkway or straightening the pillows on the sofa. Remember details count and children can appreciate the finer points.

There are a million considerations to mull over before deciding to buy a condo. One you should not neglect centres on your furry and feathered friends and how warmly they’ll be welcomed, if at all, in your new digs.

Not all condominium corporations love domesticated animals equally. So if bringing your four-legged friend or pet turtle with you is a priority that is definitely something you need to discuss with your realtor, who should be able to advise you. If they can’t or won’t, it’s time to get a new agent.

At Freeman Real Estate, where we encourage staff to bring their pets to work, we’ve even dedicated part of our website to finding the perfect pet-friendly Toronto Condo. We know the public loves their pets and will go to great lengths to accommodate them. In fact, a CBC.ca report from 2017 cited a city estimate that there are between four to eight pets living on every high-rise floor in the city.

Toronto, Ontario, Canada

The thing to know is that every condo building varies in its rules about pets with some banning them altogether. In order to get the low-down on a particular building you need something called a condo status certificate which outlines the dos and don’ts of your condo. Your real-estate agent may already have copies of the certificates but if not you can get them for a small fee.

So what kind of regulations do condo boards typically have? They vary and cover a wide assortment of items. More common restrictions include rules about leashing pets and ensuring that they are registered and guidelines as to how many pets you can have in your unit and what size and weight your pets can be. There are even some that govern the type of pet so goats or chickens are forbidden because they would be deemed to be livestock.

If you’re something of a rebel and you think the condo board members will fall in love with your 90-kilo English Mastiff and disregard their weight restrictions, think again. Unless you can prove that your pet is with you for medical reasons (as recognized by the Human Rights Code), you may be in for a bitter and pricey fight. In 2015, The Toronto Star reported on a case that ended when the dog was ordered to be removed from the condo. The judge awarded $47,000 in court costs to the condo corporation “which can be collected by way of a lien” against the condo unit in question. The legal costs incurred by the condo dwellers could have easily doubled their bill, the story reported. They argued that their dog, Peaches, should be permitted despite weighing 15 pounds more than what the bylaws allowed.

It just goes to show you that it’s important to be mindful of the rules. Besides there are plenty of GTA condos that are very pet friendly, offering a host of amenities such as nearby parks, pet-washing stations and pet spas.

Sources: www.torontostar.ca, www.zoocasa.com, www.cbc.ca

It’s for good reason that Toronto is known as the City of Neighbourhoods with some of those many communities dating as far back as 200 years. Given that lineage, it’s safe to assume that lead-based paint could be in your home.

If your house was built prior to 1960 chances are pretty good that lead-based paint was used. Homes constructed between 1960 and 1990 may have lead in the exterior paint, though paint used inside could still contain some smaller amounts of lead. Residences built after 1990 should not have any lead in their paint as North American manufacturers were producing lead-free paint by then.

The danger with lead paints is highest among children because they absorb it more easily and because they are still developing.  According to the federal government, even small amounts of dust with lead are dangerous to babies and children. Unborn infants could also be at risk if a pregnant mother-to-be consumes lead. Lead poisoning causes anemia in addition to brain and nervous system damage. A simple blood test is how you determine your level of exposure.

There are ways to detect if lead-based paint was used in your home. Having paint chip samples analyzed at a lab is a possibility as is hiring a contractor who has the appropriate x-ray equipment to detect lead on painted surfaces.

The federal government recommends taking action if your lead paint is chipping, flaking or within reach of children who might ingest it. But it also stipulates that sometimes it’s best to leave well enough alone when it comes to lead paint, as long as the safety of children is not compromised. As an added protection home owners can cover lead-based painted areas with wallpaper, wallboard or panelling.

If you plan to do the work yourself, know that it’s a tall order. Remove all furnishings, rugs and window coverings on which lead dust might cling. If you can’t remove a belonging or furnishings make sure they are covered in plastic. Cover your heating and cooling vents and doorways as you want to prevent scrapings and paint particles from travelling throughout your house. Open your windows. To trap the dust and keep yourself protected you will need tarps, a respirator, protective eye coverings and gloves.

It’s a good idea to take frequent breaks, every ten minutes or so. Exit the work area immediately if you begin to feel dizzy, sick or have trouble breathing.

Use a chemical paint stripper paste and apply it with a brush. You want to avoid sanders, heat guns or blowlamps as they create toxic dust and fumes.

Then again, you may decide to hire a lead abatement company to get the job done. You’ll find them online. Be sure to check references.

Just because your house in covered in snow and ice doesn’t mean you need to wait for spring to put it on the market.

In fact, some real estate experts believe the December-through-March months actually pay off when selling your home because at least one study by an online brokerage firm suggests that’s when sellers net more above asking and that’s also when houses move more quickly. The reason? Buyers trudging through frost and snow piled knee-high are motivated. They are looking at houses during the deep freeze because they have to. It’s as simple as that.

With fewer homes on the market in winter, your house could become a hot commodity, particularly if it’s in a desirable neighbourhood or if it has good bones and features today’s home buyers want.

Another big advantage to selling in winter is that the outdoor maintenance on your house is much reduced. With the exception of shoveling snow and keeping walkways clear and slip-free, you save time on the grass cutting and weed pulling typically done in spring and summer.

Be sure to keep pathways, stairs and driveways clear of snow and ice. Nothing is more off putting to a potential buyer than having to slip, slide and slog through ice and snow. If need be, make sure you scrape up the ice especially in areas where potential buyers might walk. Be sure to clear a path in snow banks and snow drifts that form due to shoveling and plowing. So whether they’re parking on your driveway or on the street try to clear an area so they can step out of their vehicle easily. You don’t want to annoy house hunters by forcing them to climb over a three-foot mound of snow.

It’s a good idea to warm up your home during viewings. While setting your thermostat above 20 degrees C might seem wasteful and not the most eco-friendly thing to do, keeping your space a degree or two warmer than usual is good practice for showings as buyers will enjoy the warmth and coziness of your home. If you have a fireplace, light it. That adds warmth and ambiance. Just be sure not to leave a wood fireplace unattended for too long.

Winter buyers will be especially on the watch for issues relating to heating so it’s a good idea to have your furnace and HVAC inspected. Be sure to change air filters and weather strip windows and doors. As heating costs will be on their minds, don’t leave signs around that your house is cold and drafty. For example, hide those piles of heavy blankets in your living room and tuck away that draft stopper you keep at the foot of your door.

Add a pop of colour to your home to compensate for the dull, gray days of winter. A seasonal wreath on your door or topiaries at your entrance can lend some excitement. Also ensure your windows are clean as the disappearance of summer foliage means your home is put under the glare of winter sunlight which shows every mark, fingerprint and scuff.

Sources: www.time.com, www.thebalance.com, www.realtor.com