The idea of conducting a spring cleaning in order to put your house on the market shifts the focus from “livability” to “sellability.” Spring is an ideal time to stage a house. As winter ends and the snow clears, signs spring up in front lawns and buyers  come out in force. Here are some tips and tricks to keep in mind in order to stage your home in preparation for the surge of homebuyers right around the corner. Plan First Before you pick up a paintbrush or hammer, make sure to take the time to plan your course of action. For example, it can be wise to set a budget so that your repair costs d ..read more

On Wednesday, the provincial government added further legislation to Bill 16, with the aim of protecting vulnerable tenants. TL;DR: Additions to the bill include shorter waiting times for rental disputes, renovation funds, and mandatory, standardized inspection training. Bill 16 is the biggest reform in the history of Quebec’s rental board (Régie du Logement). It will replace the current rental board with a new administrative housing tribunal with more staff to oversee dispute hearings. The aim is to reduce the average delay for a rental dispute hearing from 16 months to 2 months. The bill ..read more

There are numerous reasons why homeowners are seeking out a small spaces during their hunt for a new home. Perhaps they are empty nesters looking to downsize, or maybe they’re a young couple embracing an urban lifestyle. Here are some tips for moving from a large home to a smaller one: Embrace the Concept of Minimalism From tiny houses to shared community-based living spaces and #KonMari, the concept of minimalism is seemingly everywhere these days. Without a doubt, minimalism will be of the biggest players in the future of home design trends. In response to rising rents and stagnant wages a ..read more

Acquiring a home can be a challenge for young buyers, with high closing costs and legal complexities to navigate. Fortunately, Montreal offers a range incentive programs that first time buyers can apply for, to ease the financial burden of homeownership. 1. Home Buyer’s Plan The most well known incentive program is the HBP, or Home Buyer’s Plan.  The HBP is offered by the federal government and enables buyers to tap into their RRSP’s for up to $25,000. The loan is non-taxable, and borrowers have 15 years to reimburse the full withdrawal back into their retirement plan. Young buyers who don’t h ..read more

CAP rate is an important metric to consider before buying any investment property. It measures the rate of return on a revenue property, based on current income and market value. Capitalization Rate (Cap rate) = Net Operating Income (NOI) / Current Market Value Net operating income (NOI) measures the net income on the property after all operating costs have been accounted for, and the current market value of the property is calculated using a compartive Market Analysis (CMA). Let’s take a look at average CAP rates in Montreal: According to Cushman & Wakefield‘s latest CAP rate report (Q2 ..read more

In the past two years, Montreal has shifted from a buyer’s market to a seller’s market across all property categories. With more buyers competing for fewer homes, homeowners are more likely to see high appreciation rates, bidding wars, and offers over the asking price. Generally speaking, homes sell much faster when market conditions favour sellers. With the right strategy, sellers can take full advantage of the heated market and sell their home at the best price possible. Unique listings, such as older but well maintained single family homes, will stand a better chance of generating a biddin ..read more

Is home buying on your to-do list for 2019? Montreal’s real estate market currently favors sellers – which means that home buyers will need to take extra steps to save money and time during their purchase. Here are some resolutions that will guide you on your journey to homeownership: Resolution #1: Improve your credit rating  The lower your credit score, the higher your offered interest rate will be. Lending fees and terms are directly related to your credit rating – a good credit score will indicate a trustworthy borrower and will be favored by banks and other lending institutions. There are ..read more

Is selling your home on your to-do list this year? Preparing a property for sale can be a lengthy process, but setting goals can help you tackle each step in a timely matter. Here are five New Year’s resolutions that will help get you on track to receiving an accepted offer: Resolution #1: Renovate only where it matters If you’re planning on selling an older home, you may well be considering some minor improvements to make your property more appealing to prospective buyers. It can be difficult to determine which renovations are actually worth the while in terms of increasing your home’s value ..read more