Starting from Scratch

 

Knocking down an old home to build another can prove a rewarding move. But, it requires careful consideration.

While renovating or moving home may be more traditional methods of solving a housing issue, knock-down-rebuild projects are becoming an increasingly popular housing strategy.

 Why knock down and rebuild?
There are a number of reasons to consider a knock-down-rebuild project. The chief reason for knocking down a home is because it’s beyond repair. As a general rule of thumb, the more work that needs to be done to a property, the more value a rebuild will offer. When it comes to especially old houses, a rebuild is often the most cost-effective solution.

In established inner city metropolitan areas where land is increasingly in short supply, rebuilding is also sometimes the only way to get into a neighborhood or stay in one.

Many people also consider a knock-down rebuild when a home is no longer suitable for their lifestyle but they don’t want to change location. Many of us have a strong affinity with our local community – be it the shops, schools or our neighbours – and a rebuilding project means this need not be disturbed.

And finally, people are often attracted to rebuilding because it can be much less stressful than renovating. We’ve all known friends who have spent months living without kitchens or bathrooms; a rebuild can be a much more hassle-free solution.

Rebuilding and financing
The real financial benefit of a knockdown rebuild is the fact that there are no hidden costs.

Renovations are notoriously difficult to budget for, with unexpected hurdles likely to bring up countless additional expenses. Because of this, finance can be difficult to arrange compared to a rebuild, which is straightforward.

Of course, building a new home doesn’t come cheap either, so it’s important to seek professional building advice as well as a range of quotes to determine what will be the most cost-effective solution for you.

Important points to consider

• Don’t forget that you may be eligible for new home incentives from the government if you decide to rebuild rather than renovate.
• Be sure not to overcapitalise – a new home always involves unexpected expenses.
• If you’re knocking down your existing home, you’re going to have to pay for rent during that time or find somewhere to live. So factor in possible extra costs.
• City approval for rebuilding can be difficult, time-consuming, and expensive. But remember, carrying out any work without approval is illegal, so don’t be tempted to try to slide under the radar.

The Path to Real Estate Investment Success

 Residential property can be a great investment selection, but you need to buy well to secure the best return.

Property is widely considered a great investment and a powerful wealth creation strategy. But as with anything in life, there are no guarantees.

Yet if you back yourself with the power of knowledge and employ the right investment strategy, there is no reason why property investment can’t be a powerful wealth creation strategy for you and your family.

If real estate investment is on the horizon for you, try to keep the following tips in mind, and you’ll be well on track to securing yourself a great investment.

Know your limits
Overstretching your budget is a sure-fire way to cripple your chances of doing well in the property market.

Whether you are a seasoned investor or new to the market, there is nothing more important than determining your budget and understanding how much you can afford to borrow.

A mortgage broker can work with you to assess your borrowing capacity and ensure you embark on an investment strategy that fits your budget. With pre-approved finance, you’ll also be ready to strike when the right property comes along.

Location, location, location
When investing in property, the location of your potential purchase should always be at the front of your mind.

Be sure to consider areas that are backed by strong population growth, employment opportunities, development prospects, and solid infrastructure projects.

A great idea is to take a drive around any areas you’re interested in and note all local schools, transport hubs, and shopping centers.
 
A property that is in proximity to such key amenities is usually in higher demand for both tenants and future buyers, which should maximize your prospects of achieving solid capital growth and stable rental income.

Understand the tenant
The location and type of property you purchase will be a strong motivating factor in the type of tenant you are likely to attract.

If you are seeking a long tenancy agreement with a family, it may be wise to consider areas that support such a demographic.

Once again, consider a safe area surrounded by a range of schools and shopping centers to support the needs of your target market.

While there are no guarantees with any investment strategy, understanding these three essential aspects of successful property investment should get you closer to ensuring good returns on your next purchase.

Build a Greenhouse for Early Spring Planting

With spring just around the corner, many homeowners have gardening on their minds. The seed catalogues are well worn from repeated flipping of pages. Seeds have been ordered, and some early bedding plants have been started. Many of us are itching to get outside and start seeding the garden, but it is too early. The days are warming, but the nights remain too cold to allow seedlings to survive.

One way out of this dilemma is to build your own portable greenhouse. A simple greenhouse can consist of some wooden frames that are bolted together and assembled in the garden. The greenhouse can be easily dismantled and folded flat for storage. It can be built to any size specifications, depending on your needs. Many Home Depot stores sell some preassembled DIY kits that can be put together easily in one afternoon at very reasonable prices.

The floorless greenhouse allows light and heat to enter but prevents some of the heat from escaping. Thus, the temperature inside the greenhouse increases during the day. The soil over which the greenhouse is placed stores some of this heat. During the night, when the outside temperature is cold, the heat gradually escapes from the soil, but the greenhouse holds enough of this heat to prevent frost from damaging the plants inside.

The system works well if the air temperature is not too cold, though additional frost protection can be achieved by using internal and external curtains.

The greenhouse can be set over the garden area in the early spring (March). For best results, the garden should be located in an area that receives full sunlight. As the air temperature builds up inside, any snow covering will melt, and the ground will begin to warm. By mid to late March, it is often possible to seed directly into the soil "floor" of the greenhouse. Only plants that tolerate a cool growing season can be seeded early. Warm-season crops such as require much more warmth that this greenhouse can provide.

As the days become warmer, too much heat may build up inside the greenhouse. It is very important not to let this happen, or you might lose your crop. The simplest solution is to leave the greenhouse door partly open to provide ventilation. When the days become quite hot, remove the greenhouse. In September, it can be taken out again and placed over the garden patch to extend the growing season.

How Staging Can Help Sell Your Home

When selling your home, it is essential to present it in such a way that showcases its best features and minimizes or rectifies problem areas. Many surveys have proven the importance of home staging as a powerful real estate marketing tool that helps sell your home faster and for top dollar.

What is staging?
Home staging is a marketing tool that involves dressing up your home to be presented for sale in its best possible state. It is about merchandising your property.

Professional home stagers work with the traffic flow of a home, eliminate or reduce clutter, rearrange the furniture, add decorative accessories, and create the illusion of space to enhance the best features of your home and minimize or rectify problem areas.

Another often overlooked but equally important part of the staging process is addressing the exterior of the property. Oftentimes, a prospective buyer forms their opinion about a property based on curb appeal. A property's exterior is very important, and for this reason, stagers will also make recommendations based on the property's landscaping, driveway, and exterior look.

Good staging considers the style of the home and ensures that the staging is done with moderate taste to appeal to a wide range of people. When done properly, your house can make a memorable first impression on potential homebuyers. Staging can be accomplished with a minimal amount of time, money, and effort.

How Much Does Staging Cost?
Usually, home stagers will work within the seller's budget, with an average cost of $1,000 to $4,000. This is dependent on the home's requirements and the amount the seller can afford to spend.

The initial investment starts with a consultation, lasting one to two hours. During this time, your home will be closely examined with the critical eye of a potential buyer. The home stager will then provide you with a list of recommendations. You may do all of the work yourself, hire out some of it, or perhaps leave the entire process to the staging professional.

Market Advantage
As a seller, two considerations are of most importance: time (how long it takes to sell the home) and money (how much money the home sells for).

Staging provides advantages on both fronts. Many surveys have proven, quite powerfully, that there are many benefits to staging. Indeed, one of the most important benefits of staging is that it can allow sellers to obtain top dollar for their property. Oftentimes, the seller will obtain a 200% to 300% return on their investment in staging.

• A staged home shows better than competing homes on the market.
• Staged homes sell for more money than unstaged homes.
• A staged home sells faster than an unstaged home.
• The listing of a staged home looks superior in print advertising and appeals to more people.
• Realtors recognize staged homes as the best properties to show their clients.

It's Never Too Late To Stage...
If your house is already on the market, you may feel that you are reading this too late in the game. Rest assured, this is not true. While it's ideal to have your home staged before it's listed, the benefits of staging can also be achieved after it's been sitting on the market for a while.

If your home is currently sitting with no reasonable offers, and it's not overpriced, you should consider having it staged. Once the staging work is completed, your real estate agent can simply change the marketing plan. Instead of advertising it as "reduced", it can now be advertised as "recently staged", which is actually much less costly than a price reduction as well as the obvious benefit of generating a new interest in your property.

There is no question that staging plays an important role in today's real estate market. Consult your realtor to assess the viability of staging your home.

Waterloo Region Home Sales Cool in March as Inventory Reaches Nine-Year High

 WATERLOO REGION, ON (April 2, 2025) —In March, a total of 459 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 23.1 per cent decrease compared to the same period last year and a decline of 45.2 per cent compared to the average number of homes sold in the previous ten years for the same month. 

“March’s housing market shows a significant shift from last year’s dynamics, with sales activity cooling while inventory levels have reached their highest point for March since 2015,” notes Christal Moura, spokesperson for the Waterloo Region market. “This changing landscape is providing buyers with more options and time to make informed decisions.” 

Total residential sales in March included 259 detached homes (down 24.7 per cent from March 2024), and 98 townhouses (down 24.0 per cent). Sales also included 60 condominium units (down 29.4 per cent) and 40 semi-detached homes (up 8.1 per cent).  

In March, the average sale price for all residential properties in Waterloo Region was $771,915. This represents a 4.4 per cent decrease compared to March 2024 and a 0.5 per cent increase compared to February 2025.  

• The average price of a detached home was $921,985. This represents a 3.6 per cent decrease from March 2024 and an increase of 2.3 per cent compared to February 2025.  

• The average sale price for a townhouse was $622,231. This represents a 6.6 per cent decrease from March 2024 and an increase of 1.2 per cent compared to February 2025.  

• The average sale price for an apartment-style condominium was $457,925. This represents a 5.5 per cent decrease from March 2024 and an increase of 4.8 per cent compared to February 2025.  

• The average sale price for a semi was $663,145.  This represents a decrease of 2.5 per cent compared to March 2024 and a decrease of 1.1 per cent compared to February 2025. 

CORNERSTONE cautions that average sale price information can help establish long-term trends but does not indicate specific properties have increased or decreased in value. The MLS® Home Price Index (HPI) provides the best way to gauge price trends because averages are strongly distorted by changes in the mix of sales activity from one month to the next.

“While both average prices and the HPI declined on a year

-over-year basis, we’re seeing month-over-month price stability in most housing categories. The increased inventory, now at a 3.2-month supply, is creating a more balanced market environment compared to the tight conditions we’ve experienced in recent years,” said Moura. “This shift is particularly evident in the condominium segment, where we now have nearly seven months of inventory available.” 

There were 1,180 new listings added to the MLS® System in Waterloo Region last month, an increase of 15.5 per cent compared to March last year and a 2.4 per cent decrease compared to the previous ten-year average for March.  

The total number of homes available for sale in active status at the end of March was 1,700, an increase of 58.4 per cent compared to March of last year and 72.9 per cent above the previous ten-year average of 983 listings for March. 

The total inventory across the market increased by 68.4 percent, resulting in a 3.2-month supply of all property types by the end of March. Condominium apartments had the highest inventory, with 6.9 months’ supply, followed by townhouses with 4.2 months’ supply and detached homes with 2.3 months’ supply. The number of months of inventory represents the time it would take to sell all current inventories at the current sales rate. 

The average time to sell a home in March was 28 days, compared to 24 days in the previous month. In March 2024, it took 19 days for a home to sell, and the five-year average was 14 days. 

Cornerstone emphasizes the importance of consulting a local REALTOR® when considering buying or selling property in the Waterloo Region. Their expertise can provide valuable insights into the current market conditions, enabling individuals to make well-informed decisions aligned with their goals and preferences. 

View our HPI tool here to learn more: https://www.cornerstone.inc/stats/ 

New Home Listings Rise and Sales Decline

 

WATERLOO REGION, ON (March 5, 2025) – In February, a total of 363 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 26.1 per cent decrease compared to the same period last year and a decline of 38.8 per cent compared to the average number of homes sold in the previous ten years for the same month.

“While February’s home sales were affected by concerns over tariffs and their potential impact on employment, the market showed some encouraging signs. We saw a steady increase in new listings while prices remained stable,” notes Christal Moura, spokesperson for the Waterloo Region market. “The month’s significant snowfall created practical challenges for buyers and sellers, affecting property viewings and transactions. However, I am seeing positive indicators in the market, with consistent attendance at open houses, pre-listing appointments, steady mortgage pre-approvals, and buyers on the sidelines carefully watching for the right opportunity to make their move.”

Total residential sales in February included 221 detached homes (down 21.9 per cent from February 2024), and 71 townhouses (down 36.0 per cent). Sales also included 47 condominium units (down 35.6 per cent) and 23 semi-detached homes (down 4.2 per cent).

In February, the average sale price for all residential properties in Waterloo Region was $767,800. This represents a 1.3 per cent increase compared to February 2024 and a 1.8 per cent increase compared to January 2025.

• The average price of a detached home was $900,003. This represents a 1.0 per cent increase from February 2024 and an increase of 2.1 per cent compared to January 2025.
• The average sale price for a townhouse was $613,924. This represents a 2.7 per cent decrease from February 2024 and a decrease of 2.6 per cent compared to January 2025.
• The average sale price for an apartment-style condominium was $437,000. This represents a 5.8 per cent decrease from February 2024 and a decrease of 7.2 per cent compared to January 2025.
• The average sale price for a semi was $670,352. This represents a decrease of 0.5 per cent compared to February 2024 and an increase of 6.6 per cent compared to January 2025.

“As we navigate these shifting dynamics in the Waterloo Region housing market, it’s important to remember that while sales may be down, the increase in inventory reflects growing opportunities for buyers,” said Moura.

There were 858 new listings added to the MLS® System in Waterloo Region last month, an increase of 7.3 per cent compared to February last year and a 0.8 per cent increase compared to the previous ten-year average for February.

The total number of homes available for sale in active status at the end of February was 1,450, an increase of 55.7 per cent compared to February of last year and 68.7 per cent above the previous ten-year average of 860 listings for February.

The total inventory across the market increased by 52.9 percent, resulting in a 2.6-month supply of all property types by the end of February. Condominium apartments had the highest inventory, with 5.9 months’ supply, followed by townhouses with 3.6 months’ supply and detached homes with 1.8 months’ supply. The number of months of inventory represents the time it would take to sell off current inventories at the current sales rate.

The average time to sell a home in February was 24 days, compared to 34 days in the previous month. Likewise, in February 2024, it took 24 days for a home to sell, and the five-year average was 15 days.

Cornerstone emphasizes the importance of consulting a local REALTOR® when considering buying or selling property in the Waterloo Region. Their expertise can provide valuable insights into the current market conditions, enabling individuals to make well-informed decisions aligned with their goals and preferences.

View our HPI tool here to learn more: https://www.cornerstone.inc/stats/

The Benefit of On-Demand Tankless Water Heater?

 Before you fall in love with a home, you should ensure that you qualify for a mortgage so you have the peace of mind of knowing that your financing has been arranged.

Getting pre-approved for a mortgage should be the first step in your home search process. Not only will this help you determine how much money you can spend on a house, but it will also help convince sellers that your offer is serious. In fact, some sellers will not accept an offer unless it comes with a pre-approval letter from a well-known lender.

A pre-approval can tell you how much you will qualify for, hold an interest rate while you shop, and help avoid pitfalls when it is time to buy so do not miss this important step in your home search process.

A pre-approval is not a binding commitment, but rather an indication that the lender is willing to extend a mortgage to an applicant once a suitable property has been found and secured via a real estate contract. It is usually valid for 90 to 120 days. The final decision is generally subject to certain conditions being met before the mortgage is finalized such as the appraisal of the real estate is high enough to protect the lender in the case of default, the property title is clear and the property meets inspection standards, plus many other factors.

Even though you have been pre-approved by a lender, it is best practice to include a condition of financing in the purchase agreement to give you time to gather your documents and the lender time to review and give final approval to your application. Once you have a signed purchase agreement, the lender will require written income verification and proof of down payment, as well as proof the title is clear, the property meets inspection standards, and the appraisal of the property is high enough to protect the lender in case of default.

As soon as you receive pre-approval, you will be in a solid position to make an offer on your preferred house, and motivated sellers will be much more inclined to accept your offer. Your mortgage pre-approval letter can make the entire process go more smoothly. The pre-approval letter can also place your offer ahead of others that are comparable. After all, the process of closing on a home can be long and tedious, especially for a seller who needs to move quickly. Therefore, if the seller has to choose between accepting two similar offers and yours is the only one that comes with a mortgage pre-approval letter, the odds are high that you will be the one who ends up signing on the dotted line.