How to select the right flooring for your home

Choosing the right floor for your home is an important decision. Not only does it set the tone for the whole interior of your home, but it’s also the foundation for everything else you put in a room. Your choice should fit the look of your home and the way your family lives.

Each family is unique and will have different demands and expectations for their flooring choice. A large family with kids will have a different set of needs than a retired couple. Pet owners will have a particular requirement as well. Allergy and asthma sufferers will need to keep a clean and dust-free environment.

When making a decision about flooring, keep in mind such factors as design options, comfort, warmth, safety, and maintenance. And don’t forget you can have fun with colour too.

Carpet
Carpet is the right choice for light traffic households; the warm and comfortable feel makes it ideal for bedrooms and family rooms. Carpet is an attractive addition to a room and the colour choices are virtually unlimited. It is, however, high maintenance—regular vacuuming and shampooing are mandatory, and stains are a constant worry. (Price installed: $18 - $30 per yard)

Hardwood Floors
The look of brand new hardwood floors, or even newly refinished hardwood floors, adds an unmistakable quality and value to your home. Wood flooring can add elegance to any room and works well with most kinds of décor. However, they are sensitive to climate changes and also susceptible to water damage, and need constant maintenance. Hardwood floors can also be quite cool in the wintertime.

Another alternative to hardwood flooring is the new generation of products, known as Engineered Hardwood Flooring. This type of wood has been developed to make more efficient use of wood that takes substantially less hardwood to cover the same area. Therefore, it saves you money and allows you to enjoy the new floor knowing that you have selected a product that is environmentally friendly.

Hardwood floors are ideal for halls, living, and dining rooms, and you can easily use area rugs on top to compliments your decor. (Price installed: $7 - $12 per square foot)

Ceramic or Porcelain Tiles
Ceramic tile can give your home that “designer look”. Tiles are available in many evolving designs that can create an incredible floor and suit everyone’s tastes.
Because of their easy-to-clean water resistance nature, ceramic tiles are the best choice for kitchens and bathrooms. However, make sure you select non-slip tiles. (Price installed: $7 - $30 per square foot)

Vinyl Floors
An inexpensive choice in flooring, the new generation of Vinyl Floors are made durable and can add a real “designer’s touch” to your home. They are available in tiles and sheets, Double-thick vinyl is ideal for damp areas like bathrooms.

Vinyl floors are vulnerable to scratches, tears, stains, and wear. (Price installed: $10 - $30 per yard)

Laminate Floors
The floating nature makes Laminate Floors quite simple to install, and the range of styles and colors is virtually endless—from simulated wood and tile to creative and decorative choices that will provide any home with an amazingly durable and beautiful floor.

Laminate flooring is easy to care for which makes it suitable for high traffic areas. (Price installed: $6 - $12 per square foot)

Many people are now choosing a combination of wood flooring, laminate, oak, and carpet in their home to enhance the beauty of the flooring and of course their home. However, style and comfort is in the eye of the beholder and you are the one that will ultimately be enjoying the flooring you choose. Choose a combination of flooring options that fits your own style and needs so you can be happy with your choice later on.

Top 10 Features buyers are looking for in a home

Before making the decision to buy, people shopping for homes consider many factors, including the location of the house, the school district, size of the lot, and also interior features. Most buyers insist on a house that grants most of their wishes, but shoppers often settle for a house without getting everything they want.

When it comes to certain interior features, many are willing to spend thousands of dollars above the price of the home to have specific features included. At least 60% of buyers said they would be willing to pay more for central air conditioning, new kitchen appliances, and a walk-in closet in the master bedroom if they did not already have these features.

Let's take a look at today's most wanted home features

1. Open concept floor plans — Today’s home buyers desire a floor plan that flows seamlessly from one room to another. An open concept floor plan may not be a feature of many older homes, however, in most cases, it can be created with the simple removal of a wall or two. 

2. Eat-in modern kitchens — Kitchens continue to be the social centre of the home. A beautiful kitchen with a large island that serves a multitude of roles, from food preparation station to homework spot to eating area, is becoming a must-have feature for many home buyers.

It’s very easy to spend tens of thousands of dollars on a kitchen remodeling project, however, there are many ways to update a kitchen without breaking the piggy bank.  Knowing what the current trends are for kitchens is extremely important to keep in mind when completing any remodel or update.

3. Energy-efficient fixtures and appliances  — With energy costs on the rise and growing interest in protecting the environment, today's buyers are conscious of buying homes that are green. Energy-efficient appliances and new HVAC (heating, ventilation, and cooling) equipment are also top on the wish list.

4. Home office — As technology continues to make us more mobile, many buyers have more options than ever to work from home. Having a dedicated space is important because it will help keep them focused and concentrated on work while they are at home.

Most agents will point out that a room could be used as an office or other flex living space, especially if it is currently used or staged as a bedroom.

5. Main-floor master suite — This is a must feature for empty-nesters and certain other buyers, and appears to be getting more popular in general due to the increase in our aging population.

6. Outdoor living spaces — A Comfortable outdoor space with a dedicated area for sitting, with outdoor furniture that feels like indoor furniture, continues to top must-have lists.

7. First-floor laundry — Getting the laundry room out of the basement and onto the main level has become the standard.

8. Smart home technologies — Many of today’s home buyers are very “tech-savvy,” especially millennial home buyers.  Home technologies can help increase the “WOW” factor of a home.

Some of the most popular home technology features that today’s home buyers are looking for include:

• Programmable thermostats, such as a Nest, which can be controlled via a smartphone, tablet, or other mobile devices
• Whole home speaker systems, such as Sonos
• Keyless locks that can be accessed via Bluetooth
• Timed irrigation systems

9. Smart storage and dedicated pantry — Dedicated pantry rooms and areas that are specifically designed for storage are becoming more and more appealing to buyers.
 
10 - Finished basements — Many buyers are looking for a finished basement to use as an entertaining space for a large screen TV or billiards, or even a wet bar.

Other notables
Some other notable features that home buyers consider very important when buying a home include central air conditioning, recessed lighting, hardwood flooring, energy efficiency, and the potential to turn a profit should they decide to sell their home in the near future.

Today’s buyers are looking for a little luxury and features and treatments that are the highest quality their price range will permit.

Important Considerations when buying a condo

Condominium sales are booming in many urban areas in Canada especially in large cities such as Toronto and Vancouver, with several buildings being developed. Today, condominiums continue to appreciate in market value at a rate that is almost as fast as that of single-family residences making condos a good investment.

Buying a condo with features that are in high demand will maximize the profit on your real estate investment and create an enjoyable condo living environment.

A condo with a view
A spectacular view is an important factor in deciding the value of a condo unit. A unit with an unobstructed view of the cityscape or a lake is much more preferable to a view of an industrial building or a neighbour's kitchen. Choose south or west-facing unit that offers optimum light, which can make smaller spaces look larger. Balconies and patios provide desirable access to the outdoors, which is highly sought after by condo dwellers. Although these features will cost a premium, they are more than worth the investment and will help in getting a top price when it comes time to sell.

Condo maintenance fees
Buying a condo with a relatively low maintenance fee is a smart choice. Many condos have amenities that include gyms, swimming pools, squash courts, party rooms, or rooftop patios. The cost of these features will result in a higher monthly maintenance fee. Condo buyers should consider whether they will make use of these facilities in order to justify paying a higher maintenance fee.

High demand condo features
Look for condos with modern kitchens and bathrooms that not only provide immediate aesthetic appeal but are in great demand by buyers. Hardwood floors are a very popular feature in condos, not only offering a stylish appearance but also providing a desirable, easy-to-clean alternative to stain-weary, allergen-inducing broadloom.

Storage space
Storage space is important because of the small size of the condo unit. Some condos include a storage locker in the common areas of the building. Make sure there is enough space for your essential seasonal items – such as a bike, skis, snowboard, hockey gear, baseball equipment, Christmas tree, etc.

Car parking
As parking in large cities can be scarce, a condo that has a parking space included is a very good investment. Ensure that the building has ample visitor parking or that there is available street parking in the neighbourhood. Many condos in the downtown core provide no visitor parking, leaving the costly option of parking in a public parking lot.

Building security
While having a security guard on site does provide added security, keep in mind that this expense will increase the maintenance fee.

Owner occupancy rate
Is also important to find out who occupies the other units of the complex. Owners occupying their suites have an invested interest in the building and typically take better care of common areas.

Do not get caught up in the looks and cosmetics of a condo. Go back at least a couple of times to view all the things you may have overlooked or didn't consider when visiting the first time.

Condominium units have become a wise alternative to owning a house. This is not surprising, as living in a condo can be more convenient than living in a house. A condo is ideal for individuals living alone, small families, and older people. And because condos are smaller, they are less expensive to maintain.

Buying your first home in a Seller's Market? Be flexible ...

First-time home buyers share a common dilemma. On one hand, most of them are on a tight budget and have limited resources. On the other hand, they have big dreams about the ideal house they would like to have.

It’s okay to have a wish list of features that you want in a home. In fact, it’s a very good idea. It will make your shopping much easier, and you will increase the chances of finding a property you like.

However, in most cases the ideal dream home is far beyond the reach of many buyers, at least price-wise. Even if their real estate agent is able to find a property with most of the features the buyer wants to have, the property may not be in the right neighbourhood or price range.

Getting into a starter home
You need to be flexible when choosing your first home. And if you’re not flexible with your wish list, you may miss out on some otherwise ideal opportunities. The perfect home, at the right price, may not exist on the market, but a property that meets most of your criteria probably does.

Unless you are status conscious, your first home doesn’t necessarily have to be your dream home. You could settle for a starter home, which you can afford with a small down payment and easy mortgage installments.

Keep in mind that a less-than-perfect property can potentially be improved. If the house doesn’t have a spacious kitchen, you may be able to expand the kitchen area – perhaps by adding a pantry in an adjacent room. There are plenty of lower-priced houses out there in need of repair, with some "Do-It-Yourself" projects you can add more value to the house. Be careful not to buy a place where the cost of repairs will eat up any profits you might make when you sell.

In just a few years you will build enough equity in your starter home to make it easier for you to sell and move into your dream home.

Buying your first home is an exciting process. After all, your home could be the largest asset you’ll ever own. Being able to finance most of its cost will take a load off your back in the future.

January Home Sales Set New Records

PRICES CONTINUE TO ESCALATE

KITCHENER-WATERLOO, ON (Feb 3, 2022) –– The 402 residential homes sold last month through the Multiple Listing Service® (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR), set a new record high for January. On a year-over-year basis January’s sales were up 12.3 per cent; compared to last month they were up 16.5 per cent. The previous ten-year average number of residential sales for January is 291.

 

“While it’s a new year, the song remains the same with homebuying demand outstripping supply in January,” said Megan Bell, President of KWAR. “This has resulted in price jumps across all property types.”   

 

Total residential sales in January included 217 detached (up 4.8 per cent from January 2021), and 74 condominium units (up 1.4 per cent). Sales also included 24 semi-detached homes (up 14.3 per cent) and 87 townhouses (up 52.6 per cent).  

  

In January, the average sale price for all residential properties in the Kitchener-Waterloo area was $955,665. This represents a 37.3 per cent increase over January 2021 and a 13.6 per cent increase compared to December 2021.

 

• • • The average price of a detached home was $1,152,707. This represents a 35.5 per cent increase from January 2021 and an increase of 12.9 per cent compared to December 2021.
    • The average sale price for an apartment-style condominium was $538,239. This represents an increase of 42.2 per cent from January 2021 and an increase of 7.7 per cent compared to December 2021.
    • The average sale price for a townhouse was $836,306. This represents a 47.9 per cent increase from January 2021 and an increase of 16.7 per cent compared to December 2021.
    • The average sale price for a semi was $849,845. This represents an increase of 35.6 per cent compared to January 2021 and an increase of 10.3 per cent compared to December 2021.
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KWAR cautions that average sale price information can be useful in establishing long-term trends but should not be used as an indicator that 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.

 

The MLS® HPI composite benchmark price for all residential properties in Kitchener-Waterloo was $924,900 in January. This represents a 37.1 per cent increase over January 2021 and a 8.6 per cent increase compared to December 2021.

• • • The benchmark price for a detached home was $1,038,200. This represents a 39.7 per cent increase from January 2021 and 9.8 per cent increase compared to December 2021.
    • The benchmark price for an apartment-style condominium was $437,700. This represents a 25.9 per cent increase from January 2021 and a 6.1 per cent increase compared to December 2021.
    • The benchmark price for a townhouse is $682,200. This represents a 40.7 per cent increase from January 2021 and a 6.1 per cent increase compared to December 2021.

Bell notes it is anticipated that the Bank of Canada will raise interest rates at their next scheduled announcement in mid-March. “I think we can expect over the course of the next few weeks, buyers who have yet to be priced out of the market will be looking to lock in a mortgage and scoop up any homes that come onto the market.”

 

There were 514 new listings added to the MLS® System in KW and area last month, an increase of 17.4 per cent compared to January of last year, and a 20.1 per cent decrease compared to the previous ten-year average for January.

 

The total number of homes available for sale in active status at the end of January was 174, a decrease of 22.0 per cent compared to January of last year, and 80.3 per cent below the previous ten-year average of 883 listings for January.

 

The number of months of inventory remained extremely low in January at 0.3. Inventory has been at half a month or less since July of 2021. The number of months of inventory represents how long it would take to sell off current inventories at the current rate of sales.  

 

The average number of days to sell in January was 9 days, compared to 16 days in January 2021 and a previous 5-year average of 24 days. 

 

Those requiring specific information on property values should contact a local REALTOR®.  Working with a Realtor is the best way to get a complete picture of the property and community you are considering.