Are you prepared for what may happen next? Do you know all the ins and outs of what comes with a rapidly changing real estate market? This is why finding the right REALTOR® for you is such a crucial step in the process. Navigating the current real estate landscape is tricky in times of uncertainty, but luckily for you, I can help calm all your concerns. Here’s how.

1. Market insights 

As your REALTOR®, I have access to data pertaining to your local & micro housing markets and have experience navigating all markets, from being in the Top 1% in Canada for well over a decade. I understand the stakes are usually high and know the importance of having the right strategy in place for the type of market you’re in. Managing showings, offers, conditions, negotiations, finances, moving companies, packing—it’s all too much! Let me help you with this.

For sellers, I can gather information on comparable homes, see what they sold for and when, and I also know what buyers are looking for in your area. With me, you get the full support of a boutique style real estate team, from pre-listing preparation and marketing to the successful sale of your home, and I will remain by your side regardless of when you plan your next move.

For buyers, I am here to work for you and get the best home for you. I can advise you on what to expect in your local market, from commute times and proximity to amenities, to noise levels and municipal regulations you may not have heard about.

All real estate markets are local—what’s happening with national and regional numbers may not be relevant for you. I will help you make sense of it all.

2. Negotiation skills

It doesn’t matter if interest rates are at 5%, 10%, or 1%—at the end of the day, my top priority is looking out for you and making sure you’re comfortable with whatever price you land on.

As your REALTOR®, I ensure that I know what you’re pre-approved for, and I understand how interest rates affect your buying power. By clearly communicating your wants, needs, and budget, I can properly advocate on your behalf. 

3. Financial guidance

Did you know I can help you before you’re pre-approved? That’s right! Reach out to me to get a handle on how your local market is reacting to the latest news from the Bank of Canada. I can also provide you with a list of lenders I’ve worked with and offer tips and tricks to help you secure a better rate.

Before doing anything, have a look at our Mortgage and Payment Calculator — https://www.philiphollett.com/buyers/calculators/ - which can provide you with an early look at your financial situation. 

4. Professionalism and sense of security

One of the biggest worries for people on the move is the uncertainty of conducting a real estate transaction. There are so many variables (not just talking about interest rates here!) to think about. From land transfer taxes and lawyer fees to dealing with complete strangers while trying to complete one of the largest financial transactions of your life—you have a lot on your plate if you’re buying or selling.

I understand this. I won’t push you into something you’re uncertain about and can help with market timing strategies to make the current interest rate situation work better for you.

5. Home buying and selling MVP

As your REALTOR®, I am your personal real estate MVP. While you’re figuring out financing, I can already get to work behind the scenes. If you’re buying, this means setting up searches for you, staying on top of houses that are hitting the market, and using my connections to find what might be coming available—hey, with interest rates dropping, anything you can do behind the scenes to get a leg up on your competition is worthwhile.

If you’re selling, I can get to work marketing your property right away, getting it ready for staging, and compiling documentation, all without disrupting your routines too much.

By now, you know interest rates impact the Canadian real estate landscape and that likely isn’t about to change anytime soon. Making the right decision at the right moment seems like a lot of pressure when you don’t know where interest rates will be on a month-to-month basis.

Thankfully, as your REALTOR®, I monitor market trends and housing data to ensure that, whether you’re buying or selling, your best interests are kept top of mind.  Reach out for more details on how we can help you plan your journey to achieving your real estate goals!

Not ready to sell but want a change? It might be time for a renovation. But which renovation will net you the highest return when you do decide to sell?

Energy efficient renovations
Upgrading your insulation or replacing your doors and windows with more energy efficient equivalents are some of the most valuable renovations you can do. Not only can they add value to your home but will also decrease your monthly utility bill. 

Fresh coat of paint
There’s nothing like a fresh coat of paint to liven up a home. A paint job in a neutral tone, both inside and outside, is the most inexpensive way you can update your home and ensure you attract buyers.

Front door replacement
This is one of the simplest ways to add value to your home. A beautiful entrance has buyers excited to find out what’s inside!

Minor kitchen remodelling
A beautiful kitchen is on the wish list of many home buyers. While some kitchens may need a
complete overhaul, even a minor kitchen renovation is often enough to increase the value of your home.

Garage door replacement
Replacing an old garage door can dramatically improve the look of your exterior and is one of the more cost effective renovations in the long term.

I’d love to show you how i can help. Give me a call anytime for a complimentary real estate consultation.

As a realtor, I’ve observed a remarkable shift in the housing market towards multigenerational living. This trend, driven by rising affordability challenges, is transforming the way Canadian families approach homeownership.
 
Multigenerational homes are becoming more common, even in areas where they were once rare. Single-family homes are being converted into multi-unit dwellings, accommodating two to three generations under one roof. We’ve done it ourselves in 2016 by converting a Bungalow into a legal duplex, where both units have their own private entrance, a full kitchen, bathroom, laundry, bedrooms, living room and large windows.
 
The economic benefits are clear. Multigenerational living allows families to pool resources, making homeownership more feasible amidst high costs. This approach not only provides shelter but also creates opportunities for rental income, benefiting everyone involved.
 
A 2023 survey by Royal LePage Real Estate Services Ltd. confirms that financial constraints are driving this trend, with 49% of co-owners purchasing together due to affordability issues. Multigenerational households, including parents, children, and even friends or siblings, are becoming the fastest-growing household type in Canada.
 
As affordability challenges persist, multigenerational and creative living solutions offer practical and financially viable options for Canadian families. As a realtor, embracing these trends can help clients navigate the evolving market and find homes that meet their diverse needs.
 
If you're considering a multigenerational living arrangement or looking for creative housing solutions, now is the time to act. Contact us today to explore the best options for your family and discover how we can help you find a home that fits your unique needs.

I wanted to take a moment to share some important updates from the 2024 federal budget that could impact your financial planning, especially concerning capital gains. Here’s a brief overview of the key changes and their potential implications.

Key Federal Budget Capital Gains Measures

Increase in Capital Gains Inclusion Rate
Change: Effective June 25, 2024, the capital gains inclusion rate rose from 50% to 66.67% for trusts and corporations. For individuals, the rate also increased to 66.67% but only on annual capital gains exceeding $250,000. Gains below this threshold will continue to be taxed at the 50% inclusion rate.
Impact: This means a larger portion of your capital gains will be subject to income tax, potentially increasing your tax burden on real estate investments, property sales, and gains realized within corporations. Additionally, gains on Canadian residential property held for less than a year may be considered business income, thus being fully taxable under the residential property flipping rule unless an exception applies.

Increase to Lifetime Capital Gains Exemption (LCGE) for Entrepreneurs
Change: The LCGE increased to $1.25 million (up from $1.016 million) for eligible capital gains, effective June 25, 2024.
Impact: If you're selling shares of a qualified small business corporation (QSBC) or qualified farm and fishing property (QFFP), this increase in the exemption amount can significantly benefit you by reducing your taxable income.

Alternative Minimum Tax (AMT) Adjustments
Change: Adjustments to AMT rules to align with changes in regular income tax calculations. The AMT is a parallel tax calculation that allows fewer tax credits, deductions, and exemptions than ordinary personal income tax rules. Taxpayers pay the higher of the regular tax or AMT.
Impact: AMT considerations become crucial in planning for capital gains realization and charitable contributions, influencing your tax planning strategies.

Canadian Entrepreneurs’ Incentive
Introduction: Starting in 2025, a new initiative will reduce the capital gains tax rate to one-third on up to $2 million of qualifying shares. This incentive provides for a capital gains inclusion rate that is half the prevailing rate on up to $2 million in capital gains per individual over their lifetime.
Impact: While this incentive does not apply to professional corporations, it aims to promote entrepreneurship by lowering the tax burden on qualifying share sales.

Strategic Planning Considerations
Consultation: Engage with a tax advisor to navigate these changes effectively and tailor strategies to your specific financial situation.
Long-term Planning: Assess the implications for retirement planning, estate management, and future investment decisions in light of these regulatory adjustments.

As these tax policies evolve, proactive planning is crucial. This overview is just a high-level summary provided by the Toronto Regional Real Estate Board (TRREB), and I strongly encourage you to seek expert professional advice to safeguard your financial interests.

In the meantime, for more information, please visit the Government of Canada’s website.
https://www.canada.ca/en/department-finance/news/2024/06/capital-gains-inclusion-rate.html#

Disclaimer: This information is based on proposed legislation and is subject to revision. It does not constitute accounting, legal, or tax advice. For personalized advice, please consult with a qualified professional.

What’s happening in Burlington in July? Save and share with your family and friends!
 
Fireworks from the Rooftop
July 1
Joseph Brant Museum
https://museumsofburlington.perfectmind.com/29385/Classes/BookMe4LandingPages/Class?classId=33374fef-f3e7-f03f-31cd-27a92b95aa6e&occurrenceDate=20240701
 
Floral Display celebrating Summer Games
Until Sept 2
Royal Botanical Gardens
https://www.rbg.ca/events/display-celebrating-the-summer-games/
 
Music in The Garden
Wednesdays or Thursdays
Hendrie Park, RBG
https://www.rbg.ca/things-to-do/by-season/special-events/garden-music-nights/
 
Concerts in the Park
Wednesday & Sundays
Central Park Bandshell
https://tourismburlington.com/event/concerts-in-the-park/2024-07-03/
 
Burlington Food Truck Festival
July 19-21
Burloak Waterfront Park
https://www.canadianfoodtruckfestivals.com/burlington/

What’s happening in Waterdown in July? Share with your loved ones!

Oh Canada Rib Fest
June 28-July 1
Memorial Park, Waterdown
https://www.ohcanadaribfest.ca
 
Farmer’s Market
Saturdays 8AM-1PM until mid-October
Royal Canadian Legion, Waterdown
https://www.waterdownfarmersmarket.ca/index.html

Because Beer Festival
July 12-14 
Pier 4, Hamilton
https://www.becausebeer.ca

Farm Crawl
July 27
Multiple locations in Hamilton area
https://www.farmcrawl.ca
 
West Avenue Cider House
Outdoor kitchen is open!
Wed-Sun @ 12pm-6pm
84 Concession Rd 8 E, Freelton, ON
https://www.westavenue.ca/wp-content/uploads/2024/06/Meadow-Menu-Regular.pdf