What’s happening in Waterdown in August? Share with your family and friends!
 
Fairies in the Forest
Aug 4-5 @ 10am-4pm
Westfield Heritage Village
https://westfieldheritage.ca/events/
 
A Run for Chris
August 18 @ 11am-2pm
Joe Sam’s Park
https://waterdownvillage.ca/event/a-run-for-chris/
 
Flamborough Connects Fundraising BBQ
Fridays until Aug 30 @ 11:30am-1:30pm
Turkstra Lumber
https://flamboroughconnects.ca/event/flamborough-connects-fundraising-bbq/
 
Dyment’s Burger & Brisket Stand
Thursday to Sunday @ noon to 7pm
Dyment’s Market & Bakery
https://www.dyments.com
 
Farmer’s Market
Until mid-October @ 8am-1pm
Royal Canadian Legion
https://www.waterdownfarmersmarket.ca/index.html
 
Outdoor kitchen is open!
Wed-Sun @ noon to 6pm
West Avenue Cider House
https://www.westavenue.ca/wp-content/uploads/2024/06/Meadow-Menu-Regular.pdf
 
Enjoy the fun!!

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

May's housing market maintained low sales levels, continuing the trend from last spring's brief surge in activity. Prospective home buyers are still holding out for lower mortgage rates, while current homeowners are anticipating a rise in demand, as shown by a year-over-year increase in new listings. This increase in available homes has given buyers more room to negotiate prices.

According to recent Ipsos polling, many home buyers are awaiting clear signs of decreasing mortgage rates. As borrowing costs are expected to drop over the next 18 months, the market should see an influx of buyers, particularly first-time purchasers. This will help alleviate the pressure on a currently tight rental market.

While interest rates remained high in May, buyers benefitted from slightly lower selling prices compared to last year. Selling prices have adjusted to counteract the effects of higher mortgage rates, and affordability is anticipated to improve further as borrowing costs decrease. However, as demand rises, we can expect upward pressure on home prices due to increased buyer competition.

For the long-term affordability and livability of our region, a coordinated effort from all levels of government is necessary to address the housing deficit and accommodate new population growth. Additionally, governments must ensure the delivery of infrastructure to support this growth. The region's economic health and livability depend on the timely completion of public transit projects and increased transparency.

If you're looking to navigate the current housing market with confidence, now is the perfect time to seek expert advice. Contact me today!

Taking the leap into homeownership is an exciting journey, and you're in the right place to get started. Whether you're looking to buy a house, townhome, condo, new build, or land, understanding the real estate transaction process is crucial. Here are some key tips to guide you smoothly through this adventure.

Expand Your Horizons Beyond Familiar Neighborhoods

Consider exploring neighborhoods outside your comfort zone. Venturing into lesser-known areas can reveal hidden gems with unique charm and character. Attend local events, visit parks, and immerse yourself in the culture of different neighborhoods to find the perfect fit.

Plan for all homeownership expenses, not just the down payment

While saving for a down payment is essential, it's just one part of the financial picture. Prepare for additional costs like closing fees, property taxes, homeowner's insurance, and potential maintenance fees. Planning for these expenses from the start ensures a more accurate financial plan and prevents future surprises.

Start small and build up

Your first home doesn't have to be your forever home. A starter home often means a more affordable, smaller space that allows you to build equity and financial stability. Over time, you can upgrade to a larger or more desirable property as your circumstances improve.

Exercise patience in the Home Buying Process

Finding the right home can take time. While some people know they've found "the one" right away, it's more common for the search to take months. Patience is key, and it will pay off when you find the perfect home.

Shop around for the best mortgage rates

Don't settle for the first mortgage rate you come across. Whether working with a mortgage broker or directly with lenders, compare different options to find the best rate. A lender who understands your financial goals can offer a tailored rate, leading to significant savings over the loan term.

Maintain a financial cushion

While a substantial down payment is beneficial, avoid using all your savings. Keep some funds aside for emergencies, repairs, and unexpected expenses. This financial cushion provides peace of mind and security as you navigate homeownership.

By following these tips, you'll navigate the home buying process with less stress and more confidence. Feel free to reach out anytime—I'm here to guide you through this exciting adventure!

As your mortgage renewal date approaches, it's an ideal time to reassess your current living situation. With the housing market constantly evolving and personal circumstances changing, this is a perfect opportunity to consider whether your current home still meets your needs or if it's time for a change. As your trusted realtor, I'm here to provide insights into the options available to you: assessing your home's value, considering renovations, or deciding if selling and buying a new home is the best path forward. My goal is to help you make a smart, well-informed, long-term decision.
 
Assessing the Value of Your Home
Before making any decisions, it's crucial to understand the current market value of your home. This involves: 

• Getting a Professional Opinion: I can provide an accurate estimate of your home's worth. This will give you a clear picture of your equity and help you understand your financial position.

• Comparative Market Analysis (CMA): I'll provide you with a CMA, which compares your home to similar properties that have recently sold in your area. This can offer a more localized perspective on your home's value.

• Market Trends: I'll keep you updated on real estate market trends in your area. Are prices rising or falling? Understanding the market can help you decide if it's a good time to sell or stay put.

 
Considering Renovations
Renovating your home can be a great way to enhance its value and functionality. Depending on your needs and budget, you might consider:
 

• Cosmetic Improvements: Simple updates like fresh paint, new fixtures, or modernizing the kitchen and bathrooms can significantly boost your home's appeal without breaking the bank. 

• Major renovation: If you're looking for more space, adding a storey or converting your basement into a livable space can increase your home's square footage and also add value. 

We can discuss the feasibility and potential costs & returns on those investments of either of these options when we talk.
 
Should You Sell and Buy a New Home?
Sometimes, selling your current home and purchasing a new one is the best option, especially if:
 

• Your Current Home No Longer Meets Your Needs: Whether you need more space, a different layout, or a better location, a new home might be the solution.

• Market Conditions Are Favorable: If the market is strong, you might get a good price for your home and find a new one at a reasonable cost.

• Financial Considerations: Calculate the costs involved in selling and buying a new home, including real estate commissions, closing costs, moving expenses, and any potential renovations in the new home versus renovating your own. These costs can add up, so it’s important to budget carefully. 

Making a Smart Long-Term Decision
To make the best decision for your future, consider the following steps:

• Financial Assessment: Review your financial situation, including savings, income, and potential mortgage rates. I can connect you with trusted financial advisors to understand how each option will impact your long-term financial health.

• Lifestyle Considerations: Think about your long-term goals and lifestyle needs. Are you planning to start a family, or are you nearing retirement? Your future plans should heavily influence your decision.

 
I'm Here to Help
Navigating mortgage renewal and deciding on the next steps for your home can be daunting. As your realtor, I'm here to provide you with the guidance and resources you need to make a smart, informed decision. Whether you're considering renovations or contemplating a move, I'm committed to helping you understand the costs and benefits, ensuring that your choice aligns with your long-term financial and lifestyle goals.

Reach out to me today to schedule a consultation and take the first step toward making your home work better for you and your future!

Save and share with your family & friends!
 
Worlds of the Night Exhibit
Until August 24 @ 10am-4pm
Joseph Brant Museum
https://museumsofburlington.ca/exhibition/worlds-of-the-night/
 
Burlington Model Railway Club – Open House
Saturday, May 4 @ 11am-3pm
Aldershot, Burlington
https://www.burlingtonmodelrailwayclub.ca
 
AGB Spring 2024 Opening Reception
Thursday, May 9 @ 6:30-8pm
Art Gallery of Burlington 
https://agb.life/visit/events/opening-reception-spring2024
 
Cherry Blossom Festival
Saturday, May 11 @ 1-3:30pm
Celebration: Burlington Performing Arts | Trees: Spencer Smith Park
https://www.burlington.ca/en/news/festivals-and-events/sakura-festival.aspx
 
RBG After Dark: Spring into Summer
Thursday, May 16 @ 6-10pm
RBG Rock Garden
https://www.rbg.ca/events/rbg-after-dark-spring-into-summer/
 
Adults, Kids & Teens programs
Burlington Public Library
https://www.bpl.on.ca/sites/default/files/_content_files/page/PDF/ProgramGuide-Kids.pdf
https://www.bpl.on.ca/sites/default/files/_content_files/page/PDF/ProgramGuide-Adults.pdf

Save and share with your family & friends!

Farmer’s Market
Every Saturday @ 8am-1pm – Starting May 25
Royal Canadian Legion
https://www.waterdownfarmersmarket.ca/index.html
 
Sidewalk Sale
Sat-Sun May 4-5
Village of Waterdown
https://waterdownvillage.ca/event/community-sidewalk-sale/
 
Guided walking tours of Heritage District
Saturday May 4 @ 10am-4pm
Starts at the American House
https://waterdownvillage.ca/event/doors-open-hamilton/2024-05-04/
 
Maple Taps Festival
Sat-Sun May 4-5 @ 12-6pm
West Avenue Cider House, Freelton
https://www.facebook.com/100063772863003/posts/909473087855112/?mibextid=QwDbR1&rdid=gXcqY13WHsDVKYXb
 
Spring Pottery Sale
Fri-Sat-Sun May 3 to 5
Dundas Lions Memorial Community Centre
https://www.hamiltonpotters.ca
 
Bloom, live theater – Evenings & Sunday Matinees
May 3 to May 5 – 8pm & 2pm
Village Theatre Waterdown
https://villagetheatrewaterdown.ca/bloom/

In April 2024, the Toronto real estate market saw a decrease in home sales by 5% percent compared to April 2023. Despite this drop, new listings surged by 47.2 percent year-over-year, providing more options for buyers but not significantly impacting the average selling price, which saw a marginal increase of 0.3 percent. The Toronto Regional Real Estate Board officials noted that while current listings are notably higher, potential buyers might be delaying purchases in anticipation of forthcoming rate cuts by the Bank of Canada. Looking ahead, TRREB anticipates that declining borrowing costs will lead to tighter market conditions and renewed price growth as we move towards 2025.
 
Read the full GTA report here: 
https://trreb.ca/wp-content/files/market-stats/market-watch/mw2404.pdf
 
The Hamilton-Burlington region saw a 7% decrease in housing sales compared to April 2023, marking a departure from long-term trends for this month. Despite this, year-to-date sales remained on par with the previous year. The REALTORS® Association of Hamilton-Burlington (RAHB) noted that while apartment home sales declined, there was an increase in semi-detached and row-style home sales. New listings increased, raising inventory levels across all property types and price ranges—a notable change given the typically low inventory levels of the past decade. The months of supply also increased, reflecting more balanced market conditions compared to the tight supply last year. 
 
Read the full Hamilton-Burlington report here: 
https://s1.cdn.rahb.ca/rahbca/wp-content/uploads/2024/05/April-All_Regions.pdf
 
Even if you're not actively looking to buy or sell, understanding the market can help you spot opportunities. This might include buying a second home, investing in rental properties, or downsizing at an opportune time to maximize your financial gain. 
 
Whether you're planning your next big move or just curious about your home's current value, staying informed about the real estate market is crucial. As your dedicated real estate expert, I'm here to provide you with up-to-date market insights and personalized advice tailored to your unique situation.
 
Take the first step – give me a call! 

Let's crunch some numbers!

Figuring out your GDS (Gross Debt Service) and TDS (Total Debt Service) ratios can really help you understand what you can afford. Here’s a quick breakdown:

GDS shouldn't be more than 39%. It's all about your housing costs (think mortgage, property taxes, heating, and maybe condo fees) versus your gross income.

TDS includes all that plus your other debts (like credit cards, car loans, etc.) and should stay under 44%.

Want to play with the numbers and see where you stand? Check out CMHC’s handy calculator!

cmhc-schl.gc.ca/consumers/home-buying/calculators/debt-service-calculator

Here are six home improvements that are not only attractive to homebuyers today but that will yield the highest return when you are ready to sell.

1.    Energy Efficient Upgrades. 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 bills.

2.    Kitchen / Bathroom Remodels. A beautiful kitchen and updated bathroom are on the wish list of many homebuyers. While some kitchens and bathrooms may need a complete overhaul, even minor renovations such as new countertops and taps can be enough to increase the value of your home.
 
3.    Fresh Coat of Paint. There is nothing like a fresh coat of paint to liven up a home. A fresh coat of paint in a neutral tone, both inside and outside, is the most inexpensive way to update your home and ensure you attract more buyers.
 
4.    Exterior Improvements. Replacing an old garage door, upgrading your front door, adding low maintenance landscaping, removing old awnings or adding a deck are all high-ROI renovations in the long term.
 
5.    Finished Basement. Finished basements add useable space for things like a home gym, entertainment/bar area, game room or kids’ playroom. Be sure to use water resistant materials, test and repair any water damage while finishing your basement.
 
6.    Home Office. With the current trend toward work-at-home schedules, converting a spare room to a functioning home office will be attractive to many homebuyers today.
 
For a complimentary consult on how to improve your home’s value, please reach out anytime!