CENTURY 21 Bravo Realty - Blog

Albertans Believe Housing is a Good Investment

bruce.liang@century21.ca — Thu, 09 May 2013 00:00:00 GMT

by Cody Stuart on May 8, 2013

Nearly nine-in-10 Albertans surveyed said buying a house or condo is a good investment, according to a poll released by RBC.

As outlined in the bank’s 20th Annual RBC Home Ownership Poll, 89 per cent of Albertans said buying a home was a good investment, compared to the national average of 84 per cent. The poll showed homebuying intentions in the province have dropped to 22 per cent from 31 per cent a year ago.

“The more cautious mood this year is not surprising and is consistent with broader economic and industry forecasts. An unseasonably warm spring, low rates and anticipation of mortgage rule changes may have led many Canadians to move forward their home purchases in the first half of 2012,” said Sean Amato- Gauci, senior vice-president, Home Equity Financing, RBC. “Our findings suggest confidence in the housing market is still high and young Canadians are the bright spot as they look to buy their first home and seek the advice to do it right.”

The RBC poll also showed almost half of Albertans (49 per cent) feel their current housing market is balanced, compared to the national average of 40 per cent.

In a similar poll from TD Canada Trust, saving for a down payment, rising property prices and small paycheques were listed by young Albertans as the top barriers to homeownership.

According to TD, 65 per cent of Generation Y (those born between 1981 and 1999) non-homeowners identified increasing property prices as the main challenge to owning a home, compared to just 14 per cent of baby boomer (those born between 1946 and 1964) homeowners.

The next biggest barrier for young homebuyers was saving a large enough down payment, with 64 per cent of those polled stating they were unable to save enough, compared to 41 per cent of Baby Boomers.

“While young people may be anxious to start building equity rather than paying rent, waiting until you have a larger down payment can save you thousands of dollars over the life of your mortgage,” said Cheryl Tackaberry, Sales Manager, Mobile Mortgage Specialists, TD Canada Trust. “First time buyers can also consider the federal government’s Home Buyers’ Plan, which lets you borrow up to $25,000 from your RSP for a down payment on your first home.”

Not earning enough was also amongst the top concerns for young buyers, with nearly half (46 per cent) of those polled stating they weren’t earning enough to afford monthly mortgage payments versus just 10 per cent of baby boomers.

Changing Demographics

deborah.scruggs@century21.ca — Tue, 07 May 2013 00:00:00 GMT

Changing Demographics Affect All Of Us

A changing society is certain to affect almost everything surrounding it, including real estate. For example, as more divorces occur, more older singles enter the market for a home. Many of these newly single buyers are downsizing, even though they need to accommodate children on a full-time or part-time basis. It’s one of many realities affecting the typical use (and size) of the so-called family home, as well as its market value.

Logically, a general trend of downsizing to affordable accommodation for smaller families will have an impact on demand for smaller homes. This, in turn, will create selling opportunities for owners of townhouses and condos (e.g. two-bedroom, one-bedroom, or even bachelor units with hideaway beds). However, owners of smaller homes wouldn’t necessarily be the only benefactors of this trend. Meeting the needs of divided families will, no doubt, fuel other changes. A significant shift of owners of larger homes to smaller urban units will precipitate an influx in large suburban homes entering the market, some that would be available for immediate occupancy. This could offer unique opportunities to growing and established families ready to move into a larger home at a very attractive price.

How to Make Gardening and Landscaping Easier

deborah.scruggs@century21.ca — Tue, 07 May 2013 00:00:00 GMT

Hardy Plants Make Gardening and Landscaping Easier

To make gardening easier, consider plants that offer good ground cover, adapt well under the range of local conditions, and work within your designated hardiness zone (determined by average minimum temperature).

As a general example, hostas are a broad-leafed species that will thrive in most North American regions, as long as they are not over-exposed to sun. Mature hostas can even be divided to expand your coverage. Ferns can also flourish under various conditions, with little attention required beyond adequate water and, in some cases, shade. Flowering species such as daylilies and black-eyed susans can add colour, with a range of bloom types that often require only basic care.

Whatever plants you choose for your home or cottage, locate them in places that match their sunshine, soil and water

requirements. Before planting your garden, check regional hardiness guidelines as well as local rules pertaining to water conservation, fertilization and pesticide use.

Doubling Your Storage Space (While Using the Same Space)

deborah.scruggs@century21.ca — Tue, 07 May 2013 00:00:00 GMT

Finding storage space in the home is becoming increasingly challenging. These days, we all just seem to have more stuff!

Fortunately, you don't necessarily need to rent a storage locker or add a new room to your home to fit everything. There are many innovative ways to increase the capacity of the storage space you're already using. For example, there are storage bins you can buy that are designed to fit neatly under a bed. Some have wheels, making the bins easy to pull out and access.

You've probably seen closet organizers at your local home improvement centre. These can easily double the storage capacity of a closet, while making the space look neater and more organized. Finally, there are storage units available that are camouflaged as something else, such as an ottoman.

Visit your local home improvement centre. There are many more innovative storage solutions available for your home.