Recently we listed an investment property in Guelph that deserves your attention. The reason is because it features a legal 3 bedroom apartment!
Why is This Great News?
The city of Guelph does not currently allow more than 2 bedrooms in a basement apartment. There are also restrictions on the percentage of square feet that the apartment has in comparison to the main house. This property, 75 Cedar St in Guelph, is what we called grandfathered. The legal status was granted before the changes of the by-laws and building codes, so it will remain with the property unless there are significant changes.
We love this investment property because it can generate up to $3000 per month. The high quality finishes and modern decor appeal to the students and young people of the city. The bus stop is close by and the University of Guelph is walking distance.
The other reason we love this investment property is because it can be flexible for a buyer. It can be a family home, renting to a young couple in the basement, or it can be a full rental. The 3 bedrooms on each separate floor are relatively easy to rent out. In our experience 3 rooms are much easier to rent than 4 rooms.
if you want to learn more about this house click on the link below:
2015 was another blazing year for real estate. Those of you who used a Realtor® saw this first hand with multiple offers, and often times over asking sale prices. Those who didn’t use a Realtor® still benefited by selling in a reasonable time frame, and acceptable price. The strong market was caused by the lack of inventory in Guelph. The simple answer is that more people wanted to move here, rather than leave. Our strong local economy, low unemployment and low vacancy rates all assisted in creating an appealing housing market.
In 2015 over 86% of properties that were listed sold! That may not sound very good to some people, but remember this includes ALL properties and as we know not all properties are sellable. Out of 2769 properties listed, 2399 sold! The average days on market was 21. Yes, 21 days to sell your house firm!
What Happened in January This Year?
January continues to be hot!! Although the snow hasn’t melted from the heat! The January market has some people scratching their heads, as traditionally January is dead, but to those of us who do this every day, it is actually predictable. The factors are nearly always predictable, at least in the last 10 years.
The first reason is pent up demand from the Christmas holidays, buyers are finished with the festivities, and now focus on buying a house again. Many people still have not secured a home from the fall because of the brisk market.
The second influence is the student rental market. Investors and parents scramble to secure a property in a short window of time while students simultaneously search for properties to rent. This creates excitement and an early start to the year. The energy of this period is sensed by the local “regular” buyers and sellers and the transition to normal real estate market activities is smooth as the snow melts away. The spring market springs early!
What Does This Mean?
What it means is that if you own property in Guelph, you have a great investment! People want to live here and you can enjoy the equity that creates. If you want to sell, you will get top dollar if planned correctly. If you buy and you also plan correctly, you will join a healthy real estate market and start building your dreams with confidence. Please consult with us BEFORE you make any decisions so that we can guide you through the process, and get you the best outcome for your situation.
Get The Full Guelph Market Report!
Please fill out the form below and we will send you the full 3 page PDF January 2016 Guelph Real Estate Market Report.
Recently we created a Google community called Guelph Rent to Own Homes. We truly believe that everyone deserves a chance to own a home and in todays fast paced real estate market, the dream seems to be slipping away for many.
There is hope though and we endevour to shed some light on this subject by bringing together local experts, renters, and investors to discuss the pros and cons to rent to own homes. We need your support to make this community vibrant and filled with useful knowledge and experiences. Personally I have never created a community before and could use some advice on this as well. We look forward to your involvement.
It’s no secret that bathrooms are a popular room to remodel—because of outdated features, different decorating taste from the previous owners or simply normal wear and tear on a very functional room of your home. If the New Year has you thinking about remodeling a bathroom, here are a few things to consider:
Timely or Timeless Style – Before you remodel, picture what it will look like in a couple years when you sell your home. Will you still enjoy that trendy sink? Make sure future buyers will, too. Otherwise they’ll factor in the cost of their own remodel when making an offer.
Costs—Good News – Right now many contractors are eager for work, and prices are lower for their materials and labor, so now may be an ideal time to make your bathroom more livable.
Resale Value – You may have heard during the housing boom that bath remodels add value to your home. These days you can recoup about 64% of the costs of a minor bathroom remodel, according to Remodeling magazine’s “2010-11 Cost vs. Value Report.” If your bathroom is especially in need of updates, you may recapture more.
Too Much? Think Small – If you’re not ready for a full remodel, then a fresh coat of paint, new towels and a pretty framed print can do wonders to update your bathroom—and give you a new look for 2016.
Remember: you and your family are the ones using your bathroom on a daily basis, so think about whether it makes you feel good when you brush your teeth every morning.
If you’d like more information about how a remodel can affect the value of your home, please don’t hesitate to call or email.
Tim Hortons says it plans to close the doors at 36 of its coffee and doughnut shops in the northeastern United States.
The iconic Canadian restaurant operator has been making inroads into the U.S. market but announced that it will make a strategic retreat from Providence, R.I., and Hartford, Conn.
All but two of the store closures will come in those two cities, and the company will record a $20.9 million US accounting charge to reflect the impaired value of those assets.
That will be followed by an additional charge of up to $30 million US that will be recorded in the fourth quarter.
The closures, which represent a small fraction of the 600-plus stores Tims has in the United States, were largely responsible for the company’s third-quarter profit falling short of analysts’ expectations.
Tim Hortons earned $73.8 million in the third quarter, or 42 cents per share – up more than 20 per cent from last year, but falling short of analysts expectations of 53 cents per share.