Stressed out over competition

With all the competition going on, my pick today is the building lot.  Buyers get so discouraged with multiple offer so I want to talk about building a home because often times people feel it would be easier.   It's romantic, building your dream home, having a good size lot and not compete for it, WIN WIN!  Building a home comes with it's own challenges.    First off, getting a mortgage on vacant land is not straight forward, you'll need Architectural design in place with an approval from the municipality so a lender will look at you.  The lender will give you construction loans in order to pay the builder in phases.  You'll need to service the lot, (well, septic, hydro etc) Once the project is complete you'll have it appraised to put a final mortgage on it.  If you've done your research and worked with a good agent to help maximize the value of the lot, the lender should see a similar value you had planned for.  So now you have a brand new home, no work needed at all.  WOOT WOOT!  Oh wait...landscaping, decks, fences, sheds, pools, driveway, etc.  The list goes on an on, I say this because stress is inevitable and purchasing a home your largest transaction so interview agents. So often people pick the first agent they meet at an open house or talk to over the phone.   If you want to find out how to qualify an agent, DM me and I’ll send you a list of questions.

4 Bedrooms + Court + Park = Good Opportunity

This is a nice south end home with 4 bedrooms, a court location, double garage and it backs onto the park. I would say that checks a lot of boxes for a lot of families. It is also listed for $709,000 and they aren’t holding offers, which means there MAY be some room to negotiate! With townhomes selling in $500-$600K+ range, this well priced home won’t last. Listed by ReMax Real Estate Centre Inc

there are always options

There is a nice little list today to view but I want to focus on 14 Kensington because I feel this could make a great home for a retiree or first time buyer. The lot and area are awesome, along with the updates they have done. As a first time buyer, it's very tough these days to get into the market so the importance of income potential is critical. If I were buying my first home I would have the basement registered as an apartment, rent it out for many years and possibly keep this as my long term home because of the 1 floor living into my Golden Years. As a first time buyer you're building equity and eventually have the option to either take over the whole house or rent the home out and buy another place, building a real estate portfolio. If you decide to rent the whole place and buy another home to live in your down payment commitment is smaller because you're buying your primary residence.

As a retiree our real estate prices are so high to downsize, move to something decent and have a bunch of money left over to live it up!! It has almost become a lateral move these days in Guelph so the days of cashing out are no longer common. If you're open to renting out the basement as a retiree, you're having someone else help fund your retirement while you're golfing in Florida and why not have one of your kids deal with the tenant. This home is listed by ReMax Real Estate Centre Inc

Cute as a button - 55 Harris

This cute 1.5 storey beauty sits on a great 50x127ft lot in a family friend area in St. Patrick’s Ward. We have friends that once lived on Harris St and they still talk about this neighbourhood and how much they miss it. This home has seen many updates and you can rest easy as this place has had a pre-inspection which was complete by a fantastic team of structure engineers. The inspection will be thorough and detailed so if you have any concerns ask to see it. This home is listed by our co-worker Beth Brombal at Home Group Realty.

Downtown Jewel! 28 Suffolk St W

We were fortunate to preview this gorgeous bungalow yesterday during final preparations. This home feels so spacious with 9. 5’ ceiling and larger rooms than you would expect at this age. If this is on your “maybe” list, I would move it up quickly because I don’t expect this to last. If you’re a downsizer, single, young couple or even a couple with one child this is a great place. If schools are a concern you are in a draw to some of Guelph best! This home is listed by my co-worker Jo-Anne at Home Group Realty! For more details Click HERE

Favourite Daily Listing - 14 Maplewood

Old University Gem

There's a new home at 14 Maplewood which would be a great purchase for a family that's willing to do some updates. I know first hand renovations can add up very quickly and your cost can get away from you just by saying "while we're under renovations, we may as well do this too and that…and maybe that too..." If you're a patient person and can chip away at the renovation, you will be so happy with this neighbourhood, schools, parks and ultimately your return on investment on this home. This home is listed with Royal Lepage

Deer in your Backyard!

Check out today’s Favourite Daily Listing 64-165 Terraview Cres. It has 3 bedrooms, 2.5 baths hardwood and a walkout basement that backs onto greenspace. That’s right, you can see these cute little guys from your back porch! Check out the rest of the listings today and every other day by signing up to Guelph Daily Listings!

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Favourite Daily Listing - 8 Christopher Crt

It's no surprise that after yesterday's storm, today is a slow one in real estate. Since a lot of people were forced to stay indoors and spend many hours together, you may see some smaller homes hitting the market from those feeling the squeeze!!

Today's list includes a great opportunity for anyone looking for a condo. 8 Christopher Crt is over 1200 sqft and with a little updating, could be a fantastic place to call home. It has a central location, parking and is in a quiet building. Definitely one to consider. Listed by Royal LePage Royal City Realty

Favourite Daily Listing - 130 Oxford St

Our pick of the day is a massive project, but 130 Oxford St could one day be your dream home. This home is going to need either a bulldozer or a ton of work, but with an 88 x 108 lot, the opportunity to sever is huge! Definitely a hot area and a great opportunity, so it's no wonder that they are holding offers on it. Definitely one to consider. Listed by Trilliumwest.