March Market Recap: “March Market Recap: Listing Supply Spurs Buyer Competition.” If you haven’t checked out our latest market report, click here!
What’s On in Toronto This April
5 Fun Facts You Didn’t Know About Toronto
As Canada’s biggest city and the fourth-largest in North America, Toronto is a thriving metropolis with a flourishing downtown and a population of more than 5 million in the GTA.
The city’s unique integration of neighborhoods, green space and business make it a model studied by city planners everywhere. What’s more, it’s home to over 130 languages and more than 8,000 restaurants.
Check out these five interesting facts about this intriguing city:
Livability: Since 2011, Toronto has ranked fourth among cities worldwide in The Economist’s annual Livability Survey. With three universities, multiple galleries and museums, the world’s third-largest English-speaking live theatre, and a multitude of cultural events to attend, Torontonians are happy residents.
Housing: Toronto has it all: condos, attached and single-family homes, mansions, and rentals. Still, with a vacancy rate of under 2 percent, affordable housing is hard to find.
Accessibility: Buses, streetcars, and a subway create North America’s third-largest public transit system, making commuting easy and affordable.
Island living: Homes on the Toronto islands are highly prized and just a short ferry ride from the lakeshore. But you can’t buy land on the islands. Instead, potential buyers are waitlisted, and when a home becomes available, each name, in turn, receives an offer. If a buyer accepts, they lease the land and buy the house. It can take years to make the dream of an island home a reality.
Diversity: Toronto boasts a plethora of ethnic neighbourhoods and is considered one of the most multicultural cities in the world. In many areas, street signs are bilingual and authentic ethnic restaurants draw patrons from far and wide.
Modern Homes Are Getting Smarter by the Second
Innovative technology is transforming the real estate marketplace. As they design and select homes, today’s buyers are weighing options that were nonexistent for homeowners 20 years ago. Modern houses, enhanced with smart technology, have become more than rooms and walls. They are integrated systems of efficiency, entertainment, and security, designed to cater to a high-tech lifestyle.
These technological advances are adding value to homes in creative ways.
Convenience: Control centres allow owners to manage almost everything in the home remotely. They can turn up the heat, turn on the lights, or turn off the television from around the globe. With remote access, homeowners no longer have to worry about misplaced or stolen keys. They can even grant entry to others while they are away from home.
Security: Wireless technology and video surveillance options have transformed home security. Systems can be added without drilling holes and hiding wires. Cameras and video technology allow personal, remote observation of the home inside and out. In addition to securing their home against crime, owners can check on Fido, confirm a package delivery, or enjoy peace of mind that the kids arrived safely home from school.
Efficiency: Smart technology can provide greater efficiency for utilities, which can provide significant savings over the years. Improved temperature control technology, remote access to thermostats, and better utility sensors can create a highly efficient home.
Linkage: The internet of things has added multiple new features to homes. Homeowners can link smart appliances, security systems, and more to connect every facet of their lives. The connectivity a home offers can boost its value to plugged-in buyers who are seeking modern networking capabilities.
These smart technologies are becoming more affordable and more accessible. It’s likely that more and more buyers can expect to find high-tech options listed among standard home features.
If you’re considering a smart upgrade to your home, reach out to our office so you can get the best information to determine which innovations make the most sense for your market.
Ask an Expert a.k.a. Us!
Should I do a final walkthrough?
Your contract may or may not require this step. Even if it’s not a requirement, it is highly recommended that you complete this vital part of the home-buying process.
A final walkthrough gives you the opportunity to view the home just before the closing (often the day before or the day of the closing). The walkthrough lets you confirm that the property is in the condition you expected, with no significant changes since your initial viewing.
You can check to see that all items that are left for you are still in the home, such as appliances. If the sellers agreed to make repairs based on home inspection requests, you could verify these as well.
Typically, your real estate agent will arrange for this walkthrough and escort you during this final inspection. If you discover any issues, you should immediately notify your real estate agent, who can advise you on the next steps to resolve concerns.