Facebook
X
Pinterest
Copy Link
6 Saskatoon Festivals to Keep You Busy for the Rest of the Summer
Summer is always a season of spending time with friends and family, soaking up the sun, and taking a break from the stresses of the school year. As we move into August, though, the initial excitement from the start of the season starts to wear off. We’ve settled into the routine of it all and boredom has taken hold to a point where many of us can’t wait for school to start again just so we have something to do!
Don’t let monotony get the best of you this summer. Here are 6 incredible festivals happening right here in Saskatoon to keep you and your family entertained right up until Labour Day:
The 2023 Saskatoon EX
August 8 – 13, 2023
Arguably the event of the season, the Saskatoon EX is the largest summer festival in Saskatchewan. Taking place at Prairieland Park, there is something for everyone to enjoy, including tasty treats, thrilling rides and games, and an awesome setlist of performers. Some of the highlights this year include the classic Demolition Derby on August 13th and concerts from the Arkells on August 8th, Marianas Trench on August 9th, and Dallas Smith on August 13th. Plus, many fan favourites return—including the Pig Races, Superdogs show, magicians, hypnotists, and more!
Click here for more details about the 2023 Saskatoon EX
Shakespeare on the Saskatchewan
Closes August 20th, 2023
A favourite of theatre-lovers, Shakespeare on the Saskatchewan puts on annual summer performances of Shakespeare’s works and tributes to them right on the waterfront of the North Saskatchewan River. This year’s productions include The Most Excellent and Lamentable Tragedy of Romeo + Juliet and As You Like It. The weeks are counting down on these incredible shows, so don’t miss your chance to take them in before they are gone!
Click here for more details about the 2023 Shakespeare on the Saskatchewan
Rock the River
August 18 – 20, 2023
Rock the River is one of Saskatoon’s most underrated summer festivals, taking place right outside the iconic Bessborough. It offers 3 days of awesome outdoor performances from Canadian classic rock bands. This year’s performances include Tom Cochrane on August 18th, the Crash Test Dummies on August 19th, and A Flock of Seagulls on August 20th—plus so many more!
Click here for more details about the 2023 Rock the River
The Fringe
August 3 – 12, 2023
The Saskatoon Fringe is a 10-day festival celebrating the vibrant arts community with incredible busking performances, artisan alley, carnival games, theatre activities for kids, and more. This year, you can find the festival in W.E. Graham Park and on 11th Street E, with performances taking place at The Refinery, Broadway Theatre, and Cosmopolitan Senior’s Centre. Fringe is always one of our favourite summer events in Saskatoon, and we continue to be blown away each year by all the amazing talent found right in our city.
Click here for more details about the 2023 Saskatoon Fringe Festival
Ukrainian Day in the Park
August 26th, 2023
Saskatoon is home to a large Ukrainian population and has been hosting its Ukrainian Day in the Park for over 18 years! Head out to Kiwanis Memorial Park on August 26th for a full lineup of stage performances, tasty food, activities for kids, and more. One of my personal favourites are the Ukrainian dancers—seriously…how do they jump so high?!
Click here for more details about the 2023 Ukrainian Day in the Park
Nutrien Fireworks Festival
September 1 – 2, 2023
The Nutrien Fireworks Festival is easily the best way to bid farewell to the summer before the school year starts again. Each year it brings together close to 65,000 people to celebrate in River Landing and Rotary Park with entertainers, vendors, activities, and, of course, fireworks! Their carefully curated fireworks displays synchronized to music are breathtaking and will stick with you for months to come.
Click here for more details about the 2023 Nutrien Fireworks Festival
Saskatoon is renowned for its community and culture, so why not use that to your advantage in staving off summer boredom? Discover all the fun and celebration to be found at one of these incredible summer festivals and make the most of these last few weeks!
Your Guide to Buying a Fixer-Upper
If you’ve ever been sucked into an HGTV binge watching rabbit hole, there’s a good chance you’ve toyed with the idea of buying a home that needs a little TLC. Surely if the perfectly manicured lady in the stilettos and a sundress can rehaul a graffiti-laden hovel into a cozy family home, surely you can too. However, before jumping into buying a fixer-upper, it’s important to weigh the benefits and drawbacks you can expect.
The Benefits of Buying a Fixer-Upper
Buying a fixer-upper home may seem like a daunting task, but it can also be a great investment for many reasons. Not only can it be more affordable than buying a move-in ready home, but it also allows you to customize and personalize your home to your liking. Not to mention, you’ll get the satisfaction of transforming a one run-down property into your dream home!
Lower Price Point
One of the most significant benefits of buying a fixer-upper home is the potential for a lower price. Move-in ready homes usually don’t need many repairs or updates, if any, and their market valuation will take that into consideration. Homes in need of obvious repairs or renovations will also have prices to reflect that, as well. This can help you to save a significant amount of money in the process of buying a house, making homeownership that much more attainable. You may even have the ability to negotiate an even lower price based on necessary repairs, especially when backed up with a report from a home inspector!
Customization & Personalization
When buying an existing home, customization and personalization become more limited than buying a new construction home. However, if you are buying a home already in need of significant renovations and repairs, you get to enjoy a lovely middle-ground between the two property types.
With a fixer-upper, you have the freedom to choose finishes, fixtures, and layouts along the transformation journey, without having to compromise on someone else’s design choices. This can result in a home that perfectly fits your style and needs without having to break new ground.
The Drawbacks of Buying a Fixer-Upper
Despite the attractive advantages, it is important to note that buying a fixer-upper home is not without its downsides. Most obviously, the required repairs and renovations can be time-consuming and costly. And if you are buying a home to live in, you’ll have to decide whether you want to wait and move or live in a construction zone for an extended period, which can be very stressful. You also need to consider the extent of work that is needed and whether you have the skills and resources necessary to tackle them.
If you are up for the challenge and willing to put in the work, buying a fixer-upper home can end up being more than worth it. Not only could you potentially save money in the long run, but you can also create a home uniquely tailored to your preferences and lifestyle. Plus, you may even yield a healthy return on your investment when it comes time to sell. Remember: people make a living out of just flipping houses—there must be something to it!
7 Tips for Saving Energy At Home
With the cost of living continuing to climb with inflation, many of us are looking for new ways to save on our expenses. Sure, you can cut back on the daily Starbucks visits and finally cancel that one subscription you aren’t even using. However, neither will cut down on the one bill everyone dreads each month—power.
Electricity has undoubtedly made our lives much easier but has also made them much more expensive. However, there are many ways we can save energy at home to lower that power bill and keep some extra cash in our pockets.
1. Optimize Heating & Cooling
The weather in Saskatchewan is known for the extremes—our summers are scorching, and our winters are freezing. This means we’ve all become very familiar with our homes’ heating and cooling systems. While it’s nice to step into an arctic-level A/C chill in the summer or a roasting warmth in the winter, this can also quickly become one of the most significant contributors to your monthly energy bill.
To save energy at home, set your thermostat at an efficient temperature between 21 and 25 degrees Celsius. If you can, program your thermostat to automatically adjust based on your schedule, turning it off while you are away and turning it back on just before you get home. And use natural ventilation when you can, instead of relying on air conditioning. Open windows and use the ceiling fan to cool your space rather than the whole house. Or even consider soaking in a cool summer evening breeze in your backyard oasis!
2. Prevent Temperature Loss
Did you ever accidentally leave the door open when you were younger, only to get the classic lecture from your dad about “Not heating the whole neighbourhood!”? Well, now that you’re paying the power bill, I’m sure you don’t want to be either. Bring in a home inspector to ensure your home is properly insulated from top to bottom to prevent temperature loss. Also, take time to seal any gaps and cracks around windows, doors, and vents to minimize drafts and maintain a consistent indoor temperature.
3. Save Energy on Lighting
Lighting can be another big energy consumer at home, but thankfully it can be relatively easy to fix. Use more energy-efficient light bulbs, like LED or CFL bulbs, which use far less energy than traditional incandescents. As a bonus, they tend to last longer, too!
Remember to turn off lights when not in use, and make the most of your natural light by opening curtains and blinds when possible.
4. Energy-Efficient Appliances
While replacing whole appliances can seem like an expensive way to save energy at home, the return on investment is often relatively quick. When looking for new appliances, look for those with high energy efficiency ratings and an ENERGY STAR label. Appliances consume a ton of energy, but these ones are proven to use far less to save you money in the long run.
5. Unplug Electronics When Not in Use
Many electronics continue to use power even when they are turned off. Save more energy at home by unplugging chargers, TVs, computers, and other devices when they aren’t being used. You can even simplify this process by using power strips with switches to disconnect multiple devices simultaneously.
6. Make Laundry More Energy Efficient
Use less energy at home by making your laundry more efficient. Wash clothes in cold water whenever possible and only use as much water as you need for the size of the load. Only run the washing machine—and the dishwasher, for that matter—with a full load to maximize energy efficiency.
7. Plant More Trees
Not only are trees a great way to boost your home’s curb appeal, but they are also an excellent tool for using less energy! By planting trees strategically around your home, you can provide more shade during the hot summer months and shelter from cool winter winds. This reduces your need for excessive cooling and heating throughout the year, saving you energy and money.
Though these may seem like small changes toward saving energy at home, they can add to significant savings over time. Not only does this benefit your finances, but it also has excellent environmental benefits. Plus, it can even snag more value for your home when it comes time to sell!
Choosing the Best Home Inspector
One of the most important steps in buying a home is a quality home inspection. And the key to getting a good one is finding a good home inspector in your area. However, a quick Google search could yield hundreds of results, all claiming to be “the best”—so how do you weed through them? Do you go with the first result? Surely they must be popular, right? Or do you choose the home inspector listed at the best price? Affordability isn’t always a bad thing…
There are many ways to filter through the seemingly endless list of local home inspectors. But, as experienced Saskatoon REALTORS®, trust us when we say we’ve seen our fair share. Based on our years of home inspections, some qualities we’ve learned are more important than others when it comes to a good home inspector. And when it comes to choosing the right home inspector for your real estate transaction, here’s what we recommend looking for:
Communication, Communication, Communication
While the name of the game in finding the right home is location, location, location, when it comes to a home inspector, it is all about communication, communication, communication. And, yes, it is worth the repetition.
A quality home inspector needs to be able to foster and encourage open communication to ensure you understand everything when it comes to your prospective home. They are there to educate and inform you about both the good and bad while also providing context and solutions along the way. This helps you to set realistic expectations for what you are getting into. It should also mitigate any unnecessary stress. Remember: everything can be fixed. It all depends on how much work you are willing to put in.
It is essential that you feel comfortable asking as many questions as you need to get the clearest picture before making any decisions when buying a home. You should never feel confused or left out of the conversation. A home inspection is a decision-maker in the homebuying process, and as the home buyer, you should be left feeling informed to make that decision confidently.
Knowledge
While it’s not essential to have worked in home construction before becoming a home inspector, it is essential to have a strong understanding of the home building process. Understanding codes, standards, and best practices are critical to a good home inspection since they indicate not just when things aren’t up to par now, but also how they’ll continue to look in the years to come. It also helps to inform why things are the way they are and what solutions can be implemented.
Attention to Detail
While the little things can be easy for many of us to overlook in the homebuying process, they are the exact things a home inspector should be looking for. Cracks, leaks, squeaks, drafts—these may all go unnoticed in a quick walkthrough. In a detailed home inspection, though, the time should be taken to look at every little thing that could make a big impact in your home later on.
Buying a home is one of the most important—and most expensive—decisions you will ever make. Ensure you are doing everything you can to make the best and most informed decision possible with the help of a trustworthy and experienced home inspector. Still not sure where to start? Your local real estate professional should have a few recommendations of preferred partners they trust!
Canada Foreign Home Buyers Policy and How it Affects Foreign Buyers
As a real estate team that values transparency, we want to provide you with important information about the foreign homebuyer’s policy that is now in place in Canada as of January 1, 2023. This ban aims to make homes more affordable for Canadian residents by limiting foreign investment. This ban applies to residential properties such as detached homes, semi-detached houses, rowhouse units, residential condominium units, and similar premises in census metropolitan areas or core areas. Vacant land zoned for residential or mixed-use and purchasing it for the purpose of development is unaffected.
Please remember that recreational properties like cottages, lake houses, and residential properties in municipalities with a core population of less than 10,000 are not subject to the ban. Additionally, non-Canadians can still purchase more significant buildings with multiple units.
This ban addresses the housing affordability crisis in Canada, where the average house cost is 67% more than the average Canadian household can afford. This ban is expected to create new opportunities for Canadians to purchase residential properties by opening up the supply.
However, refugee claimants, international students who meet specific criteria, and non-Canadians with a spouse or common-law partner who is a Canadian citizen, permanent resident, person registered under the Indian Act, or refugee are exempt from the ban.
Those who violate the ban can face penalties of up to $10,000 and may be required to sell the property they purchased. Anyone who knowingly assists a non-Canadian with their purchase may also face fines.
Saskatoon’s Most Popular Neighbourhoods
Looking for the most popular neighborhoods in Saskatoon? We’re happy to share our knowledge and experience to help you find the perfect place to call home!
Nutana
First up, we have Nutana. This charming and historic neighborhood boasts beautiful tree-lined streets, a mix of character homes and newer builds, and a vibrant community feel. With Broadway Avenue at its core, Nutana offers a variety of shops, restaurants, and cafes for residents to enjoy.
Riversdale
If you’re looking for a trendy and vibrant area, look no further than Riversdale. This neighborhood has undergone significant revitalization in recent years, and now offers a thriving arts scene, including the Remai Modern art museum and a variety of galleries and boutiques. And with its wide range of restaurants, bars, and cafes, Riversdale is the perfect place for foodies and night owls alike.
Downtown
For those looking for the hustle and bustle of a commercial district, downtown has it all. With a variety of shops, restaurants, and outdoor activities along the Meewasin Valley Trail, there’s always something to do in this lively neighborhood.
Stonebridge
If you prefer newer amenities, you may want to consider Stonebridge. Located in the south end of Saskatoon, this modern neighborhood offers a large shopping complex, movie theater, and a variety of parks and recreational facilities for residents to enjoy.
University Heights
Finally, for students and young professionals, University Heights is an excellent choice. Located adjacent to the University of Saskatchewan, this neighborhood offers a variety of housing options, from apartments to townhouses and single-family homes. Plus, with easy access to the university’s facilities and amenities, University Heights is the perfect place to live and learn.
No matter your preferences, our team of realtors can help you find the perfect neighborhood in Saskatoon to suit your lifestyle and budget.
So why wait? Contact us today and let’s get started!
10 Things to Watch Out for When Looking at Homes
A walk-through of a potential home you might purchase it is crucial to look at it from an objective point of view. Look over the house in detail and jot down any potential outstanding issues. Here are a few things to watch out for when looking at homes.
Check the Floors
Floors can tell a lot about a home’s structure and plumbing. Look for sagging and unusual dipping near bathrooms and everywhere else in the house. If there are warps in the floors near bathrooms, it could be a telltale sign that some gnarly plumbing might be underneath. There could be structural issues if dips are present anywhere else in the home.
Notice Cracks in the Walls and Ceilings
Cracks should be considered and carefully reviewed. Some fine line cracks in drywall are usually nothing to worry about, but larger cracks in a brick wall, for example, cause concern. Larger cracks typically are a sign of movement of the walls and are a serious sign of structural problems. I was house hunting a few years ago. There was a large crack we could put our hand in on the basement ceiling by a post, a red flag went up, and we never put an offer on that home.
Pay Attention to Fresh Paint
Fresh paint is sometimes a good sign. If the entire home has been freshly painted, the homeowners want to refresh the home before new people move in. However, if the house appears like it has never been renovated for a while and there are patches of paint in the cellar or basement, it could be hiding something, such as water damage. If fresh paint is out of place, ask why it was done.
Look for Water in the Basement or Dampness
Take extra time to investigate the basement thoroughly. Look for water damage on the floor and near windows. Dampness or humidity might also be cause for alarm in newer homes. However, if the house is older, it usually comes with the territory.
Test the Windows
Open and close every window in the home to ensure they all work correctly. I wish we had tested the windows in our current home we have lived in for 13 years, because only 2 out of 10 windows open, which makes for an expensive air conditioning bill every year. Take note of the age of the windows or if inexpensive windows were installed. Changing the windows can be costly, and not changing them out leads to a lot of heat loss, increasing your energy bill.
Assess the Roof
Ask when it was replaced last and ask to see the warranty documents. Be wary of older homes with multiple layers of shingles, which can potentially have asbestos. Ask a professional for help to assess the roof if there are any glaring issues.
Note the Trees Outside
Trees are lovely to have dotted around the yard but look closely at them. Look for how close they are to the house, how many are there, and what types they are. Trees like elms not only have a lot of dropped leaves to manage but if they ever need to be trimmed, they must be appropriately remediated to prevent Dutch elm disease. Trees close to the home can have their roots grow and push into the basement walls, leading to many problems. If there are many trees on the property, they also have a high chance of growing into your main plumbing pipes, leading to sewer backup and many other issues. Trees can also fall during heavy storms and damage your home.
Look at the Plumbing and Electrical
Electrical and plumbing are hidden. However, there should be some exposed pipes and wires in the mechanical room to help you determine the age. Look at the electrical panel and ask if the homeowner experiences electrical shorts. Be wary if the electrical system hasn’t been replaced for a few decades.
Plumbing is a lot harder to tell if there are any issues. Hire a professional to walk through the home if anything is amiss. There are home water testing kits to test the water to ensure its lead-free or if anything else is in it.
Dig into the History
Find out how long the previous owner had that home and why they are selling it. A flipped home might be hastily finished, possibly leading to oversights in the future.
If the owner is present during the viewing, ask them questions about their home. Ask about repairs and who they were done by. When were the furnace and water heater repaired or installed, and are they owned or rented? Ask about all warranties on the repairs and if any are still valid.
After the Walk-Through, Follow-up
Check on permits and violations. If you are ready to put in an offer, work on investigating any open violations or permit issues the home might have. Also, check to see if there are any neighbour complaints against the property or homeowner. This could be a sign of problems with house repairs or sensitive, problematic neighbours.
Sometimes no permits are pulled for extensions or work done on the home. Be sure to ask the sellers if all the permits are in order, if the renovations look shoddy, follow up with the permit office.
When looking at homes, these few things to watch out for will help you in your house-hunting journey. If you are unsure after finding problems with the house, follow up with the homeowner or professionals to gain more insight.
Contact your local real estate expert today to let them guide you through the home-buying process.
10 Tips When Moving With Kids
Moving is a stressful and uncertain time in your life, and it can be more so for kids, especially when they need to change schools, neighbourhoods or even countries. Informing your children about the move and following these few ideas might alleviate some stress.
Take Your Time
Allow extra time during all stages of the moving process with kids present. Tasks will take longer, and allowing spare time will help make each step less stressful. Moving and packing preparation time will also need extra time to prepare for additional events such as friends dropping by, temper tantrums, and other challenges. It might be a good idea to hire a professional moving company to allow you more time with your kids during the moving period. Not only can the moving company help transport your items, but they can also help with the packing and preparation process.
Transparent Information is Key
Inform your children about the move—don’t keep it a secret. When you know you are moving, tell your kids immediately. Tell them in an age-appropriate way and explain to them where you are moving and why you are moving, and what the new house has compared to this one. The sooner you give them specific information about the move, the sooner they can adapt to the upcoming changes. Give your kids ample time to prepare and absorb the news. Keep them aware of what’s going on during the moving process.
Making Things Concrete
When moving, please remind your children that everyone in the family is coming with them, even the pets. Also, let them know all their treasures and possessions will be moved. Explain that the changes might be challenging but will be a lot of fun. That it’s easy to visit family and friends, they miss from time to time, and video calling and other communication are still available. Describe the new home, bedrooms and fun things to do in it. Share information like what neighbourhood their new school is in, if you are moving closer to family and friends, and describe the home, schools, or the new city or country.
If your children are older, include even more details about the move, such as:
- The new address
- The name of their new school
- The neighbourhood
- The name of your and/or your spouse’s workplaces
Visit The New Home
It might not be possible to visit the new home, but seeing the city or town where you will be living in is a good idea. You can visit the new school and try fun activities to do in the area. When your kids can visualize a new life with you, it will take a lot of stress out of the move. Consider a mini vacation to the new city or country and keep things light and fun. Choose some activities that the kids will enjoy, like different parks, restaurants, and playgrounds. Finding places your kids will like in the new area will make them feel more comfortable.
Plan Fun Things
Before you move, plan to see close friends and family—this allows you to say “see you soon” instead of goodbye. Plan another time in the future when you have already moved to visit family and friends, so there is something to look forward to. When children anticipate seeing friends again, it will comfort them that time isn’t far away. Once moved in, plan for some fun things to do, such as allowing the child to pick a new toy or maybe get that new pet they have been thinking about for a while. A teen might enjoy a shopping trip to the mall in the new area.
Involve Kids in the Move
Involve the kids in the move, bring them to the homes you look at, and ask their opinions on the house and area it is in if they are old enough. Take their thoughts and desires into consideration. Let them pick their bedrooms in the home and help with decorating them. Creativity is a great way to boost their mood and get them excited to be in the new house. Before moving day, let your children help pack boxes. Helping pack their things will help make the move feel real and allow them to feel like they are a part of the process—hopefully making the transition easier.
Keep Their Favourite Items Unpacked
Comfort items like favourite toys, blankets or stuffed animals should be left unpacked. These items are essential to little ones and should be at hand to soothe them during stressful points of the move. The last thing you want is the comfort items to be packed away, and there is a melt down the day of the move.
Be Flexible
On moving day be flexible, and make the day as fun and stress-free as possible for your children. Spoil them with their favourite treats and a fun supper, like pizza. Don’t worry about this “special” day building bad habits. It’s a one-off day that won’t happen often. Toddlers can be especially challenging during moving days with all the uncertainty and strangers in their home. Let them play games or watch extra cartoons on a tablet to distract them from the things happening.
Find a Sitter on Moving Day
Having children out from underfoot during moving is crucial. Moving requires lifting heavy objects and boxes—often, large tools and machines are involved in the move, and it can be unsafe for children to be present. The best option on moving day, and even the days leading up to it, is to let them stay with a friend, have the grandparents take them for a sleepover or hire a sitter to be with your children. Doing this will help you and/or the movers do their job uninterrupted and give your kids a fun, joyous day!
Stay Positive
Not only is it best to stay positive for your mental health, but for your kids as well. Situations can be stressful while moving, and it’s essential to keep your cool. Make this a positive family adventure, and don’t sweat the small stuff.
Consider a few of these ideas about how to make your move less stressful with kids, and remember to let them be involved in every step of the process and keep them informed at all times.
If you need help moving into a new home or selling yours, contact your local REALTOR® today.
Saskatoons Best Pasta Restaurants To Try For Valentine’s
Valentine’s Day is a lovely excuse to get together with your partner for a date night or go out and eat some delicious food with friends. Here are a few fantastic locally-owned restaurants specializing in pasta dishes located in downtown Saskatoon.
La Cucina
La Cucina is a locally owned Italian restaurant that uses elevated simple ingredients. It is located in the heart of downtown. The atmosphere is modern and romantic. The food is delicious, and the servers are super friendly.
Their Valentine’s Special Set Menu is available on Saturday, Feb 11th and Tuesday, Feb 14th—priced at $125.00 a person. See menu below.
Primal
Primal is another locally-owned pasta restaurant. Pasta is handmade with heritage grains and featuring meat forward dishes made with ingredients from locally owned farms—located on 20th street near downtown. The quaint and cozy atmosphere is sure to draw anyone in. Book into this place quickly because the tables fill up fast. The servers know the menu front to back and can help you choose something perfect. The food is fantastic, and I have always had a great experience.
Their Valentine’s Menu is $80.00 a person. See menu below.
Little Grouse on the Prairie
Little Grouse on the Prairie focuses on Italian fusion cuisine and is locally owned. They pride themselves on farm-to-table, locally sourced ingredients. Located downtown on a quiet street, away from the bustle. They have a uniquely classic atmosphere with large windows for people to watch. Their food is exceptional, and I always leave feeling fulfilled.
Their Valentine’s Menu is $95.00 a person. See menu below:
If you are interested in any of these great choices. I recommend booking a table as soon as possible. If you are unable to make it for Valentine’s supper, enjoy fantastic food anytime at any of these restaurants.
Contact your local REALTOR® if you want to move closer to any of these great places!
Townhouses: Pros and Cons
The choice between a townhouse or a detached home can be confusing. Here are a few pros and cons of purchasing a townhouse and if it’s the right choice for you!
What is a Townhouse?
A townhouse is when one or more walls are shared with your neighbour but are independently owned dwellings. The units are well known for ease of living, featuring shared outside maintenance costs such as lawn care and snow removal.
What’s Better: Buying a Townhouse or a Detached Home?
Compared to detached homes, townhouses can offer a more modern look for a better price, and outside maintenance costs are pooled together with other residents, keeping the homes well maintained. Townhouses are typically built in higher-density populations, making them closer to more valuable amenities.
Whereas, in a single-family home, all the maintenance falls on the owner—which can be daunting. The detached house’s location has more impact on the cost, even if it is an older home that needs many renovations.
It is up to you which option you choose and what is best for you and your family. Ensure you also review the rules and regulations of the townhouse complex/corporation. You might discover extra condo fees, a cap on the number of inhabitants in one townhouse or pet restrictions.
How Are Townhouses Set up?
A townhouse can come in three set-ups.
1) A land trustee: only land around the unit is common ground with other owners in the complex. The owner is responsible for the unit.
2) Independent ownership: there are commonly shared property elements between the owners, like walls and backyards.
Or
3) Registered condominium corporation: The property and the building are shared responsibilities of every owner and usually come with extra condo fees.
What Features Should You Look for in a Townhouse?
The biggest perk of purchasing a townhouse is “maintenance-free living.” Ask about the townhouse agreement and any rules and regulations that it has to make sure it fits your needs as a buyer. Also, consider if the townhouse is within your budget and in your desired neighbourhood. Even if the townhouse is a brand new build, always consider getting a home inspector to verify it’s safe to purchase.
Is Buying a Townhouse a Good Investment?
Commonly, yes! Buying a townhouse is a good investment based on resale value. They hold up better value than their apartment condo counterparts. They could also be rented out reasonably quickly for extra income, with no yard maintenance required on your part. Real estate is a considerable investment, and hiring an experienced agent is essential in purchasing a property.
Tips for Purchasing a Townhouse.
Here are a few additional tips that don’t fit in with the above categories:
- Look at many options of townhouses in the areas you desire. Ask your real estate professional about the differences between the ones you view and if a townhouse or detached home is right for you and your lifestyle.
- If you are buying into a condo corporation, ensure that the reserve fund is sufficient for long-term planning. Ask for a copy of the most recent meeting minutes to gain insight into the current property maintenance, plus any additional information.
Should I Buy a Townhouse?
It depends! Buying any property is a lifelong investment, so choosing the right one can be difficult. Weigh the pros and cons of each unit you see and decide if it’s the right choice for you! Work with a trusted real estate agent to provide you with personalized advice.
