Home Ownership


Buying a home can be one of the largest financial investments you’ll make in your lifetime. If you’re a home buyer, particularly a first-time buyer, being informed makes the process easier with much less stress. By educating yourself on the home buying process and seeking out the sound advice of a REALTOR®, you’ll save time, energy, and money.

In order to assist you with your home purchase I have prepared an in depth guide on the important steps to consider when you set out on your home buying journey. Perhaps you are a first time buyer; or maybe it’s been a long time since you bought a home and need a refresher on changes in the industry since you last bought. Whatever your situation is my guide is sure to ease the process from beginning to end. To receive you free guide just email me at cshaw@cynthiashaw.ca with your name address phone number and email or feel free to give me a call at 416-436-1086 and I will make arrangements to get your guide out to you immediately.

The number of home sales through the TorontoMLS system and the average selling price were up strongly in May compared to a year ago.

Total TorontoMLS sales for May 2014 amounted to 11,079 – a new high for the month of May. This result was up by 11.4 per cent compared to 9,946 sales reported in May 2013. The average selling price for these sales was $585,204, representing an 8.3 per cent year-over-year increase compared to the average price of $540,544 in May 2013.

We are now at the peak of the spring market when we generally see the greatest number of sales and the highest average selling prices. Based on the May statistics, buyers have been more active this spring compared to last year. Despite strong price growth so far in 2014, many households remain comfortable with the monthly mortgage payments associated with the purchase of a home, as borrowing costs have remained at or near record lows over the past few months.

Average selling prices varied across the Greater Toronto Area, depending on geography and home type. A detached home in the City of Toronto sold, on average, for $943,055. In the surrounding GTA regions, the average detached price was $648,439. The average price for condominium apartments was $401,809 in the City of Toronto and $307,307 in the surrounding regions.

The listings situation in the GTA did not improve this past May. With listings down and sales up compared to last year, competition between buyers increased. The result was price growth wellabove the rate of inflation, especially for singles, semis and townhomes.

It is also important to point out that even though the condo apartment market segment remains comparatively well-supplied, as new project completions have generally led to an uptick in listings, we have seen enough buyer interest to prompt strong condo price growth as well.

Person turning off the lights

Small actions can go a long way in help you manage energy use!

Winter is pretty much here and with it are the cold temperatures and high energy bills. With the following winter energy saving tips, you can help manage and reduce your electricity and natural gas use. “Small actions can go a long way in helping Ontario families manage electricity use and cut energy costs. It’s important to remember that the least expensive type of energy is the energy we don’t use. Conservation is an important part of the government’s plan to lower greenhouse gas emissions and transition to a clean, reliable modern electricity system.” says Chris Bentley, Minister of Energy.

  1. Install a programmable thermostat, so you can lower your heat when sleeping or when not home
  2. Eliminate drafts around doors, windows with weatherstrips
  3. Have your furnace filter changed monthly and inspected each season
  4. Run your dishwasher, washer and dryer in the early morning, evening or weekends
  5. Unplug any electronic device not used, or turn off the power bar
  6. Keep the closet and crawlspace doors closed to keep the heat in
  7. Use energy efficient light bulbs (CFLs, LEDs)
  8. During the day, let the sun shine in and warm up the space
  9. Clean the dust off your fridge coils in the back
  10. Repair any leaky faucets

During the week (Monday to Friday) energy prices peak twice: in the early morning and in the evening mainly due to space heating, plus increased lighting and appliance use. During the weekends and holidays the demand is lower. Here are the current rates per kilowatt hour (since May 1, 2012):

Off-peak (7 pm – 7 am) 6.3 cents
Mid-peak (11 am – 5 pm) 9.9 cents
On-peak (7 am – 11 am, 5 pm – 7 pm) 11.8 cents

Following these energy conservations tips will not only benefits your bottom line, but also helps build a cleaner energy system in Ontario and reduces environmental impact by lowering emissions of greenhouse gases. For more information or to learn more about energy conservations, visit saveONenergy.ca.

 

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