🏙️ 13th Sep 2024 - GTA Condo Sales are down!

💥 Friday 13th September 2024 💥 Toronto Real Estate Fixer Upper - Myths & Facts! Hot Market Watch: Greater Toronto News! "Stay Ahead in Real Estate: Free Reports & Premier Listings!" "Hot Market Watch: Greater Toronto News" delivers timely updates on the latest developments, trends, and insights from the GTA's thriving real estate market. Whether you're a buyer, seller, or investor, stay ahead with expert analysis, new listings, and breaking news. Discover what's heating up in the market today! Are There Prevalent Myths Regarding DIY Renovation Skills and Costs Versus Hiring Professional Contractors for Fixer Upper Projects? Yes, there are several prevalent myths regarding DIY renovation skills and costs versus hiring professional contractors for fixer-upper projects. These myths can lead homeowners to either underestimate the complexity and costs of DIY renovations or misjudge the value of hiring professionals. Here are the most common misconceptions: 1. Myth: DIY Renovations Are Always Cheaper Reality: While DIY projects can save money in certain areas, they can also lead to costly mistakes if the homeowner lacks proper skills or experience. Materials can be wasted due to improper use, or the work may need to be redone by a professional, increasing the overall cost. Example: Misjudging the complexity of electrical or plumbing work can lead to expensive repairs, code violations, or even safety hazards. Fixing a poorly done renovation can sometimes cost more than hiring a contractor from the start. 2. Myth: Watching Tutorials Equals Skill Reality: Many homeowners believe that watching online tutorials or TV shows is enough to gain the skills needed for complex renovations. However, there is often a significant difference between understanding a concept and being able to execute it properly. Example: A YouTube video may explain how to install tiles, but if you lack hands-on experience, the result may be uneven surfaces, poor grouting, or misaligned tiles, reducing the aesthetic value and resale potential of the home. 3. Myth: DIY Projects Increase Property Value Automatically Reality: DIY renovations do not always guarantee an increase in property value, especially if they’re not done to a professional standard. Poor-quality work can detract from the overall appeal of a home and may even lower its market value. Example: A DIY bathroom renovation with poorly installed fixtures or unfinished surfaces could be a red flag for potential buyers and home inspectors, causing them to devalue the home or require repairs before purchase. 4. Myth: All Contractors Are Too Expensive Reality: While hiring contractors may have an upfront cost, they often save homeowners money in the long run by providing high-quality work, ensuring compliance with local building codes, and minimizing the need for future repairs. Many professionals also have access to wholesale materials, saving on material costs. Example: Contractors often have relationships with suppliers and can get discounts on materials that are not available to the public. In addition, a contractor’s work typically comes with a warranty, providing peace of mind. 5. Myth: DIY Work Can Be Done Faster Reality: Homeowners often underestimate the time required to complete a renovation, leading to delays and incomplete projects. Professionals, on the other hand, can often complete the same work more efficiently due to experience and the ability to coordinate multiple tasks simultaneously. Example: A homeowner might think they can install new flooring over a weekend, but unexpected issues (like subfloor damage) could extend the project for weeks. A contractor would anticipate these issues and finish the job within a planned timeframe. 6. Myth: You Only Need Permits for Big Renovations Reality: Some DIYers believe that permits are only necessary for major construction projects. However, even small renovations like electrical rewiring, adding windows, or changing plumbing may require permits and inspections. Failing to get the proper permits can lead to fines or complications when selling the home. Example: If a homeowner adds a deck without the proper permit and it doesn’t meet safety standards, they may be required to tear it down or face hefty fines. A professional contractor would know which permits are required and ensure the work is up to code. 7. Myth: DIY Projects Are Always More Rewarding Reality: While many homeowners find satisfaction in completing DIY projects, the stress, frustration, and potential mistakes that come with tackling a renovation on your own can overshadow the sense of accomplishment. For complex tasks, the expertise of a professional can lead to a more satisfying and stress-free experience. Example: Installing kitchen cabinets may seem like a rewarding challenge, but if they are not perfectly level, the frustration of redoing the work or living with imperfections may outweigh the satisfaction of completing the project. 8. Myth: It’s Easy to Source High-Quality Materials Reality: Professionals have access to a wider range of high-quality materials and know how to source them at better prices. Homeowners may end up purchasing lower-quality materials at retail prices, which may not last as long or provide the desired results. Example: A contractor might source custom cabinets from a specialized supplier, while a homeowner might only have access to pre-fabricated options from big-box stores, limiting customization and longevity. 9. Myth: Any DIY Project Adds Character Reality: While personal touches can add charm, poorly executed DIY projects can detract from the overall appeal of a home. Buyers may see DIY renovations as problematic if they believe the work was done without proper expertise. Example: Custom-built shelves that aren’t level or painting jobs with visible brush strokes may seem charming to the homeowner, but buyers may view them as defects that need to be corrected. Conclusion: While DIY projects can offer a sense of achievement and savings for homeowners, they come with a number of risks and potential misconceptions. For major renovations or tasks requiring specialized skills, it’s often best to consult or hire a professional contractor to avoid long-term complications, costly repairs, and potential safety hazards. Homeowners should carefully weigh the pros and cons of DIY versus professional work based on their skill level, budget, and the complexity of the project. GTA condo sales are down: Here's what a TD Bank economist says about the reasons behind the slump Condo prices are down and sales overall are down. toronto.com Read More ... How Does Rent To Own Work In Ontario Canada | Brokerlink Explore how the rent-to-own process works in Ontario, Canada. Get detailed insights on the benefits, requirements, and legalities with Brokerlink. brokerlink.ca Read More ... Senior lost home to fraudsters who took $374K, Brantford police say | CBC News Four people have been charged, police say, after a Brantford senior lost her home to fraudsters who took $374,000. cbc.ca Read More ... Why can’t Canada build more homes?: Daniel Dorman in National Newswatch | Macdonald-Laurier Institute The housing crisis in Canada is going from bad to worse. macdonaldlaurier.ca Read More ... Bank of Canada Cuts Rates a Third Time – Is Now a Good Time to Buy a Home? A look at the pros and cons of purchasing today vs. waiting. morningstar.ca Read More ... 5 most expensive homes in Brampton all sell under asking in August | inBrampton The five most expensive homes in Brampton all sold under-asking last month. It falls in line with a wider trend in the Greater Toronto Area housing market, with a report indicating that 70 per cent of homes in the region sold for less than their list price in August. The Toronto Regional Real Estate Board […] insauga.com Read More ... Are condos still a good investment? In a soft condo market, investors are learning to adapt and develop new strategies While Toronto’s once red-hot condominium investment market has slowed down to a gentle simmer with no prospects things will improve any time soon, opportunities do still exist. Ryan Coyle, co-founder of Toronto-based Connect.ca Realty, a real estate brokerage that specializes in investment strategies, says buyers have more leverage today than they have for much of... msn.com Read More ... London mortgage delinquencies double, more headwinds loom The number of Londoners behind on their mortgage payments has doubled in the the past two years, a new report says lfpress.com Read More ... Will a rate cut spur further building boom in Windsor? Maybe The latest interest rate cut may not open the floodgates of construction in Windsor-Essex, according to the area’s home builders’ association. windsor.ctvnews.ca Read More ... Canadian Real Estate Fueling Productivity Crisis, Quality of Life To Erode: TD - Better Dwelling Canada’s economy went from struggling with productivity growth to an all-out crisis. That’s the take from TD this morning, who warns the productivity crisis is worsening. Skewed incentives have reallocated productive investment to non-productive areas, now consuming a larger share of the economy. If this persists, the bank warns that Canada will see further erosion […] betterdwelling.com Read More ... Realtor fined by B.C. regulator after property photos digitally altered A British Columbia Realtor has been fined thousands of dollars after a property listing was found to contain photos that were digitally altered to hide peeling paint and show furnishings that did not exist. bc.ctvnews.ca Read More ... August Realty: More Durham homes selling for under-asking - Durham Post In August, only 13 per cent of Durham neighbourhoods were in overbidding territory, down from 27 per cent in July and 52 per cent in June. durhampost.ca Read More ... Here's what to expect for the fall housing market in Mississauga and Brampton | INsauga Real estate brokerages have released there fall 2024 predictions. insauga.com Read More ... Calgary's annual rental prices decrease — slightly — for first time in more than 3 years | CBC News Last month, asking rents in Calgary were down 1.1 per cent for one bedroom apartments and 2.6 per cent for two bedrooms compared to last year — the first decrease reported by Rentals.ca since February 2021. cbc.ca Read More ... One-bedroom rental prices soaring in Winnipeg: report According to the latest report on Zumper.com, the average rent for a one-bedroom suite in Winnipeg is $1,480 – a 22.30% increase from 2023. The report said it’s the largest jump in Canada for the third consecutive month. winnipeg.ctvnews.ca Read More ... Apartment rent nearly 10% less than it was a year ago in Brampton: report | inBrampton One-bedroom apartments are renting for nearly 10 per cent less than they were a year ago in Brampton, but that price is still slightly higher than the national average according to a new report. insauga.com Read More ... House of the Week: $4.3 million for a quirky detached near Yonge and Eglinton that was won in a lottery - Toronto Life 1,077,815 Torontonians can’t be wrong. torontolife.com Read More ... CMI Financial reaches $1bn milestone in private mortgage lending Alternative mortgage lending boom fuels growth for nonbank mpamag.com Read More ... Canadian Real Estate Fueling Productivity Crisis, Quality of Life To Erode: TD - Better Dwelling Canada’s economy went from struggling with productivity growth to an all-out crisis. That’s the take from TD this morning, who warns the productivity crisis is worsening. Skewed incentives have reallocated productive investment to non-productive areas, now consuming a larger share of the economy. If this persists, the bank warns that Canada will see further erosion […] betterdwelling.com Read More ... Are prospects improving for first-time homebuyers in Canada? Rate cuts are sparking hopes – and that could mean new business for brokers mpamag.com Read More ... Editor's Note "Welcome to my Newsletter Page! I am a professional Real Estate Agent in Toronto GTA with an Architectural background from India. With a unique combination of design and real estate knowledge, I am dedicated to helping clients find their dream home. My expertise in both fields allows me to understand the potential of a property and how to best showcase it to potential buyers. I am committed to providing excellent service and going above and beyond for my clients. Let me help you navigate the real estate market and find your perfect property in the Greater Toronto Area & Surroundings. Contact me today!" Click Here For Hot New Toronto Regional Real Estate Board [TRREB] MLS® Listings. Call | Email me for more Info on any GTA Listings, Buying, Selling, Investing or Homebuyer's queries. Click Here to View Listings like Real Estate Agents. Click Here For HOMES & CONDOS In Toronto. Click Here For PRE-SALE CONDOS in Toronto. How does Rent-To-Own Homes works? Click Here for Power of Sale Listings. Manoj Atri, REALTOR®  Experienced Toronto GTA Sales Representative with Architectural Background. My forte: Power of Sale | Bank Foreclosures | Fixer-Upper | Rent-To-Own Homes All types of Credits Low or Zero down With Bank Cash-Back + Cash For Renovations Info & Much More... 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