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While it's clear that the COVID-19 pandemic has shifted the Toronto real estate market into a new set of oscillating dynamics, the annual increase in activity during Toronto's infamous Fall Market is holding true. While buyers frantically compete to acquire freehold properties (consequently driving up prices), the condo market remains uncharacteristically subdued, thanks to both the fear of COVID-19 in high-density buildings and the newly-imposed Toronto policies restricting Airbnb rentals.
With new market trends arising (and oscillating weekly) in the shadow of the pandemic, the Toronto real estate market is not as predictable as it once was! Please do not hesitate to reach out about the state of the market or guidance regarding all things Real Estate!
Welcome to our September 2020 E-Promo! Here is what you will find in this month's e-newsletter:
For July, our Dear Urbaneer post is entitled, 'Dear Urbaneer: How Do I Renovate A Washroom With Resale In Mind? In this installment, Steve fields a question from clients interested in upgrading their 15-year-old washroom in their vintage loft condo without over-improving it. Here is this month's question: "We love where we live, but admittedly, the washroom in our 12-year old loft condo is showing its age. We are exploring our options in terms of updating it. While we are keen to make it fabulous for us to enjoy as homeowners, we are also thinking ahead to when we want to sell our loft. Do you have any advice on how to strike that balance between updating our washroom, while keeping our spending smart in terms of return on our real estate investment?" In addition to sharing his opinion on optimizing a washroom for resale, Steve includes his favourite tips and tricks to elevate washroom transformations - with photos from his own residences, past and present.
Next, we share our September Homewatch News blog, 'How To Have Your Toronto Property Properly Appraised'. It's always prudent to find out exactly what your home is pragmatically worth via a credible, certified property appraiser - no emotion involved. While the sum you might achieve when it comes time to will be dictated by the present market conditions (i.e. what actively-engaged well-informed motivated Buyers are willing to pay for your property at that specific moment in time relative to the supply and demand of similar properties offered for sale), understanding what your dwelling’s true asset value is - based on a data-driven process and comparative analysis - is always wise. It better helps you understand the wealth you have genuinely accumulated in your real estate investment.
The Urbaneer Team posts multiple blogs every week, where we share our love of all things real estate and Toronto!
This month, our most-read blog was, 'The Movement To Hipsteading During The Covid-19 Pandemic & Toronto Real Estate'. In light of our experiences during this pandemic, many people are processing and changing their perspective on, not only where they are living, but how they are living. And for a growing number of people - who have realized the rat race of always being five minutes late- has resulted in a movement towards seeking a simpler more honest life that can take root in the land and our immediate communities. 'Hipsteading' is a modern take on the traditional concept of homesteading; it's about getting back to 'the land', sustainability, community and the satisfaction that comes from growing or making things with your own two hands. Read all about it - and the implications for real estate - here!
The second most popular post was 'The Increased Desire For Outdoor Space In Toronto Condos During The Covid-19 Pandemic'. What's moved to the top of the property search list in light of COVID-19? Potential condominium purchasers are resisting - or expressing reticence - for the larger high-rise buildings where there are lots of residents sharing a limited number of elevators, where amenity spaces are currently closed for safety and complexes where units lack outdoor space or have small (and the higher you go, often windy) balconies. Instead, people seeking shelter are gravitating to smaller boutique buildings with fewer units, suites that are closer to ground level so one has the option of taking the stairs instead of an elevator, and locations which have less density so they can navigate more easily and with less concern of finding themselves in a crowd. So for those gearing up on their home buying journey, be cognizant of the pending value-added benefits of any of these features during our changing times!
We're proud that our post 'A Brief History On The Old & The Emerging New Dupont' was also very well-read! In it, Steve explores the evolution of Dupont Street - an arterial road long-centred on industry and manufacturing given its proximity to a long-time rail corridor traversing east-west. Over the last few years, as it's become the focus of property developers of mid-rise housing, it's being reinvented as 'The New Dupont'. Bridging the patina of its industrial roots and a history of experiences with a blossoming infrastructure and visions for the future, Dupont Street's evolution is characteristic of the gentrification of many Toronto neighbourhoods.
And - for lovers of unique urban spaces - take a peek at all of the sensational slices of Toronto real estate that we've had the pleasure and privilege of selling over the years!
Browse the September 2020 E-Newsletter here!
We LOVE Toronto real estate!
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