Freehold or Condo Townhouse

May 29, 2014 By Diane Mageau 1 Comment

FREEHOLD OR CONDOMINIUM TOWNHOUSE, WHICH SHOULD I BUY?

Here is a list of a few points to consider which type of ownership suits you best.

Advantages of owning a Freehold townhouse:

No condo fees.
No rules or regulations to adhere to.
I can make changes to the exterior as I want, e.g. paint or style of door and windows.
I can park whatever vehicle I want in my driveway as long as I adhere to municipal regulations.
I can landscape my front yard in any way I want and I might choose the natural look?
If I buy my townhouse new, by the time major repairs are needed I can sell and move on and let the new owner pay for all the repairs that are coming up.

Disadvantage of owning a Freehold townhouse:

You might be buying in just when all the major costs start, roof shingles, windows, A/C, furnace, doors & driveways to name a few. If regular maintenance has not been done to your unit and given some of the materials used by some builders the expensive replacements can start as early as year 10.
You or your neighbor can paint the exterior of his townhouse, front door, trim & garage door any colour he wants? How does purple sound to you, or maybe pepto bismol pink? One persons dream is another’s nightmare. Or he may not bother to repaint when the paint starts peeling.
When your home is attached in a row of townhouses, the example of a partially disassembled vehicle in your neighbors’ driveway or any lack of maintenance issues will reflect and affect the value of your property; no matter how well you care for your own unit.
The fence between units is falling down and your neighbor does not want to share in the expense of replacing it? This same scenario can happen in a freehold detached home but not in a condominium. Typically in condominiums fencing and exterior maintenance are the condo corporations’ responsibility.
Your unit is attached to an adjoining unit and the roof shingles need replacement, you are prepared to do this repair but your neighbor is not?

Check in to view next segment on “Condominium Townhouses Pros and Cons”.

What makes a public open house a successful experience?

May 22, 2014 By Diane Mageau Leave a Comment

Remember access to a public open house is a privilege!

When visiting a public open house do be respectful of the home owner, the property and the agent hosting the open house. Do not be surprised if the agent hosting the open house asks you for your name, contact information and whether or not you are working with a realtor. The agent is responsible for the safety of the home and its contents, he or she has a right to know whom they are allowing through the property. If for any reason you absolutely do not want the sales representative to contact you following the open house please advise him or her of this and make sure they note your preference on their guest list.

Consider this, if this was your home being shown at a public open house, would you not want your real estate sales representative to be equally diligent and responsible in protecting your property?

Visiting open houses can give you a quick start in getting to recognize property values for a specific neighborhood. It is also an excellent way to meet a realtor that you may enjoy working with, someone who can assist you to sell your existing home or find a new home.

For the sales representative an open house is an excellent way to help her/him promote a listing to the general public, something which is important in any market. The open house just might attract a buyer who otherwise would not have seen this property. Perhaps the agent you are currently working with is not aware of all the benefits of the specific listing on open house. Or perhaps your agent may know about this listing but it does not fit within the original guidelines you had given her/him regarding the type of home and location you had specified. Either way, this might be a house that you would have missed if not for the open house. And yes, in anticipation of the next question “I have sold a listed house at or immediately following a public open house.”

I personally also consider open houses an ideal time to conduct a series of mini job interviews. Not only does it give you a chance to briefly interview me, it also gives me an opportunity to meet you. Often times we know very quickly whether or not we are comfortable with a new person we meet. If at an open house we feel that we can communicate well with each other than a further more private meeting can be scheduled to address your specific real estate needs.

Looking forward to meeting you at one of my open houses or by appointment!

Diane Mageau

Spring real estate market 2014: My opinion

April 24, 2014 By Diane Mageau Leave a Comment

We have all heard many varying reports about the real estate market, here are my observations.

First I think it very wise for Hamilton, Burlington and Oakville residents to not base their decisions regarding real estate market conditions solely on what they are hearing on the news for Toronto real estate. Our markets though similar are very different. Pricing is the first obvious difference. Another significant difference is the process. It is not uncommon for some areas of Toronto to see competing offers for properties. For the greater Toronto area bidding wars where buyers are paying large sums of money over the asking price happen quite frequently. Although this does happen here at times, it is not as common place as in the Toronto area. Their inventory of available properties is also vastly different.

The biggest impact on our real estate market this year has been “weather“. It has been my experience that when there is a cold winter and delayed spring our real estate market is slow. I recall one particularly mild winter when spring seemed to appear in February. For that particular year our spring market pace started in February and had pretty well run its busiest course by the beginning of May. This year is very different, I don`t believe we have yet to see the full surge of spring market conditions. Supply and demand does drive our market but for some areas such as Burlington, the supply of new listings is further depleted by the lack of further development space. There are hints of spring being close I can see buds on the trees. I believe our spring market is about to really gain momentum. So if a first home or a change of home are in your plans this year, get ready the time to make your move is just around the corner. Contact me

Why Choose Diane Mageau

April 11, 2014 By Diane Mageau Leave a Comment

I take great pride and responsibility in preparing my buyers, sellers and their homes for the real estate market. If you are buying for the 1st time I will prepare you for the process and do my best to make this an exciting, pleasant and fun experience.

If you are selling your existing home, I will “stage it” for you. Our mutual goal is to realize the best possible return on the sale of your home.This is a service I have done for my sellers long before a specific industry term was introduced to the public. We can usually do a successful staging by utilizing the items you already have in your home along with the props I bring from my own home. Trust me, it does make a difference.

For SENIORS, the task of making a move to any other home may seem overwhelming. I believe too many seniors stay isolated in a home that is no longer manageable or safe for them only because the process to make the change appears to be a monstrous and insurmountable task. If you want to talk about making a change and don’t know where to start, call me I will be your guide. I have helped my own parents and several other seniors through this process.