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June 16th, 2019 
Heather Fuller
Broker, CRA

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Working with buyers to find the perfect home to match their needs is a daunting task these days.  In the current market, where houses sell quickly, we devote all our energy and resources to ensure that our clients hear about every available property. Aided by the TorontoMLS system, we search new listings several times each day to find those that meet the criteria of location, price range, family room, parking spaces, number of bedrooms and bathrooms. These are the "hard" facts. Then we inspect the most suitable properties to see whether or not they meet the "soft" needs of our clients.


Today's buyers are very discriminating when it comes to finding a new home, and have definite ideas about the features it should have. Many want Athe works@, and that often means a main floor family room and powder room, finished basement, and a garage or parking for at least two  cars. Buyers are enticed by state-of-the-art kitchens with stainless steel appliances and sleek granite countertops, marble foyers and good flow for entertaining, traditional architectural details and ceiling mouldings, halogen pot lights and thermal windows, a fully finished basement, preferably with an additional bedroom and ensuite for the teenager or nanny, recently updated heating, cooling and electrical systems, and professional landscaping and curb appeal.


Under current market conditions, buyers may have more opportunities if they are willing to consider a home that lacks these amenities and to fix it up over time, since it takes a special buyer who has the time and inclination to live through renovations. Even in the most desirable neighbourhoods, older homes that have not been updated within the past twenty years take longer to sell on average. Why pass up a smaller semidetached home with old broadloom, an "original" kitchen, one 3-piece bathroom, and a low unfinished basement? All you need is your imagination, and a little time and money.


Of course, you can have anything you want -- for a price. To give you an idea of the cost of buying a home with all the extra features, here are some premiums buyers are paying for a typical North Toronto house.

 Main floor family room $50,000 
 Extra washroom $45,000 
 Extra bedroom $35,000 
 Renovated kitchen $25,000 

The best advice we can give our buyers is "Whether you like traditional or fun and funky, buy the best location you can afford. You can always renovate in the future."




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