This video is for Canadians looking to buy their first investment property but do not know where to start.
In this video I will outline all of the people you need throughout the purchasing cycle of a new home/investment property and how they can help out! As I focus on the Greater Toronto Area, that will be my primary example, however this applies for investing anywhere in Canada.
I hope you enjoy the video! Feel free to comment below with any questions, or if you would be interested in getting my help to find you an investment property in Toronto, reach out to [email protected].
Rebecca Young, Sales Representative
Revolution Realty, Brokerage

Prepare ahead to get the most out of your HHT
 
Relocation is a fact of life when you join the CAF and can be an exciting part of your career. However, despite advances in digital technology, finding a new home in a different location can be stressful, particularly if you’re moving out-of-province or hours away from your current residence.
 
Unlike civilian home shoppers, your timeline to find a new home is limited to a few days, not weeks or months. If you do not prepare enough in advance of your House Hunting Tour (HHT), it could be a flop. My advice is simple, avoid disappointment by planning ahead as much as possible. To help, I developed some easy to follow steps which you can use as an action plan. Keep it handy as you work toward your final goal – finding a suitable location and home at the right price does not have to be complex. When your realtor has a solid understanding of your wants and needs, they will be able to act swiftly on your behalf.
 
Step one: Get pre-qualified for a mortgage 
This is the most important steps in the entire process. Why? It means you can shop comfortably.
Knowing exactly what you can afford to buy well in advance of your home search will keep you on the right track and eliminate reviewing properties that you can’t afford. Since it will take a few days to get your pre-approval in place, be sure you check in with your mortgage broker or financial institution to see what is required as soon as possible. Yes, there’s some boring paperwork involved, but it’s well worth the effort to do this beforehand. Don’t run the risk finding the right home at the wrong price, or worse, underestimating what you can afford and buying something that doesn’t suit your needs.  Your realtor will be able to start sending you realistic selections to review online as soon as this step is completed.
 
Step two: Identify a selection of preferred locations
Now it’s time to narrow the playing field – yes, it’s all about location, location, location. If you have preferences as to boundaries or streets, tell your realtor. Conducting your own neighbourhood research is always a good idea, as location is a personal choice. A knowledgeable realtor should know what neighbourhoods match your criteria best. But if you have very particular boundaries or areas you want to live in, write them down, prioritize your favourites and share them with your realtor. Considerations such as schools, shopping, transit etc., should be taken into account, and think about your future needs too. Everyone is different. Work with your realtor to decide which neighbourhoods you want to focus on and which ones are off limits before the search process begins. You’ll save a ton of time.
 
Step three: Know what you want
Finally! It’s time to get into the fun stuff. 
Now that you and your realtor understand your price and location needs, you will need to think about what kind of home you’re looking for. Check out what kind of housing is available in and around the areas you want to live by checking out realtor.ca. There will often be photos, videos and descriptions of the homes for you to review. It’s a great way to take a peek inside before your visit. Now that you have a better idea of what’s available, decide what type of home you want, including all of your must-have options, not just one or two items.
Start with the basics such as:
• Housing type: detached, two-storey or bungalow, condo, townhome, semi-detached.
• General lot size and number of bedrooms and bathrooms 
• Features: air conditioning, finished basement, ensuite bathrooms, parking needs, garage needs, backyard space etc. Prioritize these into a “must-have” list and a “nice to have” list.
• Decide if you are willing to renovate, and if your preference is a newer home or an older home. What are your design preferences? Are you looking for modern finishes, or are you more of a traditionalist? Again, your realtor will want to know all of these details well in advance so they can start emailing you more detailed listings, including exclusive listings not found online, as soon as possible.
 
Step four: Getting ready for your HHT 
You’ve done your homework, now it’s time for the realtor to work their magic. They should be gathering and sending you as many properties as possible and asking for your feedback as to whether or not you’re interested. A good realtor will send you properties that don’t always fit your full criteria, but always match your essential list of most important needs, but it’s up to you to decide if they make your final list or not. 
 
Step five: On the tour
Ideally, you’ll get to see all the homes you’ve been dreaming of, but I recommend viewing only five or six homes per day. Any more than that will be confusing and overwhelming.
In the case of a condo, if there are multiple units in one building to view, you can definitely pack in more tours. I also suggest you wear comfortable clothing and shoes that you can easily slide on and off. There will be lots of driving on tour day so pack a snack. Have your wish lists handy, and get ready for an intense but exciting day of house hunting and touring your new community. 

Thanks for reading and best of luck with your housing hunting tour.
 
Jonathan Schwarz has been practicing real estate for 14 years. The broker of record for Revolution Realty in Toronto, Jonathan and his team assists in the relocation of CF personnel within the Greater Toronto Area. He can be reached at 416-738-2272 or at [email protected]. 

Revolution Realty’s Heroes program offers a 20% cash back incentive on the gross commissions received on the purchase of a property – it’s our way of giving back to those who give so much. We also donate five per cent of the gross commissions received to Wounded Warriors Canada. *Some conditions apply speak to a sales representative for more information.
 

Why do I need a Realtor to help me find a rental, can't I just go on Kijiji, Craigslist or even Realtor.ca?

The answer of course is yes, but what is your time and stress worth? According to CMHC (the Canada Mortgage and Housing Corporation) in the fourth quarter of 2016 the vacancy rate for rentals in the GTA declined to 1.3% which is abysmally low and makes the Toronto rental market incredibly tight. You need an advantage and an edge. I can't tell you how many people I've helped find a rental who spent 6 months unsuccessfully trying to find one themselves before a friend or relative referred them to me. Within a matter of days or weeks I can usually help find the best place for their particular situation and let me tell you, some of those people have become my single greatest source of referrals! Now that's the mark of a happy client!

Let’s get down to what a Realtor can do to help you lease a condo in Toronto...
Working with a broker in the context of leasing helps you in a number of ways; from the most basic standpoint we have access to better search tools than you do (for listings on the MLS service). We are able to narrow our search to the most finite of parameters and weed out all of the extraneous listings so that the only suites your Realtor sends you have been tailored for your needs. We also know the market and are able to let you know when your goal of a 2,000 sq ft condo in the downtown core for $1,500 a month is an unrealistic one. Experienced Realtors will know what to look for in respect to the building and the suites themselves whether in regard to the floor plans, views, amenities, state of repair, balconies, local transit or construction in the area and more. They will also know the best buildings and locations for your particular lifestyle, the area restaurants, entertainment venues, gyms, shops, etc!
Additionally their services should include writing the offer to lease/lease itself, negotiating with either the landlord or the landlord's agent (more common) on your behalf and ensuring you get the best deal in the best location possible. A good Realtor will also know the laws, here are some excerpts from the Residential Tenancies Act you may find interesting: (A copy of the act can be found by clicking here and I highly recommend you read it over, or at least give it a good skim)
•    The only legal security deposit a landlord may collect is Last month's rent or a refundable key deposit that means no damage deposits, etc (See 2006, c. 17, s. 134 (1))    
•    No pet provisions in any lease are void and not enforceable (unless the building itself is a no pet building as some condos are) *There are some caveats that go along with this so speak to your Realtor about this one. (See 2006, c. 17, s. 14.)    
•    A landlord may not demand post dated cheques or a pre-authorised monthly charge on your credit or debit card(you can offer to provide post dated cheques to the landlord and I would urge that you do for convenience sake, but the decision is yours) (See 2006, c. 17, s. 108; 2009, c. 33, Sched. 21, s. 11 (3, 4))    
•    These are just a few examples of the law that your Realtor should be knowledgeable in, but I do always recommend you have your lawyer review any documents prior to signing them.

Hiring a Realtor to aid you in your search will save you time, money and quite possibly your sanity! The best part of working with a Realtor as a Tenant client is that for you, their services are FREE!*
(*Well almost, in most cases your Realtor will be remunerated by the landlord but not in all cases. Before you sign a Buyers Representation Agreement you need to discuss what happens if you find a place you want but the landlord isn't paying the commission, if you find something off MLS etc. This is something a good Realtor will go over with you and explain in a clear concise manner.)

My next post will talk about what you need to have and know BEFORE you call your Realtor to begin finding you a home to lease! Stay tuned!

As always, please feel free to comment, ask questions, and even suggest future topics you'd like me to write about!

Congratulations, this is a big decision, I'm so excited for you!

Buying your first home can be a wonderful, scary, intense and interesting experience! Your heart is pumping  adrenaline through your body, your nerves are shot, this is it! It’s time to take the leap! The move to home ownership while scary is one of the greatest things you can do for yourself and your family long term! (Well, you know, apart from getting your education, finding a partner and having kids (if you want kids), but back on topic...)  No longer will you be paying off someone else's mortgage, from here on in you're building your own equity! No longer will you be constrained with your design choices; from this point forward it’s all you (and your partner if you've got one)! You can paint whatever colours you like, renovate and more, this is your home, your life and you get to live it! Take some time, browse Houzz to get some decorating ideas, enjoy, plan, imagine!

We're here because this is your first step on the road to home ownership, there's a lot to learn and a lot to do before you make that purchase and you've come to the right place. This article is the first of a series dedicated to help you navigate the way to home ownership in the most informed way. Buying a home isn't like buying a toaster or even buying a TV, you need to know what you're getting into, be prepared along the way and remember like most things in life you need to surround yourself with the best team possible! Like in business, sports or any other aspect of life your teammates determine your outcome. Choose wisely and you'll have a great experience, and end up a very happy purchaser, cracking a bottle of Champagne on the day you move into your new home, choose poorly and the nightmare may just be beginning. Your home ownership team consists of your Realtor, your lawyer, your mortgage broker (or bank mortgage rep), and depending on your circumstances your financial planner and accountant. Sometimes you may also need a general contractor, a planner, a surveyor and more, but we'll cross that bridge when the time comes.

Assuming you've saved enough for a downpayment (more about this in a subsequent post), the very first step on this journey, before anything else, is to speak to either your bank or to call a mortgage broker and get yourself pre-approved for a mortgage. This is the single most important thing you can do when you begininning your home search. Once you have a pre-approval you will know what your price range and most importantly your price limit is. You don't want to fall in love with a home only to realize its outside what you can afford. 

So what are you waiting for? Go out and get yourself pre-approved for a mortgage so you can begin searching for a new place to call home! Call me if you need a referral to a good banker or mortgage broker, I have several fantastic people I refer to who I've worked with over the years. 

Good luck and happy house hunting!

Its time to sell your condo, whether you're moving up, moving down or just plain old moving out and you want to do everything possible to maximize your sale price. Not only that, but you don't want your condo sitting on the market for weeks if not months you want it sold as soon as possible (not that this is an issue in Today's market in Toronto).

The last condo I listed prior to writing this article sold in 3 days from when we listed it! My client followed my advice and she was ecstatic with the results, she received 110% of her asking price and the closing date she wanted with multiple offers.

You've gone and found a Realtor you like, you sign the listing agreement and now your condo is going on the market in a week or two. The Realtor you've chosen should have an appropriate marketing plan for you depending on the size and price of the suite as well as the area in which its located and the target buyer. They will (should) arrange to have professional photographs and video walkthough taken of your building, suite, amenities and area (usually at their cost), some will provide you with a staging consultant with a qualified stager and possibly have floor plans of your suite drawn up if you don't have a set to provide. Now what, do you just sit back and wait or do you help prepare?

In order to properly prepare your condo for sale you "should" be spending between 1-3% of the asking price in order to show the space in the best possible light. You want  to maximize your potential selling price by having people to walk in and immediately envision themselves living there! That means painting the walls, possibly changing any carpets to laminate or hardwood or at the very least having all carpets steam cleaned. When the painting and staging are done you need to have the condo professionally cleaned from top to bottom. I would highly recommend you actually hire the stager to properly stage your space including everything from nick knacks to artwork, sofas, tables, etc. A good stager will be able to store any furniture you may have that doesn't really work in your space. Often they will use some of your existing furniture (assuming you have some) and supplement with rental furniture if need be. 

Before the stager is scheduled to stage the property you should do everything you can to prepare the suite. What that means is to remove any "junk", take out anything you think is extraneous, this can include extra shoes, winter clothes in the summer or summer clothes in the winter (etc), remove any bottles of alcohol sitting out and clean out your closets! Cleaning out the closets is a much bigger deal than most people realize, it entails making sure the entire floor of the closet is empty and free of clutter, and paring down your wardrobe to take up no more than 25% of the space in any closet. The top shelf in the closet should also be clear for people to really see how much storage you have! The front hall closet should contain only jackets and a few pairs of shoes, no more.  You should also remove any personal photos, diplomas, religious artifacts, etc. Once you feel your condo has been adequately cleaned out its time to bring in the stager...

During the consultation the stager will note your existing furniture, tell you what works and what doesn't, tell you what nick knacks you need to remove (though you got them all did you), which pictures/paintings to keep on the walls and which to remove. I highly recommend you listen to everything the stager has to say. Often the consultation is paid for by the Realtor and you will choose whether to hire the stager's services or not. Most stagers will be able to offer different levels of service at different price points depending on how far you want to go. 

Now you've painted, cleaned and staged your condo, time for the pictures! Research has shown a direct correlation between the number of pictures on a listing and the time it takes to sell, the more pictures the better off you are! A professional photographer is 100% necessary here, your point and shoot camera won't cut it neither will the camera on your cell phone! I normally recommend having the photographer come just as the stager is finishing setting up the condo. Now this is up to you (or your Realtor), but I find giving the pictures a little personality is best, that means setting the table with place settings, maybe an orchid or flower arrangement, if you have a fantastic balcony or terrace show it off! Set up a nice chair, maybe a glass of wine on the side table, a novel sitting out and a pair of reading glasses on top. Capture the essence of the condo in the best light possible, show it off!

That's all for today, please ask any questions you may and if you want to discuss the sale of your own condo feel free to give me a call anytime!