John Pasalis has seen dozens of moms-to-be in a panic and dads clutching spreadsheets of school scores walk into his Leslieville office during his years as a real estate agent.

He’s come to realize that when it comes to the hard math of buying a home, good schools count almost as much as price and location.

“People will say they want to live along the Danforth, but that really means they want to be near Frankland or Jackman schools,” says Pasalis. “When they talk about looking in Bloor West Village, they really mean Runnymede school district.

“Schools have become a huge concern for most homebuyers, even those who don’t yet have kids.”

So Pasalis and his partner Urmi Desai have done some number crunching of their own.

Sometime next month they will launch a novel new tool on their Realosophy.com website that is sure to stir up controversy and get homebuyers doing some calculations on their own.

They plan to post the EQAO scores and data for some 450 Toronto schools along with listings of all the properties currently for sale on MLS in the surrounding area. But, more than that, their small analytics team — Pasalis admits he prefers mining data to manning the TV remote at night — will try to explain if and how the scores translate at street level.

That could eventually lead to offerings on their website such as: The top 10 schools with houses for sale under $500,000; the schools with the most improved scores and how/if that is impacting real estate values; affordable areas with improving school scores.

“We’re not using this data to say, ‘Here’s where not to live,’” says Pasalis. “And you need to take these EQAO scores with a grain of salt. A lot of times buyers put more weight on school scores than they should.

“We’re trying to take a more optimistic and positive approach, to help people find neighbourhoods that may still be affordable but overlooked.”

The bottom line is that the top schools — at least the ones that score highest on the controversial standardized EQAO tests meant to assess the reading, writing and math skills of every Grade 3 and Grade 6 student in Ontario — tend to be in the most expensive neighbours.

And those are now out of reach of most buyers, thanks to a doubling of Toronto real estate prices the last decade and unrelenting bidding wars for what little does come up for sale in coveted neighbourhoods.

“People need to be educated. Yes, you may want to be in the top school district, but you don’t want to spend millions of dollars on a house,” says Pasalis.

“We’re trying to find ways to help people search for homes in a way they can’t today. And the reality is, most people search based on schools.”

Pasalis is keenly aware of the criticisms of school scores — that they speak more about socioeconomics than sound teaching.

And, in fact, some of the preliminary findings have been interesting.

Some 46 per cent of Toronto schools that score an average of 80 per cent or greater are in neighbourhoods where the average house price is less than $500,000, largely in Scarborough and North York.

So far they’re found there is “no straightforward relationship between the quality of local schools and house prices.”

Yet homebuyers remain confused and concerned.

“One of the most common questions we’re asked is, ‘If I buy in a bad school district, is it going to affect the resale price of my home?’ says Pasalis.

“We’re trying to answer a lot of these questions and either confirm what people believe or challenge some of the myths out there.”

Low interest rates, and low inventories of houses for sale, helped push house prices up almost 9 per cent across the GTA this January over last, according to statistics released by the Toronto Real Estate Board Friday.

The average sale price across the GTA hit $463,534 in January. But average price of a home in the Toronto 416 regions came in just shy of $500,000 — $499,045 — compared to $442,380 in the 905 regions, TREB says.

Some 4,567 GTA homes changed hands through the MLS system last month, up 8.8 per cent from almost 4,200 sales in January, 2011.

“Low inventory levels have kept competition between buyers strong, resulting in robust annual rates of price growth over the last year,” said TREB senior market analyst Jason Mercer.

TREB is hoping that the higher prices will encourage more people to list their homes, which could see more inventory come on the market in the second half of this year.

View this recently sold Detached Home or see all my home sales

Does the looming tax deadline have you gritting your teeth? We all have to pay our taxes. And nobody wants to pay too much.

“Unfortunately, people tend to pay more tax than they need to because they do tend to overlook some of the savings they can take advantage of,” said Carol Bezaire, vice-president, tax and estate planning, at Mackenzie Financial.

A deduction is valuable because it reduces your income for tax purposes.

Rack up enough of deductions and you’ll pull yourself down into a lower tax bracket and end up with a big refund, if you’re lucky.

These are worth more to those in higher tax brackets. By contrast, a non-refundable tax credit reduces the amount of taxes owed. The value is the same for everyone. The term “non-refundable” refers to the fact that if the tax credit exceeds the amount of tax payable, you won’t get a refund for the difference.

The Toronto Star asked Bezaire to shine a light on deductions and tax credits that Canadians tend to overlook or misunderstand:

RRSPs: Contributions to Registered Retirement Savings Plans are the mother of all tax deductions. Roughly speaking, you are allowed to contribute up to 18 per cent of your earned income from the previous year, and deduct that amount from your income at tax time.

The government even gives you an extra two months past the end of the previous calendar year to sock that money away. (That’s why January and February are known as RRSP season.) The trick here is that you can carry forward contribution room indefinitely.

You can also carry the deduction forward to use in a year when your income is higher. Check your Notice of Assessment from the Canada Revenue Agency for more details about how much you are allowed to contribute and deduct.

If you carry forward those RRSP contributions to deduct in a future year, keep track of them carefully, Bezaire advises. This amount will determine how much you can put into your account in the current year.

Capital losses: Losses from buying and selling shares in an unregistered account (not your RRSP or your TFSA) can be carried back to any of the previous three years or carried forward indefinitely. These can be applied against capital gains to reduce your total income from investments.

“For someone who was fortunate enough to have made money on their investments in 2011, see you if you’re carrying forward any capital losses and use them,” Bezaire said. Your Notice of Assessment will also remind you of the losses you haven’t used yet.

An equivalent-to-spouse-tax-credit: Taxpayers who are single, divorced or separated with children, can be claimed for a child. This non-refundable tax credit is worth $10,527 this year federally. (That’s multiplied by 15 per cent when calculating the final credit, but it’s still far higher than the $4,282 tax credit for a dependent child.)

In the case of a child, the dependent has to be a Canadian, resident, under 18, and financially dependent on you.

Child care expenses: These expenses, whether for a nanny or day-care centre, must be claimed by the parent with lower net income in most cases. Allowable expenses are those paid for the care of a child age 6 or under, to enable the parent to work, carry on a business, or go to school.

“A lot of people forget to deduct their child-care expenses,” Bezaire said. In many cases a nanny or care-giver may not report the income, in which case you will not be eligible for a deduction.

Medical expenses: Claim non-refundable tax credits for medical expenses paid by either you or your spouse or common-law partner.

“People forget to take a look or they assume it’s not eligible,” Bezaire said. But, in fact, any non-reimbursed medical expense can be claimed, including prescription medication, dental surgery that’s not covered by insurance, or laser eye surgery.

Expenses that total more than $2,052 or 3 per cent of net income can be claimed. To make the most of the tax credit, the expenses should be claimed by the person with the lower net income, Bezaire said.

Moving expenses: If you moved at least 40 km to be closer to a new job, run a business, or go to school, you may deduct the moving expenses. Eligible expenses include transportation and storage costs, reasonable costs for meals and accommodations, real estate commission, legal fees, and costs related to changing your address, such as replacing your driver’s licence and connecting or disconnecting utilities.

“What many people overlook is that you can claim the cost of moving your children to university or college,” Bezaire said.

Carrying charges: This refers to costs incurred in order to earn income on your investments. Fees paid for the management of your investments, other than commissions, are eligible. If you use a safety deposit box for safekeeping your investments, you can claim the cost as a carrying charge.

Physical fitness and arts activities for children: Eligible programs must be supervised, appropriate for children and must be at least eight consecutive weeks or five consecutive days long, with at least half of the activities involving a significant amount of physical or artistic activity.

Additional tax credits are available for a child with a disability. The sports programs must build muscular strength, endurance, flexibility and balance. On the arts side, eligible programs can focus on literary, visual or performing arts, music or language.

Charitable donations: keep in mind that these donations can be carried forward.

“If you’re doing your housekeeping and find a charity receipt and you say, ‘rats, I didn’t use it’, hang on to it. You can still use it,” Bezaire said.

If you have a spouse, pool them and include them on the return of the person who pays the most tax, she added.

For more information, you can consult Canada Revenue Agency either by phone or online.

Bezaire also has tips for getting organized: Keep all your receipts in one drawer, folder or box so you’re not running around to try to find them every April. And file on time, she added.

The Bank of Montreal made headlines last week, announcing a special 5-year fixed rate of 2.99 per cent.  Other banks  followed with their own special offers, as the competition for mortgages heats-up across the country.

This might be a good time to consider refinancing your mortgage.  Here’s why: 

When interest rates are low, many people refinance in order to save thousands of dollars over the life of their mortgage.  However, it’s important to determine what the pre-payment charge will be before refinancing your mortgage.

A pre-payment charge is the amount you will need to pay for breaking the terms initially negotiated on your mortgage.  This can be a large amount, meaning you won’t actually be saving money in the long run.

It doesn’t always make sense to break your mortgage, but a good rule of thumb is if interest rates are at least 0.5 per cent lower than your current mortgage rate, it’s worth looking at refinancing.

Consider a scenario where you locked-in at a discounted 5-year fixed mortgage rate of 3.99 percent in January, 2010.  The balance on your mortgage is $250,000.

Even though variable rates are lower, you’re still concerned about rising interest rates in the future.  Your bank is now offering a 5-year fixed rate of 3.49 per cent.  

In order to break your current mortgage after two years of payments, and with three years remaining on your term, you will be charged an interest rate differential (IRD) penalty of $3,750*.

The penalty sounds pretty stiff, and that’s what scares people and prevents them from taking action.  By refinancing with the new interest rate of 3.49 per cent for the remaining 36 months, you will save $128 per month in mortgage payments, and save more than $6,775 in interest.

As consumers, we spend a lot of time shopping around for the best grocery prices, or looking for the cheapest gas station, yet we can’t be bothered to review our mortgage at least once a year for the opportunity to save thousands of dollars.

Before refinancing, consider how long you plan to stay in your home, how you plan to use any extra cash flow, and how refinancing can support your overall financial goals.

* contact your lender directly for an exact penalty quote

Economists have been predicting interest rate hikes for the past three years, but in the face of stiff economic challenges across the globe it’s more likely that the Bank of Canada will cut interest rates this year to mitigate the risk of a recession.

This low interest rate environment presents a great opportunity to pay off debt, particularly a mortgage or line of credit.  With variable rate mortgages at less than 3 per cent and lines of credit offered at 3 or 4  per cent, borrowing money has rarely been more affordable.

However, there is a case to be made for Canadians to take advantage of cheap borrowing costs and invest for a higher return. 

Paying off debt

The reason it makes sense to pay off debt during periods of low interest rates is that more of your payments are going towards principle, with less going towards interest. 

A $300,000 mortgage at 2 1/4 per cent amortized over 25 years would require a $1,300 monthly payment, with $750 of your first payment going towards principle and $550 covering the cost of interest.

With the same mortgage terms, but an interest rate of 5 per cent, things look much different.  The total monthly payments jump up to $1,750, with only $525 paying down the principle and $1,225 covering the cost of interest on your first payment.

Investing

Many people see the low cost of borrowing as an opportunity to amplify their investment returns.  The theory is simple; you just need to generate a higher return with your investments to offset the cost of borrowing the money. 

With some dividend stocks and Canadian REIT’s yielding between four and seven per cent these days, borrowing to invest can help increase your net worth much faster than simply paying down low interest mortgage debt.

Another investing strategy is to just make the minimum payments on your low interest debt (assuming you’re consumer debt free) and use the extra cash flow to invest in stocks or real estate.  When interest rates eventually go up, you can reverse this approach and use the extra cash flow to pay off debt.

I’m taking a balanced approach and paying an additional $600 per month on our mortgage, with the goal to be mortgage free in 15 years.  Any extra cash flow in our budget will go towards maxing out at least one of our tax free savings accounts.

Canadians may be seeing red more often in 2012, but it won’t just be on their January credit statements, according to those who set the colour trends.

After years of muted tones, dictated in part by the world economy and politics, decorators have declared it’s time to inject a bit of colour into our lives.

CIL Paints and Sico, among others, have declared red the colour of the year. But it’s not the deep, dark brooding red of yesteryear, it’s a “blushy, lively, juicy red,” says Alison Goldman, marketing and communications manager for CIL.

“Red is held in high regard around the world,” says Goldman, explaining that in China red means good fortune, in India it signifies marital bliss, and in many Western cultures it’s the colour of passion, power and festivity. “Because it can mean so many things to so many people, red is a colour that reminds us to open our minds to new ideas waiting to be discovered.”

When you live in an apartment or condo, paint can be the No. 1 way to change your space — it’s easy to apply and can be finished in one day.

Don’t shy away from the bold colours, says Goldman, who isn’t a proponent of ruling out strong colours in small spaces.

“I find it’s more about the mood you want to create in that room, so if you’re looking for a cosy feeling a darker colour is going to look great,” she says. “It’s not going to give you a feeling of more space — it does bring the walls in a bit closer, but that could be what you want. Go for the colour that makes you feel good. The rules are kind of out the window. The only rules applicable to home decorating is to use what you love.”

“In small spaces, what’s great is you can use a colour-zoning technique in a space on an architectural feature of your condo or simply to put an accent of colour without painting an entire room or entire wall,” says Mylene Gévry, marketing communications manager for Sico based in Montreal. “ You can play with shapes on the wall to bring that colour effect into your decor, so colour zoning is still a very important trend in decoration.”

That can mean adding even just a hint of what’s new and popular to update your home.

“Our red is an absolutely gorgeous colour. It’s not a strong oxblood that can be a little hard to take, but rather a soft peachy-toned red and it’s very useful. Not as bold as reds have been in the past,” says Goldman.

So why is red emerging in these tones now? Goldman says colour trends are typically an indication of the general mood of society.

“The colours that are popular now are taking steps out of the traditional. We are going to see oranges and yellows that are just on the edgy side — not traditional, but modern. I think we’re seeing a desire to step out of what’s been going on economically with politics and the depressing things we see in the news,” she says.

Colour, much like fashion, may see trends return but that doesn’t mean you can revert to what was considered chic five years ago.

“The overall feeling of it can be different. You may think you’ve seen this soft red before but it’s not the same; there’s always something that makes it modern,” says Goldman.

If you’re bashful of bright reds and oranges, fear not, there are also some new neutrals to balance it all out. One in particular is Silver Quill from CIL, which is a soft neutral grey and can be paired with any of the new bright colours being touted for this year, says Goldman.

“Pairing a grey with a bright colour is a strong theme this year. In the ’80s it was pink and grey or pink and dark green. The grey today is taking over from the beige and tan neutrals we’ve seen in the past,” says Goldman.

The yearly colour trends evolution is always somehow related to the state of world. In 2009, the economic times were tough and colour trends were neutral colours, a little darker than usual because it was a way for people to comfort themselves. In 2010, there was a sense of optimism and colour came back.

For 2012, it’s not so much about a specific colour, but a need to express ourselves and share a point of view reflected in a palate dominated by reds and greens with subtle neutrals to bring a balance, Gévry says.

“You won’t see a trend of 100 per cent bright colours. It’s about a balance of neutrals not only on the wall but in accessories,” she says.

According to Sico’s colour experts, there are three prevailing colour themes and styles for the year ahead, each reflecting a need to celebrate personal connections: “living scrapbook,” “one small seed” and “delicate mix.”

With social media and blogs having created a wave of creativity, the living scrapbook theme represents how a culture of showcasing “Who I am” has crossed over into home decor. It presents a balanced, warm and charming palette featuring contemporary corals like Ming Red, sky blues such as Santorini, greens like Olive Chartreuse and luminous yellows such as Star Coral.

One small seed highlights a personal connection to how our actions affect the world around us. Inspired by the process of photosynthesis, popular colours in this group include garden greens like Namibian Desert, dark soil browns like Pen and Ink and pastel blues like Lunar Month.

The colours in the delicate mix palette exude subtlety, silence and visual stillness while promoting harmony, modesty and perfect balance. Highlighting this palette are neutrals, nude pinks and subtle mauves such as Grey Drizzle, Satie White, Frangipani and Furtive Mauve. These colours, which celebrate the mind while soothing the soul, pair well with nuances of forged iron, steel, aluminum, polished concrete, wood, copper and oiled leathers.

So if your New Year resolution is to inject some new life into your living space, consider what aspects of life are inspiring you today.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Waterfront Communities Condo for sale.

As always please do not hesitate to give me a call at 416.494.7653 if I can answer any questions before the open house, or if you would like to book a private showing.

Ravi Singh
RE/MAX Hallmark Ltd., Brokerage

Please come with any questions you may have. In the meantime you can take a virtual tour of this Little Italy - Trinity Bellwoods Attached Townhouse for sale.

As always please do not hesitate to give me a call at 416.494.7653 if I can answer any questions before the open house, or if you would like to book a private showing.

Ravi Singh
RE/MAX Hallmark Ltd., Brokerage

1034 Sq. Ft. Plus Balcony. Luxury Living Set Atop The City With The Best Panoramic Views Of The Skyline And Lake Ontario. Unparalleled Offering With Hardwood Flooring, Large Modern Kitchen, Floor-Ceiling Windows All On The 32nd Floor! This Is The Highly Sought After '05' Floorplan Which Is The Largest 2 Bedroom Other Than The Penthouse Elevations. This Is Incredible Value In An Excellent Location Close To Everything. A Truly Stunning Large Condo In The City!!

The Toronto housing market slipped back into sellers’ territory in November, helping propel prices even higher to a record average of $481,305.

That’s a 2.1 per cent increase from October and, when adjusted for seasonal fluctuations, almost 10 per cent more than the average GTA home was worth a year ago, according to figures released Thursday by the Canadian Real Estate Association.

In fact, November sales across Canada were 7 per cent above the 10-year average for the month, resulting in the fourth highest level of sales on record for what’s typically the slow season, CREA noted.

While no one is uttering the dreaded B-word — bubble — as did Britain’s venerable magazine The Economist when it recently warned Canada’s housing market may be 25 per cent overvalued, the warning is clearly of concern among the country’s housing experts.

“With interest rates expected to remain low for longer, the housing sector will no doubt be closely watched for signs of excess,” say CREA’s chief economist Gregory Klump.

“That said, current trends for resale housing and new home construction suggest that tightened mortgage regulations are working as intended and fostering economic stability in Canada.”

A record November of sales in Halifax-Dartmouth, up a seasonally adjusted 34.7 per cent, helped offset a 10.5 per cent decline in sales in Toronto where 7,773 homes changed homes.

New listings across the GTA were down 4.4 in November while prices climbed by 9.7 per cent.

Despite economic turmoil in the rest of the world, Canadians continue to see real estate as a sure thing: A total of 432,048 homes have traded hands across Canada between January and the end of November, up 2.1 per cent from the same period last year, CREA says.

Balanced conditions set to return to most Canadian housing markets in 2012,

while residential values expected to once again set new records, says RE/MAX

Canadian residential real estate defied conventional logic and outperformed expectations in 2011, posting another solid year of housing activity virtually across the board.  The trend is expected to carry forward into 2012 as Canadians continue to demonstrate their faith in homeownership, despite concerns over the European debt crisis and its impact on the global economy, according to a report released by RE/MAX. 

The RE/MAX Housing Market Outlook 2012 examined trends and developments in 26 major markets across the country.  Eighty-eight per cent (23/26) anticipated average price increases by year-end 2011—with percentage hikes ranging from one to 16 per cent. The forecast for 2012 shows the upward trend moderating, but still ahead of 2011 figures.  Overall home sales are expected to remain on par or ahead of last year’s levels in 85 per cent (22/26) of markets in 2011—including Saskatoon with a year-over-year percentage increase of 13 per cent and an eight per cent uptick in Calgary, Winnipeg, Hamilton-Burlington and Sudbury.   Almost half of Canadian markets will match the 2011 performance, while the remainder should post increases ranging from one to five per cent next year. 

By year-end 2011, an estimated 460,000 homes are expected to change hands, up three per cent from the 447,010 units reported in 2010.  Sales are expected to climb one per cent to 464,500 units in 2012.  The value of a Canadian home is set to climb to $363,000 this year—an increase of seven per cent over the $339,030 posted one year ago.  By year-end 2012, the average price in Canada is forecast to appreciate two per cent to $371,000.

The Canadian housing market has demonstrated tremendous resilience in recent years, but 2011 stands out.  Instead of responding to economic concerns both here and abroad with a retreat in sales and prices, residential real estate markets actually experienced an upswing in the volatile third and final quarters.  While clearly not impervious to the impact, Canadian consumers are intent on making their moves now, in advance of higher housing values and rising interest rates down the road.

Improvement in both provincial and local economies, especially during the second half of 2012, should serve to further stimulate home-buying activity.  Calgary, Saskatoon, and Halifax-Dartmouth will likely lead the country in unit sales in 2012, each with a projected increase of five per cent.  Regina, Greater Toronto, Saint John, Moncton, and St. John’s anticipate a three per cent increase in home sales next year.

The economic underpinnings support ongoing demand, particularly as job creation efforts continue and unemployment rates edge down further.  Nationally, we remain on an upward track, and the confidence consumers have demonstrated in housing over the past decade will prove well founded once again next year.  The rising belief in homeownership is key, especially among Generation X and Y—some of whom are making their moves sooner.  Boomers and retirees are changing, too. They’re healthier and more active, with longer life expectancy.  Overall, we’re seeing an extension of the homeownership cycle, and it’s great news for housing.

-more-

RE/MAX Housing Market Outlook 2012….2

While tighter supply levels contributed to steady price appreciation in most major markets across Canada this year, an increase in inventory more in line with years previous should ease upward pressure on average price in the year ahead.  The highest appreciation is expected in Regina, where values are forecast to increase eight per cent, followed by Greater Toronto, Halifax-Dartmouth, and St, John’s—each posting a five per cent gain. Overall, 81 per cent of the markets examined are forecast to set new records for average price next year.  Noteworthy milestones include Greater Vancouver, which will break the $800,000 threshold, as well as Regina and Kitchener-Waterloo, which will reach the $300,000 mark.

While prices will remain on the upswing, buyers will benefit from greater selection moving forward.  Stability or modest growth will characterize sales activity while GDP moves forward at a more muted pace in 2012.  Whether markets will meet or potentially exceed projections will hinge largely on consumer confidence.  An unexpected call for interest rate hikes could also serve to bolster sales.

Other highlights include:

• Population growth and immigration are major factors expected to prop-up housing demand and household formation in the coming years.  Since 2000, Canada’s population has experienced double-digit growth of 11 per cent.  By 2031, over 42 million people are expected to call Canada home.
• Investment will also continue in Canada’s major centres, with income-producing properties at the top of the most wanted list.  Low vacancy rates and stock market volatility reinvigorated this segment of the market in 2011 and the very same factors are forecast to influence sales moving forward.
• Condominiums are expected to gain an increasing share of the marketplace, particularly in Western Canada and Ontario.  A focus on higher density urban growth is impacting purchasing patterns and introducing new, affordable options—critical to the attainability of homeownership as prices continue to move upward.
• Housing stock in major Canadian centres will improve as municipalities focus on redevelopment and revitalization. 

Balanced Market Conditions set to Return Next Year.pdf

MISSISSAUGA, ONT.—The Re/Max real-estate sales organization says Canada’s housing market has been ahead of expectations this year and growth will likely continue into 2012.

It says home prices are expected to be up in 23 of the 26 local markets that it tracks, with about 460,000 changing hands by the end of 2012.

Re/Max says it expects the upward trend will continue next year but at a more moderate pace.

It expects Calgary, Saskatoon and Halifax-Dartmouth will likely lead the country in unit sales in 2011, with the volume increasing by five per cent.

The Greater Toronto Area, St. John’s, N.L., Saint John, N.B., Moncton and Regina are expected also see more sales next year, about three per cent above 2011.

Consistent with other data, Re/Max says the Canadian housing market picked up steam as the year went on — helped by low interest rates and rising prices.

Many economists had expected the Bank of Canada would begin raising its key interest rate by the middle of 2012 but that didn’t happen.

The central bank has kept interest rates low to stimulate the economy by making it less costly for businesses and consumers to borrow for their purchases.

Six Ways to make sure you Buy the Right House
By: Mark Weisleder

A year ago I wrote the most common mistake home buyers make is buying with their heart instead of their head — usually because they panic while involved in a stressful negotiation for which they are unprepared.

The result is that buyers pay more than they should, or are disappointed later when they find defects in the home or discover the neighbourhood isn’t quite what they thought.

So, here’s an updated list of six ways to prepare yourself:

1. Sell or buy first?

We are still in a seller’s market in the GTA, with the number of buyers exceeding the number of available homes. In this type of market, you should buy your new home first and then sell your existing home. If you sell first, you may find yourself running out of time, with no home to move into, as the closing date nears. This leads to panic buying.

In a buyer’s market, sell your home first as you won’t have as much trouble finding a new one.

2. Research, research, research

Check police websites for neighbourhood crime statistics. Ask at City Hall if new developments are planned or whether a new large employer is relocating to the area. Jobs mean demand.

Walk any neighbourhood you are interested in and talk to people. You will learn the demographics of the area and its facilities. What schools are in the area and is there a waiting list to get in? Are there activities nearby for children, including parks, libraries and community centres? You also get a sense of the friendliness of the community and whether there are surprises that no one is going to advertise — vandalism, former grow houses, or the neighbour from hell.

3. Find the right agent

Do not go into an open house alone, thinking you can save commission. The agent is working for the seller and their job is to get the seller the most money possible. While focusing on saving a few dollars negotiating commission, you will invariably give away important information about yourself, which will hurt you later.

Start by asking family and friends for a buyer agent referral. Then study the agent’s own website. Do they offer information that will assist you with your search? Do they have a team of professionals they can share with you? When you interview them, ask them about their knowledge of the area; in particular, is it known for sewage backups, termites, flooding or mould. Ask for their own success rate when working with buyers, especially in bidding wars, and then call those buyers yourself.

4. How much can you afford?

You should never live just to pay your mortgage, or else the rest of your life will suffer. Meet with a mortgage broker in advance to determine how much you can safely borrow, based on your income and family needs. Buyers should also realize the lender will do an appraisal and if the lender believes you paid more than the house is worth, they will not give you the full amount of the loan you expect. So, be very careful about stretching yourself to the limit when you make an offer.

5. Choose a home inspector carefully

The home inspection is becoming even more important, as it is one of the only ways for a buyer to check against unwanted surprises after closing.

Ask for references and call these references yourself, especially the ones who bought older homes, where problems are more likely to occur later. There are now additional inspections that test specifically for mould or termites. There are video cameras that can tell you the condition of your sewage system and scanners that can look behind walls. If it is an older home, it is worth this extra investment.

Remember, most inspection firms have a limitation of liability clause, which states that if they miss something that costs you money, they are not responsible. Ask the company if they have ever been sued by a buyer.

6. Title insurance is a must

Title insurance can be arranged through your lawyer. You will be protected against unpaid taxes or water bills by the seller, as well as problems that are not known at closing. This includes problems where part of the home or swimming pool is in fact on your neighbour’s property.

However, it is a mistake to believe title insurance will protect you against everything. For example, it won’t compensate you if you thought your lot was 50 feet and a later survey showed it was only 48 feet. That is why you should always ask for an up-to-date survey on the property.

The problem with working out in a small space is twofold: Quarters are tight and equipment is large. Thankfully, making a few changes to your home’s setup — and choosing strategically sized fitness gadgets — can help even the coziest areas yield a workout worthy of the gym.

Clear the clutter. The easiest way to transform a cramped living room into one that welcomes a workout is to move bigger pieces — like coffee or side tables and chairs — out of the way. “All you need is an area that’s six feet by six feet to get a good workout,” says Andre Potvin, Vancouver personal trainer and president of INFOFIT Educators School for Fitness Professionals. If you’re able to lie down without bumping into furniture when facing north/south and east/west, he says you’ve got more than enough room.

Pull double duty. Sometimes the key to incorporating exercise equipment into small areas lies in choosing the right multi-tasking pieces. Toronto-based interior designer Marisa Arpaia loves stability balls for this reason. “They’re great to use as a chair in a home office, and as an addition to Pilates, yoga and core-strengthening workouts. And because they’re easily deflated, they can magically disappear when company shows up.”

Shrink it. It’s not just furniture that’s downsizing of late — fitness gear is shrinking too. According to Dai Manuel, chief operating officer for Fitness Town, two products taking off for the home market are Power Plate Vibration Training, a machine that promises body toning and cellulite reduction in mere minutes a day, and Functional Trainers, a space-conscious multi-functional machine that offers a complete workout via hundreds of different exercises. “Both of these systems have been gaining momentum for the past two years as in-home fitness solutions because they’re effective and take up very minimal space,” Manuel says.

Think like a trainer. There’s a plethora of collapsible or compact pieces of fitness equipment that can be easily hidden or stored away, so channel your inner trainer and follow the ‘in the bag’ technique. “If I’m training a client in their home, I only bring what fits in my bag,” says Potvin. The pieces making the cut: a stability ball, two sets of resistance tubing and PowerBlock dumbbells, which are portable, compact and can offer weight equivalent to that of an entire rack of dumbbells. “Each of these pieces are versatile, easily stowed and ideal for an at-home gym,” he says.

Avoid the oversized. Unless your last name is Beckham and you have a large personal gym at home, think twice about cluttering up your space up with clunky treadmills, exercise bikes and elliptical machines. While some are folding and can be tucked away in a closet or even under a bed, in many instances, says Arpaia, these machines end up being used as an expensive laundry rack and not for much else.

Pass on fads. As with fashion, certain pieces of fitness equipment have a decidedly ‘flavour-of-the-month’ feel to them. “Kettle bells and medicine balls fall under the ‘not necessary at home’ category for me,” says Potvin. “They can be great fitness tools, but working out with them requires quality instructions about precise techniques before someone attempts to use them on their own.” His suggestion: Stick with the classics, and don’t waste your money — or space — on pieces that are best left at the gym.

See a professional. You’ve stocked your home with the best small-space equipment. Now what? “The most important thing I suggest people do when they’re trying to dedicate themselves to a fitness routine — in or out of their home — is hire a trainer,” says Potvin. Even if it’s for one session a month, you’ll not only be walked through proper technique, that single session can set you up for a month of training and ultimately lower the chances of you giving up on workouts because you’re not sure which moves to perform.”

Please come with any questions you may have. In the meantime you can take a virtual tour of this Little Italy - Trinity Bellwoods Attached Townhouse for sale.

As always please do not hesitate to give me a call at 416.494.7653 if I can answer any questions before the open house, or if you would like to book a private showing.

Ravi Singh
RE/MAX Hallmark Ltd., Brokerage

Please come with any questions you may have. In the meantime you can take a virtual tour of this Little Italy - Trinity Bellwoods Attached Townhouse for sale.

As always please do not hesitate to give me a call at 416.494.7653 if I can answer any questions before the open house, or if you would like to book a private showing.

Ravi Singh
RE/MAX Hallmark Ltd., Brokerage