Friday, January 15, 2021

The advantages of renting out a condo

The Toronto real estate market has many offers for prospective investors and first-time home buyers in all price ranges. Buying a condo has so many benefits as an investment or renting it out. It certainly depends on the current real estate market in your neighborhood. 

A top Toronto real estate agent knows all the advantages and disadvantages of the business. So paying attention to your realtor’s advice can help the process of owning a rental property. let‘s review some advantages of renting out a condo.

1. You can counter the inflation rate rising by condo investment. Because in the past, condos value have exceeded the inflation rate in Toronto. By looking at the TREB’s average condo price trend since 1996, you can see that the condo owners are way ahead of the inflations. It means the value of condo apartments generally appreciate at a rate which is mostly higher than the inflation rate.

2. Most of the people are confused by choosing to rent or buy a house. But, the city of Toronto is always filled with those who are looking for a good condo to rent. In fact, over 120.000 people come to GTA each year, so it is obviously easier to find a renter for a condo, especially in a downtown area. Of course the exact time for renting a condo completely depends on the location and neighborhood.

3. Repairing and upgrading a house increase its value. Although maintenance of a condo is so much cheaper than a house, but as a condo owner, you have no responsibility for repairing or upgrading outside of your unit. It means you buy a condo for investment, you don’t need to upkeep the management and maintenance problems, and however your condo value is still increasing. How amazing this would be!!

4. Renting your condo can be a good option for finding the right time to sell. For example, when you are ready to move, but the market condition is not proper for sellers. Here, you have the option of renting your property rather than selling it. Therefore, renting option gives you the flexibility to sell your house in a better market situation and obtain more profit.

If you are considering the investment on a rental condo, there are some important factor you should pay more attention to. These factors can help you rent your condo sooner and easier. 

The location and the quality of the condo neighborhood have an important effect on the tenant. So you better think over its walkability, public transit access or proximity to grocery store or even parking space. You must consider all the factors which are important for you to live in a neighborhood.


Do not answer these 4 questions when selling a house!

These are the questions that come with buying a home

First real estate consultants and then buyers ask you when they visit the house.

How many years have you lived in this house?

Why are you moving?

How are the neighbors?

 What repairs have you done to your home recently?

I see your neighbor has sold his house. Do you know what price it sold?

It makes perfect sense for real estate consultants to ask these questions. Because for pricing, your property needs to be sold quickly to have all the information about your home. But buyers are asking these questions to ask for a price reduction and get a discount from you. If you want to have a logical answer to these questions that you are finally asked and sell your home at a high profit and without loss, we suggest that you follow this article.

Here are some things to look for when selecting yours

Make a definite decision to sell your home

Selling a home for any reason is not an easy task at all. You need to plan for a new place to live. Get ready to move in and find a new home. Do not discuss your decision with a real estate consultant until you are sure of these issues. Because the customer may be present at the first opportunity to buy a house, but you have not yet found a new place to live!

Have accurate and reasonable pricing for your property

Do not get emotional about pricing the property! The customer buys your house based on the market price and the existing conditions. Not based on the years you lived in that house and have good memories. Be sure to consult real estate experts and consultants to price your property. In general, try to make the total amount reasonable and acceptable. By doing this, you will increase the speed of selling the house and finding real customers, and fewer people.

They ask for a discount and a price reduction from you.

If your home needs major repairs, act immediately

Usually, no one wants to buy a house that pays for repairs in addition to the money.

 If you plan to paint the house, you can wait until the customer is found

From the deal, you can be sure that you can paint the walls according to the customer's taste. This will increase your chances of selling the house. But before doing this, be sure to clean the walls, so that the house is completely ready for the customer to visit. Be.

 Pay attention to the time of pest control at home

The presence of beetles in the house may be normal, but it is not at all pleasant for the buyer to buy a house where the beetles are moving. So be sure to pay attention to this issue and do all the pesticide steps some time before the start of home visits.

Once you have made the necessary arrangements for the sale of the house, prepare yourself for these questions.

These are four destructive questions, pay close attention to their answers!


1- Why are you moving?

Everyone has their own reason for moving. Work, education, marriage, new neighborhood, bigger house, etc. All of these are factors that make people decide to relocate. If you are going to sell a house, prepare yourself for these questions because usually 90% of buyers will ask you this question. This question may not seem pleasant to you and may even upset you, but the buyer by asking This question just wants to make sure that the reason for your relocation in the future does not lead to his relocation and prevent this issue.

2- How are the neighbors? Tell me a little about them!

Maybe you and your family are busy and have never had time to talk to your neighbors and be intimate with them. And you are only familiar with them to the extent of construction sessions. In this case, do not be surprised when you are asked this question. Maybe for others, the neighbors and their treatment are important. Remember that your idea of ​​a good neighbor may be completely different from theirs.

For example, you like a neighbor who is calm and quiet, but someone else likes to socialize with neighbors. In this case, it is better that when you are asked the neighbor Rajab a question in one sentence

(We have really good neighbors and we have not had any serious problems so far and we lived well together) Enough.

By saying a positive and motivated sentence, both relax your mind and create a positive attitude in the mind of the buyer.

Of course, keep in mind that if it is a specific issue that the buyer should be aware of, it is better to state it.

By doing this, you will both prevent serious problems in the not-too-distant future, and you have done the right thing.

3- What repairs have you done in your house recently?

If you are one of those people who are with the consultant and the buyer when visiting the house, in addition to having to answer these questions, you will witness a series of events. The customer will surely ask you what repairs you have done recently and what problems the house has had?

And after asking these questions, they start visiting the house. When you visit a buyer, you know your right to see everywhere in the house with full care and detail. He may look at the door locks, check the window handles and the balcony. Check the floor and even want to see inside the closet. If your house is empty and you have gathered your belongings, this is not very difficult for you. But if you have not yet fully packed up and are living at home, this visit may not be pleasant at all. So if you are planning to sell a house, you need to prepare yourself for anything. Because you are going to meet new people and different encounters.

4- I see your neighbor selling his house; At what price did they sell their house?

Buyers are likely to call everyone who looks appropriate, if there are only a few. They may even visit your street several times and visit many houses in the area. So do not be surprised if Rajab asks your neighbors' house and their pricing. Ask your real estate consultant questions about pricing and finance.

Because it is the only real estate consultant who, with knowledge and awareness and mastery of current prices, the market can determine the value of homes and answer any questions in this regard.

A few important tips on avoiding devastating questions

Be sure to choose an experienced and professional real estate consultant to sell your home

Listen to the advice of a real estate consultant

Try not to be home when visiting

Prepare yourself for any encounters and questions

Make a definite decision to sell your home