Do your resolutions for 2022 include investing in real estate? There’s a number of different property types in the local market, and selecting the right one could help you achieve a strong return—and build an impressive portfolio. Of course, doing it well requires a bit of helpful real estate knowledge.

If you’re planning to invest in property this year, here are a few tips for your next step…

Consider new condo developments

Buying a pre-construction condo may be one of the best investment decisions you ever make. For one thing, purchasing brand new can help you budget effectively and obtain the best possible return. Unlike with resale purchases, you know the price you’re going to pay ahead of time—so you can’t get caught up in a costly bidding war.

It’s also worth noting that your investment will begin appreciating right away. You’ll pay today’s prices for a unit that will tend to be far more valuable by the time it’s completed. You’ll also usually be able to rent it out for more than the current rental value at that point, enabling you to maximize potential profits.

There are many other reasons to consider investing in pre-construction: the fact that you can select finishes and appliances that wow prospective renters to the (often) lower maintenance fees associated with new buildings. If you decide to take the plunge, there are some steps you can take to help ensure you make the most of your investment.

To start with, the neighbourhood you choose matters. An up-and-coming area (or one that will be the site of a new business park, for example) is likely to attract many tenants with access to funds for rent. For any area you’re considering, you should also learn what landlords are charging for similar units nearby. This step will help you determine what you can reasonably charge. From there, you can start doing the math to get a sense of your potential return (a knowledgeable financial professional can help).

Lastly, don’t forget to do your research to make sure the developer you’re thinking about working with is reputable. F3inding an agent who knows the local market and industry players is key!

Do you want to invest in real estate but feel concerned about the changing market? Here are some resources to help you make the best choices:

• The Market Is Changing. Is Real Estate Still A Good Investment?
• How To Sell An Investment Property
• Are Conditional Offers Making A Comeback?

Leverage your equity

 Your home may be your most significant investment. Why not make it work for you by tapping into your equity and investing in another property? 

You may be able to borrow as much as 80 per cent of your home’s appraised value and put it towards a down payment. The result will be a less hefty mortgage on the investment property (or no mortgage, depending on your circumstances). Not only that, but when you repay the loan, you’ll likely only have to cover the monthly interest—and if you want to pay it off quickly, you won’t have to worry about pre-payment limits.

One of the best ways to take this step is through a home equity line of credit (HELOC). This type of loan, which is secured against your home, provides a revolving line of credit. You can obtain funds, pay them back and borrow again (up to a certain limit). 

One of the biggest advantages of a HELOC is, you’ll only pay interest on the amounts you use. It takes some of the risk out of borrowing to buy an investment property.

Consider homes with a secondary suite

If you’re thinking of purchasing a new primary residence in the near future, consider investing in one that has space for a secondary suite. As the demand for housing grows, so does the need for this home type. One popular example is a bungalow with a spacious basement. So long as you can add a separate kitchen, bathroom and entrance (and meet the zoning requirements), you’re good to go.

Put simply, having a separate, self-contained rental residence within your home allows you to bring in extra monthly income without having to purchase (and manage) a separate investment property. 

The best part? If and when you decide to sell your home, you’ll enjoy the added value that a secondary suite can bring. These properties tend to receive higher appraisals, and many buyers are eager to purchase them. If you never sell and you’re on a fixed income one day, your suite can also help you bring in money every month and continue living independently.

Thinking about purchasing an investment property? Consider brushing up on your buying knowledge with some of these resources:

• Hidden Costs of Buying a Home You Need to Know
• What Not to Compromise on When Buying a Home
• The Team Approach to Buying a Home

Know your responsibilities

Part of owning an income property (or more than one) is acting as a landlord. To ensure that this process goes smoothly, it’s important to be prepared. Here are a few things to keep in mind.

First off, there are some questions you’ll want to ask yourself before acquiring a tenant. One of the biggest is, do you have the bandwidth to manage the property yourself, or will you be relying on a property manager? Consider the time and knowledge requirements carefully.

Next, be aware that screening tenants is crucial. Protect yourself by performing credit checks and speaking to relevant references (including employers and past landlords). You should also ask potential renters plenty of questions to get a sense of their character and circumstances.

In addition, you’ll want to ensure that you know your rights and responsibilities. Reviewing Ontario’s Residential Tenancies Act will help ensure that you go into becoming a landlord with all the information you need. 

Are you ready to start growing your real estate investment portfolio? We can help you find the perfect property—simply get in touch to get started!

 The real estate market in Waterdown and Burlington over the past 18 months can only be described as red hot.

Prices in the area increased by 27 per cent from November 2020 to November 2021, bringing the average sale price to $911,673, according to the Realtors Association of Hamilton-Burlington.

The question many home sellers and buyers are asking is what is in store for 2022?

“We are anticipating a strong market in real estate in 2022, though likely not with the same massive increases in home values,” says Drew Woolcott, broker and team lead of Woolcott Real Estate.

“The growth in the past year is difficult to sustain, and there are some factors at play that should help slow things down a little bit,” says Woolcott.

Woolcott cites the projected Bank of Canada overnight rate increases, potentially moving from 0.25 today to 1.5 per cent by the end of 2022, and the fundamental issue of supply not being resolved within the next twelve months.

“Another thing that adds some uncertainty is when, or if, the proposed Liberal policies that are meant to slow down the market and lend a helping hand to first time buyers will take place.”

With all these factors considered, Woolcott predicts the average home price in the Burlington and Waterdown areas will increase by 10 to 12 per cent. He also anticipates that the number of actual transactions will be down by the same percentage.

“The biggest issue affecting the real estate market right now is supply,” says Woolcott.

According to RBC, 2021 had the largest number of housing starts since 1977.

However, Woolcott points out that this will help remedy the situation in 2024 and beyond, but not right now. Even if the government were to loosen restrictions on building and density, it would not be an instant solution.

“If you are looking to purchase a home in the next year, it will still be tight market. I recommend working with an agent who is experienced in tough negotiations and is well-versed in the market you are purchasing in to come out on top in 2022.”

Are you looking for technology that can help you up your real estate game? You’re not alone. In the last few years, innovation has taken the industry by storm. It’s led to better service, elevated marketing and greater efficiency. Leveraged correctly, it could do the same for you, too. 

Are you wondering which technology to start using right now? If you’re thinking of adopting a few helpful, easy-to-use apps, you may want to consider making it part of your new year’s resolution.

Here are five real estate apps to start making use of in 2022…

1. Calendly

Real estate agents spend countless hours dealing directly with clients, and our schedules can get a little hectic. All too often, scheduling conflicts arise. Fortunately, Calendly can help. This incredibly handy app makes it easy to coordinate with buyers and sellers.

There’s no better way to find times that work as well for your clients as they do for you. Whether you’re booking a consultation, listing appointment, or showing, Calendly has you covered. It can also be easily integrated with whatever scheduling app you currently use. 

Wondering what to look for in a real estate team? Check out our guide to finding the right team here.

2. Quickbooks

Quickbooks has been around for a while, but it’s just as helpful now as it’s always been. 

This bookkeeping software makes it incredibly easy to track expenses and inventory, dole out paycheques, record payments and more. With the mobile app, you can take Quickbooks with you on the go—and manage all things financial, no matter where you are.

One look at your phone, and you can see a few key metrics to get insight with zero hassle. It doesn’t get more convenient than that!

3. Buffer

When it comes to marketing your real estate business, social media is a must. It’s one of the best ways to reach buyers and sellers where they’re spending their time. By sharing fresh, helpful and attractive content with them, you can build trust and showcase your expertise.

Of course, it’s not just a matter of providing high-quality content. It’s also about putting it out there consistently. That’s where Buffer comes in. This social media scheduling platform allows you to set up blog posts to publish automatically, and that’s not all. With the Buffer app, you can engage with your audience and assess your analytics, all from the palm of your hand.

Interested in learning more about our team? Find out whether joining us is right for you with our helpful resources.

• The Woolcott Advantage
• Our Team
• Woolcott Real Estate Opens New Office in Downtown Hamilton

4. Canva

It’s no secret that a picture is worth a thousand words, especially in real estate. That said, beautiful photographs are just one piece of the puzzle. To make your mark, you also need visually-appealing graphics for your social media and marketing materials. 

While there are times when working with a graphic designer or creative team makes sense, you may find yourself in situations where you need to put something simple together on your own. That’s when you should reach for your mobile device and make use of the Canva app.

Put simply, this is the easiest way to create professional-looking graphics and video on your own. It’s so simple to use that even a complete novice can get the hang of it.

5. Google Analytics

To ensure that your website is doing its job, you need to be able to track it. By keeping track of traffic to your website—including where it’s coming from, the paths users are following through your webpages, and how much time they spend—you can get invaluable insight. Google Analytics allows you to learn all of that and more, which means you can make changes to improve performance. 

The Analytics app optimizes insight for your mobile device. Report layouts are easy to scan at a glance, and making changes to your account is simple to do with the tap or swipe of a finger. 

If you want to make 2022 your most productive year ever, consider adopting technology that saves time and helps you optimize the experiences your clients have with you and your brand. The apps above represent some of the most useful, but there are plenty of others out there—so do your research and choose strategically!

Looking for the right place to grow your real estate career? Consider working with Woolcott Real Estate. Get in touch to learn more here.

With housing supply still at record lows, we are currently in one of the most competitive seller’s markets on record. Buyers simply don’t have as many options as they did in previous years, and their demand for real estate is well-outpacing current inventory. 

In a market like this, one excellent option for homebuyers and investors alike is the preconstruction sector. Burlington is also experiencing a pre-construction boom right now with several new developments in the works. 

Did you know that Burlington was voted the best mid-size city in Canada in 2019 by MacLeans Magazine? 

Are you thinking about investing in a Burlington pre-construction home? Here are six new developments in Burlington to get excited about:

1. Martha James by Mattamy Homes

Located at 2088 James Street, Martha James by Mattamy Homes is a stunning example of comfort and convenience combined. Situated in a mature park side neighbourhood just steps away from the hustle and bustle of Downtown Burlington, Martha James is ideal for buyers who want to stay close to the action but retain the comfort and space of living close to nature. 

Lake views and luxurious building amenities such as a rooftop patio, fitness centre, community garden and concierge-attended lobby are only a few of the excellent features you get at this fantastic condo opportunity. 

Priced starting at the low $500,000s, Martha James also features nine-foot ceilings throughout and thoughtful open-concept floorplans, perfect for buyers seeking a contemporary home in one of Burlington’s most desired locations. 

2. BeauSoleil Condos by Carriage Gate

Downtown Burlington is getting another exciting new development with BeauSoleil Condos by Carriage Gate. Consisting of 291 units across 29 storeys, BeauSoleil Condos offer a great opportunity for buyers looking to capture the high-rise condo lifestyle. 

Perfectly located at 2069 Lakeshore Road, the development offers fantastic lake views and proximity to everything you could ever need. BeauSoleil Condos is within walking distance to parks, shopping, dining and more, ideally combining comfort, convenience, and entertainment into one great building.

With prices starting in the high $400,000s, BeauSoleil Condos perfectly combines quality and value. 

Still on the fence about pre-construction? Read our blog Resale Home or Pre-Construction: Which is Right For You here.

3. Gallery Condos & Lofts by Carriage Gate

As the second contribution from Carriage Gate on this list, Gallery Condos & Lofts is one of the most highly anticipated condo developments in Burlington right now. Breaking ground in 2019, this project was inspired by local artists and the desire to live a beautiful, meaningful life. 

With 22 storeys and 161 units, Gallery Condos & Lofts is an exceptional luxury tower with prices ranging from the high $400,000s all the way up to $2 million. Perfectly appointed at the corner of Brant and James Street, Gallery Condos & Lofts is right across the street from City Hall with excellent city and lake views. 

The building features amenities such as an “elaborate” party room, yoga room, billiard room, indoor pool, rooftop lounge and more. With mixed-use retail at the ground level, residents of Gallery Condos & Lofts experience unparalleled luxury and convenience in the heart of Burlington. 

4. Millcroft Towns by Branthaven

If sky-high condo living isn’t your cup of tea, Millcroft Towns by Branthaven might be made for you. In fact, these bespoke custom towns in the covetable upper Burlington community of Millcroft can literally be built for you. 

With endless options and luxurious finishes and details, Millcroft Towns offers exceptional options such as a range of floorplans, custom interiors, optional elevators, double car garages and more. With absolute control, you have the opportunity to specifically craft your lifestyle. 

Millcroft Towns floorplans range in size from 1,730-2,530 square feet and feature private backyards and proximity to exceptional country club amenities. 

Have you heard of assignment sales? They’re a big part of the pre-construction market. Read our guide to assignment sales right here.

5. 490 Plains Road East by National Homes

The condo and townhouse development at 490 Plains Road East is a highly-anticipated development set to be complete in 2022. This is a midsize building with eight floors and 386 units. 

The building experts at National Homes paired with Kirkor Architect + Planners to conceptualize and design the building, and as a result, the condos feature a stylish, functional and modern design that appeals to a wide range of buyers. 

490 Plains Road East is also conveniently located close to the Burlington Power Centre as well as numerous conveniences like local transit stops, shopping, dining and entertainment. 

6. Fairview GO by Valour Group

Fairview GO by Valour Group is a proposed two-tower, 19-storey residential development located next to Burlington’s Appleby GO Station. With 378 units, this new development is in the much sought after neighbourhood of Brant Hill in Burlington north. 

Close to many convenient amenities such as public transit and access to the highway, Fairview GO is the perfect opportunity for professionals. Building amenities include ground-level mixed retail and the building is within walking distance to shopping, dining and entertainment. 

Whether buying a resale home or a pre-construction property, a local Burlington real estate agent can help you make the right decisions to benefit your unique situation. Learn more about working with us right here:

• Why You Should Work with a Local Agent
• The Woolcott Buying Advantage
• Woolcott Buying Resources
• Become a Real Estate Investor

It’s a pretty widely accepted that real estate is a seasonal industry. In most cases, the busiest periods tend to align with the school year, which also happens to be when the weather is nicest!

So is it ok to sell your home during the winter? We are strong believers that yes, it is! Although the experience of selling your home during the winter months is certainly different than selling at peak times, it’s still possible to successfully sell your home in the wintertime. 

Here’s what you need to know. 

First, The Challenges of Selling in the Winter 

Before we get into the benefits of selling your home in the winter, let’s take a quick look at some of the main challenges you might face. 

The Weather 

Inclement weather like snowstorms and ice rain not only puts a damper on your holiday plans but can also create dangerous driving conditions that some buyers might not want to risk. You may see an increase in rescheduled or cancelled showings compared to other times of the year. 

Holidays 

Speaking of holiday plans, you might have to be more flexible with your celebrations if you plan on selling over the holidays. Although your agent will do their best to accommodate your schedule, it’s certainly harder to make plans in advance when selling a home. We recommend making plans to have holiday dinners elsewhere (and it saves you the hassle of hosting!).

The Property

Many buyers prefer to buy a home in the spring or fall because there is no snow covering the ground and they can clearly see what the property looks like. It’s one of the reasons why we recommend taking listing photos in the summer months to capitalize on the beautiful and lush trees and grass. Not knowing what’s under all that snow might be a deterrent for some buyers. 

Wondering how to prepare your home for a winter sale? Start with our Ultimate Winter Checklist right here.

So What are the Pros of Selling During the Winter?

There Are Fewer Buyers, but They are More Motivated

Most buyers tend to plan their moves around the school year because it leads to fewer disruptions in their lives. This means that during the busy seasons, the market is flooded with buyers all vying for the same thing. 

In the winter, it won’t surprise you to find out that there are fewer buyers in the market actively looking for a new home. However, of those few buyers who are looking, they are much more motivated to take action. 

Winter buyers are typically looking for a quick sale. They might be working with a job change, relocation or lifestyle changes that require them to find a new home ASAP. 

Sellers can use this urgency to their advantage, negotiating more favourable terms, closing and even a higher asking price for buyers who are eager to make a move. 

Fewer Properties For Sale Also Means Less Competition

In addition to having fewer buyers in the market during the winter, we also see reduced inventory. 

Many people will either list in the fall or wait to list in the spring. So if you decide to sell during the winter, you are not only capitalizing on highly motivated buyers, but you are also going to stand out because of the limited available inventory at the same time. 

Lock in That Mortgage Rate

Experts are predicting that mortgage rates are going to spike in the spring of 2022. Savvy buyers know that this means they should get locked in at a low-interest rate and get pre-approved now before things go up. 

The only issue? Mortgage rates on pre-approvals come with a time limit. Typically the expiry on the rate is between 30-90 days. This means if you get pre-approved for a mortgage in December, the latest you can buy at that low rate would be February. 

Selling your home with Woolcott Real Estate has its definite perks and advantages. Take a look at some of our selling pages here:

• The Woolcott Selling Advantage
• Why Now is a Great Time to Sell Your Home in Hamilton
• How Sellers Can Make the Most of a Hot Market

Considerations to Make When Selling Your Home During the Winter

Selling during the winter is entirely possible and for some buyers, it’s actually the right move to make. But there are a few considerations you should make when preparing your home for a winter sale. Here’s some food for thought:

• Ensure that your driveway and walkways are plowed, shovelled and de-iced for safety reasons. 
• You can still maintain great curb appeal by making sure your yard looks great with well-maintained landscaping, clean gutters and timeless holiday decor. 
• Speaking of holiday decorations, it’s best to keep things traditional and minimal to appeal to a wide range of buyers. 
• Make sure your furnace, plumbing and electrical are all functioning properly. There’s nothing worse than hosting a showing and having the furnace give out. 

If you’ve been considering the idea of listing your home for sale recently, chances are you’ve got a certain price in mind that you want to receive for it — even if it’s only within a ballpark range.

You might be taking into account things like the age and size of your home, how much you paid for it initially, how much money you’ve invested into it in the way of renovations and repairs, and even what your neighbours’ homes have sold for recently too.

However, there are many other factors that go into determining a home’s current market value — especially when you consider they rely on external factors that can change day-by-day. That’s why when it comes time to sell your home, it’s important to gauge your initial expectations and wait to receive a professional home evaluation before fantasizing about your potential profit.

To learn more about home market evaluations and what goes into determining the current value of your home, let our comprehensive guide below walk you through everything you need to know.

The Importance Of A Home Market Evaluation

No matter which side of a real estate transaction you might be on — whether as a buyer or a seller — a professional home market evaluation can prove to be extremely useful to you over the course of your transaction.

For sellers, a home market evaluation can be used to help you accurately develop your pricing strategy. By entering the market with an attractive and competitive list price for your home, you can generate immediate interest in your listing among buyers, which in turn, will hopefully help to generate a bidding war between those most motivated to purchase your home.

From a buyer’s standpoint, receiving a professional home evaluation of a property you’re interested in purchasing can help you determine whether or not the listing is priced fairly and if you’re being deceived into paying more for it than it should currently be worth.

Either way, an accurate home market evaluation from a reputable, impartial professional will eliminate any obscurities or inaccuracies when it comes to a home’s current market value. Whether that means the seller’s initial estimate of their home’s value was an underestimation or an overestimation, a home market evaluation takes the guesswork out of the equation.

Finding a property that presents exceptional value for money and is within your budget is key to making a shrewd long-term investment. If the thought of buying a new home is on your mind, learn more about how we can help you make a smart real estate purchase via the links below.

• Our Buying Advantage
• Find Your Dream Home

The Use Of Market Data For Home Evaluations

Home worth evaluations also lean heavily on the use of up-to-date market data and statistics to help inform their estimate of a property’s current value.

As Realtors® have insider access to the most recent housing statistics and market data for specific geographical areas, they can cross-reference these findings to strengthen their accurate estimates of what a new listing’s market value should be.

In order to do so, a thorough database search of all homes listed or sold near the property is conducted to include the following data:

1. Active Listings: Because sellers can ask for whatever dollar amount they want, homes currently for sale do not reflect market value until they sell. Active listings are useful if they are direct competition with your home.
2. Pending Listings: Since pending listings have not yet closed, the actual sold price is still not available. Pending sales cannot be used as a comparable sale, but can be used to indicate the direction of the market.
3. Sold Listings: Sold listings provide the hard data for comparable sales, which can be leveraged to determine the market value of other homes including yours.
4. Cancelled Listings: Although there are many reasons why a home may have been taken off the market, one of the most common reasons is because the asking price was too high. These are good warning signs for overambitious sellers.
5. Expired Listings: These listings reflect homes that did not sell, which could be the case if the home was overpriced. Generally speaking, the longer a home sits on the market, the better an indication it is that the price doesn’t reflect fair value for the property.

Interested in seeing what the current listings in your local area are priced at? Find out by visiting Our Listings page here.

Examining Comparable Sales

Using the listings of comparable sales, homes are narrowed down to those that most closely resemble the home you’re trying to purchase or sell. Factors such as location, square footage, age of construction, proximity to local amenities, upgrades, and the overall condition of your home are taken into consideration when comparing it to similar properties.

If multiple homes in your neighbourhood comparable to yours have recently sold around the $1 Million range, for example, that might mean you could expect to receive a similar amount for yours. If you’ve got a much more impressive and updated home in comparison to those, that means you could expect to receive more than the average $1 Million price range — and vice versa if your home is in a comparably worse condition.

This is why in the world of real estate, location is among the most important factors when determining whether or not to make an investment in a property. Just because one home might currently be in better condition than another, if the less desirable home is in a better neighbourhood, it could pay higher dividends when you eventually choose to sell.

Are you inspired by recent activity in your local market to list your home for sale? Find out how we can help you receive the best potential value for your property by reading through our informative links here:

• Our Selling Advantage
• Why Now Is A Great Time To Sell Your Home In Hamilton
• Sell Your Home

Receive A Free Home Evaluation With Woolcott Real Estate!

Over the last couple of years, the Hamilton-Burlington housing market has seen some record-breaking prices when buying or selling a home. In a market such as this, you want to be extra cautious that you don’t overpay for a new property; yet you still want a fair price when you sell your own home. However, this can be a tricky balance to obtain.

That’s why it’s now more important than ever to have a knowledgeable Realtor® with comprehensive local experience working with you on your upcoming real estate transaction in order to help you determine the accurate market value of a home.

Why trust anyone but Woolcott Real Estate to provide you with this valuable information? As knowledgeable experts on housing values and trends — especially pertaining to the Hamilton-Burlington real estate market — Woolcott Real Estate. can help you buy or sell a home at the right price.

Interested in learning about the current value of your home is in today’s market? And at no cost and with no obligation? Sign up for a Free Home Evaluation here to get started.