Best Places to Live: Canada Liveability Report

Best Places to Live: Canada Liveability Report

Canadians love where they live; RE/MAX Report explores some of the best places to live in Canada

• 89 per cent of Canadians would recommend their neighbourhoods to others
• Major Canadian cities are a beacon for liveability

Canadians genuinely celebrate the liveability factors — the qualities that give each homeowner the true satisfaction of his/her home within the context of a neighbourhood — when it comes to choosing a property to buy and live in. In fact, 89 per cent of Canadians would recommend their neighbourhood to others according to a recent RE/MAX survey conducted by Leger.

The latest RE/MAX report examined a variety of quality of life factors and how they impact Canadians’ home-buying decisions.

 “Housing is often a contentious topic in Canada, with affordability and inventory being persistent problems from coast to coast,” says Christopher Alexander, Executive Vice President, RE/MAX of Ontario-Atlantic Canada. “However, when buyers are looking for a home, the search begins at the neighbourhood level. And the good news is that Canadians have lots of choice when it comes to ‘liveable’ cities and neighbourhoods.” 

Six-in-10 Canadians put easy access to shopping, dining and green spaces at the top of their liveability criteria. Proximity to public transit (36 per cent), work (30 per cent) and to preferred schools (18 per cent), as well as cultural and community centres (18 per cent) fall out of the top five neighbourhood wants and expectations.

The proximity and availability of these liveability factors is so important that Canadians spend more than two-thirds of their time in their own neighbourhood. This rate is higher among Baby Boomers compared to Gen Z, Millennial and Gen X Canadians.

 “While price and value are always top of mind for buyers, there are some aspects about a home that you can’t change,” says Alexander. “These liveability factors are what make your home more than just the place you live. They are at the heart of the Canadian experience, especially when you consider the survey results.” 

RE/MAX brokers were also asked to tap into their neighbourhood expertise and rate their city on each liveability factor. 

In the west, Calgary ranked high in seven out of 11 categories, including offering good access to employment opportunities, population growth, housing supply, housing affordability and easy access to bike lanes and/or walking paths. Confederation and Nose Hill Park are two of the most popular parks in the city and the Rotary Mattamy Greenway is the cycling equivalent to the ring road. Inglewood, Hillhurst and Charleswood rank as the top three all-around liveable neighbourhoods. Edmonton also ranked high in access to employment opportunities, number of top rated/preferred schools and easy access to bike lanes and/or walking paths.

 “Despite reports of slowing economic conditions and a relatively flat real estate market in Alberta, Calgary and Edmonton shine as beacons of liveability,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “This is a promising sign for any buyers considering a purchase in either city as they continue to develop as liveable cities in their own right.” 

Toronto ranked medium for access to green spaces and parks but high for availability of big and small retail stores, population growth and access to healthcare facilities. The neighbourhoods that rated highest for access to green space and parks – Rosedale, Leaside and The Beaches – are also the most expensive. Conversely, Toronto’s most affordable neighbourhoods include parts of Scarborough and East York.

Vancouver ranked medium for availability of big and small retail stores, population growth and housing supply. However, it ranked high in availability of public transit, where the Skytrain and bus system prove exceptional; and walkability, especially in Yaletown. Main, West End and Kerrisdale are the top three all-around liveable neighbourhoods in Vancouver while Mount Pleasant, Downtown and Renfrew-Collingwood are the most affordable.

Other regions include Ottawa, where The Glebe neighbourhood is the best for walkability and public transit; Halifax, where Clayton park boasted high inventory; Hamilton, where Beasley was best for affordability; Winnipeg, where Transcona is a hidden gem neighbourhood; Saskatoon, where Nutana is the all-around best neighbourhood for liveability; and Nanaimo, where Central Nanaimo is best for affordability.

 “Liveability encompasses the many intangibles when buying and selling a home than an algorithm will never sufficiently capture. You need word of mouth and the on-the-ground expertise of a REALTOR® who has genuine locale knowledge like few others,” adds Ash. 

Key findings from the 2019 RE/MAX Liveability Report Survey

REGIONAL SUMMARIES

Halifax

Downtown Dartmouth, North End Halifax and Clayton Park rank as the top three neighbourhoods in Halifax for access to green spaces and parks, walkability, retail and restaurants and the ease of getting around/public transit. Downtown Dartmouth ranks as the top hidden gem neighbourhood for its unique amenities like access to ferry transportation and a multisport stadium.

Learn more about Halifax

Ottawa

Mooney’s Bay, Downtown Ottawa and The Glebe rank as the top three neighbourhoods in Ottawa for access to green spaces and parks, walkability, retail and restaurants and the ease of getting around/public transit. Crystal Beach ranks as the top hidden gem neighbourhood, while Orleans, Barrhaven and Blackburn Hamlet rank as the top three neighbourhoods for affordability and good supply of housing inventory.

Learn more about Ottawa

Toronto

In Toronto, the downtown core (south of Bloor Street) reigns supreme for proximity to public transit and walkability. When it comes to access to green spaces, Midtown has a variety of options to choose from, specifically North Riverdale and Leaside. For walkability, Davisville, Yonge and Eglington and Leslieville top the list. The Western Region of Scarborough is the hidden gem in the city offering great liveability and affordable housing.

Learn more about Toronto

Brampton

The neighbourhoods of Heartlake, Sandringham and Fletchers Meadow rank as the top three for access to green spaces, walkability, access to retail shops/restaurants as well as public transit. Of the three, Sandringham also has a high housing supply. Vales of Castlemore ranks as a hidden gem neighbourhood due to housing affordability of its larger size property supply.

Learn more about Brampton

Mississauga

Port Credit, Streetsville and Cooksville rank as the top three neighbourhoods in Mississauga for access to green spaces and parks, walkability, access to retail stores and restaurants, and public transit. Mineola, Lakeview ranks as the top hidden gem neighbourhood. Lakeview also ranks high in affordability. When it comes to affordability and housing supply, the City Centre, Erin Mills and Cooksville top the list.

Learn more about Mississauga

Hamilton

Meadowlands, Beasley and Sydenham rank as the top three neighbourhoods in Hamilton for access to green spaces and parks, walkability, retail and restaurants and the ease of getting around by car and public transit. Sydenham ranks as the top hidden gem neighbourhood in Hamilton for its supply of both high rises and detached homes, attracting both retirees and growing families.

Learn more about Hamilton

Kitchener-Waterloo

Doon, Stanley Park and Beachwood rank as the top three neighbourhoods in Kitchener-Waterloo for access to green spaces and parks, walkability, retail and restaurants and the ease of getting around/public transit. The downtown areas for both Kitchener and Waterloo boast affordable options and good supply of inventory.

Learn more about Kitchener-Waterloo

London

London’s neighbourhoods of Byron, Lambeth and Old South London rank as the top three for access to green spaces and parks, walkability, retail and restaurants and the ease of getting around/public transit. Lambeth ranks as the top hidden gem neighbourhood, while Carling Heights, White Oaks and Southcrest rank as the top three neighbourhoods for affordability and good supply of housing inventory.

Learn more about London

Winnipeg

Winnipeg’s neighbourhoods of Bridgwater Lakes, River Heights and West Kildonan rank as the top three for access to green spaces and parks, walkability, retail and restaurants and the ease of getting around/public transit. Transcona ranks as the top hidden gem neighbourhood, while River Park South, Sargent Park and Saint James rank as the top three neighbourhoods for affordability and good supply of housing inventory.

Learn more about Winnipeg

Saskatoon

Nutana, Stonebridge and City Park rank as the top three neighbourhoods in Saskatoon for access to green spaces and parks, walkability, retail and restaurants and the ease of getting around/public transit. Caswell ranks as the top hidden gem neighbourhood, while it, Riversdale and Exhibition rank as the top three neighbourhoods for affordability and good supply of housing inventory.

Learn more about Saskatoon

Edmonton

Old Strathcona, Oliver and Westmount rank as the top three neighbourhoods in Edmonton for access to green spaces and parks, walkability, retail and restaurants and the ease of getting around/public transit. Summerside ranks as the top hidden gem neighbourhood, while Oliver, Clareview and Hudson rank as the top three neighbourhoods for affordability and good supply of housing inventory.

Learn more about Edmonton

Calgary

Calgary’s Inglewood, Hillhurst and Charleswood areas rank as the top three all-around liveable neighbourhoods for access to green spaces and parks, walkability, access to retail stores and restaurants and ease of getting around/public transit. North Haven Upper, Renfrew, Chinook and Meadowgate Park rank as the top hidden gem neighbourhoods to housing supply, affordability and liveability factors.

Learn more about Calgary

Vancouver

Main, West End and Kerrisdale rank as the top three neighbourhoods in Vancouver for access to green spaces and parks, walkability, retail and restaurants and the ease of getting around/public transit. Main ranks as the top hidden gem neighbourhood, while Mount Pleasant, Downtown and Renfrew-Collingwood rank as the top three neighbourhoods for affordability and good supply of housing inventory.

Learn more about Vancouver

Victoria

Victoria Core, Saanich and Westshore rank as the top three neighbourhoods in Victoria for access to green spaces and parks, walkability, retail and restaurants and the ease of getting around/public transit. Estevaan Village in Oak Bay ranks as the top hidden gem neighbourhood, while Langford, Colwood and Saanich are the top neighbourhoods for affordability and good supply of housing inventory.

Learn more about Victoria

Nanaimo

Lower Lantzville, North Nanaimo and Departure Bay rank as the top three neighbourhoods for access to green spaces and parks, walkability, retail and restaurants and the ease of getting around/public transit. Lower Lantzville ranks as the top hidden gem neighbourhood, while Central Nanaimo, Uplands and Diver Lake rank as the top three neighbourhoods for affordability and good supply of housing inventory.

Learn more about Nanaimo

Gelderman.ca Real Estate Team
RE/MAX Aldercenter Realty

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Where to Turn for Advice on Your Real Estate Investment

Where to Turn for Advice on Your Real Estate Investment

No one becomes a real estate investment guru overnight. Navigating the market is often a challenge because there are a litany of risks and consequences that can heavily impact an investor’s success. No one wants to make a bad investment, but when they do, they need to carefully assess their options to determine the next best move.

By making ill-informed decisions, investors run the risk of making a bad investment even worse. The best investors try to avoid money pits at all costs, but they also seek to make the most of their real estate investment—even if it turns out to be a bad one. That’s why, success often hinges on getting the best guidance, know-how, and expertise to make the most profitable decision possible.

Being well-informed in the current market, as well as the costs and risks of a particular real estate investment, can be hugely beneficial. However, if you want to start investing in property but want to make sure that you’re doing it right, there are three sources that can help you immensely:

• Professional advice from a realtor that will help you navigate the market.
• Reputable online resources that will give you insights into financial planning, real estate markets and potential returns.
• An experienced real estate investor or professional realtor that knows the market inside and out.

A Professional Opinion

If you want to ensure that you’re making the right calls when it comes to your real estate investment, then the best source of advice is a true-blue professional. Be it commercial or residential real estate, professional and certified real estate agents have unparalleled knowledge and experience to provide you with advice for your potential investment.

While you may be versed in some of the risks associated with a real estate investment, a professional has the inside track regarding the current market, the costs and risks associated with investment property, and the best course of action to take for your specific circumstances.

Professionals have the experience that you might lack; with their know-how, they can help you with your real estate investment by providing quality advice on how to maximize profits, make the most of your investment, and avoid costly mistakes. Their job is to help you make a better investment.

They’re experts in their field; they know what works and what doesn’t. However, what may have worked before may not work now, since the market is in constant flux. This is why experienced professionals keep themselves up-to-date on industry news and current market trends. If anyone should be able to provide advice, it should be a professional with years of experience.

Online Investor Resources

Regardless of whether you’re working on a budget, looking to the Internet for real estate advice is incredibly advantageous. In today’s digital age, there are numerous online resources that can help you make a better investment. These include blogs, articles and guides written by distinguished investment and real estate professionals.

If you find articles written by professionals with years or even decades of experience, the Internet can be a hot spot for hundreds and thousands of “professional opinions.” While their words may not directly apply to your specific investment, they can helps give you a basic understanding of what you can do and what others have done before.

People flock to the Internet to seek help on a variety of topics not limited to real estate. There are various professionals that have published their advice on the web for the sole purpose of helping out other investors to make better decisions.

However, you need to be careful when searching for advice on the Internet. While the Internet is a cost-effective way of amassing knowledge, different resources may provide conflicting advice. An article may tell you to sell the property as soon as possible, while another may tell you the opposite. Don’t jump into investments too quickly. The Internet does contain a wealth of advice, but it’s important to take the time to conduct research to objectively determine the best course of action for your investment.

Research is essential to finding out what to do, especially when it comes to real estate investments. A lack of understanding can lead to poor choices and bad investments, which is why it is important to do your best in researching, understanding and assessing all possible options.

Investor Experience

The one thing that separates a savvy buyer looking to invest properly and an expert investor is experience. Experience is the key to getting the best advice. Wherever you find experience, you can receive tried-and-true advice.

Some investors underestimate the many costs and risks associated with owning a property. Lacking the proper understanding of these crucial figures can lead to a poor investment. Whether it be the help of a professional agent, the words written by a professional, or your own personal endeavors, the best advice originates from experience.

Adept and novice investors alike look to distinguished professionals for the best advice as they have the proven knowledge and expertise to maximize the potential of an investment. With a portfolio that spans years of various investments, from money pits to thriving properties, professionals have, in a sense, “seen it all.”

This is why many real estate investors, analysts and entrepreneurs use the Internet as a platform to impart their knowledge through various articles, blogs and other online resources. These professionals understand the significance of their knowledge and experiences and how helpful it may be to share it with the world.

Even top real estate investors were once novices, and when they were starting out, even they would have valued having received the advice that they provide today. However, they’ve learned from their mistakes and wish to avert anyone from following the same choices and investments that they made.

Real estate investments can be a pricey gamble. However, by turning to the right professionals, with the best advice, your calculated risk could turn into an enormous investment success story.

Gelderman.ca Real Estate Team
RE/MAX Aldercenter Realty

Visit out TEAM web site HERE www.gelderman.ca

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Bank of Canada holds interest rate at 1.75%

Bank of Canada holds interest rate at 1.75%

The Bank of Canada (BoC) has decided to hold its key interest rate at 1.75% for the fourth time straight since its last move, and has downgraded its 2019 economic growth forecast. Furthermore, in today’s interest rate announcement, BoC Governor Stephen Poloz did not make any mention of a need to hike interest rate in the foreseeable future.

Here’s what the BoC had to say:

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly two per cent and the deposit rate is 1 ½ per cent.

Global economic growth has slowed by more than the Bank forecast in its January Monetary Policy Report (MPR). Ongoing uncertainty related to trade conflicts has undermined business sentiment and activity, contributing to a synchronous slowdown across many countries. In response, many central banks have signalled a slower pace of monetary policy normalization. Financial conditions and market sentiment have improved as a result, pushing up prices for oil and other commodities. 

Global economic activity is expected to pick up during 2019 and average 3 ¼ per cent over the projection period, supported by accommodative financial conditions and as a number of temporary factors weighing on growth fade. This is roughly in line with the global economy’s potential and a modest downgrade to the Bank’s January projection.

In Canada, growth during the first half of 2019 is now expected to be slower than was anticipated in January. Last year’s oil price decline and ongoing transportation constraints have curbed investment and exports in the energy sector. Investment and exports outside the energy sector, meanwhile, have been negatively affected by trade policy uncertainty and the global slowdown. Weaker-than-anticipated housing and consumption also contributed to slower growth.

The Bank expects growth to pick up, starting in the second quarter of this year. Housing activity is expected to stabilize given continued population gains, the fading effects of past housing policy changes, and improved global financial conditions. Consumption will be underpinned by strong growth in employment income. Outside of the oil and gas sector, investment will be supported by high rates of capacity utilization and exports will expand with strengthening global demand.  Meanwhile, the contribution to growth from government spending has been revised down in light of Ontario’s new budget.

Overall, the Bank projects real GDP growth of 1.2 per cent in 2019 and around 2 per cent in 2020 and 2021. This forecast implies a modest widening of the output gap, which will be absorbed over the projection period.

CPI and measures of core inflation are all close to 2 per cent. CPI inflation will likely dip in the third quarter, largely because of the dynamics of gasoline prices, before returning to about 2 per cent by year end. Taking into account the effects of the new carbon pollution charge, as well as modest excess capacity, the Bank expects inflation to remain around 2 per cent through 2020 and 2021.

Given all of these developments, Governing Council judges that an accommodative policy interest rate continues to be warranted. We will continue to evaluate the appropriate degree of monetary policy accommodation as new data arrive. In particular, we are monitoring developments in household spending, oil markets, and global trade policy to gauge the extent to which the factors weighing on growth and the inflation outlook are dissipating.

The next interest rate announcement is scheduled for May 29, 2019.

Gelderman.ca Real Estate Team
RE/MAX Aldercenter Realty

Visit out TEAM Web Site HERE

Know someone moving ANYWHERE in the WORLD? Call us today--we know the BEST agents everywhere!!

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How to Turn Your Bad Real Estate Investment into a Good One

How to Turn Your Bad Real Estate Investment into a Good One

Making a good real estate investment takes time and patience. It takes effort and experience to really understand what makes a good long-term investment. However, bad investments are bound to happen, especially if you’re a first-time real estate investor. With the right guidance, any investor—be it a green or experienced one—wouldn’t consider a bad real estate investment as a total loss.

Even top real estate investors learned the ropes at some point, so a bad investment isn’t necessarily the end of the world; you just need to learn how to turn it into a good one.

How do you turn a bad real estate investment into a profitable one? Here are 4 real estate investment rules to consider:

• Understand your costs and risks
• Carefully plan a strategy
• Know when to cut your losses
• Learn from your mistakes

Understand the costs and risks

Your goal is to achieve the highest return on your investment, but sometimes, that is not the outcome. Property maintenance and upkeep can drain your funds, the home may require costly repairs, or you may not find a tenant to help generate rental income.

No one wants their investment to turn into a money pit. While many novice investors understand the risks associated with their investment, they might underestimate the various actual and potential costs. Renovations and repairs can cost quite a bit of money, especially when it comes to properties that require a lot of work at the outset.

Understand maintenance and construction costs, as well as the current state of the housing market. Research and expert consultation are essential steps to gain a better understanding of what is possible with a particular property.

Plan accordingly

With the right know-how and understanding, you can develop a plan to minimize your losses while boosting your gains. First, any investor needs to determine the reason their current investment is going south. Are the maintenance fees too high? Does the property require too much upkeep or repair? Do you have tenants, and are they paying what you’ll need to be a profitable landlord?

Asking yourself these questions will lay the groundwork for your plan. If you don’t have tenants, how will you find them? If the property requires too much upkeep for you to handle yourself, have you considered hiring extra help? A carefully laid-out plan will help you make the most of your real estate investment.

With a plan, you can tackle any potential problems head-on. However, you need to consider if your investment is worth keeping. If you’re looking to a sell a property that you may view as a bad investment, how could you get the best ROI possible? Is fixing all of the problems with the property worth the trouble? You always need to consider the worst-case scenario, so it’s absolutely vital to have an exit strategy.

Cut your losses

While we all want to justify our investments, find the silver lining and make the best of a bad situation, sometimes the best thing to do is to cut your losses. However, novice investors, and even sometimes experienced ones, come across what is known as the “sunk cost fallacy.”

For those unaware of the term, the sunk cost fallacy refers to our ability to commit to something—like an investment—even though the best course of action would be to stop committing. People are prone to various biases that can often cloud their judgement.

The sunk cost fallacy is one of these biases that many investors fall victim to. For example, a homeowner purchases a large property that is littered with issues. On top of these problems, they also have to spend a significant amount of time and money maintaining the property on a weekly and monthly basis. Instead of cutting their losses and selling the property, they invest heavily into fixing the numerous problems with the house, while constantly keeping up with the strenuous maintenance.

Since it’s easy to fall subject to bias, many investors need to know when to cut their losses. Investments can often be bad, but the best thing to do at times may be to drop the investment altogether. Going into an investment with an “all-in” mentality is financially dangerous; don’t lose more than you already have.

Learn from your mistakes

Even experienced investors are exposed to bad investments, so don’t beat yourself up if you make a mistake—especially if you’re a first-time real estate investor looking to get things right.

Every investment is an opportunity to learn, regardless of the outcome. When you make a profitable investment, you’ll know the various intricacies that led you to success. The same applies to a bad investment. Next time, you’ll know what to watch out for, and how to handle “surprises.”

So, whether you’ve made a good investment or a bad one, it’s important to take the time to reflect on what made the investment what it is, and what you can learn to apply to future opportunities. While you may lose some money in the process, you will have gained some knowledge on how to better invest in real estate.

Overall, the key to turning a bad investment into a good one is to take the time to think about what can and needs to be done. Turn to an experienced real estate professional for advice on associated costs, risks and market trends that would affect the purchase and the potential for return.

Regardless of how everything is resolved, you should always learn from every investment. In doing so, you can make well-informed decisions through smarter investments. Since real estate investments can be quite the profitable gamble, it’s worth learning how to spot good investments from bad ones, and how to turn even risky properties into a return on your investment.

Sources:

https://www.theglobeandmail.com/investing/globe-wealth/article-how-investing-in-real-estate-can-easily-go-sideways/

Gelderman.ca Real Estate Team
RE/MAX Aldercenter Realty

www.gelderman.ca

Know someone moving ANYWHERE in the WORLD? Call us today--we know the BEST agents everywhere!!

Serving Abbotsford, Chilliwack, Mission, Langley, Surrey and the WORLD!

Office Phone: 604-743-7653