💯 The Top 100 REALTORS® Home Buyer Trusted Tips

Learn How Working with a Local REALTOR® Helps Home Buyers Avoid Sticky Situations in Today’s Housing Market

Buying a home is one of the biggest financial and emotional decisions Canadians will ever make, and many buyers feel overwhelmed long before they begin packing. A new national initiative from the Canadian Real Estate Association (CREA), called Tape Tips, is helping change that. This creative program turns a simple roll of packing tape into a powerful tool—featuring 100 practical home-buying tips from REALTORS® across the country. For buyers here in Guelph and Area, this initiative reinforces the value of working with an experienced REALTOR® who can offer customized advice tailored to local neighbourhoods, pricing trends, and competitive conditions. Tape Tips focuses on nine categories that matter most today—budgeting, strategy, timing, location, and more—all areas where a knowledgeable Guelph REALTOR® can make a major difference. Each tip is short, memorable, and designed to help buyers stay informed and avoid costly mistakes. If you’re preparing to make a move, the right guidance can turn a stressful process into an exciting milestone—and help you start packing with confidence.

💯 The Top 100 REALTORS® Home Buyer Trusted Tips

#1 - When it comes to location there are three essentials to look for: how close you are to work, amenities and fun.
#2 - Location is most important when it comes to your daily quality of life. Important things to consider are convenience in terms of proximity for shopping or commuting as well as school zones.
#3 - It sounds obvious but always make sure you try to view a property twice. It’s amazing what you’ll see the second time around.
#4 - Ask how old the roof is. Some insurance companies won't insure the roof if it's more than 10 years old.
#5 - Making an offer is about building trust between all parties. Think of it like a first date, you may only get one chance to make a good impression so be honest and fair.
#6 - Easements can haunt you after your house purchase. Your REALTOR® can help make sure there aren’t any hidden things to worry about.
#7 - Come with an open mind because what may not look like the house for you on a screen may end up being exactly what you were looking for.
#8 - Your opinion matters most. What's best for others isn't necessarily what's best for you, it’s your decision and you need to be comfortable with it.
#9 - When negotiating, try to keep your emotions out of the process. The house has no feelings and that should be the focus.
#10 - Never skip a final walkthrough. It’s your last chance to verify repairs and ensure that everything’s in order so that you can avoid unpleasant surprises.
#11 - One way to help define needs over wants is to focus on layout, condition and location more than appearance or trendy finishes.
#12 - Take everything step by step. Buying a home can become overwhelming and your REALTOR® is there to help you throughout the process.
#13 - Look for features that increase home value over time, such as energy-efficient upgrades or proximity to future developments like transport links or new schools.
#14 - Understand and account for all closing costs upfront. You need to budget beyond the down payment to avoid surprises once you’ve moved in.
#15 - Make sure that you feel good being inside the property. Checking the boxes of what you need isn’t enough, ask yourself if this is a home you’d be excited to host a dinner party in.
#16 - In a competitive market, being pre-approved for your mortgage can give you the edge you need to secure the property you love!
#17 - Ask your REALTOR® to check for local zoning and development plans before making an offer. That quiet green space behind your future home may have been approved for a condo building.
#18 - Explore every neighbourhood to see if it’s gentrifying. Are people renovating? Buying in an up-and-coming neighbourhood could increase your home’s value over time.
#19 - Focus on long-term value, not just first impressions. Location matters more than staging.
#20 - This doesn’t necessarily have to be your forever home. It can be a stepping-stone to get to the home of your dreams.
#21 - One important feature often missed by buyers is the grading/slope of a property. With extreme weather increasing, having appropriate grading can save thousands in damages.
#22 - Moving is expensive, so try to forecast what your needs will be for the next 10 years. "Future proofing" your purchase means you won’t have to move again in a couple of years.
#23 - Getting pre-approved helps you stick to your budget to stay realistic and confident throughout the home buying process.
#24 - When buying a rural property or cottage, it's best to find a REALTOR® that lives in the area and is knowledgeable about septic systems and wells.
#25 - Always get a home inspection, even for a brand-new build. Not only will it give you peace of mind, but it can also help you in the final negotiations.
#26 - Remember that the process of buying a home is a marathon, not a sprint. Don't get discouraged and don't settle until you find something that meets your needs.
#27 - When you buy and sell in the same market, timing becomes less important—prices affect both sides, so the relative cost often stays the same.
#28 - Working with a local REALTOR® who knows the area helps you understand the value of not only the street but the location on the street.
#29 - Patience is essential. It’s so easy to get caught up in the stress of the process so don’t feel pressured to settle for less.
#30 - Even if there aren’t multiple bids on a home you like, writing a heartfelt, personal letter to the seller can go a long way to help negotiations go smoothly.
#31 - Be ready and be prepared. Know your buying power early so you can act fast and confidently when the right home hits the market.
#32 - Meet your potential neighbours and ask them about the neighbourhood. Are they happy? What would they change about it? Neighbours can tell you everything.
#33 - It’s not always a good strategy to buy the most expensive house on the street. It may be hard to get your money back when selling.
#34 - Affordable comfort beats over-stretching for perfection, every time.
#35 - Don’t stress about trying to time the market — the best time to make a move is when it feels right for you.
#36 - Trust your nose when looking at properties. Strong smells may indicate a mould problem or indicate that the seller is trying to cover up a problem.
#37 - When you’re looking to buy, don't call the sign on the lawn. Make sure you are working with your own REALTOR® who will protect your interests.
#38 - Try to get into the market as early in life as you can in order to maximize your long-term growth in equity.
#39 - Flexibility is key, especially in a hot market. Look for different areas and property types to open up your search criteria.
#40 - When visiting a home, bring a bouncy ball to check if the house is tilted to one side. This is especially important in the case of non-carpeted floors.
#41 - If you’re looking at buying an older home, make sure you know how much the fuse box is rated for (100 or 200 amps) and whether the wiring needs to be replaced.
#42 - You can change almost anything about a house except its location and its lot.
#43 - When looking to buy, think like a landlord. If your financial situation changes, could you easily rent your place out to cover the mortgage? Treat your home like an investment.
#44 - In general you can follow the 80/20 rule for most houses. 80% of features are critical. 20% are cosmetic and can be modified.
#45 - Don’t overextend yourself financially to buy your dream home. You should always leave room in your budget for emergencies, repairs, and life changes.
#46 - It sounds basic, but a good house always starts with a good foundation. Start every visit by checking the condition of the foundation.
#47 - Get pre-approved before you start house hunting. This not only helps you understand your true budget, but also strengthens your offer when you find the right home.
#48 - Try to view as many different properties as possible, you’ll find yourself re-thinking what is important. It helps narrow down what is really important to you as a buyer.
#49 - Always pay for a professional home inspector.
#50 - Think like an investor and always keep one eye on future profitability. Even if you’re buying a home to live in, think about how much it could appreciate - or depreciate - over time.
#51 - Consider the size and shape of different rooms for the layout of furniture. Sometimes doorways and windows limit the amount of wall space available for couches and TV viewing.
#52 - Renovations can easily get expensive. If you’re not totally confident in your renovation abilities, consider a modern turnkey instead.
#53 - If you’ve already sold your house, resist the urge to buy something that’s not quite right. You can always rent for a while until you find the perfect place.
#54 - Even if buying a new home directly from developers, it’s still important to work with a REALTOR®. You can rely on them to always have your back.
#55 - Make sure you have a pre-approval from a lender or a mortgage broker before you start shopping so you know exactly how much you can qualify for.
#56 - Be strict with yourselves about what you need versus what you want and be flexible. You may never find the "perfect home" but that’s okay if it meets your needs.
#57 - Always check the age and condition of the HVAC system. This can cost thousands to upgrade.
#58 - It’s a cliché but location matters. You can modify everything about a home… but you can’t change its location.
#59 - Once you’re pre-approved it sometimes pays to wait. Keep an eye on mortgage rates and lock in when it's the right time.
#60 - Consider starting every home visit in the basement. This is where you can get a good idea of the overall condition of the home and see potentially expensive problems.
#61 - It probably won’t be a dealbreaker but it can be a good idea to measure your favourite pieces of furniture to see if they will fit in any of the homes you’re interested in.
#62 - Don’t book the movers or order the pizza party for closing day, always wait until the day after.
#63 - If you’re buying a new-build in a development make sure you’ve researched the builder and visited other places they’ve built.
#64 - Always try to look past the staging of a home you’re considering. Good staging can make a house look more attractive than it actually is.
#65 - If your timeline allows, try to schedule a walkthrough after the snow melts. Hidden issues often reveal themselves in spring.
#66 - Always shop around for your mortgage. A good mortgage broker should search the market for the best overall deal for you.
#67 - Location is key but don’t ignore the property itself. Fishbowl backyards are hard to sell.
#68 - Make sure you visit a property at different times of the day, especially if it’s located on a main road or near a school.
#69 - Buying a home is likely the biggest financial decision you will ever make. Make sure you find a REALTOR® you trust.
#70 - Get pre-approved so that when the time comes you can make an offer with confidence.
#71 - When entering negotiations, go in knowing that both sides may end up a little unhappy. That’s OK.
#72 - Remember that the buyer determines what they will offer. Your REALTOR® can help guide you using market data.
#73 - Do a rough calculation for any renovations you’ll need to do, especially if it’s an older home.
#74 - If the house you’re interested in has been recently renovated, ask your REALTOR® to make sure there are no outstanding permits.
#75 - Buying a beautiful house in a neighbourhood where neighbours don’t care for their homes can decrease your home value.
#76 - Date the rate, marry the purchase price.
#77 - If you’re looking at condos, fully understand the condominium documents—especially the reserve fund balance.
#78 - Make sure you’ve calculated what the monthly payments would be if you buy at the highest price you’re pre-approved for.
#79 - Be as flexible as possible with price, closing date, and inclusions.
#80 - It’s never too early in the process to start working with a REALTOR®.
#81 - Knowledge is key. Research neighbourhoods for schools, transit, amenities, and resale value.
#82 - Make sure you feel good about all of the professionals you work with.
#83 - You should try and have at least three months of mortgage payments in savings for a rainy day.
#84 - This is often overlooked but the land itself is almost as important as location.
#85 - Thinking long term can help you make decisions if you know where your life's headed.
#86 - Understand what a property is worth to you before you make an offer.
#87 - When it comes time to make an offer, work with your REALTOR® to ensure you’re in a position to make an offer with no conditions.
#88 - Whenever possible, book showings and inspections when it’s pouring rain.
#89 - Choosing the right REALTOR® is an essential part of the process.
#90 - Start the process well in advance of your target move-in date.
#91 - Always find out the type of plumbing used in the house, especially if it’s older.
#92 - Don’t just get pre-qualified—get pre-approved.
#93 - Make sure you take advantage of all the first-time home buyer privileges.
#94 - Buy only when you can afford to and when it makes sense for your situation.
#95 - Consider setting aside funds as a security blanket so you don’t miss a payment.
#96 - Don't skip the home inspection. It can save you thousands.
#97 - When buying a home, try to keep your current needs in focus instead of forecasting several years ahead.
#98 - Check your credit report early for any errors that might affect your mortgage rate or approval.
#99 - Pay attention to where the sun rises and sets when visiting a property.
#100 - Ask about any past insurance claims on the property.

Adam Stewart | M.Mktg, B.IntSt, B.Bus, DipBA Real Estate Sales Representative | Chestnut Park West

📅 Let’s talk real estate—click here book your time now.

Direct: +1 519 265 2602

Office: +1 519 804 7200

adam.stewart@chestnutparkwest.com

www.adamstewart.realtor | www.adamstewart.ca

Chestnut Park Realty Southwestern Ontario Ltd., Brokerage

28 Douglas Street, Guelph ON N1H 2S9

50-75 King Street S., Waterloo ON N2J 1P2

🏡🔑 How to Buy a Home in Guelph — The Only Guide You’ll Need (2026 Edition)

Thinking about buying a home in Guelph? Whether you’re a first-time buyer, relocating from another city, or searching for an investment property — this step-by-step guide will walk you through the entire process, from budgeting to closing — using real local market data and practical advice.

1. Understand the Guelph Market in 2026

• Guelph continues to attract buyers due to its proximity to larger urban centres and appealing neighbourhoods.

• Instead of expecting massive pre-construction surges (like in bigger cities), many buyers are focusing on resale homes, condos, and rural/rural-edge properties — so supply and demand can vary widely depending on neighbourhood and type.

• Tip: Start by narrowing down what you need vs what you want (e.g., neighbourhood vibe, commute time, home size, resale potential).

2. Decide What Type of Buyer You Are

First-time buyer

Understand minimum down payment (often 5–20%), get pre-approved for a mortgage, be realistic about budget, consider condos or smaller resale homes.

Up-sizing family

Evaluate neighbourhoods for good schools, parks, commute times, and backyard/space.

Investor or rural-property seeker

Look into smaller towns around Guelph or rural properties — but factor in commute, local services, and resale liquidity.

Downsizing / Retiree

Focus on maintenance-free properties (condo or smaller bungalow), accessibility, proximity to transit and amenities.

3. Getting Pre-Approved & Understanding Costs

• Before you even start house-hunting: get mortgage pre-approval — it sets your realistic budget and strengthens your offer.

• Down payment matters: less than 20% usually means mortgage loan insurance, which increases costs.

• Don’t forget other costs beyond purchase price — closing costs, legal fees, land-transfer tax, home inspection, moving costs, minor repairs or updates.

• Pro tip: Build in a 5–10% “buffer” on top of purchase price for post-move or renovation costs — especially if you’re buying a resale home.

4. Choose Neighbourhoods Based on Lifestyle & Priorities

• Guelph offers a variety of neighbourhoods: from downtown condos to family-friendly suburbs or quiet rural-edge areas.

• Think about what matters: commuting time, schools, green space, access to amenities, future resale potential.

• If you’re open to rural properties or small towns nearby — you could get more value (space, land) — but balance that with commute, services, and future resale liquidity.

• I can share a neighbourhood-by-neighbourhood comparison — with pros/cons — to help you decide.

5. What to Look For When Viewing Homes

• Always do a thorough home inspection — especially with older or rural properties. That gives you a chance to renegotiate or walk away if major issues pop up.

• Check for seasonal readiness — Guelph winters are real. Look at insulation, heating, windows, roof, driveway access (snow removal, ease of entry).

• Think re-sale value — even if buying for yourself: layout flexibility, proximity to transit/schools/amenities, good neighbourhood vibes, ease of maintenance.

• Consider long-term potential: for families growing, or if you may resell later.

6. The Buying Process: Step-by-Step

1. Get pre-approved with a lender ✅

2. Define budget, needs & wants (type of home, neighbourhood, must-haves) ✅

3. Start searching & touring — condos, resale homes, rural properties ✅

4. Do due diligence: home inspection, neighbourhood check, cost-estimation ✅

5. Make an offer (with realistic conditions) — be ready with deposit, financing, inspection clause ✅

6. Closing & moving in — account for closing costs, legal fees, potential renovations ✅

7. Common Mistakes To Avoid (And How to Stay Ahead)

• Overlooking all additional costs (closing, inspections, renovations) — always budget more.

• Falling in love with a house before doing inspections or evaluating neighbourhood practicalities.

• Not getting pre-approved — which often weakens offers or leads to surprises.

• Skipping mortgage-approval process or underestimating monthly costs (insurance, taxes, maintenance).

• Failing to think long-term: resale value, flexibility, future life changes (kids, commuting, selling).

8. Why Working with a Local, Experienced Agent Makes a Difference

• A local agent understands neighbourhood nuances — what schools are good, where families tend to live, which areas hold value.

• They have access to listings before they hit public sites (or “coming soon”), especially resale homes or rural properties.

• They help you navigate competitive offers, inspections, financing, closing — and guide you with local tips.

• With the right agent, you save time, avoid pitfalls, and often end up with a home that truly matches your lifestyle & budget.

9. My Promise to You (Why I’m a Good Fit)

On adamstewart.ca, I commit to:

• Personalized support: I’ll listen to your needs and tailor neighbourhood & home suggestions accordingly.

• Transparency: I’ll walk you through all costs, risks, and realistic budgets upfront.

• Local insight: As someone familiar with Guelph’s market and surrounding areas, I’ll share my honest take on what works and what doesn’t.

• Long-term thinking: Helping you buy now — with future resale, lifestyle, and family needs in mind.

10. Next Steps — Your 5-Minute “Homebuying Readiness” Checklist

• Get pre-approved with a lender

• Define “must-haves” vs “nice-to-haves”

• Choose 2–3 preferred neighbourhoods

• Get clear on your total budget (purchase + extras)

• Reach out to me — I’ll send you a curated list of available homes that match your criteria

Ready when you are. Let’s make your next home in Guelph — or nearby — the right one, at the right price.

The Impact of COVID-19 on Real Estate Showings in Ontario

As we enter the second week of the COVID-19 state of emergency declaration, one thing rings true — we are all in this together with the focus of individuals and communities coming together to practice social distancing (physical distancing). As a result we have naturally seen showing activity fallen off from the same period in 2019 as the impact of COVID-19 continues to grow. ShowingTime has provided data that shows weekly showings through the ORTIS system.

Through mid-March, year-over-year showing activity was higher nationwide compared to 2019. The current downturn is indicative of the industry’s response to COVID-19, which is changing daily. This chart daily to reflect the most recent data on showings.

For more information on the impact of COVID-19 on real estate showings across North America, please visit: https://www.showingtime.com/impact-of-coronavirus/

Source: ShowingTime (Impact of COVID-19 to Real Estate Showings in Ontario)

While the MLS® Rules require all listings in the MLS® System to be immediately available for showings – at the moment sellers and Realtors® are being creative, embracing technology, to preview homes, but the consensus at this time is to not show homes until further notice.

---

Information related to the efforts to mitigate the outbreak of COVID-19 is constantly evolving. To follow the guidelines and precautions set by Canada’s public health authorities, see Health Canada’s website for comprehensive coverage.

---

The information provided in this feature has been sourced by Adam Stewart, Real Estate Sales Representative with Chestnut Park Realty Southwestern Ontario Ltd. Brokerage. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither Adam Stewart, nor Chestnut Park Realty Southwestern Ontario Ltd. Brokerage assumes any responsibility or liability.

Adam Stewart is a Real Estate Sales Representative with Chestnut Park Realty Southwestern Ontario Ltd. Brokerage serving Guelph, Kitchener-Waterloo, Cambridge, Wellington County and Southwestern Ontario markets. Adam can be reached at 519-265-2602, online at www.adamstewart.ca, or by email at adam.stewart@chestnutparkwest.com.

How This Real Estate Agent Continues to Bring Buyers and Sellers Together During COVID-19

It’s clear we’re all in this together, and we’ve all been spending the last few days coping with the development of the COVID-19 pandemic with feelings of uncertainty.

As a real estate sales representative with Chestnut Park in Guelph, one of the most important aspects of my service is to tour homes extensively with clients to access their features and benefits, and to identify areas of concern that could impact their way of life both health-wise and financially going forward during their time of ownership.

Naturally, with practicing social distancing we need to find a balance of supporting our clients requests to view properties while maintaining a high-level of social responsibility. Given the exceedingly quick pace to which COVID-19 and necessary social distancing measures are taking place, it is inevitable that the real estate market will have challenges in the short-term.

What we are seeing in today’s environment is certainly a continued level of interest from both buyers and sellers to maintain course given the length of time it takes to start a listing campaign, and of course the life decisions that determine why a buyer or seller is engaging in a real estate transaction. These are extraordinary times and as a society, we are in uncharted territory. It’s critical that we continue to stay calm and work together to stay safe, while supporting each other day-to-day.

One of the measures that is proving to be extremely useful during social distancing that continues to bring buyers and sellers together in an effort to minimize the risk of exposure to COVID-19 is the use of a system called Matterport, which enables prospective buyers to view properties in 3D in the comfort and safety of their own home. In today’s environment, this advantage will allow homeowners to stand out from the competition and provide an immersive experience that's not possible with photos or 360 tours. With a 3D virtual tour, prospective buyers can do their own walk-through a property from anywhere, anytime, generating higher engagement and interest.

Matterport 3D Tours Allow Buyers & Sellers to Come Together in a Socially Responsible way During COVID-19.

Of course this is one tool that we have to help attract qualified buyers by giving viewers the most complete representation of your property, as well by filtering out those properties that may not be the right fit will certainly support our social responsibility with COVID-19.  

If you are looking for guidance in your decision to start your listing campaign in the coming weeks, and would like more information about Matterport to support your listing campaign, please feel free to reach out to Adam directly.

---

Information related to the efforts to mitigate the outbreak of COVID-19 is constantly evolving. To follow the guidelines and precautions set by Canada’s public health authorities, see Health Canada’s website for comprehensive coverage.

---

The information provided in this feature has been sourced by Adam Stewart, Real Estate Sales Representative with Chestnut Park Realty Southwestern Ontario Ltd. Brokerage. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither Adam Stewart, nor Chestnut Park Realty Southwestern Ontario Ltd. Brokerage assumes any responsibility or liability.

Adam Stewart is a Real Estate Sales Representative with Chestnut Park Realty Southwestern Ontario Ltd. Brokerage serving Guelph, Kitchener-Waterloo, Cambridge, Wellington County and Southwestern Ontario markets. Adam can be reached at 519-265-2602, online at www.adamstewart.ca, or by email at adam.stewart@chestnutparkwest.com.

New Mortgage Stress Test Rules Coming...How will the Canadian Mortgage Stress Test Impact you in 2020?

Starting on April 6th, 2020, the Government of Canada will be ushering in changes to the mortgage ‘Stress Test.’ So, what are these changes and how might they affect your home purchase this year?

• Ever since 2016, all insured mortgages must qualify at a minimum rate or, in other words, pass a ‘stress test’. The key difference between an insured mortgage and an uninsured mortgage is the initial amount you’re able to put down on the purchase of a home. If you find yourself able to put down more than 20% of the purchase price immediately, you can carry on without seeking mortgage insurance. If, however, your down payment comes in at under 20% of the total purchase price, the government mandates that the balance of the mortgage must be backed by government-supported insurance.

• This policy was introduced four years ago as the Canadian housing market started its current upward climb, in an effort to ensure that buyers – especially younger, first-time home buyers – would be able to continue servicing their mortgage in the event of a climb in interest rates without being forced to default on the loan.

• In order to pass the current ‘stress test’, borrowers “must qualify at the greater of the: » Borrower’s Contract Rate, which is the mortgage interest rate agreed to by the lending institution and the borrower; or » Bank of Canada’s five-year Benchmark Posted Mortgage Rate, which is the mode of the posted five-year conventional mortgage rates offered by the six largest banks”.

• Starting on April 6th, these rules will change. To pass the stress test, home buyers will now need to qualify at the new benchmark rate, which will be the weekly median five-year fixed insured mortgage rate from mortgage insurance applications, plus 2%.

• In real terms, this change boosts purchasing power by an average of 5% for those home buyers who are proceeding with an insured mortgage. Looking at things another way, if you had been pre-approved by your bank for a home purchase of up to $450,000 under the current rules, that limit will be boosted up to $472,500 under the new rules. This gives first time home buyers a little more wiggle room to compete in a hot market where bidding wars are once again becoming the norm.

For more information, please feel free to reach out to Adam directly.

---

The information provided in this feature has been sourced by Adam Stewart, Real Estate Sales Representative with Chestnut Park Realty Southwestern Ontario Ltd. Brokerage. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither Adam Stewart, nor Chestnut Park Realty Southwestern Ontario Ltd. Brokerage assumes any responsibility or liability.

Adam Stewart is a Real Estate Sales Representative with Chestnut Park Realty Southwestern Ontario Ltd. Brokerage serving Guelph, Kitchener-Waterloo, Cambridge, Wellington County and Southwestern Ontario markets. Adam can be reached at 519-265-2602, online at www.adamstewart.ca, or by email at adam.stewart@chestnutparkwest.com.

Should I Sell or Rent My Property?

Thinking of upgrading to a bigger home, but can’t decide if you should sell your current property, or rent it out as an investment property?

As a landlord, there is no question that Guelph and area has a very strong rental market. According to the CMHCs Rental Market Report for the Guelph CMA (2018) the vacancy rate is at a low 1.4 percent with an average rent up 4.1% to $1,109 per month. So if you can afford to, now is a great time to upgrade into something bigger, and keep your current home as an investment property.

Download the CMHC Rental Market Report - Guelph CMA (2018)

“Provided you can afford it, you could make yourself income from the cash flow, and asset appreciation, if you hang onto your home and sell in the next two to three years.” – Adam Stewart, Realtor, Chestnut Park West

Hear are the top #3 considerations to help you make the best decision for your situation…

CAN YOU AFFORD TO KEEP YOUR HOME AS AN INVESTMENT PROPERTY?

If you do decide to rent out your home, you will still have your usual rates to pay, plus ongoing maintenance and repairs. With a rental, hot water systems can fail, and air conditioning systems may need work. So provided that these costs won’t stretch you too thin, I would recommend holding onto your home for another two years or so.

CAN YOU AFFORD TO UPGRADE WITHOUT SELLING YOUR CURRENT HOME?

Ideally, the choice to maintain your property and rent it out will still allow you to upgrade and afford the home you want. Sometimes by selling the property you could borrow an extra $100,000-$200,000… so maintaining your home and renting it out may reduce that capacity.

It’s a great time to see what’s around, and speak with your lender to see what you can afford. The lending rate is also nearing historic lows, so it’s an opportune time to get your finances in a position to upgrade, and secure some long-term capital growth.

IS BEING A LANDLORD FOR YOU?

If you find you can afford to keep your home as an investment property, consider whether you have the time, patience, and desire to manage your rental yourself, or if you’d like to hire a property manager to do it for you.

Some of the most important tasks of a landlord (or property manager) are:

• Finding a reliable tenant that pays rent on time and maintains your property.

• Conducting regular routine inspections on the property.

• Organizing prompt maintenance and/or repairs on the property.

• Ensuring all legal paperwork and documentation are filled out correctly and signed (e.g. tenancy agreements, property condition reports, inspection reports, repair requests, etc.).

If you work full-time and have a family, you may find it difficult to give your tenant and rental the time and commitment it needs - it totally depends on your circumstances, and head space.

AND IF YOU’D LIKE A SECOND OPINION ABOUT WHETHER TO SELL OR RENT YOUR PROPERTY IN THE CURRENT GUELPH MARKET, FEEL FREE TO CALL ADAM AT 519.265.2602. HE’D BE MORE THAN HAPPY TO ANSWER ANY QUESTIONS YOU MAY HAVE.