Archives for November 2013

Renovations That Yield The Best Return on Investment – Episode #173

Welcome to the Toronto Beaches!  We are south of Queen Street East in a very high demand location.  This is the After Renovations Video.

Jerry Greer, the owner of this Prime Beach Property, has completed his renovation and has touched on all the items that offer the biggest bang for your dollar in terms of Property Value and Rental Value.  Those items are:

New Flooring

New Kitchen

Modern Lighting

Professional Paint Job with the right colours

Spa-Like Bathroom

Ensuite Laundry

The rents that Jerry was getting before renovations was $1700 / month.  Now he is asking $2300 / month and will likely be asking $2500 come Spring and Summer…there are very good reasons for this as you will learn why.

The renovation budget was originally $25,000 and it ended up costing $40,000.  There were a few items that were unexpected as usual with renovations.  Watch and learn.

And last but not least, we can’t forget about the sloped floors!  Were they fixed?  Was the Renovation Specialist, Jeff Reed, able to solve the “bowling ball effect”?

Here is the Before Video: Prime Toronto Beach House With Sloped Floors Before Renovation – Episode #168

Here is the During Video: Jacking Up Floor Joists – Episode #171

How TTC & GO Transit Enhance Property Values – Episode #172

One of the most important factors that impact real estate values is access to transportation.

The Real Estate Investment Network (REIN) has conducted a study called “The 800 Metre Effect” where they show proof that transit protects property values.  They say that “as population increases and a new demographic enters the housing market, there is a growing interest in development around transit nodes…in a recently published research in the US for example, residential properties maintained their values during the latest recession, whereas other properties plummeted in value.”

Ensuring you find the right location is key.  In this video we stand near the Danforth Subway Line which is close to the Toronto Beaches, East York, and Leslieville.  As REIN puts it, “property owners see the multi-faceted benefits of purchasing in these locations for themselves or their tenants because it provides them increased access to jobs, a decrease in commuting costs, increased values and rents, and a higher quality of life as measured by connectedness and community.  The properties also demonstrate resiliency during economic downturns.  Residential properties generally benefit from being at least 50 metres away from a station but within walking distance (which is generally characterized as 800 metres or 1/2 mile.”

Perhaps this will make you think differently next time you search for a property.  Contact me to discuss what areas around the Danforth have shown strong property values and what areas are now starting to pick up…hence the opportunity to get in before prices rise.

Jacking Up Floor Joists – Episode #171

Welcome to the Toronto Beaches!  We are south of Queen Street East in a very high demand location where people want to live.  Buyers always tell me just how much they love this area and want to get in.  Sellers always tell me just how much they love the community and don’t want to move from this area.  Tenants are always asking me if I can find them a place to rent in this area.

But sometimes we can come across some challenges in this beautiful area.  For example, the underground streams can cause an issue and actually affect some houses.

In this scenario, the owner of this Prime Beach Property, Jerry Greer has been renovating his property and is attempting to level off the sloped floors possibly caused by unstable fill back when this property was constructed in 1910.  The Structural and Soil Engineer involved had discovered that a new footing was constructed we believe in the 1970’s to stabilize the building.  According to the Engineers this new footing was more than sufficient and therefore the sloped floors can now be fixed…but how?  Can he level off the sloped floors?  I actually get dizzy every time I walk into this house because of the severity of the sloping floors.

Perhaps with some help from the Renovation Specialist Jeff Reed this can be accomplished.  Jeff and his crew are working diligently in creating a solution to this problem where they will jack up the floor joists from the basement in order to level off the floors on the first floor.

Here is the before video:

Episode #168 – Prime Toronto Beach House With Sloped Floors Before Renovation

 

Prime Toronto Beach Basement Apartment Before Renovation – Episode #170

Welcome to the Toronto Beaches!  We are south of Queen Street East in a very high demand location.  But how demanding are basement apartments in this location?  Lets see…

Jerry Greer, the owner of this Prime Beach Property, will be embarking on this renovation to hopefully convert this aged 1 bedroom basement apartment that was renting for $1000 / month into a luxury basement rental suite that will demand $1500-$1600 / month.  His budget is roughly $25,000.  Will he find surprises behind the walls?  How about beneath the floor?  The property is really close to the Lake and Underground Rivers/Streams.  Hopefully there won’t be any foundation issues to contend with.

Perhaps with some help from the Renovation Specialist Jeff Reed this can be accomplished.  Jeff is using this property for a Class Case Study with his Students.  So there will be many great ideas floating around.

Here is the after video: With The Right Renovation, Staging, and Team You Get More Money In Your Pocket – Episode #174

Here is the during video: Jacking Up Floor Joists – Episode #171