How To Furnish Your First Home On A Tight Budget

You’ve just bought your first home, or you’re planning to purchase in the near future. You’re likely on a tight budget, but that doesn’t mean you have to sit on milk crates or sleep on a mattress on the floor. It just means you have to get creative about where to shop for your fashionable finds. Here are seven great places to find fab furniture on the cheap, leaving some money in the bank for those mortgage payments.

SOURCE: blog.remax.ca

JUST SOLD! 55 Austin Avenue

Congratulations to our clients who just sold their wonderful Victorian rowhouse in Leslieville. For more information on this property, please visit www.55Austin.com or give us a call!

Hearn Generating Station Just Sold For 16 Million

It was only two summers ago that Toronto’s long-abandoned R.L. Hearn Generating Station burst back into life for the 10th anniversary of Luminato.

Thousands flocked to the decommissioned power plant, which was shut down in 1983, for 10 days of wild art installations and performances in a specially built 1,200-seat shipping container theatre.

Those lucky enough to score tickets got to dine in the generator’s old control room, which had been transformed into one of the coolest French restaurants Toronto had ever seen for the occasion.

Simply stepping into the massive, hollowed out heritage building — an iconic fixture along the skyline Toronto’s eastern waterfront — was enough to thrill most people, and for good reason.

The Hearn is spectacular, inside and out, and many in the city had hoped to see more huge-scale, public events staged there (you know, after the building was brought up to meet the safety standards of Toronto Fire Services).

No dice.

The provincially-owned Ontario Power Generation (OPG) announced this week that has sold sold the entire site, which produced electricity from 1951 to 1983, to Studios of America Corporation for $16 million.

Studios of America, which had been leasing the property from OPG since 2002, maintains the Unwin Avenue property as an “enclosed feature film and TV production complex.”

Mayor John Tory and Toronto city councillor Paula Fletcher both told The Star on Thursday that they were not consulted on the sale, or even aware that it was happening.

“This is a sad day for the waterfront,” said Fletcher, who had hoped to redevelop the site for public use.

“This is an iconic landmark building that should remain in public hands and be part of our new waterfront, and, instead, it has been sold for a song.”

So why the fire-sale price?

If you ask OPG, it’s at least in part due to the former coal-burning site’s status as a heavily contaminated industrial brownfield (though other, more nefarious theories are floating about).

OPG pokesperson Neal Kelly told the star that conditions of the sale included Studios of America not being able put residential or other “sensitive uses” on the site within 15 years. The company is also forbidden from reselling the Hearn within three years.

Disappointed as the city may be, its possible that Studios of America will still rent the space out for special occasions.

“The studio lot is located on a strategic 27.6-acre parcel of Toronto waterfront land with direct multi-modal road, rail and water access,” reads President Paul Vaughan’s Linkedin profile in a description of the company.

“Accommodations originally intended for film production have become popular for staging indoor and outdoor special events.”
Source: BlogTO
Lead Photo: Hector Vasquez
Additional Photos: Ford Thurston

JUST SOLD! 38 The Esplanade Suite 1210 – St Lawrence

When our buyer clients walked into 38 The Esplanade Suite 1210, they knew that they were home. This stunning corner suite is one of a kind featuring floor to ceiling windows, two bedrooms, two washrooms, and an over-sized balcony! Being located within walking distance to St Lawrence Market and the Distillery District guarantee that our clients will love their new home.

Just sold 38 The Esplanade Suite 1210

JUST SOLD! 77 Hastings Avenue – Leslieville

Winter, Round Two wasn’t enough to keep buyers away from this gorgeous Leslieville home. After busy open houses, despite ice storms on both Saturday and Sunday, 77 Hastings Avenue received multiple offers. We’re so happy for our awesome client who sold his beautifully built home over asking price, congrats again!

77 Hastings Avenue Leslieville Sold

Welcome to 77 Hastings Avenue in Leslieville

This stunning detached home was essentially rebuilt in 2016 with the finest attention to detail. The builder approached the building code as a minimum suggestion as he maintained much higher personal standards and used the best quality of materials throughout the entire home.

The covered front porch features tongue and groove wood flooring and pot lights. All of the original brick on the front of the home was uncovered and meticulously restored to pay tribute to the heritage of the home.

Upon entering the home, you are met with a lovely front foyer with a large front hall closet.

The open concept living and dining rooms are perfect for entertaining guests. Impressive engineered hardwood flooring throughout and elegant Norwood Heritage windows enhance the space beautifully as does the solid wood staircase.

The kitchen is absolutely incredible with modern cabinetry, quartz countertops, a breakfast bar and top of the line Kitchen Aid stainless steel appliances including a gas stove.

The kitchen leads to the spacious family room which features Norwood Heritage floor to ceiling windows and French doors which lead out to the breathtaking back deck and low maintenance yard.

The master bedroom is perfect and includes four sets of closets, a walk out to a private deck overlooking the backyard, a skylight and a spa like master ensuite.

The second level includes 2 more spacious bedrooms both with hardwood floors, pot lights and large closets, as well as another tastefully renovated washroom which also includes a skylight.

The lower level of 77 Hastings Avenue features an impressive ceiling height throughout, a wonderful large bedroom as well as another washroom, a separate laundry room and a spacious rec room with a separate entrance. A kitchen could be added easily to accommodate a nanny or in-law suite if desired.

This home truly has everything you could ask for including 2 car parking and is situated in the heart of one of Toronto’s most sought after neighbourhoods!

www.77Hastings.com

www.WeSellLeslieville.com

Listed April 11, 2018, Sold April 17, 2018 

 

Toronto home prices continue to climb

Average home prices in the Toronto region climbed more than 4 per cent last month as buyers began to absorb the impact of tougher new mortgage qualification rules introduced in January.

Data from the Toronto Real Estate Board showed home prices rose 4.2 per cent in February compared to January to an average of $767,818, marking the strongest month-over-month price gain since September.

Detached home prices rose 3.1 per cent across the Greater Toronto Area in February compared to the prior month, averaging $1,000,736, while condo prices climbed 4.4 per cent over January to an average of $529,782.

Despite the increases, average prices were down 12.4 per cent in February compared to the same month last year, when sales were booming prior to a price correction that began in May last year, TREB said.

TREB said 5,175 homes sold in February across the GTA , a 35-per-cent drop compared to the record 7,955 sales in February last year, but an increase of almost 29 per cent compared to 4,019 homes sold in January this year.

There were 10,520 new listings of homes for sale in February, an increase of 7.3 per cent from the same month last year, and a jump of 23 per cent from January. Despite the increase, however, TREB said the level of new listings still remained below the February average for the previous 10 years.

Jason Mercer, TREB’s director of market analysis, said he expects sales to pick up further as the year progresses.

“As we move further into the spring and summer months, growth in sales and selling prices is expected to pick up relative to last year,” he said in a statement, predicting price growth will come in the comparatively more affordable townhouse and condominium markets.

“That being said, listings supply will likely remain below average in many neighbourhoods in the GTA, which, over the long-term, could further hamper affordability,” Mr. Mercer said.

TREB president Tim Syrianos said his association anticipated sales would be slow in the opening months of 2018 compared to historic highs in early 2017.

He said prospective buyers “are still coming to terms with the psychological impact” of housing reforms introduced last April by the Ontario government, which included a new foreign buyer’s tax, as well as new mortgage qualification rules introduced Jan. 1 that require buyers to prove they can still afford their mortgages even if interest rates rise.

While sale prices are lower than they were at their peak a year ago, TREB said they are still up 12 per cent compared to the average sale price in February, 2016, “which represents an annualized increase well above the rate of inflation for the past two years.”

Scott Ingram, a Century 21 real estate agent in Toronto, said most home owners in Toronto have made money on their property despite last year’s downturn, calculating fewer than 9,500 buyers who purchased homes in the City of Toronto last year may still be unhappy because the benchmark price in January was at least $10,000 below the price they paid last year. He said they represent about 1.3 per cent of all homeowners in Toronto.

In a new analysis for his blog, Mr. Ingram said the benchmark prices for detached houses, semi-detached houses and townhouses in the City of Toronto in January were still below the peak levels they hit last year, but said prices for all housing types are higher than they were two years ago. The benchmark condominium price has increased compared to all months last year, so buyers in that category are not under water.

Even buyers who may feel “burned” by purchasing at the peak last year will be fine in the long run, Mr. Ingram said, as long as they do not plan to flip their home quickly.

For those who bought at the peak and planned to flip quickly, Mr. Ingram said the experience is a lesson that “real estate isn’t a guaranteed investment vehicle.”

SOLD! 110 Jones Avenue – Leslieville

Sold within three days! 110 Jones Avenue, Toronto

Congratulations to our clients of 110 Jones Avenue on the quick sale of their two unit semi-detached home in Leslieville.

110 Jones Avenue Leslieville Toronto

This wonderful home is situated in the heart of Leslieville and features 2 separate units with amazing income potential! Steps to great restaurants, transit, parks, and everything that Leslieville has to offer, this home has it all.

The impressive 3 bedroom, 2 bathroom main unit is well appointed and has plenty of functional space to live and entertain. The main floor provides an open concept layout as well as an eat-in kitchen and a walk out to a newly built back deck to enjoy the afternoon sun. The second floor features 3 bright and spacious bedrooms, including a large master with a bay window and ample closet space. This floor also has a lovely 4 piece bathroom. Plenty of windows and a hallway skylight provide an open and airy feel.

The charming 1 bedroom, 1 bathroom lower unit features a practical living space and offers sizable rooms and a walk out to the back yard to enjoy year round.

This functional turn-key property is perfect for any investor or for anyone looking to supplement their mortgage payments. Live in one unit and rent out the other or rent them both out to maximize your cash flow.

JUST SOLD! – 90 Sumach Street Loft 403 – Trefann Court

2 Days on the market, over 2000 square feet, 2 bedrooms, 2 washrooms, and 2 parking spaces!

90 Sumach Street, once home to the Canadian Broadcasting Corporation as a warehouse and design centre was originally used for their archives, studios, rehearsal spaces and workshops. From the brick exterior to the warehouse style windows to the vintage film light in the front lobby, everything about 90 Sumach pays tribute to its history.

Loft 403 is absolutely stunning! Upon entry you are immediately impressed by expansive open concept space. With 2059 square feet of living space plus a balcony, this loft is one of the largest in the building.

True to the definition of a hard loft, this residence features concrete floors, exposed ducts, fluted concrete columns and 14 foot ceilings.

Loft 403 includes extensive premium upgrades and finishes. The kitchen was completely renovated in 2011 with a beautiful mosaic tiled back splash, new cabinets, marble counters and a new sink and faucet. The appliances are second to none and include a 36” Wolfe Range, a Vent A hood vent, a built-in Sub Zero Refrigerator, and a built-in Miele dishwasher. The plumbing and electrical in the kitchen was upgraded at this time as well.

The kitchen overlooks the open concept dining and living rooms making the entire space perfect for entertaining. The floor to ceiling windows offer south views and an abundance of natural light all day long. There is also a walk out to the large balcony which was installed in 2011.

The master bedroom is absolutely stunning with high ceilings, a large walk-in closet and a spa-like master ensuite.

The second bedroom is perfect for a spare room, a home office or even an art studio. Additional upgrades were done in 2014 which include a ton of built in storage.

Both washrooms were upgraded in 2014 with new faucets and toilets and a new shower was installed in the main bathroom. There is also a convenient laundry closet with a stacked Bosch washer and Bosch dryer.

This loft also includes not one but two parking spaces!

The building offers a newly refurbished amenities room, visitor parking, and a fenced dog run. There is also a spectacular rooftop terrace with barbecues where you can take in the incredible west-facing views of the Toronto skyline. Located just steps from Queen Street East, you can enjoy easy access to the TTC as well as tons of great restaurants, shops and bars in the neighbourhood.

Toronto Ranked One Of The Most Innovative Cities In The World

Toronto was ranked as one of the most innovative cities in the world, according to a new report from the Melbourne-based organization 2thinknow.

According to the 2016-2017 Innovation Cities Index, Toronto ranked eighth out of 500 cities worldwide.

As CTV News reports, 2thinknow grades each city in three categories – cultural assets, human infrastructure and networked markets – to determine its overall potential for fostering innovation.

London, New York and Tokyo took the top three spots, respectively. Montreal came in at 19 and Vancouver ranked 24th.
SOURCE: BlogTO

How laneway houses could help solve Toronto’s real-estate woes


The GTA housing market has been operating within a policy of intensification for more than a decade now. This has caused a shift away from ground-oriented homes and moved the market toward higher-density housing, such as condominiums.

Our real-estate market has seen consistent increases in the cost of housing, with the average price of a detached home in Toronto increasing by over 32 per cent this past November from the same month last year, according to the Toronto Real Estate Board.

While those who prefer urban living have embraced higher-density housing, folks looking for traditional ground-oriented housing must move farther and farther away from the city to find it.

So what if there was a way to introduce new ground-oriented housing in the heart of Toronto that could accommodate up to 100,000 people, and the solution was literally in our backyard all along? That is, if your backyard is along a laneway.

Laneway housing is an innovative concept first introduced in Toronto back in 2006. And while it ultimately went nowhere here, it did inspire Vancouver, Ottawa and other cities to introduce policies that embraced it.

The original concept a decade ago contemplated a separate dwelling being legally severed and requiring new municipal services, resulting in the digging up of laneways.

The new groundswell of interest in laneway housing (call it laneway housing 2.0) is focused on taking a different approach, where the new structures will be treated as secondary dwellings on the existing property.

That means the garage at the rear of the property could be rebuilt by the owner to include a secondary dwelling unit, potentially serviced through the existing municipal connections, limiting neighbourhood disruption and creating new appropriately sized, ground-oriented housing units that could range in size from 700 to 1,500 square feet.

This could represent one of the most innovative solutions to a wide range of the city‘s housing needs, including multi-generational households where the owner can provide accommodation for parents or children or introduce much needed rental housing stock and help generate new income from their property. And it would be creating new ground-oriented housing in areas close to transit and existing community amenities, with minimal neighbourhood disruption.

There is no silver bullet solution to solve all of our housing challenges in the GTA, but with approximately 300 kilometres of laneways in the City of Toronto, laneway housing could be a good start.

But this innovation will require that everyone works together: citizens, government and industry. And community consultations are underway. If you’re interested, you can participate by going online to: lanescape.ca/survey to learn more about the initiative and provide your input.

Remember: The best way to predict the future is to help create it.

SOURCE: THE TORONTO STAR

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