[Video] Pet Number Limitations at Condominiums

By Warren McNeil,

I recently answered a question from our website about the total number of dogs you are allowed to have at aTotal Number of Pets Allowed at a Condo condominium or loft. It is important to review the rules and regulations of the condominium corporation and have your lawyer review the offer if you don’t understand something. It is also important to ask these questions when you first put in the offer.

The condominium rules must be followed and therefore, you will need to be aware of this if you are planning on buying a condominium and you want to have pets.

Being a pet lover myself, this is a very important thing to know. 

There are lots of condominiums in the Kitchener Waterloo area that will allow pets. If you would like more information, please let me know.

Here is the video.


Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118

The Condo and Loft Market in Kitchener Waterloo is Booming

By Warren McNeil,

On Monday RE/MAX released a press release about the condo market in Canada. They said that inKitchener Waterloo Lofts and Condos Toronto 1-3 houses purchased was a condo. They also said that in Kitchener-Waterloo 1 in 5 houses purchased was a condo. So why are people choosing this type of living?

If you are not into doing alot of maintanence, then a condo might be the right fit for you. One of the nice things about condo living is the freedom of not having to worry about any exterior maintanence. If you are not the handy type or you don’t have unlimited cashflow, than the extra insurance you have buying a condo can give you the peace of mind that you might be looking for.

CMHC held their annual housing outlook for 2011 yesterday. Alot of information was discussed. One thing they mentioned was that Kitchener Waterloo is becoming a big city. This means more intensification. Waterloo region is expected to grow to 700,000 people by the year 2031.

condos in kitchenerIn our area right now, high-rise condominiums are the big thing. After the success of buildings such as the Kaufman Lofts and the Bauer Lofts, more buildings are now being constructed. There are around 10 separate new construction projects in the works right now. Everything from townhouse style condos, downtown high-rise to condos in established residential areas.

If you travel for a living or like to go on vacations for months at a time then condo living offers more peace of mind then detached housing.

Increasing interest for these types of condos and lofts is coming from technology professionals who don’t want the hassles of doing maintanence. Other types of a buyers are parents who are buying investment condos for their children while they go to university. Investors are also looking for affordable rentals. With the higher cost of single detached homes, buyers are now starting to look towards condos as their first home.

In summary, condos are a great option for people who want less maintanence. They fit all kinds of budgets from starter apartment style condos to luxurious townhouses. If you like condo living then you might want to consider living in the Waterloo Region!

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118

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Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118
Filed under: Kitchener Waterloo Lofts and Condos — Tags: , , , — wmcneil | Posted: November 3, 2010 @ 3:39 pm

1 in 5 Houses Sold in Kitchener-Waterloo is a Condo

By Warren McNeil
Very intersting report by Re/Max today. The report states that 1 in 5 houses sold in Kitchener Waterloo is a condominium. This is definitely evident to me because I am seeing many new construction condo developments in Kitchener Waterloo recently.Kitchener Waterloo lofts and condos

Here is a quick list of all of the condominium developments in Kitchener Waterloo:

1. Center City Living lofts/condos by Andrin Homes – downtown Kitchener
2. Arrow Lofts by Auburn Developments – downtown Kitchener
3. 144 Park – uptown Waterloo
4. The 42 – uptown Waterloo
5. 45 degrees – King St and Columbia Street Waterloo
6. Reflections By Urbanera- Laurelwood North Waterloo
7. University Village – Highland and Ira Needles Kitchener
8: Chicopee Forest Freehold Condos – Woolner and Upper Mercer Kitchener
9. Westmount Grand – Erb St and Westmount Rd Waterloo
10. The Tanglewoods – Bleams Rd Kitchener

 

The report also mentions that  investors are buying entry-level product near universities and using them as rentals. Investors are also looking for longer term investments and are buying nicer more luxurious condos to keep for the market appreciation. One thing’s for sure, there is no shortage of condos in Kitchener Waterloo.

 Here is the report for RE/Max Ontario Atlantic

Nov. 1, 2010Remax Kitchener Waterloo condos

Given serious escalation in detached housing values, condominium apartments and towns have now emerged as the first step to homeownership, says RE/MAX Ontario-Atlantic Canada.

Affordability has fuelled buying activity across the board, according to the 2010 RE/MAX Condominium Report, highlighting trends and developments in eight Ontario markets and one in Nova Scotia. Condominiums now represent one in every three homes sold in the Greater Toronto Area; close to one in every four homes sold in Ottawa and Hamilton-Burlington; and almost one in every five homes sold in London, Kitchener-Waterloo, and Collingwood. The trend has translated into a solid upswing in unit sales activity, with 78 per cent of markets posting an increase in year-to-date sales (January – September 2010 vs. 2009)—with percentage gains outperforming overall residential sales in most
markets examined.

“As one of few affordable housing options available to first-time buyers, the concept is poised for dramatic growth in years to come,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “The lifestyle has also gained a foothold with younger, hipper audiences, as the definition of homeownership evolves with the changing demographic. Dreams of the small home with a white picket fence are being replaced by the funky loft apartment in close proximity to shops, restaurants, and entertainment.”

Other factors that support an escalation in condominium sales include an expanding population base, especially in areas like Barrie which saw a 21 per cent increase in the 2006 census. Immigration and inmigration will also play a role, with at least half of new immigrants settling in Ontario – and more specifically, the Golden Horseshoe. Urban renewal and intensification also add to the mix, drawing younger purchasers to the downtown core of major urban centres.

While the greatest activity continues to occur in the lower price points-under $200,000 in areas like Ottawa, Barrie, and London and under $300,000 in Toronto and Collingwood—luxury product is also attracting more affluent empty-nesters and retirees to the maintenance-free lifestyle. Condominium sales in the GTA over the $1,000,000 price point have seen a 49 per cent increase year-over-year, while condos priced in excess of $450,000 in Ottawa have seen sales jump 72 per cent compared to the same period in 2009.

Investors are also an active part of the equation, spurring demand for entry-level resale product in college and university towns like London, Kitchener-Waterloo, and Barrie—in the hopes of cashing in on student housing. New construction in major centres has also experienced an increase in investment activity—with the vast majority of units in Toronto’s downtown core purchased by Asian and Middle Eastern investors as a long-term hold.

“Unlike 1989, when a flood of new condominium listings wreaked havoc on the market, these purchasers are in for the long haul,” says Polzler. “Leverage is not a factor, with most paying cash for their units. If they can’t sell their apartments, they’re more than prepared to rent them out.”

RE/MAX is Canada’s leader with over 18,000 sales associates situated throughout its more than 690 independently-owned and operated offices in Canada. The RE/MAX network, now in its 37th year, is a global real estate system operating in 80 countries, with over 6,300 ndependently-owned offices and over 92,000 member sales associates. RE/MAX realtors lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management. For more information, visit: www.remax.ca.


Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118

Arrow Lofts Builder Auburn Wants to Be ready by Spring 2011

By Warren McNeil

If you have been waiting for an Arrow Loft in Kitchener your wait could soon be over. After a long awaited delay, the builder (Auburn Developments) is working towards getting the project going again. They could have a model suite as early as fall if all goes well. They have been working on the parking garage and it is almost complete. The condominium units have been laid out inside and the new stairwells are in place.

Sounds like they are going to have many  spacious units. The first four floors will average 1000 square foot models and at the top of the building they will have 2-storey real lofts.

The builder is pushing hard to get the final permits.

“I am pushing as hard as I can for the final buildings permits,” Litt said. “We are shooting for Oct. 1 to have the building weather tight.”

According to the news article at the Record, if all goes well, the builder will have the Arrow lofts built well before the other large projects are built downtown. The big one they are talking about is the City Centre Condominiums in Downtown Kitchener where they are planning on building 385 condominiums over the next 3-5 years.

Reference: http://news.therecord.com/news/article/725735

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage o. 519.579.4110 c. 519-498-8118
Tour 1000s of Home for sale in K-W | What’s My Home Worth?

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Should you Buy a Condominium or a Single-Family Home?

By Warren McNeil

Kitchener Waterloo and Cambridge offer a huge selection of condos, lofts or singles. Whether you want to live in a Kitchener Waterloo condos for saleKaufman loft, a Keats Way condo, a single-family in Doon South or a townhouse in North Waterloo the choices are  endless. But which is the best option?

I have written similar blogs about this topic before but it never seems to get old. I have lots of clients who say to me they would never pay a condo fee. I have other clients who say, they want somewhere that will allow them the freedom to come and go as they please without having to worry about maintenance. Whatever the case is, people have their preference and here are a couple of thoughts to ponder.

One of the cons to condo living is the extra monthly fee you have to pay for maintenance. I had a client say to me recently that they feel that the monthly condo fee is a waste of money. These people lived in a single-family home for 30 years and were used to doing all of their own maintance and upkeep on their house. My goal with them was to explain the benefits of condo living. One benefit I shared with them was that condo living would allow them the flexibility to travel for extended periods of time while leaving the condo unattended. All maintenane and upkeep is taken care of for them. No snow to shovel and no grass to mow.  We have many clients who own condos and lofts who absolutely love that they don’t have to worry about these types of things.

Kitchener lofts and condosChoosing a condominium over a single-family home is about choosing a lifestyle. If you are used to living in a single-family home then moving into a condominium could be a huge shock to you. But wouldn’t it be great to not have to be responsible for repairs or other maintenance.  What about underground parking or access to a swimming pool? These are all amenities you can expect from living in a condominium.

 Overall, condominiums are a pretty secure investment for buyers over the last ten years. With diligent research on your part, you’ll be able to answer your own “which option is better?” question in the end and feel good about your decision.

Thanks for reading!
Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage
( 519.579.4110 
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com 
 
P.S. Looking for a condo or loft, check out our brand new website at www.LoftStyle.ca!

Things you Need to Know When Buying a Condo in K-W

By Warren McNeil

Do you have your New Years resolution yet? Let me guess, you need to lose weight, exercise and save money. Maybe your New Years resolution is to buy a condo or loft in Kitchener-Waterloo. If this is the case, then there are some things you need to know before you plop down the cash. Some people overlook these things so I will summarize what you should look for. That way you will know what to expect when you buy a condo or loft.

Check out this little video I created regarding buying condos and lofts.

*Video:tips for buying a condo or loft in kitchener-waterloo and cambridge

Having an understanding of condos or lofts is important so you can make sense of their differences from freehold housing.

All non-freehold condo or lofts have common elements. Common elements are owned by everyone and include the lobby, elevator, swimming pools, exercise room, hallways etc. Common elements are anything outside of your unit.

It’s very important to understand how parking works. Do you get one spot? Can your rent another spot. Is parking underground? How much visitor parking?

Condos or lofts are also subject to a monthly condo fee. This fee covers maintenance of the building and ground and the common elements. The condo fees in Kitchener-Waterloo or Cambridge can range in prices from $150-600 per month. The higher fees usually cover others things such as fitness facility and swimming pool maintance costs.

If you have pets, you need to make sure that the condominium corporation will allow them. I know that the Kaufman lofts, LeMarche are a couple of buildings that allow pets. Size restrictions may apply. Realtors will be able to find out which condos are pet friendly.

Condos and lofts are subject to strict rules and regulations that prevent you from making changes to any of the common areas. You need to get permission if you want to make a change such as build a fence, changing doors & windows, paint garage doors etc. Read through the rules and regulations to find out what you can and can’t do. You can request the rules and regulations from the property management company.

Lastly. it is important to have your lawyer review the status certificate so that you know that the finances for the condo corporation are in good standing.

I hope you found this information helpful. As you can see there is a little more that you need ot know about condos or lofts when compared to a freehold housing.

What do you think your biggest concern is when buying a condo or loft in Kitchener-Waterloo or Cambrige (High condo  fees, pet friendly, parking) ?  Let me know.

Thanks for reading!

We are a full-time real estate team in Kitchener Waterloo area. We enjoy assisting buyers and sellers with the purchase or sale of condos or lofts in the Kitchener-Waterloo or Cambridge areas. If you would like us to help you with your condo or loft search, please check out our brand-new free search website.

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage
( 519.579.4110 
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com 
 
P.S. Looking for a condo or loft, check out our brand new website at www.LoftStyle.ca!

[Tip] Searching for Kitchener Waterloo Condominums or Lofts

By Warren McNeil,

If you are on the fence about buying a condo or loft in Kitchener, Waterloo or Cambridge you might want to consider taking advantage of some of the great deals that are currently available. The real estate market in Waterloo Region is really strong and there are lots of upcoming developments in the coming years. Andrin Homes new project in the downtown core just to name one.

If you are looking for a resale condo or loft in Kitchener or Waterloo you might be finding that your search is frustrating you. There are easier ways. If you are looking in the newspapers or other real estate publications you will probably find that when you call the agent the house has already sold. Despite the houses that are selling, there are still many more available. However if you are waiting for them to be advertised in the paper, you could be waiting too long. By the time the property is advertised, it may have already received an offer.

There is lots of choice when it comes to a Kitchener Waterloo condo or loft and I recommend having a realtor setup an automatic search for you. This will not only cut down on the time it takes to find a condo in Kitchener or Waterloo, it will also let you know about the newest listings right away before they even hit the public MLS system. This will give you a jumpstart over other buyers who are still looking on their own without a realtor.

In summary, if you are looking for a condominium in Kitchener, Waterloo or Cambridge and haven’t had any luck finding the right home, then you should let a realtor do the work for you. It will save you time and money and you won’t miss out on a good deal ever again.

For more info see:
Click Here 

Thanks for reading!

We are a full-time real estate team in Kitchener Waterloo area. We enjoy assisting buyers and sellers with the purchase or sale of condos or lofts in the Kitchener-Waterloo or Cambridge areas. If you would like us to help you with your condo or loft search, please check out our brand-new free search website.

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage
( 519.579.4110 
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com 
 
P.S. Looking for a condo or loft, check out our brand new website at www.LoftStyle.ca!

Andrin Homes near deal for long awaited project

By Warren McNeil

Andrin Homes President Peter Smith said that there will be an agreement in place next month (January 2010) for the re-development of the city-owned half of Centre block which is bound by King, Young, Duke and Ontario streets.

The project will add 385 new condos to the downtown core. Andrin Homes is planning to build a sales office on the block fronting on King Street West.

They are planning on starting sales in August of 2010. The first phase will include a building with 235 condos and will face Duke St. Phase 2 will have 150 condo units on King St. The last phase is  a boutique hotel in what is currently the Mayfair hotel.

“The City of Kitchener is targeting young high-tech workers in its marketing campaign for downtown living. It’s paying dividends, as many high-tech workers bought space in the Kaufman Lofts. Open Text recently announced it is constructing another building in the research park and hiring another 800 people.”

Andrin Homes built the award winning Kaufman Lofts.

Source: City and developer near deal for long-awaited project

Thank you For Reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage
( 519.579.4110 
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com 
 
P.S. Looking for a condo or loft, check out our brand new website at www.LoftStyle.ca!

3227 King St E, Great Value for the money! ($150,000-180,000)

By Warren McNeil

3227 King St E, Kitchener

3227 King St E, Kitchener

A couple of months ago I sold a condo at 3227 King St E in Kitchener. (Near Heffner Toyota) I met a gentlemen from out west and we looked at several different condos. Some of the units we looked at were as much as $100,000 more for the same or less square footage and we couldn’t believe the value that a condo unit in 3227 King St E had. My client was quite impressed and bought the unit.

This Kitchener condominium  is oriented to seniors but anyone can live there. They have really nice facilities such as a pool, fitness centre and underground parking. The condo is situated in close proximity to Fairview Mall & Sportsword Drive. We looked at several other nice size units but none compared to the unit my client purchased. The listing agent said that over a period of time, his seller spent over $60,000 in updates. This was definitely evident. The kitchen was all updated with newer appliances. The bathrooms were also updated. This was the perfect condo for my client.

If you are looking for spacious condos under 200,000 in Kitchener, consider the condos at 3227 King St E, Kitchener. Pricing is  around 150,000-180,000 with a condo fee of approximately $340-370 per month. The fee includes water,maintence and inside parking. There are presently 5 units for sale.

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage
( 519.579.4110 
www.kitchenerlofts.com


Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118

Tips for Selling Your Kitchener Waterloo Loft or Condo

By Warren McNeil

Thinking about selling your loft or condo and  taking some of the equity to buy something else? Maybe you’re downsizing. Whatever the case, this posting might help you alongKaufman Lofts in Kitchener this journey. Selling your home is a big lifestyle change and can be very disruptive.

1. The first thing you need to do is decide if now is the right time to sell. To determine that, you can talk to your local realtor and find out about the recent sales activity in your complex. This should give you an idea of what is selling and what is just sitting and not selling. Timing  sometimes plays an important part in getting the most money.

2. Have your realtor give you an accurate market analysis of your condo or loft. This analysis will include the most recent sales, expired listings and currently active for sale listings. You can then use this information to come up with a suitable list price. Pricing is not an exact science so the goal is to use the most recent comparables and then be satisfied on the suggested list price. Overpricing your condo or loft will just make prospective buyers look elsewhere. Buyers won’t put an offer even if you left a bit of room to negotiate. They will just wait for you to reduce the price. You need to decide if you want sell your condo or just put it on the market.

3. After you have the price figured out, you need to prepare you condo or loft so it is ready for sale. Consider staging, cleaning, renting furniture, decluttering and performing small repairs. Imagine yourself as the buyer andlook through their eyes. If you don’t want to do the work yourself or just don’t have time, hire a stager or a professional organizer. When meeting with these professionals, be sure to keep an open mind. If you are really ambitious, consider replacing the carpets and painting. Keep in mind that you might not get a one-to-one ROI. Every dollar counts so watch your budget.

4. Once your condo or loft is listed and open to prospective buyers, try and remain flexible with the showing schedule. The more people who see the unit, the higher your chances are of getting an offer quickly and for top dollar. Make sure that you provide the realtor with all the information such as parking spot(s), location of lockers, fitness facilities, common areas and any other details unique to your condo. Making the unit easy to show is important. If you have a controlled entry, make sure that you have the keys or electronic fobs handy for the realtor.

5. When an offer is received keep an open mind. Everybody wants a deal so expect that you might get low offers. You are always in control so you don’t have to take them. The key is not to lose faith. The right offer will come along by someone who really wants the unit. You do have to be realistic. Please re-read step 2. If you get 5 offers all at a lower price then that is the market telling you that your pricing mght need readjustment.

6. Some final things you need to keep in mind are: Be prepared for the closing costs. For a seller this process is pretty simple so just be sure to budget some money for closing costs. Another thing you need to do is maintain house insurance all the way through until closing. You also owe it to the future buyer to keep the house in good condition and repair any damage sto chattel or fixtures should they break or malfunction.

 

Some other quick tips or tools for selling are:

  • open houses
  • flyers since for sale signs are not always allowed
  • word of mouth (Facebook, Twitter or any other social site)
  • obviously advertising in papers and real estate publishings
  • mls.ca

The above information is just a quick overview of the process and some tips for selling lofts or condos in the Kitchener Waterloo or Cambridge areas.

If you have any questions or would like more information about selling your Kitchener,Waterloo or Cambridge area condo or loft, please don’t hesitate to contact us. For a free condo evaluation, checkout our Kitchener Waterloo free condo evaluation services

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage
( 519.579.4110 
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com 
 



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