The Government of Canada ban on foreign home investors from buying property in Canada took effect on January 1st, 2023.

What you need to know.

The two-year ban, targeting prospective foreign home buyers will no longer be able to purchase real estate that includes condos, apartments, and single residential units – as well as higher taxes for investors who let their homes sit vacant.

The main focus of the ban is to restrict foreign home investors from purchasing real estate where there is no intention of living in them. Thus causing a shortage of available inventory and driving up real estate prices for Canadians. Toronto alone has approximately 5% of homes sitting vacant, Therefore, this could be significant for buyers waiting to get into the real estate market.

These measures could provide some temporary relief in a very tight market – particularly combined with measures presented by the Ontario government to dampen the market, like making blind bidding optional. 

With this in mind, more Canadians looking for homes potentially have a better opportunity to become homeowners. Sue Heddle Homes is here to help buyers get into this market and leave with their dream home. Contact me and see how Sue Heddle Homes can turn a house dream into a homeownership reality.

Ready to buy or sell a home in Oakville? While you may be tempted to try and tackle the process on your own, know that an experienced real estate agent can provide you with invaluable expertise and support. Below you’ll find five reasons why it’s essential to work with a professional real estate agent for any type of real estate transaction.

1.  A Good Realtor Will Educate You, Not Sell To You.

Obviously, a real estate agent wants to help clients buy and sell homes. However, a good agent is dedicated to much more than just selling. They will also help you understand the entire process so you know what to expect. A quality agent wants to make sure you make a smart and educated decision.

For example, if you want to list your home, an experienced Oakville realtor will help you navigate through the following areas:

• Determining if your property is ready for the market.
• Having professional home staging done.
• Deciding on a fair price.
• Providing you with helpful information on associated costs for selling a home.

If you are a buyer and are ready to find a new home, an experienced Oakville realtor will make sure you are ready by working with you to ensure the following questions have been answered.

• Have you been pre-approved by a lender? 
• Do you know what you can realistically afford? 
• Do you know what goes into a strong offer?

If you’re not prepared for your real estate transaction, then buying or selling a home can turn into a stressful and seemingly impossible situation. By working with the right agent, you’ll transform the way you think about real estate and feel less overwhelmed about the whole process.

2. Qualified Real Estate Agents Know How To Market Your Property.

When buyers walk into a poorly presented open house, it’s pretty impossible for them to imagine wanting to live there. You can also count on reduced open house traffic if the listing includes poor images and incomplete details. It really is essential to prepare a home for being sold the right way. Some of the most important aspects of a good real estate marketing plan include:

• Home Staging.
• Professional photography.
• Video footage.
• 3D house tour.
• Online marketing tools. 

Do all of those things really sound like something you can tackle on your own? You’ll certainly save time, money, and frustration by having a real estate agent help you present your property.

3. A Realtor Knows Local Market Conditions.

Real estate agents are in-tune with the conditions in your local market. As such, they will have insight into things like:

• Type of audience for your home.
• Where to advertise to buyers.
• Where most buyers are coming from to see your home.
• Average number of days it takes to sell a home.
• Average asking price versus sales price.
• Trends in real estate in your area.
• Whether or not sellers pay closing costs.
• Challenges you could face due to factors such as layout or location.

In-depth knowledge of your market and the real estate conditions in your area, means that your agent will have the ability to get you the best price for your home, even when taking into account every realistic challenge or obstacle that may impact your listing.

4. Real Estate Agents Are Skilled Negotiators.

Real estate negotiations are complex. From making counter offers to dealing with conditions and arranging an appropriate deposit – ask yourself, would you really know how to handle those situations with the right knowledge and protocols? By working with an agent you’ll be able to create a strategy, negotiate, and manage the situation as effectively as possible. 

In addition, your realtor can assist you with stressful events such as when a home inspection reveals a problem with the roof, electrical or finds mould. These discoveries can send people back to the negotiating table and your Oakville realtor will be ready to make sure you are properly represented, and with your best interest in mind.

5. An Agent Is More Than Just A One Time Resource.

Real estate agents are well connected in the community and can help you find the resources you might need once you’ve bought or sold a home. From a recommended moving company to a home renovator and even the best local restaurants – ask your realtor for their suggestions! A great realtor really does want to help you get settled into your new home and are happy to help.

And don’t forget to keep in touch! Your realtor can help you get a home evaluation a few years down the road, help keep you updated on real estate happenings in your neighbourhood, and of course, help you or any of your friends or family with any future real estate transactions.

Trust Sue Heddle Homes With Your Real Estate Needs 

Walking into the real estate process without the expertise of a qualified and experienced real estate agent will most likely not produce the outcome you want. With a top real estate agent, like Sue Heddle Homes, on your side, you can let go of common worries and relax knowing that you have an experienced professional, eager and ready to help you. By hiring a realtor, you’ll be able to look forward to the good things that are about to come and enjoy the process along the way. Ready to move forward? Contact Sue Heddle at (416) 906-7998.