4 July 2024

How to Buy Vacant Land: A Quick Guide

by Dan DaCosta

Buying vacant land in Ontario can be an exciting and rewarding investment. Whether you’re planning to build your dream home, start a farm, or develop a business, purchasing land gives you the freedom to create something unique. Here’s a quick guide to help you through the process.

Vacant lot

1. Determine Your Purpose and Budget

Before you start looking for land, clearly define your purpose. Are you buying land for residential, agricultural, or commercial use? Your purpose will influence the location, size, and type of land you need. Additionally, set a realistic budget, taking into account not just the purchase price but also potential development costs. Remember that you can usually only mortgage around 50% of vacant land.

2. Research Locations

Ontario is vast and diverse, offering a range of environments from urban plots to rural expanses. Research different areas to find the one that best suits your needs. Consider factors like proximity to amenities, climate, and community features.

3. Check Zoning and Land Use Regulations

Every piece of land in Ontario is subject to zoning bylaws and land use regulations that dictate what can be built or done on that land. Contact the local municipality to understand these regulations. This step is crucial to ensure that your intended use of the land is permitted.

4. Conduct a Land Survey

A professional land survey will provide you with detailed information about the property’s boundaries, topography, and any existing structures. This survey is essential to avoid potential disputes with neighbors and to plan any future development accurately. You may also be about to find an existing survey and with title insurance being an option this may be all you need to do. However it is a good idea to plan for one just incase

Land survey

5. Verify Access and Utilities

Ensure that the land has legal access, such as a road or driveway. Also, check the availability of essential utilities like water, electricity, and sewage systems. If these are not already in place, factor in the costs and feasibility of installing them. Contact the local well driller. They would be able to best answer your water questions if you are in a rural area.

6. Perform Due Diligence

Investigate any potential environmental issues, such as soil contamination or flood risks. Additionally, verify the land’s title to ensure there are no liens or legal claims against it. Your real estate lawyer will help you navigate these checks.

7. Secure Financing

If you need financing, explore different options such as land loans or construction loans. Keep in mind that land loans typically have different requirements and interest rates compared to traditional home mortgages.

8. Make an Offer and Close the Deal

Once you’ve done your due diligence and secured financing, you’re ready to make an offer. Negotiate the terms with the seller and, if accepted, proceed to close the deal. This will involve signing a purchase agreement and transferring the title.

Final Thoughts

Buying vacant land in Ontario requires careful planning and research, but the rewards can be significant. By following these steps and working with professionals like real estate agents and lawyers, you can ensure a smooth and successful purchase. Whether you’re building a home, starting a farm, or launching a business, owning land in Ontario can be the foundation of your future endeavors.

Check out this amazing vacant lot in Perth Road Village!

BUYING • 18 June 2024

5 Compelling Reasons Why You Should Use a Property Management Company

by Dan DaCosta

Are you a property owner struggling to balance managing your investments with your personal life? Or are you a real estate investor aiming to expand your portfolio without getting bogged down by day-to-day operations? Regardless of your situation, working with a property management company could be the solution you need. Here are five reasons why teaming up with a property management firm is a smart move:

Time is Money: Managing rental properties is like juggling flaming torches while riding a unicycle – time-consuming and potentially hazardous! By outsourcing these tasks, you free up your time and energy for more profitable endeavors or personal enjoyment. It’s a win-win: you gain peace of mind while your investments continue to generate income.

Expertise and Experience: Property management requires a deep understanding of local markets, laws, and maintenance practices. Professional managers bring years of experience and industry knowledge to ensure your properties are well-managed and compliant with regulations, helping you avoid costly mistakes. Plus, they know all the secret handshakes to get things done efficiently.

Tenant Relations and Retention: Property managers are like the smooth-talking diplomats of the rental world. They excel at screening tenants, negotiating leases, and resolving conflicts, fostering positive relationships that reduce turnover and vacancy losses. By providing excellent communication and service, they keep tenants satisfied and loyal – sometimes even convincing them that noisy plumbing is the latest home spa experience!

Maximizing Rental Income: Property managers are the Jedi Masters of rental rates, using their market analysis skills to set competitive prices that attract tenants like bees to honey. They also implement effective rent collection strategies, chasing down late payments with the finesse of a ninja warrior, ensuring consistent cash flow and keeping your wallet happy.

Property Maintenance and Upkeep: Keeping properties well-maintained is crucial for value and tenant satisfaction. Property managers handle maintenance tasks, repairs, and renovations, minimizing the risk of costly surprises and prolonging the lifespan of your assets. Think of them as the guardians of your property’s well-being, armed with a toolkit and a can-do attitude.

In summary, partnering with a property management company offers multiple benefits, including time savings, expert knowledge, improved tenant relations, optimized income, and better property maintenance. Trusting professionals can lead to greater peace of mind, profitability, and a smoother real estate investment experience. Ready to kick back and watch your properties thrive? Consider taking the next step and partnering with a property management firm. Your stress levels will thank you!

This blog post is sponsored by Ashlar Property Management.

BUYING • 4 June 2024

SiZe – Does it matter?

by Dan DaCosta

Ah, the age-old question. Does size matter? Any house can feel like home if you put the right time, care, and people into it. Homes come in all shapes and sizes, allowing us to have some options when looking into a house to make our home. Is it better to have a larger home or a smaller home? When looking into buying a new home, many people think they should aim to get the largest house they can afford (sometimes not afford). But square feet per dollar is not always the best measurement of a house’s worth. Let me show you some of the perks of owning a smaller home and of course some of the cons.

Pro:

Lower bills. Just think of all the space you won’t be heating in the winter and cooling in the summer! In a smaller home, you’ll notice lower utility bills all around. Another expense that will likely decrease is the amount you spend on furniture for your home. you will have to buy less of it.
You’re less likely to hoard a bunch of stuff you don’t need. If you’re limited on space, you’ll learn to use less. And usually buy better quality of the things you do need. So you can stop carting around all those useless items that you have lugged around for the past years like that guitar you were always going to learn how to play
Cleaning and maintenance. Less space means fewer square feet to mop, dust, and fix. It is also much easier to keep tidy, no more finding cups and plates hidden in rooms you never knew you had (thanks kids for the science experiments).
Your home will be cozy and comforting. Small homes can be charming, cozy, and entirely complete.

Con:

cluttered room

Rooms can become puzzles. Speaking of furniture, if you are bringing large pieces with you from a more spacious previous home, you could have a hard time fitting it all in.
Things clutter easily. Though you will be less likely to hoard in a smaller home, you will still have to be conscious of the items you do have in your space. Especially for those who have children and/or spouses (because obviously, you are not to blame).
It’s tough to host gatherings. Your house might not be the most comfortable place to host the entire extended family for Thanksgiving. However with some families that could also be a pro.

No matter what home you buy, as a realtor I always try to guide my clients into the right home, not the biggest, not the smallest. But the one that will work best for them and the families growing needs.

28 May 2024

Getting your home market-ready!

by Dan DaCosta

Welcome, fellow homeowner!

So, you’ve decided to sell your beloved abode? Congratulations! But before we stick that “For Sale” sign in your front yard, let’s talk about getting your home ready for the market. Yes, that’s right, your home. Selling a home can be stressful, but why not inject some laughter into the process. So, grab your sense of humor (and maybe a glass of wine), and let’s dive into the absurdity of preparing your home to impress potential buyers!

The Great Decluttering Debacle:

Ah, decluttering – the art of turning your home from “organized chaos” to “Pinterest-worthy perfection.” But let’s be real, if clutter were an Olympic sport, most of us would be gold medalists. So, embrace the chaos with a laugh! Pretend you’re training for the clutter-clearing championships and make a game out of it. Bonus points if you find treasures you forgot you owned, like that unicorn-shaped candle holder from your weird aunt Mildred.

The Battle of Odours:

Nothing turns off potential buyers faster than funky smells lingering in your home. But fear not, brave homeowner! Arm yourself with an arsenal of air fresheners, candles, and potpourri. Better yet, bake some cookies before a showing (don’t actually do that, it isn’t 1956 anymore). But if you do – not only will your home smell divine, you’ll also have a tasty snack on hand for stress-eating later. Just remember, the scent of desperation is not as appealing, so maybe lay off the garlic before showings.

DIY Disasters:

Ah, the allure of DIY projects – so much potential, so little expertise. We’ve all been there, staring at a half-finished Pinterest project with confusion and a glue gun in hand. But when it comes to selling your home, it’s time to channel your inner Bob Vila (or at least binge-watch a few episodes of “Holmes on Homes “). Patch up those wonky paint jobs, fix that leaky faucet (or call a plumber). For the love of all that is holy, hide the evidence of your past DIY mishaps. Remember, buyers want a home, not a renovation project.

The Art of Staging:

Staging your home is like setting the scene for a blockbuster movie – except the star is your humble abode, and the audience is potential buyers judging your taste in throw pillows. So, embrace your Spielberg and get creative! Arrange your furniture to showcase the flow of each room, add some pops of color with tasteful décor, and don’t forget to hide your collection of corgi-themed knick-knacks (unless, of course, you’re selling to a fellow corgi enthusiast). And for an extra touch of whimsy, consider leaving out a bowl of fake fruit – because nothing says “buy my home” like a plastic banana.

The Final Countdown:

As the big day approaches, it’s time to become a Zen master and embrace the chaos. Remember, selling your home is just another adventure in this crazy journey we call life. So, laugh in the face of open houses, rejoice in the absurdity of negotiations, and toast to the future with a glass of champagne (or a cheap bottle of sparkling wine – no judgment here). After all, it’s not just a home you’re selling – it’s a treasure trove of memories, quirks, and maybe a few ghosts in the attic.

There you have it, dear homeowner – a humorous guide to getting your home ready for the market. Remember, laughter is the best medicine, especially when dealing with real estate shenanigans. So, embrace the chaos, crack a few jokes, and before you know it, you’ll be handing over the keys to your beloved home (or should I say, your “sold” home).

Happy selling!

YARD-TO-TABLE • 14 May 2024

Yard-to-Table: Backyard Chickens

by Dan DaCosta

Backyard chickens are the unsung heroes of suburban bliss; clucking their way into our hearts and refrigerators with an egg-cellent performance.

First off, there’s nothing quite like starting your day with a breakfast so farm-to-table, you practically still hear the hen cackling. Plus, they’re nature’s alarm clock, providing wake-up calls more reliable than your smartphone’s snooze button. But let’s not overlook their entertainment value. Chicken drama rivals anything you’ll find on reality TV—drama, romance,
and the occasional squabble over who gets the best perch. So, whether you’re a seasoned suburban farmer or just someone with a penchant for poultry puns, backyard chickens are the ultimate feathered friends, adding a touch of cluck-tastic charm to any backyard.

However, If you’re considering getting backyard chickens in Kingston, there are a few steps you’ll need to take to ensure you’re compliant with local regulations and prepared to care for your feathered friends:

Check Local Regulations: Before you get chickens, you should check the municipal bylaws in Kingston regarding urban poultry keeping. Regulations may include restrictions on the number of chickens allowed, coop requirements, and distance requirements from neighboring properties. (https://www.cityofkingston.ca/documents/10180/27306996/BackyardHens_Rules.pdf)
Permits and Licenses: Some municipalities require permits or licenses for keeping chickens. Check with the Kingston city council or local agricultural authorities to see if you need any permits or licenses. (https://www.cityofkingston.ca/residents/animals-pets/regulations)
Build or Buy a Coop: Chickens need a safe and secure coop to protect them from predators and the elements. You can either build one yourself or purchase a pre-made coop. Ensure that the coop is large enough for the number of chickens you plan to have and that it provides adequate ventilation and nesting space.
Choose Your Chickens: There are many different breeds of chickens, each with its own characteristics and egg-laying capabilities. Research different breeds to find ones that are well-suited to your climate and lifestyle. (https://www.willowsag.com/chick-days)
Purchase Supplies: In addition to a coop, you’ll need to purchase supplies such as feeders, waterers, bedding, and feed. Make sure you have everything set up before bringing your chickens home.
Care and Maintenance: Chickens require daily care, including feeding, watering, and egg collection. You’ll also need to regularly clean the coop and provide fresh bedding.
Join a Community: Consider joining a local community of backyard chicken enthusiasts. You can exchange tips and advice with other chicken keepers and participate in events like chicken swaps or coop tours. (https://www.facebook.com/groups/394038354113145/)

So, if you’re thinking about diving into the glamorous world of chicken keeping, well, buckle up! It’s not all sunshine and eggs over easy! But fear not, aspiring poultry enthusiasts, for amidst the chaos of feathers and feed, lies the promise of satisfaction as golden as the yolks they lay. So, if you’re ready to trade your Netflix binge for some real-life drama starring your very own flock, grab your overalls and get clucking—just be prepared to have a few feathers ruffled along the way!

KINGSTON • 1 May 2024

Kingston for a day

by Dan DaCosta

Planning a visit to Kingston? Whether you’re a newcomer or a lifelong resident seeking adventure, let’s map out an exciting day in this vibrant city.

Morning:

Start your day with a tasty breakfast at Pan Chancho Bakery & Café. Choose from their freshly baked goods and artisanal coffee to kickstart your adventure.

After breakfast, take a leisurely stroll along the Kingston waterfront. Enjoy the scenic views of Lake Ontario and explore Confederation Park.

Tour the beautiful Kingston City Hall. Learn about the city’s history and marvel at its stunning architecture on a guided tour.

Midday:

Treat yourself to a gourmet pizza lunch at Woodenheads Gourmet Pizza. Indulge in their creative pizza creations made with fresh, locally sourced ingredients.

Explore Kingston’s heritage sites in the afternoon. Visit Fort Henry National Historic Site for a glimpse into Canada’s military history, or tour the Kingston Penitentiary Museum for a unique look into the past.

Afternoon:

Discover downtown Kingston’s charm with a stroll through its boutique shops, art galleries, and historic landmarks. Browse unique souvenirs and locally made products while soaking in the vibrant atmosphere.

Join the Kingston Trolley Tour for a guided sightseeing excursion around the city. Learn about Kingston’s history, architecture, and notable landmarks from knowledgeable local guides.

Evening:

Enjoy a memorable dining experience at Tango Nuevo, a tapas restaurant offering innovative dishes inspired by global flavors.

Conclude your day with a relaxing evening cruise aboard the Island Queen. Take in the sunset views as you glide along the scenic waterways of the Thousand Islands region.

Wrap up your evening with a nightcap at The Toucan, a lively Irish pub known for its extensive beer selection and cozy ambiance.

Remember, this itinerary is flexible and can be adjusted based on your interests. Be sure to check the operating hours of attractions and restaurants in advance. If you need more suggestions for your day in Kingston, feel free to reach out!

SELLING • SELLING • 23 April 2024

The hard truth – selling your home costs money

by Dan DaCosta

Look at all that equity…

I bet you want to take advantage of it…
But how much will you actually get?

Selling a home doesn’t come without it’s share of expenses. Let’s take a look at some of the common costs associated with selling a home in Ontario.

1. Home Repairs and Improvements
Sellers may need to make repairs or improvements to their homes to make them more marketable. The cost of these can vary significantly depending on the condition of the property.

2. Commission
In many cases, sellers work with realtors to list and sell their homes. Standard commission in Ontario is around 5% of the sale price, and is shared between the buyer’s agent and the seller’s agent.

3. Legal Fees
Sellers typically hire a real estate lawyer to handle the legal aspects of the sale. Legal fees very, but generally range between $800 – $1000 depending on the complexity of the sale.

4. Pre-Sale Home Inspection
Some sellers opt to have a pre-sale inspection to identify and address any issues before listing the property. This can range from $400 – $600.
5. Mortgage Penalties
If you have a fixed-rate mortgage, and you’re selling it before the term is up, you may incur penalties. The exact amount depends on your mortgage terms and the lender.

6. Closing Adjustments
Sellers may be required to reimburse the buyer for prepaid property taxes, utility bills, or other expenses that extend beyond the closing date.

And there you have it folks. Nothing good comes for free.
It’s important to note that the actual costs can vary based on the specifics of the transaction and the local market conditions. As well, this is just a short list. There may be further expenses not included in this post.

16 April 2024

Selling Your Home – A Guide

by Dan DaCosta

Selling your home with me is a breeze—think ordering classic poutine, no frills, just the good stuff! I’ve mastered the art of making real estate transactions smooth sailing. Consider me your go-to guide for a drama-free selling experience. Here’s a breakdown of the steps to help you get that coveted SOLD sign in your front yard.

1. Let’s Talk Money

First things first: we need to determine the market value of your home. I’ll crunch the numbers, analyzing recent sales and current listings in your area to arrive at a price that attracts the most buyers and gets you the highest return.

2. Look Your Best

Homes that shine sell faster. While major renovations aren’t necessary, attending to minor repairs and maintenance can work wonders. Decluttering and depersonalizing create a blank canvas for potential buyers to envision themselves in their new home.

3. Show(ing) Time

With your home looking its best, it’s time to showcase it to the world. Our marketing plan includes professional photography, online listings, and social media ads to drum up interest. Get ready for a flurry of showings—we’ll gather feedback to fine-tune our strategy and attract offers.

4. Hand Reveal

Now comes the exciting part: offers! We’ll review each offer together and negotiate to find terms that suit your needs. Don’t be afraid to counter-offer; our goal is a win-win situation for both parties.

5. The Third Wheel(s)

Most offers come with conditions involving third parties. We’ll work with the buyer to accommodate these conditions and address any issues that arise, such as home inspections, negotiating repairs if necessary.

6. Keep It Legal

Time to bring in the legal experts (check out this list). Your chosen real estate lawyer will handle title searches, contract reviews, and ensure a seamless closing process. I’ll provide them with all the necessary information to keep things moving smoothly.

7. The Final Stretch

Congratulations, your house is sold! Behind the scenes, your lawyer will coordinate with the buyer’s lawyer to transfer ownership and funds. Be prepared for closing costs, including legal fees and real estate commissions.

With me by your side, selling your home is as easy as enjoying a delicious plate of poutine. Let’s make it happen!

BUYING • BUYING • 9 April 2024

Common questions when buying a home

by Dan DaCosta

Purchasing a property is pretty complex, and almost every scenario is different. There are a lot of key components occurring at once, which can make anyone confused. Here to help ease some of those pre-buying jitters, I have compiled a list of common questions that you may be pondering:

What are the current mortgage rates in Canada?

Rates are changing daily and I would recommend that you speak to several professionals regarding a mortgage. However, you are looking on average between 5% to 6% currently

How much can I afford to borrow for a mortgage?

This is dependent on a few key factors like credit score and your total debt ratio. For a rough idea, take a total of your family income and multiply by 40%, then with that number subtract all your current loan payments like car and credit card.

What is the minimum down payment required for buying a home in Canada?

The minimum down payment is about 5% although some lenders may require 10%. You should speak to a mortgage professional; depending on your situation there could be other options for you.

What are the additional costs associated with buying a home, such as closing costs and land transfer taxes?

There’s a blog post for that! Visit us here to see the rough costs of buying a home.

What is the difference between fixed-rate and variable-rate mortgages, and which is better for me?

A fixed rate mortgage means that the rate stays the same for a specific term, usually about 3 to 5 years. A variable rate allows change as the mortgage rate changes. I recommend you speak to a mortgage professional regarding which option would be better for your situation

What types of government incentives or programs are available for first-time homebuyers in Kingston?

As of right now Kingston is offering a down payment assistance program. https://www.cityofkingston.ca/residents/community-services/housing/programs/home-ownership

How does the home buying process in Canada work from start to finish?

I get this question a lot! So much so, that I created a blog post for that too! https://dan-dacosta.c21.ca/2024/03/26/realtors-guide-to-buying-a-home

What factors should I consider when choosing a neighborhood to buy a home in Kingston?

Kingston is full of great neighborhoods that would appeal to a large amount of people during different stages of your life. The best thing to do is establish what you need in a neighborhood, such as elementary schools or perhaps an exciting nightlife, and I am sure we can find you an area that works best for you.

How do I determine if a property is priced fairly/what factors affect property values in Kingston?

This is where I step in. When we come across a home that you are interested in, I will provide you with a list of comparable properties outlining what they have recently sold for, as well as any other information that i can dig up, so that you are making a very informed decision on the price

What are the differences between buying a pre-construction property and a re-sale property in Kingston?

With a re-sale home you are pretty much getting what you see, and with a new construction you get to make a lot of decision like flooring, cabinets, paint color, etc. However the luxury of buying a new home does come with some added expenses. If this route is something you are considering, then we would go through what the builders are offering in the areas that you are interested and make a decision from there

What is a home inspection, and why is it important?

A home inspection is simply having a knowledgeable person look over the property the same way you would have a mechanic look over a car and assess the condition it is in. I always recommend a licensed and insurance home inspector to provide you with a full report. Not saying your uncle Gary who does industrial plumbing isn’t great, but inspectors literally do this everyday. They bring a wealth of knowledge and proper tools to assess any property.

What are the common pitfalls to avoid when buying a home in Kingston?

I would say that adjusting your needs vs wants is a big one. Another thing I like to keep top of mind for my clients is that life can change unexpectedly, and making sure that although you have the home of your dreams, you may want or need to sell it in the future. Having a saleable home is much better then potentially losing on your investment in the future.

Buying a home can be scary of course but with our guidance we always make sure that you are comfortable with any and all of the decisions you make.

Have more questions? Feel free to send anything you want clarification on to dan.dacosta@century21.ca I’m always happy to help!

BUYING • 2 April 2024

How much your new home will ACTUALLY cost

by Dan DaCosta

Time to get serious. We’ve made it to the not-so-fun part – the actual cost of buying.

Sadly, there are several costs in addition to the purchase price.

Below are some of the most common expenses associated with buying a home in Ontario.

DOWN PAYMENT
Typically, buyers need to make a down payment on a home.
In Canada, a minimum of 5% is required.

MORTGAGE LOAN INSURANCE
If your down payment is less than 20% of the purchase price, you
may be required to obtain mortgage insurance. This cost is usually
rolled into your mortgage payment.

APPRAISAL FEE
Your lender may require an appraisal of the property to determine its
market value. In most cases this is paid by the borrower (you).

LAND TRANSFER TAX
This tax is payable by the buyer, and is based on the purchase price
of the property. First time home buyers may be eligible for a rebate.

HOME INSPECTION
While not mandatory, many buyers choose to have a home
inspection performed to identify any issues with the property. This
is generally at the expense of the buyer.

LEGAL FEES & DISBURSEMENTS
You will need a lawyer or notary to handle the legal aspects of the
home purchase. Legal fees and disbursements cover the costs of
their services.

TITLE INSURANCE
Title insurance protects you, the buyer, against any potential issues
with the title of the property. This cost varies, but is a one time
premium paid at closing.

UTILITY & SERVICE HOOKUPS
There may be costs associated with connecting utilities and other
services to your new home.

PROPERTY TAX ADJUSTMENTS
It is the responsibility of the buyer to reimburse the seller for any
prepaid property tax that overlaps with the possession date.

MOVING COSTS
Factor in the cost of hiring a moving company, or renting a truck to
move your belongings.

Let’s breakdown an example of closing costs for a home with a purchase price of $500,000.
(Please note that these figures are approximations, and actual costs may vary).

Purchase Price: $500,000

Down Payment: 5% of $500,000 = $25,000

Mortgage Loan Insurance (less than 20% down payment): 3.5% of ($500,000 – $25,000) = $16,275 **premiums often range between 2.8% – 4%**

Land Transfer Tax: Ontario has a tiered system for LTT
– 1st $55,000: 0.5% = $275
– $55,000 – $250,000: 1.0% = $1,950
– $250,000 – $400,000: 1.5% = $2,250
– Over $400,000: 2.0% = $2,000
Total Land Transfer Tax: $275 + $1,950 + $2,250 + $2,000 = $6,475

Legal Fees & Disbursements: $2,000
**this price varies greatly – estimate between $1,500 – $2,500**

Title Insurance: $400
**this price varies between $300 – $500**

Home Inspection: $500
**generally costs between $400 – $600**

Appraisal Fee: $400
**can range from $300 – $500**

Property Tax Adjustment: $500
**this is dependent on what the previous owner has paid, when you buy, etc.**

Utility & Service Hookups: $300
**dependent on what services are offered**

Moving Costs: $1,000

Grand Total Estimated Closing Costs: $52,850

Please keep in mind that these are rough estimates (and actual costs will vary), but essential to budget for in addition to the purchase price to ensure a smooth home buying process.
We will get accurate figures based on your specific circumstances. Additionally, tax rates and
regulations are constantly changing, so it’s advisable to check for any updates.

As your Realtor, I will be able to give you an accurate estimate based on your specific situation.