A few years ago the whole world was flipped upside down seemingly overnight as the COVID-19 pandemic emerged. As remote working models became the new normal in the two years following, a number of Ontarians gained new flexibility as to where they could call home. With no more commute to worry about, many residents from larger cities such as Toronto, Ottawa, and even Montréal chose to buy and settle in the Bay of Quinte region. 

In today’s real estate market, change is once again on the horizon. As offices begin to reopen, some Quinte residents are considering a return to the city. If you’re in this boat and feel stressed about the prospect of selling your home, it’s important to consider the other options that could work for you.  

In addition to pandemic-related market trends, real estate in the Bay of Quinte Region is also greatly impacted by rising Canadian interest rates. Learn more by reading our blog post on the topic here. 

Let’s Talk About Investment Properties

If you’re considering relocation back to the city, there’s a chance you’ve already started thinking about the process of selling your home. While this is the most common option, it’s not necessarily the best one for everyone. In fact, keeping your home in the Bay of Quinte region and using it as an investment property has some significant advantages. Based on your unique circumstances, it could be the best route for you. 

In a nutshell, keeping your home as an investment property means renting it out to tenants rather than selling it. Not only can renting out your home help you earn some fantastic side income (which can then be used towards the mortgage of your new home), but it also means you’ll have a home available if you ever move back. 

Should I Keep My Home?

So how can you tell if holding onto your home is the best path for you? There are a few things to consider. The first is your lifestyle. For instance, if you’re approaching retirement and hope to escape big city life once again in your golden years, keeping your home can allow you to bypass the potentially stressful buying process when you return.

Another thing you’ll need to consider if you choose to keep your home is property management. Managing tenants isn’t a full-time job, however, there will be occasional maintenance tasks and other duties you’ll be responsible for. If you have a friend, family member or trusted professional in the Bay of Quinte region who can help you with occasional management tasks while you’re in the city, you’ll be well set for owning an investment property. 

The second element to consider is financing. If you plan to buy again when you move to the city, you’ll need to have a sizable down payment prepared. While income from tenants can help you cover monthly mortgage payments, a down payment is more substantial. If you’ve got enough saved up for another home purchase or plan on renting next, keeping your current home could be a smart financial move. 

Like any major housing-related decision, you should always consult a trusted real estate agent before making the final call. A real estate agent can help you analyze both options from an industry perspective and ensure you’re set up for financial and personal success whichever route you take.

Need insights that can help you get the highest price for your home? Check out these posts from our blog. 

• How to Declutter Before You Sell
• What Renovations Should Not be DIY
• Equity-Building Home Upgrades

The Case For Selling 

Just like keeping your home, choosing whether or not you should sell requires a handful of considerations. From a lifestyle perspective, it’s important to think about what other changes your relocation will bring. For instance, are you a soon-to-be empty nester? If you return to Quinte in the future, will you still need a full-family home? Or maybe your return to the city also means getting back to a fast-paced urban lifestyle. If you’ve already got a lot on your plate, overseeing tenants could cause additional stress. 

Selling your home may also be the best path forward depending on your financial goals. If you plan on retiring in the next 10 years, selling your home could be a significant part of your long-term financial plan. 

Not sure if you should sell your home or keep it? As local real estate experts, we’d be happy to help you make the right decision. Get in touch.

For most homeowners in the Bay of Quinte Region, their home is also their biggest asset. When it comes time to sell, you’ll want to be informed of local market trends to make sure your sale is as successful as possible. 

If you’ve previously purchased or sold a home, you may have heard about “seasons” in real estate, i.e. certain periods during the year when homes sell for more or less money, along with a variety of other trends. If you’re thinking about selling your home, you may have wondered if there’s a right or wrong time of year to enter the market. 

While certain months will have more active buyers than others, there’s never a “bad” time or season to sell your home. However, understanding seasonal trends in advance and working with an experienced agent will be the best way to find success in the market. 

In addition to seasonal changes, real estate in the Bay of Quinte Region is also greatly impacted by rising Canadian interest rates. Learn more by reading our blog post on the topic here. 

The Winter Months

In addition to being the coldest months of the year, winter is typically the slowest season for real estate in the Bay of Quinte Region and most markets in North America. From November to February, fewer homes typically enter the market and those that do tend to take a little longer to sell. As you may expect, the driving factor for this slowdown is reflective of human habits during this time of year. 

For most Quinte residents, winter is busy. With the already hectic bustle of the holidays and most residents only having a limited time away from work or school, fewer sellers are willing to add a move to their plate. 

Of course, there are some instances where sellers don’t have the option to wait for spring or summer. The good news is that selling your home during the winter months can still help you land a good price. There is always a small pool of buyers active during the November to February stretch, and with fewer homes on the market, winter sellers have a strong opportunity to make their property stand out. 

Looking for more resources to help you maximize your home sale? Explore these blog posts. 

• How to Declutter Before You Sell
• What Renovations Should Not be DIY
• Equity-Building Home Upgrades

Selling in Spring 

Most years, the difference between the winter and spring real estate markets is night and day. As the weather gets a little warmer, real estate in the Bay of Quinte Region also begins to heat up. From March to May, the market sees a greater volume of both listings and transactions. Homes often spend less time on the market and increased buyer competition can nudge prices up a little bit. The peak of the spring market – May, is often the one of busiest months of the entire year in terms of total sales. 

Once again, the busy nature of spring real estate is primarily influenced by broader lifestyle trends. As the summer approaches, more buyers and sellers have the flexibility to make a big life change. They’ve also had a few months to dwell on their new year’s resolution and start working towards their real estate goals. 

As a seller, entering the spring market can certainly have its advantages. However, it’s not always the cakewalk that some assume. While greater competition among buyers can lead to a faster sale, today’s rising interest rates have cooled down other hot-market trends like bidding wars and bully offers. 

Thinking about selling your home and downsizing? Explore our blog post about finding the right time to downsize here. 

Summer Trends

Following the busy spring months, real estate in the Bay of Quinte typically slows down slightly from June through August. This change of pace is typically subtle, and some years the summer months can even be as busy as spring. There is still a healthy volume of transactions, however, homes will begin spending a little longer on the market and total transactions will drop slightly compared to spring. 

As anyone who’s lived through a Canadian winter knows, the warm weather of summer should be enjoyed to the fullest. With warmer temperatures, summer plans and vacations on the agenda, it’s no surprise that some people simply aren’t thinking about buying or selling during these months. 

Looking for more insights about working with a trusted real estate agent? Check out these other resources from our site. 

• How to Get a Home Valuation
• Selling With a Real Estate Agent
• What Our Clients Say About Working With Us

The Fall Boost

After the summer months, real estate in the Bay of Quinte will often see a small boost in activity during the fall. As more buyers look to secure a new home before winter, transactions in September and October often see a slight increase over the previous couple of months. Homes also tend to get snatched up a little faster. If the timing works for you and your family, fall can be an optimal time to sell. 

Even if you’re selling during one of the busiest markets of the year, working with a real estate agent is essential. Regardless of seasons, an experienced local agent will help you be as successful as you can be in your home sale while helping you navigate the logistics and legalities of selling. 

Thinking about selling your home? As proudly local Bay of Quinte agents, we can help. Get in touch.

Remember a few years ago when Marie Kondo was all the rage? Everyone was looking at their homes and figuring out what sparks joy. The phrase became kind of like a mantra for living a minimalist lifestyle. However, for many of us, living with only a few possessions is just not feasible. 

Most of us came out of that brief period of time with basements and closets still full of clutter. And you know what, that’s totally fine! 

However, when you’re planning to sell your home, one of the biggest favours you can do is declutter–and be relentless about it. 

Selling your home can feel overwhelming for even the most organized person. But with some planning and a little accountability, you can easily declutter your home and reap all the benefits. 

Here are a few strategies we recommend: 

First, Why is Decluttering Important? 

For many homeowners, decluttering is the first step to preparing your home for sale. And for good reason. There are many benefits to decluttering. Here are just a few: 

• If your home is being staged and photographed for listing, decluttering will give the stagers and photographers a better blank canvas to work with. 
• Your home will appear bigger and less cramped during showings.
• It will be easier to clean the home with less clutter taking up space.  
• Your home will present better overall with less clutter. 
• When buyers enter your home, they want to picture themselves living in the space. Sometimes that’s hard when there is clutter in the home. 
• You’re likely moving into a new home, so why would you want to bring a bunch of unused items into your new house? 
• You will also likely be packing to move into your new home. Decluttering early on will help you get a head start on packing! 

Decluttering is a great strategy for downsizers! Learn more about downsizing here.

How to Get Started 

It’s easy to look at your massive list of tasks, get overwhelmed and then not do any of them. But with decluttering, we’ve found that it’s easier to break things down into smaller, more manageable tasks. Create a game plan for yourself and try to make it fun. 

Think about the approach you want to take, maybe you want to start with the big items like furniture first. Or maybe you prefer a room-by-room approach. No matter what you choose, make sure you break things down into smaller steps for the most manageable and effective workloads. 

You also don’t need to do it all in one day. If you have a few weeks before your home is going up for sale, take some time each night and do it little by little. 

Looking for more resources to help you sell your home? Check out these blog posts and resources:

• What Renovations Should Not Be DIY
• Our Preferred List of Suppliers and Vendors
• Everything You Need to Know About Equity Building Renovations

Different Methods for Decluttering 

Everyone has their own methods, but when it comes to organizing your items, you can take a few different approaches. Here are some of our favourites:

The Post-It Method 

Head to an office supply store and pick up Post-It notes of different colours. Each colour represents a different action: keep, donate, sell, or trash. Go through your rooms and stick your Post-Its on the corresponding items. It will give you a better idea of the scale of stuff you are working with. It can also help you make faster decisions. 

The Box Method 

Similar to the Post-It method, this one involves different boxes with different purposes. This method would be ideal if you want to get started on your packing. Move different items to appropriate boxes. And then you have your moving boxes and the boxes that can get loaded into the car to be donated! 

The 12-12-12 Method

This one is great for people who are doing things at a slower pace. The 12-12-12 method involves picking 12 things to pack, 12 things to donate, and 12 things to throw out every day. (If 12 seems like a lot, you can also change this to the 10-10-10 method or even 5-5-5 method if you prefer! 

Moving with pets can add another layer of complications to your prep. Read more about how to move with pets right here.

Easy Things to Declutter First 

Depending on your personality, you might find it easier to part ways with certain belongings over others. But for many of us, the majority of our unused clutter can be found in just a few rooms in the home. Here are a few places we recommend starting your decluttering:

The Closet/Wardrobe

Chances are, you have a lot of clothes you don’t wear. Items that might not fit so well anymore, trendy pieces that have sadly gone out of style, garments you’ve been meaning to get repaired. This is likely the easiest place to begin your decluttering journey. Take an honest look at your clothes and decide if something is worth keeping or if you should donate it. Organizations like Value Village or Dress For Success are always looking for well-maintained items. If you have any high-end pieces you hate to part with, you can also look into luxury consignment stores. 

The Kitchen 

Not sure what to do with that crock pot you never use? Or what about the crystal that barely gets used once per year? The kitchen is another area of the home that collects clutter. We recommend going through your small appliances, then your kitchen accessories, and lastly take a look at all the food in your fridge and cupboard. Look at expiration dates and get rid of everything well past its prime. 

The Garage/Shed

If you have a garage, chances are, it has become an island for clutter. Old sporting equipment, unused tools, you name it. Many of these things can be donated to children in need if your kids aren’t using them anymore.

Looking for more home selling resources? Check out these pages here:

• What You Need to Know About Combining Family Households
• Selling with Us
• Get a Home Evaluation

What to Do with Items You Don’t Want Anymore 

Once you’ve identified everything you’d like to get rid of, now comes the challenge of figuring out what to do with it. Anything that should be thrown away or recycled will probably be pretty obvious. Services like 1-800-GOT-JUNK are perfect for an easy way to get rid of that household junk that you don’t want to move. 

For items that you want to donate, it might be a good idea to ask friends and family if they’d like to take a peek first. You never know who has been secretly coveting your belongings at the family reunions! 

Once your family has taken a look, you can bring those donations to any local charities or discount stores you prefer, The Salvation Army and Value Village are among the easiest choices for many people. 

You can also sell things if that’s more your style. Facebook Marketplace, eBay, and other sites like Maxsold are gaining popularity for selling household items. 

Looking to start your home selling journey? We can help with more than the decluttering! Reach out today and say hi here!

Whether you’re entering the market for the first time or simply moving on from your current place, there’s a lot that goes into buying a home.

To make things easier, we’ve put together a handy homebuying checklist to help you prepare for entering the market.  

If you’re looking to buy a home in the near future, here are a few things you can do in advance to make the process smoother. 

Determine Your Budget 

Before you begin your home buying journey you’ll need to know what you can reasonably afford. Not factoring in your downpayment, determining your home budget will primarily revolve around mortgage costs. Once you have a rough estimate of how much you’ll be able to contribute to a mortgage on a monthly basis, you can work backwards to set a rough price range. 

Need help build your budget? Use our handy Home Buying Calculator. 

Don’t forget that budgeting for a home also includes leaving space for additional costs beyond the home itself. As the buyer, you’ll be responsible for covering a handful of transaction-related items such as the home inspection, legal fees and land transfer taxes. Depending on your financial health, you may also require mortgage insurance. 

Ready Your Down Payment

Like most buyers, there’s a good chance you won’t be paying for your home all at once. Rather, you’ll need to make a sizeable down payment and pay off the remaining balance through your mortgage. In the past, a standard down payment in Canada was approximately 20% of the home’s sale price. However, as a result of inflation and other economic factors, that’s no longer the case today. 

In 2022, the Canadian minimum for a downpayment is 5%. That being said, you’re able to make as large of a down payment as you wish. The more you can contribute up front, the lower your monthly mortgage costs will be. 

Preparing to buy a home as part of a greater life change? Explore these helpful resources from our blog. 

• When is The Right Time to Downsize?
• Should You Buy a Cottage to Retire to?

Mortgage Basics 

Before you begin looking at listings, it’s important to have an understanding of how mortgages work and which type of mortgage is right for you. Mortgages are not one-size-fits-all and you’ll need to navigate the various options available before buying a home. 

The first step is finding a lender. You can work with your existing bank or an independent mortgage broker. Next, you’ll need to determine which type of mortgage will work best for you. This typically boils down to choosing between a fixed or variable interest rate. If you’re unsure about which direction makes the most sense for you, ask an expert. Your financial planner, bank and even real estate agent can offer advice based on your unique circumstances. 

Get Pre-Approved

Once you’ve found the mortgage that works for you, you’ll want to get pre-approved before heading to the market. A pre-approval means that your bank or lender has agreed (with conditions) to provide you with financing for your home purchase. 

Pre-approvals are typically easy to get and they don’t cost anything. Plus, once you’ve found your dream home, a mortgage pre-approval offers you a leg up during the offers and negotiations phase. 

Looking to buy a home in the Bay of Quinte Region? Our market is unlike any other in Ontario. Check out these blog posts to learn more. 

• Thinking About Buying Waterfront Property? Read This First
• 5 Things to Know Before Moving to Belleville

Find A Real Estate Agent 

Finally, you’ll want to find a great real estate agent who can support you throughout the buying process. Like mortgages, you’ll need to do some research in order to find the right agent for you. 

Working with a well-connected, local real estate agent can offer you a significant advantage during the buying process. Not only will they have an expansive knowledge of the local market, but they may also have industry connections that offer you access to off-market or private home listings. Your agent can also connect you with trusted real estate lawyers to help you navigate the various paperwork and legalities of buying.  

Hiring an agent is also essential if you choose to buy a pre-construction home or condo. As your primary advocate during the sales process, they’ll ensure you receive the best possible pricing for your home and offer any insights about the developer or surrounding area that may impact your enjoyment of the home. 

Ready to buy your next home? We’re here to help! Say hi.

While buying a waterfront property is similar to buying a traditional home, there are extra factors to consider. As real estate agents in the Bay of Quinte region, we’ve seen our fair share of waterside properties and have a few tips to pass along. 

If you’re thinking about buying waterfront property in Ontario, here’s what you need to know. 

Planning on buying property in a rural area as part of your retirement plan? Read this first. 

Verify Property Lines

One of the more fickle elements of waterfront homeownership is property lines. It is often assumed that the shoreline along a piece of private property serves as its legal boundary. However, this isn’t always the case. In many instances, homeowners don’t actually own the land where the water meets the shore. It instead belongs to the crown. Property lines on waterfront homes vary by local jurisdiction, so it’s important to do your due diligence before making any assumptions. 

In Canada, the official borders of a waterfront property determine the owner’s riparian rights, i.e. the ability to use the water for irrigation, recreational use and other purposes. Therefore, it’s important you clearly understand the property owner’s rights and responsibilities before making an offer on a property. Your real estate agent can help you with this process. It may be as simple as checking the land title document or contacting the appropriate jurisdiction. 

Thinking about buying a new home? Check out these resources from our blog. 

• How Rising Interest Rates Are Impacting Real Estate in the Bay of Quinte
• Home Buying Calculator
• A Guide to Moving With Pets

Dock Rights

Waterfront properties are subject to strict regulations and bylaws when it comes to new developments or projects along the shoreline. If you want to build a dock or even upgrade the one already on the property, you’ll likely have to deal with some red tape. In some cases, you may not have the ability to build a dock at all. While Ontario recently reduced certain requirements for small shoreline developments, federal and municipal regulations still apply in many areas. If a dock is a must-have feature for you, you’ll want to verify a property’s development rights before you buy. 

Past Floodings

In Canada, flooding is one of the most common property-impacting natural disasters. Therefore, before you buy, you should verify whether or not a property has been flooded before. This includes the physical home itself and surrounding property. Although most sellers are transparent about a property’s flood history, it’s best to do some additional research as a precautionary measure. FloodSmart Canada has a comprehensive list of flood maps in all provinces and territories. Ontario also maintains a detailed flood map specific to the province itself, along with additional resources for emergency preparedness. 

As you may expect, flood insurance is a must-have for waterfront homeowners. Your property’s flood history and potential risk of flooding in the future will directly impact your insurance premiums. 

Water Quality 

One of the primary benefits of owning a waterfront home is having great activities like swimming, fishing or boating directly at your doorstep. Just like the rest of the property, you’ll want to verify the quality and condition of the water before you decide to buy. Even if you don’t plan on using the water for recreational purposes, neglecting to assess the water quality could cause issues down the line. Poor water quality, invasive plant species or high levels of pollution could limit the water’s usability, causing the property value to shrink over time. Poor water quality can also negatively impact the surrounding environment, leading to ecological issues or damages. 

Buying With an Agent

Like any home purchase, working with a real estate agent is the best place to start. Not only can a great agent help you find your dream home by the water, but their unique insights and industry expertise can ensure you see the complete picture of what waterfront ownership entails. Plus, they can help you navigate any legal considerations or red tape associated with the property. 

Ready to find the perfect waterfront home? As dedicated local agents, we can help. Contact us today.

Just like humans, moving can also be a stressful process for your pet. Thankfully, with the right planning and preparation, you can make the transition as easy as possible for both of you. 

Here are a few quick tips for planning your move as a pet parent. 

Make an Appointment With Their Vet

The best place to start when planning a move with your pet is with their veterinarian. As an experienced animal caregiver, your vet can help you build a complete preparation checklist and offer extra steps for ensuring your pet is calm and comfortable during the move.

You may also need to coordinate changes to your pet’s health care routine based on how far away you’ll be moving. For instance, if you’re relocating across the country or province, you will need to find a reputable veterinarian in your new town or city. Your current vet should be able to recommend a great animal hospital near your new home. They’ll also help you transfer your pet’s existing medical records to the new vet. 

Moving Day

Moving day can be quite stressful for both people and pets. As you will have a lot on your hands already, planning accommodations for your pet ahead of time is the best way to be prepared. Keeping your pet separated from the often chaotic moving process can prevent them from being startled and making a getaway attempt while the moving van is being loaded. If you’re simply moving across town, consider making daycare or pet sitting arrangements on moving day.

If it’s not possible to have your pet stay elsewhere on moving day, keep them in a familiar room with the door closed to reduce the noise and commotion they’re exposed to. 

Looking for more helpful articles about settling in the Bay of Quinte Region? Check out these blog posts. 

• Working From Home in the Bay of Quinte With Style
• Our Favourite Belleville Restaurants For Date Night
• 5 Things to Know Before Moving to Belleville

Pet Proofing Your New Home

Before settling in, you’ll want to make a few preparations to help your pet transition to the new space. Start with a deep clean. While this is a good idea regardless, if the previous owner of your new home also had pets, any lingering scents could cause anxiety for your furry family members. 

Next, reduce any potential hazards that could be a risk to your pet. Ensure there are no pest or rodent traps laying around for them to find accidentally. While they make great housewarming gifts, some common house plants like lilies or aloe can also be toxic or harmful for both dogs and cats. Always do your research or ask a veterinarian before introducing a new plant species to your home. 

Getting Settled 

For many pets, arriving in a completely new home can be overwhelming. Rather than let them roam free right off the bat, you’ll want to ease them into the new space slowly. To prevent them from being overwhelmed, start by introducing them to one room in your new house first. Pick a quiet room and tailor the space for your pet using treats, food and water, and a few of their favourite toys. Once they seem comfortable, slowly introduce them to other rooms by allowing them to explore the house at their own pace. 

If you have a cat, it’s best to relocate their litter box from the original room to a more permanent place in the house over a few days. 

Update IDs and Microchips

Even if you’re moving within the same town or city, you will need to update your pet’s identifications, tags and microchips (if applicable). This is one of the most important items on the list, as updating your information is essential to helping your pet get home safe if they’re lost. 

For tags and identification, you can update your address via the municipality your pet is currently registered in. Or, if you’re moving to a new town or city, you’ll simply need to register them with the new municipality. If your pet has a microchip, you’ll most likely need to update it directly through the registration database. Most microchips in Canada are part of the EIDAP or AVID Canada, however,  you can check your pet’s adoption paperwork or veterinary health records if you’re unsure.

Getting ready to move? We can help you find your dream home and sell your current one. Contact us.

Over the past decade, a growing number of buyers have flocked to Belleville in search of larger, more affordable properties and a break from the fast-paced life of Ontario’s larger cities. 

While there are countless reasons why you should move to the Bay of Quinte region, there are a few things to consider before you take the leap. Here are 5 things to know before moving to Belleville. 

1. Size & Population

Before you decide whether or not to call Belleville home, you’ll want to factor in the city’s size and profile. If you are relatively unfamiliar with the Bay of Quinte region, Belleville may be smaller or larger than you expected. Today Belleville is home to just over 50,000 residents. However, when factoring in surrounding towns and communities, the regional population rounds out to approximately 200,000. 

All things considered, Belleville is a small city. While locals do have a strong sense of community and identity, it’s certainly far from being a village. Belleville’s cultural and retail amenities create a distinct sense of urbanity in the city’s historic downtown centre. Although there’s absolutely less hustle and bustle compared to Ontario’s larger urban cores, Belleville still offers a handful of big city perks. 

As proud Belleville locals, our city means a lot to us. Learn about some of the vital community initiatives and organizations we support here. 

2. Getting Around

Most residents in the Bay of Quinte region drive rather than rely on public transit. If you’re accustomed to using the expansive public transit network of a larger city, you may need to tailor your expectations when you relocate. While Belleville does offer public transit, service is less frequent compared to major hubs. That being said, you may still be able to live car-free depending on the location of your home and other lifestyle factors. 

Belleville does offer residents high-quality transit services to other towns and cities. For connections across Ontario and Quebec, Belleville is well served by VIA Rail, with multiple trains stopping through each day. For frequent flyers, there’s a direct shuttle bus service from Belleville to Toronto Pearson International Airport. 

3. Schools & Education

Whether you currently have children or are looking to grow your family in the future, it’s important to familiarize yourself with the landscape of Belleville’s school system before you decide to buy. Belleville is home to several elementary and high schools, with most belonging to the Hastings Prince Edward District Board or the Algonquin & Lakeshore Catholic District School Board. There are also multiple private schools for parents looking to provide an exclusive learning experience for their children. Canada’s oldest private co-ed school, Albert College, is located right in the heart of the city and caters to students from pre-kindergarten to grade 12. 

Want to learn more about new condos and custom homes in Belleville? Check out these blog posts. 

• Should You Use a Realtor When Buying a Pre-Construction Home?
• Is a Custom Home Right For You?
• New Condo Developments in the Bay of Quinte Region

4. Real Estate is Shifting 

Real estate in Belleville is unique. As a steadily growing city, the local housing landscape has evolved over the past few years. Once a hot seller’s market (like other parts of Ontario), conditions are slowly beginning to balance out. 

Today, there are still plenty of properties entering the market, both new developments and existing homes. While housing prices are up compared to a few years ago, homes are generally still more affordable in Bellville than in most other cities in Ontario. 

5. You’ll Want to Work With a Local Agent

Buying a new home is no small process. This is especially true if you’re relocating. Even if you have some familiarity with Belleville, it’s important to work with a real estate agent who truly knows the city like the back of their hand. 

Not only can a local agent help you find a great home, but their distinct expertise can help you determine which part of the city will be best for you to settle in based on your unique needs and circumstances. Plus, in a quickly evolving housing market like Belleville, a local agent who deeply understands past and present trends can ensure you pay the right price for your home.

Thinking about moving to Belleville? As local real estate experts, we can help. Contact us.

Given their direct impact on mortgage costs, interest rates have a big influence on real estate. Today, as interest rates continue to rise, the housing landscape across Ontario is beginning to shift. After nearly two years of an active seller’s market, new trends are beginning to emerge.

Here’s what you need to know. 

Market Recap

Real estate in the Bay of Quinte region has seen a lot of growth in the past decade. While some communities were impacted more than others, housing prices for the most part climbed steadily through the 2010s. Then in early 2020, the market would see an unprecedented boost in activity.

During the early months of the COVID-19 pandemic, the Bank of Canada drastically lowered their target interest rate in an effort to reduce economic damages. As a result of this drop, mortgages suddenly became more affordable for Canadians and a huge influx of buyers entered the market almost overnight. This led to an incredibly competitive seller’s market in most areas around the province. Housing prices consistently broke records and bidding wars became the norm. 

Rising Interest Rates

In March of 2022, the Bank of Canada announced it would be finally raising its target interest rate in order to combat growing inflation. Since then, recurring hikes have lifted the target rate from 0.25% to 2.5%. As mortgages are now more expensive, this sharp increase has priced a fair number of previously-eligible buyers out of the market. 

With costly mortgages, fewer buyers today are entering the market compared to the past two years. As a result, Bay of Quinte real estate has slowed down noticeably. That being said, a slower market doesn’t mean conditions have flipped altogether. In reality, things are steadily becoming more balanced. 

Looking for new ways to upgrade your home? Explore these blog posts. 

• How to Build a Home Office in Style
• What Renovations Shouldn’t Be DIY
• Everything You Need to Know About Custom Homes

Balancing Act

Despite fewer buyers in today’s market, homes are still being listed for sale at similar rates compared to the past few years. As available housing supply is now slowly catching up to demand, the previously hot seller’s market is starting to cool off. However, despite this slower pace, real estate in the Bay of Quinte hasn’t done a complete 180. 

While some dynamics are shifting, we aren’t exactly seeing a buyer’s market. In actuality, conditions are fairly balanced, with both buyers and sellers finding success. Rather than falling, housing prices have remained stable. While this could change in the future, sellers can still feel confident in today’s market. 

Thinking about selling your home and downsizing? Explore our blog post about finding the right time to downsize here. 

What Buyers Should Know

Although it may be more difficult to secure financing for a new home, buyers who are able to afford a mortgage will experience a more laid-back buying process compared to the past two years. 

With less competition in the market, buyers can be less aggressive and take their time while buying a home. While prices are stable, less buyer competition also means fewer multi-offer scenarios where buyers will have to bid against each other. Competitive tactics such as bully offers have also become less common. 

Plus, as more homes remain available on the market, today’s buyers have more properties to choose from during their search. This can allow buyers to be patient and not compromise on important details. 

What Sellers Should Know

Although some sellers may feel like they’ve missed out on getting the best price for their home, that’s not the case. While some of these emerging trends do favour buyers, sellers still have plenty of opportunities to find success as the market balances out. If you’re looking to sell your home, the best place to start is with a real estate agent. 

A great agent can help you prepare your home for the market to maximize ROI. Then they’ll incorporate the latest marketing and presentation strategies to ensure your home attracts the right buyers. 

Look to buy or sell? As experienced local agents, we can help you navigate the shifting market. Contact us.

As a natural part of the cycle of homeownership, downsizing comes with plenty of new perks and opportunities. That being said, transitioning to a smaller living space is a big decision, and timing plays a critical role in ensuring it’s the right move for you.  

If you’re thinking about downsizing from your current home, here are a few things to consider when determining when to make the jump. 

Why Downsize

Change is a natural part of life. As you get older, your unique needs will evolve, and your home should evolve alongside you. For most homeowners, this involves transitioning to a smaller living space that is better tailored to their new needs. Plus, downsizing can help make the next chapter of your life easier and more enjoyable too. 

In most instances, downsizing means less time spent cleaning or doing maintenance on your smaller property. It also allows you to explore a wide array of properties that provide unique perks you wouldn’t otherwise have access to. Many modern condo developments are great examples of this. In addition to the convenience of having property maintenance taken care of, condo living can also come with a handful of great amenities for you to enjoy.  

Finally, downsizing also comes with its economic advantages. With common price differences in mind, selling your current home and moving into a smaller place can help you free up funds for your golden years. Plus, downsizing often means paying less in property taxes which can also help you cut back on costs. 

Want to learn more about new condo developments and custom homes? Check out these other resources from our site. 

• Should You Use a Realtor When Buying a Pre-Construction Home?
• Is a Custom Home Right For You?
• New Condo Developments in the Bay of Quinte Region

Your Vision For the Future

What does your ideal future look like? Frequent travel? More time spent with loved ones? From both a lifestyle and financial perspective, selling your home and downsizing to a smaller space can play a key role in your personal planning. However, no two homeowners are the same and determining when the best time will be for you to downsize starts with understanding your vision for the future. 

Before you dive into the downsizing process, take a moment to determine what your ideal future will look like. This will help you make clear and confident decisions about when is best for you to make the transition. 

Thinking about retiring or downsizing to Cottage Country? Read this first. 

Benefits of Downsizing Early 

One of the primary perks that come with downsizing is flexibility. Based on your unique circumstances, downsizing early could allow you to take advantage of this flexibility sooner. For example, if you see lots of travel and time spent away from home in the next chapter of your life, switching to a smaller home early can help you be ready to pack up and go whenever you like. 

Downsizing early also has its financial benefits. Although market conditions are settling as we adjust to new economic trends, demand for housing in Ontario is likely to remain high into the future. If you plan on buying as you downsize, getting into the market sooner rather than later can help you avoid rising prices. 

If transitioning to a smaller living space plays a big role in your long-term financial planning, talk to your real estate agent. They can analyze the value of your current home and help you make the right decision based on market trends. 

Looking for more insights about your home as an investment asset? Check out these resources from our blog. 

• A Guide to Secondary Suites
• Everything You Need to Know About Equity Building Renovations

When to Wait

While downsizing early has its advantages, there are some instances where waiting a while longer to make the transition could be the right choice. In these circumstances, one of the primary considerations is often location. For instance, if you live in a rural area and wish to remain nearby, you may not have many great options for downsizing. Staying put for a few more years can help you enjoy your community for as long as possible. 

On the other hand, if you’re looking to transition to a new area that’s closer to family or certain amenities. You may need to be patient in order to find a great place within your desired proximity. 

Like any move, downsizing is a big decision. A great first step in navigating this process is speaking with a real estate agent. As an expert in your local market, they can analyze your unique goals, needs and financial standing to help you make the right move.  

Thinking about downsizing? We can help. Get in touch with us. 

Whether you’re looking to boost your property value or simply want to make your living space feel more modern and comfortable, renovations are a great way to refresh your home. Depending on what you’re looking to achieve, undertaking certain renovations yourself can help you cut back on costs. That being said, some home upgrades are more complex than others, and attempting them yourself can be risky, unsafe or outright illegal.  

While a DIY approach will work for some renovations, others are best left to the professionals. If any of the following renovations are on your list, call an expert. They’ll ensure the job is done safely and successfully.  

Looking for local contractors? As experts in all things housing, we can connect you with top industry professionals for your project. Explore our preferred suppliers and vendors. 

Major Changes to Plumbing 

While minor problems such as a leaky faucet can be an easy fix, significant upgrades to your plumbing should always be performed by a professional plumber. Any mistakes or miscalculations could lead to seriously damaging leaks or floods. Not to mention, changes to plumbing often involve working near electrical wiring, which can pose a serious risk of electric shock. 

Looking for more ways to upgrade your home? Check out these resources from our blog. 

• Working From Home in the Bay of Quinte With Style
• Everything You Need to Know About Equity-building Renovations in 2022

Replacing an Electrical Panel

Any renovations involving your home’s electricity or power should be taken very seriously. Your home’s electrical panel is complex, and any changes you wish to make to it are best suited for an expert. Not only could attempting to replace it yourself cause serious shock, but rewriting efforts can also lead to electrical fires. Beyond safety concerns, repairs to your electrical panel could also cause code violations. 

Adding Skylights or Windows 

While a skylight can be a great addition to any room, the installation process can have some serious complications if not performed perfectly. Like windows, any missteps in a skylight installation will leave your home susceptible to damage from the elements. This could lead to structural damage, pests, rot or even electrical complications. 

Repairing or Installing an A/C Unit

While many homeowners rely on portable air conditioning devices to stay cool in the summer, permanent A/C fixtures are a great solution for more encompassing temperature control. However, installing or making changes to a permanent unit is much more complicated than its portable counterpart. As these systems often use chemical coolants, any mistakes could expose you and your family to toxic pollutants. Along with these dangers, HVAC renovations also pose the same basic risks as most other DIY upgrades, such as electrocution and structural damage. 

Interested in building a custom home? Check out these resources on our blog. 

• Should You Use a Realtor When Buying a Pre-Construction Home?
• Is a Custom Home Right For You?
• Home Buying Calculator

Replacing Shingles 

Like installing an A/C unit, replacing fallen or damaged roof shingles is far more complex than it appears on the surface. Although hammering a new shingle in place may seem straightforward, mistakes during installation could lead to significant property damage. Not to mention the added risks that come with working on the roof of your home. Any slips or falls could lead to serious injury or worse. Shingles are best handled by professionals, just like the other items on this list. 

Removing Insulation

Removing insulation is particularly dangerous in older homes as it could contain asbestos – a known carcinogen. Although the removal process may seem simple on the surface, the potential risks of contaminated insulation make this task best suited for a contractor. 

Renovating Your Home for the Market

If you’re planning on selling your home in the near future, you may have considered taking on a few renovations before you list. While certain upgrades can help your home sell faster and for a great price, some projects may not be worth it in the long run. If you’re renovating with the goal of achieving a strong return on your investment, talk to a real estate agent. 

Like contractors, agents are experts when it comes to homes. They can evaluate your property and determine which projects will help you get the most out of your sale. A great agent can also help you plan for the other steps that come with selling your home, such as staging. 

Looking for guidance with your home improvement project? We can help! Get in touch with us.