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A Return to ‘Normal’? The State of Real Estate in 2022
Last year was one for the real estate history books. The pandemic helped usher in a buying frenzy that led to a record number of home sales and a historically-high rate of appreciation, as prices soared by a national average of 19.9% year over year, according to the Canadian Real Estate Association.1
There were signs in the second quarter that the red-hot housing market was beginning to simmer down. In June, the pace of sales slowed while the average sales price dipped 5.5% below the springtime peak.2
But just when the market seemed to be cooling, home prices and sales volume ticked up again in the fall, leading the Royal Bank of Canada to speculate: “Canada’s housing market run has more in the tank.”3
So what’s ahead for the Canadian real estate market in 2022? Here’s where industry experts predict the market is headed in the coming year.
MORTGAGE RATES WILL CREEP UP
The Bank of Canada has signalled that it plans to begin raising interest rates in the “middle quarters” of this year.4 What does that mean for mortgage rates?
Expect higher variable mortgage rates to come. In fact, according to industry trade blog Canadian Mortgage Trends, some lenders have already begun raising their variable rates in preparation. And according to the site, “Current market forecasts show the Bank of Canada on track for seven quarter-point (25 bps) rate hikes by the end of 2023, with Scotiabank expecting eight rate hikes.”5
Since September, fixed mortgage rates—which follow the 5-year Bank of Canada bond yield—have also been climbing.5 Fortunately, economists believe the housing sector is well-positioned to absorb these higher interest rates.
Derek Holt, Scotiabank vice president and head of capital markets economics, told Canadian Mortgage Professional magazine in November, “The large increase in cash balances that occurred over the pandemic combined with the record-high amount of home equity on Canadian balance sheets, to me, paints a picture of a household sector that can manage the rate shock we’re likely to get.”4
What does it mean for you? Low mortgage rates can reduce your monthly payment, make it easier to qualify for a mortgage, and make homeownership more affordable. Fortunately, there’s still time to take advantage of historically-low rates. We’d be happy to connect you with a trusted lending professional in our network.
VOLUME OF SALES WILL DECREASE
A record number of homes were sold in Canada last year. The Canadian Real Estate Association estimates that 656,300 home purchases took place, which is an 18.8% increase over 2020.6 So it’s no surprise that the pace of sales would eventually slow.
The association predicts that, nationally, the number of home sales will fall by 12.1% in 2022, which would still make 2022 the second-best year on record.1
It attributes this relative slowdown to affordability challenges and a lack of inventory but expects sales volume to remain high by historical standards. “Limited supply and higher prices are expected to tap the brakes on activity in 2022 compared to 2021, although increased churn in resale markets resulting from the COVID-related shake-up to so many people’s lives may continue to boost activity above what was normal before COVID-19.”6
What does it mean for you? The frenzied market we experienced last year required a drop-everything commitment from many of our clients, so a slower pace of sales should be a welcome relief. However, buyers should still be prepared to compete for the best properties. We can help you craft a compelling offer without compromising your best interests.
THE MARKET WILL BECOME MORE BALANCED
In 2021, we experienced one of the most competitive real estate markets ever. Fears about the virus, a shift to remote work, and economic stimulus triggered a huge uptick in demand. At the same time, many existing homeowners delayed their plans to sell, and supply and labour shortages hindered new construction.
This led to an extreme market imbalance that benefitted sellers and frustrated buyers. According to Abhilasha Singh, an economist at Moody’s Analytics, “almost all indicators of housing market activity shot through the roof.” But, she continued, “The housing market is now showing signs of returning to earth.”7
The Royal Bank of Canada expects to see demand soften gradually as rising prices and interest rates push the cost of homeownership out of reach for many would-be buyers.3 And while the supply of available homes continues to remain low, according to Singh, “the pace of building in Canada remains elevated compared with historical averages thanks to low interest rates.”7
What does it mean for you? If you struggled to buy a home last year, there may be some relief on the horizon. Softening demand could make it easier to finally secure the home of your dreams. If you’re a seller, it’s still a great time to cash out your big equity gains! And with less competition and a slower pace of sales, you’ll have an easier time finding your next home. Reach out for a free consultation so we can discuss your specific needs and goals.
HOME PRICES LIKELY TO KEEP CLIMBING, BUT AT A SLOWER PACE
Nationwide, home prices rose an average of 19.9% in 2021. But the rate of appreciation is expected to slow down in 2022. The Canadian Real Estate Association forecasts that the national average home price will increase by 5.6% to $718,000 in 2022.6
Singh of Moody’s Analytics agrees that price growth will slow this year and could “reach a near standstill in late 2022 but avoid any significant contractions.”7
However, some experts caution against a “wait and see” mentality for buyers. “Affordability is unlikely to improve [this] year as prices should march higher, even as interest rates creep upwards as well,” Rishi Sondhi, an economist at TD Economics, told Reuters. “We think rate hikes will weigh on, but not upend, demand, as the macro backdrop should remain supportive for sales.”8
What does it mean for you? If you’re a buyer who has been waiting on the sidelines for home prices to drop, you may be out of luck. Even if home prices dip slightly (and most economists expect them to rise) any savings are likely to be offset by higher mortgage rates. The good news is that decreased competition means more choice and less likelihood of a bidding war. We can help you get the most for your money in today’s market.
WE’RE HERE TO GUIDE YOU
While national real estate numbers and predictions can provide a “big picture” outlook for the year, real estate is local. And as local market experts, we can guide you through the ins and outs of our market and the local issues that are likely to drive home values in your particular neighbourhood.
If you’re considering buying or selling a home in 2022, contact us now to schedule a free consultation. We’ll work with you to develop an action plan to meet your real estate goals this year.
Sources:
1. Toronto Sun -
https://torontosun.com/life/homes/real-estate-market-on-track-to-break-records
2. National Post -
https://nationalpost.com/life/homes/the-great-real-estate-cool-down-has-come
3. Royal Bank of Canada -
https://thoughtleadership.rbc.com/canadas-housing-market-run-has-more-in-the-tank/
4. Canadian Mortgage Professional Magazine -
https://www.mpamag.com/ca/mortgage-industry/industry-trends/how-likely-is-a-canada-housing-crash/315742
5. Canadian Mortgage Trends -
https://www.canadianmortgagetrends.com/2021/11/fixed-rate-increases-costing-todays-homebuyers-over-10000-more-in-interest/
6. Canadian Real Estate Association -
https://www.crea.ca/housing-market-stats/quarterly-forecasts/
7. Moody's Analytics -
https://www.moodysanalytics.com/-/media/article/2021/10-canada-housing-market-outlook.pdf
8. Reuters -
https://www.reuters.com/article/canada-property-poll-idCAKBN2IM06V
For many people the idea of retirement means freedom to travel, or maybe even enjoy hobbies you’ve been putting off with your busy work schedule. For others, retirement comes with dreams of homeownership abroad. Have you dreamt of restoring a crumbling villa in the south of France? Or how about spending your days on the beach in the Caribbean? Rest assured; you’re not alone! The good news is, there are those who have already forged the way who can offer you advice.
Countries may place restrictions on foreigners owning property, which is why it’s always important to speak with a REALTOR® with experience working internationally, before settling on a dream destination. REALTORS® work hard to stay on top of industry regulations and designations, In addition, they have access to CREA Global, a global directory of resources, professional development, and exclusive networking opportunities with other REALTORS® from across the globe. You should also look into specific visa requirements and other documentation to make sure you have everything you need before purchasing a home. Otherwise, you may be stuck with payments on a property that you’re not able to live in.
For example, terms and conditions vary from country to country in the EU and property ownership rules vary greatly between regions, including taxation of pensions and land transfer taxes. In France, you can expect to pay a 10% land transfer tax as a purchaser of any property.
Thomas Watkins, a real estate professional in Turks and Caicos says 90% of the buyers in the territory are from North America. He says there are no restrictions on foreigners owning property in Turks and Caicos, no capital gains on property transfers, and no estate or inheritance taxes which are all big attractions to potential retirees. However, for Turks and Caicos, there’s a one-time Stamp Duty charge payable to the Turks and Caicos Islands government when you purchase your property. If you’re considering the powdery sand beaches of the Caribbean, says Watkins, it’s important to know properties are in high demand.
“Many times, properties will be sold by the time buyers are able to make the trip!” he shares. Another reason to get a good REALTOR® before getting your heart set on your dream home!
As for financing your property abroad, several of Canada’s big banks offer overseas mortgages with a 20% down payment. Of course, cash is always king or there’s the possibility of a home equity line of credit, depending on what you currently own in Canada.
But, can you truly move full time to another country without losing your Canadian benefits? The short answer is no. You can stay six months abroad at one time before needing to come home to Canada to maintain your social insurance benefits, unless special circumstances apply. Living abroad can also affect how you file your taxes based on your residency status. It’s important to verify these things with the government before you make any permanent decisions to avoid future hiccups.
In 2014, Will and Laila (who have asked to keep their real names private) fell in love with the Turks and Caicos during a trip to the Caribbean Island to enjoy the sunshine. It became a regular trip for the couple, who eventually got married there a few years later. Logically, the next step was to start looking for property because, as Will said, “it was the one place we knew we’d always want to go back to.”
When they started shopping in earnest, they asked around for a real estate broker and decided on one well known in the area. They purchased a condo unit within walking distance to the beach, knowing it would be an easy rental until they are ready to retire.
“It’s important, if you’re doing it this way, that you’re prepared for unforeseen circumstances,” they warn. For them it was the pandemic and occasional repairs or tenants, but they still feel it’s all worthwhile.
“Our real estate broker lives just down the street and keeps an eye on things, that really helps,” they admit. “But it’s important to get to know the people around you so you can get things fixed when you aren’t there.”
It’s a sentiment echoed by Andrew Eddy, who moved to Provence, France 10 years ago. He bought a 17th century provincial farmhouse in various stages of disrepair and neglect. Eddy spent several years restoring it, and after a change in his personal circumstances, he followed his heart to Burgundy, having fallen in love with the area during his youth. His current project is restoring a 17th century Burgundian manor house.
“The first lesson, I would tell people dreaming of retiring in Europe, is to get to know the area you are moving to,” Eddy says. “Go for an extended holiday. Spend months there if you can. Save yourself a lot of money by being informed before you make the decision to buy.”
The time you spend visiting the country is a good opportunity to decide what kind of property you’re looking for. A 300-year-old fixer-upper might be something you want to tackle at 55, but maybe not so much at 75. It’s important to know your limits and what you’re hoping to gain out of your retirement.
When it comes to retiring overseas, the idea can be extremely enticing. However, there’s more to it than just finding a home you love and packing your bags! Before making any big real estate decisions, it’s important to speak with a REALTOR® who can help you sell your current home and connect you with the right resources to make sure everything is done properly.
The article above is for information purposes and is not financial advice or a substitute for financial counsel.
Every year, it seems the holidays sneak up on us—and every year, that brings with it the dreaded last-minute gift panic. Finding a present that hits all the right notes can be surprisingly stressful, even when it comes to people you’ve known for years.
But have no fear! We’ve lined up a list of gifts for every “type” on your list. And since we work in real estate, they’re all centred around home life. From the coffee snob to the sports enthusiast, these presents are the perfect way to bring beauty, function or a touch of whimsy to your loved one’s home this holiday season.
FOR THOSE WHO ARE ALWAYS IN THE KITCHEN
We all know someone whose kitchen is their happy place—but once all the basics are covered, it can be hard to find the perfect present. These gifts will be a treat for the chef, baker, or food lover on your list, no matter how well equipped they are.
Glass Pour-Over Coffeemaker - $75
Have a java lover on your list who just can’t get their brew right at home? This high-end pour-over system makes a smooth brew that can even be refrigerated and reheated so your recipient can enjoy a perfect cup at any time.
Pink Oyster Mushroom Growing Kit - $65
Help your favourite gourmand create restaurant-quality meals with this kit, which allows them to grow delicious mushrooms right in their cupboard. All they’ll need to do is soak the package and then mist it with water for a few days, and voila—delicious organic mushrooms!
Vintage Etched Cake Stand - $87
If you’re lucky enough to have a fabulous home baker on your list, give a gift that reflects the joy their treats bring to others. This lovely glass cake stand is the platform that a beautifully decorated dessert deserves.
Flowering Tea Set - $35
Your favourite tea lover may have tried all of the herbal blends out there, but we bet they haven’t seen tea like this. This set contains two “blossoms” of tea leaves hand-sewn around flowers that bloom when you place them in the included glass teapot and add hot water.
FOR THOSE WHO WOULD RATHER BE IN THE BACKYARD
For many of us, time outdoors is the ultimate source of rejuvenation. The nature-lover on your list is sure to appreciate these presents that help them maximize that joy in their daily lives.
Large Garden Tote - $66
Dedicated gardeners all need a great bag to carry their gear. This tote is attractive and sturdy and will help them keep their home’s exterior beautiful and welcoming.
Monthly Flower Subscription - starting at $60/month
If your loved one prefers to enjoy their flora without all the work, a delivery of farm-fresh flowers is sure to surprise and delight. And you can keep the joy blossoming year-round with a weekly, semi-monthly or monthly subscription.
Reusable Stainless Steel Straws - $14
Know someone who is trying to bring less plastic into their home? This set of reusable metal straws means they’ll never have to buy a box of plastic straws again. And the assortment of sizes ensures that they’ll work with anything from a tall glass of water to a to-go mug.
Solar Phone Charger - $50
Have a camper or adventurer on your list? This solar-powered phone charger, which comes with a built-in flashlight and compass, is a must-have. It will also make a great addition to their home emergency kit.
FOR THOSE WITH THEIR NOSE TO THE GRINDSTONE
Like it or not, most of us spend a good chunk of our lives working—whether at a job or on projects and chores around the house. These gifts are designed to make that work a bit easier and more enjoyable.
Home Office Lap Desk - $45
Working at home can be great—in part because you can work from anywhere in the house. The remote worker on your list will appreciate this lap desk with a built-in mouse pad and phone slot, which will allow them to work comfortably from the couch or the bed without overheating their computer.
Bento Lunch Box - $35
If your loved one is heading back to the office, it doesn’t mean they have to give up the healthy habit of a home-cooked meal. Send them to work with this stylish lunch box packed full of nutritious food.
Laser Measure - $35
The handy person on your list can say goodbye to unwieldy tape measures with this nifty device. It’s perfect for DIY projects of any size.
UV Sanitizer and Charger - $70
In the COVID-19 era, we’ve all become a little germaphobic. This UV smartphone sanitizer kills bacteria while it charges. Plus, its clever design enables you to hear your phone notifications while the device is in use.
FOR THOSE MOST PASSIONATE ABOUT THEIR HOBBIES
Of course, there’s a lot more to life than work. If you’re gifting a friend or family member who really lights up when they talk about their hobbies, we’ve got you covered.
Hockey Stick BBQ Set - $61
Looking for a gift for the sports enthusiast in your life that isn’t another jersey? These BBQ tools made from repurposed hockey sticks are a great pick. Perfect for cooking up food to watch with the game!
The Book Lover’s Journal - $19
Know someone who loves to curl up on the couch with a good book? This journal will help the book-lover on your list keep track of what they’ve read, as well as their ever-growing “to-read” list.
Marathon Map Hydration Bottle- $49
Help the runner you love to stay hydrated (and motivated) with a water bottle inscribed with their favourite race route. It’s perfect for runs around the neighbourhood or just toting around the house.
Travel Backpack - $120
Make it easy for the travel lover on your list to bring back souvenirs. This lightweight backpack folds flat so it’s easy to pack but sturdy enough to carry their new treasures all the way home.
FOR THOSE WHO PUT FAMILY FIRST
For many of us, the greatest joy in life comes from our relationship with our family. Help your recipient strengthen and celebrate those all-important connections with these thoughtful gifts.
4-in-1 Baby Food Maker - $230
It’s hard to know what to buy for new parents once their registry is cleared out, but if they’re interested in making baby food at home, this tool is a must-have. It makes the process, from steaming to mixing, fast and easy.
DNA Kit - $129
Know someone interested in reconnecting with their ancestral home? This DNA kit can help them trace their geographical heritage and uncover their family history.
Custom Printed Socks - $28
Is your friend’s dog their favourite family member? These adorable socks are sure to put a smile on their face as they cozy up on the couch with their pup. And since you can feature up to two pets on each pair of socks, no one needs to feel left out.
Mini Link Printer - $130
We all have that relative who snaps a million photos at every family event. Help them capture each precious moment with this unique gadget that essentially transforms a smartphone into a Polaroid camera. It makes it easy to customize and print out snapshots to display around the house or insert into a scrapbook for posterity.
READY TO GIVE YOURSELF THE ULTIMATE GIFT?
We want to be your real estate consultants through every season of life. So please don’t hesitate to reach out with questions or to ask for recommendations or referrals any time of year. And when you’re ready to give yourself the gift of a new home, contact us to talk about your options. From finding the right neighbourhood to identifying the amenities that will make the biggest difference to your quality of life, we’re always eager to help.
New Build or Existing Home: Which One Is Right for You?
Homebuyers today are facing a huge dilemma. There simply aren’t enough homes for sale.1
Nationwide, the number of newly listed homes dipped slightly in September, down 1.6% from August. According to the Canadian Real Estate Association, that’s only about 2.1 months of inventory, which is far less than the five to six months that is generally needed to strike a healthy balance between supply and demand.2
Given the limited number of available properties, if you’re a buyer in today’s market, you may need to expand your search to include both new construction and resale homes. But it can feel a little like comparing apples to oranges.
Let’s take a closer look at some of the factors you should take into account when choosing between a new build or an existing home.
TIMEFRAME
How quickly do you want (or need) to move into your next home? Your timeframe can be a determining factor when it comes to choosing between a new build or resale.
New Build
If you opt for new construction, you may be surprised by how long you have to wait to get the keys to your new digs. Nationally, the average timeline has more than doubled over the past 20 years from 9 to 21 months.1 And according to a survey by the Canadian Home Builders’ Association, nearly 60% of builders are reporting delays—averaging six weeks—due to supply-chain disruptions brought on by the pandemic.3
These supply shortages have led to soaring prices, causing some builders to cancel contracts or demand more money from unsuspecting homebuyers long after agreements were signed.4 Unfortunately, this scenario can throw a major wrench in your moving plans and delay your timeline even further.
To minimize these types of surprises, it’s crucial to have a real estate agent represent you in a new home purchase. We can help negotiate contract terms and advise you about the potential risks involved.
Existing Home
If you're in a hurry to move into your next residence, then you may want to stick to shopping for an existing home.
You can typically move into a resale home on your closing date.5 While closing on an existing home can take anywhere from a few weeks to a few months, it’s almost always faster than the time it would take to build a new one.
If you need to move even sooner, it’s sometimes possible to close faster, especially if you’re a cash buyer. In fact, many sellers prefer a quick closing, so it can give you an advantage in a competitive market.
LOCATION
From commute to construction to walkability, there’s a lot to consider when choosing your next neighbourhood.
New Build
Canada is currently undergoing a major residential construction boom, and rural and smaller urban communities have been the first to benefit—primarily because the single-detached homes located in those areas take less time to build.6 That means, if you opt for a new single-family home, you could be facing a longer commute and ongoing construction for some time.
If you prefer a multifamily unit, there should be an increased supply coming on the market soon. Over the past year, condos and apartments have accounted for 55% of the housing starts. A growing number of these are located in master-planned communities that combine residential, retail, restaurants, and office space—enabling residents to live, work, and play in a single space.7
Existing Home
An existing home is more likely to be located in a neighbourhood with mature trees, established schools, and a deeply-rooted community. As a result, you may find the neighbourhood's trajectory to be more predictable than an up-and-coming area.
But the amenities may be lacking and the infrastructure dated when compared to newer communities. And while some homebuyers love the charm and eclectic feel of an older neighbourhood, others prefer the sleek and cohesive look of a newer development.
MAINTENANCE
Are you a DIY enthusiast, or do you prefer a low-maintenance lifestyle? Set realistic expectations about how much time, effort, and money you want to devote to maintaining your next home.
New Build
When you build a home, everything is brand new. Therefore, in the first few years at least, you can expect less required maintenance and repairs. A 2019 survey found that millennials' homebuying regrets often came down to maintenance issues, rather than other concerns.8 So if you would rather spend your weekends exploring your new neighbourhood than fixing a leaky faucet, you may be happier buying a turnkey build.
That doesn't mean, though, that a new home will be entirely maintenance-free. In fact, depending on the builder, you could find yourself repairing more than you expected. Some home builders have reputations for shoddy construction and subpar materials, so it's important to choose one with a solid reputation. We can help you identify the quality builders in our area.
Existing Home
No matter how good a deal you got when you purchased it, you could come to regret buying an older home if it later costs you heavily in unexpected maintenance and repairs. For example, according to the home service professional network HomeStars, the average price to replace an HVAC system is $4,995. And you can expect to pay a similar amount ($4,750) for a new asphalt shingle roof.9
Fortunately, there are ways to prepare for these large expenditures ahead of time. We always recommend that our buyers hire a certified home inspector, whether they buy a new or existing home. Once we have the inspector’s report, we can negotiate with the seller on your behalf for reasonable repairs or concessions.
ENVIRONMENTAL IMPACT
On a quest for greener living? If so, there are several factors to consider when deciding on your next home.
New Build
There’s a growing demand for energy-efficient housing, and many builders are rising to the challenge. Currently, more than one million homes in Canada have received an EnerGuide Rating, which measures a home’s energy performance against a benchmark.10 While all newly-constructed housing must meet the National Building Code requirements, there are a number of certifications that homes can earn if they receive an EnerGuide rating that exceeds these minimum standards.
Examples include the Net Zero label from the Canadian Home Builders’ Association, which is awarded to homes that are 80% more energy efficient than conventional homes and utilize a renewable energy system to fulfill their remaining energy needs. ENERGY STAR and R-2000 are other well-regarded certifications that can be earned by homes that meet certain performance standards. So if energy efficiency is a top priority, a new home with a low EnerGuide rating or recognized designation may be a good choice for you.10
Existing Home
Of course, a basic tenant of sustainable living is: reduce, reuse, recycle. And since a resale home already exists, it automatically comes with a lower carbon footprint. Research has also shown that remodelling or retrofitting an older home is often greener than building one from scratch.11
With some energy-conservation effort and strategic upgrades, environmentally-conscious consumers can feel good about buying an existing home, as well.
DESIGN
Double vanity? Kitchen island? Whirlpool tub? Must-have design features could drive your decision to build or buy resale.
New Build
With a new home, you can bet that everything will look shiny and perfect when you move in. Builders tend to put a lot of emphasis on visual details and follow the latest design trends. For example, newly-built homes are likely to include features that the majority of today’s buyers want, such as double bathroom sinks, kitchen islands, and walk-in pantries. They’re also less likely to include home theatre rooms or whirlpool tubs, both of which have lost mass appeal.12
However, some buyers complain of the cookie-cutter feel of new homes since they are often built with a similar aesthetic. That doesn't mean, though, that you can't incorporate your own style. We can help you negotiate custom features and upgrades to personalize the space and make it feel like your own.
Existing Home
In some of the most coveted neighbourhoods, an older home with classic styling and character can be highly sought after. But unless the previous homeowners have invested in tasteful updates, an existing home is also more likely to look dated.
While some buyers prefer the traditional look and character of an older home, others prefer something more modern. If that’s the case, we can help you find a resale home that leaves enough room in your budget to renovate it to your liking.
WHICHEVER PATH YOU CHOOSE, WE CAN HELP
When it comes to choosing between a new build or an existing home, there’s no one-size-fits-all answer. There are numerous factors to consider, and you may have to make some compromises along the way. But the homebuying process doesn’t have to feel overwhelming.
We’re here to help. And in many cases, our homebuyer guidance and expertise are available at no cost to you! That’s because the home seller or home builder may compensate us with a commission at closing.
Some new-construction homebuyers make the mistake of visiting a builder’s sales office or even purchasing a home without their own real estate representative. But keep in mind, the builder’s agent or “sales consultant” has their best interests in mind—not yours.
We are knowledgeable about both the new construction and resale home options in our area, and we can help you make an informed decision, negotiate a fair price, and avoid mistakes that can cost you time and money. So give us a call today to schedule a free, no-obligation consultation—and let’s start searching for your next home!
Sources:
1. RBC -
https://thoughtleadership.rbc.com/home-builders-are-tackling-canadas-housing-supply-shortage/
2. Canadian Real Estate Association -
https://creastats.crea.ca/en-CA/
3. Financial Post -
https://financialpost.com/real-estate/homebuilders-have-been-busy-during-the-pandemic-but-canada-still-needs-more-housing
4. Better Dwelling -
https://betterdwelling.com/canadian-home-builders-are-asking-buyers-for-more-money-to-finish-building/#_
5. Legal Line -
https://www.legalline.ca/legal-answers/when-can-you-move-into-your-newly-purchased-home/
6. Financial Post -
https://financialpost.com/real-estate/there-has-never-been-more-housing-under-construction-in-canada-but-the-city-that-needs-it-the-most-is-missing-the-boom
7. BC Business - https://www.bcbusiness.ca/2021-Real-Estate-Report-With-a-push-from-COVID-the-BC-property-market-enters-new-territory
8. Bankrate -
https://www.bankrate.com/real-estate/homebuyer-regret-survey-may-2021/
9. HomeStars -
https://homestars.com/cost-guides/
10. Canadian Home Builders’ Association -
https://blog.chba.ca/2021/05/14/are-all-energy-efficient-homes-the-same/
11. Advanced Materials Research - https://www.researchgate.net/publication/271358381_Comparative_Study_of_New_Construction_and_Renovation_Project_Based_on_Carbon_Emission
12. Canadian Home Builders’ Association -
https://blog.chba.ca/2020/11/26/todays-new-home-buyers-preferences/
Shut Down Home Intruders With These 7 Safety Strategies
A break and enter occurs every 90 seconds in Canada.1 Fortunately, there are some proven tactics you can use to decrease your likelihood of a home invasion.
Most burglars won’t go to extreme lengths to enter your home. They are looking for easy access with minimal risk. A monitored security system can be an effective deterrent—homes without one are 300% more likely to be burglarized—but it isn’t the only way to protect your property.2 The strategies below can help to maximize your home’s security and minimize your chances of being targeted by intruders.
Thinking about listing your home? We have some additional recommendations for you. Contact us to find out the procedures we use to keep our clients and their property safe and secure during the buying and selling process.
According to insurance company SGI Canada, the most common entry point for a burglar is through a basement or ground floor door or window.1 So securing these points of entry is essential.
● Evaluate the condition of your doors and locks.
A steel door is generally considered the strongest, but many homeowners prefer the look of wood. Whatever material you choose, make sure it has a solid core and pair it with a sturdy deadbolt lock that is a minimum of 2.5 cm long when thrown.3
● Add window locks and security film.
Aftermarket window locks are an easy and inexpensive upgrade that can provide an additional layer of protection for your home. Choose a lock that is compatible with your window frame material and a style that is appropriate for the window type. And consider using a specialty film on windows that are adjacent to a door. Security film holds shattered glass in place, making the windows more difficult to penetrate.4
When it comes to outdoor landscaping, many of us think about maintenance and curb appeal. But the choices we make can impact our home’s security, as well. Thieves target homes that they can enter and exit without being detected. Here are a few tweaks that can make your property less appealing to potential intruders.
● Increase visibility from the street.
A privacy hedge may keep out nosy neighbours, but it can also welcome thieves—so trim overgrown trees and shrubs that obstruct the view of your property. According to police officers, they offer an ideal environment for criminals to hide.5
● Place thorny bushes and noisy gravel below windows.
Don’t eliminate shrubbery altogether, though. Certain hedges can actually offer a deterrent to robbers. Plant thorny rose bushes or sharp-leaved holly beneath your first-story windows for both beauty and protection. Add some loose gravel that crunches when disturbed.
When it’s dark outside, criminals don’t need to rely on overgrown shrubbery to hide. Luckily, a well-designed outdoor lighting system can make your home both safer and more attractive.
● Install landscape lighting.
Eliminate pockets of darkness around your yard and home’s perimeter with strategically placed outdoor lights. Use a combination of flood, spot, well, and pathway lights to add interest and highlight natural and architectural details.
● Use motion-activated security lights to startle intruders.
The soft glow of landscape lighting isn’t always enough to dissuade a determined intruder. But a motion-activated security light may stop him in his tracks. And if you choose a Wi-Fi connected smart version, you can receive notifications on your phone when there’s movement on your property.
Motion-activated lights aren’t the only way to make an intruder think you’re at home. New technology has made it increasingly possible to monitor your home while you’re away. This is especially important since most burglaries take place between 10 am and 3 pm, when many of us are at work or school.6
● Turn on your TV and leave a car in the driveway.
A survey of convicted burglars revealed that the majority avoid breaking into homes if they can hear a television or if there’s a vehicle parked in the driveway.7 If you’re away from home, try connecting your TV to a timer or smart plug. And when you travel, leave your car out or ask a neighbour to park theirs in your driveway.
● Install a video doorbell.
In that same survey, every respondent said they would knock or ring the doorbell before breaking into a home. A video doorbell not only alerts you to the presence of a visitor, it also enables you to see, hear, and talk with them remotely from your smartphone—so they’ll never know you’re gone.
Few home invasions are conducted by criminal masterminds. In fact, a survey of convicted offenders found that only 12% planned their robberies in advance, while the majority acted spontaneously.8 That’s one of the reasons security experts caution against placing valuables where they are visible from the outside.9
● Check sightlines from your doors and windows.
Don’t tempt robbers with a clear view of the most commonly stolen items, which are cash (think purses and wallets), jewelry, electronics, firearms, and drugs (both illegal and prescription).5 Take a walk around your property to make sure none of these items are easily visible.
● Secure valuables in a safe.
Consider the possessions that are on display inside your home, as well. It’s always a good idea to lock up firearms, sensitive documents, and expensive or irreplaceable items when you have housekeepers or other service providers on your property.
While it’s prudent to hide your valuables, it’s equally important to advertise your home’s security features. In surveys, convicted burglars admit to avoiding homes with obvious protective measures in place.7,8
● Install outdoor cameras.
Security cameras are the most common home protection device and for good reason.10 Not only do they help prevent crime (burglars are known to avoid them11), they can offer peace of mind for homeowners who want to sneak a peek at their property while away. And if you do experience a break and enter, security camera footage can help police identify your intruder.
● Post warning signs.
Security system placards and beware-of-dog signs are also shown to be effective deterrents.8 Of course, you should back up your threats with a noisy alarm and loud barking dog for maximum impact.
Social media platforms can be a great way to stay connected with friends and family, but it’s easy to reveal more than you’ve intended. Be thoughtful about what you’re posting—and who has access.
● Delay posting photos or travel updates.
It can be tempting to upload a concert selfie or pictures from your beach vacation. But these types of photos scream: “My house is unoccupied!” Try to wait until you’ve returned home to share the photos on social media.
● Set privacy restrictions on your accounts.
Think twice about connecting with strangers or casual acquaintances on social media. If you enjoy sharing family updates and personal photos, it’s safer to limit your followers to those you truly know and trust.
YOUR HOME IS SAFE WITH US
We take home security seriously. That’s why we have screening procedures in place to keep our clients and their homes safe when they are for sale. We also remind our buyers to change the locks before they move into their new homes and provide referrals to locksmiths and home security companies that can help. To learn more about our procedures and how you can stay safe during the buying and selling process, contact us to schedule a free consultation!
~Chalsey~
Sources:
1. SGI Canada -
https://www.sgicanada.ca/news?title=preventing-break-ins
2. Bankrate -
https://www.bankrate.com/insurance/homeowners-insurance/house-burglary-statistics/
3. Square One -
https://www.squareone.ca/resource-centres/home-personal-safety/preventing-break-ins
4. SafeWise -
https://www.safewise.com/blog/10-simple-ways-to-secure-your-new-home/
5. Toronto Police Department -
https://www.torontopolice.on.ca/crimeprevention/environmental.pdf
6. Canadian Security Professionals -
https://www.cspalarms.ca/blog/safety/home-robberies-by-the-numbers-when-you-should-be-the-most-alert/
7. KGW News -
https://www.kgw.com/article/news/investigations/86-burglars-say-how-they-break-into-homes/283-344213396
8. Science Daily -
https://www.sciencedaily.com/releases/2013/05/130516160916.htm
9. Security.org -
https://www.security.org/home-security-systems/home-invasion-protection/
10. SafeWise -
https://www.safewise.com/resources/security-stats-facts/
11. The Guardian -
https://www.theguardian.com/business/2017/aug/18/former-burglars-barking-dogs-cctv-best-deterrent
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