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        <title>Real Estate Blog</title>
        <link>https://www.okotoks.com/blog/</link>
        <description></description>
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    <guid>https://www.okotoks.com/blog/updating-a-rental-property.html</guid>
    <link>https://www.okotoks.com/blog/updating-a-rental-property.html</link>
        <author>justin@justinhavre.com (Justin Havre Real Estate Team)</author>
        <title>Updating a Rental Property: 5 Valuable Upgrades For Shared Spaces</title>
    <description> <![CDATA[ 


Upgrading common spaces can be an effective way to boost your investment property's value and maximize the satisfaction of tenants and property managers. Based on recent stats, the home improvement market is worth more than half a billion dollars, and 60.4 million American households are now using smart home devices. Whether you're a newly becoming a landlord or you're a seasoned pro, these five common-space upgrades will increase tenant comfort and boost the value of your investment.


Try a Fresh Coat of Paint


Giving your common space a fresh coat of paint can add life to a room and create an energizing atmosphere. Prioritize paint in lobby spaces and hallways, as these are often the first places a potential new tenant will see on your property.


Whether you're painting the walls, ceiling, or other elements in the space, the essential factors you should consider are color, sheen, and durability. Be sure to choose a color that complements the current furniture and decor. Bold colors can help create impactful visual statements, while lighter shades are ideal if you are trying to create a calming atmosphere.


Depending on where you're painting, you may need to choose between matte or glossy finishes. The former is better for hiding imperfections, while the latter enhances light exposure. Additionally, consider choosing durable paints that will withstand frequent cleaning or activity.


Update Your Tech Devices


Updating your common space's tech devices can help keep up with the growing demand for smart homes. Consider investing in a high-speed internet connection, high-resolution video conferencing, and even interactive displays to help tenants get the information they need quickly and efficiently. For study rooms or lounge areas, consider upgrading TVs and computer systems to give your residents a modern and streamlined experience.


Adding an automation system can help tenants control lights, blinds, and other devices from their smartphones. This is especially helpful for common areas with a lot of traffic, as it can help increase energy efficiency.


Upgrade Your Entry Systems


Upgrading a property's entry systems can be an effective way to increase security and convenience. A fob entry system is an excellent option for facilities that require control over who has access to common areas. They are typically composed of a small electronic device, referred to as a fob, as well as a door-locking mechanism.


Generally, the user carries the fob with them. It contains an embedded radio frequency identification (RFID) chip or other technology that transmits an encrypted signal when waved in front of the reader at the doorway. The receiver deciphers the signal and allows access based on whether or not the user is authorized.


Installing a fob entry system requires careful consideration of factors such as cost, installation type, and compatibility with existing locks and readers. Other things to take into account are scalability for future expansion, power requirements for both the reader and lock, indoor/outdoor use cases, and overall security features such as audit capabilities.


Add New Decor &amp; Furniture


Creating an aesthetically-pleasing space that residents actually enjoy using is key. Upgraded decor choices and new, fresh furniture can help retain current tenants and attract new ones. When deciding on the decor, consider incorporating design elements that residents can connect to and reflect the property's culture. For instance, you could hang works of art from local artists or photographs of popular nearby attractions.


As for the furniture, consider investing in pieces with multi-functionality. For example, a coffee table with storage compartments can also be used as additional seating. Additionally, look for pieces made from durable materials such as metal or wood. This will help ensure your furniture lasts for years, providing a great return on investment.


Finally, try to include plenty of seating options and enough space for multiple people. This will help create an inviting atmosphere that encourages tenants to stay and socialize in the common area.


Introduce Common Space Reservation Management


For common rooms such as party spaces or study rooms that need to be reserved ahead of time, try implementing a computerized reservation management system that can easily track reservations and space use. This makes the process easier for tenants and easier to manage on the property manager's side. Such systems make it simple for tenants to book a room in advance, saving them time and hassle. In addition, property managers can set limits on how many people can book a room at once and enforce house rules such as no smoking or loud music. Such a system can also be used to generate reports on usage, which can be helpful for budgeting and forecasting.


Which Upgrades Are Best For Your Investment Property?


In conclusion, there are many ways to upgrade a property's common areas, from adding automation systems to installing new entry systems to introducing common space reservation management to updating decor and furniture. By taking the time to make these improvements, property owners can make smarter real estate investments by creating inviting spaces that their tenants will love.


 ]]> </description>
    <pubDate>Tue, 14 Mar 2023 11:10:00 -0600</pubDate>
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<item>
    <guid>https://www.okotoks.com/blog/okotoks-real-estate-market-update.html</guid>
    <link>https://www.okotoks.com/blog/okotoks-real-estate-market-update.html</link>
        <author>justin@justinhavre.com (Justin Havre Real Estate Team)</author>
        <title>Okotoks Real Estate Market Update [Q1 2022]</title>
    <description> <![CDATA[ 







Having the most up-to-date information about the Okotoks real estate market is essential for those ready to buy or sell a home. Our Okotoks market update provides the latest real estate data to give buyers an inside look to best prepare for their upcoming buying or selling journey. Interested in learning more? Keep reading to discover the latest information regarding the real estate market in April 2022 for Okotoks, Alberta.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


Real Estate Market in Okotoks: What to Expect Going into May 2022


The total number of sales in Okotoks in April 2022 was 121, reflecting a 9 increase compared to last year and a 19.9 increase in 2022. Detached homes made up most of these home sales, followed by row homes and apartments.


While this shows rising demand for Okotoks real estate, the inventory isn't replenishing at the same rate. April home sales exceeded new Okotoks market listings. There were 115 new listings in Okotoks in April 2022, 2.5 lower than in April of last year. However, this is an increase of 14.7 year to date.


With lower housing inventory in Okotoks, real estate prices have increased 13 this year. CREB reports that the total residential benchmark price in Okotoks is $538,300, up 13 from last year. Detached and semi-detached homes had the most significant price growth, common in most current real estate markets.


Most properties sold between $500,000 and $600,000 in Okotoks during April 2022. Compared to April 2021, there was an increase in homes priced between $200,000 and $300,000 and $600,000 and $999,000.


Eighty-six Okotoks homes were in inventory in April 2022, down 20.4 since last year. This number has continued to decrease each month this year, reflecting the area's tight market and high demand for real estate.


Okotoks Real Estate Market: What's to Come?


As inventory in Okotoks and the surrounding area remains low, we believe the market will continue to favour sellers. However, other factors, like inflation or appreciation, may influence the best time to buy or sell a home in Okotoks.


If you're in the market to buy a home in Okotoks, prepare for steep competition and start with your strongest offer, backed by pre-approval, all-cash, or other ways to make you stand out from the seller.


With that being said, it's an excellent time to be a seller in Okotoks. Sellers can list now and be assured of having plenty of competing buyers, or they can try to wait to see how high sale prices will climb. Our Calgary Home Evaluation Request can help you get started if you're ready to sell your home.


Justin Havre &amp; Associates of RE/MAX First Will Keep You Updated on the Okotoks Real Estate Market


In a real estate market that's constantly changing, it can be challenging to stay on top of the latest trends. Our site is updated regularly, so check back or reach out to Justin Havre &amp; Associates of RE/MAX for the latest updates on all things Okotoks real estate.




For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.





 ]]> </description>
    <pubDate>Mon, 16 May 2022 14:55:00 -0600</pubDate>
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    <guid>https://www.okotoks.com/blog/how-to-be-a-landlord.html</guid>
    <link>https://www.okotoks.com/blog/how-to-be-a-landlord.html</link>
        <author>justin@justinhavre.com (Justin Havre Real Estate Team)</author>
        <title>How to Be a Landlord: Tips For First-Time Investment Property Owners</title>
    <description> <![CDATA[ 


Have you just purchased your first rental property? Investment properties can be a great way to increase your wealth with passive income and real estate appreciation. Being a landlord is a big adjustment, though. If you want your rental property to be a success, you'll need to start with the right advice. Here are the real estate investing tips you need to make money.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


Research, Research, Research


Before you even purchase your property, you need to know its worth. Before listing your property, look at the area's real estate market conditions. Pay close attention to trends and fluctuations in the market that will allow you to predict future trends.


Look at the value of other properties in the area to ensure your property is priced competitively. If there are other property investors in the area, try reaching out to them to gain some knowledge from their market experience. Receiving advice from a seasoned property investor can help you to advance your understanding quickly.


Attracting The Right Tenants


You must ensure that your property marketing includes all aspects that attract the right tenants. Learn about your target demographic and develop an appropriate marketing strategy.


Regardless of who you're renting to, you highlight the property's amenities. Home security, nearby restaurants, and an on-site gym are likely to appeal to all renters. Knowing who your ideal tenant is will help inform how you market your property and the features you highlight in your listing to attract this type of tenant.


Consider Property Upgrades


Property upgrades are a great way to maximize the value of your property and increase interest in the property from prospective tenants. However, assessing the property's condition and faults is essential to ensure you are prioritizing the upgrades correctly. When performing upgrades, you must consider your ideal tenant and the features they would be most excited about.


Below is a list of the property upgrades you should consider to increase the value of your property.


Appliances


Your tenants will need convenient and easy-to-use appliances in their homes. Take stock of the devices in your property and see which ones need to be updated, need repairs, or are unsightly. Prioritize repairing or updating these appliances to attract tenants. If you opt for new, high-spec devices, this will add value to the property.


Security Measures And Systems


Your tenants deserve to feel secure in their homes, so you must prioritize security. Consider installing smart door locks that protect the property from intruders, allowing tenants to enter using a code, fingerprint, keycard, fob, or mobile device.


Additionally, you should consider placing security cameras on the property's exterior to deter a potential crime. Simply putting surveillance cameras in clear view will help to prevent criminals from attempting to enter the property. You'll also need to decide between analog cameras vs. digital cameras. You can opt for analog security cameras for more savings, but digital security cameras provide high-quality footage that will make your security footage more useful in a criminal investigation.


Curb Appeal Upgrades


To enhance the value of your property, you can invest in curb appeal upgrades. Consider which of these options would most increase the visual appeal of your property:




Lawn services - ensuring the greenery on your property is in order will make it instantly more attractive.


Driveway upgrades - cracked concrete can instantly draw from a property's visual appeal. Consider investing in a new driveway or pathway for the property.


Front door - if the property's front door is worn, chipped, or unsightly, updating it will improve the whole feel of the property's exterior.




You can also remove and update fencing, structures, and unsightly elements in the front and back gardens to ensure your property's value isn't inhibited.


Energy Efficiency


Tenants will be looking at the energy cost of a property. Consider installing energy-efficient appliances and upgrades to enhance your property's appeal. Solar panels and smart appliances are great ways to make your rental stand-out in today's energy-concious market.


Determine What Your Team Will Look Like


Taking on the role of a property manager can be extremely time-consuming and may not be ideal if you have a family, job, and other responsibilities. Consider outsourcing your property management, accounting, and property marketing to a professional service to reduce your workload and free up your time.


Are You Ready to Rent Out a Property?


As a new property investor, it's essential to improve the value of your property and maximize your income. Consider what type of investment property is best for you, then think about which upgrades would make your property attractive to this tenant. To ensure property management is not consumed too much of your time, you'll also need to look at what team looks like.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


 ]]> </description>
    <pubDate>Fri, 13 May 2022 10:02:00 -0600</pubDate>
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    <guid>https://www.okotoks.com/blog/real-estate-investing-tips-okotoks-calgary.html</guid>
    <link>https://www.okotoks.com/blog/real-estate-investing-tips-okotoks-calgary.html</link>
        <author>justin@justinhavre.com (Justin Havre Real Estate Team)</author>
        <title>Tips for Real Estate Investing In Okotoks And Calgary</title>
    <description> <![CDATA[ 


The pandemic has caused so much uncertainty, as well as tremendous turbulence in the real estate sector. Consequently, it has been more challenging than ever to know whether to make a move or sit tight. That said, thanks to interest rates remaining low, first-time buyers and investors are finding that it is the ideal time to make their move to Canada.


Keep reading to learn about some market insights for anyone thinking of investing in Okotoks and Calgary.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


What’s Life Like in Calgary?


Calgary, Alberta, sits about a 3-hour drive north of the U.S. border at Montana and is the fourth-largest city in Canada. The local economy, which revolves around oil and energy, has not proliferated and diversified in recent years.


Calgary offers a desirable balance of culture, sports, and cuisine options and is home to Canada’s Sports Hall of Fame. Since restrictions have lifted further, many professionals are moving to Calgary, some returning from stints in more rural locations to ride out the lockdowns.


What’s Life Like in Okotoks?


Located just 15 minutes drive from the city of Calgary, Okotoks is a thriving community. It is primarily populated by people working in construction, health care, and other professional services.


Okotoks is one of those well-connected places near a major city and has a progressive business-friendly scene, yet manages to maintain an inviting small-town feel.


Real Estate Trends in Calgary &amp; Okotoks


With Calgary witnessing its highest number of monthly sales in over a decade in March 2021, it’s safe to say that the property market in Calgary is currently going strong. Sellers who hesitated through the pandemic lockdowns are now listing, and buyers and investors are making the most of the low-interest rates. Currently, the average property price in Calgary is sitting at $481,000, representing a 3.2 increase year on year. At just 0.4 up on last month, however, there are signs of stabilizing the market and price growths as inventory is recovering and more properties are coming back onto the market.


The Okotoks property market is faring much the same. Current property prices are averaging $482,000, which is 3.4 up year-on-year, yet 3.2 down from last month.


Investing in Calgary Real Estate


Many who fled metro centers searching for more space during the lockdowns are now gradually making their return to the city. As the world opens back up, the attractions and conveniences of city-living are all back on the table and bringing residents back. Despite Calgary’s significant property value growth in recent times, it is still a relatively affordable option city-wise.


A two-bedroom condo in Calgary can currently be snapped up for an average price of $276,000, while the comparable property in Vancouver would be nearer an average of $986,000.


There is also currently room for significant rental income growth in Calgary. The average rent for a one-bedroom Calgary apartment is now $1,150 monthly, whereas a one-bedroom apartment in Vancouver will cost an average of $2,100 in monthly rent.


Investing in Okotoks


The thriving Okotoks economy is drawing workers from all across the city. In 2015, Okotoks was ranked sixth on Canada’s most Entrepreneurial Cities list, further adding to its growth as a hub for ambitious professionals.


Okotoks has also gained a reputation for being mainly focused on its sustainability efforts. The environmentally friendly section of neighbourhood Drake Landing is the first solar community in Canada.


When it comes to investing in Okotoks to rent the property out, properties that accommodate people with busy professional lives and preferences for sustainability are ideal.


Currently, three-bedroom detached homes in Okotoks are averaging at $541,000, while a two-bedroom townhouse is $270,000 and a 2-bedroom condo is $257,000.


Final Thoughts on Real Estate in Calgary and Okotoks


The property markets in both Calgary and Okotoks are currently strong. While both areas, like the rest of the country, are still experiencing strong sellers’ markets, there are some relatively affordable options for investment.


As a city, Calgary represents opportunities for city-living while maintaining room for growth in capital returns and rental incomes. Similarly, Okotoks is still very much an up-and-coming area in terms of development.


Landlords in the province of Alberta also benefit from the increased demand from people moving to the area for work. There’s room for significant movement when moving with upward market trends, as both areas certainly have room to grow when it comes to rental incomes.


Depending on whether you are looking to invest in an exciting metro area or a smaller town with sizable prospects, both Calgary and Okotoks have a great deal to offer. Both represent excellent opportunities for capital and income growth in areas that continue to experience increasing popularity.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


 ]]> </description>
    <pubDate>Tue, 26 Oct 2021 10:18:00 -0600</pubDate>
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    <guid>https://www.okotoks.com/blog/what-to-know-about-new-construction-homes.html</guid>
    <link>https://www.okotoks.com/blog/what-to-know-about-new-construction-homes.html</link>
        <author>justin@justinhavre.com (Justin Havre Real Estate Team)</author>
        <title>Buying a New Construction Home? What You Need to Know First</title>
    <description> <![CDATA[ 


Buying a new construction home is a unique experience. Even if you've bought a pre-built Sandstone home in the past, you may be surprised by the overall process of building a new construction home because it's so different. Before you get started with buying a new construction home, here's what you need to know about the building and overall experience.


Know Your Goals


Before home buyers can get started with the home building process, they must first know their goals for their new home. Usually, this involves sitting down with a spouse or other members of the household to decide what they're looking for in a house. Home buyers should have questions such as:




Will we be having children (or more children) in the years to come?


Do we want to invite a senior relative to live with us someday?


Do we want any future pets?


What kind of hobbies will we be engaging in when we're in this house?


Do we want neighbours who are close, or do we want to live far from the nearest home?


Is it important to live somewhere quiet?


Do we need to live close to services like doctors and schools?




Asking (and answering) these questions are important for helping homeowners decide where they'll want to live, how big the lot should be, how many bedrooms the house should have, and so on.


Pick the Right Location


Location is critically important for a newly built home. Home buyers who are trying to decide where they should build their house should visit a variety of potential lots before picking the one that's right for them. When looking at a lot, the home buyers should assess the view, consider traffic on the road, look at the presence of trees on the lot, and should consider proximity to services and work.


Before buying a lot, it's also important to get an inspection of the land. Land inspectors consider factors like the quality of the soil, air, and ground water on the property. If there's something wrong with the land, the inspection will help the home buyer decide whether the problem needs to be remediated, or maybe if the property should not be bought at all.


Choose the Right Builder


The most important thing home buyers can do when trying to buy a new construction home is to choose a builder who is right for them. When vetting contractors, home buyers should consider the following:




Years of experience


Style and portfolio


Proposed price


Licensure




Home buyers should meet with each potential contractor and ask them questions about the home buying process. In addition, it's important to check references. Checking references helps homeowners determine which contractors have a history of working well with their clients and are likely to produce good quality work.


Work with a Real Estate Professional


Working with a real estate professional can help home buyers decide which home location is right for them. A good real estate professional can help the home buyer negotiate the price of the land, and can also help the home buyer through the step-by-step process of buying land. From the vetting of the different properties to the purchase of the property, a good real estate professional can make the task of purchasing land easier.


 ]]> </description>
    <pubDate>Thu, 19 Mar 2020 09:14:00 -0600</pubDate>
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    <guid>https://www.okotoks.com/blog/how-to-buy-a-vacation-home.html</guid>
    <link>https://www.okotoks.com/blog/how-to-buy-a-vacation-home.html</link>
        <author>justin@justinhavre.com (Justin Havre Real Estate Team)</author>
        <title>Buying a Second Home: What to Know About Taxes and Mortgage</title>
    <description> <![CDATA[ 


Buying a vacation home can be very different from buying a primary residence. Most important to understand is that obtaining a mortgage for a vacation home can be more difficult than obtaining a mortgage for a primary residence. In addition, homeowners who sell their vacation home must pay capital gains taxes. Here's what you need to know about vacation home mortgages and taxes.


For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.


Everything to Know About Vacation Home Taxes


Vacation homes affect a homeowner's taxes when they try to sell their property. When a vacation home is sold, the profits made on the sale of the home are called capital gains. Capital gains are taxed. How do you determine the capital gains you can expect to be taxed on when your vacation property sells? Generally speaking, you should be taxed on the difference between the amount you receive from the sale of the house and the adjusted cost base (also known as the &quot;tax cost&quot;) of the home.


Want to control the cost of taxes when selling your vacation home? Keep receipts relating to the improvements or additions you make to the vacation property. Everything you spend on the property to improve it can be deducted from the amount you receive from the sale of the house. This reduces your tax liability.


Work with an accountant or a tax professional when you sell your home to ensure that the cost of taxes is as low as possible. If you're thinking about selling your vacation property, talk to a professional before selling. This will help ensure that you have all the paperwork you need and have taken all the steps necessary to control your costs.


Everything to Know About Your Vacation Property Mortgage


Buying a vacation home can be complicated compared to the process for buying a primary residence. Knowing the details can help the home buyer get started with the home purchasing process.


One of the things that affects the process of getting a mortgage is where the home is located. If the home is located in Canada, then most home buyers can borrow from a private mortgage insurance company. However, sometimes vacation homes are located in remote parts of Canada that are difficult to access. This can affect the marketability of the home, which in turn can make it difficult to sell. Because the location can affect the value and marketability of the home, lenders may not loan as much for the home as they would for a comparable property in an easy-to-access location.


In addition, a vacation home that's in a foreign country can also be difficult to purchase, because lenders in Canada will not loan money for vacation homes in foreign countries. A borrower who would like a mortgage for a home in a foreign country may need to work with banks that have branches in that foreign country and in Canada.


Contact a Real Estate Professional


If you're buying a vacation home, it's important to understand the financial implications of purchasing a second home. It's also important to work with a real estate professional. Your real estate agent can help you negotiate a lower price for your home, which can help make purchasing a vacation home more affordable.


For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.


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    <pubDate>Thu, 05 Mar 2020 09:08:00 -0700</pubDate>
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    <guid>https://www.okotoks.com/blog/kitchen-renovations-ideas.html</guid>
    <link>https://www.okotoks.com/blog/kitchen-renovations-ideas.html</link>
        <author>justin@justinhavre.com (Justin Havre Real Estate Team)</author>
        <title>Best Kitchen Renovations For Selling</title>
    <description> <![CDATA[ 


Before selling their home, a lot of homeowners will look for home improvement projects to complete. When done correctly, projects like these can  be a selling point and even potentially cause an increase in price if the right buyer comes along. Many homeowners tend to focus on the kitchen due to how much potential there is for improvement and how popular kitchen renovations are. Here are some of the different types of kitchen renovations that Rosemont homeowners may want to consider before selling.


New Countertops


Countertops are one of the most popular kitchen renovations due to how visible the countertops are in the room. Buyers love seeing new countertops, and there is a wide variety of different materials a homeowner can choose fro:




Granite


Marble


Wood


Concrete


Quartz


Tile




Countertops like granite, marble, and quartz are some of the most popular. This is because they’re all hard and durable types of stone that will hold up to wear and tear over the years. These sorts of countertops can easily last decades if properly maintained, making them a great investment.


New or Refinished Cabinets


Kitchen cabinets are another popular project due to how much space they take up and how visible they are. Completely replacing cabinets can be a very expensive investment, and many homeowners are unable to afford such a high price. For homeowners who want the look of brand new cabinets but can’t afford the price tag, refinishing can be a much more affordable option that leaves the cabinets looking fresh and new. Homeowners can sand down their current cabinets and re-stain them in a new color. Or, if they want something striking, they can paint over the cabinets. Upgrading the knobs and other hardware can also be a good way to make cabinets look new.


New Flooring


Kitchen floors have to endure a lot of battering during their lifetimes. Another good kitchen upgrade can be installing new, durable floors. Like countertops, there are many great materials homeowners can pick from, including:




Hardwood 


Concrete


Stone


Vinyl


Tile


Linoleum




Many kitchen flooring materials can even be refinished to make them look new again. Many species of wood can be refinished up to six times before needing to be replaced, and refinishing can be a much more affordable option than outright replacing.


New Backsplash


One style that home buyers love is a sleek or colorful backsplash on the walls of the kitchen. Many homeowners love to install backsplashes because it’s a project they don’t need to hire a contractor for unless they want to, making it a favorite among DIY fans. Backsplashes can be made out of many materials such as glass, stone, porcelain, and more. Homeowners can choose pre-made backsplashes made from a variety of different colors and textures that help create visual interest in the kitchen. Or, if they’re really crafty, they can make their own custom backsplash from scratch so it perfectly encapsulates the look of their kitchen.


These are just some of the different kitchen upgrade projects homeowners can choose from. However, there are many more such as replacing the sink, getting new appliances, and so on. With kitchen renovations, it’s important for the homeowner to understand their budget completely to help prevent accidentally spending more than what’s available. It’s also important to note that homeowners don’t have to do every renovation. Just completing one or two projects yourself or with a contractor can be just what a kitchen needs to look new again.


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    <pubDate>Thu, 20 Feb 2020 07:42:00 -0700</pubDate>
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    <guid>https://www.okotoks.com/blog/should-you-sell-your-home-as-fsbo.html</guid>
    <link>https://www.okotoks.com/blog/should-you-sell-your-home-as-fsbo.html</link>
        <author>justin@justinhavre.com (Justin Havre Real Estate Team)</author>
        <title>Why You Shouldn’t Sell Your Home On Your Own</title>
    <description> <![CDATA[ 


When choosing to sell a home, the homeowner has to consider how they are going to do it. There are two options: the first is hiring a real estate agent, and the second is going For Sale By Owner (FSBO). Going FSBO may seem like it’s a better choice because it puts the seller in charge of every aspect of the sale instead of going through someone else, but it’s actually a bad idea. Here is what all sellers need to know about FSBO and why they need to hire a real estate agent.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


No Professional Help


When a Mountainview homeowner opts to sell a home on their own, they’re committing to doing every part of the selling process on their own. The homeowner needs to navigate negotiations, closing, documentation, and everything else that goes into selling a home on their own. To understand how much work this is, it typically takes up to two years to become a licensed agent, and it takes years for an agent to truly master their job. Selling a home isn’t something a homeowner can just look up on Google and follow tutorials for. If a seller insists on doing everything on their own, they need to understand that they are going to be prone to mistakes that fully trained real estates know how to avoid.


Selling Can Be Confusing


The reason may people want to go FSBO is because they think selling a home is like selling anything else. However, this is not the case at all. It can take years for a real estate agent to master the art of selling homes. When a homeowner tries to sell their own home, they’re going into a very long and confusing process with zero preparation. Any mistakes the seller makes during this process will cost time and slow everything down drastically. If a seller wants to get the most out of the selling experience and make sure it’s done quickly, efficiently, and correctly, they need to hire a real estate agent.


Sellers Have Limited Exposure


When selling a home, the seller needs to make sure as many people can see it as possible. The wider the net they cast, the higher the chances of finding a buyer. However, when a seller chooses to go FSBO, they significantly reduce the amount of exposure their home will get. The homeowner will only be able to put the listing for their home on websites that anyone can access. Sellers who hire a real estate agent have access to their agent’s agency’s website for advertisement, and many other things such as Multiple Listing Service (MLS). Going FSBO means the seller will need to do everything they can and work as hard as they can to get their home’s listing in front of buyers.


Sellers Don’t Know the Market


One of the biggest disadvantages a FSBO seller has to face is that they just don’t know the housing market like an agent does. Agents are able to look at the market and decide if it’s a good time to sell a home, if that type of home is popular, how long it may take to sell a home, and so on. FSBO sellers can try to do the same, but they don’t have the background knowledge that agents have, and this will work against them.


All homeowners who want to sell their home should hire a real estate agent. Agents are an invaluable asset, and no seller should go without one. If a seller goes FSBO, they risk sabotaging themselves.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


 ]]> </description>
    <pubDate>Thu, 06 Feb 2020 06:48:00 -0700</pubDate>
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    <guid>https://www.okotoks.com/blog/real-estate-investment-types.html</guid>
    <link>https://www.okotoks.com/blog/real-estate-investment-types.html</link>
        <author>justin@justinhavre.com (Justin Havre Real Estate Team)</author>
        <title>Choosing the Right Type of Investment Property</title>
    <description> <![CDATA[ 


Real estate is one of the most popular types of investments for those who wish to look beyond traditional stocks and bonds. When getting started in real estate investing, the first step should be researching the options and choosing which is the best fit. There are four broad types of real estate investments, with a few subcategories in each. Each type has pros and cons, along with unique cash-flow cycles, lending conventions and sets of rules and regulations, which means that different ones will be better fits for different investors. The four basic types include:


Residential Properties


Residential real estate includes everything from single-family homes to condos and townhouses to large multifamily properties like apartment complexes. There are a couple of different paths for those who wish to make money investing in residential properties.


Some people seek a quick, lump sum profit from buying houses, refurbishing them, and then reselling. With the right property purchased at the right price in a booming market, this can be a way to realize a profit on an investment quickly. However, buyers should be aware of potential pitfalls that can include excessive repair costs on a home. It is also imperative to understand property-value trends in an area and what qualities can allow for a quick sale.


In other cases, investors can see recurring profits when they purchase properties and offer them for rent. This path requires an understanding of local and state tenant law, as well as the ability and budget to maintain the property. Potential risks can include empty units, nonpaying tenants and tenants who cause damage to properties. Those interested in this path should explore the potential risks and rewards to see if residential renting is a good fit for them.


Commercial Property


Commercial real estate can range from strip malls to office parks to skyscrapers. In general, these properties are rented to businesses who wish to operate out of the property. Some commercial property houses retail businesses, where members of the public visit to purchase goods or services. In others, businesses cater to other businesses and have few in-person visitors to rent out the property. A property's zoning will determine what uses are allowed. Different uses will come with different requirements, such as minimum parking requirements.


Commercial real estate investing can have some advantages over residential property investing. For instance, tenants are often responsible for maintenance of a property, which can make overhead more predictable. Commercial leases are often measured in years, which makes them a more stable investment. However, commercial real estate investing often involves larger amounts of capital up front.


Industrial Property


Industrial real estate is technically under the umbrella of commercial, but has enough unique quirks to merit a separate listing. Industrial properties tend to be larger. They can involve anything from manufacturing and processing plants to warehouses and distribution centers. Industrial tenants often have needs that are specific to their particular business, so properties will often have to be adapted to those needs. There will also be environmental and zoning regulations that must be observed. However, these tenants tend to have low turnover, which can make this sort of real estate investing more stable over time.


Land


Every type of real estate is dependent on the land beneath it. Land can often be the least expensive type of real estate to buy, which can be appealing to some investors. However, land may require a great deal of investment after the initial purchase in order to turn a profit.


Investors can buy land and make improvements that are as minimal as clearing brush and defining road access. Or, they can begin with raw land that is improved with the addition of buildings that can include houses, condos or retail spaces. An area's zoning will determine what sorts of uses are allowed.


When buying land, be sure to observe what services are available in the area and what would need to be added. For instance, a property that is already on an electrical grid will cost less to improve than one that needs to have electricity run through the neighborhood. Often, improvements like running initial sewer and power lines are the responsibility of the owner, rather than the local government. As a result, this can add significant costs. However, a savvy land purchase in an area that is ripe for development can bring significant returns.


The key when exploring Drake Landing real estate investments is to fully understand the potential costs and the potential profits possible. With a clear understanding of the risks and rewards, investors can make the right choices for their circumstances and ambitions.


 ]]> </description>
    <pubDate>Thu, 23 Jan 2020 07:58:00 -0700</pubDate>
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    <guid>https://www.okotoks.com/blog/home-siding-types.html</guid>
    <link>https://www.okotoks.com/blog/home-siding-types.html</link>
        <author>justin@justinhavre.com (Justin Havre Real Estate Team)</author>
        <title>Choosing a Type of Home Siding? What You Need to Know</title>
    <description> <![CDATA[ 


If you're thinking about building a Downtown Okotoks home or installing new siding on your home, there are many things you need to consider. Knowing your options, the type of siding that's available, and the pros and cons of all the different kinds can help you choose the right kind of siding for you.


What to Consider When Choosing a Home Siding


When you're trying to choose a home siding for your property, there are many factors to consider.


Maintenance


Some sidings, like wood, need to be repainted or resealed periodically. Other types of siding (like vinyl) only need to be cleaned to maintain their beauty. If you're not willing or able to repaint your siding occasionally, a low-maintenance siding type is better for you.


Cost


Low-cost sidings, like vinyl, are very popular. If you're not sure what kind of siding fits in your budget, get prices for several kinds, then decide what you're willing to spend. Remember the lowest-cost sidings are not always the best. Value is just as important as the cost, if you're planning to sell your home sometime soon.


Longevity and Durability


Some types of siding will last for decades (for example, brick or stone veneer). Other types of siding, like vinyl, may not last as long. Some contractors estimate that vinyl siding will last between 20 and 40 years; others say there's no way to know how long it will last. One thing is for sure: quality and longevity are often related. High-quality siding last longer than low-quality siding. Work with your contractor to pick the best quality and type for you.


Historical or Architectural Significance


Homeowners with an architecturally unique or historic home should always consider these factors when trying to decide what kind of siding to install. For example, vinyl siding installed on a historic Victorian home could ruin some of its value.


Value


Some types of siding are more valuable than others and will lead to a higher sale price. Cedar shake siding, for example, adds a unique quality to a home that may attract the attention of high-end buyers. On the right home, this type of siding may add more value than a vinyl siding exterior.


Eco-Friendly


Homeowners who prioritize the environment may wish to seek out the most environmentally friendly siding they can. Biodegradable siding types, like wood, and long-lasting siding types, like brick, are both considered environmentally friendly.


Most Common Types of Siding


The most common types of siding include:


Wood


Wood siding requires more maintenance, but it's a very traditional type of siding found on homes around the country. Wood needs to be painted every five or so years, which means most homeowners with wood siding are presented with the opportunity to change their home's color and boost their home's curb appeal on a regular basis.


Vinyl


Vinyl is popular because it's so inexpensive and easy to maintain. However, the color of vinyl cannot be changed, and sometimes vinyl can be damaged by high temperatures like heat from a grill. 


Brick Veneer


Brick veneer is attractive and low maintenance. It never needs to be repainted or sealed. However, brick also never changes appearance, so homeowners who want brick should be sure they like the appearance of it before installing it in their home.


Which Siding is Best For You?


When you're trying to decide which type of siding is right for you, get several bids from licensed contractors before making your decision. This will help you decide which type of siding is best for your home.


 ]]> </description>
    <pubDate>Fri, 10 Jan 2020 09:07:00 -0700</pubDate>
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