What’s the big deal with Thanksgiving

Well happy thanksgiving everyone! Most of my posts have something to do with Real Estate or things pertaining to Muskoka or Gravenhurst. I really do feel blessed living and working in Muskoka.  I am thankful for my clients and seeing them happy when they either sell their property or acquire a new home. So whats the big deal with thanksgiving? How did it start? How do most folks celebrate it in 2012? And how about those childhood memories? 

I remember my first experiences with Thanksgiving weekends, fond memories having dinner at my Grandma & Grandpa Pilger’ up the road. They would always put on a great feast.  My dad and brother would contribute by supplying a few partridge (Grouse) and Grandma would work her magic on producing the best gravy. We usually had turkey As well. Mom would often augment the meal with her own specialties…….. One of my favorites….. Pumpkin pie. 

Through the years things changed a bit but it was always a time for family and friends. It’s always a special time of the year, with fall colours, good food & good company. So I hope all of you enjoy your own memories and create new ones at this very special time of the year. 

Here is a little tidbit in the Toronto Sun regarding Canadian vs. American Thanksgiving……..  Canadian vs.American Thanksgiving 

Have a great one!

 

 

Must Knows for Successful Cottage Buying

So you want to buy a cottage or recreational property. There’s more to it than just touring around, looking at listings if you’re going to find the right property, at the right price, and in the right location, with the amenities that best suit your lifestyle. Plus, you want to do all this in a reasonable amount of time!

The best way to reach your goals? Work with a realtor who understands the market, has deep knowledge about the municipality, and can address the unique challenges of acquiring waterfront properties.  Most importantly, your realtor must recognize and work to understand your needs and wants, and make sure you and your family are well prepared for all that cottage ownership entails.

Making sure you have all that you need includes being able to recommend local lawyers. If you use a lawyer who isn’t from the area, they may not be familiar with regional issues and regulations. It is also advisable to use a mortgage broker from the area. And get pre qualified so you know a realistic price range in advance. These mortgage specialists are available evenings, weekends and week days.

Buying a Cottage Checklist

There are lots of things to think about when acquiring cottage property, and I’ve outlined some of your most important considerations below.

• Distance From your permanent homes. Set your limit, but remember that an extra 30 minutes away could mean a better price. Making a small concession on travel time could mean you’ll get what you’re looking for within your budget.
• Size of Lake: Lake size often dictates the kinds of activities you can take part in there. A small lake means there will be less boating and fewer large motorized boats and it will be a lot quieter. Medium lakes tend to be fishing lakes, often with organized lake activities put on by the lake association. Larger lakes are often deeper and the size allows you to travel a lot further in a day. They also tend to be a bit more expensive.
• Shoreline Type: What kind of shoreline do you want or need to have? Do you want a sandy beach without a steep drop off, or some rock with a few weeds that could be a great fishing spot?  Maybe you’d like to be able to jump off a rock or dive into deep water from the dock!
• Exposure or View:  Choose west for sunsets or east for sunrises. An elevated setting usually means a better view, but the downside could mean stairs down to the water (the young people don’t mind a bit of a climb, but we all grow older!).  And are you content with a small bay, or do you want to look a distance across the lake?
• Privacy:  how private do you need your property to be? How close do you want your neighbours? Will a tree line buffer suffice?  Do you want to be on a busy lake with lots of activities, or a quiet one with a limited number of cottages on it?
• Ease of Access: Some cottages are water access only and are generally less expensive; but then, you’ll have the added cost of marina expenses and it can be less convenient to bring guests over. If you want to use your cottage year-round, you should try to buy one either on a year round municipal road or a year round private road. If the road is not maintained, you could end up having to use a 4X4 or snowmobile to get there at certain times of the year.
• Three or Four Season Cottage: Many of the older cottages were never designed to be used in the winter, but many folks, after spending a few hundred thousand dollars, want that option. Some have already been converted but lots are still three season only.
• Shore road allowance (SRA): Find out if the seller owns the waterfront or SRA. Many lakes in Muskoka had SRA (It’s usually a 66-foot strip of land above the high-water mark) at one time owned by the local municipality.  Many cottage owners have purchased that SRA over the years but some are still open. This becomes extremely important if there are docks or structures on it and or you wish to expand or build. Rules and costs for acquisition vary from one municipality to another, and can take a bit of time to sort out.
• Environment: Be mindful of what is or could be near any prospective cottage. Are you down in a hollow and have no access to Internet or wireless communications? Is the old beaver pond right behind the cottage one that overflows in the spring? Another example could be that there is a hydro high voltage transmission line nearby.
• Grass or not much grass.  Some people when they head to the cottage want a more traditional cottage with very little grass. Others don’t mind spending a little time mowing and tending gardens.
• Square footage and layout. Space and layout can be rather important depending on the size of your family and  of friends that you may wish to entertain. Also, do you want something you can enjoy right away or are you happy to do a little renovating?
• Zoning: It is imperative that you fully understand the municipal zoning associated with your proposed purchase. This will include permitted uses, accessory buildings, minimum setbacks (Front, Side, and Rear), Maximum lot coverage and building height. It may be OK as is but any future development requiring a building permit could initiate a surprise if you don’t do your due diligence.
• Systems: How old is the septic system?  How do you get water at the cottage (drilled well, dug well, from the lake)? Is there a woodstove that will need a WETT inspection? These are things that a qualified home inspector can answer for you.

When you find that one that fits…

Perhaps you’ve already narrowed down some interesting listings and you are going to do a tour and see if you like them. One of the first things you will want to do is have a look at the view. Can you picture yourself there sipping your morning coffee and looking out over the lake? Now, go down to the water to have a look, or even step in. What’s the shoreline like? Is it rocky, sandy, hard packed clay, or silty? Will this property suit your needs now and in the future? How is the cottage situated relative to the shoreline? Is it easy enough for you and guests to get back and forth? Where is the sun? Where will it be in the morning, at midday or in the evening?  

If it all feels right, and your realtor has shown you all properties that really meet your requirements, then you will have found a cottage in which to create lasting memories with your family and friends. Congratulations!

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Patchwork Boathouse Rules!

Well we got what we asked for I think! Hot sunny weather! Time to build that boathouse right! Or you are looking to buy a cottage or sell one and you want to know the rules around building on or near it should be simple. If you are in Muskoka one would think the rules should be fairly constant but not so. I came across this article in WHAT’S UP MUSKOKA ……Muskoka employs patchwork rules…   http://goo.gl/jz5TS.

 I was actively involved as a municipal councillor with the Town of Gravenhurst and District of Muskoka, for many Years and as such have a good working knowledge of the area as well as local municipal Planning policies, zoning by-laws and, minor variance practices. Even with my background the rules are hard to keep up with. We have six municipalities plus the upper tier (The District) there are seven official plans and six different zoning bylaws. If you are building on or near the shoreline, you absolutely have to do your due diligence and consult with your local planning and building departments. That’s the one with their name on your tax bill.

I’m always looking for comment or feedback so if the urge should strike you, Drop me a line.

It’s always a great day in Muskoka!

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Is YOUR Mortgage Flexible?

Whether you're buying a new or second home, cottage, renewing, or refinancing, you should make sure that you consider your alternatives in order to keep you in control during every life stage and situation. This article by Darlene Hinton of Mortgage Alliance is timely as many are considering their options.

We’ve been seeing some pretty amazing rates out there in the past few months. Who would’ve thought there would be a time when mortgage rates dropped below prime rate for a 5 year term?! While that is fantastic news for many, for others it could be the case of, “If it sounds too good to be true, it probably is. . . “  Why? Lack of flexibility.

Unless you have a cash reserve, investments, or some kind of monetary back-up, you could find yourself in a serious situation, really fast. The ultra low rate mortgage offerings out there are usually extremely limiting. In the mortgage industry, we call these “no frills” mortgages because you get what you pay for.  . . a low rate and not much else.

To clarify that, let’s look at what it doesn’t give you. It will not allow you to break your 5 year term unless you die or sell your home. You are with that bank come heck or high water. Why is that important anyway, you may ask? Well, did you know that more than half of Canadians break their mortgage at the 3 yr. mark? The reasons are usually everyday events that affect us all, at one point or another. Some of those could be: unexpected illness, injury or accident, loss of employment, unexpected relocation, or an unexpected large expense (such as a roof or renovation).

Unless you have relatively large amounts of money stashed away, you may be stuck in the event of any of the above occurring. The average mortgage holder has the luxury of tapping into their home equity if needed, whether that is through their existing bank or refinancing with another Lender that has the best rate.  While its true most have to pay a penalty to break the old mortgage; if the terms of the new mortgage are good enough, it will pay for itself with the benefits it offers. Most No Frills mortgages however, have no option to break the mortgage... period. (besides death or sale of house)

Another area one might be affected with the “No Frills” mortgage is if you decide to move. While you may be able to port a No Frills mortgage, you are generally at the mercy of the Lender in regards to what rate you will get if you are increasing the principal amount at all.  You’ll notice I have repeated a few points. That’s because they are very common and really need to be given thoughtful consideration before you make a decision.The best way I can put this in perspective for you is give you a literal cost comparison. Let’s use a 5 yr. term mortgage of $100,000.00, amortized over 25 yrs. to illustrate.

Interest Rate    Monthly Paym’t     Total Interest over 5 Yrs.   Final Balance at End of 5 Yrs.   

2.99                    $ 472.73               $13,822.13                           $85,458.33

3.19                    $ 483.05               $14,215.81                           $85,794.19

Difference?!        $   10.32              $    393.68                             $    325.86         

As you can see, there’s not a whole lot of savings for what you may be giving up in flexibility.This is the guidance and information you will get from your mortgage broker and it’s free. I hope I have helped clarify a few points for you today.   

Information courtesy of Darlene Hinton -  Mortgage Agent - Mortgage Alliance dhinton@mortgagealliance.com

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Real Estate Market In Muskoka

When selling both residential homes and cottages in Muskoka, people often ask us about the Real Estate market: What are waterfront properties prices doing? How strong is the housing market in Gravenhurst? Well sometimes we have to look at the big picture.  Statistics  for the first  Quarter Home sales  for  the area served by the Muskoka & Haliburton Association of REALTORS®  are  above year-ago  for a third consecutive quarter in the first quarter of 2012! http://creastats.crea.ca/musk/mls_stats.htm  Home sales numbered 247 units in the first quarter of 2012, up five per cent from one year earlier. Apart from commercial properties, there are two main markets residential and recreational properties.  Sales in both markets were up from year-ago. Residential sales increased by 7 percent, while recreational cottage sales were up 14 percent. There seems to be a flurry of movement now on the residential front. It should be interesting to see the stats at the end of May. There are new listings of homes coming on the market as well as an increase in buying activity.

Regarding Cottage  properties , entry level is  begin around  $300K  on smaller lakes or rivers and go up to multiple millions on the  big  lakes  in Muskoka . While Waterfront unit sales are up in most areas of Muskoka, it’s still early, however I anticipate this trend to continue.  With continued low interest rate and some steady growth in the economy without a world economic crisis, home ownership should remain a good investment!

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Enjoy your outside living space!

Another great weekend in Muskoka! Between showing cottages and homes, I started watching this show on TV called DECKED OUT. http://www.hgtv.ca/deckedout/ This is sort of nice because it covers a lot of elaborate designs and nifty ideas, including hardscaping and landscaping. The addition of an outdoor kitchen and or an improved living are can also increase the value of your home or cottage.

I have watched many of the shows from time to time on renovating, flip this house etc. but this kind of caught my eye because hey, it’s the May 24 weekend and people are either enjoying their decks and patios or they are thinking of upgrading or improving. So I thought about my cottage friends and thought I would write a few words about the subject.

You can build your own deck if you enjoy that type of thing or come up with a concept and ask for quotes from a couple of reliable contractors. There is a wealth of information on the internet even design programs. Often your local building centre will be able to assist you as well with their qualified staff. They can also help you with a budget.

If you are building your own You must have a design plan that meets building code requirements in your area and be inspected to make sure it has been built to that code. You should always check with your local municipally before you get stated as to what you are allowed to do. Firstly you will require a building permit as well you don’t want to spend a lot of time planning and designing only to find you can meet the setback requirements from your lot line or in the case of waterfront properties there may be a lot coverage factor that you have to adhere to.

It’s always great to dream and plan even if it’s a year off, so get out there and enjoy the weekend. Look around for the potential. I’m heading back outside!

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Stop Traffic

Listings in your Area may already be budding like spring flowers. If you’ll be selling too, consider curb-appeal boosting home – improvement projects that’ll help stop buyers in their tracks!

Ø  New garage doors. Certain garage doors constitute a large portion of a house’s façade and so the doors are one of the firsts things buyers notice. Whatever style you choose, make sure the doors complement the architecture of your house – Carriage-house style doors have become quite trendy, though they might look out of place on more modern homes.                     

Ø  A driveway makeover. Like your garage doors, your driveway is often one of the first things that catch buyer’s eyes. Whether you simply reseal your asphalt or opt for a different paving material altogether - Brick, cobblestone, flagstone, gravel or paving stones – a new driveway can make a huge impact

Ø  A new Walkway. Your walkway leads buyer’s feet – and eyes right up to your door! If your current walkway is straight consider replacing it with one that is curved, for a more aesthetic appeal, and think about replacing the concrete with brick, stone or slate. To finish incorporate plantings and solar powered walkway light.

Ø  Landscaping. Buyers make assumptions about the state of your home or cottage based on the state of you landscaping. So, if the landscaping looks like it has been neglected, or it just lacks that ‘wow” factor, consider hiring a landscape designer. A landscaper can plan a design that turns heads, and he or she can implement it for you too – or you can do some or all of the work yourself, saving you a few dollars.

 

Remember you only have one chance to make a first impression!