Iwona Leja, Realtor
30 Eglington Avenue West L5R 3E7 Mississauga, ON, Canada

Home may be where the heart is, but it's also where you and your family need to comfortably fit. If you're trying to decide between a single-family home and a condo for your next move, you'll want to weigh the various configurations. Houses come in a myriad of formations, from single-story bungalows to multi-floor mansions. A detached house is a complete unit on its own where you own both the building and the land it's on. A semi-detached house shares a w...all with another house, but is otherwise its own complete unit. Townhouses also fall into the single-family home category, and while they can have the space and indoor layout of a detached or semi-detached house, they're attached either on the sides or vertically with the other townhouses in the complex. There are two types of townhouses freeholds, where the owner owns both the house and the land it's built on, and condominium townhouses, where the owners own a percentage of the condo corporation versus any actual land. Similar to an apartment condominium, condo townhouse owners pay a monthly maintenance fee to cover water, sewage, garbage and shared amenity expenses. A condominium can refer to one unit within one building, or a series of buildings on a piece of land. It is governed by an elected body that makes decisions pertaining to building regulations, maintenance and concerns that affect unit owners and residents. The difference between an apartment and a condo unit is that with apartments, each unit in the building is owned by one entity and then rented out to tenants. With a condo, an individual owns their particular unit, which can then be either occupied by the owner or in some cases, rented out. Let's sit down and review your current needs, wants and budget, as well as your future lifestyle requirements in order to find the type of housing that provides just the right fit.

Wondering if you and your home simply aren't right for each other anymore? Let us count the ways that could indicate it's time to move on: 1. Your home doesn't fit your family anymore. Your growing family may have outgrown the space, or conversely empty nesters may find themselves resenting the cost and labour of maintaining space they simply don't need anymore. 2. The neighbourhood has changed. Or perhaps it's you that's changed. For example, maybe you welcomed the influx of... new businesses to the area a few years ago. Now, you find yourself annoyed by the increased noise and traffic they've brought in, and you yearn for a quieter lifestyle. 3. Your schools aren't A+. While you may not have had children when you first moved in, their subsequent arrival could now be spurring your desire to seek out a better school district. 4. You're feeling removed. You may have originally chosen your home for the actual property itself, but now it's sunk in how far it is from friends, family, work and other important support systems. 5. It hasn't aged well. Your home may be needing repairs and replacements faster than you can keep up. At this point you will need to weigh the costs, financially and also in stress and time, between fixing your home versus moving to a move-in-ready property. 6. Your financial situation has changed. You may find yourself newly single, or dealing with your or your partner's job loss. Moving to a more affordable home can ease your financial stress. 7. You're just ... over it. Sometimes you just want a change, plain and simple. You want to see what's on the market, and ideally connect with one that ignites a spark in you. Let's talk about what your ideal home would look like. We'll work together to make sure you make the right move, for the right reasons!

Despite an unprecedented year due to COVID-19, including necessary public health restrictions and uncertainty surrounding the economy, Greater Toronto Area REALTORS reported over 95,000 home sales in 2020 the third-best result on record. The average selling price reached a new record of almost $930,000. The Greater Toronto Area housing market followed an unfamiliar path in 2020. Following the steep... COVID-induced drop-off in demand during the spring, home sales roared back to record levels throughout the summer and fall. A strong economic rebound in many sectors of the economy, ultra-low borrowing costs and the enhanced use of technology for virtual open houses and showings fuelled and sustained the housing market recovery, said Lisa Patel, Toronto Regional Real Estate Board (TRREB) President. Highlights from 2020 include: 95,151 sales were reported through TRREB’s MLS System up by 8.4 per cent compared to 2019. This included a record result for the month of December, with 7,180 sales a year-over-year increase of 64.5 per cent. Year-over-year sales growth was strongest in the GTA regions surrounding Toronto, particularly for single-family home types. The average selling price reached a new record of $929,699 up by 13.5 per cent compared to 2019. This included an average price of $932,222 in December a year-over-year increase of 11.2 per cent. The strongest average price growth was experienced for single-family home types in the suburban regions of the GTA. After a pronounced dip in market activity between mid-March and the end of May, market conditions improved dramatically in the second half of the year, with multiple consecutive months of record sales and average selling prices. While the housing market as a whole recovered strongly in 2020, there was a dichotomy between the single-family market segments and the condominium apartment segment. The supply of single family homes remained constrained resulting in strong competition between buyers and double-digit price increases. In contrast, growth in condo listings far-outstripped growth in sales. Increased choice for condo buyers ultimately led to more bargaining power and a year-over-year dip in average condo selling prices during the last few months of the year, said Jason Mercer, TRREB Chief Market Analyst. The next 12 months will be critical as we chart our path through recovery. In particular, the impact of resumption in immigration and the re-opening of the economy will be key. TRREB will once again be releasing its January results, Market Year in Review and 2021 Outlook report on February 8th. This will include a forecast for home sales and selling prices, the latest Ipsos consumer polling on the GTA housing market and new research related to innovative ways to bring on more housing supply, said John DiMichele, TRREB CEO.

Single-family homes, particularly in the 905 areas around Toronto, continued to drive the housing market in November, injecting competition into even the most affordable parts of the region. In Durham Region, traditionally among the most affordable parts of the Greater Toronto Area, the average price of a single-family home was up 20 per cent compared to the same month last year, said the Toronto Regional Real Estate Board (TRREB) on Thursday. Detached house prices, which ros...e 15.2 per cent to an average of $1.2 million in the GTA, saw a 19.2 per cent gain in the 905 communities surrounding the city and an 8.7 per cent increase in the city of Toronto to an average of $1.48 million. Sales of detached houses jumped 30 per cent across the GTA: 33.6 per cent in the 905 areas and 19.3 per cent in the city. Across the GTA, the aggregate average selling price for detached, semi-detached, town homes and condos climbed 13.3 per cent year over year to $955,615 last month, a $110,000 annual increase. Home sales jumped 24.3 per cent annually across the region with 8,766 transactions last month. As lockdown-weary consumers went searching for space, the real estate board noted that low interest rates likely helped make single-family homes more affordable. Competition between buyers for ground-oriented homes has been extremely strong in many neighborhoods throughout the GTA, which has continued to support double-digit annual rates of price growth, said TRREB president Lisa Patel. On the flip side, condo sales lagged, showing only a 7.1 per cent annual increase, most of it in the 905 where sales increased 23.3 per cent, compared to a 0.8 per cent gain in the city of Toronto. The 905 condo market also outperformed Toronto’s in price, rising 4.8 per cent to an average $533,984, compared to a three per cent drop in the city to $640,208. Real estate experts say that decline is steeper in the city core. For the second consecutive month, the number of new condo listings was about double last year’s levels. But the situation is likely temporary, said the real estate board’s chief market analyst, Jason Mercer. Once we move into the post-COVID period, we will start to see a resumption of population growth, both from immigration and a return of non-permanent residents. This will lead to an increase in demand for condominium apartments in the ownership and rental markets, he said in a news release.

When you shop for a new home, you’ll probably start by thinking about what you need in your next property. Your list might include a spacious kitchen; three bedrooms; and, a mature tree in the backyard. Those are property features and, of course, they’re important. But finding your next dream home involves more than just property features. It also involves getting what you want from the surrounding area. After all, a home isn’t going to be enjoyable if commuting to work from ...your neighborhood is long and agonizing. So when you shop for a new home, also think about: Work. How will you get to work? Is public transit nearby? School. Where will your kids go to school? Is transit or bus service available? Will your kids be able to walk to school? Kids. Where will your kids play and hang out? Are there nearby playgrounds and parks? Neighbors. Do the local homeowners seem like the kind of people you’d like as neighbors? Shopping. Where will you do your weekly shopping? Hobbies. How far will you be from golf, theater, or other hobbies? Need help in finding your perfect ? Contact me today

5 The kids may have flown the nest, your lifestyle may have changed, your knees may be protesting too many stairs or perhaps you've simply had enough of the work that a larger property can bring, and have decided it's time to simplify your life by downsizing. Whatever the reason, it's a big job to pare down. Take a deep breath, and consider these downsizing tips. 1. Start early! It took time to fill up your home, and it'll take time to empty it. You don't ...want to rush the process and end up getting overwhelmed. Start in an area of little emotional attachment, like the laundry room. 2. Take stock of what you have. Taking an inventory allows you to prioritize what is most valuable to you, and not only in a financial sense. If you use it, need it or just really like it, it can qualify as a "keeper." 3. Purge, purge, purge! The first things to sell, toss, gift or donate should be things you simply won't need in your new place lawn care equipment in a condo, for example. Second would be things you haven't used in the past six months (seasonal stuff excluded), duplicates of things, and of course all the old paperwork that has accumulated over the years, especially if it can be accessed online. 4. Measure, measure, measure! Measure every corner of your downsized space and also any hallways, stairwells and other routes your furniture would need to travel through and if it simply won't fit, your decision is made for you. 5. Choose multi purpose with purpose. Prioritize multifunctional furniture for your new place. For example, why designate space for a guest bed that might be used once a year, when a futon or fold-out couch will allow for more versatile everyday use? Let's talk about your ideal living requirements, and start making plans to "right-size" your living space!