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May 2019 Real Estate Roundup – Kitchener Waterloo

May 2019 Real Estate Roundup – Kitchener Waterloo

As most of the investors around the world are looking for some of the best real estate markets around, Kitchener/Waterloo is one of the most attractive sites for them. There are so many amazing things to know about this market that may attract you to make a profitable investment.

Kitchener/Waterloo home sales have set a benchmark in the month of April and May this year, and it is expected to grow more ahead. If we talk about the all-time high value of all property types for April 2017, it was $512,656; however, in the month of May 2019, it rose up to $534,348. It shows an average rise of 10% as compared to May 2018. Detached homes also have a great rise in the Kitchener/Waterloo real estate market, and buyers from different corners of the world are investing in them. The average rise in price was 9.1% in the month of May when the average sale went up to $623,289. It also crossed the $600k mark that was observed recently in the month of April 2019. The estimated sales for apartment condos rose by 11.3 percent, whereas, for townhomes, the marked value was 9.8%. The semi-detached homes further went up by 9.3% in the month of May this year.

The local real estate market in the area is gaining popularity worldwide, and it is now having a great contribution to the national economy. If we look at the stats, the average rise of 2.6 percent was observed in the month of May as residential sales touched the figure of 429. The market witnessed the sales of 68 condominium apartments; it was down by 23.6 percent. The sales for townhouses also went down by 4.2 percent and for 60 semi-detached homes; they rose by 36.4 percent.

Brian Santos recently shared his experience in a recent interview saying that this year is a golden year for Kitchener/Waterloo real estate market as the sales for residential properties are rising by a great extent. The sales picked the highest momentum after Victoria Day holiday, and it is now expected to rise for several months ahead. Real Estate Agent Kitchener also consider it a profitable time for the local market.

The average rise in sale properties was observed to be 10.6 percent for the month of May, with the price tag of $534,348. For the detached homes, it rose by 9.1 percent with the average price rise up to $623,289. In the same duration, the average sales price for the condominium-style apartments increased by 11.3 percent, and it reached the figure of $332,309. On the other side, the price rose by 9.8 percent and 9.3 percent for townhomes and semi-detachable homes with an average price of $402,426 and $432,207 respectively.

The medium price for the residential properties in the month of April at Kitchener/Waterloo rose by 11.2 percent whereas, for the detached homes, it was high by 10.4 percent. There were 1012 properties listed for sale in the month of May this year, and they sold most of them with a great hike in price. Realtor in Kitchener can also help you find a new home in the area.

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Should You Sell or Renovate Your Home?

Should You Sell or Renovate Your Home?

If you are thinking about selling your house and have seen some TV shows about renovating and think it is easy that you are considering renovating in your own way to increase the value of your house. However, before you embark on the renovations project you should be aware of a few things first. These projects can be costly, so you need the expert advice of a realtor, finding a good Kitchener Real Estate agent can help you make the right decision when selling or renovating your home. And in addition to finding a professional real estate agent, here are some other things to consider.

Renovate A House VS Buy A New One

Before making a decision, it is imperative to consider what you and your family need in a home and if those needs can be met with a renovation. If you want to drastically increase the number of square meters, make changes in all the rooms or design a custom house, it may be convenient to consider the demolition and reconstruction of the house. If you only plan to remodel the basement to convert it into a useful space, expand the kitchen or add a second floor, renovating your home may be the cheapest and smartest choice.

But before making a decision it is essential to consider what are the advantages and disadvantages of renovating a house or demolishing it and building a new one.

Advantages Of Buying A New Home

  • The design is 100% customizable, so you can get the type of house you want as long as the budget fits your pocket.
  • The satisfaction of getting involved in the design and construction process of your home is indescribable.

Advantages Of Renovating A House

  • Renovating a house can be very entertaining and allows you to incorporate the characteristics and style you want.
  • If you like the area where you live, renovating your home is a great alternative to improve various aspects of housing without the need for removals.
  • If you plan to sell the house in the near future, the remodels could add value to the sale price and make it a more attractive option for potential buyers.

Costs

As we have explained before, if you are planning a very radical renovation that includes structural changes (ceilings, floors, electrical installations, plumbing, etc.), it may be cheaper to start from scratch.
Also, no matter how much planning you have, the costs of remodeling a house can also go up due to unforeseen problems that arise during the work; That is why it is essential to request a budget of everything before making a decision. A Kitchener Realtor can help you find a new home with your own budget.

Age Of The Dwelling

If you have recently been looking at old houses to remodel because you like the wooden floors or the decorative ceilings, you know that it is not worth breaking down the house to build a new one. However, you should be very careful with the state in which the house is located, because if it is too old, structural problems may arise and become a real danger.

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