There’s no question that buying a new home can be an incredibly exciting time. A new home holds the prospect for a great new chapter in your life; it opens up a world of new opportunities for you to explore; and it can be quite rewarding financially, too. In many cases, a new home is the result of years of saving, and perhaps greater financial flexibility.
The word title has quite a few meanings (including honorifics like ‘His or Her Majesty’), but for our purposes, we’re looking at title as a legal term pertaining to property. Straight from Wikipedia: “In property law, a title is a bundle of rights in a piece of property in which a party may own either a legal interest or equitable interest” (Wiki). A title is legal document conferring, proving, and establishing ownership of property.
Greetings! Welcome to WRX Property Group’s website and blog. As a real estate full-service real estate team, buying and selling homes is at the heart of what we do. And as a Kitchener-based team, we are intimately familiar with Kitchener-Waterloo and the surrounding area. Today, we’d like to share some of our accumulated knowledge and experience with you and provide you with a step-by-step guide to buying a home. We’re going to walk you through the decision of whether to buy, when to buy, and how to buy your home, hopefully alleviating some of the worries tied up in making such an important decision. Leave the worry to WRX Property Group – trust us, we’re professionals!
For quite a few years now, the Waterloo Region has had a reputation for tech innovation. Its name always pops up on lists of entrepreneurial havens and startup hubs. The Waterloo Region has a population of just under 550 000, but it is ranked on the same level as Canada’s largest cities: Toronto, Montréal, Ottawa, and Vancouver, despite substantially larger populations than the Waterloo Region, are on the same playing field in terms of success, investment, and the formation of new tech startups.
The Canadian Technology Triangle (CTT) was a group and an idea that brought the Waterloo Region to the world stage; it suggested that Kitchener, Waterloo, Cambridge, and the surrounding townships of Wellesley, Wilmot, Woolwich, and North Dumfries had something special going on.
This was not just a regional phenomenon, but a movement worthy of international attention (and investment). The CTT attracted investors, and it helped innovators, entrepreneurs, and small businesses prosper and grow throughout the Region. The CTT passed the baton to the Waterloo EDC (Waterloo Economic Development Corporation) in 2015, and this organization continues the CTT’s noble purpose.
But the Canadian Technology Triangle, in its name, suggested that this Region was interconnected, with no single centre of activity; the name Waterloo EDC has come under some scrutiny for the implication that Waterloo itself (the city) was of greater importance than the other parts of the triangle.
In truth, the TriCities and the surrounding Townships all contribute to the Region’s sterling reputation. So for today, we’re going to put Waterloo (the city) aside for a moment (mostly), and focus our attention on Kitchener – particularly, Downtown Kitchener’s tech sector.
We’re all familiar with leasing a property, whether residential or commercial. But what about leasing just the land itself? Even more so, imagine living in a building that you fully own, however, the land underneath it is not yours.
That is quite the scenario to consider, but surprisingly, it is actually an arrangement that exists. This form of home ownership is called a land lease. In this article we’re going to explore how land leases work, some pros as to why people consider signing up for land leases, and of course, some of the drawbacks and compromises involved.
Life lease properties are a form of housing that carry a unique set of features, having some aspects of regular home ownership as well as some aspects of rental properties. In Canada, life lease communities are growing ever popular among seniors because of the amenities they offer, however, they don’t necessarily have to be seniors’ communities.
The idea with life lease projects is that they are designed to cater to a specific demographic, offering a set of services and amenities that relate to their residents’ lifestyles.
Investing in real estate is an exciting option to consider. One of the most frequent arguments in favour of real estate is the fact that, as its name implies, it is “real.” It deals with physical properties and physical plots of land, which has great advantages in and of itself.
Namely, the tangible nature of these assets makes them fairly safe compared to other types of investments.
Consider a worst case scenario: different varieties of markets, and their associated companies and investments, can experience a sudden decline. Stocks can plummet in value, companies can go out of business, and consequently many investments that look solid “on paper,” so to speak, can ultimately turn out to be worth little more than the paper they’re printed on.
Real estate’s greatest benefit is that you own something physical – something tangible and real. So even if the local real estate market takes an unfavourable turn, you are still left with the physical property or plot of land as you purchased it.
This makes it incredibly versatile, because it can outlive a market downturn and eventually regain its value as the market enters a recovery cycle.
There truly is never a dull moment in real estate these days. We’ve all heard about the great enthusiasm and commotion out there on the market. Whether it’s the sizzling hot Greater Toronto Area, or the rapid expansion of our own Kitchener-Waterloo, there seems to be a lot going on.
So much so that it has prompted a reaction from officials who are concerned about the stability of the market environment. Over the course of the coming year we’re going to see a few important changes to the landscape.