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We have just listed this great property at 2166 Robinson ST in Regina.
Welcome to 2166 Robinson St. which is right beside Safeway in the heart of Regina's trendy Cathedral neighbourhood. This house sits on a 33.5’x125’ lot and was originally built in 1911, however has received major renovations throughout since then. It now has 5 separate 1 bedroom, 1 bathroom suites with private entrances to each unit. Each unit is in great shape and currently rented out. Total rent currently is $3,350/month. Unit #1 is on the front side of the main floor and unit #2 is on the back side. Unit #3 is on the front side of the 2nd floor and unit #4 is on the back side Unit #5 is on the top floor. All units are heated with a common boiler and each unit has their own power meter and the tenants are responsible for paying for their own power. There is a shared laundry pair in the basement level. The basement has been braced and has a pony wall on all 4 walls as well as an engineers certificate available upon request. The building is quite low maintenance overall as it has a stucco exterior, and has metal roofing as well as newer eavestroughs with gutter guards. The backyard is all gravel and is used for tenant parking. Click on the virtual tour link for a 3d tour of 3 of the suites! Video is also on Youtube if you search the address! *PLEASE NOTE Units #1 and #3 were unavailable for pictures, videos and the virtual tour.
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We have just listed this great property at 3515 Lang AVE in Regina.
Welcome to 3515 Lang Avenue. This 1961 built, 960 square foot, 4 bedroom 2 bathroom bungalow sits on a 55'x110' lot in Regina’s Coronation Park Subdivision. It's close to 3 schools, restaurants, a grocery store, a pharmacy and bus routes. You enter this home into the bright, fully renovated open concept living room and kitchen with LED pot lights on a dimmer throughout. The beautiful new Samsung stainless steel fridge, stove, dishwasher and microwave are all included in the white ikea kitchen with tile backsplash. There is also under cabinet lighting, live edge wooden shelves, and soft close drawers and doors. The house is also equipped with central air conditioning, a central vacuum and a high efficiency furnace. The other half of the main floor is made up of the primary bedroom, 2 other bedrooms and the main 4 piece bathroom that has been upgraded with white tile, modern fixtures, a dual flush toilet and floating vanity. The exterior and interior doors have all been replaced. Downstairs you have a living area, a utility room with 100 amp electrical, a storage room as well as another bedroom and 3 piece bathroom. The washer and dryer are also included with the home. Outside in the back you have a 24’x14’ detached drive through garage that is split down the middle and has car storage on one side and a workshop with 220 amp power on the other. The spacious yard is partially fenced with a patio and garden space. The front yard is xeri scaped for your convenience. The exterior of the house is made of vinyl siding making it very low maintenance.
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Hello friends. There's been a lot of talk lately about interest rates and where they're headed. Of course, because they are historically low, that means they can only go in one direction, right?? Anyway, recently there's been news and speculation about the Bank of Canada raising its overnight rate as soon as this upcoming spring in order to help with inflation. Initially the plan was to start doing this in the fall of 2022. Of course this is just speculation, but its definitely something we need to keep an eye on. I hope you find this informative. Cheers!



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We have just listed this great property at 313 Scarth ST in Regina.
Welcome to 313 Scarth St. This spacious bungalow is located on a quiet street and boasts a large fenced yard with plenty of trees and grass for you and your family and friends. The home is nice and bright, and welcomes you in with a large living room, which flows into a convenient dining area. The kitchen is open and contains plenty of storage space and updated cabinets, counters and backsplash. The home features three large bedrooms, and the master even has its own full four piece ensuite bathroom. The yard is fully fenced with a large deck and parking off the back alley. Lots of updates including some windows, siding, soffits, deck, kitchen, bathrooms, and much more! This is a great investment or starter home for someone who wants to live a low maintenance lifestyle and save money on their mortgage. Don't miss it!
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We have just listed this great property at 1525 Athol ST in Regina.
Welcome to 1525 Athol St. This 1928 built 951 square foot 3 bedroom, 1 bathroom bungalow sits on a 25'x125' lot in Regina's Washington Park subdivision, close to schools, bus routes and downtown. You enter this home into the living room with hardwood floors and a wood burning fireplace. You continue through the dining room area to where the kitchen used to be before there was an unfortunate fire in this home at one time. The main floor is completed with 3 good sized bedrooms and the main 4 piece bathroom. The basement appears to be in pretty good condition for its age and has the furnace and water heater down there. This house does require quite a bit of work before it would be habitable, but is an excellent opportunity to add value.
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We have just listed this great property at 929 McTavish ST in Regina.
Welcome to 929 Mctavish St. Located across from a public park, this excellent 1048 sq.ft. bungalow is perfect for your growing family and features a very spacious and open floor plan, with a bright living room, large kitchen with dining area, master suite with ensuite bathroom, and another bedroom all on the main floor. The basement is fully developed with a family room, two large bedrooms, and a full four piece bath. Out the back is a large fully fenced yard, with a convenient deck, and plenty of space for your pets to run around! Don't miss this excellent family home, call to view it today!
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New Build or Existing Home: Which One Is Right for You?  


Homebuyers today are facing a huge dilemma. There simply aren’t enough homes for sale.1


Nationwide, the number of newly listed homes dipped slightly in September, down 1.6% from August. According to the Canadian Real Estate Association, that’s only about 2.1 months of inventory, which is far less than the five to six months that is generally needed to strike a healthy balance between supply and demand.2


Given the limited number of available properties, if you’re a buyer in today’s market, you may need to expand your search to include both new construction and resale homes. But it can feel a little like comparing apples to oranges.


Let’s take a closer look at some of the factors you should take into account when choosing between a new build or an existing home. 



TIMEFRAME


How quickly do you want (or need) to move into your next home? Your timeframe can be a determining factor when it comes to choosing between a new build or resale.


New Build

If you opt for new construction, you may be surprised by how long you have to wait to get the keys to your new digs. Nationally, the average timeline has more than doubled over the past 20 years from 9 to 21 months.1 And according to a survey by the Canadian Home Builders’ Association, nearly 60% of builders are reporting delays—averaging six weeks—due to supply-chain disruptions brought on by the pandemic.3


These supply shortages have led to soaring prices, causing some builders to cancel contracts or demand more money from unsuspecting homebuyers long after agreements were signed.4 Unfortunately, this scenario can throw a major wrench in your moving plans and delay your timeline even further.


To minimize these types of surprises, it’s crucial to have a real estate agent represent you in a new home purchase. We can help negotiate contract terms and advise you about the potential risks involved.


Existing Home

If you're in a hurry to move into your next residence, then you may want to stick to shopping for an existing home. 


You can typically move into a resale home on your closing date.5 While closing on an existing home can take anywhere from a few weeks to a few months, it’s almost always faster than the time it would take to build a new one. 


If you need to move even sooner, it’s sometimes possible to close faster, especially if you’re a cash buyer. In fact, many sellers prefer a quick closing, so it can give you an advantage in a competitive market. 



LOCATION


From commute to construction to walkability, there’s a lot to consider when choosing your next neighbourhood.


New Build

Canada is currently undergoing a major residential construction boom, and rural and smaller urban communities have been the first to benefit—primarily because the single-detached homes located in those areas take less time to build.6 That means, if you opt for a new single-family home, you could be facing a longer commute and ongoing construction for some time.


If you prefer a multifamily unit, there should be an increased supply coming on the market soon. Over the past year, condos and apartments have accounted for 55% of the housing starts. A growing number of these are located in master-planned communities that combine residential, retail, restaurants, and office space—enabling residents to live, work, and play in a single space.7 


Existing Home

An existing home is more likely to be located in a neighbourhood with mature trees, established schools, and a deeply-rooted community. As a result, you may find the neighbourhood's trajectory to be more predictable than an up-and-coming area. 


But the amenities may be lacking and the infrastructure dated when compared to newer communities. And while some homebuyers love the charm and eclectic feel of an older neighbourhood, others prefer the sleek and cohesive look of a newer development.



MAINTENANCE


Are you a DIY enthusiast, or do you prefer a low-maintenance lifestyle? Set realistic expectations about how much time, effort, and money you want to devote to maintaining your next home.


New Build

When you build a home, everything is brand new. Therefore, in the first few years at least, you can expect less required maintenance and repairs. A 2019 survey found that millennials' homebuying regrets often came down to maintenance issues, rather than other concerns.8 So if you would rather spend your weekends exploring your new neighbourhood than fixing a leaky faucet, you may be happier buying a turnkey build. 


That doesn't mean, though, that a new home will be entirely maintenance-free. In fact, depending on the builder, you could find yourself repairing more than you expected. Some home builders have reputations for shoddy construction and subpar materials, so it's important to choose one with a solid reputation. We can help you identify the quality builders in our area.


Existing Home

No matter how good a deal you got when you purchased it, you could come to regret buying an older home if it later costs you heavily in unexpected maintenance and repairs. For example, according to the home service professional network HomeStars, the average price to replace an HVAC system is $4,995. And you can expect to pay a similar amount ($4,750) for a new asphalt shingle roof.9


Fortunately, there are ways to prepare for these large expenditures ahead of time. We always recommend that our buyers hire a certified home inspector, whether they buy a new or existing home. Once we have the inspector’s report, we can negotiate with the seller on your behalf for reasonable repairs or concessions.



ENVIRONMENTAL IMPACT


On a quest for greener living? If so, there are several factors to consider when deciding on your next home.


New Build

There’s a growing demand for energy-efficient housing, and many builders are rising to the challenge. Currently, more than one million homes in Canada have received an EnerGuide Rating, which measures a home’s energy performance against a benchmark.10 While all newly-constructed housing must meet the National Building Code requirements, there are a number of certifications that homes can earn if they receive an EnerGuide rating that exceeds these minimum standards.


Examples include the Net Zero label from the Canadian Home Builders’ Association, which is awarded to homes that are 80% more energy efficient than conventional homes and utilize a renewable energy system to fulfill their remaining energy needs. ENERGY STAR and R-2000 are other well-regarded certifications that can be earned by homes that meet certain performance standards. So if energy efficiency is a top priority, a new home with a low EnerGuide rating or recognized designation may be a good choice for you.10


Existing Home

Of course, a basic tenant of sustainable living is: reduce, reuse, recycle. And since a resale home already exists, it automatically comes with a lower carbon footprint. Research has also shown that remodelling or retrofitting an older home is often greener than building one from scratch.11 


With some energy-conservation effort and strategic upgrades, environmentally-conscious consumers can feel good about buying an existing home, as well.



DESIGN


Double vanity? Kitchen island? Whirlpool tub? Must-have design features could drive your decision to build or buy resale.


New Build

With a new home, you can bet that everything will look shiny and perfect when you move in. Builders tend to put a lot of emphasis on visual details and follow the latest design trends. For example, newly-built homes are likely to include features that the majority of today’s buyers want, such as double bathroom sinks, kitchen islands, and walk-in pantries. They’re also less likely to include home theatre rooms or whirlpool tubs, both of which have lost mass appeal.12 


However, some buyers complain of the cookie-cutter feel of new homes since they are often built with a similar aesthetic. That doesn't mean, though, that you can't incorporate your own style. We can help you negotiate custom features and upgrades to personalize the space and make it feel like your own.


Existing Home

In some of the most coveted neighbourhoods, an older home with classic styling and character can be highly sought after. But unless the previous homeowners have invested in tasteful updates, an existing home is also more likely to look dated. 


While some buyers prefer the traditional look and character of an older home, others prefer something more modern.  If that’s the case, we can help you find a resale home that leaves enough room in your budget to renovate it to your liking.



WHICHEVER PATH YOU CHOOSE, WE CAN HELP


When it comes to choosing between a new build or an existing home, there’s no one-size-fits-all answer. There are numerous factors to consider, and you may have to make some compromises along the way. But the homebuying process doesn’t have to feel overwhelming.


We’re here to help. And in many cases, our homebuyer guidance and expertise are available at no cost to you! That’s because the home seller or home builder may compensate us with a commission at closing.


Some new-construction homebuyers make the mistake of visiting a builder’s sales office or even purchasing a home without their own real estate representative. But keep in mind, the builder’s agent or “sales consultant” has their best interests in mind—not yours. 


We are knowledgeable about both the new construction and resale home options in our area, and we can help you make an informed decision, negotiate a fair price, and avoid mistakes that can cost you time and money. So give us a call today to schedule a free, no-obligation consultation—and let’s start searching for your next home!



Sources:

  1. RBC -
    https://thoughtleadership.rbc.com/home-builders-are-tackling-canadas-housing-supply-shortage/
  2. Canadian Real Estate Association -
    https://creastats.crea.ca/en-CA/
  3. Financial Post -
    https://financialpost.com/real-estate/homebuilders-have-been-busy-during-the-pandemic-but-canada-still-needs-more-housing
  4. Better Dwelling -
    https://betterdwelling.com/canadian-home-builders-are-asking-buyers-for-more-money-to-finish-building/#_
  5. Legal Line -
    https://www.legalline.ca/legal-answers/when-can-you-move-into-your-newly-purchased-home/ 
  6. Financial Post -
    https://financialpost.com/real-estate/there-has-never-been-more-housing-under-construction-in-canada-but-the-city-that-needs-it-the-most-is-missing-the-boom 
  7. BC Business - https://www.bcbusiness.ca/2021-Real-Estate-Report-With-a-push-from-COVID-the-BC-property-market-enters-new-territory
  8. Bankrate -
    https://www.bankrate.com/real-estate/homebuyer-regret-survey-may-2021/
  9. HomeStars -
    https://homestars.com/cost-guides/
  10. Canadian Home Builders’ Association -
    https://blog.chba.ca/2021/05/14/are-all-energy-efficient-homes-the-same/
  11. Advanced Materials Research - https://www.researchgate.net/publication/271358381_Comparative_Study_of_New_Construction_and_Renovation_Project_Based_on_Carbon_Emission 
  12. Canadian Home Builders’ Association -
    https://blog.chba.ca/2020/11/26/todays-new-home-buyers-preferences/
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