Historically, it has been difficult for home buyers to make the jump from an attached home to a detached home, as houses have almost always outperformed condos and townhouses. This past year (click here for a 2017 recap) has offered an opportunity to make that jump more easily.

In 2017, condo prices saw a 26% increase, while townhouses went up 18%. For condo owners looking to upsize, these numbers definitely fall in their favour. For example, if you owned a condo last year worth $400,000, your market value has gone up just over $100,000 to bring it to $504,000 (congratulations!). The more money you have made on your condo, the easier it will be to enter the townhouse (or house) market.

Why make the move from a condo to a townhouse? What’s the difference? Well, typically you will get more square footage in a townhouse. This is ideal for growing families, couples who need more space or professionals seeking a more useable home office space. Another bonus is that many townhouses come with private garages, allowing you to skip fobbing into your underground and catching the elevator up. A garage also provides convenient storage space that is easy to access. Townhouses also offer multiple levels of living space, and often lower maintenance fees (depending on the complex) as there are typically fewer units and fewer amenities offered.

For those who own townhouses, townhouse prices went up 18% in 2017, while houses only saw an 8% increase in pricing. So, generally speaking, if your townhouse was worth $600,000 last year, your market value now sits around $708,000. If you own a house that was worth $1,000,000 last year, your market value now sits around $1,080,000. As you can see, the gap between the two is much smaller than what we typically see.

Why make the move from a townhouse to a detached home? Owning land has always been the most lucrative form of home ownership. Ever heard Mark Twain’s famous quote “buy land, they aren’t making it anymore”? Usually buying a house means upsizing to more space with a bigger yard. It also means getting rid of strata fees (unless you buy a strata home) and gaining the ability to alter and renovate your home without obtaining strata approval. Don’t forget to buy a lawn mower! That’s your job now!

Your condo or townhouse could be worth more than you think. Contact us anytime for a complimentary, no-obligation market evaluation.

Christmas really is the most wonderful time of the year, and what better way to celebrate than with family and friends?! Throwing a Christmas Party is so much fun — here are some tips to get you through the planning and set up.

#1. The TREE! It’s all about the tree (second to the food… which is second to the wine). Be sure to have your tree up and decorated in time for your party. Don’t have one? Keep an eye on Black Friday sales or other sales leading up to Christmas. The Bay‘s One Day Sales are fantastic and they tend to offer great deals on their trees. IKEA also offers reasonably priced trees, along with well-priced decorations. And of course, if the option is available to you, go out and get a real tree!  Too early for presents? Wrap up some empty boxes to throw under the tree.

#2. Once your guests have admired your tree, offer them a beverage! You can’t go wrong with a self-serve punch bowl (with or without the vodka!) — the ingredients are cheap and easy & it tastes great! It also doesn’t hurt to have some eggnog in the fridge if you’re feeling festive. As for wine, Everything Wine offers some good deals on select bottles (and they deliver!!). Another option is having your guests each bring 1-2 bottles so that you only have to worry about the food! That’s fair!

#3. Food! There are so many options when it comes to food for the party. Keep it casual with easy appetizers and snacks — you can’t go wrong with Costco! Plus throw in some baked goods if you get the time to bake (otherwise pick some up at the store). Another option is a pot-luck style dinner! Have each guest bring a dish and dig in! If you want to go all out, invite a friend or two over early and get cooking! Turkey, stuffing, veggies, mashed potatoes, the whole nine yards. If you’re doing a sit-down dinner, make sure you know how many people to expect in case you need to rent chairs/tables/glassware. And don’t forget the table cloths to make for a quicker clean-up!

#4. You NEED a good Christmas music playlist! Get onto your Apple Music account or however, else you stream music and compile all of your favourite Christmas songs — mix it up by adding some classics, along with some more modern Christmas songs. Another option is always the Holiday Favourites channel on TV (channel 428 for Shaw) or the good ol’ fire log! Turn it into a drinking game every time the mysterious hand replaces a log. Don’t have any streaming services? Let us know by sending us an email @ aowens@sutton.com and we will send you one of our complimentary Christmas CDs!

#5. Decor. Christmas decorations can be expensive, and if you haven’t been building up your collection for a few years, the thought of getting your home Christmas-ready can be a bit daunting. IKEA, Walmart, Superstore and the Dollar Store are your friends. Walmart has lots of garland and general decor options under $10. Grab a simple, cheap wreath and cluster some candles in the middle of it on the coffee table and there you have a centre piece! Grab some mistletoe at your local florist and hang it in a sneaky spot to surprise your guests! Create a photo background on a blank wall by taping up some gift wrap or getting creative with a roll of white paper and cut-outs/sharpies — this always makes for fun memories for your guests. If it’s available to you, borrow some decorations from mom & dad or any other family members or friends who might be willing to lend you some Christmassy decor for the night!

#6. Keeping the night fun! Bring out some board games or create your own fun Christmas games! Have kids in attendance? Have some Christmas-themed colouring sheets printed out for them, gingerbread men or houses ready to be decorated and maybe a Christmas cartoon on in another room. Actually, do those things anyway because who doesn’t love building a good gingerbread house?!

#7. HAVE FUN! All that really matters at the end of the night is that you got some quality time with your friends and/or family. Enjoy yourself and make amazing memories that will make you smile all holiday season long!