Area Spotlight: Erin Mills

As a team we're a little biased, but right now we think West Erin Mills is a great area in Mississauga to live in. 26 years ago our family home was on Chartrand Crescent (just off HWY 403 and Winston Churchill). Simon and I grew up playing on bendy tree lined streets, went to the local school and enjoyed family bike rides through the Pheasant Run trails. Check out the map below to see the area we're are talking about. 

26 years later the area is now in transition. The kids we grew up have grown up and moved away from home and our former elementary school Ashgrove actually had to close because of a shortage students. However a new trend is emerging as homeowners our parents' age are starting to downsize out of the area and young families are making their way back in to enjoy the maturity of the neighbourhood, the excellent amenities and the wider lots and style of homes you can get for mid range prices. We just sold our clients' home in the neighbourhood and we can honestly say with 11 offers on the home (and with other homes in the area going quickly as well), buyers agree, West Erin Mills is a desirable place to be. Read some more information about the area below. 

Style of Homes:

The majority of homes in the area are single family detached homes with wider lots than what you might see in newer neighboorhoods like Churchill Meadows. There are a variety of single car garage homes mixed with double car garage homes and the majority are 2-storey with brick exteriors.  The homes in this particular area were all built approximately 25-30 years ago. 

Price Range:

Depending on the size, style and finishes as well as the exact location (there is a pocket in the central west part of West Erin Mills where the values tend to be lower) the homes vary in price from $450,000 to $900,000 +. The average sale price from January 1st 2013 until now is $613,644. 

Area Amenities:

Just off the 403 sits the newly constructed luxury family fitness center Lifetime which features an outdoor pool, rock climbing wall and indoor lap pools. With two of our family members as active Lifetime members we can speak confidently when we say the gym is a huge draw to the area. 

The area is minutes to HWY 403, 407, QEW and Clarkson and Erindale GO Stations and has several parks closeby.

Schools:

Loyola Catholic Secondary School was recently relocated and rebuilt at the West edge of the area. Garthwood Elementary school sits at the south part of the area while high school aged students in the public school system are bused to either Clarkson Secondary School (where Simon went) or if your child is in the enhanced learning program or french immersion they can attend Lorne Park Secondary School (where I attended) one of the most esteemed high schools in the Ontario. 

Check out the video tour of the home we recently sold in the area: http://www.youtube.com/watch?v=Y63U9-BlgII 

If you're thinking about making a move, call us today and whether it's Erin Mills or another area in the GTA we can help you and your family find the right area that will work for your budget and needs. 

Enjoy the weekend and the warmer weather (fingers crossed it will stay this time!!), 

Melanie

 


Just Listed: 3151 Valcourt Crescent Video Tour

Check out our newest listing on our Featured Listings page here: http://www.thamteam.com/3151-valcourt-cres 

Also, we've started offering our clients our new video walk through tours of their property to showcase it's best features to those searching for homes online. See our new video tour walk through by clicking the photo below!

 

 

Have a lovely weekend!


First Time Buyer Series: Before Closing Day

Congratulations on purchasing your first home! We’ve put this together to help you figure out what you need to do before your closing day. 
 
What happens on the closing day? A few days before the closing day, your lawyer will meet with you and go over all the documents such as the statement of adjustments (a document that details adjustments to the purchase price based on bills/taxes paid in advance or owing by the seller). On the closing day, your lawyer will have all the details for your financing from your bank and will transfer funds  to pay for the remaining amount owed on the property (your purchase price minus your deposit check). Once this is done and the title of the property has been transferred into your name, you will get a call from your lawyer’s office to go sign documents and pick up the keys to your new home! This can take varying amounts of time depending on a few things so you might have to be patient, however this will absolutely happen no later than 6pm on the date of your closing. 
 
How can I prepare for my closing day? There are several things to do before your closing day:
 
1. Hire a moving truck.  
Just remember you may not get access to your home until 6pm on the day of closing so you might have to be flexible with your truck rental.
 
2. Arrange to have the bills transferred into your name.
The seller will ensure that they cancel all of their services and so they can  then be set up in your name. Sometimes you may need to call a technician to come and set up in your home for things like cable- we recommend calling a week or two before your closing to ensure you get an appointment. If you have just purchased a condo, your maintenance fees may cover some of these costs and you may not need to set up utility accounts. We have provided some of the main services and phone numbers you may need to call below (these may vary depending on your city):
a. Heat- Enbridge Gas: 1-877-ENBRIDGE (362-7434)
b. Water- Peel Water:   905-791-8711  
    Halton Water: 905-825-6000 
    Toronto Water: 416-338-4829
c. Hydro- EnerSource: 905-273-7425 (for Mississauga) 
d. Cable/Internet/Home Phone- Rogers Cable: 1-866-210-4059  
    Bell: 1 888 759-3474 Cogeco: 1-855-404-0005
 
3. Put aside money for closing costs.
Usually it is recommended that you put aside 1.5-3% of your purchasing price for closing costs (usually it will be on the higher end if you are purchasing in Toronto). These include adjustments for utilities, lawyer fees and land transfer tax. In Ontario, every time you purchase a property you must pay land transfer tax on closing. In Toronto you must pay both the Ontario tax and a Toronto land transfer tax. First time buyers receive a rebate on their tax up to $2000 and your lawyer can arrange for this rebate to be transferred back to you on closing. You can also receive a rebate for the Toronto tax if your first home is purchased in Toronto. To find out exactly how much you will owe, check out our land transfer tax calculator at http://www.thamteam.com/Land-transfer-tax.
 
4. Arrange Home Owner's Insurance
Whenever you get a mortgage, your lender will always require proof  that you have acquired a home insurance policy. If you are purchasing a condo sometimes the fire insurance included in your maintenance fees is enough to satify this requirement, however it is recommended you get both even if this is the case. You can usually get a package deal with your auto insurance or you may be able to get home insurance through your bank. The cost will depend on the size of your home but as an example a home in the price range of $500,000 will be in the ballpark for $50-$75 per month. 
 
 
5. Wait to buy big ticket items.
Avoid purchasing new furniture or appliances on credit until after you have moved in as this can affect your credit score and potentially affect your ability to get your mortgage on closing day. 
 
For more information contact Melanie at melanietham@kw.com. 
 
 
 

First Time Buyer Series: Starting the Process

We know that buying your first home can be a daunting and confusing experience! To help you understand the process, we've put together a series of posts that will explain everything from where to begin, to what the conditions mean on an offer, to your moving day and closing costs.

Today's post: How to get Started

1. Talk to a mortgage broker
  • A mortgage broker will ask you to submit an application so they can assess your financial situation and your ability to purchase a home. A broker will be able to help you find flexible solutions for your situation and give you an idea of what kind of buying range you should look in to find a home that’s right for you. They will give you a pre-approval letter based on your application and a credit check which you can then pass forward to your agent so they can help you find homes within that price range. They can also give you an idea of current interest rates and what kind of mortgage payments you will have based on the money you have to put as a down payment.
2. Choose a real estate agent
  • Hiring a real estate professional will ensure that each step in the home buying process is as stress-free as possible. When working with a real estate agent it’s important to find someone you trust to represent you and your family for one of your biggest investments.
  • An agent will also be able to direct you to their trusted partners for your real estate needs such as mortgage brokers, real estate lawyers, home inspectors and contractors to make the process a little easier for you. Professional fees for  buyer agents are paid for by the seller of the home- this makes it all the more beneficial for buyers to have representatives on their side.
3. Finding the home for you
  • Make a list of what you need and want in a home and what areas you are interested in. This takes some careful thinking and planning. Your realtor will be able to provide you with essential market information and recommendations on ideal properties that fit your criteria and your price range in the areas you are interested. When good properties come on the market they can sell quickly- your agent can ensure that you see those properties as soon as they become available so that you have the best chance of getting that home. Your agent can book appointments and start taking you through properties that match your needs. Once you find the right home for you, you can  put in an offer to purchase the property. 

Watch for the next post in the series: The Agreement of Purchase and Sale 

Contact Melanie if you're interested in receiving more information about the purchase or sale of your next home melanietham@kw.com.

 

New Listing: 3838 Coachman Circle

Check out our newest listing! French Inspired freehold townhome in the heart of Churchill Meadows, walk to schools, transit, minutes to all major highways and Lisgar GO. 3 bedrooms, 3 bathrooms and a fully finished basement. Listed at $419,900. Check out the pictures for 3838 Coachman Circle at this link: http://www.rstours.ca/6241

We spend a lot of time helping our clients prepare their home so it looks its very best- right from helping to choose the most neutral, buyer friendly colours, to staging the home with accent pieces to make it stand out from the rest.

For more information about this listing or to find out how you can recieve the same level of service when listing your home, call the Tham Team at 647-400-2945.