Curb appeal refers to the visual attractiveness and overall charm of a property's exterior. It includes elements like landscaping, architectural details, cleanliness, maintenance, and design features, all of which shape the first impression that potential buyers or visitors will have of the home.

With each changing season, it's an opportunity to refresh your home's outdoor space. Whether you're preparing to sell or simply take pride in your well-maintained home, there are several easy ways to enhance your home's exterior this summer.

Here are five effective strategies to boost your curb appeal:

1. Revamp the Driveway Your driveway is one of the first things noticed upon arrival, making it crucial for curb appeal. Start by pressure washing to remove dirt and debris. If you find any cracks or loose stones, repair or replace them as needed. For a fresh look and added protection, consider sealing the driveway.

Adding a rock garden or hedge can enhance the visual appeal, providing a natural and attractive border that complements your landscaping.

2. Tend to Your Lawn and Gardens An overgrown lawn and weed-filled garden can be off-putting. Improve your lawn by seeding, fertilizing, and aerating, and ensure it's adequately watered. Refresh garden beds with new mulch and plants. If starting anew, use landscaping fabric to keep weeds at bay while allowing water and air to nourish the soil.

3. Enhance Your Front Entrance Your front entryway sets the tone for your home. Start by cleaning the area, fixing any damage, and replacing burnt-out light bulbs. Paint your front door a vibrant color to brighten the facade and protect it from the elements. Add decorative touches such as hanging or potted plants, comfortable seating, and a seasonal wreath to create a warm and inviting entrance.

4. Update Your Deck and Patio Clean your patio and deck with a pressure washer and apply a fresh coat of protective stain to the deck. Remove weeds between patio stones and consider cleaning the siding and windows while you're at it. Refresh or replace weathered patio furniture and arrange it for optimal enjoyment.

Add potted plants to your deck or patio for added privacy and aesthetics. Large plants can act as a barrier from neighbors while also attracting beneficial wildlife like bees, birds, and butterflies.

5. Upgrade Your Lighting Outdoor lighting can dramatically enhance your home's appearance after dark. Install pot lights under the eaves to illuminate the exterior and create a grand effect. Solar-powered lights along the driveway or walkway provide both functionality and a welcoming ambiance. If space allows, add a pendant light to the front porch for a cozy touch. Lanterns or string lights can transform your patio, deck, or backyard into a charming space for relaxation and entertaining.

By making these updates, you can significantly boost your home's curb appeal. Even small changes can make a big difference, helping to create a welcoming and visually appealing exterior that reflects your personal style and pride in your home.

The Ottawa real estate market showed signs of growth in July 2024, with 1,241 homes sold through the MLS® System of the Ottawa Real Estate Board (OREB). This represents a 13.6% increase compared to July 2023.

However, home sales were still 7.1% below the five-year average and 8.8% below the 10-year average for July. Despite this, year-to-date sales figures were encouraging, with 8,349 units sold by July 2024, marking a 5.5% increase from the same period in 2023.

The market’s performance is a positive signal amidst the usual summer slowdown, reflecting growing buyer confidence and a steady stream of new listings. Recent policy changes, including interest rate cuts and extended mortgage amortization periods for first-time buyers, could further support the market, though supply challenges remain.

Price Trends

The MLS® Home Price Index (HPI) provides a detailed view of price trends:

The overall MLS® HPI composite benchmark price in July 2024 was $648,900, up slightly by 0.1% from July 2023.

Single-family homes had a benchmark price of $734,700, down 0.1% year-over-year.

Townhouse/row units saw a benchmark price of $506,100, an increase of 3.4% compared to last year.

The benchmark price for apartments was $422,800, a decrease of 0.9% from July 2023 levels.

The average price of homes sold in July 2024 stood at $679,610, reflecting a 2.1% decrease from July 2023. The year-to-date average price, however, showed a slight increase of 1.0%, reaching $681,082. The total dollar volume of home sales in July 2024 was $843.3 million, an 11.3% increase from July 2023.

Inventory and New Listings

New residential listings in July 2024 increased by 17.1% from the previous year, totaling 2,231 new listings. Active residential listings at the end of July 2024 numbered 3,480 units, a substantial 37.0% increase from July 2023. The months of inventory, which indicates how long it would take to sell current listings at the current sales pace, rose to 2.8 months, up from 2.3 months in July 2023.

These statistics reflect a market that is gaining momentum, with increasing buyer activity and a growing inventory, although challenges around supply and affordability persist.

Source: Ottawa Real Estate Board

Do you often find yourself browsing listings and dreaming about your next move? If so, it’s essential to look beyond listing prices and down payments. Whether you're looking to upgrade or make your first investment, it's crucial to consider various financial aspects before buying a home. Here are some key expenses to factor into your decision:

Utilities

Upgrading to a larger home or one with older, less efficient appliances can significantly impact your utility costs. It's important to estimate these additional expenses accurately. Consider the size of the home, the age and efficiency of the heating, cooling, and water systems, and any additional appliances that might come with the property. Add these estimated costs to your current monthly budget to see how a move might affect your overall spending. Doing this will help you avoid any surprises when your first utility bill arrives after the move.

Mortgage Penalty

Breaking your current mortgage term early might come with a penalty, which is usually around three months' worth of interest. However, this amount can vary depending on your lender and the terms of your mortgage. It's crucial to read the fine print of your mortgage agreement and understand the penalties for early repayment or refinancing. In some cases, negotiating with your lender for a lower penalty or even exploring the possibility of porting your mortgage to the new property might be beneficial. Always consult with your financial advisor to understand the best course of action.

Moving Costs

Moving is never just about transporting your belongings from one place to another. There are numerous additional expenses to consider. If you plan to hire professional movers, get quotes from multiple companies and check for any hidden fees, such as charges for moving large items or extra insurance. If you opt for a DIY move, factor in the cost of renting a moving truck, fuel, and possibly temporary storage. Don’t forget smaller costs like packing materials or even throwing a pizza party to thank friends who help you move. If your schedule allows, consider moving during the off-peak season when costs tend to be lower.

Legal Fees

Hiring a trusted real estate lawyer is essential to ensure that all the legal aspects of your home purchase are handled correctly. Legal fees can vary widely, so it’s important to understand what services are included in the fee structure. These services typically include reviewing the purchase agreement, conducting a title search, handling the transfer of funds, and registering the new property with the local land registry office. Always get a detailed breakdown of the estimated costs and confirm these with your lawyer before you sign any offers. This will help you avoid any unexpected charges at closing.

Additional Considerations

Beyond these primary expenses, there are other costs to consider when buying a home. These might include home inspection fees, property taxes, insurance, and potential renovations or repairs needed immediately after purchase. A thorough home inspection can reveal issues that might not be apparent during a regular viewing and can give you leverage in negotiating the purchase price or requesting repairs before closing.

By carefully considering all these financial aspects, you can make a well-informed decision and ensure that your dream move doesn't turn into a financial nightmare. Planning ahead and budgeting for these expenses will help you transition smoothly into your new home and enjoy it from day one.

Ready to dive deeper into the home-buying process? Visit our latest blog for comprehensive tips and insights to guide you every step of the way. Contact us to ensure you're well-prepared for a successful move by uncovering all potential hidden costs!

Get ready for an incredible weekend in Ottawa! From fireworks to buskers, ribs, and poutine, there's something for everyone. Check out this list of events and share it with your friends. Know of any other events? Share them in the comments!

12 Must-See Events in Ottawa

Casino Lac-Leamy Fireworks Experience world-class pyromusical performances, culinary delights, artistic showcases, and multimedia art installations. Tickets start at $16. Watch from various points along the Ottawa shoreline, including Major’s Hill Park. Fireworks at 9:15pm.

When: July 31 and Aug 3, 7, 10, 14, 17
Where: Canadian Museum of History grounds, Laurier St, Gatineau
Details:feux.qc.ca

Ottawa International Buskerfest Enjoy world-class performances, free workshops, strolling acts, and food vendors. Free entry.

When: August 2-5
Where: Sparks St
Details: ottawabuskerfestival.com

Capital Ribfest & Poutine Savor the best ribs and poutine, along with live music, games, and drinks. Free entry.

When: August 2-5, 12-9pm (Mon, 12-6pm)
Where: City Hall, 110 Laurier St W
Details: capitalribfest.ca

Ottawa Chamberfest The largest and one of the oldest chamber music festivals in the world celebrates its 30th anniversary. Enjoy free and paid concerts in beautiful venues.

When: July 25-Aug 8
Where: Various venues
Details: chamberfest.com

Capital Pop Up Cinema Watch a free outdoor screening of "The Wedding Singer." Approx. 8:45pm.

When: Friday, Aug 2
Where: Beachwood Cemetery, 280 Beechwood Ave
Details: IG @capitalpopupcinema

613 Flea Shop from over 150 vendors offering eclectic goods, handmade items, antiques, vintage clothing, food, and more. Free entry.

When: Saturday, Aug 3, 10am-4pm
Where: Aberdeen Pavilion, Lansdowne Park, 1015 Bank St
Details: @613flea

Atletico Ottawa vs Cavalry FC Support Ottawa’s professional soccer team against Cavalry FC from Calgary.

When: Saturday, Aug 3, 7pm
Where: TD Place, 1015 Bank St

Colonel By Days Explore Ottawa’s rich history and the canal builder’s legacy with live tours, period costumes, and workshops. Free entry.

When: Saturday, Aug 3-Monday, Aug 5, various times
Where: Ottawa Locks Bytown Museum, 1 Canal Lane, Ottawa
Details: ottawamuseumnetwork.ca

Open Doors at Rideau Hall Tour the grounds, state rooms, gardens, and greenhouses of the Governor General's residence. Free entry.

When: Saturday, Aug 3-Monday, Aug 5, 10am-4pm
Where: Rideau Hall, 1 Sussex Dr, Ottawa
Details: gg.ca

Company of Fools: Macbeth Enjoy Shakespeare’s Macbeth with an all-female/non-binary cast. Pay-what-you-can ($20 suggested).

When: Friday, Aug 2-Monday, Aug 5 (and beyond), 7pm-8:30pm
Where: Aug 2nd Alexander Grove (Stittsville), Aug 3rd Fairmont Park (Civic Hospital), Aug 5th Strathcona Park (Sandy Hill)
Details: fools.ca

Glengarry Highland Games Experience Scottish heritage with over 60 pipe bands, 200 Highland dancers, and traditional sports. Tickets: $30 (children 12 and under free).

When: Friday, Aug 2, 8am-2am; Saturday, Aug 3, 8am-10pm
Where: 34 Fair St, Maxville
Details: glengarryhighlandgames.com

Festival Country du Grand Gatineau Celebrate the 32nd edition of the Grand Gatineau Country Festival with performances by over 40 country music artists. Tickets: $26.85 & up.

When: Aug 1-4; Friday from 7pm, other days from 1pm
Where: Father Arthur Guertin Center, 16 Rue Bériault, Gatineau
Details: countrygatineau.com

Saturday

Crush: The Bon Jovi Experience Enjoy Bon Jovi's greatest hits with Crush. Tickets: $25.57-$31.59 incl tax.
When: Saturday, Aug 3, 8pm-11pm
Where: Rideau Carleton Casino, 4837 Albion Road

Major League Quad Watch the Ottawa Black Bears face the Boston Forge in the 2024 MLQ finale. Pay-what-you-can (min. $5).
When: Saturday, Aug 3, 2pm-5pm
Where: 140 Main St, Ottawa
Details: mlquadball.ticketleap.com

Urban Art Collective Saturday Themed Markets Discover unique treasures at the Antique & Vintage Market. Free entry.
When: Saturday, Aug 3, 12pm-5pm
Where: 1088 Somerset St. W, Ottawa

Sunday

Salsa Sundays Join this free weekly dance class led by instructors from the University of Ottawa’s Salsa Club. No partner is needed, and the instructors will have you dancing with Latin flair in no time! Every Sunday from June 9 to September 1, 3pm to 5pm at George Street Plaza, 55 Byward Market Square.

Zumba on the Hill Get your groove on at Parliament Hill with certified Zumba instructors. This lively Zumba Party is free to attend. Sundays from 4pm to 5:15pm. Location: Parliament Hill. Details: Zumba on the Hill Facebook

Lansdowne Market Explore over 75 vendors offering a variety of local produce, baked goods, crafts, hot meals, and more. Pets are welcome. Every Sunday from 9am to 3pm at the Aberdeen Pavilion, 1000 Exhibition Way, Ottawa.

Monday

Bring the Kids! Enjoy a classic and chamber music recital at the National Arts Centre, designed to keep kids engaged with short attention spans. Free admission. Monday, August 5 at 12pm. Location: 1 Elgin Street, Ottawa, ON K1P.

Meet & Greet with Sesame Street Meet Elmo, Abby, and the Cookie Monster at Tanger Outlet. Enjoy face painting, games, and treats with your little ones. Free event. Monday, August 5 from 11am to 3pm. Location: 8555 Campeau Drive, Ottawa.

Source: Ottawaisnotboring.com

First-time buyers of new construction homes in Canada can now access longer mortgage amortization periods.

Effective August 1st, 2024, lenders can offer 30-year amortizations for insured mortgages to first-time homebuyers of new construction homes, following a modification by the federal government. Previously, the maximum amortization for an insured mortgage—one requiring mortgage insurance due to a down payment of less than 20%—was 25 years. Homes priced at $1 million or more automatically require a 20% down payment and an uninsured mortgage loan.

The federal government states that extending payments over an additional five years will help lower monthly mortgage payments, making housing costs more affordable for young Canadians and incentivizing the construction of much-needed housing supply.
“For every young Canadian who wants to own a home, we want them to qualify for a mortgage and afford their first home. One of the biggest hurdles to homeownership for younger Canadians is qualifying for a mortgage and managing the monthly payments,” said Chrystia Freeland, Deputy Prime Minister and Minister of Finance, in a press release. “That is why, starting August 1, first-time buyers of new builds will be able to reduce their monthly payments with up to 30-year mortgages. This is just one of many new measures our government is implementing to make homeownership a reality for younger Canadians.”

What do I need to qualify for a new build 30-year amortization?
If you’re a first-time buyer shopping for a new construction home and plan to take out a 30-year mortgage, here are some requirements to keep in mind:

• At least one borrower on the application must be a first-time homebuyer, meaning they have never purchased a home before and have not occupied a home as a principal residence that they or their current spouse or common-law partner have owned in the last four years.
• The home being purchased must be newly constructed, meaning it has not been previously occupied for residential purposes.
• Only high-ratio mortgages will be applicable—mortgages where the loan amount exceeds 80% of the home price (i.e., has a down payment of less than 20%).
• All other eligibility criteria for government-guaranteed mortgage insurance will still apply.

Thirty-year amortizations for insured new build mortgages were first announced in the 2024 federal budget, alongside other affordable housing measures.

Source: Royal LePage Team Realty