Guelph Real Estate Advice: Decision Making in a Seller's Market

Decision-Making in a Seller's Market

Not everyone in the process of buying and selling real estate is doing it for the same reason. As a result, Guelph Realtor Hudson Smith has some advice to share that could be helpful in making the right real estate decisions no matter what your motivation may be.

“In the current real estate cli mate, it can feel like we’re in a never-ending seller’s market,” said Smith, head of a team of Guelph realtors at the Hudson Smith Real Estate Group. “With so many different types of buyers and sellers in the market right now, it’s important to follow good advice to ensure you’re achieving your real estate objectives.”

ADVICE FOR FIRST TIME BUYERS

“My advice to first time buyers, whether it’s someone on their own or a couple looking to purchase, is this – get into the market any way you can,” said Smith. “Whether that means buying a one-bedroom condo or a house with an accessory unit to help support the cost of living and price of ownership. I’ve watched fear of downturns and market bubbles hold too many people back year after year.” Smith said that the time you invest in owning a property is much more important than the timing that determines when you buy.


“Don’t overlook the power of time and the impact it has on the amount of money you have invested. Know what you can afford, but try to get into the market. If you can only afford $1,500 a month for housing but the house you want is $3,000 a month, explore purchasing a duplex where a tenant can help make up the difference between what you can afford and what you owe. I wouldn’t use fear as a reason not to get into this market. If you’re unsure exactly how to find this, an excellent agent can help you. Getting into the market is always the biggest and most important step.”


ADVICE FOR BUYERS LOOKING TO UPGRADE TO A BETTER PROPERTY

Hudson has one primary piece of advice for people looking to climb the property ladder through an upgraded purchase. “It’s very important to be patient,” he said. “Don’t feel like you have to settle.” 


Smith said that while it’s important to check all the boxes on the things you want in a property, it’s more important to access the elements at the heart of a smart real estate purchase.


“Always buy the things you can’t change,” said Hudson.


“Look for the right lot size, the square footage of the house, a double car garage. Don’t buy a house for the new kitchen or the finished basement. Buy the things you can’t add yourself or that will be too expensive or time consuming to add later. You can’t change the lot size, but you can always change the glass shower, the hardwood flooring or the bar in the basement.”


ADVICE FOR SELLERS LOOKING TO DOWNSIZE

Smith says people looking to downsize are in a tricky situation, because many times such property owners are tempted to get out of the market altogether and instead choose a smaller rental.


That’s not a wise move according to Hudson. “My advice is to try to stay anchored in the market,” he said. “Don’t overlook the importance of one of the best opportunities to build wealth-tax free in home ownership, no matter where you are or in what stage of life you are at.”


ADVICE FOR PEOPLE LOOKING FOR INVESTMENT PROPERTY

In today’s market, buyers are willing to buy any property regardless of whether it can help them generate income.


Smith says the key to buying property for investment purposes is to identify ways the property can be adapted to generate revenue. “For instance, you can buy a house and add a secondary suite,” said Smith. “With Guelph’s new laws you can build carriage houses with top floor apartments.”


“Look at ways you can put capital into your property and create cash flow on your own.”

Top Spots for Tobogganing in Guelph

February 19, 2025
Guelph is a fantastic place to enjoy outdoor winter activities, and tobogganing is one of the best ways to embrace the snowy season. Whether you’re looking for a gentle slope for the kids or a thrilling ride down a steep hill, Guelph has plenty of great options. Here are some of the top spots for tobogganing in the area:  1. Exhibition Park One of the most popular tobogganing spots in Guelph, Exhibition Park offers a great hill with a moderate incline, making it ideal for families and younger children. The park is centrally located and has plenty of space for winter fun. 2. Mollison Park Located in the city’s west end, Mollison Park features a well-known sledding hill that offers a good mix of fun and safety. The hill isn’t too steep, making it a great choice for all ages. 3. Kortright Hills Park For those looking for a longer ride, Kortright Hills Park has a fantastic slope that provides a smooth and enjoyable run. The park’s natural setting makes it a beautiful spot for winter recreation. 4. MacAlister Park Another family-friendly location, MacAlister Park has a gentle slope perfect for younger children who are just learning to enjoy the thrill of tobogganing. It’s a quieter location, making it a great place for a relaxed outing. 5. Riverside Park This popular Guelph park has a designated tobogganing area that attracts sledders from all over the city. The varied terrain provides options for both beginner and more experienced riders, making it a great all-around choice. Safety Tips for Tobogganing Always wear a helmet, especially for young children. Ensure the hill is free of obstacles, such as trees and rocks. Sled during daylight hours or in well-lit areas. Dress warmly and wear appropriate winter gear. Supervise children at all times for a safe and fun experience. These top tobogganing spots in Guelph offer a range of experiences for sledders of all ages. So grab your sled, bundle up, and enjoy the winter season in one of Guelph’s best tobogganing locations!

The Potential Impact of Tariffs on Guelph's Real Estate Market

February 19, 2025
With discussions surrounding potential tariffs on Canadian imports, stakeholders in Guelph’s real estate market are evaluating the possible consequences. If implemented, these tariffs could significantly affect housing costs, development projects, and market dynamics in Guelph and the surrounding areas. Possible Increase in Construction Costs One of the most immediate impacts of tariffs would be rising costs for construction materials such as lumber, steel, and aluminum. Since a large portion of these materials is imported from the U.S., tariffs could lead to price hikes, ultimately increasing the cost of building new homes. If material prices rise, builders may pass those costs onto buyers, potentially adding thousands of dollars to home prices. Industry experts predict that if tariffs are introduced, the additional cost per single-family home could range from $10,000 to $25,000. Potential for Higher Mortgage Rates Economic uncertainty caused by tariffs could influence the Bank of Canada’s interest rate policies. If inflation rises due to increased costs on imported goods, the central bank may opt to raise interest rates to curb inflation. Higher interest rates would directly affect mortgage rates, making borrowing more expensive for homebuyers in Guelph. With rising mortgage costs, buyer affordability could take a hit, leading to reduced demand and a slower real estate market. Those looking to purchase a home may need to reconsider their budgets or lock in rates before any potential hikes occur. Possible Slowdown in New Developments Developers in Guelph may hesitate to launch new housing projects if tariffs increase construction costs. A more expensive development process could lead to project delays or cancellations, tightening housing supply in an already competitive market. If fewer homes are built, demand for existing properties could rise, potentially driving up home prices. This would further strain affordability for first-time homebuyers and those looking to enter the market. Housing Market Uncertainty Even before any tariffs are imposed, the uncertainty surrounding trade policies can impact market confidence. Buyers and investors may adopt a wait-and-see approach, slowing down transactions and cooling off market activity. Conversely, if there is speculation that tariffs will push prices higher in the future, some buyers may rush to secure homes before the impact takes effect. This could create short-term market volatility, with a potential surge in demand followed by a slowdown. How Buyers, Sellers, and Developers Can Prepare Homebuyers : Consider securing mortgage pre-approvals early to lock in favorable interest rates before any potential hikes. If tariffs are implemented, it could make homeownership more expensive in the long run. Sellers : Monitor market trends closely. If tariffs lead to increased costs and reduced affordability, selling sooner rather than later might be advantageous. Developers : Explore cost-efficient alternatives for sourcing materials and streamline construction processes to mitigate potential price increases.  Conclusion While tariffs have not yet been imposed, their potential implementation could bring significant changes to Guelph’s real estate landscape. Rising construction costs, potential mortgage rate hikes, and a slowdown in new developments could all impact affordability and market stability. Buyers, sellers, and industry professionals should stay informed and prepared to adapt to possible changes in the housing market.

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