Why Is the Real Estate Market So Busy?

Why is the real estate marketing so busy?

Think about it, if I locked you in a room with the same food for a month, what is the first thing you would do when you got out?
Eat the same thing? Of course not; you would want something totally different – or at least hot sauce? As I struggle through a bad metaphor, I think you get it. Through COVID-19, people were forced to isolate themselves as much as they could where they lived, and aside from anyone affected economically, people decided to make some changes!

I made a Facebook post awhile ago when I was isolating my own family, mentioning that if you hadn’t booked a pool company yet, you’d better, because people who had this goal and procrastinated would be doing it.

Guess what, I was bang on.
I have no crystal ball, but as any family would through COVID, we identified everything we would like to change about our home. We even crunched numbers on buying something else even though we love where we are. Maybe a farm to spread out more, or renovate a farmhouse with a cool addition, build new on a piece of land… give ourselves more room outside.

I have always loved the investment side of real estate and wrote more than enough articles about the value of your principal investment and the great tax advantage that comes by making money through it.

But this time of self-isolation was compounded. We were home everyday, all day. Don’t get me wrong, we also appreciated the things we had during our “lockdown”. We have great neighbours who we talked to from a distance (and spent a good deal of time getting the kids to buy into the distancing thing). We appreciated that we had a pool, and have used it more than ever before.


There is a shift going on, and as life gets to this new normal, real estate is a big part of it

Renters are becoming owners, condo owners may be looking for something with a backyard, and some people with backyards are putting pools in them or moving to houses with pools or with enough space to put a pool in. People without elbow room want more. I see it the other way, too.


As much as I thought I had it all right with people wanting to change aspects of their homes through this, I thought cottages and vacation properties would be tougher sells. I couldn’t have been more wrong!

Traveling abroad may not even be on a person’s radar right now, but driving to one of Ontario’s amazing beaches, campgrounds or even to Northern Ontario might now top the list. I am a sucker for the rock, tree, and water combo myself. Some people are starting to save for, or beginning to buy places they can drive to, and enjoying all the toys that go with it! 


My family and I were fortunate enough to purchas our own little cozy cottage paradise last year, and it sure has been a nice option and change of scenery for us, especially with the lack of kid’s activities going on right now. Driving up there recently, my wife Amy, caught me in a RARE moment of an impulse buy… sure, we’ve talked and dreamed of it before, but this stretch of gorgeous weather had us talking Jetski’s, and we pulled into the first marina we saw to tease ourselves a little. SOLD OUT! Everything was sold. They still had a few tubes left to pull behind the machines, but the machines to pull them were gone. And all the kijiji ads for used Jetski’s I had looked at in weeks prior had turned into wanted ads.

This type of denial and unavailability of items wasn’t new to us either, since during the early parts of COVID we saw all the things we wanted to entertain ourselves at home sell out first.

Workout equipment, dollar blades for kids, even kids golf memberships sold out as local courses opened up. And let’s not all forget the toilet paper shortage in March!


What am I rambling about?! Well, I guess I’m getting to this. I think Canada, Ontario, and Guelph (as I know it best), are doing great. I’m sensitive to anyone experiencing difficulty through this chapter, and wish everyone well, but I’m also proud how we Canadians have adapted, lived for the moments we’ve had, and as the gorgeous weather has arrived people are going for it. Whether it’s finally getting into home ownership or buying that cottage they’ve always dreamed of. Families are spending more time together and that is a great thing. Boy, I miss my kids sports, but being able to fish with them more has been a blessing.


Although things are different right now, it could also be great for our fine province too.

Sure, people will travel again, but I can guarantee more people are camping, cottaging, golfing, fishing and hosting bbq’s by their new pool in their bubble of 10 a lot more. 


I hope everyone is doing something they love this summer, and if you are going after your real estate goals, feel good about it. It’s never been more important. And if you do come across a used Jetski, how about a heads up?


Stay safe everyone, and never hesitate to reach out for a chat.

 


-Hudson Smith


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!
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.
By Hudson Smith December 18, 2024
Skating Rinks in Guelph
See More Posts
Share by: