K-W Real Estate Market Update

Please don't hesitate to reach out for detailed stats that are specific to your neighbourhood, or even if you're just curious about what the house down the street sold for. It'd be great to hear from you!

Bank of Canada Rate Update

The Bank of Canada reduces its policy rate by 25 basis points.

The Bank of Canada has reduced its overnight rate by 25 basis points to 2.75%, citing ongoing economic uncertainty driven by trade tensions and slowing global growth.

While inflation remains close to the 2% target, concerns about weakening consumer confidence and business investment have led policymakers to ease borrowing costs further.

For the real estate market, this rate cut could provide a boost, as lower interest rates typically lead to reduced mortgage costs, making homeownership more accessible for buyers.

This could encourage more activity in the housing market, particularly among first-time homebuyers who have been priced out in recent years.

Sellers may also benefit from increased demand, especially in markets where affordability has been a concern.

Recent interest rate cuts have already contributed to stronger economic growth, particularly in consumer spending and housing.

However, the Bank of Canada remains cautious about the impact of global economic uncertainty, including potential tariff changes that could influence inflation and overall market stability.

The next interest rate announcement is scheduled for April 16, 2025, when the Bank will provide a more detailed outlook on the economy and inflation.

In the meantime, homebuyers and sellers can expect borrowing conditions to remain favourable, though market dynamics will continue to be shaped by broader economic factors.

KW Home & Garden Show

It’s time to get a head start on your springtime gardening and renovation plans!

The KW Home & Garden Show is coming to town, which means the beautiful springtime weather we’ve all been waiting for is just around the corner!

This huge annual home and garden event will be taking place between Friday, March 21st and Sunday, March 23rd at the Kitchener Memorial Auditorium, 400 East Avenue.

The KW Home & Garden Show is the perfect opportunity to meet professional designers, staging experts and local suppliers who can help you find out what's hot in home renovation and interior design.

There will also be a team of gardening experts on hand to answer all of your horticultural questions so that you can lay out plans for your garden well in advance.

As winter finally draws to a close, the KW Home & Garden Show will inspire you to get a head start on all of your springtime projects with an array of innovative products and services – all under one roof. Hope to see you there!

A Few Fixture Facts

Specifying which fixtures are included when buying or selling a home is key.

Imagine the excitement as you walk through your new home a few days before closing for your final inspection.

Your joy quickly turns sour though when you discover the antique chandelier you fell in love with is no longer there.

Now, imagine you're the sentimental seller who has already taken down and packed up your cherished antique chandelier, and now you’re faced with an angry buyer who’s demanding that it be put back up.

Unfortunately, this type of scenario plays out all too often. Here are a few points to consider that’ll help save you from falling into a similar scenario:

The Fix Is In
A fixture is an item that is physically attached to the home, such as a ceiling fan or a curtain rod. These items are typically included unless stated otherwise.

Chattel Challenge
A chattel, on the other hand, is an item that can be easily removed without causing physical damage, such as a hanging mirror or a fridge. These items usually aren’t included.

List It or Lose It
Real estate law isn’t always black and white when it comes to fixtures and chattels, so it’s important to make a list of your exclusions ahead of time.

Unattached
It’s best to remove any fixtures that have sentimental value before you put your home on the market. That way, the buyer won’t feel like they’re missing out on anything.

No Rough Edges
There’s usually a bit of damage left behind when a fixture is removed, so let the buyer know you’ll make the necessary repairs to help put their mind at ease.

Chattels and fixtures can often be subjective. To avoid unnecessary confusion and possible legal action, be sure to proactively specify your exclusions as soon as you put your home on the market.

Whether you’re buying or selling, you’ll want a smooth transaction where both parties can move on (or move in) with good vibes!

Foolproof Ways to Babyproof Your Home

Little ones love to explore, so it’s important that you properly prep your home!

The arrival of a new baby brings many responsibilities, one of which is babyproofing your home. Here are a few things to keep in mind when preparing your home for your new little bundle of joy:

Slam Jam
Install door stops and holders so that their fingers don't get caught.

Cabinet Caution
Make sure cabinets and drawers are equipped with safety latches.

Tie Up Loose Ends
Tie up the cords from your blinds and curtains so they’re out of reach.

Don’t Cut Corners
Cover any sharp corners, such as those on coffee tables, with foam padding.

It's No Shock
Cover electrical outlets with safety plugs so they can’t shove keys or other objects into them.

Strong Attachments
Tether shelves and dressers to the wall so they won’t tip over if your little one starts climbing them.

Gate Guardian
Install a baby gate at the top and bottom of your staircase. Make sure they're attached directly to the wall and not just pressure-mounted.

Babies have a natural born need to explore their new surroundings. To help see things from their perspective, get down and crawl around on all fours to identify any potential hazards.

Whatever you do, don’t leave it until the last second. It’s best to babyproof your home before your little one arrives, as it'll be the last thing on your mind when you're a tired new parent.</p

Wondering What Your Home's Worth?

The Kitchener-Waterloo real estate market is constantly changing. If you’re wondering what your home’s currently worth in today’s market, just reach out for a home evaluation. There’s no cost for this service – it’s on the house!