Find out the true cost of your Barrie Home before you sign

Home Maintenance
There are certain aspects of owning a  home in Barrie that require regular maintenance. These include the heating and cooling system, the plumbing of the home, drainage, painting the exterior and the interior and too many more to mention.
Homeowners often forget to clear drainage pipes, which easily leads to blockages and leaks. Dryer vents can very easily lead to fires if they are not property cleaned and maintained. Maintaining the grounds and the garden should also be considered. You may need to purchase a lawn mower or outsource this work on a regular basis.
Home Improvements
You may need to make improvements to the home to meet your specific style and design preferences. This can involve painting the house, changing the flooring, adding an addition, etc. You’ll want to constantly improve your home both for the aesthetic appearance and to raise the value of your home with each passing year.
To avoid running into high maintenance and renovation costs, here are some of the things you need to watch for.
Windows and doors. – Check the seals on your windows and doors routinely to prevent water from getting into the house. Water can ruin your finishes and furniture.
Carry out repairs of minor issues before they develop any further. – Check bathrooms and toilets for any defects. Repair small cracks on walls before they get any worse.
Remember, even a new house needs regular maintenance. -  While the issues of a new house are less, always carry out regular checks and repair things as soon as you notice a problem. Do not make the assumption that the new house is perfect and does not require any maintenance.

Owning a home in Barrie or anywhere else involves a lot of costs down the road. Make sure that your budget is set up to not only handle your mortgage payments but the true costs of home ownership as a whole.

List all your debts

When you are making a budget and you need to list all your debts, your mortgage gets put down as part of the debts. When it is time to list your investments it may not be added. Why? Is it purely mindset that makes us think of a mortgage as a debt?

The glass is half full or half empty in this case. You can consider your mortgage as a heavy load to bear and have to struggle to make the payments every month or you can look at it as the best investment you’ll ever make and try to make extra payments to strengthen your investment.

“I don’t want to go into debt” is one of the common phrases you may hear from people that are still renting. Yet they are fine putting money into low rate savings accounts that don’t have the same ROI as the Barrie housing industry. Real estate may take a few bumps and bruises along the way, but it always bounces back if you wait out the storm.

Consider this. If the person that rents were to take that rent money and the money put into a savings account and add them together, that would probably cover the mortgage payments. Take on a debt? It’s all in how you view it. It is a long-term investment that is certain to pay off down the road.

Real estate is an investment – not something that can be compared to a new dress put on a credit card. That dress is a debt because it will depreciate over time while Barrie real estate is a tangible investment in something solid that will develop into a huge cash advantage down the road.

Is your home mortgage really a debt? It all depends on how you look at the glass – half full or half empty.

Take a Closer Look at this Home:

 

Are you thinking of purchasing a Barrie investment property?

Privately owned homes

This is a single-family residence occupying an independently owned piece of land. This type of property is highly valued because of the amount of space and level of privacy it offers. The negative side of this property is the fact that the house may remain unoccupied and available for rent for a long period of time because of its high value.

There is also a bigger chance that this Barrie property can depreciate in value due to negligence from the residents. The property manager also has to provide regular maintenance, which can be costly if the unit has a high vacancy rate and high carrying costs.

Condominiums

Between Barrie’s waterfront condos, downtown condos and condos around the Royal Victoria Hospital and Georgian College area, you won’t have a shortage of selection if you are interested in purchasing this type of investment property. Condominiums have units that are built in a complex. The condos themselves are independently owned but other parts of the complex like roads, gardens, swimming pools and playgrounds are held in common for all the residences in the complex. Agreements and bylaws are set in place to govern the conduct of the residents.

When condos are well managed, the value of each unit goes up and vice versa. The maintenance of Barrie condos usually tend to be good, due to the joint ownership of the shared facilities. A condo is valued lower than a privately owned home, all things being relatively equal.

Multi-family properties

These properties have individual houses that are located within a single building. Examples of these are apartments, duplexes and triplexes. Multifamily housing has the advantage of having different residents so the sources of income are diverse compared to condominiums and privately owned homes. It would be a rare occurrence to have all the units in a multifamily property unoccupied at the same time, which means that the owner is always guaranteed income every month.

You should consider the pros and cons of each type of residential investment property in Barrie before deciding on the type you’d like to invest in. They can all offer some great cash flow and extra income for many years to come.

If you are considering purchasing an investment property in the city of Barrie and would like some advice,  The Hocking Homes Team would love to help you make your decisions easier and can offer some great insight to help you way your options to ensure that you make the right choice. Contact us at 705-252-7939

5 level back split home for sale in Barrie's south-west end

privacy lattice, perfect for summer BBQ’s. On the same level, there is an office area with its own separate entrance. The fully finished lower levels offer 2 additional family gathering spaces, laundry room with built-in storage and a fourth private bedroom. The attached single car garage is complete with custom built overhead storage and offers inside entry. This unique home awaits the perfect growing family!

To book a personal showing of this home contact the Hocking Homes Team 705-252-7939

Take a closer look!

“The Right Barrie Neighbourhood Or The Right House?”

That is the Question….at least when you are in the middle of a new home search it is.

Sometimes it can happen that you find the perfect house in a desirable Barrie neighbourhood that just doesn’t fit your lifestyle. The other thing that can occur is you find the right neighbourhood but simply can’t find a house you like in it. What do you do if you do find the right house but you don’t like the neighbourhood?

The right house

You’re probably going to be living in this house for many years to come so you want it to be everything you’d expect. You may have walked into the home and fallen head over heels in love with the gourmet kitchen, hardwood flooring, extra large private backyard etc., only to find out that the neighbourhood is less than desirable. This can be a dilemma, especially if you have been searching for awhile and are looking forward to settling down in a new home.

The right neighbourhood

You may have an idea of exactly what you’re looking for in a neighbourhood and have found one that suits all your needs. Perhaps it is near Barrie’s popular shopping amenities such as Georgian Mall or Park Place, a church you frequent,  close to your work, would be a safe haven for your children, near your children’s school etc. If you can’t find the right house, do you compromise and pick a house that isn’t just right?

Whenever you have one of these problems the first thing you should do is get loaded with information. Find out everything you can about the neighborhood so that you can make a more informed decision. You should check for things such as crime rates, the condition of the other homes nearby and on the street, street traffic, what amenities are or are not in the area and anything else that makes this Barrie neighbourhood less desirable than others.

Once you have done this you will need to make notes on paper so that you can see the exact situation as it is. In many cases, simply by writing down the facts you’ll be able to make a decision. There are both good points and bad points to settling for a house or settling for a neighbourhood and you are going to have to decide what the most important factors are to you, the pros & cons if you will.
There are all types of things you should be looking at when you are caught in such a dilemma. Of course, this only applies if you need to purchase a home right away and can’t wait to find the perfect house in the perfect Barrie neighbourhood.

Ian and Caroline of the Hocking Homes Team will also have a solid viewpoint based on what other clients have faced and how they were able to deal with it. They are very familiar with the Barrie and surrounding area and can provide great insight on which neighbourhoods would suite yours and your families needs in order to find you not only the perfect home, but the perfect neighbourhood as well.

Contact The Hocking Homes Team to find out more information on Barrie’s most desirable and sought after neighbourhoods and to start your new home search today. 705-252-7939

Immaculate Firstview built detached home, located on a
quiet cul-de-sac in Barrie’s south-west, just south of Ardagh Road. Open concept main floor living space with 9ft ceilings and is decorated in warm modern tones. The spotless eat-in kitchen comes complete with stainless appliances and has a convenient pass-through into the separate dining area. The family room is laid with laminate flooring and has french pocket doors opening into the sunken living room, which also features a gas fireplace. The upper level offers a very spacious L-shaped master bedroom with a relaxing sitting area and large walk-in closet. A 3 piece ensuite bathroom and 2 additional bedrooms and 3 piece family bathroom complete the home. All in all, an attractive family home in an ideal location.

To book a personal showing of this home contact the Hocking Homes Team 705-252-7939

Take a closer look!

This home is situated in upscale Rosemont Heights on one of the nicest lots you will probably see. A total of just over an acre, the home backs onto a ravine with a stream running along the edge. Modern meets cottage all in the same place, it doesn’t come this way very often. Internally the home is well laid out and offers lots of natural light with its south facing rear yard and large windows and patio doors. The home also benefits from 3 good sized bedrooms above grade and with 4 levels this home just goes on and on and on. This home has two full bathrooms although one needs to be finished off. There is a main floor living area and a rec room basement with patio doors and a wood fireplace for those cozy winter evenings. Some TLC required to make this home your own.

Contact the Hocking Homes Team to book your private showing 705-252-7939.

Take a closer look!

This newly renovated side-split home shows pride of ownership with refinished hardwood floors, an extremely well made designer kitchen, and finished rec room that includes a wood burning fireplace. Offering over 1,500 sq ft of finished living space, this home features 3 bedrooms, 2 bathrooms and a fantastic garage conversion that now provides part storage area and part family rec room. The eat-in kitchen is the perfect gathering place for friends and family with excellent cabinet space, tile backsplash and tiled countertops. The bright living room benefits from a large bay window with a view of the front yard and the wonderful rear yard is fully fenced and includes an over sized deck and unistone patio, as well as flower borders.

To book your private showing, please contact the Hocking Homes Team at 705-252-7939

Take a closer look!

Meticulously Landscaped Ranch Bungalow in Rural Essa. 

If you are looking for a picturesque setting to live and work, then you must take a drive out to view this stunning property. This Luxury 3+2 bedroom all stone ranch bungalow nestled on  1.6 acre lot with a forest backdrop, yet only minutes from Barrie and its amenities. Totaling nearly 4,000 sqft this home has it all. The open concept living space makes for easy entertaining and social family time. The gourmet kitchen includes a centre island, breakfast area and gleaming granite countertops and is open to the dining and living area with gas fireplace and double french doors leading onto the rear deck. The master bedroom comes complete with a 4 pc en-suite featuring a corner jet tub and oversized separate walk-in glass shower. Two additional bedrooms and bathroom complete the main floor. Over the garage, you will find a bonus loft space full of potential. The fully finished basement offers a good sized rec room, bedroom plus a 1 bedroom, 1 bath in-law suite with 2nd kitchen with separate entrances and its own private deck.  Externally there is a large rear deck overlooking the meticulous landscaping. At the rear of the property a 1,100sqft approx detached workshop offers double overhead doors and plenty of storage space, enabling you to live, work and play in this gorgeous setting.

To book a private showing contact the Hocking Homes Team at 705-252-7939.

In the meantime, take a closer look at this gorgeous property: