It’s natural to want to own a home rather than rent. You no longer have to stress about monthly rental payments and you’ll gain a place where you can make memories. However, due to the price associated with home ownership, most potential homeowners have to secure a mortgage.

Before the lending company approves the mortgage, you will need to check your credit score, get it pre-approved, and negotiate the best mortgage rate possible. All this can be stressful to a potential homeowner, especially if it’s your first time going through the process.

Homeownership doesn’t have to be stressful. With the right partner by your side, you can have a smooth and hassle-free transition into your new home. I, Jennica George, am an experienced and reputable Realtor and property professional in Regina.

The following are tips that will help you apply for your Regina Mortgage:

Check Your Credit Score

Before signing off on the mortgage, a lender would first assess your past financial dealings through your credit score. The score varies from 300- 900, helping people gauge how credible you are when it comes to your finances.

What they are looking for is a high credit score. Any reputable lending company in Regina will be more than happy to lend money to a potential homeowner with a score of above 600. This is a person who pays their loans on time and is never late on their bill payments.

How do you check for your credit score? There are a few online platforms that you can use. I recommend either TransUnion or Equifax. Check on your online store every few months to ensure that you are on the right path to a good score.

Make a Down Payment

While you are looking for financing, lending companies will ask you to put down some money. This is considered a show of good faith. A down payment is also beneficial in that it reduces the size of the encumbrance and the interest to be paid.

In Regina, there is a general rule of thumb when it comes to the home price and the minimum down payment:

• For houses with a price of less than half a million, you will be required to have 5% as the down payment.
• Houses between $500,000 and a million, 5% down payment for the first half a million, and 10% for the balance.
• You will be asked for a 20% down payment for houses with a price above a million

Have Stable Income/ Employment

A mortgage lending company needs confidence that you are able to make the mortgage repayments on time. The best way to guarantee this is to show them your past employment history and where you are currently employed.

If you are your own employer and have a business running, you might need to show them the books. The mortgage company will be interested to know if you have been profitable in the past few years.

I can help you create the ideal mortgage lending application. I can also offer you tips on what banking and loan institutions look for.

Pay Existing Loans

Compared with other investments or purchases that you will make in your lifetime, few can match up to the price of a house. Therefore, the mortgage company will spread the payments out over several years. You are therefore looking at a long-term loan.

You wouldn’t want to jeopardize the monthly payments of your mortgage. I recommend that you pay off any existing car, school, or personal loans that you may have. Depending on your credit score and other financial factors, some companies might not be willing to approve your application if you have outstanding debts.

That said, you don’t necessarily need to have zero debt to apply. Lending companies acknowledge that this might be impossible for you. However, keep them low and don’t forget to make the payments on time to maintain a good credit score.

Secure Pre-approval of Your Mortgage

A mortgage pre-approval refers to the acceptance of your application by the lending company after an evaluation of your financial capabilities. You will receive a pre-approval letter, dictating the terms of the mortgage. It will contain the amount you are to receive, the length of the mortgage, and the interest rates among other details.

From the pre-approval letter, you will know what type of property to hunt for and what price range you’re working with.

Know the Mortgage Rate

The type and percentage of your mortgage rate will determine the amount you pay every month. With an affordable mortgage rate, you will be able to comfortably pay your mortgage while meeting your other financial obligations.

You might not know how to identify the ideal lending company offering the best mortgage rate. With my experience in the Regina property market, I have the network to help you get the best deal possible.

Assess Your Current and Future Needs

Before making the final decision, I suggest that you comprehensively assess your current and future lifestyle needs. Think about schooling, investment, and other dependents who are looking up to you.

Conclusion

Applying for a mortgage doesn't need to be stressful. If you follow these steps you’ll be in a better position to make your application.

Are you still feeling a little of your depth? There is nothing to worry about there! All you will need is a proven and trusted professional to help you navigate the Regina real estate market.

As a member of the Saskatchewan Realtors Association, I, Jennica George have the dedication and passion to help you move into your new home. Whether you are looking for a single-family residence, condominium, or apartment in the downtown area, I am ready and willing to offer you my real estate knowledge. Let me help ease the stress of home ownership.

Whether you’re seeking to satisfy your cultural curiosity or chasing nature spots, Regina is a city that welcomes both pursuits. As the capital city of Saskatchewan, you’ll never be at a loss for fun activities, especially in summer!

You can explore inspiring art galleries, head to enriching museums, or plan nature trips. A whole list of fantastic experiences in summer awaits you!

Here’s a list of entertaining summer activities you can do in Regina:

1. Go on an Enthralling Adventure at Skypark Regina.

This indoor adventure park beckons those looking for thrills. You can go for a zipline ride, try their aerial ropes course and have fun wall climbing. Whatever the weather outside, you’re sure to have a dose of fun.

Get ready to finish an obstacle course designed 20 feet above the ground. Finish with a zipline ride. If you prefer more solid footing, choose from the different walls to rock-climb.

There are separate areas designated for adults and kids. You can also engage in mini-golf and go-cart races. Younger children can spend time in an indoor playhouse.

2. Captivate Yourself With Exhibits at Science Centre.

If you have free days in summer and your interest is more science-focused, you might want to head to Saskatchewan Science Centre. Fantastic exhibits are displayed at three levels. You can also catch intriguing traveling exhibits.

Find time to drop by the Science of Hockey exhibit and JoyLab. Take charming shots with whimsical backgrounds.

Score a ticket and watch a film on the largest screen in Saskatchewan measuring up to 52 ft in length and 73 ft in width! Schedule your science trip anytime from Wednesday to Sunday.

3. Indulge Your Art Passion at McKenzie Art Gallery

For art lovers with free time during the summer, going to McKenzie Art Gallery to soak in creative arts is highly recommended. With almost 5,000 works of art to explore, boredom will be out of the question.

The gallery is spacious and occupied with traveling exhibits and a permanent collection.

Discover classic and contemporary art where the collection from the University of Regina is also showcased. Here, you can find the Kamplemacher Collection, which is composed of the largest collections of Indigenous artworks in Canada.

Whether your art interest is serious or casual, you’re sure to see striking pieces that will appeal to your imagination and senses.

For guided tours, it’s best to visit the gallery on Saturday afternoons from 1 to 4 PM. If you have children and want them to get a headstart on art appreciation, drop in for “Studio Sundays” from 2 to 4 PM.

The gallery provides workshops aimed at kids that cover drawing, sketching, and creating mixed-media collages.

4. Experience Fun Times at Cedar Creek.

In the summer season, Cedar Creek holds a western-themed mini-golf course. This is a great venue to get your family and friends together.

Enjoy the summer breeze while participating in a fun outdoor activity. After a few rounds, you can even sit by a small lake to unwind.

Cedar Creek presents plenty of engaging activities. You can purchase a bag of sand that contains a mix of stones, shells, and fossils.

You can mimic gold panning, but keep your eyes out for the polished gems and rocks. Shake the sand inside a tray and in the water.

Aside from that, Cedar Creek also keeps animals such as pigs, little ponies, and goats that you can check out.

Another interesting feature is the eight-acre corn maze where you can explore and have fun. They conceptualize a different theme each year.

5. Watch A Movie at a Drive-in Theater.

For a laidback activity on a summer evening, you can bring your car and park at the drive-in movie theater. As old-school as it sounds, you are sure to enjoy yourself!

Relax in the comfort of your own car, and bring some snacks to enjoy the show!

An hour away from Regina is Twilite Drive-In Theater. Operating for over 65 years, it shows movies on Thursday to Sunday nights. Bringing a tent or RV is permitted. This saves you driving time when you’re too tired to head home.

Make sure to bring cash since this is the medium of payment they accept.

Another Drive-in theater situated 15 minutes from the city is Moonlight Movies. They play movies rain or shine, so if you have a free evening in the summer, make sure to catch a show!

6. Relax at Regina Beach

What’s summer without a beach getaway? Make your way to Regina Beach to catch some waves and get a natural tan. Refresh with a swim and reenergize with some food from a variety of restaurants.

Situated on Last Mountain Lakeshores, Regina Beach is a local favorite. It has a long stretch of sand where one can play volleyball or play in an inflatable water playground.

If fishing is more appealing to you, there’s also a dock where you can station yourself.

Driving to Regina Beach town, you’ll see plenty of restaurants and boutiques. Diverse food is available, whether you’d like to sample or indulge.

The best thing about planning a Regina Beach escapade is free entrance! You also don’t have to pay for parking, so head out early during the summer days before the crowd hits the beach.

7. Explore the Government House

Constructed in 1891, the Government House was the official residence for the Lieutenant-Governor. It has since been converted into a charming museum with galleries.

Go on a picnic in summer and find a spot in the magnificent Edwardian Gardens. They are separated into different outdoor categories filled with tulips and roses.

Schedule a tour of the outer gardens or the inner museum. They’re available each hour for free.

Bottom Line

As you can see, Regina is a active city that offers a lot of adventures for visitors and residents. I hope this blog has helped you realize that Regina is a great place to call home. If you're considering moving to Regina, let me help you find your dream property.
Contact me today and I'll help find the best fit for you!

The process of leasing or renting your home is hinged on how your ‘market’ your property to prospective clients. A great way to present your property in its best light is through staging. You should know that properties spend less time on the market if the staging is done right. But how is one to go about the process?

My name is Jennica George, and I’m an experienced and dedicated realtor with a passion for interior design. I am aware that many property owners do not have the experience or industry knowledge to handle the staging process. It can even be taxing and overwhelming.

In this article, I will be educating Regina property owners on the most trendy design layouts that they can implement throughout the year 2022!

The Importance of Staging Your Property

A successful staging job will leave potential buyers excited to live in the space. They’ll be able to envision their lives on the property making them more willing to place an offer. To achieve this, you need to be in tune with the needs and preferences of buyers in the market and also have a good network of suppliers and contractors in the region.

Looking for an interior design expert? There is no better professional in the industry. I charge my services at competitive market prices, making my services affordable across all budgets. Get in touch with me today!

The End of an Era: Open Floor Plans

There was a time when open floor plans were all the rage in the city. To match up to the needs of the market and the populace, developers, investors, and homeowners renovated spaces to accommodate their buyers. Does this mean that an open floor plan home is at a disadvantage during the property showcase?

Not necessarily, here is where my expertise in property and interior design comes in. You don’t have to make costly renovations to your home in such a short time. I can work with temporary dividers to give the illusion of separate rooms. You will be surprised at what difference a simple addition can bring to a space.

The reason why the open floor plan is out of favor can be attributed in part to the Covid-19 pandemic. More households are in need of using the finite space for several purposes for instance needing a work-from-home office or study room for the kids.

Maximalism

In my experience in the Regina market, more property owners are now interested in creating a unique space that matches up to their tastes and preferences. How does that work when you will be selling your house? Consider implementing ‘Maximalism’. With this design style, you can make one-of-a-kind spaces that buyers are looking for.

I can help you create a unique space full of texture, color, and unique fittings that any prospects would want in their homes. Doing this gives your space more character and helps it stand out from other homes on the market.

The Dark Kitchen

The current kitchen design has moved away from bright and light kitchens. Similar to the trend described above, the current pool of renters is looking for a space with more ambiance and character.

These types of settings draw in a prospective clients, making them envision how they will be hosting guests. With how much time people spend in kitchens, it’s natural to want it to be a statement piece in the home. Buyers won’t find these “wow-factor” elements in bright and all-white or beige kitchens.

Multi-purpose Rooms

This 2022 trend is all about how one can introduce new elements to a space. With more people working from home it’s important to maximize the use of various rooms. For instance, maybe you want to turn your dining room into a home office during the day but don't want it to look obvious during video calls.

To appeal to clients, what I do during the staging is incorporate small interior décor fittings that can easily transform a space. I can add elements to a wall in the dining room that can serve as the perfect backdrop for a zoom meeting. This way someone won’t have to feel embarrassed by having the background of their meetings be a bed or wardrobe.

In Touch with Nature

People are starting to embrace warmer tones and colour palettes found in nature. This means incorporating more deep browns and greens into your decor and paints. Not only does this help people bring elements of the outdoors inside, but it also makes the home feel warmer and more inviting.

You can also achieve the aesthetic by adding in a few plants or artwork of natural landscapes thus mimicking the outdoor elements.

Conclusion

Feeling challenged to implement one or a combination of these trends in your Regina home this year? The advice described above has been tested and proven and will reduce the time your property spends on the market. However, to implement the above, you might need an expert both in real estate and design.

I, Jennica George, am the property specialist to call upon! I am a realtor with industry knowledge and training in interior design. You can rely on me to transform your home and secure a buyer.

Call me today and set up an appointment!

Are you looking to sell your home but don’t know where to start? Selling a home can be a daunting process. There are many things to consider in order to get it ready for market. Arguably one of the most important steps is staging your home.

Many first-time sellers think that in order to effectively stage their homes, they have to invest in significant changes and upgrades. Thankfully, this isn’t the case! There are plenty of ways to stage the property without breaking the bank.

If you want to learn how to stage your home on a budget, keep on reading!

Why Staging Your is so Important

Staging is done to make the property appeal to a wide range of prospects. The beauty of staging a property, however, is that it’s meant to be subtle. You don't want the design elements to distract from the overall appeal of the property.

Staging plays a vital role in the marketing process when selling your home. You want to ensure that the home looks welcoming and fresh in the listing photos and during property showings.

Remember that when someone is looking to buy a home, they’re focusing on more than just the structural integrity of the property. Buyers want to feel confident and comfortable with their purchase. They also want to see that once they buy it, there will be little need for renovations and updates.

When staging is done right, you’ll generate more interest from buyers.

Budget-Friendly Staging Tips

Keep it Simple

The first thing to note is that you want to keep the space, simple and fresh. When people come to property showings, the goal is to have them envision themselves living there. In order to do this, you want to have a design pallet that caters to most peoples taste.

Using light neutral tones that go with most people furniture or personal style will help. This ways people are paying attention to the home as a whole rather than getting caught up on specific design details. With this in mind you can add a fresh coat of paint in a neutral tone to freshen up your walls.

Perform Small Kitchen Updates

The kitchen plays a major role in getting prospects excited to buy a house. That said, kitchen remodels and upgrades can be costly quite fast. The good news is, a little goes a long way when staging a home for sale!

Painting the existing cabinets and/ or changing out the hardware can go a long way to giving your kitchen new life.

Address the Property’s Curb Appeal

The exterior of your home is going to be a prospects first impression of the place. Therefore, take some time to creating an inviting atmosphere. You can achieve this by adding some planters with bright flowers, mowing the lawn and clearing away leaves and weeds.

You can also paint the front door to make it pop more and/ or add a new door knocker or hardware. These small details won't break the bank, but they could play a major role in drawing people into the home and getting them excited about placing an offer on it.

Pay Attention to the Homes Lighting

Staging the property in a way that allows for more natural light will also help create a more inviting atmosphere for buyers. When conducting showings, make sure all the lights are on and curtains are drawn to maximize light.

Make sure you clean light fixtures are replace old or outdated ones. You can also change out the light bulbs to help create a warm but bright feel within the home.

Performa Deep Cleaning Inside and Out

Another simple and inexpensive way to aid in the staging of your home is performing a deep cleaning. Take the time to declutter and thoroughly clean every element of the home both inside and out. Cleaning tasks you can perform to elevate your homes appearance:

• Cleaning the walls
• Shampoo and vacuum the carpets
• Clean the interior and exteriors of the the windows
• Wipes down baseboards
• Scrub tile grout

By investing the time and energy into perform these kind of cleaning tasks, you can save a lot of money while also presenting your home in the best light.

Bottom Line

Staging you home doesn’t have to mean undertaking major remodelling projects or buyer a bunch of new finishings. Small, but calculated efforts can go a long way in presenting your home in the best light possible.

If you would like help staging your home then I, Jennica George can help! I have year of experience helping people buy and sell their homes so I know all the best tips and tricks. What’s more, I have studied design and worked on many construction and design projects.

I have the personal and professional experience necessary to help you achieve your real estate goals. Contact me today to learn more about my services!

As we approach the end of the new year’s first quarter, we can judge how the Regina housing market is performing. Using data from sales and lettings coupled with industry knowledge and expertise, households and investors can make informed decisions based on this data.

In this article, I’m going to break down the performance of the Regina market and offer tips that current and new property owners can use.

Low Inventory

In the years that I’ve been involved in purchasing and selling housing options, the first few months of 2022 have revealed the least opportunities in the property market. Chris Guerette, the CEO of Saskatchewan’s Realtors Association, echoes my experience. The inventory levels, specifically in the month of January, have been the lowest the local market has experienced since 2012.

There are a number of factors that can be blamed for this shortage in housing options, though the main culprit is the Covid-19 pandemic. The pandemic brought most industries to a halt and destabilized the economy.

This phenomenon is not only being experienced in the local market but also in the wider Canadian housing market. If you followed the federal election in 2021, you would remember that this was a major talking point. The pressure on the housing industry could increase even more according to CBC News. The federal government has put policies in place to bring in over a million migrants over the next 3 years.

However, there’s been an improvement as new listings enter the market. This improved supply bodes well for the market as Covid-19 restrictions and measures are eased. Soon, the Regina market will be booming and the new housing options will be easily absorbed.

An Increase in Price

Property has often proved the go-to investment for those looking for an asset that increases in value over time. Regina real estate proved exactly that as prices in January 2022 have risen by a whopping 7% compared to the same month in 2021.

This can be attributed to the increased demand for housing over the past two years. Governments all over the world advised companies to implement work from home measures and remote working. The move led to an increased immigration to the suburbs and for larger spaces by individuals and households.

Work from home measures are still in place and more professionals are considering it as a full-time or part-time switch. In my view, these measures are bound to be in place for a few more years as we learn more about the pandemic and manage it better.

An increase in sale price was also evidenced in certain markets in the country. A report compiled by REMAX revealed a property price increase of 2% in Calgary. The market in Muskoka was hotter and recorded double-digit increases in property prices.

As things stand, I project that there will be a further increase in sale price in the year 2022. If you’re looking to invest in real estate, the time is now.

Sales

2021 was a difficult year for most as funds were scarce and savings were probably routed to medical needs. This has also been evidenced at the start of the year as property sales in the month of January have dropped.

In my opinion, it’s only a matter of time until the Regina housing market registers an upward trajectory. Choosing the right real estate agent can help you get ahead of this.

What Should We Expect from the Regina Housing Market in 2022?

We should expect an increase in new property listings. There’s a shortage in the housing market as supply is significantly below demand. I expect that the different players involved on the supply side (property developers, authorities, local and the federal government) will implement policies to balance out the shortage.

We should also expect a possible appreciation in price. With housing stock low, the advantage lies with those who are selling i.e. a seller’s market. They can better dictate terms. Before things even out, there’s bound to be an increase in property value.

The pandemic has scarred a lot of households with the hospitalization and loss of loved ones. Some individuals will take a lot of time to recover from the trauma. As a result, virtual home viewing and buying have become a trend. Consumers are enjoying the experience and convenience that it offers.

One of the platforms which has been at the center of it all is REMAX. The platform brings new listings to potential clients and also offers virtual tours. It is a safe and secure platform that will cement its place in the property industry. You should be aware that I am a REMAX Crown real estate agent.

Who better ease your entry into the market?

The Role of Expert Property Management in Regina's Real Estate Market

While investing in Regina's real estate market is a promising opportunity, the success of your investment often hinges on effective property management. This is where Leenan Properties comes into play, offering top-tier residential property management services that can significantly enhance the value and appeal of your investment.

Why Choose Professional Property Management?

1. Maximizing Your Investment: Professional property management companies like Leenan Properties understand the local market dynamics and can help maximize your rental income while minimizing vacancies. Their expertise in pricing and marketing ensures your property is never undervalued or overlooked.

2. Quality Tenant Acquisition and Retention: Finding the right tenants is crucial. Leenan Properties conducts thorough background checks to ensure reliable and responsible tenants occupy your property. They also focus on tenant retention, which is key to maintaining a steady income stream.

3. Hassle-Free Maintenance and Repairs: Property maintenance can be challenging, especially if you own multiple properties or live far from your rental property. Leenan Properties offers comprehensive maintenance services, ensuring that your property remains in top condition, which is vital for preserving its value and appeal.

4. Legal Compliance and Smooth Operations: Navigating the legal aspects of property rental can be daunting. With their expertise in local property laws, Leenan Properties ensures that your property complies with all regulations, reducing your risk of legal complications.

5. Personalized Attention: Every property and property owner has unique needs. Leenan Properties prides itself on offering personalized services, ensuring that your specific goals and requirements are met, whether you're an experienced investor or new to the property market.

Integrating Property Management into Your Investment Strategy

Incorporating a property management company like Leenan Properties into your investment strategy can be a game-changer. It allows you to enjoy the benefits of property ownership without the day-to-day hassles. Whether you're looking to expand your portfolio or manage your existing properties more efficiently, Leenan Properties offers the expertise and services to help you achieve your real estate goals in Regina's dynamic market.

For more insights on how professional property management can enhance your real estate investment, visit Leenan Properties.

Bottom Line

Are you looking to invest in a multi-family rental in the Regina area? Maybe you are looking to upgrade from a bungalow to a four-bedroomed maisonette in the suburb? You will need the help of a reputable and experienced realtor with local knowledge of the area.

Your friendly neighbourhood real estate agent, Jennica George, is the professional to rely on. I have a passion for the real estate industry and promise dedication, professionalism, and quality in every service that I offer. You can rely on me to make your next real estate journey smooth and free of any encumbrances.

Get in touch with me today and book a free appointment.

“Should I rent or buy a home?” – This is a common question on many people’s minds! And rightly so, it’s a major decision that can have a major impact on both your lifestyle and financial health.

Many people see property ownership as an investment vehicle that can help them build equity and allow them to benefit from tax savings. But renting has its advantages as well. Among other things, renting provides one with much needed flexibility and freedom.

Currently, Canada is predominantly a nation of homeowners. According to the latest statistics, around 68% of Canadians own homes while the rest live in rented premises.

So, which option is best for you? Should you rent or buy a home? To make the right decision, the following are the pros and cons of each option.

Pros of Buying a Home

1. Price Appreciation

Generally speaking, home values increase over time. For example, in Canada, the housing market has had an average annual appreciation rate of around 6.11% according to a study done by Reviewlution.ca.

2. Stable Housing Costs

Buying a home comes with a bevy of expenses, including down payments and closing costs. Also, as a Regina homeowner, there are plenty of maintenance costs to think about as well.

Luckily, homeownership costs tend to be consistent especially with a fixed-rate loan. Even in case the insurance rates and property taxes increase, your mortgage payments will remain relatively the same year to year.

3. Equity

Equity is simply the portion of the home that you actually own. It’s calculated by subtracting the mortgage loan balance from the value of the property. You build equity every time you make a mortgage payment.

This isn’t the same case with renting a home. As a renter, you won’t be able to recoup any money you paid as rent.

4. Ready Cash

This is another advantage of buying a home rather than renting. By owning a home, you’re able to tap into your equity to help pay off personal debt or fund home improvements.

5. Tax Advantages

The Canadian government offers several credits and tax breaks for homeowners to take advantage of. For example, if you’re a first time home buyer, you may qualify for the First-Time Home Buyers’ Tax Credit (HBTC) of $5,000.

6. Freedom to Personalize

Owning a home allows you to take complete control over any projects you may want to take on. As long as the projects follow all local laws, you’re free to personalize your home to your liking.

7. Stability

When renting a home, your landlord may at some point decide to terminate your lease or fail to renew it when the time comes. Moving is one of life’s most stressful events. In addition, it’s also expensive and inconveniencing.

On the other hand, owning a home comes with stability and peace of mind. As the owner, you call the shots and that is priceless.

Cons of Buying a Home

1. High Upfront Costs

Upfront costs of buying a home in Regina include a down payment, mortgage lender fees, HOA fees, and escrow fees.

2. Maintenance & Repair

You’ll need to set aside anywhere between 1- and 3% of your home’s purchase price annually for maintenance and repairs.

3. Property Taxes

The property tax rate in Regina is around 1.030228%. And besides the property tax, you’ll also be required to pay for other fees, as well. Including, HOA fees and utility fees.

4. Less Flexibility

Unlike renting, owning a home doesn’t provide you the flexibility to move if you’d like a change of pace.

Pros of Renting a Home

1. Flexibility

When you rent, you have the freedom to live in lots of different areas.

2. No Downpayment

The only ‘down payment’ you may probably have to put down is a security deposit. That said, it’s refundable at the end of the tenancy as long as you abide by the terms of the agreement.

3. Might be Cheaper

This may be true at least in the short-term and is relative based on your rental and where you live. But generally speaking, renting is usually cheaper than owning a home.

4. Less Maintenance Responsibilities

While you may be responsible for some maintenance tasks, you won’t be on the hook for major ones. The responsibility to maintain a property to certain health and safety standards is your landlord’s.

Cons of Owning a Home

1. Zero Tax Benefits

There are no tax breaks associated with renting a home.

2. Restrictions

Most landlords have restrictions on things like smoking, subletting, and even whether you can keep a pet or not. You also won't have full creative freedom to personalize the space, at least not in the same way a homeowner would.

3. Rents Can Increase

Landlords in Regina have the right to increase rent in accordance with the terms of the lease.

4. No Permanence

Really, there is no guarantee of permanence when it comes to renting a home. While it’s possible to rent a home for decades, there’s a strong likelihood that you’ll have to leave at some point.

5. No Equity

There is no way to build equity when renting a property. Yes, it’ll be your home/ place of residence, however, it won’t be your asset.

6. Zero Returns

No matter how long you rent, you won’t benefit from any appreciation in the value of the property.

Which Option is Best for You?

Clearly, each option has its own set of pros and cons. If you’re the kind of person that travels a lot – whether for business or for pleasure – then renting can be a good option to consider.

But for people looking to set down roots, buying a home is a no-brainer. It can help you build long-term wealth, as well as enable you to make many exciting decisions, from renovations to landscaping to furniture selection.

If you would like help buying or selling your home hire the service of a licensed realtor. I, Jennica George, am ready to help you achieve your real estate buying and selling goals!

Staging your home before listing it is key. That’s because it’ll make your home shine in comparison to others online.

The goal of staging a home is to help highlight the most impressive assets your home has. If you do it right, you’ll be able to attract a large pool of prospective buyers and therefore sell your home relatively quickly. It can also help drive up the price of your home if prospective buyers find themselves in a bidding war.

Best of all, staging a home isn’t necessarily a costly affair. The following tips should get you started.

1. Get Rid of Personal Details

You want a prospective buyer to visualize the home as their own. As such, and as hard as that may seem, you need to depersonalize the house to sell it.

While this step can be difficult and emotional, it’s in your best interest. Some personal items that you may need to pack away while showing the home include family photos, accent walls, busy wallpaper, and personal collections.

You’ll also want to keep clothes out of sight and keep the bathroom countertops clear.

2. Focus on Specific Rooms

When it comes to staging, not all rooms are created equal. Some have more potential when it comes to influencing buyers’ decisions than others.

According to a report by the National Association of Realtors, the kitchen, master bedroom, and the living room are the most important in the eyes of most buyers. Therefore, these are the rooms you’ll want to focus your staging efforts on.

Rooms with less influence include bathrooms, children’s bedrooms, and guest bedrooms. If you have the time and budget to stage these you may do so, but they don’t need to be your top priority.

3. De-clutter Rooms

Space is what sells, and clutter makes spaces look and feel smaller. Remember, less is more when selling a home!

De-cluttering the space will open up the room and make your home more appealing to prospects. Of course, this doesn’t mean you’re required to everything from the space, but you should try packing them away during the staging phase.

The following are some spots you’d want to focus your decluttering efforts on:

• Tidy up any play areas
• Hide computer cords and other wires and clear off your desk in the home office
• Beautify the bathroom
• Organize the closets
• Curate what is in the kitchen

4. Make a Good First Impression

The first impression matters. The front entrance is the first space prospective buyers will see when they walk up to your house.

Do you have a front stoop? If so, scrubbing off any dirt, or even power washing it can go a long way in the eyes of potential buyers. You may also want to add a simple doormat to help add a touch of hominess. A potted plant or two may also provide some added curb appeal.

If the outside is well-maintained, prospective buyers will be more excited to see what else the home has to offer.

5. Use Neutral Tones

This tip can make a world of difference in determining the price of the home and the amount of time your listing stays on the market.

Although bright colors help people personalize their homes, they can be a turn-off for prospective home buyers. So, when listing your home for sale, consider using a neutral color pallet. Examples of neutral colors include taupe, white, and gray.

You want to make it easy for the next owners to put their touches on the home.

6. Make the Place Look Nice

This seems obvious but it goes a long way when selling a home. You can begin by going room to room removing any scuffs from walls and floors. Next, you’ll want to patch up any holes, scratches, and tiny cracks you may find.

Ask yourself if the paint looks chipped? If so, consider doing some paint touch-ups. A fresh coat of paint can do wonders in brightening up a room.

7. Deep Clean the Home

Go all out when cleaning the space, leave no space untouched! From the corners of your ceiling to the baseboards and everywhere in between, make every square inch shine.

When planning your cleaning checklist, focus on areas that potential buyers are most interested in. These include the bathroom, kitchen, dining room, and living room. Then during the cleaning, follow the top-to-bottom, left-to-right rule for cleaning each room. This will ensure that no surface is overlooked.

Besides cleaning the rooms, make sure all appliances are spotless.

8. Improve Your Home’s Lighting

Dark spaces aren’t enticing to potential buyers. Brighten up the rooms by allowing as much light inside the house as possible. You should turn on all the lights in the home, including closet lights and lamps, for showings.

You’ll also want to open all the curtains to let in more light and if your yard has some problem areas, you may keep the blinds down but open up the slats to bring in some natural slight.

By letting in more light you make the rooms appear more spacious.

9. Freshen Up the Home

Make your home feel fresh and inviting by including a few potted plants. If you have a lot of plants, space them out so they don’t overwhelm a specific area of the home and get rid of dead or dying plants.

10. Hire a Professional Realtor

Want to get the best price for your home and be taken seriously by sellers’ agents? Consider hiring a real estate agent as opposed to selling your home yourself.

Jennica George is an experienced realtor with a passion for interior design. Her services all come with the same promise of quality, dedication, and professionalism.

Summary:

There you have it, 10 tips on how to stage your home. The goal of staging a home is to appeal to as many potential buyers as possible. Best of all, the more potential buyers are willing to submit their offers, the higher the price your home will sell for.

For more information, contact Jennica George today!

Are you looking to buy a home in Regina, SK? If you are, then you may be wondering where the best neighbourhoods are. Rest assured that you’ll have plenty of amazing areas to choose from, it all just depends on the kind of home and lifestyle you’re hoping for.

There are several things to consider before you begin your search for your forever home. The first thing to consider is the size and style of the home. The next step is to set your budget including buying and closing, and renovation costs. Finally, you need to consider your lifestyle. Ask yourself:

• Do I want to be close to work?
• Do I want to live near good schools?
• Is having access to community centres and outdoor spaces important to me?
• Do I want to be near downtown for easy access to restaurants and shops?

Once you’ve considered all these factors you’ll be able to speak to a licensed realtor who will help your nail down the perfect location!

That being said, here is a list of some of the best areas in Regina to help you get started.

Central Regina Neighbourhoods

Central Regina offers many older homes with plenty of character and charm. Many of the streets are lined with beautiful, mature trees and the area is near Wascana Lake & the bike path, offering lots of opportunities to enjoy the outdoors.

Lakeview

Lakeview is a cozy community that has been attracting many families over the years. This is in part due to its proximity to many amazing parks, schools, and community gardens. This neighbourhood features many pre and post-war-style homes.

River Heights

River Heights is another excellent Regina neighbourhood to live in. If you’re looking for a quiet area to settle down in this is the place for you! Real estate in the area mostly consists of comfortably sized single, detached houses.

This is also a great option for families because of its proximity to the Neil Balkwill Civic Arts Centre which offers plenty of activities and classes for children and adults. The neighbourhood is also near the inviting Kiwanis Park.

South Regina Neighbourhoods

South Regina is home to many family-orientated neighbourhoods. You can find a range of styles from mid-sized bungalows to large homes on quiet bays.

Albert Park

This is a very popular option in Regina due to its proximity to many amenities and good-quality schools. You’ll be able to find small apartment buildings and detached single homes in the area. Residents can enjoy shopping at the Southland Shopping Center which includes a movie theatre or spend the day at the local community center. The area is also home to a number of restaurants, cafés, and local shops, giving locals plenty of things to do on their days off.

Whitmore Park

If you’re looking to settle down in a more relax and laid-back area, Whitmore Park is a great neighbourhood! Residents can enjoy quiet streets and access to several incredible parks.

Many homes in the areas were built in the 1960s and 1970’s giving the Regina neighbourhood a lot of charm. You’ll be able to choose from split-level and two-storey homes and bungalows. There are also apartments and condominiums available making a perfect place for young professionals, students, and families to live.

East Regina Neighbourhoods

The area of Regina is home to many fantastic parks, walking paths, and bike paths making it a great area for the outdoor enthusiast.

Varsity Park

This is a wonderful neighbourhood to live in with many of the homes being build in the 1980s. The homes in Varsity Park are often reverted for their craftsmanship and style. There are many two-storey split homes and bungalows with an average of 3 to 6 bedrooms to choose from, making a great area for growing families.

Emerald Park

Buyers are often attracted to the area for its large lots and privacy. You’ll have your pick of two-storey split levels, two-storey homes, and bungalows if you buy in the area. Many homes were built in the 1980s however you’ll also find new builds popping up in the area.

Residents will be able to enjoy the extensive bike and walking paths, an ice skating arena, a golf course, and a soccer pitch. There are also two schools in the areas making it a wonderful community for families to settle in.

Summary

Regina offers residents plenty of outdoor spaces, cultural amenities, restaurants, and shops. What’s more, if you move to any of the neighbourhoods mentioned in this piece, you’ll be able to enjoy quiet comfort in well-sized homes.

If you’re looking for a realtor to help you buy or sell your Regina home contact Jennica George today!

Home appraisals are key in certain real estate transactions like when buying or selling a home or during mortgage refinancing. Appraisals are used to determine whether a home’s sales price is appropriate given its features, location, and condition.

Lenders, for example, use an appraisal to ensure they aren’t handing the borrower more money than their home’s worth.

The following is everything you need to know when it comes to the home appraisal process in Regina’s housing market.

Three Property Valuation Approaches

In Saskatchewan, three property valuation approaches are used to determine the value of a home. They are the cost approach, sales comparison approach, and property income approach.

• Cost approach - This approach values a property based on its replacement cost, less depreciation, factoring land values based on recent sales. The approach is especially useful in situations such as when the comparable sales are few or when there is no information on rental income and expense.
• Property income approach - This one values a property based on the potential rental income. The appraiser will take into account both the rental expenses and the potential income to estimate the property value.
• Sales comparison approach - This approach works well in areas with active sales markets, like residential property situated in a metropolis.

“Ad Valorem” Mass Appraisal System

The appraisal system in Regina, SK is based on “ad valorem.” Ad Valorem simply means “according to value.” According to this appraisal system, the amount of tax payable by a property owner must be proportional to their property value.

The accepted standard for property assessment in North America is based on market value. Mass appraisal valuation represents the patterns in supply and demand for a group of properties in a market instead of a single property.

For maximum accuracy of the final assessed values, appraisers will also factor in other crucial data. Including, prevailing property values, rental income information, and using the valuation approach to estimate the best value for various property types.

The Appraisal Report

Once the appraisal has been done, the appraiser will write a report of their findings. The following are a couple of things the appraiser will include in their report:

• A street map showing the property that has been appraised.
• Comparable sales that they used to arrive at the property’s value.
• The sketch of the exterior building.
• Some calculations on how they calculated a home’s square value.
• Some photos of the back, front, and street scene of the home.
• Photos of comparable homes used.
• Other important information, such as public tax records, public land records, and market sales data.

Other things a home appraisal will look at include the housing market, neighbourhood, appliances, basement, and attic features, and even the home’s age. To get the highest appraisal, make sure your house is rent-ready and staged.

What a Home Buyer Should Know About Appraisals

Are you looking to buy a home in Regina? If you are, then an appraisal will be one of the initial steps in the closing process, especially if you’re buying a home under contract.

As a buyer, the appraisal process gives you an upper hand. If the appraisal value is low, it can be a negotiating tool for you to convince the seller to lower the asking price. After all, your bank won’t lend you more than what the home is worth.

That being said, a seller may feel reluctant to lower the sale price because they may feel the appraisal value was inaccurate. In such a case, it may be best for both of you to consider getting another appraisal from a different professional, as it isn’t uncommon for appraisers to make mistakes.

What a Home Seller Should Know About Appraisals

When selling your Regina home, a low appraisal can seem like a deal-breaker. After all, it may mean selling your home lower than you had anticipated.

Certain factors can be responsible for a low appraisal value. They are as follows:

Market Conditions

A home appraiser will go beyond just beyond looking at similar properties. They will also examine other things such as vacancy rates, foreclosure rates, and forecasts on demand and supply.

Renovations

Have you overly personalized your home? If you have, then that can have an impact on your home’s valuation. Your taste may not be everybody’s taste.

Home Size

Of course, how big or small your home is will have an impact on the appraisal value. Besides the square footage, the number of bathrooms and bedrooms will also impact the appraisal.

Deferred Maintenance

Deferred maintenance is arguably one of the factors that reduces a home’s appraisal value. A roof leak that may have cost you a few hundred dollars to fix a year ago can end up resulting in thousands of dollars of repair costs.

When this comes to the attention of the appraiser, the appraisal value will certainly go down. So, before having an appraiser go through your home, make sure all maintenance issues have been taken care of.

Home Location

Location is an important factor when it comes to an appraisal assessment. Of course, it wouldn’t make sense to compare a home in Rosemont with one in Germantown. Appraisers will consider things like the quality of roads, proximity to schools, neighbourhood amenities, and how near the home is to the street.

Curb Appeal

The phrase “Don’t judge a book by its cover” doesn’t apply when it comes to homes. An appraiser will judge how your Regina home looks from the street because that’s one of the factors potential buyers will consider. It’s a fact that an attractive home will attract more interest on the market.

How Long Does a Home Appraisal Take?

On average, expect a home appraisal to take anywhere between 7 to 10 days. The appraiser will visit your property and spend an hour or two inspecting its exterior and interior.

Bottom Line

Except in a case involving an all-cash buyer, a home appraisal is a must whether buying/selling a home or refinancing your existing mortgage. Having a basic understanding of how the appraisal process works can only work in your favour.

If you’re still unsure how to navigate appraisals, get in touch with me, Jennica George. I’m an experienced realtor in the Regina, Emerald Park/ White City and, Lumsden areas that can help you with any of your property brokerage needs.

When sellers think of hosting an open house, they may think of strangers walking through every room of their house and the costs incurred in the preparation of the event. They can often forget the many benefits that come with an open house.

In a competitive property market such as Regina, an open house is a tried and tested method of generating needed visibility for your property. In this article, I, Jennica George, offer my take on the benefits of hosting an open house.

The Benefits of Hosting an Open House

Set Your Property Apart

While creating an appealing online listing for your properties, complete with photos is an important step in the marketing process, it doesn’t allow people to fully envision themselves living in the space.

From my experience as a realtor and interior designer in Regina, an open house is a perfect opportunity to convince the prospective buyer that your property is their new home. The idea behind a professional property showing is to allow prospective buyers to get a better idea of what they could do with the property if it were theirs.

If you are worried about the time and effort required to host an open house, you can leave it up to me. I have the experience and resources to implement a professional staging and I’ll be by your side through the entire selling process.

Breaks Down the Tension

Having an open house allows prospects to see the space in real-time and it allows them to ask any questions they may have about the property. Being able to address their concerns head-on helps them feel more secure when deciding to make an offer. Getting an appraisal for your home is also a good idea.

I can offer tours of the property, highlighting the standout features and amenities, and answer questions. Before the day of the open house, I will conduct several walked through the home to familiarize myself with the layout and the various amenities.

An open house also allows prospects to see how much interest there is in the property. This allows them to assess what kind of offer to place.

Calm First Time Buyers

The home buying process can be a daunting experience for a first-time buyer. They don’t know where to start and at times, would like clarification on certain details. By attending the open house, not only can they envision themselves living there, they can learn more about the buying process.

As your property partner, I’ll make sure to guide them through how the process works. You can rest easy knowing that your prospective buyers are in the most capable hands in Regina.

Meet and Greet Opportunity

Have you built up a good rapport with your neighbours? This is the perfect time to have them swing by. You can ask them to introduce themselves to a few ‘serious’ buyers. The introduction will work wonders. Your neighbours can sell the neighbourhood better since potential buyers will be more inclined to take their word.

If you have great neighbours, it’s only a matter of time for the potential buyers to become excited with the idea of living next door to them too.

Save on Marketing Costs

The costs of marketing and property showings are a common concern for many property owners. However, a solid investment in the market can reap wonderful rewards. With an open house, you can forego having individual showings that typically involve calling up a professional cleaning service and incurring the cost of utilities.

To guarantee a high attendance on the day of the showing, proper advertising of the open house is necessary. Many buyers make use of brokerage websites and social media platforms to search for property deals in an area. Some of the websites that I use to advertise my Regina properties include Kijiji, Realtor.ca as well as Instagram, Facebook ads, and Twitter.

Speaking of high attendance, I advise my clients to schedule their open houses on the weekend. Your potential buyers are likely people who have jobs and tight schedules during the week. It’s only on the weekend that they have the time to go looking for a home.

Potential for Free Advertising

Speaking of neighbours, they could offer free advertising and marketing of your property. Your neighbours will be concerned about your departure and would only want a neighbour as good as you. Your neighbours will likely know of someone looking to buy a house so they can help with getting the word out there too.

Show Off Neighbourhood Amenities

A property is only as good as the neighbourhood it’s in. People want to know that the community they’re setting up roots in is safe, comfortable, and filled with opportunity.

An open house is a perfect opportunity to sell the locational benefits of your property. I include printed takeaways that contain information on the top schools, transportation routes, and highly rated eateries and establishments in the area.

If prospects are excited about living in the area, there’s a better chance that they’ll put an offer in on the house.

Conclusion

Holding an open house comes with many benefits to sellers. It’s an opportunity for people to envision themselves living in the home, learn more about the neighbourhood and ask questions about the property and buying process.

Serving areas in and around Regina as well as Emerald Park/ White City and Lumsden, I, Jennica George am an experienced realtor that you can call upon for property brokerage services.

Get in touch with me today and book an appointment. We can discuss your need over a cup of tea or coffee!

Are you looking to buy a home in the near future? Or, do you currently own a home and simply want to learn more about how property tax works in Regina? Whatever the reason, if you’re looking to buy a property, you need to understand the associated taxes.

Recently, property owners in Regina have witnessed a rapid increase in property taxes. In 2018 alone, property taxes shot up by 4.5 percent. And while property tax is applicable on all types of real estate, the specific amounts vary depending on certain criteria, including location and assessment value.

But is there a chance that you could be overpaying your taxes? Or, could you be eligible for a tax abatement? Well, let’s find out! The following is everything you need to know about property tax in Regina.

Expensive Properties are Subject to Higher Taxes

As already mentioned, property taxes will vary based on various factors. One such factor is assessment. This means that a more expensive property will have higher property taxes. This is based specifically on the city of Regina’s assessment.

An example of this would be a property valued at $269,900 in Rosemont. This property will have taxes of $2,637 every year. On the other hand, a homeowner in Lakewood Addition will need to pay about $6,000 in property taxes every year.

You Can Challenge the City’s Assessment

The assessment on your property should always be lower than your home’s value. It should never at any point be above it.

No standard difference exists between market value and the assessed value. So, if the city has done an assessment that exceeds the home’s selling price, you should fight the assessment. In such a case, you’d need to request that the city of Regina conduct a reassessment of your property taxes for that year.

Check to See if You Qualify for a Tax Abatement

Are you building on an infill lot? If you are, chances are that you qualify for a tax abatement. Regina encourages improvements in older neighborhoods and will approve a certain number of infill properties every year.

So, if you’re building an infill, you may be eligible for a 5-year tax exemption. The application for the exemption can be made once you have acquired the building permit and before the occupancy limit has been issued.

Improvements to Your Regina Home Will Attract More Taxes

Are you considering adding a deck to your property? Or, are you currently finishing the basement area of your property? You should know that those ongoing improvements will increase the value of your home. And remember that the higher the value of the property the higher the property taxes.

There are several reasons this makes pulling permits for improvements so crucial to the city. First and foremost, they require permits in order to ensure that any improvements being done meet the code. And secondly, to ensure that they are able to keep track of properties for tax reassessment purposes.

You Could Qualify for a Tax Incentive Program

Plenty of condos are available in Regina and some are even offered with a 5-year tax abatement program. Some home builders like Porchlight Developments offer a tax incentive program. You should check with them to see if you qualify.

Tax Payment Options

There are a variety of options when it comes to the payment of taxes. Such options include paying your taxes in full or paying them through a monthly payment plan called a Tax Installment Payment Plan Service (TIPPS).

If you choose to pay them in full, then you must do so by June 30th by any of the following three ways. You can do it online, in person at City Hall, or by mail. Please note that you cannot pay your property taxes using a credit card.

If you choose to pay using TIPPS, then you’ll have to do so in 12 monthly installments. You can enrol in the payment plan at any time. If you choose to do so for the following year, then ensure you have paid off your account balance by December 15th.

Please note that all payments you make using the Tax Installment Payment Plan Service are non-refundable.

Updating a Property Tax Account

The City of Regina gets an owner’s mailing address when you registered with the Information Services Corporation. You have two options when it comes to updating your mailing address. You can do so online via eProperty, or by filling out a form to change your mailing address and send it to the city.

The other requirement when updating a property tax account has to do with your school tax declaration. This is a declaration of faith. It applies to all properties under your name. You can do so online, or by completing an individual or organization declaration form and mailing it to the city.

Under The Education Act, if you don’t complete the school tax declaration with the city, you’ll be deemed to be a taxpayer of the public school system.

Property Tax Penalties

Outstanding balances after the tax deadline will attract a late fee penalty of 1.50%. However, if you participate in the TIIPS program, no penalties will apply.

If you fail to pay your property taxes after December 31, your property will be in arrears. Consequently, you’ll be penalized at 1.75 percent per month. What’s more, the address of your property, as well as the outstanding amount, will be included in a Leader-Post advert of accounts with tax arrears. This will be done in accordance with the Tax Enforcement Act.

If your account is still in arrears by April of the following year, a tax lien will be registered by the City of Regina. The city will then have authority, under the Tax Enforcement Act, to pursue taking your property’s title.

Tax Exemptions

Non-profit organizations are exempt from the payment of taxes. To qualify, non-profit organizations must comply with all the requirements under the City’s Community Non-Profit Tax Exemption Policy.

Summary

As a property owner or soon-to-be owner, it’s important that you familiarize yourself with property tax rules and exemptions.

If you have a specific question in regards to property tax in Regina get in touch with Jennica George right away. I’m an experienced realtor that can make your real estate experience a walk in the park!

The sales and prices of real estate across the country are surging.

Unsurprisingly large urban centers like Toronto, Montreal, and Vancouver are behind the push. However, recently trends have changed due to the effects of the Covid-19 pandemic and low interest rates. The combination of these two factors has resulted in a surge in demand in more rural places and small towns and cities across the country.

Admittedly, the national averages on housing prices can be misleading at times. You may get caught up in those numbers and think that all markets across the nation are properly represented by that value. However, this isn’t always the case.

The truth of the matter is that some smaller markets are be doing quite well despite what the national averages might suggest. Take Saskatchewan, for instance. The province usually tends to be an outlier in regards to national figures.

However, even with its number presenting below the average price of houses in surrounding provinces, Saskatchewan continues to post remarkable figures.

Below, we’ll look at Regina’s housing market and how it fares in comparison to other markets.

A Look into Regina’s Housing Market

Admittedly, the real estate market in Saskatchewan isn’t quite as steep as other parts of the country. Be that as it may, it’s still heating up. Regina, in particular, has seen a surge in residential sales since the start of the year.

According to the Saskatchewan Realtors Association (SRA), real estate sales in Regina soared by up to 70%. Specifically, the market saw an increase in sales from 213 in March of 2020 to 362 in March of 2021.

This is not only a huge increase in a 12-month period for the city of Regina. However, if we look further back we see a 50.2% and 48.7% increase over the 5-year and 10-year average respectively.

What’s more, this growth didn’t stop in March. It continued through to April as home sales in Regina increased even further to 392 during that month. This was an increase of over 172% when compared to the same period last year.

As for the year-to-date sales, they shot up by a whopping 91% compared to the first four months of 2020; surging from 621 units to a staggering 1,186 units.

And with the sales increasing, so did the housing prices. According to the measurements conducted by the MLS Home Price Index (HPI), the price for a single-family home rose by around 8.5% during that period. That is, from $241,300 to $261,800 for a benchmark single-family home.

While this increase isn’t as extreme compared to what other larger markets have experienced it is still quite notable.

You might think that higher prices would have an impact on people’s buying habits. However, even with increasing home prices, demand has managed to remain consistent. This can be chiefly attributed to the volumes of homes being sold, which for Regina more than doubled.

In the period spanning April 2020 and April 2021, the sales volume went up from $43.9 million to $135.0 million, representing a 207.3% increase.

The right equilibrium between market demand and supply is key to keeping housing prices low. The number of active listings in Regina have gone down slightly. Nonetheless, levels remain robust enough to ensure there won’t be any drastic increases in prices in the near future.

But while active listings have fallen slightly, they still represent a 129.8% increase over last year. According to the Saskatchewan Realtor Association, the listings rose to 655 from just 285.

Typically, in Regina, a house will stay on the market for an average of 52 days. But as things stand, a home will now stay for 12 days less on average based on current real estate market trends.

What is Driving Demand for Regina Real Estate?

Currently, those driving up demand in the Regina real estate market are move-up buyers. This is expected to continue through to the end of this year. The most popular property type with move-up buyers is the one-storey detached home.

Typically, young couples make up the largest proportion of first-time home buyers. And this demographic is usually particularly interested in single-detached homes. In Regina, single-detached homes normally cost anywhere between $250,000 and $350,000.

The condominium market in Regina, Saskatchewan is mostly popular with single homebuyers. And although the demand for condos has fallen slightly, other markets appear to be faring well. Families, on the other hand, remain keen on buying homes with more space. But while the supply has been on an upswing, the same cannot be said about the demand.

What Should We Expect Moving Forward?

Experts expect the Regina real estate market to continue posting positive numbers. This is according to a recent report released by the Canadian Mortgage and Housing Corporation (CMHC) in May 2021.

Summary

There you have it, an overview of Regina’s housing market. If you have more questions, please get in touch with Jennica George. I am an experienced Regina realtor who can help you buy the home you want, in the neighbourhood you want, for the price you want it at.