The housing market in the GTA is experiencing a record boom, interest rates are low and according to the Canadian Mortgage and Housing Corporation (CMHC), starts have increased as much as 46% since 2014. Demand persists for rentals in the GTA and detached province-wide, while experts assert that the current market will persist throughout 2016. More than ever, purchasing a home might just be the biggest investment the average consumer will ever make.
When you pay for something in installments, like a mortgage, it can be easy to forget the full value in favour of the small increments. To put it in perspective, the average Ontarian couple brings in $84,480 per year, while the average home hovers around $450,000. That home price is the equivalent of two people contributing 100% of their salary for a little over five years. This is an investment of time and money that you can’t afford to cut any corners on, particularly when it comes to the most important aspects of a home, such as its exterior cladding.
Everyone has a personal checklist for what to look for when purchasing a new home. The latest consumer preference study by Redfern Research indicates that 79% of Ontarians prioritize bathrooms and kitchens when house hunting, but the smart consumer should think beyond customizable fixtures. Among eight building problems tested, the study cited heating costs, noise infiltration and mould as the most common. These issues could be greatly minimized with the purchase of a home made with resilient and durable materials.
When committing to any major purchase it is important to know the difference between ‘affordable’ and ‘inexpensive’; an affordable home will maintain your investment, while an inexpensive home will cost you in maintenance and low resale. Ontario consumers time and again prefer the resilient choice which offers strength over time and performs far superior to other cladding types. When considering your next home ask yourself: which home will offer safety, peace of mind and a timeless look?
Protect your investment. Choose a masonry home. The Consumers Choice:
• 91% of Ontarians prefer an exterior made of brick or stone
• 82% of Ontarians agree masonry is more durable in extreme weather
• 81% of Ontarians agree that masonry cladding is the most fire resistant
• 85% of Ontarians agree that masonry is the best material to prevent termites and other pests