Posted by Maryann Quenet on Wednesday, January 1st, 2025 11:14am.
A fresh calendar year feels like a new page, offering a chance to set goals that can improve many aspects of our lives. For people living in the Greater Toronto Area (GTA), these goals might be related to taking care of a home, saving money, or finding better ways to live comfortably in a fast-growing region. Whether you recently bought your first home, or you have lived in the same house for years, setting resolutions for the year ahead can help keep your property in great shape and your finances on track. These resolutions can also bring peace of mind and help you prepare for any changes that might come in the future. Keep reading for some helpful tips you can use to start the new year with a clear plan for your home.
Taking care of a property requires ongoing attention, especially in the GTA where we experience four distinct seasons. A structured home maintenance schedule can keep your house in good condition. It also helps you avoid expensive repairs that might pop up if you ignore little problems for too long.
Prevents costly damage: Finding small issues early on can save you thousands of dollars later.
Increases property value: A well-maintained home looks better to potential buyers if you decide to sell.
Ensures safety: Regular checks can help you spot hazards, like loose steps or faulty wiring.
Monthly tasks: Check your heating and cooling system’s air filters, clean kitchen and bathroom drains, and inspect smoke and carbon monoxide detectors.
Seasonal checks: Prepare for major weather changes in spring, summer, fall, and winter. For example, in the spring, clean gutters and ensure your sump pump is working. In the fall, clear away leaves from gutters and downspouts to prevent ice buildup.
Annual projects: Schedule professional inspections for your roof, furnace, and air conditioning system once a year to keep them running well.
Homeowners in the GTA often juggle many financial responsibilities. Property taxes, utility bills, and mortgage payments can be overwhelming if not managed properly. A new year is an ideal time to review your budget and look for ways to save money.
Staying on track: Unexpected home expenses can throw off your savings plan, so it’s essential to review your finances regularly.
Reducing debt: Paying off high-interest debts first can free up more money for home improvements or for fun activities.
Preparing for the future: If you plan to sell or move, a healthy budget will help with closing costs, moving expenses, and unexpected fees.
Compare mortgage rates: Toronto’s real estate market can be competitive, so shop around for the best mortgage or refinance option. Even a small difference in interest rates can result in big savings over time.
Track spending: Use an app or spreadsheet to record your expenses. This helps you see where your money is going.
Set clear goals: Whether you’re saving up for a renovation or building an emergency fund, knowing your goals can keep you motivated.
Harsh winters and hot summers in the GTA can put a strain on your heating and cooling systems. Improving your home’s energy efficiency is a win-win, helping both your wallet and the environment.
Lower utility bills: Efficient windows, doors, and insulation can help reduce energy usage.
Eco-friendly lifestyle: Reducing power consumption is good for the planet and future generations.
Potential rebates: The government offers rebates for certain energy-efficient renovations.
Seal windows and doors: Check for any gaps that might let cold or hot air in, and use weatherstripping to seal them.
Update appliances: Look for Energy Star–rated appliances if you’re replacing an old fridge, stove, or laundry set.
Use a smart thermostat: Set a schedule so your home adjusts the temperature automatically when you’re away or sleeping.
Improve insulation: Adding more insulation in the attic or basement can help keep your house warmer in winter and cooler in summer.
Sometimes, you don’t need a costly renovation to make your home feel new again. A few simple updates can go a long way toward brightening your rooms and making them more comfortable.
Boosts your mood: A fresh coat of paint or new décor can make your home feel happier and more inviting.
Prepares your home for sale: If you plan to sell your property in the near future, small changes can make it stand out to potential buyers.
Saves money: Instead of a major renovation, small updates can still add value without breaking the bank.
Repaint: Choose neutral colours, such as soft greys or warm beiges, to create a calm atmosphere.
Swap out light fixtures: Modern fixtures can make a space look more stylish without costing a fortune.
Add plants: A bit of greenery can brighten up any room and improve air quality.
Declutter: Sometimes, the best transformation comes from simply getting rid of things you no longer need.
Living in the GTA means facing snowy winters, rainy springs, hot summers, and unpredictable weather patterns in between. Preparing your home for extreme weather can safeguard both your property and your family.
Protects against water damage: Heavy rainfall can flood basements or weaken foundations.
Preserves your property’s value: Taking steps to weatherproof your home helps maintain its condition over time.
Improves comfort: Proper insulation and weather-stripping keep cold drafts out and reduce the strain on your furnace.
Clean eavestroughs and downspouts: This helps direct water away from your home.
Install a sump pump: If you have a basement, a sump pump can protect against flooding.
Check the roof: Look for damaged shingles or leaks that might cause problems in storms.
Trim trees: Overgrown branches can break off in high winds and damage your house or power lines.
If you have a growing family, or you simply want more living space, the new year might be the perfect time to plan a renovation or expansion. Building up or out can add value to your home and improve your everyday life.
Increases property value: Adding square footage often makes a home more appealing to buyers.
Improves functionality: You can create an office, playroom, or guest suite to suit your needs.
Avoids the cost of moving: If you love your neighbourhood, renovating can be cheaper than buying a larger home.
Set a budget: Work out how much you can spend, and include a bit extra for any unexpected costs.
Get the right permits: In the GTA, you’ll likely need permits for major changes to your home. Check local regulations before starting any work.
Hire reputable contractors: Read reviews, ask for quotes, and compare services to ensure you pick the right team.
Think about return on investment (ROI): Upgrading kitchens, bathrooms, or creating additional bedrooms often brings the best payoff in resale value.
Many GTA homeowners will eventually face a decision: Stay and improve the current property, or look for a new one. The new year is a good time to reflect on your long-term plans, especially if you sense a change might happen.
Keeps you prepared: Knowing if you plan to sell in the next few years helps you decide what repairs or updates are truly necessary.
Helps you find the right time to move: Staying aware of market trends can help you figure out the best time to buy or sell.
Lets you save accordingly: Moving costs, real estate fees, and new home expenses add up. Setting aside money early can reduce stress.
Think about your five-year plan: Do you see yourself staying put or possibly relocating to a different part of the GTA?
Research market conditions: Track average home prices in your neighbourhood, along with mortgage rates and other factors that may affect your decision.
Speak with a real estate professional: Experienced agents, like the ones on The Johnson Team, can offer valuable insights into how the market is changing.
There is no better time than the start of a new year to take stock of your home and plan for future changes or improvements. Whether you begin with simple tasks like sealing drafty windows or tackle bigger projects like renovating a kitchen, these resolutions can keep your property in top shape and help you reach your financial goals. Having a solid plan in place also makes it easier to decide whether you want to stay, improve, or move to a new place in the Greater Toronto Area.
If you have questions about your home’s value, or you’re ready to buy or sell real estate in the GTA, The Johnson Team is here to guide you every step of the way. Known for their strong reputation, market knowledge, and creative marketing strategies, The Johnson Team has helped many homeowners and buyers find success in Toronto’s fast-paced market. If you would like to start working with an agent right away, please don’t hesitate to contact us. Whether you’re a first-time buyer or a seasoned seller, partnering with a trusted team of professionals can make all the difference in achieving your real estate goals. Let’s make this new year one of positive changes and exciting opportunities.