This week on Tour Tuesday, Tom and Morgan toured a first time buyer home on Meyers Creek Road, out toward Bayside, and talked through a change to development charges that could take another $25,000 to $30,000 off the price of a new build.
The house on Meyers Creek Road
This one is an easy recommendation for a first time buyer. It is in good shape as it stands. There is some updating to do, but nothing that stops you moving in and tinkering away at it over time, which is exactly the kind of house that lets you build equity without taking on a project you cannot live in.
Outside there is a separate garage and a yard that is almost fully fenced. The street is quiet enough that it would not worry us either way, but the fencing is a real plus if you have young kids or a dog.
Development charges, and what it could mean for new builds
The bigger news is on the market side. The government has announced funding for smaller communities to help cover development charges and get more new builds moving.
Belleville was quick to get on board with this. Quinte West has been a little slower to jump on it. We are expecting an announcement in September.
If it goes through, a buyer looking at a new build could see a reduction of somewhere around $25,000 to $30,000, and that would be on top of the HST rebate already available. That is a meaningful amount of money on a purchase this size.
The one thing to keep in mind is that the municipalities still have to pass it. We do not see a strong reason for them not to. It helps builders, it gets more people moving and buying, and it is good for the local economy and for the municipalities themselves.
What is on this week
The CNE opens on Friday and runs through to the end of the Labour Day weekend. If you have never been, it is worth the trip. The food alone is an event, and we mean deep fried butter, deep fried Snickers, deep fried pizza, more or less anything that will fit in a fryer. The rides are great and the games are fun, so take the kids, or take a date, or just go.
Closer to home, it is fair season. Stirling Fair wrapped up last Friday. The Tweed Stampede usually lands on the long weekend and there is plenty going on there. Picton and Shannonville are both coming up within the next couple of weeks.
If you have no plans for the long weekend yet, you have options.
The fall market is already starting
Things have been a little quiet, but that is changing. We have been getting a lot of inquiries from people getting their homes ready to sell, which is usually the first sign of the season turning.
If you did not know, fall is our second busiest time of the year. Spring is always the busiest, though this year the spring market was a bit unusual because it trickled well into the summer. We had a couple of quiet weeks after that, but there is some underlying energy building again and we think it is going to be a good fall market.
What are your local picks?
We are always looking for more to feature. If there is a fair, a restaurant, a shop, or an event around Belleville, Quinte West, or the County that you think more people should know about, tell us and we will get out to it.
And if you have been thinking about a move, whether that is buying, selling, or just working out whether the timing makes sense, reach out anytime. We are always happy to talk it through, no pressure either way.