We are Steven and Louise, Real Estate Brokers serving Cambridge, Kitchener, Waterloo, and the surrounding areas. If you are preparing to move into a home that better suits your lifestyle, congratulations—this is an exciting time. But before you take that next step, selling your current home is essential. The goal for most sellers is to achieve the highest sale price in the shortest amount of time. One of the best ways to do this is through home staging.

Research supports the impact of staging. A study from the Real Estate Staging Association found that staged homes spend 73 percent less time on the market, and staging could help sellers achieve up to 25 percent over the asking price. Well-staged homes highlight their best features, create a strong first impression, and help buyers envision themselves living in the space.

What is Home Staging?

Staging is not about decorating. While decorating reflects personal style, staging is designed to appeal to the broadest range of buyers. It helps potential buyers imagine themselves in the home, whether it is cooking in the kitchen, relaxing in the living room, or unwinding in the primary bedroom. This emotional connection makes a home more desirable.

Tips for Staging Your Home

Buyers looking for a move-in-ready home typically do not want a project. Here are some key ways to stage your home effectively.

1. Focus on key rooms
   The most important areas buyers focus on are the living room, kitchen, primary bedroom, and dining room. If you cannot stage every room, concentrate your efforts on these spaces.

2. Deep clean
   A clean home signals pride of ownership and reassures buyers that the home has been well cared for. Ensure that kitchens and bathrooms are spotless, appliances shine, and every room is free of dust and clutter.

3. Declutter
   Removing excess items makes your home feel more spacious and inviting. Overcrowded spaces can make a home feel small and disorganized. Sort through each room and remove anything that does not need to be on display.

4. Depersonalize the space
   Buyers need to visualize themselves in the home, and personal items can be distracting. Store away family photos, children’s artwork, and unique décor, replacing them with neutral, appealing accents.

5. Incorporate plants
   Live plants can bring warmth and freshness to a home. A few well-placed plants can enhance the space without overwhelming it.

6. Define each room’s purpose
   Buyers want clearly defined spaces. A spare room that doubles as a gym, office, and guest room can be confusing. Instead, showcase each room with a single, intended purpose. If possible, set up a dedicated home office, as many buyers are looking for functional workspaces.

7. Apply a fresh coat of paint
   A simple and cost-effective update, fresh paint can make a home feel bright and modern. Light, neutral colours appeal to the widest range of buyers.

8. Maximize natural light
   Bright, inviting spaces make a strong impression. Open curtains and blinds to let in natural light, and ensure all interior lights are on during showings. If needed, add lamps to brighten darker areas.

9. Keep furniture minimal
   Too much furniture can make a space feel small and crowded. Professional stagers often remove about half of the furniture to create a more open, airy feel. If necessary, consider renting a few modern pieces to enhance the space.

10. Enhance curb appeal
    The exterior of your home is the first thing buyers see. Simple improvements, like power washing the siding, cleaning the gutters, painting the front door, and updating house numbers or the mailbox, can make a big difference.

Staging does not have to be expensive, but the effort put into preparing your home for sale can have a significant impact on both its selling price and how quickly it attracts offers. If you need advice on staging or preparing your home for the market, we are happy to help.

Avoid the cost and chaos of a major renovation and transform your space into a luxurious home with these simple steps. Money may be tight, but you can still live the luxe life.

5 Thrifty Ways to Make Your Home Feel More Luxurious

Clean Off Surfaces

The first step to making a space feel more luxurious is to clear it out. While it may seem counterintuitive to remove things from a space rather than add them, clutter is a killer when trying to create a luxe decor aesthetic. Clearing off countertops, windowsills, shelves, and tabletops opens up sight lines throughout the house, making it the focal point rather than knick-knacks, piles of papers and abandoned crafting projects.

Paint It All White

Keeping the interior paint palette neutral is an easy way to make a home feel more high-end, almost like a gallery. If your walls are a mishmash of trendy shades or four different variations of off-white, it’s time to head to the paint store to stock up on rollers, trays, painters tape and a few gallons of a single hue. While painting the space yourself may seem like a major undertaking, with a bit of careful planning, you’ll save yourself thousands of dollars and still get fabulous results.

Dress The Windows

What covers the windows in a room can have a major effect on the feel of the space as a whole — mismatched blinds, sun-bleached curtains and wonky rods will stick out like a sore thumb. Each room should have a unified window treatment, be it customized chintz drapes or made-to-measure roll blinds from Home Depot, what’s important is that each window has a matching cover. Also, making sure the glass is sparkling clean…dirty windows are a real downer. The more natural light in your home, the more uplifting it’ll feel.

Cover The Floor

From sprawling English manor houses to the sleek penthouses of New York, chances are you’ll spy a Persian kilim rug somewhere in there. Available in every shade, pattern and price point, picking up one of these multicoloured rugs adds instant cache to a cash-strapped space. Not to mention, it covers up cheaper flooring treatments or floorboard imperfections perfectly.

Add Warmth and Texture

If the first stage was to declutter, the last step is to add in super-luxurious materials such as velvet, cashmere and faux fur — and the easiest way to do this is with throw pillows and blankets. Rather than replace your existing set of couch cushions, seek out a new set of velvet covers in a single, rich hue. A faux fur blanket draped over the edge of a worn-out couch creates a cozy vignette. Or tap into the Scandinavian aesthetic and throw sheepskins over everything from bar stools to office chairs.

If you're looking to find your own luxurious home, give us a call

We want to provide you with the newest release of the February 2025 Real Estate Stats for Waterloo Region.

If you want additional stats, we can break these down further for you. Just reach out anytime.

WATERLOO REGION, ON (March 5, 2025) – In February, a total of 363 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 26.1 per cent decrease compared to the same period last year and a decline of 38.8 per cent compared to the average number of homes sold in the previous ten years for the same month.

“While February’s home sales were affected by concerns over tariffs and their potential impact on employment, the market showed some encouraging signs. We saw a steady increase in new listings while prices remained stable,” notes Christal Moura, spokesperson for the Waterloo Region market. “The month’s significant snowfall created practical challenges for buyers and sellers, impacting property viewings and transactions. However, I am seeing positive indicators in the market, with consistent attendance at open houses, pre-listing appointments, steady mortgage pre-approvals, and buyers on the sidelines carefully watching for the right opportunity to make their move.”

Total residential sales in February included 221 detached homes (down 21.9 per cent from February 2024), and 71 townhouses (down 36.0 per cent). Sales also included 47 condominium units (down 35.6 per cent) and 23 semi-detached homes (down 4.2 per cent).

In February, the average sale price for all residential properties in Waterloo Region was $767,800. This represents a 1.3 per cent increase compared to February 2024 and a 1.8 per cent increase compared to January 2025.

• The average price of a detached home was $900,003. This represents a 1.0 per cent increase from February 2024 and an increase of 2.1 per cent compared to January 2025.
• The average sale price for a townhouse was $613,924. This represents a 2.7 per cent decrease from February 2024 and a decrease of 2.6 per cent compared to January 2025.
• The average sale price for an apartment-style condominium was $437,000. This represents a 5.8 per cent decrease from February 2024 and a decrease of 7.2 per cent compared to January 2025.
• The average sale price for a semi was $670,352. This represents a decrease of 0.5 per cent compared to February 2024 and an increase of 6.6 per cent compared to January 2025.

Average Sale Price – Monthly

CORNERSTONE cautions that average sale price information can help establish long-term trends but does not indicate specific properties have increased or decreased in value. The MLS® Home Price Index (HPI) provides the best way to gauge price trends because averages are strongly distorted by changes in the mix of sales activity from one month to the next.

“As we navigate these shifting dynamics in the Waterloo Region housing market, it’s important to remember that while sales may be down, the increase in inventory reflects growing opportunities for buyers,” said Moura.

There were 858 new listings added to the MLS® System in Waterloo Region last month, an increase of 7.3 per cent compared to February last year and a 0.8 per cent increase compared to the previous ten-year average for February.

The total number of homes available for sale in active status at the end of February was 1,450, an increase of 55.7 per cent compared to February of last year and 68.7 per cent above the previous ten-year average of 860 listings for February.

The total inventory across the market increased by 52.9 percent, resulting in a 2.6-month supply of all property types by the end of February. Condominium apartments had the highest inventory, with 5.9 months’ supply, followed by townhouses with 3.6 months’ supply and detached homes with 1.8 months’ supply. The number of months of inventory represents the time it would take to sell off current inventories at the current sales rate.

The average time to sell a home in February was 24 days, compared to 34 days in the previous month. Likewise, in February 2024, it took 24 days for a home to sell, and the five-year average was 15 days.

Cornerstone emphasizes the importance of consulting a local REALTOR® when considering buying or selling property in the Waterloo Region. Their expertise can provide valuable insights into the current market conditions, enabling individuals to make well-informed decisions aligned with their goals and preferences.

View our HPI tool here to learn more: https://www.cornerstone.inc/stats/

Click on any of the graphs below for an interactive view.

Average Sales Price – Municipality

Average Sales Price – Township

Monthly Sales By Property Type

Monthly Supply of Homes for Sale

Monthly Supply of Homes for Sale – By Property Type

Monthly Median Sales Price – By Property Type

Monthly Average Sales Price – By Property Type

Monthly Average Days on Market

Cornerstone Association of REALTORS® cautions that average sale price information can help identify long-term trends but should not be to indicate that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Months Supply is the inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months. Those requiring specific information on property values should contact a Waterloo Region REALTOR®. REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe and what to look for so that you get a complete picture of the property and community you’re considering.

ABOUT CORNERSTONE

Cornerstone was formed on July 1, 2024, to better serve and represent REALTORS® in the markets of Mississauga, Burlington, Hamilton, Waterloo Region, Niagara North, Haldimand County, Norfolk County, and surrounding areas. With over 8,000 members, Cornerstone is Ontario’s second-largest REALTOR® association. Cornerstone stands for transparency, honesty, and integrity and offers a unique value proposition, paving the way for members’ brighter future.

Established to better serve and represent REALTORS®, its vision is to establish a new, more influential, capable, and member-centric organization designed to meet the evolving needs of REALTORS® and help them thrive in the marketplace.

Cornerstone stands for transparency, honesty, and integrity. By taking a proactive stance toward the future and not being afraid to question some of the long-standing assumptions, Cornerstone offers a unique value proposition, paving the way for members’ brighter future.

We are Cornerstone. REALTORS® Together, Stronger Together.

More information at www.cornerstone.inc 

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

The statistics provided in this release are based on information from the ITSO MLS® System. Multiple MLS® Systems operate within Ontario, and while none can be guaranteed to include every property listed or sold within a given area, they effectively illustrate market trends.

Understanding the Taxes on Selling a Home in Ontario

Investing in real estate remains one of the most effective ways to build wealth and prepare for retirement. Over the past few decades, property values in Ontario have seen significant appreciation. According to the Canadian Real Estate Association (CREA), residential properties in the province have averaged an annual return of 7 to 10 percent. However, before selling an investment property, it’s crucial to understand the tax implications and ask: How much tax will you owe when selling a house in Ontario?

Do You Pay Taxes When Selling a Home in Ontario?

The taxes owed on the sale of a home depend on how the property was used. If it has been your principal residence for the entire time you’ve owned it, you are exempt from paying taxes on the sale due to the Principal Residence Exemption. However, if it is a second home, rental property, or business asset, capital gains tax may apply.

In 2025, tax changes could affect those with large capital gains. If your net capital gains exceed $250,000 in a year, 66.67 percent of the profit is now taxable—an increase from the previous 50 percent. This adjustment means higher-value properties and investment assets could result in a greater taxable amount.

How Much Tax Is Owed When Selling a House in Ontario?

One of the advantages of the Ontario real estate market is that primary residences are exempt from capital gains tax. This means that any profit made from selling your main home is not taxed. Many homeowners who have held onto their properties over the past two decades have benefited from substantial, tax-free appreciation.

There are a few exceptions to this rule, but in general, the ability to sell a principal residence without paying capital gains tax makes homeownership in Ontario particularly attractive.

Taxes on a Real Estate Sale in Ontario

If taxes do apply to the sale of your home, they may include the following:

Ontario Harmonized Sales Tax (HST) If you are selling a newly built or significantly renovated home in Ontario, you may be required to charge HST on the sale. However, if the home was your primary residence, you might qualify for a rebate on some or all of the HST paid. The rebate amount depends on the sale price and how much HST was paid.

To determine eligibility, sellers must submit an HST New Housing Rebate Application to the Canada Revenue Agency (CRA) within two years of the sale date. Even for principal residences, some HST may still apply.

Capital Gains Tax

Capital gains tax does not apply to the sale of a principal residence, but vacation homes, rental properties, and investment properties in Ontario are subject to this tax. While a partial capital gains exemption may be available, the calculations can be complex.

For individuals who engage in house flipping—buying a property, holding it for a short period, and reselling for profit—capital gains tax is likely unless the home is occupied for at least a year. The Residential Flipped Property Rule, implemented in 2022, ensures that profits from selling a property owned for less than 365 days are fully taxable as business income. This includes pre-construction condo sales if the purchase rights are sold within a year.

Expenses related to the sale may be tax-deductible, but losses cannot be claimed as business losses. However, exceptions may be granted for sales due to significant life events, such as job relocation, disability, or family changes. The CRA has increased scrutiny in areas with high speculative activity, so proper documentation is essential when filing taxes on real estate sales.

During an audit, the CRA may request documents such as:

• Purchase and sale agreements
• Mortgage contracts
• Property appraisals
• Subdivision plans (if applicable)
• Zoning applications
• Real estate listing agreements
• Legal statements of adjustments

Property Tax Adjustments in Ontario

Property taxes in Ontario are typically prorated at the time of sale. Sellers are responsible for property taxes up until the closing date, while buyers take over payments for the remainder of the year. If the seller has already paid the full year’s property taxes, the buyer reimburses their portion. These adjustments are handled during the closing process by a real estate lawyer or notary.

Taxes for Non-Resident Sellers in Ontario

The tax requirements differ for non-Canadian residents selling a home in Ontario. Key points include:

• Applying for a Clearance Certificate
• A 25 percent withholding tax on the gross sales price (or 66.67 percent for rental properties)
• Filing a Section 216 return if the property was rented
• Submitting a Canadian tax return for the sale year

Get Professional Guidance When Selling Your Home in Ontario

Beyond taxes, sellers must also account for additional real estate-related costs, including legal fees, mortgage discharge fees, and moving expenses. To navigate these complexities, it’s important to work with knowledgeable real estate agents, legal professionals, and tax experts.

While real estate remains a powerful tool for wealth creation, being informed about tax implications ensures a smoother transaction and fewer surprises. 

Reach out to us anytime if you need advice. Having a trusted accountant is highly suggested to anyone looking to get into buying homes as investment property.