Maximizing Your Home’s Appeal: Preparing for an Open House

by CENTURY 21 United Realty Inc. Brokerage

The July long weekend is coming, and it could be an ideal time to host an open house to showcase your home to potential buyers. Hosting an open house is a pivotal moment in the home-selling process. It’s an opportunity to showcase your property’s best features and create a lasting impression on potential buyers. To ensure a successful open house, it’s essential to prepare your home beforehand. By following some tried-and-true strategies, you can create an inviting atmosphere that will captivate visitors and increase the chances of receiving attractive offers. In this blog post, we will explore some valuable tips on how clients can prepare their homes for an open house.

Declutter and Depersonalize:
Before hosting an open house, it’s crucial to declutter and depersonalize your space. Clearing out excessive belongings will not only make your home appear more spacious but also allow potential buyers to envision themselves living there. Remove personal items such as family photos, quirky decor, and overly specific artwork. The goal is to create a neutral canvas that allows visitors to visualize their own belongings in the space.
Deep Clean and Stage:
A clean and well-staged home is more likely to attract buyers. Give your home a thorough deep cleaning, paying attention to often overlooked areas like baseboards, windows, and appliances. Ensure that bathrooms and kitchens are sparkling clean. Consider hiring professional cleaners for a comprehensive and efficient job. Staging is another essential aspect of preparing for an open house. Arrange furniture to create a sense of flow and highlight your home’s best features. Use tasteful decorations, such as fresh flowers or strategically placed mirrors, to add a touch of elegance and make the space feel welcoming.
Enhance Curb Appeal:
First impressions matter, and your home’s exterior is the first thing potential buyers will see. Boost your curb appeal by maintaining a well-groomed lawn, trimming hedges, and clearing walkways. Add some colourful flowers or potted plants to create a vibrant and inviting entrance. Repainting the front door or adding a fresh coat of paint to the exterior can significantly improve the overall appearance of your home.
Make Necessary Repairs:
Ensure that everything in your home is in proper working order before the open house. Fix leaky faucets, loose doorknobs, or any other minor issues that may turn off potential buyers. These small repairs demonstrate your commitment to maintaining the property and will instill confidence in potential buyers.
Set the Right Ambiance:
Creating a pleasant atmosphere during the open house is essential for leaving a lasting positive impression on potential buyers. Consider opening curtains and blinds to let in natural light, which can make rooms appear brighter and more spacious. Soft, ambient lighting, such as table lamps or pendant lights, can add warmth and coziness to your home. Playing soft background music can also contribute to a relaxed ambiance. Choose instrumental or classical tunes that are calming and non-distracting.
Secure Valuables:
During an open house, you’ll be inviting strangers into your home. While most visitors are genuinely interested buyers, it’s always better to be cautious. Store away or lock up any valuable items, including jewelry, electronics, and important documents. Take necessary precautions to ensure the security and safety of your belongings.

And last but not least… There is one more crucial aspect to consider when preparing for an open house: your presence as the homeowner. While it’s natural to want to be present during showings to answer questions and provide insights, it’s generally advisable to leave the house during the open house. Your goal is to create a welcoming and comfortable environment for potential buyers, and sometimes that involves giving them the space they need to envision themselves in your home. It’s a small step that can make a significant difference in the overall success of your open house and, ultimately, the sale of your property. Your REALTOR® will be at the home to welcome visitors, provide them with information on the home and answer any of their questions.

Need more tips on preparing your home to sell? If you don’t have a REALTOR® we always have an agent on duty! Call us at 705-743-4444 and we can connect you with a professional to get you started and answer any questions you might have.

Special Occasions • 28 June 2023

Celebrate the End of the School Year with These Exciting Activities for Kids!

by CENTURY 21 United Realty Inc. Brokerage

Today’s the day! It’s officially summer vacation in Peterborough and the Kawarthas. The end of the school year marks a significant milestone for both children and parents alike. It’s a time to celebrate accomplishments, embrace the summer vibes, and most importantly, have some well-deserved fun! If you’re looking for creative ways to celebrate this special occasion with your children, we’ve got you covered. In this blog post, we’ll explore a variety of engaging and entertaining activities that will make this end-of-school celebration one to remember!

Outdoor Movie Night
Transform your backyard into a magical cinema by hosting an outdoor movie night. Set up a projector and a large white sheet or inflatable screen, provide comfy blankets and cushions, and pop some popcorn. Let the kids choose their favourite movies, sit back, relax, and enjoy a memorable movie experience under the stars.

DIY Water Park
Beat the summer heat by creating a DIY water park in your own backyard. Set up a slip ‘n slide, inflatable pools, sprinklers, and water guns. Let the kids splash, slide, and have a soaking good time. It’s an excellent way to keep cool while promoting active play and endless laughter.

Picnic Adventure
Plan a picnic in a nearby park or even in your own backyard. Pack a delicious assortment of snacks, sandwiches, and refreshing drinks. Encourage the children to bring their favourite toys or games. Enjoy quality family time, connect with nature, and make precious memories while basking in the sunshine.

Scavenger Hunt
Organize a scavenger hunt that will ignite your kids’ sense of adventure. Create clues that lead them from one spot to another, ultimately ending with a treasure trove of goodies or small surprises. Whether it’s a nature-themed hunt in a park or a home-based hunt, this activity will keep their minds active and spark their imagination.

Artistic Exploration
Encourage your kids’ creativity by engaging in various art projects. Set up an outdoor painting station with easels and canvases, allowing them to express themselves freely. Alternatively, create a craft corner indoors with supplies for making friendship bracelets, origami, or DIY slime. The possibilities are endless, and they’ll enjoy showcasing their artistic flair.

Bake-Off Extravaganza
Host a friendly bake-off competition that will satisfy their sweet tooth and ignite their culinary skills. Choose simple recipes that are suitable for children, like cookies or cupcakes, and let them unleash their inner chefs. The best part? You get to taste-test their delicious creations and declare the winners!

Camping in the Backyard
Transform your backyard into a camping wonderland. Set up a tent, lay out sleeping bags, and create a cozy campfire atmosphere with LED lights or battery-operated lanterns. Share stories, roast marshmallows for s’mores, and spend the night stargazing. It’s a fantastic way to bond with your kids and introduce them to the wonders of nature.

By incorporating these exciting activities into your celebration, you can ensure a fun-filled experience that will leave your kids smiling from ear to ear. Embrace the joy of the summer season, let your imagination run wild, and cherish the time spent together as a family. Here’s to an unforgettable end-of-school-year celebration!

Featured Property • 26 June 2023

Featured Property – 753 Syer Line, Cavan Monaghan

by CENTURY 21 United Realty Inc. Brokerage

Are you yearning for a retreat from the hustle and bustle of everyday life? Look no further than this enchanting 78-acre property, where serenity and natural beauty abound. Nestled within mature trees and surrounded by the soothing sounds of nature, this meticulously maintained estate offers an idyllic escape from the outside world. From the moment you set foot on the private, tree-lined drive, you’ll be captivated by the sheer beauty and tranquillity that envelops you.

As the property unfolds before your eyes, you’ll be greeted by sweeping views of lush pastures, a generous parking pad, and a welcoming circular driveway. The home itself is a masterpiece, a stunning log house that seamlessly blends rustic charm with modern comfort. Boasting three bedrooms and two bathrooms, this stunning residence offers in-floor radiant heat on both levels, ensuring warmth and coziness during colder months. The main house is heated by an outdoor pellet furnace, providing an eco-friendly and efficient heat source.

Step inside, and you’ll be greeted by delightful tin ceilings and a spacious eat-in kitchen that will inspire your culinary adventures. A formal dining area beckons for hosting family gatherings and entertaining guests. The home also features a large back deck, a walk-out basement, and a sunroom with a hot tub, offering ample space for relaxation and entertainment. Imagine unwinding in the soothing waters of the hot tub while gazing out at the picturesque surroundings – pure bliss!

But the wonders of this property don’t end there. A detached, insulated, and heated garage/shop measuring 128 feet by 32 feet awaits, providing ample space for storage, hobbies, or even a home-based business. Adjacent to the garage is a barn with four horse stalls, measuring 85 feet by 32 feet, featuring an ample upper loft space. Whether you’re an equestrian enthusiast or simply appreciate the charm of a barn, this addition is sure to delight.

As you explore the grounds, you’ll discover a host of amenities that truly set this property apart. A Generac generator ensures peace of mind during power outages, while the presence of hay fields, pastures, a target range, and trails offer a multitude of outdoor activities. The entire property is securely enclosed by electric fencing, providing safety and peace of mind for both humans and animals.

The crown jewel of this remarkable estate is undoubtedly the private swimming pond. Complete with a dock that beckons you to sit back, relax, and savour the beauty of your surroundings, this oasis is home to bass, blue gale, and turtles. Imagine spending lazy summer days swimming in the cool waters, teaching your children to fish, or simply enjoying the gentle sway of the dock as you soak up the sun. This property offers an unparalleled opportunity to connect with nature and create cherished memories that will last a lifetime.

From hosting family barbecues to taking a dip in the above-ground pool, embarking on nature walks, pursuing hobbies in the drive shed, riding ATVs, skating on the pond, or indulging in snowmobile adventures, this property caters to a myriad of interests. It is a haven for those seeking an active and fulfilling lifestyle in harmony with nature.

This breathtaking 78-acre property with its magnificent log home offers an unrivalled opportunity to escape the chaos of everyday life and embrace the tranquillity of nature. With its meticulously designed interior, ample amenities, and vast outdoor spaces, it presents the perfect canvas for creating a lifetime of cherished memories. If you’re ready to connect with nature and discover the true meaning of “home,” look no further – this property is waiting to welcome you with open arms.

This property is listed with Shaun Pearce, REALTOR® with Tamer Kamar & Associates, a team with CENTURY 21 United Realty Inc Brokerage. Schedule a viewing today and let your dreams become a reality! Reach out at 705-743-4444 or shaun.pearce@century21.ca.

: Aerial view

: Detached shop

: Dining Room

: Bedroom

: Lower Level

: Enclosed porch

: Rear Elevation

: Aerial view

: Barn

: Swimming pond

C21 United events • C21 United events • Events • 21 June 2023

Celebrating 45 Years of Excellence: Century 21 United Serving Peterborough and the Kawarthas

by CENTURY 21 United Realty Inc. Brokerage

When it comes to real estate, trust, experience, and a deep understanding of the local market are essential. For over four decades, C21 United has been a cornerstone of excellence in the Peterborough and Kawarthas region. As we mark our 45th anniversary, join us as we celebrate our achievements, our profound impact on the community, and the trust we have built with our valued clients.

Since our establishment in 1978 by Carl Oake, Century 21 United has been a name synonymous with trust and integrity in the real estate industry. Carl Oake’s vision and dedication laid the foundation for our brokerage’s success. Today, under the leadership of his daughter, Vanessa Oake Hogan, we continue to uphold those values, providing exceptional service while maintaining the highest ethical standards. Our team of experienced agents embodies these values, ensuring that our clients receive the best guidance and support throughout their real estate journey.

With 45 years of experience, our brokerage has an unrivalled understanding of the local market. We have witnessed the region’s growth and transformation firsthand, allowing us to provide clients with invaluable insights and advice. Whether it’s finding the perfect family home, an investment property, or a piece of land to build on, we possess the expertise needed to navigate the ever-changing real estate landscape.

We firmly believe that being an active participant in our community is not just a responsibility but also a privilege. Throughout the years, we have actively supported local initiatives, charitable organizations, and events, giving back to the very community that has supported us. By contributing to the betterment of Peterborough and the Kawarthas, we have established ourselves as more than just a real estate brokerage but also as a community partner.

Adapting to the ever-evolving real estate landscape has been crucial to our success. We have consistently embraced innovation and technology to provide our clients with the best possible service. By leveraging the latest tools, marketing strategies, and data-driven insights, we ensure our clients have a competitive advantage. Balancing our traditional values with cutting-edge tools allows us to deliver results that exceed expectations.

As we celebrate our 45 years of serving Peterborough and the Kawarthas, we are humbled by the trust and support we have received from the community. Our unwavering dedication to trust, expertise, and customer satisfaction has made us a household name in the local real estate market. With our local knowledge, integrity, and willingness to embrace innovation, Century 21 United is well-positioned to continue leading the way for many years to come, helping individuals and families find their dream homes and investments in this beautiful part of Ontario.

Looking to work with a Brokerage that embodies local market knowledge? Look no further! Reach out to us at 705-743-4444. We always have an agent on duty to help serve you.

Special Occasions • 16 June 2023

Fun and Easy Father’s Day Crafts for Kids: Show Dad Some Love!

by CENTURY 21 United Realty Inc. Brokerage

Father’s Day is this Sunday, and what better way to celebrate Dad than with handmade crafts created with love by the little ones? Kids have an incredible talent for creativity, and involving them in crafting activities not only helps them express their artistic skills but also allows them to show their love and appreciation for their dads. In this blog post, we’ll explore some fun and easy Father’s Day crafts that kids can enjoy making. These crafts are sure to put a smile on Dad’s face and create lasting memories. Let’s get started!

Handprint “High-Five” Card: Create a personalized Father’s Day card with a special touch—handprints! Help your child dip their hand in washable paint and carefully press it onto a blank card, creating a high-five handprint. Add a heartfelt message inside the card, expressing how much they love and appreciate their dad. This simple yet meaningful gesture is guaranteed to bring joy to Dad’s day.
“Dad Rocks” Paperweight: Turn ordinary rocks into a charming paperweight that Dad can proudly display on his desk. Collect smooth stones of different shapes and sizes and let your child decorate them with acrylic paint or permanent markers. They can write “Dad Rocks!” or create colourful patterns and designs. Once dry, Dad will have a unique paperweight that reminds him of his little rockstars.
“Super Dad” Cape: Every dad is a superhero in the eyes of their child. Let your little ones unleash their creativity by designing a “Super Dad” cape. Provide a plain fabric cape or an old T-shirt and fabric markers. Encourage them to draw their dad’s initials, symbols representing his hobbies or interests, or simply write “Super Dad” in bold, vibrant colours. Dad will feel like a superhero whenever he wears it!
“My Hero” Trophy: Dads are everyday heroes, and what better way to acknowledge that than by creating a personalized trophy? Use a small plastic cup or a cardboard cutout shaped like a trophy. Let your child decorate it with glitter, stickers, and markers. You can even print out a photo of Dad’s face and glue it to the top. Presenting Dad with a trophy will make him feel appreciated for being a true hero in their eyes.
“We Love You to Pieces” Frame: Combine creativity and a heartfelt message with this “We Love You to Pieces” frame. Take a simple photo frame and let your child cover it with puzzle pieces, either painted in different colours or left as they are. Attach a picture of your child and Dad, and write “We Love You to Pieces” on the frame. It’s a touching keepsake that Dad will cherish for years to come.

This Father’s Day, let your child’s creativity shine through delightful and easy-to-make crafts. The joy and pride your child feels in presenting their handmade gift will be priceless, and Dad will treasure these heartfelt creations forever.

Happy crafting and a Happy Father’s Day to all the incredible dads out there!

14 June 2023

Getting Your Home Ready for Summer: Embrace the Season with These Essential Tips

by CENTURY 21 United Realty Inc. Brokerage

With the summer season just around the corner, it’s time to ensure your home is ready to embrace the sunny days and warm evenings. Whether you’re planning to sell your property or simply looking to create an inviting space for your family and guests, a well-prepared home will enhance your enjoyment and increase its appeal. In this blog post, we’ll explore some key tips and ideas to help you get your home ready for the summer season.

Create an Outdoor Oasis: One of the greatest joys of summer is spending time outdoors, so let’s start by focusing on your outdoor space. Begin by cleaning and sprucing up your patio, deck, or garden area. Clear away any debris, trim overgrown plants, and give your outdoor furniture a fresh look by cleaning or replacing cushions. Add pops of colour with vibrant potted plants and invest in some outdoor lighting to create a cozy atmosphere for those warm summer evenings.
Welcome the Sunlight: Summer is all about embracing natural light and opening up your home to let the sunshine in. Remove heavy winter drapes and replace them with lighter, breezier curtains or blinds that allow light to filter through. Clean your windows thoroughly to maximize natural light flow and consider adding mirrors strategically to enhance the brightness and create an illusion of a more spacious interior.
Refresh Your Colour Palette: Summer calls for a lighter, brighter colour scheme that reflects the season’s energy and warmth. Consider repainting your walls in soft pastels, cool neutrals, or even vibrant hues to give your home a fresh and inviting look. Update your accessories, such as throw pillows, rugs, and artwork, with summer-inspired patterns and colours to create a cohesive and cheerful atmosphere throughout your living spaces.
Keep it Cool: As the temperature rises, it’s essential to keep your home cool and comfortable. Schedule an HVAC system check-up to ensure it’s in optimal condition for the summer months. Clean or replace air filters, and consider installing ceiling fans or portable fans to improve airflow and reduce the need for excessive air conditioning. Don’t forget to inspect and repair any cracks or gaps in doors and windows to prevent cool air from escaping and unwanted warm air from entering.
Embrace the Outdoors Indoors: Invite the outdoor vibes inside by incorporating natural elements into your home decor. Place fresh flowers or potted plants in various rooms to bring life and freshness indoors. Utilize lightweight, breathable fabrics for your bedding and curtains to create a breezy, resort-like ambiance in your bedrooms.
Prepare for Entertaining: Summer is a time for gatherings and socializing. Get your home ready for entertaining by ensuring your kitchen is equipped with the essentials for summer meals and BBQs. Stock up on outdoor-friendly dinnerware, glassware, and picnic supplies. Consider setting up an outdoor seating area or a dedicated entertainment space for hosting guests. Create a cozy and inviting atmosphere by providing comfortable seating options and setting up areas for conversation and relaxation.

Getting your home summer-ready is a delightful way to embrace the season and enjoy the warm days and long evenings to their fullest. By following these tips, you can create an inviting and refreshing space that will make you and your guests feel right at home. So, dive into the spirit of summer, let your creativity shine, and make this season a memorable one in your beautifully prepared home.

Not happy with your outdoor space? No outdoor space to speak of? Looking to change that? We always have an agent on duty to help you. Call our office at 705-743-4444 and we will be happy to direct you to a REALTOR® to answer your questions.

Area Features • Area Features • 12 June 2023

Discover the Best Hiking Spots in Peterborough and the Kawarthas

by CENTURY 21 United Realty Inc. Brokerage

Peterborough and the Kawarthas offers an array of picturesque hiking trails that attract nature enthusiasts and outdoor adventurers year-round. If you’re a nature lover looking to explore the great outdoors while immersing yourself in the charm of this region, read on! In this blog post, we’ll uncover some of the best hiking spots in Peterborough and the surrounding area.

Petroglyphs Provincial Park: Petroglyphs Provincial Park is a must-visit destination for history and nature enthusiasts alike. Under an hour Northeast of Peterborough, this park is home to one of the largest collections of ancient Indigenous rock carvings (petroglyphs) in Canada. Alongside this cultural significance, the park features scenic trails that wind through lush forests, showcasing the region’s stunning flora and fauna. The moderate hiking trails offer a peaceful escape into nature, providing an opportunity to connect with the land’s rich history. When you’re done with your hike, why not stop off at the public beach on Stony Lake and enjoy a swim at their sandy beach surrounded by million-dollar cottages.
https://www.ontarioparks.com/park/petroglyphs
Warsaw Caves Conservation Area: Embark on an adventure through the awe-inspiring Warsaw Caves Conservation Area. Located just 30 minutes outside of Peterborough, this natural wonderland is characterized by its unique limestone caves, hiking trails, and picturesque scenery. Traverse the winding trails, explore the impressive caverns, and soak in the breathtaking views along the way. With options for all skill levels, this conservation area offers a memorable hiking experience for families and avid explorers alike. And if you’re looking to extend your stay, check out their 52 site campground!
https://www.otonabeeconservation.com/camping-outdoor-recreation/warsaw-caves/
Ganaraska Forest: Escape into the tranquillity of Ganaraska Forest, a sprawling wilderness located just 45 minutes Southwest of Peterborough. With over 400 kilometres of trails, this forest offers year-round opportunities for hikers to explore its diverse landscapes. From towering pine trees to serene meadows, the trails wind through a mix of wooded areas and open spaces. Nature lovers will appreciate the abundance of wildlife and the peaceful ambiance that surrounds them in this enchanting forest. If you’re looking for something a bit more daring than a hike, check out Treetop Trekking Ganaraska, who operates an aerial games course in the Central Forest.
https://www.grca.on.ca/content/ganaraska-forest
Kawartha Highlands Provincial Park: Considered the crown jewel of the Kawarthas, Kawartha Highlands Provincial Park spans over 375 square kilometres and offers a vast network of hiking trails to explore. With its stunning forests, crystal-clear lakes, and rugged landscapes, this park is a paradise for outdoor enthusiasts. The trails cater to a range of skill levels, from leisurely strolls to challenging treks, allowing visitors to fully immerse themselves in the region’s natural wonders. Don’t forget your camera to capture the breathtaking vistas along the way. Open year-round for backcountry adventures.
https://www.ontarioparks.com/park/kawarthahighlands
Jackson Park: Stay close to home and plan a hike in the heart of Peterborough. Jackson Park provides a convenient and picturesque hiking option for those seeking a tranquil escape from city life without ever leaving the city. This urban park offers an array of well-maintained trails that wind through beautiful gardens, towering trees, and serene ponds. The park’s diverse landscapes and vibrant flora make it a popular spot for nature lovers, birdwatchers, and photographers alike. Take a leisurely stroll or enjoy a picnic amidst the peaceful surroundings.
https://thekawarthas.ca/businesses/jacksons-park/

Whether you’re a local resident or a visitor to the area, these hiking spots will undoubtedly leave you with lasting memories and a deep appreciation for the stunning landscapes that Peterborough and the Kawarthas have to offer. So, lace up your hiking boots, grab your camera, and embark on a journey of exploration and connection with nature. Happy hiking!

Market Stats • 9 June 2023

Real Estate Market Analysis: May 2023

by CENTURY 21 United Realty Inc. Brokerage

As we move further into the spring market of 2023, it’s time to take a closer look at the real estate market’s performance. The statistics for May 2023 reveal interesting trends and insights. The average number of sales for the month was 117, with an average price of $644,096. Comparing these figures to May 2022, there was a marginal 0.8% decrease in the number of sales, while the average sale price experienced a more significant decline of 10.8%. Additionally, the number of active listings in May 2023 increased by 11.6% compared to the same period the previous year.

The relatively stable average number of sales suggests that the market has maintained its momentum, with only a slight dip. This indicates that despite changing conditions, buyers remain active and engaged in the real estate market. However, the noticeable 10.8% decrease in the average sale price signals a shift in property values. Various factors, such as market dynamics, economic influences, or evolving buyer preferences, could be contributing to this decline.

On the bright side, the increased number of active listings in May 2023 provides buyers with a broader selection to choose from. With more inventory available, buyers have the opportunity to explore various options and potentially negotiate favourable deals. Sellers, on the other hand, may face heightened competition as they strive to stand out in a market with increased choices for buyers.

An interesting aspect worth noting is the relatively short average number of days on the market in May 2023, which was 19 days. This indicates a fast-paced market, with properties selling swiftly. Sellers may attribute this to factors such as high demand, limited inventory, or effective marketing and pricing strategies.

While the May 2023 real estate statistics reflect a decline in average sale prices, the market remains active and presents opportunities for both buyers and sellers. By staying informed about market conditions and working with knowledgeable professionals, individuals can navigate the evolving real estate landscape with confidence.

Highlighted below are some of the major areas covered by our stats:

As always, it’s essential to stay informed and seek the advice of experienced real estate professionals when making decisions in the current market. Need help to decide your next move? Don’t know what these numbers mean for you? We always have an agent on duty to help you. Call our office at 705-743-4444 and we will be happy to direct you to a REALTOR® to answer your questions.

Tips & Tricks • 1 June 2023

Demystifying the Difference: Down Payment vs. Deposit

by CENTURY 21 United Realty Inc. Brokerage

When diving into the world of real estate, you’ll encounter various terms and concepts that may initially seem confusing. Two terms often used interchangeably but hold distinct meanings are “down payment” and “deposit.” Both are essential components of the home-buying process, but understanding the difference between the two is crucial to navigating your way through a successful transaction. In this blog post, we’ll shed light on the differences between a down payment and a deposit, helping you grasp their unique roles when purchasing a home.

Defining the Down Payment
A down payment refers to the upfront payment made by a buyer to the seller when purchasing a property. It is a percentage of the total purchase price and serves as a commitment from the buyer to proceed with the transaction. The down payment is typically paid at the closing of the sale, and the remaining balance is covered by a mortgage loan. The percentage required for a down payment varies depending on several factors, including the lender’s requirements, the type of loan, and the buyer’s financial situation.
Understanding the Deposit
A deposit is an amount of money that the buyer provides to the seller as a sign of good faith and commitment to purchasing the property. The deposit demonstrates the buyer’s seriousness in pursuing the transaction and is usually paid shortly after the offer is accepted. Unlike the down payment, the deposit is not a fixed percentage of the purchase price and is subject to negotiation between the buyer and the seller. The deposit amount can range from a few thousand dollars to a more substantial sum, depending on the local real estate market and the property’s value.
Purpose and Protection
The down payment and deposit serve distinct purposes in a home purchase and offer various forms of protection for both parties involved.
- Down Payment: The primary purpose of the down payment is to reduce the amount of money borrowed from a lender and to demonstrate the buyer’s financial stability and commitment. It also helps determine the loan-to-value (LTV) ratio, which affects the mortgage terms and interest rates. The down payment acts as equity in the property, providing a financial cushion for the lender and reducing the buyer’s risk of defaulting on the loan.
- Deposit: The deposit serves to protect the seller in case the buyer fails to fulfill the terms of the purchase agreement. It provides compensation to the seller for any potential damages incurred due to the buyer’s breach, such as backing out of the deal without a valid reason. Conversely, if the seller fails to meet the terms of the agreement, the deposit is typically refunded to the buyer. The deposit amount is held in an escrow account until the closing, at which point it is applied toward the purchase price or returned to the buyer if the deal falls through.
Refunding and Non-Refunding
While the deposit is subject to refund based on the terms of the purchase agreement, the down payment is non-refundable in most cases. If the buyer backs out of the deal without a valid reason, the seller is generally entitled to keep the deposit as compensation for the time, effort, and opportunity costs associated with the failed transaction. However, there may be certain circumstances in which the deposit can be refunded, such as when contingencies outlined in the purchase agreement are not met or if the seller breaches the contract.

Understanding the difference between a down payment and a deposit is vital when purchasing a home. By grasping their unique purposes and implications, you can confidently navigate the home-buying process and make informed decisions.

Need more help navigating the real estate market? Don’t have an agent already? Our REALTORS® are always available to answer your questions and we always have a duty person available during our office hours. Just give us a call at 705-743-4444.

Featured Property • 29 May 2023

Featured Property – 1421 Clearview Drive, Peterborough

by CENTURY 21 United Realty Inc. Brokerage

Welcome to Peterborough’s preferred west end, where your dream home awaits! This charming raised bungalow, boasting 1,047 sq ft of living space and an attached single-car garage, is the epitome of comfort and style. From the moment you set foot on the property, you’ll be captivated by the modern wood staircase and welcoming front deck, which sets the tone for the remarkable interior that lies within.

As you step inside, you’ll be greeted by an abundance of natural light that fills every corner of this home. The open living and dining area create a perfect space for hosting gatherings and creating lasting memories with your loved ones. Imagine entertaining guests as you effortlessly transition from the spacious living room to the inviting deck, overlooking the fully fenced backyard. It’s the ideal setting for summer BBQs, enjoying a cup of coffee in the morning sunshine, or simply unwinding after a long day.

The kitchen is a chef’s delight, featuring stainless steel appliances, generous counter space for meal preparation, and ample cupboard storage. To top it off, there’s even a bonus pantry for all your culinary essentials. The thoughtfully designed layout ensures that cooking and entertaining go hand in hand, making it a pleasure to whip up delicious meals for family and friends.

The upper level of this home boasts three cozy bedrooms, each offering a peaceful retreat for a good night’s sleep. A well-appointed 4-piece bathroom completes this level, providing convenience and comfort for the whole family.

Venturing downstairs, you’ll discover additional living space that is as impressive as the main floor. A versatile fourth bedroom awaits, perfect for accommodating guests or transforming into a home office. The oversized rec room is a haven for relaxation, featuring pot lighting and a gas fireplace that adds warmth and ambiance on chilly evenings. The lower level also boasts a beautifully updated 3-piece bathroom, adding a touch of luxury to everyday living. Not to mention the convenient laundry/utility room with garage access, ensuring practicality and ease of use.

Throughout the majority of the main and lower levels, newer laminate flooring exudes a contemporary appeal, while vinyl windows grace every room, enhancing energy efficiency and aesthetics.

Location is key, and this home excels in that regard. Situated in the highly sought-after James Strath and Saint Catherine’s school districts, it offers the perfect setting for raising a family. With parks, restaurants, and shopping all within walking distance, you’ll have everything you need right at your fingertips. Don’t miss out on the opportunity to call this place home.

This property is listed with Crystal Edwards, REALTOR® of CENTURY 21 United Realty Inc Brokerage. Schedule a viewing today and let your dreams become a reality! Reach out at 705-313-0806 or crystal.edwards@century21.ca