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30 >> OUR HOUSE SUMMER 2017 DoMinion LEnDing CEntRES T here's little doubt real estate markets in some parts of Canada, especially Vancouver and Toronto, have been overheated. It's led politicians in both B.C. and Ontario to bring in measures to cool the market. Bryan Baeumler is already noticing a cooling effect, suggesting the bidding wars have slowed down. But the TV handyman is concerned for the people who bought at the tail end of those bidding wars. He's hoping the buyers are in it for the long haul because if the market corrects itself, their gains will be smaller and could even be reversed. "You don't need to buy. If you get into a feeding frenzy with a group of 20 or 30 people bidding up and up, you can end up overpaying and paying the ultimate price," he cautions. As a builder, Baeumler and his company look for properties where the seller is motivated. The best time to buy is during an economic downturn or correction in the market, he adds. He also recommends focusing on neighbourhoods that are pre-gentrified. For example, in Hamilton there were some pretty rough neighbourhoods that were very affordable 10 years ago that have turned around, especially near the waterfront. He says a home formerly going for under $200,000 is now selling for nearly half a million—potential buyers now have missed the boat. "It's a tough market right now; I always say you don't necessarily want to be the top bidder, because you may not be buying the best performer," he said. "Everybody looks back five years and says, 'I wish I bought five years ago,' and in a hot market everybody looks forward and says what if things are cheaper in five years?" As long as you're buying for the long term, and especially if the property has rental poten- tial, the time for getting into the market is always now. the balance that's going to work tomorrow, and it's a constant adjustment," he says. "You just have to average it all out at the end of the year and make sure it makes sense." While Baeumler may still be figuring out the finer points of work/life balance, he has the construction and real estate industry pretty well figured out. His construction company, Baeumler Quality Construction, has been behind a long list of projects in the greater toronto Area for 15 years. He's also developed his own certification for contractors through Baeumler Approved that helps homeowners connect with contractors. He has his own custom cabinetry line with Baeumler Custom Cabinetry and a charitable organization, the Baeumler Family Foundation, which is committed to fostering the advancement of children's emotional and physical care, and related research and education within Canada. While he's made a career of renovating and bringing back homes from the grave, he does have some surprising advice for those looking to renovate: it may not be the best idea for the average homeowner. Whether the homeowner will get value from a renovation comes down to the neighbourhood and the house itself, he explains. Buying in the MidsT of a BooM Baeumler's advice on fast-rising home prices and trying to time the market Baeumler with his wife, Sarah, in front of the Highview (top left), one of the investment properties they fixed and flipped on Bryan Inc.; Highview interiors (above) (6) Si EntERtAinMEnt Continued on Page 32 }