Just like anywhere else, buying and owning an apartment in Canada is different than having a house. The house comes with the land it is built on and more. Simply put, you are buying a piece of land and everything within its perimeters – the house, the trees, the mines and minerals, and other improvements built on it. You have the absolute right to everything on, over, and under – within the boundaries of the land. When buying a condo, land ownership and rights are not as straightforward as buying a landed property. Here are the key aspects ...
Canada Condo Ownership 101
August 15, 2018
Things to Know when Considering a Preconstruction Condo to Buy
July 31, 2018
Buying a condo during the pre construction stage is a different process as the unit is still non-existent. Technically, you are paying for a home that is still being constructed or in the plans of being constructed. Presale condos are commonly offered at a discounted price to convince apprehensive buyers. The advantageous price and with proper diligence, you can make the most out of the benefits of buying your condo during the pre-construction stage. Floor measurements – The stated floor area might not be exactly what you’re getting. Developers would usually indicate the square footage up to the boundaries ...
Home Financing Guide: A Primer
July 9, 2018
Buying a condo, a house or other types of real estate properties are unlike any other purchase. It requires a lot of paperwork and legalities. And because of the sale price involved, buying a home is also financially challenging and confusing. Here are some of the most common financial terms and phrases relevant to buying a condo or a house in Toronto. Getting Pre-Approved. Getting pre-approved is not a requirement but is a significant component to buying a condo or a house in Toronto. Getting pre-approved means your financial standing has been reviewed and approved eligible for real ...
Toronto’s Housing Market
June 7, 2018
Previous data from Toronto Real Estate Board (TREB) shows a decline in home sales, the lowest it has been in 15 years. While the housing market as a whole seems stable, Toronto has borne the brunt of low number of sales and home values this April compared to the same period in 2017. The hectic spring season brings in a lot of buyers as the market recovers from the slower winter months. However, this is not the case with the GTA which has recorded close to 8000 sales, a 32% decline from the 11470 units sold in the same ...
8 Advantages of Buying New over Resale Condo Units
May 28, 2018
When buying condos, deciding between a new condo and a resale unit is an important step. Your choice will ultimately affect the price, location and other considerations of the purchase. There are pros and cons in buying into new developments as there are when buying a resale condo. Modern interiors and look – New buildings will have the latest and trendiest look and design. When buying condos in older buildings, you will be stuck with its outdated design or need to renovate in order to update the look. With new condos, you can contribute to the design of ...
Toronto’s Growing Condo Market
May 24, 2018
According to new data from the Royal LePage, luxury condo homes are growing in value compared to detached houses with an average of 10.4% increase in prices over the last four months. The Greater Toronto Area (GTA) has experienced declining homes sales in a season that bring in high volumes. The decline is attributed to government interventions, high mortgage rates, and low sales activity. Sales activity across the GTA has been slowing down as both buyers and sellers adjust to economic measures the federal and provincial governments put in place to cool off the markets after the high experienced ...
Toronto’s Housing Market This Spring
May 17, 2018
Spring is always the season that sees a booming rise in home sales after slow sales in winter. However this year things are different in Toronto. The home sales have been going down since January, but experts are optimistic that the market will rebound back this spring. Home sales dropped by a staggering 35% from last year, with prices falling by 14%. Although the year-on-year comparisons have seen a drop, month-on-month comparisons tell a different story. There has been a steady increase in the housing market. The listings have been increasing, and there has been steady growth in demand and ...
One-Day Insider Sales Events For 2 Top Developments
May 8, 2018
One-Day Insider Sales Events For 2 Top Developments. Happening This Saturday May 12th Universal City Condominiums in Pickering Stunning Suites Starting From The Low $300K's Ranging From 1 To 3 Bedroom Units 2 Minutes From Pickering GO Station & 401 Access AMAZING Extended Deposit Structure With Only $3000 On Signing! Click here to view Floor Plans Click here to view the Brochure Register Here to Book an Appointment Time Modern Townhomes in North Oshawa STARTING PRICES RANGE FROM $529,900 TO $589,900! FROM 1760 SQ.FT. TO 2160 SQ.FT! OPT. 4 BEDROOM/DEN LAYOUT $2500! CERTAIN LOTS SUBJECT TO PREMIUMS! CLOSING ...
Debunking the “Buy, Hold, Sell” Condo Investment Approach
May 7, 2018
Nick (not his real name) plans to invest in a Toronto condo and so he makes a date with his trusted real estate agent and explains his interests. He intends to buy, hold and sell his condo in 10 months. Obviously, Nick wants to have a minimum risk on his new investment and to make profit on some 10 months or so condo appreciation. The truth is, there’s a problem with his thinking and the sad part is he’s not alone. The short-term investment mindset is the current trend in Toronto real estate market that we would highly advise against ...
5 Reasons Condos are the Ideal Starter Homes
April 30, 2018
Buying your first home is a major adulting milestone. Your own home comes with independence and the pride of ownership. However, it also means responsibility and increased costs of living. Thus, wisely choosing your first home is key to successful homeownership. First home buyers will often look for smaller homes, fixer uppers and condominiums, mainly because of its price tags. Here are five reasons why condominiums win as the best starter homes; Condos are more affordable. Condos are generally cheaper than houses of similar size and location. This means lower contract price, more affordable down payment and lower ...