What You Should Know About the Toronto Vacant Home Tax The Toronto Housing Affordability Task Force has proposed a new 1% vacant home tax that could go into effect as soon as the beginning of 2022. The Toronto City Council voted in favor (24-1) in December to implement the tax levy on vacant homes in […]
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Is the Buggy Light Justified? Everyone knows that bugs that fly are drawn to light. We can’t stand it when they buzz around and hit our light fixtures over and over again. They leave after the lights go out, which is good. What if they don’t, though? What if they decide to live in your
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Three common components tips for new homeowners The convenience of having a low-maintenance lifestyle is a major selling point for a condominium for homeowners. Not to bother about yard work, gardening, or pressure cleaning the driveway. Yet, this does not give you the licence to disregard the shared spaces in your building completely. Discover the
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Despite the slowdown, Canadian mortgage debt continues to rise Despite the housing market recession, Canadians still have a serious addiction to mortgage debt. According to Stat Can, the sum of outstanding mortgage loans reached a new high in December of 2022. Even while the rate of increase in mortgage credit has fallen to its lowest
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Bank of Canada will increase rates, and leave room for more: BMO One possible reason why we won’t see a rate cut this year is that Canadian markets have already started talking about them. Over the weekend, BMO Capital Markets sent a letter to investors stating their anticipation of a rate increase this week. Currently,
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Quick tips for first-time homebuyers How will someone know when it’s “the proper moment” to buy a house? maybe a question you have if you’ve been considering it. Is it still ok to think about buying if you don’t have a 20% down payment saved up? Like any major undertaking, the secret to a smooth
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After Variable Shock, Canadian Homebuyers Choose Fixed Terms Overstimulated Homebuyers in Canada are avoiding adjustable-rate mortgages. Mortgage borrowers in Canada favoured fixed interest rates over variable ones in October, according to data from the Bank of Canada (BoC). At the beginning of the year, a majority of new borrowers selected adjustable-rate mortgages. As rates return
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Renting is increasing among all ages. There is a need for better legal protection—and respect After decades of reliability, the Canadian dream of homeownership is beginning to look more like a pipe dream. Rising interest rates and stagnant property markets have put a strain on potential purchasers’ budgets, forcing them to look for alternative housing
Positive Aspects of Making a Pre-Construction Purchase In addition to saving yourself four years or more of waiting for new pre-construction, negotiating the purchase price, and securing a brand-new, never-lived-in home with full Tarion guarantee, there are a number of other advantages to purchasing a pre-construction assignment unit shortly before closing. Laura wants to buy
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New data reveals Canadian rentals exceed $2K for the first time In November, the average rental price in Canada topped $2,000 per month, according to a survey issued on Wednesday. Based on the numbers provided, it appears that renters in Canada are forking over an average of $2,024 monthly to cover their housing costs. This
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