Are you thinking about buying Toronto condos before it's built? The good news is that condos are a wise investment whether you plan to live in them or want to rent them out. However, simply owning a condo does not provide you with any financial benefits, and it can even become a liability. The majority of investors prefer pre-construction condos. Getting in on the ground floor of a new development is an exciting option, especially when you have a say in the development and... [read more]

Many would-be homeowners lose their dream properties due to savage bidding wars. bidding wars may offer sellers a great chance to have their pick, but they are no fun for buyers; think frustration, stress, and the possibility of paying more for a property than it is worth! If you are planning to buy this year, you will inevitably face multiple offers when bidding on Toronto condos. Here are my top tips for coming out of a bidding war victorious. Reduce Your Offer Conditions Real... [read more]

Homeownership goals have changed with the new generation of condo buyers who are ready to flee the nest and step into home ownership. Currently, millennials comprise 40% of all homebuyers, and their wishlists cannot be ignored. Unlike baby boomers, millennials are willing to overlook affordability and square feet for more convenience, amenities, lifestyle, and eco-friendliness. Developers have been hard at work catering to Millennials who value creativity, advocate for the environment, and... [read more]

Have you ever attributed the root of your perpetual fatigue and apathy to the lighting source in your living quarters? It is a well-established fact that humans fare better when embraced with sunshine and a fairly lit abode as opposed to a poor one. Everybody aspires to own a bright airy apartment but some of us have to make do otherwise. However, just because a room has tiny windows or no windows at all doesn’t mean it has to be all dark and gloomy. These tips would help you brighten... [read more]

Are you looking to sell your condo in Toronto? Forget that you were told about buyer expectations because the pandemic has completely turned the tables on what buyers look for in a condo. Here’s what a pandemic-buyer want in a condo: Buyers want an old-school Floor Plan The pandemic brought with it stay at home orders and indefinite work from home. Now more than ever, buyers are more conscious about the limitations imposed by the chic, open-concept condos that are characterized... [read more]

Smart Backup Down Payment Sources for Toronto Condos Several homebuyers and tenants dream of owning a home or real estate property in Toronto. First-time buyers of Toronto condos often find the down payment very demanding and challenging. This is because you need to pay at least 5% as a down payment for a condo. That will approve your application for an insured mortgage. If you are an investor who invests in condos for sale with a purchase price of over a million in Toronto, then... [read more]

Homeownership should give you a sense of security and peace, no matter where you live. If you own a condo, condo insurance can provide that sense of comfort and confidence. While the condo association’s master insurance policy generally covers the main structure and common areas, some things are considered a homeowner’s responsibility. condo insurance helps protect against losses and repair costs for a condominium unit, in the event of theft, vandalism, fire damage, water... [read more]

Toronto may finally be cracking down on real estate speculators who invest in multiple properties and leave them unoccupied, while residents struggle to find affordable housing. On July 15, 2021, Toronto City Council has approved a plan to implement an Empty Homes Tax as of January 1, 2022. While the exact details of the plan will be revealed later this year, the proposed tax is modeled after the “empty homes tax” already implemented in the City of Vancouver. Since 2017, vacant... [read more]

Are you looking to sell your condo in Toronto? Forget that you were told about buyer expectations because the pandemic has completely turned the tables on what buyers look for in a condo. Here’s what a pandemic-buyer want in a condo: Buyers want an old-school Floor Plan The pandemic brought with it stay at home orders and indefinite work from home. Now more than ever, buyers are more conscious about the limitations imposed by the chic, open-concept condos that are characterized... [read more]

The new mortgage stress test rules are out. With these rules, it will be more difficult for new and renewing mortgage borrowers to be eligible for their home loan commencing June 1st, 2021. The “stress test” now looks at a higher threshold. The Introduction to Stress Test A mortgage stress test was introduced in 2018 for all Canadian homebuyers. This catered to validating whether they can make a down payment of 20% or more on a home. Additionally, new mortgage stress test... [read more]