The difference between owning a home and renting is about $4,000 per month. Is that scary? Is that even true? In the past 4 years, the average price of condos have gone up about $200,000. That's $50,000 / year. Average Condo Sale Prices For many, the question is whether you can afford a home. Let's look at the numbers: 1-bedroom condos in Toronto rent for $2,000 month.The monthly...
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If you want to renovate your home just to sell for more money, chances are, you won't make your investment back. However, if you want to renovate so that your family can enjoy your home, that's a completely different story! (Plus if it's for your own home, the profit is tax-free!) As an added service to our clients, we are happy to provide input on what's selling best and and what's popular out...
Labour Day traditionally marks the end of the slower Summer market into the faster-paced Fall Market and this year was no exception. The average price for a home is $1,136,280 which is an increase of +18.3% compared with last year. View the September 2021 Report Most single-family homes, such as townhouses, semi-detached and detached houses have been selling successfully with multiple...
With an average price of $1,070,911 across the GTA, there was an increase of +12.6% compared to last year.
Because of supply and demand, multiple offers will be here for quite some time. Understanding how to navigate the bidding process is critical to getting a good price. You are probably thinking that only the highest price will win. Based on my experience, this is often true, but I have seen many cases when it isn't. Here are 3 tips to winning multiple offers: 1. Don't Compete This is always...
https://www.youtube.com/watch?v=raS07mwW6mE Should You Buy a Ccondo with Kitec Plumbing? If you bought a condo built between 1995 and 2007, there is a good possibility that there is Kitec plumbing in the building. What is Kitec Plumbing and should you be concerned? Kitec plumbing was used at the time because it was cheaper than copper. Unfortunately, it had a tendency to corrode and so there was a $125...
Last week I had the pleasure of being interviewed by Chris Molder from Tridac Mortgage. I talked about the August 2021 numbers as well as:• Pent up demand in Toronto• Low supply in the market• Does Toronto have a housing crisis?• Federal party platforms on housing• The Toronto condo market If you need any help with a new or existing mortgage, don't hesitate to contact: Chris Molder,...
Last week, a ban to blind bidding in real estate sales was proposed as an election promise by one of the parties. Blind bidding is when multiple buyers try to buy the same property. Since they can't see what the other offer prices are, they are "bidding blindly" and prices can escalate. Whenever I sell a property with multiples offers, there is often a wide spread in the offer prices. A...
With an average price of $1,070,911 across the GTA, there was an increase of +12.6% compared to last year.
Last week, I recommended investing in your Principal Residence before thinking about other investments. Your lifestyle would improve and all of your appreciation would be tax-free! Read part #1: "What's the best investment?" But let's say you're already happy with your existing home. What should you invest in next? My recent clients were exactly in that situation. They wanted real estate...