One of the risks with investing in pre-construction buildings is that the project might cancel for whatever reason. In a previous blog, I talked about how some developers may be playing games with contractual loopholes. (I don't make any statements about the developer below, but you can read about the case to make your own judgements) Condo Developer Extorts Buyers for $100k? Investing with a...
Lawrence Mak Real Estate
With an average price of $1,155,345 across the GTA, there was an increase of +19.3% compared to last year.
From a return on investment, you will make more money buying an existing condo instead of a buying a pre-construction condo. (*Pre-construction is when you put in a deposit for a condo or house that will be built in 3 or 4+ years) Although there are pros and cons to both, one of the things I absolutely HATE about the pre-construction market, is the one-sided contracts that you have to sign. It...
The average home in Toronto is now worth $1,155,345. This is up +19.3% compared with last year. Everything, including condos are going up and up. As I was saying before, the #1 thing you need to do as a renter is to get into your first property. Condos are increasing $50k-$70k per year, so every year, it gets harder to qualify. Similarly, if you are upgrading, detached homes are appreciating...
With an average price of $1,155,345 across the GTA, there was an increase of +19.3% compared to last year.
The market is going crazy and this recently sold house in Creditview, Mississauga has a lot to teach! As the property description says, this "Property in very poor condition unsafe to show. All utilities on the property have been disconnected." Still, it sold in 4 days for $56,000 OVER ASKING for almost $1,000,000 and you couldn't even go inside! Sure, the market is hot, but there is another...
With an average price of $1,155,345 across the GTA, there was an increase of +19.3% compared to last year.
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...
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...