The year 2007 in Toronto was a crazy year in terms of real estate sale and skyrocketing prices. Many buyers bought during this frenzy and paid top dollar for a property. As reality sets in and property values start to decline, these home owners are now struggling to pay off their financial obligations, forcing the bank to take over the mortgage on their home. Because of this, home buyers and investors see it as a great time to buy real estate in Toronto. With low interest rates and with homes being sold under power of sales, it may seem like a good deal, however you may want to look at the hidden details before moving ahead.
When buying a new construction condo in Ontario, the Tarion Warranty Corporation provides protection to buyers under the New Home Warranty Program. Membership in this program is mandatory for new construction builders and offers protection to buyers of new construction in terms of a deposit protection, defects in the workmanship and materials and protection against delayed closings and occupancies.
With Interest rates at an all time low, it is a great time to buy real estate in Toronto. Home owners are upgrading and first time home buyers are taking the plunge. As a Realtor, a common question asked by many of my buyer clients is what route to should take; purchase a condo apartment or a freehold home. My answer…well it depends.
Buying a condo essentially means buying into a low maintenance way of living. Condos can be an affordable and stress free way to live as each month the owner pays a maintenance fee to cover certain common costs of the building. While having a low maintenance fee is ideal there are other factors to consider such as what is included in the monthly maintenance fee and the financial health of the buildings condo corporation.
Toronto is going green. I’m sure you’ve noticed a large majority of Grocery stores in Toronto are now encouraging shoppers to bring their own recyclable grocery bags. As well, Torontonians took part in the earth hour which demonstrates that we are becoming more aware of our environment. Did you ever think about living your every day life more green? Well now you can as Toronto has jumped on green band wagon with over over 2,000 green condos units.
April was great news for the Toronto Real Estate Board. With 8,107 real estate sales is the Toronto Real Estate Market “springing” back?
Did you ever wonder how energy efficient your home is? Well now you are required to find out. The provincial government has passed Bill 150: the Green Energy Act, forcing Ontario residents to add another task to their to-do list before they can sell or lease out their home.
Bill 150, the Green Energy Act would force home owners to provide information on how energy efficient their home is before selling or leasing the property.