Blog
The New Year in Real Estate
March 2011 was the second-best month on record for real estate sales, according to the Toronto Real Estate Board, reflecting solid affordability and improving economic conditions across the GTA and Canada. The average number of days a home spends on the market remains below 30, which is excellent. Homes that are well-maintained and well-priced continue [...]
Housing Affordability and You: Is now the time to buy?
Everybody already knows that housing prices are on the rise. Today the average price of GTA-area listing on MLS (the central database for real estate listings) is nearly the same as it was during the housing bubble of 1989. (See graph at left.) Does this mean that housing has once again become unaffordable? The answer [...]
Toronto First Time Buyer Tips
What is a downpayment on a condo in Toronto? How do I qualify for a zero down mortgage? Should I get a mortgage preapproval? How much are realtor fees in Ontario? Do I need a realtor to buy a condo in Toronto? What is a deposit on a condo? What are closing costs when buying a condo [...]
So, You Want to Buy A Condo: An Intro to the Buying Process
You’ve decided to purchase a condominium apartment. Great! Now the question is: do you need a realtor? I think the best way to answer that question is by explaining what a realtor does and what to look for in a good realtor. Free Consultation Realtors don’t charge by the hour. We meet [...]
Non Canadian Resident Mortgage
For a Canadian citizen and Canadian residents the requirement for down payment is 20%. If you’re planning to have less of that amount, Canadians and residents will be referred to the CMHC for mortgage insurance, it will allow you to purchase a home with as little as 5% down payment. For non-Canadians on working visa, the requirements are a little different, Now, with non-Canadians, non-residents (foreigners not residing in Canada) or Canadian citizens non-residing in Canada (Canadian citizens who live abroad) the down payment requirements changes quite a bit. First off, financial institutions will ask for a minimum down payment of 35% to 50%, depending on each case.
Optimism returning to housing market
Confidence appears to be seeping back into the housing market, with a majority of Canadians saying it's a good time to buy, according to the Royal Bank of Canada's annual home ownership survey. Although this optimism is not reflected in the most recent sales statistics - the volume of sales in the Toronto area, for instance, was down 47 per cent year-over-year in January - the Royal Bank predicts that lower prices will lure a growing percentage of Canadians back into the housing market in the next two years.
Purchase & Sale Agreement — Offer Condo
The condo purchase and sale agreement is the legal contract used to buy and sell ownership of a condominium apartment.
Buying a condo – getting started
First steps in the buying process First steps in the buying process good luck
Condo Buying Process
The first steps in buying a condo, like any other real estate purchase, is to determine what price range you are qualified to buy upto. The second step is to determine where you want to buy a condominium apartment. The third decision is deciding how much you want to spend keeping in mind the amount [...]
