New Condo Buyers: Beware of HST and Capital Gains Tax

When a new condo is purchased,  HST of 13% must be paid, as only resale real estate is exempt from HST. In most cases, the builder includes the HST in the purchase price, so the buyer doesn’t have to come up with a huge cash payment to CRA in addition to their down payment. In… Read More

What You Should Know About Buying and Selling Real Estate If You’ve Been Out Of The Market For A Long Time

Photo for Downsizing Article

If you’ve owned your current home for many years, you may find that a lot has changed in the real estate world. Understanding what has changed can come in handy when you’re entering the market for the first time in a while. Here are a few of the key ways the real estate marketplace has… Read More

Canadians Love Their Cottages, Cabins & Chalets

The Canadian dream of escaping the city and buying a recreational property to enjoy nature is  alive and well. Recent reports by two real estate firms say that everyone from millennials to    retirees agree that owning a recreational property is a dream come true. Many cottage communities in Ontario and B.C. have seen unprecedented… Read More

Toronto Market Continues To Adjust

Inventory_June_2017

The increase in inventory levels that began in April, pursuant to the Ontario government’s announcement of it’s 16 point “Fair Housing Plan” aimed at taming Toronto’s runaway price bubble, has continued in June. We now have 2 1/2 months’ supply of homes for sale, as compared with about 1/2 month’s supply in March. This approximate… Read More