Home Ownership: Marriage vs Common Law

Unhappy Couple

Do you assume the house or cottage you share with your life partner belongs to both of you, or are you positive you understand who holds legal ownership? Assumptions can be expensive when it comes to money and real estate. “The garden is as much mine as yours,” yelled one homeowner to his spouse when… Read More

What To Do Before You List Your Home For Sale

To Do List For Getting Your Home Ready to Sell

Today’s market presents some very unique opportunities for buyers. With affordability near record highs and interest rates near record lows, many homeowners are making the decision to move up or on. Here a few simple tips to take into consideration when listing your home for sale. 1. Curb Appeal: Buyers make snap judgments about each… Read More

Your Dream Home Wish List

Dream Home

There are millions of homes for sale. How do you know which is the right one for you?  The key to getting just the right fit is to develop a wish list. From the lifestyle you want to live to the style of home that best fits your needs, a wish list is a great… Read More

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

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

Multiple Representation in Selling and Buying Homes

Real Estate Agent with Clients

When a home is sold, there are typically two real estate agents involved: one representing the seller (the ‘listing agent’) and one representing the buyer (the ‘buyer agent’). Another common situation is where one real estate agent represents both the buyer and seller, for example, when a buyer without an agent comes to an open… Read More

Resistance To Change When Buying Or Selling A Home

Resistance to Change

Resistance to change is common for buyers and sellers. This may seem surprising since both buying and selling mean seeking out a move with many related changes, but resistance is common none the less. Buying and selling real estate involve many complex decisions packed full of real estate terminology, all of which are new territory for most… Read More

As If Bidding Wars Weren’t Bad Enough – Now We Have Escalation Clauses

The super-hot Toronto area market has been rife with bidding wars over the past 1-2 years, as buyers have greatly out-numbered sellers in competing for the dwindling supply of homes for sale. These competitive auctions can be a nightmare for buyers, as the bids are “blind”, meaning that competing bidders only know how many other… Read More

Is Your Basement Apartment Legal?

Is Your Basement Apartment Legal

There are thousands of basement apartments in Toronto, and the vast majority of them are NOT legal. There is a lot of confusion as to what it means for a basement apartment to be legal, and what is required to make it so. If you are thinking about buying a house with an illegal basement… Read More