Land Transfer Tax Explained

tThe burden of land transfer tax

Purchasers in most large Canadian centres can add Land Transfer Taxes to their list of closing costs. Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, land transfer taxes (or Property Purchase Taxes) are a basic fact of life. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending… Read More

What Buyers Want In a Condominium

What Buyers Are Looking For in a Condo

In Toronto, there are more condos being built than in any other city in North America. Across Canada, condos projects at all price ranges are grabbing home buyers’ attention and down payments. What buyers want in a condo depends partly on where they live, but there are some common themes. A recent survey by TD… Read More

How Renovations Impact Your Home Insurance

Woody Allen once said: “There are worse things in life than death. Have you ever spent an evening with an insurance salesman?” But if you are planning a renovation to your home and don’t take the time to speak to your insurance broker, you could be making a big mistake. During and after a renovation,… Read More

The Weather Is Cooling – But The Market Is Not

A total of 7,385 homes were sold in the Greater Toronto area last month, 14% higher than last year and an all-time record for the month of November. With one month still to go, we have already set a new calendar year record for home sales, topping the previous record set in 2007. If you… Read More

Understand The Full Costs Of Buying A Home

When you’re looking to buy a home, it’s easy to forget that the purchase price is just one of many costs associated with ownership. These costs can add up and take an unexpected chunk out of your budget. So it’s important to understand the full cost of buying a property. PRE-CLOSING COSTS Home inspection Getting… Read More

Things To Consider When Looking For A Recreational Property

You picture yourself stepping outside your chalet in the crisp morning air, clicking into your bindings and skiing down to the lift to catch the opening run of the day. Or, climbing aboard your snowmobile for an exhilarating day on the trails. For many Ontarians, these idyllic moments are reason enough to own a recreational… Read More

Toronto Fall Market on Cruise Control

It’s interesting: the Toronto market has been so amazingly consistent and predictable over the past several years, these monthly updates almost write themselves. Once again, the price and inventory trends for October have closely matched the pattern in 2013 and 2014, just shifted upward. If you wanted to nit-pick, you could say that the average… Read More

CMHC – Toronto Housing Marking is “Problematic”

The CMHC publishes quarterly reports on the Canadian housing market, in which they evaluate the extent to which there are “problematic housing market conditions” in Canada’s 15 major urban centres. Click here to view their latest report. For CMHC, the term ‘problematic’ encompasses four factors related to the dynamics of the market: Overheating – that… Read More

Getting Value Out Of Condominium Amenities

With dozens of condominium buildings competing for buyers in Canadian cities, building amenities have become an important part of developers’ marketing plans. In the first condominium buildings, amenities were pretty much limited to indoor pools and a generic “party room”. Now buyers are looking for fitness centres and entertainment lounges. Developers are marketing lifestyles, not… Read More

Canadian Cottage Owners Need A Succession Plan

Ah, the great Canadian cottage dream….lazy days in the summer relaxing by the lake….watching the kids swimming or learning how to water ski. Or enjoy your own ski chalet, hosting happy family dinner gatherings after a day on the slopes. Canadians love their recreational properties and demand for cottages and ski chalets keeps pushing up… Read More