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First-Time Home Buyer Incentive is ready to go!The First-Time Home Buyer Incentive is ready to go for September 02, 2019. The first closing on properties will take effect on November 01, 2019. What’s a “closing”? This is when the property title is transferred to your name making your property purchase official. Do you qualify? Maximum property purchase price is $565,000 You must be a first-time home buyer. This program will require a buyer having a minimum of 5% down to a maximum of 20% down for a property under $500k and a buyer having a minimum 10% down to a maximum of 20% down for a property over $500k. The household’s income must be under $120,000 and the mortgage and incentive amount together can’t be more than four times the household income. Your mortgage will need to have mortgage insurance through 1 of the 3 mortgage insurers in… View Article
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Kiss the 70’s goodbye!As with a lot of Toronto, Galleria shopping Centre is on the way out and a huge development called Galleria on the Park is on the way in. Included in the development by Elad and Freed will be Wallace Emerson park and community centre. This is a 12 acre development that will start building later this year. The development is aiming for a 2030 finish date. When finished there will be nearly 3000 residential units. Over 300,000 sqft of retail space and 21,000 sqft of office space. Over half of the 12 acres will be park space with a new community centre. There will be a new road that will run diagonally from Dupont to Dufferin split the park from the proposed condos. This will give the park the needed access to breath new life into it. All the buildings… View Article
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Laneway Suites: Sweet condo alternative!Over the last few years City council has been working on laneway suites. Now property owners are starting to pay attention to the advantages of having a rental property that is not in their principal property. Laneway suites can come in different styles and layouts but there are lots of rules that govern laneway suites. Most of the rules revolve around property rights and safety. What’s the advantage for renters? This is a condo alternative. Not everyone likes condo buildings. With this unit there’s no waiting for an elevator. Laneway Suites will help reduce the need for rental housing and will enhance neighbourhoods with large lots. This is a great idea and I am sure all will benefit from this idea.
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SOLD OVER ASKING: 2604-33 Shore Breeze Dr.Simply A Beautiful Unit On The 26th Floor With A Stunning Wrap-Around 340Ft. Terrace With Beautiful Lake And City Views. A Wonderful Floor Plan With No Wasted Space. $10,000 In Upgrades Beyond Standard Finishes. Bedroom Closet Wardrobe Organization System. Convenient Parking And Huge Locker Directly In Front Of Parking Spot. Easy Access To Shopping, Restaurants And Qew. Interior Furniture Available. Contact me for further info.
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Upper Sherbourne – Looking Sexy(in a historical kinda way). The opening of the Selby apartments and the former hotel Selby now Maison Selby is a turning point for Upper Sherbourne. It started with the James Cooper condos about 8 years ago and how they incorporated the James Cooper Mansion into the condo building. Upper Sherbourne is not finished with blending old with new. Two proposed buildings across from the Selby apartments will also keep original buildings while blending in new structures!
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Land Transfer Taxes: The good, the bad and the uglyWhen buying real estate in Toronto there are two land transfer taxes, one city and the other province. On a $500,000 property the taxes together are just under $13,000. There are rebates of around $8000 for first time home buyers. The good: taxes help run the city and province. The bad: these two governments might be too dependant on this tax income. The ugly: these taxes are warping the housing market. Many home owners are staying where they are because they do not want to go through the added expense of paying land transfer taxes on a future property. Land Transfer Taxes on a property of $1,500,000 is about $52,950. This is reducing the amount of homes for sale and driving up prices because of a lack of supply. Land Transfer Taxes are the golden egg for the government but a rotten egg for… View Article
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Legal Duplex SOLD! $1,258,000This is an excellent opportunity for contractors, renovators and “do it yourself” homeowners. • Excellent floor plan • No wasted space • High basement ceilings • Potential for 3 income properties • Quiet tree lined street • No neighbours to the south and west • Potential for up to 4 cars parking • Just under 2000 sqft. above grade • This is a big opportunity whether you are an investor or future homeowner looking for an income generating property.
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Exclusive Sale! A rare opportunity Leslieville!This is an excellent opportunity for contractors, renovators and “do it yourself” homeowners. • Excellent floor plan • No wasted space • High basement ceilings • Potential for 3 income properties • Quiet tree lined street • No neighbours to the south and west • Potential for up to 4 cars parking • Just under 2000 sqft. above grade • This is a big opportunity whether you are an investor or future homeowner looking for an income generating property.
