October 2019

New Developments Market Update: October 2019

The GTA new home market was relatively strong in September, both in terms of new home sales and new project openings. There were 3,061 new home sales in September, according to Altus Group. This was up 73 per cent from September 2018 and 6 per cent above the 10-year average. Condominium apartments in low, medium and high-rise buildings, stacked townhouses and loft units accounted for 2,107 new...

Five Things Every New Condo Buyer Should Know When Making The Deal

We've found the perfect condo you've been searching for and you’re ready to make it your home. But before you sign off on your deal, consider these things to ensure you understand your rights as a new home buyer. Get a lawyer to review your agreement The purchase agreement is a critical part of making a new condo officially yours. But before you grab the pen and sign away,...

Top Three Reasons For Construction Delays

Buying a pre-construction home can definitely be stressful, especially when your closing date seems to be moving further and further away. And if you need to sell your current residence prior to taking possession of your new home, you know that whether or not your builder meets the closing or occupancy date in your purchase agreement will affect your living situation. While we all wish that builds...

The Starbucks Effect

The “Starbucks Effect” may sound like a medical term related to caffeinated beverage addiction, but you won’t find the term in the Canadian Medical Association Journal. Rather, several articles have taken this parlance to describe the phenomena of how a Starbucks store opening increases home and property values. Can the entry of a hip coffee shop predict housing prices? It's something a lot of...

Condo Investing: Evaluating the Numbers

Evaluate the carrying costs Another important factor that every investor should consider in their business model is the carrying cost of their investment. The carrying cost is the total cost of holding or carrying inventory. A condo owner’s carrying costs may include the mortgage, condo fees (such as maintenance), property taxes and insurance. One of the benefits to pre-construction condo...

Condo Investing: The Perfect Suite

The condo market is on the rise across in Canada as people look to improve their quality of life, downsize, and access affordable housing in desirable locations. You can take advantage of this movement through clever investments in key locations, generating reliable rental income and building equity in a way that’s more affordable, less time consuming, and easier to manage than other real estate...

Condo Investing: Renting vs. Selling

Choosing whether to rent or sell your condo can be a tough decision. While renting your condominium provides you with a solid source of ongoing income, it can also deprive you of a much larger source of capital. Like many things in life, the decision you make should be based on timing, with renting a great option when you need to ride out weak market conditions. If you do it right, renting your condo...

Condo Investing: The Perfect Project

Finding the Perfect Investment Condo There are lots of things to consider when you're hunting for the perfect investment condo. Not only do you need to find a great suite in a fantastic location, but you also need to be aware of the needs and expectations of the market both now and in the future. With a seemingly non-existent price ceiling in today’s condo market, intense competition and difficulty...

Condo Investing: Challenges & Benefits

Buying a condo as an investment is very different to buying one as a home. While you still have to think about specific lifestyle factors such as location, community and amenities, you also have to analyze taxation, equity growth, rental income, closing costs, rules and by-laws. Once these hurdles have been overcome, however, condos offer a number of advantages over other real estate investments. Benefits...

What is the Cash Flow Incentive?

Sales of new condos jumped to a near-record in the Toronto region in the second quarter of 2019 amid lower borrowing costs, with most growth coming outside of the city core. Sales surged 77% to 8,902 units from the same period last year, according to market research firm Urbanation Inc. That’s the second-highest level on record for the quarter, following the market peak of 11,413 pre-sales in the...

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