I hope that your year is off to a great start! Are you thinking about buying a new home this year? If so, I'm sure that you're probably considering and saving for a down payment. But, just how much do you need? Well, that depends on the price of your home.
Homes Under $500,000
In Canada, the minimum down payment for a home is 5%. So if you're buying a home for less than $500,000, you're required to put 5% down.
Homes Between $500,000 - $999,999
Property taxes are usually calculated as a percentage of a home's assessed value.
Five cities with the lowest property tax rates in 2021 were all located within the Greater Toronto Area.
Toronto had the lowest property tax rate in 2021 at 0.61 percent, followed by Markham at 0.63 percent.
* For example, someone who owns a home in Toronto would pay $6,110.13 in property taxes on a $1 million home.
Property taxes are usually calculated as a percentage of a home's assessed value.
Five cities with the lowest property tax rates in 2021 were all located within the Greater Toronto Area.
Toronto had the lowest property tax rate in 2021 at 0.61 percent, followed by Markham at 0.63 percent.
* For example, someone who owns a home in Toronto would pay $6,110.13 in property taxes on a $1 million home.
Making an offer can be an exciting and stressful step of the buying process. There are a lot of factors that can make or break the decision. It's good to know the types of offers that you can make in order to ensure you not only get the house you want but also protect yourself.
The two types of offers you can make are Firm and Conditional. Your lawyer can help you decide by providing you with the benefits and the downfalls of each.
When it comes to choosing new flooring for your home or apartment, the options can be overwhelming. Almost every type of flooring has some sort of advantage over other kinds, and taking in all the information from a salesperson or contractor is a lot to process. Installing new flooring is an investment that can increase your home's value, and it shouldn’t be taken lightly.
Here’s a look at some of the most important things you need to know about when choosing flooring.
When selling a home, presentation is everything. Successfully staging a property can help buyers visualize themselves living in your home, which ultimately can lead to more offers.
Understanding how to deal with builders in the current climate can set the tone for what to expect, should your clients decide to buy new construction.
With heated real estate markets throughout so many areas of the country, new construction is no exception. This sector of the market has been fast-moving as the pandemic has motivated people to seek spaces that truly optimize the ability to live, work and play in one place.
The commercial real estate industry in North America is heavily reliant on the metric commonly known as capitalization or “cap” rate. The cap rate is probably the #1 tool employed by analysts and investors in evaluating and choosing rental properties.
Canadian real estate has been a tough nut to crack for some homebuyers, and those with less than 20 percent as a down payment now face another challenge, with Canada Mortgage and Housing Corp.’s (CMHC) tighter qualification rules for borrowers of high-ratio mortgages. This move is in response to the global pandemic that has left many Canadians vulnerable.
For many buyers, flooring is an unexpectedly key factor in the choice of a home. Flooring can unify a space and make it stand out or can draw unnecessary attention to itself and be a stumbling block to a sale. When preparing your next property for sale, flooring should be a focus, not an afterthought.
In-demand flooring styles are changing.
Light-coloured hardwood
