What is the interim occupancy, and occupancy fee. When it comes to buying new pre construction properties, things can get complicated and are quite often full of surprises, items which are often misunderstood are the interim occupancy period and the occupancy fees. What is the interim occupancy period? The interim occupancy period is when the buyer can move in and enjoy the property, the project hasn’t been fully completed, and the title hasn't been transferred. The occupancy... [read more]

Many people during their lifetime move from one property to another and if you are an owner quite often buying and selling around the same time is a necessity. The questions arise about what to do first, buy or sell as well as what everyone should know when planning on buying and selling at the same time. There are many factors that will influence this decision. Market condition. Typically, in real estate the markets are classified as sellers, balanced and buyers market. Sellers... [read more]

For 2024 taxation year the Toronto Vacant Home Tax is set to increase from 1% to 3% annually of the assessed property value. In addition to the increase of the tax rate the following changes have been approved: Change to payment due dates. Change to the definition of the current value assessment. Clarification of the six months period which means 183 days. Expansion of the definition of the tenant to include business tenant in situations where the property is assessed as residential... [read more]

When looking for your next condo you often see numbers such us 1+1, 2+1, 1+2 where the first number represents the number of bedrooms, and the second number represents a den. We have already discussed what is a bedroom and the alternative solutions often used in condos, now let’s talk about the dens. A den, or the number that comes after “+” as it turns out, and unlike other spaces in your house or a condo is not regulated by the Ontario Building Code and that is why we... [read more]

Selling a condo in GTA. If you want to sell a condo in GTA our first question would be if you must do so, as we have already pointed out in another blog we think the real estate in GTA will do very well over the long period of time, hence if you are able to financially, and want to be a landlord (many people buy a condo as their first property and then move into a freehold as their lifestyle changes) consider keeping your condo as long as it’s a good condo in a good building. If we... [read more]