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]

RRSP HBP withdrawal limit increased from $35,000 to $60,000. As of April 16th, 2024, the qualified first time home buyers can withdraw up to $60,000 from their RRSP as part of the RRSP First Time Home Buyer Plan. The 2024 federal budget approved the increase from $35,000 to $60,000. Please click on the links above to learn more about the RRSP HBP and the increased limit, and let us know if you have any questions. [read more]

In the past we have written a blog providing a basic insight into the condo fees to explain why condo fees are so expensive. Before we dive into more details let’s recap some aspects of the condo fees: The fees for condo apartments are typically much higher on a per square foot basis than condo town homes as long as the town homes are not attached to the condominium building. Units with parking and locker will have higher fees than identical units in the same condo corporation... [read more]

Some buyers wonder if they should hire a buyer’s agent, or they should represent themselves. Below we will discuss different options, what to be aware of, pay attention to and what to avoid. First off it is important to mention that the buyers aren’t required to use an agent, they can represent themselves, in Ontario you as a buyer are required to use a lawyer to complete the transaction, but you are not required to use a realtor when buying the property. There are over... [read more]

On September 24, 2024 The Government of Canada announced significant changes to the mortgage rules qualifications. The two changes are: Increasing the $1M price cap for insured mortgages to $1.5M. Expanding the eligibility for the 30-year mortgage amortizations to all first-time home buyers, and to all home buyers of preconstruction homes.   Increasing the $1M price cap from $1M to $1.5M for insured mortgages. This is a significant change for buyers who could afford... [read more]