TREB said the declines had been expected due to market-cooling measures brought in by the Ontario government last April and tougher new mortgage rules introduced in January.
Rental properties can be appealing but they’re not for everyone.�
Purchasing a rental property that you yourself can also live in is a great way to get your foot in the door, so to speak.
It's much easier to afford a property if you have someone paying rent and the best part is you don't even have to put up with a roommate!...
It's also easier to maintain your investment property if you're on site to cut the grass and perform other general repairs.
Finally, you’ll be able to write off a portion of your mortgage interest, property taxes, insurance, utilities, maintenance, etc. come tax time.
There are however a few points you’ll want to take into consideration as being a landlord can sometimes be challenging and if you don’t treat it like a business, it won’t be a success.
For instance, having an emergency fund is essential as you’ll be responsible for immediate problems such as a broken furnace or leaky roof as well as overseeing ongoing maintenance. It's also common to be in between tenants from time to time so you'll have to budget for lost rent.
Furthermore, even the most reliable tenants can be late with their rent which will turn you from investor to collector. Dealing with disagreeable tenants can also be hard work. If this is something you feel uncomfortable with, you may want to consider hiring a property manager.�
As with any property purchase, it's important to seek professional advice from your real estate agent to ensure you buy the right property, at the right time, in the right location. If you'd love to operate your own business and are able to plan for the unexpected, being a landlord might be a great fit for you!
Home sales in the Greater Toronto Area were down 35 per cent in September compared with the same month last year, although prices generally continued to increase.
The Toronto Real Estate Board says sales of all major types of residential property were down but the biggest decline was a 40.4 per cent drop in sales of detached homes.
The average selling price for all types of property sold in September was up 2.6 per cent from a year ago, rising to $775,546....
The board says high-priced detached homes accounted for a smaller share of sales than in September 2016 and that the average price for that market segment was flat.
Meanwhile the average price for condos was up 23.2 per cent to $520,411 and average prices for semi-detached houses was up 7.4 per cent at $752,379.
TREB's benchmark price index, which adjusts for different property types, was up 12.2 per cent from the same time last year.
The Canadian Press
Looking to renovate/build up or build a brand new custom home - this is for you. Land value only in sought after River Side neighbourhood. Great lot - great opportunity! Preliminary plans for new build 3680 sq ft
Congratulations to my client David on the sale of his home and the purchase of a new home. Thank you for the opportunity to represent you in both sales. You were an awesome client and I enjoyed helping you and guiding you through the processes.
Open House Sunday, June 18th 2-4 pm
597 Pinery Trail, Waterloo
Right out of a magazine - just move in!...
Where are house prices heading in Canada?
Our House Price Survey shows that for the first time since 2000, Ontario real estate market has taken the top spot in ...terms of price appreciation this quarter while a price reset is underway in British Columbia’s Lower Mainland where eroding affordability coupled with recent public policy intervention abruptly slowed activity. Quebec has emerged as an economic shining star in Canada where real estate prices experienced healthy growth given expanding jobs opportunities and relative affordability.
The full story:
Royal LePage Awards Evening
I am honoured to be the recipient of the Master Sales Award for 2016. I thank everyone who did business with me and for your referrals for another award winning year. I am blessed to have such great clients, friends, acquaintances and family to share this with. I wish you all lots and lots of happiness in your new homes and look forward to assisting you all again when needed. After 26 years in real estate, referrals are my business.
New Listing Oakville, Ontario
Saturday April 1 & Sunday April 2...
2245 Colbeck St.
Going to love this one! Beautiful Townhome in Westmount area. Don’t miss out- this tastefully updated open concept, 3 bedroom freehold townhome won't last long. Fully finished on all levels (approx 2100 sq ft). Bright and spacious layout with separate dining room, hardwood floors, family size eat in kitchen, family room with oversize window, walkout to patio, gas hook up for BBQ, fully fenced rear yard. The upper level offers 3 bedrooms and 2 full baths. The master bedroom with private ensuite and large boxed window seat and walk in closet. The fully finished lower level- like a cottage oasis with extra large look out windows and plenty of storage space. Hard to find – driveway parks 2. Features include: new quartz kitchen counters and under mount sink, professionally painted interior and exterior, new custom blinds throughout, new light fixtures, custom shelving in every closet, security system, central vac and garage door opener with keypad entry.
Ideal location: walk to shops, Starbucks, schools, bank. Close to new hospital, Bronte conservation area, golf courses, all commuter routes and GO station.
Coming soon to Upper West Glen Abbey - Westmount
Stunning 3 bedroom freehold townhome. Fully finished on all levels - approx 2100 sq ft of living space. Tastefully updated throughout. Call for me for more details 905-338-3737