📢 31st Aug 2023 - Toronto GTA Real Estate Insider: Daily Briefing

★ Thursday 31st August 2023 ★ STOP Renting START Owning! Toronto GTA Real Estate Insider: Daily Briefing! "Your gateway to Real Estate triumph: Reports, Advice, and the latest Listings!" Welcome to "Toronto GTA Real Estate Insider: Daily Briefing!" Our daily newsletter is your exclusive access to insider insights, trends, and developments in the Greater Toronto Area real estate market. We understand that being an insider is invaluable, so our briefing delivers the most relevant and impactful information directly to your inbox. Whether you're a buyer, seller, investor, or industry professional, our curated content covers a wide range of topics, including market updates, new listings, investment opportunities, and expert analysis. Get the inside edge and make informed decisions with our daily briefing. Subscribe now to "Toronto GTA Real Estate Insider: Daily Briefing" and stay ahead of the curve in the dynamic GTA real estate scene. What steps can I take to save for a Down Payment and improve my chances of qualifying for a Mortgage in Toronto? Saving for a down payment and improving your mortgage qualification chances in Toronto involves careful financial planning and responsible financial habits. Here are steps you can take: 1. Set Clear Goals: Determine how much you need for a down payment. In Canada, a minimum down payment of 5% is typically required, but a larger down payment can lead to better mortgage terms. 2. Create a Budget: Track your expenses and create a realistic budget. Identify areas where you can cut back to save more money. 3. Open a Dedicated Savings Account: Open a separate savings account for your down payment. This makes it easier to track your progress and prevents you from using the funds for other purposes. 4. Automate Savings: Set up automatic transfers to your dedicated savings account each month. Treating savings as a non-negotiable expense helps you save consistently. 5. Reduce Non-Essential Spending: Cut back on discretionary spending such as dining out, entertainment, and impulse purchases. Redirect these funds to your down payment savings. 6. Increase Income: Look for opportunities to increase your income, such as taking on a part-time job, freelancing, or pursuing side gigs. 7. Consider RRSP Home Buyers' Plan: In Canada, you can withdraw up to $35,000 from your Registered Retirement Savings Plan (RRSP) for a down payment through the Home Buyers' Plan. This withdrawal is tax-free if repaid within a specific period. 8. Reduce Debt: Pay down high-interest debts, such as credit card balances, as they can affect your debt-to-income ratio and mortgage eligibility. 9. Build Strong Credit: Maintain a good credit score by paying bills on time, keeping credit card balances low, and avoiding new debt. 10. Avoid Large Purchases: Avoid making large purchases on credit before applying for a mortgage, as it can impact your credit score and debt ratios. 11. Get Pre-Approved for a Mortgage: Before house hunting, get pre-approved for a mortgage. This not only sets a realistic budget but also shows sellers that you're a serious buyer. 12. Work with a Mortgage Professional: A mortgage broker can help you understand your options, find competitive rates, and guide you through the mortgage application process. 13. Research First-Time Homebuyer Programs: Explore government programs in Toronto and Canada designed to assist first-time homebuyers with down payments and other costs. 14. Save Windfalls: Use unexpected windfalls, such as tax refunds or bonuses, to boost your down payment savings. 15. Be Patient and Consistent: Saving for a down payment takes time and discipline. Stay committed to your goal and celebrate your progress along the way. Remember that improving your financial health and saving for a down payment is a gradual process. Each step you take brings you closer to your goal of homeownership in Toronto. Consulting with a financial advisor can also provide personalized guidance tailored to your financial situation. What Do Canadian Real Estate Markets Look Like Heading Into Fall? - REALTOR.ca Blog Get the latest Canadian real estate market trends for 2023 and Stay informed with our expert analysis and housing predictions realtor.ca READ MORE ... 8 Cities In Canada With Cheap Homes For Sale & Your Down Payment Can Be Less Than $30K Ideal for first-time homebuyers! 🏠 msn.com READ MORE ... Consultant's report on rental housing says Nova Scotia needs residential tenancy enforcement unit | CBC News A report commissioned by the provincial government is recommending the creation of a residential tenancy compliance and enforcement unit, CBC News has learned. cbc.ca READ MORE ... Buying With a Single Income: Most Affordable and Expensive Cities in Canada (2023) | Zoocasa Blog Trying to buy a home alone? Take a look at the most affordable cities to buy a home in Canada on a single income and how much you would need to afford to live in one. zoocasa.com READ MORE ... Average rent in Canada hit a new record high in July | Canada The rising cost of living in Canada won't stop and the average rent across the country is the latest to see a spike. dailyhive.com READ MORE ... This is what a $20 million lakefront mansion in Toronto looks like You might be under the impression that all multimillion dollar waterfront properties are kinda the same, give or take the style of the mansion and ... blogto.com READ MORE ... House of the Week: $5.5 million for a King City home with a fireplace that defies physics The 4,000-square-foot property also comes with recessed ceilings, a midnight-blue kitchen and a serpentine staircase torontolife.com READ MORE ... Niagara House of the Week: Grimsby townhouse just steps from Lake Ontario | inNiagaraRegion This place: Stunning townhouse just steps from Lake Ontario, this two-storey, three-bedroom, three-bathroom unit comes with a completely finished basement. Price: $788,000 Address: 7 Lakelawn Rd., Unit 35 Neighbourhood: Lakeside neighbourhood Big selling point: Enjoy this very special part of Grimsby with great walkability, trendy shops, Yoga/Fitness studios and restaurants. Features Close to the soon-to-be-built GO Train […] insauga.com READ MORE ... How to use your home equity loan to buy a home in Toronto? Delving into the realm of acquiring curtains online, the intricate art of juxtaposing prices and scrutinizing product excellence unfurls as a sacred practice. publicistpaper.com READ MORE ... Gap between real estate prices in the cheapest and most costly Ontario cities hits $1.6 million If you think that you'd need to leave Ontario to be able to afford a home, you might be shocked to learn how much cheaper some locales in the provi... blogto.com READ MORE ... What Role Will AI Play in Canadian Real Estate? AI is changing the game in every industry, and real estate is no exception. canadianrealestatemagazine.ca READ MORE ... Canadian House Prices / Mortgage Rates All Bad News | Investing.com Canada Market Overview Analysis by Ron Butler covering: . Read Ron Butler's latest article on Investing.com Canada. ca.investing.com READ MORE ... 200 Montreal tenants have pledged to go on a rent strike this fall. Why more may join them | CBC News Quebec’s proposed Bill 31 would give landlords the power to block lease transfers. Meanwhile, average rents for new leases in Montreal are now almost $2,000. Now a tenants’ union is organizing a rent strike as an “emergency response.” cbc.ca READ MORE ... Should I Rent or Buy a Vacation Home? How to Decide Should you buy or rent your vacation home? Help in deciding which one works for you. discover.rbcroyalbank.com READ MORE ... Seven reasons to buy a new construction home Everything you need to know about the advantages of buying a new construction home, according to the experts. livabl.com READ MORE ... Toronto tenant had no trouble finding a roommate to share bedroom for more than $1K each A Toronto tenant seeking someone to share his bedroom for $1,050 a month was able to fill the vacancy within a matter of days – a high sign of the ongoing affordability “emergency” within Canada ’ s housing market, according to an expert in the field. cp24.com READ MORE ... Canada is sitting on one of the largest housing bubbles 'of all time,' an analyst says. What happens if it bursts? An analyst who describes Canada as sitting on one of 'the largest housing bubbles of all time' warns that if it bursts, the country could be thrown into a deeper recession than forecasted. ctvnews.ca READ MORE ... From $4 Billion To ? Canadian Insurer Stops Disclosing Underwater Mortgages - Better Dwelling One of Canada’s Big 3 mortgage insurers is no longer publicly sharing its underwater exposure. Canada Guaranty quietly dropped the value of mortgages with negative equity in its latest data, as first reported by the Globe. Is the private insurer, backstopped by taxpayers, hiding a public concern? Let’s take a quick dive into the issue, […] betterdwelling.com READ MORE ... London, Ont., man withholding rent for 2 years in disability fight hopes for new win at tribunal | CBC News A 62-year-old London man who hasn't paid rent in two years will be before Ontario's Landlord and Tenant Board (LTB) again, in November, to argue his new landlord wrongly made a change in his payment method and it doesn't accommodate his disability, cbc.ca READ MORE ... Canada Has Seen Subprime Become The Fastest Growing Borrower Segment: Transunion - Better Dwelling To the surprise of many, Canadians have balanced high debt loads and credit quality for over a decade. That era might be over. Transunion Canada data reveals an explosion of subprime borrowers in Q2 2023. Higher living costs and rising rates have combined to produce higher risk borrowers. At the same time, lenders are embracing […] betterdwelling.com READ MORE ... Landscaping a new construction home Planning your new build's outdoor space is as important as planning the inside. Here are some tips to create an outdoor oasis. livabl.com READ MORE ... Buyer's failure to obtain severance amounted to anticipatory breach of contract Discover the legal issue that caused the buyer's failure to obtain severance and learn how it amounted to an anticipatory breach of contract. realestatemagazine.ca READ MORE ... What can Canadians expect from the Bank of Canada's next announcement? Another rate increase would have big implications, says Ratehub.ca co-CEO mpamag.com READ MORE ... The return of the vendor takeback With low interest rates in recent year, the vendor takeback mortgage has been essentially an unnecessary device that has sat unused. However, it remains a specific tool that is particularly useful when markets are a little volatile. renx.ca READ MORE ... Editor's Note "Welcome to my Newsletter Page! I am a professional Real Estate Agent in Toronto GTA with an Architectural background from India. With a unique combination of design and real estate knowledge, I am dedicated to helping clients find their dream home. My expertise in both fields allows me to understand the potential of a property and how to best showcase it to potential buyers. I am committed to providing excellent service and going above and beyond for my clients. Let me help you navigate the real estate market and find your perfect property in the Greater Toronto Area & Surroundings. Contact me today!" Click Here For Hot New Toronto Regional Real Estate Board [TRREB] MLS® Listings. Call | Email me for more Info on any Greater Toronto Area Listings, Buying, Selling, Investing or Homebuyer's queries. Click Here to View Listings like Real Estate Agents. Click Here For HOMES & CONDOS In Toronto. Click Here For PRE-SALE CONDOS in Toronto. How does Rent-To-Own Homes works? Click Here for Power of Sale Listings. Manoj Atri, REALTOR®  Experienced Toronto GTA Sales Representative with Architectural Background. My forte: Power of Sale | Bank Foreclosures | Fixer Upper | Rent-To-Own Homes | All types of Credits Low or Zero down With Bank Cash-Back | Cash For Renovations & Much More... Re/Max Hallmark Realty Ltd., Brokerage 401-685 Sheppard Ave E, Toronto ON M2K 1B6 Cell: [416] 275-2089 | Office: [416] 494-7653 | Email: Manoj@ManojAtri.com Websites:   Homebuyer Hub | ManojAtri.com | ManojAtri.ca | SearchHousesForSale.ca SearchRealEstateInToronto.ca | Rent-To-Own Homes | ManojAtri.ReMaxHallmarkRealty.ca  Social Media: Facebook Profile • OLD Fan Page: Rent to Own Homes GTA • Facebook NEW Fan Page Blog • Instagram • LinkedIn • Pinterest • Twitter • Tumblr • Youtube • Client Testimonials Subscribe To My FREE Daily Curated Hot News Articles e-Newsletter! © Copyright 2023 ManojAtri.com All rights reserved. If you no longer wish to receive these Emails, please Unsubscribe Here