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Greater Toronto Real Estate Insider: Daily Spotlight!"Transform your Home Buying and Selling Journey with our valuable Insights and Listings!"Welcome to "Greater Toronto Real Estate Insider: Daily Spotlight!" Our daily newsletter is your exclusive glimpse into the insider world of the Greater Toronto real estate market. We understand that insider knowledge is invaluable, so we bring you curated insights, trends, and expert opinions directly to your inbox. Whether you're a buyer, seller, investor, or industry professional, our spotlight covers a wide range of topics, including market updates, new developments, investment opportunities, and regulatory insights. Gain the inside edge and make informed decisions with our daily spotlight. Subscribe now to "Greater Toronto Real Estate Insider: Daily Spotlight" and get an exclusive look at the ever-evolving Greater Toronto real estate scene. Estimating closing costs when buying a home in Toronto is essential for budgeting and ensuring you have a clear understanding of the total costs involved in the transaction. Closing costs are additional expenses beyond the purchase price and can vary based on factors such as the property price, location, and specific circumstances. Here's how you can estimate closing costs: Work with Professionals: Engage a real estate lawyer and a mortgage broker early in the process. They can provide you with accurate estimates based on your specific situation. Land Transfer Tax: Toronto has both a municipal and provincial land transfer tax. The amount depends on the purchase price. You can use online calculators provided by the city to estimate these costs. Legal Fees and Disbursements: Legal fees for handling the transaction and associated disbursements (title searches, document registrations, etc.) are typically charged by your lawyer. Request a quote from potential lawyers. Title Insurance: While not mandatory, title insurance provides protection against title defects or ownership disputes. The cost is based on the property value. Home Inspection: While not a closing cost, a home inspection is recommended and has a separate fee. It can help identify potential issues before purchasing. Appraisal Fee: If your lender requires an appraisal of the property's value, there may be a fee associated with this service. Mortgage Insurance Premiums: If your down payment is less than 20%, you may need mortgage loan insurance. The cost varies based on the down payment amount and property value. Home Insurance: Lenders require proof of home insurance, which comes with a premium based on factors like coverage, location, and property value. Moving Costs: Factor in expenses related to moving your belongings to the new property. Utility Hookups and Deposits: Setting up utilities like water, electricity, and gas may involve deposits or connection fees. Adjustments and Prepaid Expenses: You may need to reimburse the seller for prepaid property taxes, utilities, or other fees that extend beyond the closing date. HST on New Builds: If you're buying a newly constructed home, HST may apply to the purchase price. New homebuyers can apply for rebates on a portion of this tax. Condominium Fees: If purchasing a condo, you'll need to pay any outstanding condo fees and contribute to a reserve fund. Miscellaneous Costs: Other potential costs include home warranties, repairs or renovations, and any additional services you require.
To get a more accurate estimate, consult with your real estate lawyer, mortgage broker, and potential service providers. Keep in mind that closing costs can add a significant amount to your overall expenses, so it's important to plan for them accordingly.
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Getting the right home-buying advice can help you one day walk through your own front door.
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Canadian housing is getting more affordable, but it’s still way out of reach for most. National Bank of Canada (NBF) released its Q2 2023 Housing Affordability Monitor (HAM) showing improvements in most markets. Despite rising financing costs, home prices fell enough to improve affordability. It was the third quarter to show affordability improvements, but it’s […]
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Canada’s real estate correction is all set to continue, following a brief interruption. High-profile macroeconomics firm Oxford Economics sees the Spring bounce as temporary. Their latest forecast shows the correction is only halfway, and will last well into next year. Higher mortgage rates and macroeconomic erosion may also prevent a rapid recovery. Canada’s Real Estate […]
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Ontario has surpassed Alberta with the most valuable agricultural land in Canada
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GTAHomeHunt: Toronto Property Sells for Over $100,000 Above Asking Price - Gillett News
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By Paul Rellinger. Popular downtown entertainment venue and restaurant hits the market; current owner Desmond Vandenberg is hopeful buyer will 'take it, enjoy it, and build on it'.
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Real estate markets in the country's largest metro areas remained relatively strong in July despite the Bank of Canada's most recent rate hikes.
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High-net-worth individuals are discouraged from investing in the Canadian housing market
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A surprisingly resilient economy and underlying demand point to positive signs ahead, says company president
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For much of the mortgage industry’s history, brokers required a mountain of paperwork from prospective clients to ensure they’d actually be approved by a willing lender.
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Time to set on your path to homeownership! Check out these mortgage do's and don'ts to make the process smoother and more enjoyable.
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Your best chance to pay below the national average 👀.
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Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Real Estate Correction Is Far From Over: Oxford Economics Canada’s real estate correction is only half over, warns a prominent research firm. Oxford Economics sees the Spring bounce fading, and the correction resuming. Prices are forecast to fall another 10% by […]
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Prices of homes in Halton continues to fall, and here are five of the most affordable places that sold last month in Milton, Burlington, Oakville and Halton Hills. Here are five of the least expensive homes that sold in the region during August: 331-2486 Old Bronte Rd., Oakville, $513,000 Spacious, one-bedroom condo with open layout […]
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Just two blocks south of Taylor Creek is this adorable piece of history.
Built in 1897, 23 Midburn Ave. was once the gardener's cottage for the Wa...
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With the Bank of Canada’s interest rate hikes aimed at fighting inflation, the housing market in Canada experienced a slight drop in prices, according to a new report from Century 21 Canada.
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There's a $1,000 difference between the cheapest and most expensive neighbourhoods in Vancouver.
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The province promised to spend $3 million over the next two years to help up to 750 renter households annually avoid eviction or obtain new rental accommodations. The program was announced without a timeline, eligibility criteria or repayment terms. As recently as July 31, the province couldn’t confirm when the rent bank will be available.
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This 5,600-square-foot property is surrounded by gardens and comes with original arched doorways, 10-foot ceilings and a finished basement with a separate entrance
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This month, the UTPro Montly Reports turn our lens on seven data-rich municipalities in the Greater Toronto and Hamilton Area: Hamilton, Mississauga, Markham, Brampton, Pickering, Oakville, and Burlington, along with Toronto, and finds big numbers.
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Bruce Barnard has been renting rooms in his home to students since 2014. Before that, he owned the Painted Turtle Guesthouse in downtown Nanaimo, providing accommodation for 110,000 guests from around the world. He says renting to students is a great way for him and his family to learn different perspectives and meet new people. He’s currently looking for another long-term
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Greater Toronto real estate prices are suddenly back to correcting, despite a mini-boom. Toronto Regional Real Estate Board (TRREB) data shows home prices fell in July. Rising interest rates are the first thought, but home sales are still climbing. Home buyers just aren’t able to keep up with sellers—new listings are climbing much faster than […]
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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
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