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Toronto's Real Estate Ablaze: Daily Ignition!"Charting Your Course to Home Success: Free Reports & Irresistible Listings!""Toronto's Real Estate Ablaze: Daily Ignition" is your daily source of ignition into the hottest and most impactful updates in the Toronto real estate market. Each day, we provide you with a curated selection of updates that set the market ablaze, featuring the hottest trends, market insights, and critical updates delivered directly to your inbox. Whether you're a potential buyer, seller, investor, or a real estate enthusiast, our "Daily Ignition" series covers a wide range of topics, from igniting market dynamics to sparking investment opportunities and expert analysis. Stay on fire and make well-informed decisions with "Toronto's Real Estate Ablaze: Daily Ignition" as your trusted resource for navigating the dynamic Toronto real estate landscape. Beyond the closing process, there are several lesser-known additional costs associated with homeownership in Toronto. These costs can impact a homeowner's budget over the long term. Here are some considerations: Property Taxes: Property taxes are a recurring expense that homeowners must pay to the municipality. The amount is based on the assessed value of the property and is subject to change. Homeowners Insurance: While homeowners insurance is a well-known cost, homeowners should be aware that premiums can vary based on factors such as the property's location, age, and the coverage selected. Utilities: In addition to the mortgage, homeowners are responsible for utilities such as water, electricity, gas, and waste disposal. The cost of utilities can fluctuate based on consumption and seasonal changes. Maintenance and Repairs: Homeownership comes with the responsibility of maintaining the property. This includes routine maintenance tasks (e.g., lawn care, gutter cleaning) and unexpected repairs. Having a financial cushion for such expenses is crucial. Homeowners Association (HOA) Fees: If the property is part of a homeowners association, there may be monthly or annual fees. HOA fees typically cover common area maintenance, amenities, and community services. Special Assessments: In some cases, homeowners may face special assessments from the homeowners association for unexpected repairs or improvements to the community. Condo Fees: For condominium owners, monthly condo fees cover shared expenses like maintenance of common areas, amenities, and sometimes utilities. It's important to budget for these fees. Landscaping and Yard Care: Depending on the property, homeowners may need to invest in landscaping and yard care, whether through personal effort or by hiring professionals. Home Security: Installing and maintaining a home security system may be a cost to consider for added safety. Furnishing and Decor: Moving into a new home often involves furnishing and decorating costs. These may not be immediate expenses but can add up over time. Appliance Replacement: Homeowners should budget for the eventual replacement of appliances as they age and wear out. Internet and Cable Services: Monthly fees for internet and cable services are recurring costs that homeowners should factor into their budget. Mortgage Insurance: Depending on the down payment made at the time of purchase, homeowners may need to pay for mortgage insurance, such as CMHC insurance in Canada.
Understanding and budgeting for these ongoing costs is essential for maintaining financial stability and enjoying a positive homeownership experience in Toronto or any real estate market. It's advisable for homeowners to regularly review their budget and make adjustments as needed.
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Credit and debt history can impact relationships. Find out how your partner’s credit affects you and what can be done to limit possible damage to your score.
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Should you go for a fixed or variable mortgage; a three-year or five year term? It's hard to say. Here's how to decide.
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Beem Credit Union is trying to give first-time homebuyers a leg up when it comes to getting into the market.
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When a landlord applies for an AGI after improvements, they can request a total nine per cent increase to be spread out over three years.
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Foreign nationals and companies will be banned from buying residential properties in Canada for an additional two years, the federal finance minister said Sunday.
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The outlook for younger buyers regarding homeownership in Canada is not an optimistic one. A January 2024 report from research group, Made In CA, found that:
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Three people are facing more than 350 criminal code charges and were arrested on more than 50 outstanding warrants related to frauds involving rentals and stolen identification throughout southern Alberta.The investigation began in 2022 when officers uncovered a fraudulent document manufacturing lab containing credit card embossers, scanners, el...
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This article is the latest in our ongoing joint investigation into Airbnb and the housing crisis. Please make a donation today, and help us do more investigative journalism from the front lines of the housing crisis.
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The home is nearly 9,000 square feet.
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Here are five of the most expensive homes sold in Mississauga last month.
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The claim alleges that commission rules are “anti-competitive and have harmed home sellers, even though the cooperating commission is the subject of negotiation“
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January was another quiet month for real estate in Waterloo Region, according to the Waterloo Region Association of Realtors.
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The 2,400-square-foot property also comes with a psychedelic powder room, a deck with a fire pit and a backyard rink for shinny
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Realtors report everything from tenants refusing showings of their homes to racism with well-qualified, visible minority tenants jumping through hurdles to find a rental
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In an effort to address Canada's housing crisis, the government has just extended the ban on foreign ownership by another two years.
The ban, which...
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Despite push-back from the Bank of Canada against aggressive rate-cut predictions, a majority of influential economists and analysts still expect rates to start falling by April.
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Belleville and Quinte West rental vacancy rates continue to be low but are still faring better than the national rental rates of availability, according to latest statistics from Canada Mortgage and Housing Corporation.
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Canada is experiencing record population growth but unusually slow mortgage growth. Bank of Canada (BoC) data shows that outstanding residential credit growth slowed even further in November. It marked the slowest rate observed by Canadians in over two decades. Canadians Owe $2.26 Trillion In Residential Mortgage Debt Canadian mortgage credit continues to advance despite elevated […]
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Real estate moguls face mounting lawsuits
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If you want to know your RRSP contribution limit for 2023 (and earlier), there’s no better time than the present to figure out the details.
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Rate hikes are over. Rate drops are coming. Will a variable rate help you save more — or sleep less?
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Considering a pre-construction condo on an installment plan? Equip yourself with essential knowledge to make the right decision for you.
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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!"
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