🌷 14th June 2024 - Early Spring Vs Late Spring: Analyze And See How This Timing Affects Your Market!

💥 Friday 14th June 2024 💥 Toronto Real Estate Fixer Upper - Myths & Facts! Toronto's Daily Real Estate Hot Topics! "Your Real Estate Edge: Free Reports & Sizzling New Listings!" "Toronto's Daily Real Estate Hot Topics" brings you the latest and most relevant discussions in Toronto's bustling real estate market every day. Stay informed with our curated updates on market trends, property insights, investment opportunities, and regulatory changes affecting the Toronto area. Whether you're a buyer, seller, investor, or simply interested in the real estate landscape, our daily updates ensure you're always in the know about what matters most in Toronto's dynamic real estate sector. Are There Misconceptions Surrounding the Financial Viability and Return on Investment (ROI) of Fixer Upper Projects That Need to Be Addressed? Yes, there are several misconceptions surrounding the financial viability and return on investment (ROI) of fixer-upper projects that need clarification: Underestimating Costs: One common misconception is underestimating the total renovation costs involved in fixing up a property. Often, novice investors or homebuyers fail to account for all necessary repairs, upgrades, and unforeseen expenses, which can significantly inflate the total investment. Overestimating DIY Savings: While DIY renovations can save money on labor costs, they often require significant time, skill, and resources. Overestimating savings from DIY work can lead to delays, increased costs, and potential compromises in quality. Overestimating Potential Profit: There's a belief that every fixer-upper property will yield substantial profits upon resale. However, market conditions, location, and the extent of renovations play crucial roles in determining the final selling price. Overestimating potential profits can lead to disappointment if the property doesn't sell for the expected amount. Ignoring Hidden Costs: Fixer-upper properties may come with hidden costs such as permits, zoning regulations, structural issues, and environmental concerns. Ignoring these costs can lead to legal issues, fines, or delays in the renovation process. Time and Opportunity Costs: Renovating a fixer-upper property takes time, and during this period, the property may not generate rental income or appreciate in value as expected. Investors often overlook the opportunity cost of tying up capital in a lengthy renovation project. Risk of Over-Improvement: Some investors may over-improve the property by adding high-end finishes or features that exceed the neighborhood's market value. This can result in diminishing returns on investment if the property doesn't attract buyers willing to pay for those upgrades. Financing Challenges: Securing financing for fixer-upper projects can be more complex than for move-in ready homes. Lenders may impose stricter requirements, higher interest rates, or limit the amount of financing available based on the property's condition. To address these misconceptions, potential investors should conduct thorough research, perform a detailed cost-benefit analysis, consult with real estate professionals, and realistically assess their renovation skills and resources. It's crucial to have a well-defined renovation plan, budget contingency funds for unexpected expenses, and carefully evaluate the potential ROI based on current market conditions and comparable property sales in the area. Early spring vs late spring: Analyze and see how this timing affects your market - REM There’s a certain point where you pass the peak of the spring market — you just need to take the time to analyze the numbers realestatemagazine.ca Read More ... This unassuming $1 million Toronto home hides a stunning modern interior This Toronto home looks like a tiny little cottage-style bungalow from the street. But don't be fooled, as 421 Craven Rd. is way cooler than first ... blogto.com Read More ... Family cottages and the impact the capital gains tax changes could have | Globalnews.ca With the increase in the capital gains inclusion rate moving forward, those with family cottages are facing a larger tax bill when they pass it on to family or sell for retirement. globalnews.ca Read More ... We asked an economist if the capital gains tax changes will really generate nearly $20B The Liberal government says changes to the capital gains tax will only affect less than one per cent of Canadians and generate nearly $20 billion in new revenue. We asked an economist how accurate that is. ctvnews.ca Read More ... Photo Gallery: Tenants' year-long battle over Above Guideline Rent Increases For more than a year, a group of tenants at three buildings in Toronto’s Thorncliffe Park Drive have withheld rent to protest what they say are above guideline rent increases being sought by their landlords. Starlight Investments and PSP Investments are goliaths among Canadian real estate owners, holding $28 billion of assets under management, with a portfolio of over 66,000 multi-residential suites. Starlight Investments maintain that they are following the provincial laws in their pursuit of Above Guideline Rent Increases (AGIs). ca.news.yahoo.com Read More ... Toronto home selling for $500k less than purchase price after failed attempts to sell Despite a short-lived pick-up in Toronto's real estate market activity last spring, buyers throughout the city continue to benefit from increased c... blogto.com Read More ... Younger homeowners more likely to be financially stressed: survey - Mortgage Rates & Mortgage Broker News in Canada Roughly six in 10 Canadians with a mortgage are financially stressed, with younger homeowners more likely to be under pressure.  canadianmortgagetrends.com Read More ... This completely gutted shell of a Toronto home is going for $700,000 It's no secret that Toronto's real estate market is a mess. The Toronto Regional Real Estate Board (TRREB) figures from May showed that sales of co... blogto.com Read More ... 'Enchanting' Mississauga home on sale for $15 million the most expensive on Peel real estate market the past 30 days and includes putting green, 7 bathrooms, 21 parking spots The property is on the market for the first time ever. mississauga.com Read More ... ‘They need to wake up’: Couple frustrated by secondary suite bylaws in Halifax A Halifax-area couple are calling on the municipality to be more flexible in helping families create affordable housing, after facing roadblocks in building a secondary suite. msn.com Read More ... Comment: Homeownership is the key to a better future Multiple studies have established that homeowners have much better socioeconomic outcomes, have higher life satisfaction, are healthier. timescolonist.com Read More ... Home ownership on the decline in Greater Sudbury Greater Sudburians have been following a national trend that has seen an increasing proportion of residents renting rather than owning their homes in recent years sudbury.com Read More ... Mississauga house price drops over $200k in one year | insauga An upgraded Mississauga house that was listed for close to $1.5 million last year was recently re-listed for about $1.3 million–a drop of about $200,000.  Recently, real estate website and brokerage Zoocasa released a list of GTA homes that were re-listed for at least $50,000 less after not selling at the higher price point. One […] insauga.com Read More ... May RE/MAX monthly update: Increased inventory ‘great for the buyer coming into the market’ This series is sponsored by RE/MAX Kelowna The month of May saw little change in the housing market compared to a year ago said Jerry Red. kelownanow.com Read More ... Boston man charged in rental scam in Peterborough, Ont., more victims likely: police - Peterborough | Globalnews.ca Police say victims responded to an ad on Facebook Marketplace for an apartment for rent in the area of Brock and Reid streets. They each paid money but never received access. globalnews.ca Read More ... With rents soaring across Canada, some people are getting priced out For months, Nathan Armstrong has been scrolling through apartment listings from a tiny motel room in Woodstock, Ont. He and his wife have had to live there for more than a year as they desperately look for a place to rent. "There's not a lot out there, and they seem to be going up. Fifteen, seventeen, nineteen hundred dollars for a one bedroom apartment," he said. "Our price range is disappearing." Armstrong described the situation as frustrating and costly. The couple couldn't even prepare thei ca.movies.yahoo.com Read More ... After rents skyrocketed, London market shows signs of cooling down Rents in London seem to be stabilizing, settling about $400 below national levels, the latest snapshot of Canada’s rental market shows. lfpress.com Read More ... This completely gutted shell of a Toronto home is going for $700,000 It's no secret that Toronto's real estate market is a mess. The Toronto Regional Real Estate Board (TRREB) figures from May showed that sales of co... blogto.com Read More ... Affordability is now worse than ever in Ontario as bill delinquency and debt soars More and more people are finding themselves unable to pay their mortgages in Ontario as our real estate prices and overall cost of living remain to... blogto.com Read More ... Bank of Canada Warns Interest Rates Won’t Return To Pre-Pandemic Levels - Better Dwelling Global inflation is easing, and lower rates are on the horizon, but those who didn’t take advantage missed out. That was the message from the Bank of Canada (BoC) Governor, speaking at the International Economic Forum of the Americas yesterday. Governor Tiff Macklem told the conference that central banks have made significant progress on inflation, […] betterdwelling.com Read More ... 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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 Info & 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 SearchRealEstateInToronto.ca | Rent-To-Own Homes | ManojAtri.ReMaxHallmarkRealty.ca  Social Media: Facebook Profile • Blog • Pinterest • Tumblr Subscribe To My FREE Daily Curated Hot News Articles e-Newsletter! © Copyright 2023 ManojAtri.com All rights reserved. "Disclaimer: Articles in this newsletter are generated by AI." If you no longer wish to receive these Emails, please Unsubscribe Here