🤔 27th June 2024 - Who’s happier, homeowners or renters? Data says it’s complicated!

💥 Thursday 23rd May 2024 💥 Rent-To-Own Homes Toronto Hot News: Greater Toronto Real Estate Daily! "Your Path to Home Ownership: Free Reports & Hot New Listings!" "Hot News: Greater Toronto Real Estate Daily" delivers the most up-to-date and impactful news from the GTA real estate market right to your inbox. Every day, we bring you the hottest trends, key insights, and essential updates, ensuring you stay informed about the latest developments. Whether you're a homebuyer, seller, investor, or real estate enthusiast, our daily digest provides the crucial information you need to navigate the dynamic GTA market. Stay ahead with "Hot News: Greater Toronto Real Estate Daily." Can tenants with less-than-perfect credit histories or financial backgrounds still qualify for rent-to-own homes, and what steps can they take to improve their chances of approval? Yes, tenants with less-than-perfect credit histories or financial backgrounds can still qualify for rent-to-own homes. However, they may face additional challenges in securing such agreements. Here are some steps they can take to improve their chances of approval: Steps to Improve Chances of Approval Improve Your Credit Score: Check Credit Reports: Obtain copies of your credit reports from the major credit bureaus (Equifax, TransUnion, and Experian) and review them for errors. Dispute any inaccuracies to improve your score. Pay Down Debt: Focus on paying down existing debts, especially high-interest credit card balances, to lower your debt-to-income ratio. Make Timely Payments: Ensure all your bills, including utilities and loans, are paid on time to establish a positive payment history. Increase Your Savings: Save for a Larger Deposit: Demonstrating a substantial savings amount can show the seller that you are financially responsible and capable of handling the future purchase. Create an Emergency Fund: Having a separate fund for emergencies can provide additional reassurance to the seller about your financial stability. Demonstrate Stable Income: Steady Employment: Maintain consistent employment or a stable source of income to show reliability. Additional Income Sources: Highlight any additional sources of income, such as freelance work or a side business, to strengthen your financial profile. Provide References: Landlord References: Obtain positive references from previous landlords to demonstrate your reliability as a tenant. Professional References: Letters of recommendation from employers or colleagues can also bolster your application. Offer a Higher Option Fee: Option Fee: Offer to pay a higher option fee (typically 1-5% of the purchase price) upfront. This non-refundable fee shows your commitment and can make the seller more inclined to approve your application. Be Transparent: Explain Credit Issues: Provide a clear and honest explanation for any past credit issues. Sellers may be more understanding if they see that the problems were due to exceptional circumstances and are now being managed. Seek Pre-Approval: Mortgage Pre-Approval: If possible, get pre-approved for a mortgage. This shows sellers that you are taking steps toward eventual homeownership and increases their confidence in your ability to complete the purchase. Choose the Right Property and Seller: Flexible Sellers: Look for properties with sellers who are more flexible and open to working with tenants who have credit challenges. Reasonable Terms: Ensure the rent-to-own agreement has terms that are reasonable and achievable for your financial situation. Improving the Rent-to-Own Agreement Negotiate Terms: Flexible Terms: Negotiate terms that allow for some flexibility in case of financial difficulties. This could include grace periods for late payments or the option to extend the rental period before purchasing. Hire a Real Estate Attorney: Legal Advice: Consult with a real estate attorney to review the rent-to-own contract. They can ensure that the terms are fair and protect your interests. Financial Counseling: Counseling Services: Utilize financial counseling services to help you budget, save, and manage your finances more effectively. Many non-profit organizations offer free or low-cost counseling. By taking these proactive steps, tenants with less-than-perfect credit histories or financial backgrounds can improve their chances of qualifying for rent-to-own homes and successfully transitioning to homeownership. Who’s happier, homeowners or renters? Data says it’s complicated - National | Globalnews.ca In data collected from January to June of 2021, survey respondents were asked to rate their satisfaction levels on a scale of 0 (lowest satisfaction) to 10 (highest satisfaction). globalnews.ca READ MORE ... New home sales plummet to 6-month low amid high mortgage rates New home sales hit a six-month low as high mortgage rates continued to weigh on buyers. ca.finance.yahoo.com READ MORE ... New condo tower would float impossibly over 120-year-old Toronto apartments A beloved architectural gem dating back to the turn of the 20th century could become the base for a new condo building if a new development proposa... blogto.com READ MORE ... Townhouse sold at big loss shows how much prices change in GTA | Urbanized A Mississauga townhouse sold at vastly different price points over two years shows how much real estate prices in the GTA tend to fluctuate. dailyhive.com READ MORE ... Inside Toronto's slumping condo market There’s a record number of Toronto condominiums on the market right now, and despite record immigration, and an ever-worsening housing crisis, nobody seems to want to buy them. Diana Zlomislic is a housing reporter for The Toronto Star. “I think what happens with the central bank, whether they continually reduce the lending rate over the […] vancouver.citynews.ca READ MORE ... Average price of homes in Newmarket dipped in May Price of detached homes dropped, while semi-detached and townhouses increase newmarkettoday.ca READ MORE ... Half of GTA residents would move to one of Canada's more affordable cities: Survey Working remotely from a home in a city that’s cheaper to live in than Toronto and its surrounding communities has a lot of appeal for many GTA residents, according to a survey. A Royal LePage survey found 51% of GTA respondents said if they could work remotely, they’d consider buying property in one of the 15 cities identified by the real estate company’s 2024 Most Affordable Canadian Cities Report. The top choices for GTA respondents were... msn.com READ MORE ... Experts warn shockingly low home sales in Toronto will lead to housing supply problems The status of Toronto's real estate market has been worrying stakeholders for months, especially because it hasn't led to any substantial price dec... blogto.com READ MORE ... Toronto New Home Sales Fall 71% & Inventory Rises, Weakest Demand Ever - Better Dwelling Greater Toronto real estate can’t catch a break these days. The latest data from developer intelligence firm Altus Group and the regional developer group BILD GTA, shows Toronto new home prices slipped lower in May. Weak demand at this price level has pushed sales this year to the weakest level on record. It’s not for […] betterdwelling.com READ MORE ... Rate cut still not enough to entice Toronto buyers back into the market While some may have thought the central bank’s rate cut would jumpstart Toronto’s real estate market, realtors say that just isn’t happening. streetsoftoronto.com READ MORE ... Montreal tenant finally agrees to move after 5-year fight with real estate giant | CBC News Montreal tenant Carla White has agreed to move out of her longtime apartment on Ste-Catherine Street after a long battle with one of the city's largest real estate developers that included a $20,000 offer to leave. cbc.ca READ MORE ... Expect more interest rate cuts — as Canada's economy grows at a slow, steady pace TD analysts predict more interest rate cuts in 2024 and 2025, but relief for consumers facing tighter budgets will trickle out slowly money.ca READ MORE ... Toronto New Home Sales Fall 71% & Inventory Rises, Weakest Demand Ever - Better Dwelling Greater Toronto real estate can’t catch a break these days. The latest data from developer intelligence firm Altus Group and the regional developer group BILD GTA, shows Toronto new home prices slipped lower in May. Weak demand at this price level has pushed sales this year to the weakest level on record. It’s not for […] betterdwelling.com READ MORE ... ‘The rooms are on fire,’ Toronto residents are calling on the city to implement a max temperature bylaw ahead of next heat wave - NOW Toronto Toronto residents are calling on the city to implement a maximum temperature requirement in every apartment building in the event of another heat wave. nowtoronto.com READ MORE ... Adorable Toronto home listed for only $600K after selling for $925K two years earlier In 2022, this small but freshly renovated home in Toronto's East Danforth area sold for $925,000. The owners had updated pretty much everything in ... blogto.com READ MORE ... Here's why another Bank of Canada rate cut is still unlikely until fall The Bank of Canada is easing its policy stance as the economy shows signs of recovery, and after lowering the interest rate to 4.75 per cent in Jun... blogto.com READ MORE ... Toronto city council votes to crack down on bad faith evictions, up rental housing supply | CBC News City council voted Wednesday in favour of creating regulations against certain bad faith evictions, and spending about $350 million to speed up development of rental housing supply. cbc.ca READ MORE ... A Third of Canadian First-Time Homebuyers Need 6-Figure "Gifts": CIBC - Better Dwelling Are you a Canadian having a hard time buying your first home? Have you tried getting wealthier parents? CIBC crunched its numbers and found the role of parental wealth is playing a more important role for both first-time buyers and “mover uppers.” Canadian real estate has become so unaffordable that now a third of first-time […] betterdwelling.com READ MORE ... More rate cuts are coming – but will they ease mortgage renewal pain? Deloitte's forecast highlights challenges for Canadian homeowners mpamag.com READ MORE ... As inflation unexpectedly rises, what's next for the Bank of Canada? Could a July rate cut be off the table? mpamag.com 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 GTA 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 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