📢 31st July 2024 - 30-Year Mortgage Amortizations Available For First-Time Homebuyers In Canada Starting Aug. 1

💥 Wednesday 31st July 2024 💥 Your Guide To Toronto GTA Real Estate! Daily Hot Headlines: Toronto Real Estate! "Stay Informed, Make Smart Moves: Free Reports & Exclusive Listings!" "Daily Hot Headlines: Toronto Real Estate" brings you the most important and current news in the Greater Toronto Area's real estate market. Our daily newsletter highlights key trends, emerging opportunities, and expert insights, ensuring you're well-informed about the latest developments. Whether you're buying, selling, investing, or just interested in the market, our curated selection of news and analysis will keep you up-to-date. Stay ahead in the real estate game with "Daily Hot Headlines: Toronto Real Estate." What are the most important considerations for first-time homebuyers in Toronto, and how can they best prepare for their purchase? First-time homebuyers in Toronto should focus on several key considerations to ensure a successful purchase. Here's a detailed guide to help them prepare effectively: 1. Understanding the Market Research Neighborhoods: Familiarize yourself with various neighborhoods in Toronto. Consider factors such as proximity to work, schools, amenities, and public transportation. Market Trends: Stay informed about current market trends, including average home prices, market demand, and the economic factors affecting the real estate market. 2. Financial Preparation Budgeting: Determine how much you can afford to spend on a home, including the down payment, monthly mortgage payments, property taxes, and insurance. Down Payment: Save for a down payment. In Toronto, the minimum down payment varies based on the home's price, but aiming for at least 20% is ideal to avoid high-ratio mortgage insurance. Pre-Approval: Get pre-approved for a mortgage to understand how much you can borrow and show sellers you are a serious buyer. 3. Understanding Additional Costs Closing Costs: Be aware of closing costs such as land transfer taxes, legal fees, home inspection fees, and moving expenses. Maintenance and Repairs: Budget for ongoing maintenance and potential repairs that will arise after purchasing the home. 4. Finding the Right Property Criteria: Define your needs and wants, such as the number of bedrooms, type of property (condo, townhouse, detached home), and must-have features. Property Search: Utilize online property listings, visit open houses, and work with a real estate agent who specializes in the Toronto market to find suitable options. 5. Legal and Contractual Aspects Home Inspection: Hire a professional home inspector to assess the condition of the property and identify any potential issues. Legal Representation: Engage a real estate lawyer to review contracts, handle legal paperwork, and ensure that all aspects of the transaction are legally sound. 6. Negotiation and Offer Offer Strategy: Be prepared to make a competitive offer based on the market conditions and property value. Your real estate agent can provide guidance on making a strong offer. Contingencies: Include any necessary contingencies in your offer, such as financing or inspection contingencies, to protect your interests. 7. Emotional Preparedness Expectations: Be realistic about what you can afford and the trade-offs you might need to make. Patience: The home-buying process can be lengthy and stressful. Stay patient and flexible throughout the process. 8. Post-Purchase Move-In: Plan your move and consider any immediate renovations or improvements you may want to make. Utilities and Services: Set up utilities, services, and address any changes in address for mail and other essential services. By addressing these considerations and preparing thoroughly, first-time homebuyers in Toronto can navigate the real estate market more effectively and make informed decisions throughout the home-buying process. 30-year mortgage amortizations available for first-time homebuyers in Canada starting Aug. 1 First-time homebuyers buying a new build will be able to get 30-year mortgage amortizations insidehalton.com READ MORE... Toronto's Pre-Construction Condo Trends for 2024: A Handbook for Homeowners & Renters! Discover the 2024 trends of pre-construction condos in Toronto. Learn about their benefits, financial advantages, and tips for savvy homeowners & renters! marketbusinessnews.com READ MORE... Airbnb operator says he's facing losses of hundreds of thousands of dollars because of B.C.'s new short-term rental laws Steve Nguyen runs two Airbnb units in a downtown Victoria apartment building, including one decorated and paying homage to the television show 'Friends.' He says he’s still reeling from the news he soon won't be able to operate it as a short-term rental since he doesn’t live there. bc.ctvnews.ca READ MORE... Saskatoon real estate agents accused of mortgage fraud A pair of Saskatoon real estate agents have been charged with multiple counts of fraud following a two-year police investigation. saskatoon.ctvnews.ca READ MORE... Over 80% of Toronto area investors are losing money on new condos A new report from CIBC and Urbanation released on Thursday reveals that the majority of condo investors in the GTA are losing money every month as ... blogto.com READ MORE... More Quebec landlords refusing tenants with any rental board record | CBC News Tenants' rights advocates say landlords openly using records from Quebec's housing tribunal against prospective renters is cause for concern. Though it's recommended landlords do background checks, advocates worry about discrimination. cbc.ca READ MORE... Chrystia Freeland Introduces 30-Year Mortgages, But What Could Be The Real Cost? Finance Minister Chrystia Freeland has announced that starting August 1st, lenders will begin offering 30-year mortgages in a significant shift for the Canadian housing market. This move aims to ma… thedeepdive.ca READ MORE... Exorbitant development and investor costs are bringing Toronto’s condo market to a grinding halt, new report says  Toronto’s condo market is experiencing deteriorating sales not seen in decades, according to a new report. nowtoronto.com READ MORE... Varcoe: As Calgary rent increases cool, sale of $1M homes heats up Two divergent trends are now playing out in Calgary’s housing market, as blistering rent increases are finally slowing down, while the sale of $1 million-plus homes is taking off. The latest report by Rentals.ca finds price increases in Calgary’s rental market cooled to the lowest annual level in more than two years in June. Average rents rose by four per cent to average almost $2,100. While the increase is above the annual rate of inflation,... msn.com READ MORE... Here are the best Ontario cities to rent in for affordability and quality of life: report - NOW Toronto Chatham-Kent, Whitby and North Bay are all prime Ontario locations that renters should keep their eyes on, according to a new report.  nowtoronto.com READ MORE... This $2 million Toronto home is known as the 'Origami House' When Greendot Architects' Titka Safarzadeh and Saied Mahboubi were approached by their client to re-imagine 269 Coleridge Ave. in Toronto, they had... blogto.com READ MORE... The Landlord's Dilemma: Renting to People With Pets Many property owners listen to their "gut" and won't rent to tenants with pets. Data, however, show that pet-friendly housing is good for everyone involved. psychologytoday.com READ MORE... Toronto-area condo rents dip for 1st time in 3 years: Urbanation | Globalnews.ca The report from Urbanation Inc. says average condo rents on new leases in the Greater Toronto and Hamilton area were down 1.2 per cent in the second quarter compared with 2023. globalnews.ca READ MORE... Home collapses; over $640,000 awarded due to water damage from neighbouring property Learn about the duty of care between neighbours and the potential consequences of failing to prevent property damage realestatemagazine.ca READ MORE... History Suggests Stressful Times for the Canadian Housing Market /CNW/ - Mark Twain once said, "History doesn't repeat itself, but it often rhymes." While he wasn't specifically talking about interest rate cycles, many... newswire.ca READ MORE... Toronto lawyer ordered to pay more than $1M after clients said he kept money from real estate, business deals | CBC News A Toronto lawyer well-known in the Chinese community is accused of keeping clients' money after helping them close real estate and business transactions. He's been ordered to pay them more than $1 million, but hasn't. cbc.ca READ MORE... This abandoned-looking Toronto house is going for $2 million The last time this Toronto home at 106 Willow Ave. was on the market was 2015, when it was listed for $799,000.  It was advertised as a "newly... blogto.com READ MORE... Ontario house sold at a significant loss after 5 failed attempts to sell A well-supplied GTA housing market throughout the spring and early summer meant that prospective home buyers benefitted from substantial choice and... blogto.com READ MORE... Canadian banking giant hit by downgrade Stock tumbles after analyst's verdict mpamag.com READ MORE... Big Five Banks Back Most of Toronto’s Negative Cash Flow Condo Investors  - Better Dwelling Canada’s banks have dominated Greater Toronto’s investor mortgage market. CIBC data shows the Big Five captured 75% of investor mortgages on condos completed in Toronto in 2023. There’s just one problem-most of those mortgages are cash flow negative—the rent fails to match the payment, property taxes, and maintenance fees on the unit. The Big Five […] betterdwelling.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