👩‍👧 3rd Sep 2024 - Ontario Mother Still Paying Rent, Despite Not Being Able To Live In Mouldy Home!

💥 Tuesday 3rd September 2024 💥 Extra Home Buying Costs - FREE Report! Daily Hot Flash: Toronto Real Estate Buzz! "Empower Your Home Search: Expert Reports & Premier Listings!" "Daily Hot Flash: Toronto Real Estate Buzz" delivers a rapid, concise update on the latest developments in Toronto’s real estate market. Each day, we highlight the most significant trends, hot properties, and market movements, ensuring you have the most current and relevant information at your fingertips. From urgent news flashes to key insights, our daily buzz keeps you connected to the pulse of Toronto's dynamic real estate landscape. Perfect for anyone looking to stay ahead in the market, this newsletter is your essential guide to Toronto's hottest real estate opportunities. Are There Circumstances Where Homebuyers Might Face Unexpected Costs After a Successful Home Inspection? Yes, even after a successful home inspection, homebuyers can encounter unexpected costs. Here are some common scenarios where additional expenses might arise: 1. Post-Inspection Issues Hidden Problems: Some issues may not be apparent during the inspection, such as hidden mold, structural problems, or plumbing issues that only become evident after the purchase. Deferred Maintenance: The home inspection might reveal deferred maintenance items that were not addressed by the seller, leading to additional costs for repairs. 2. Changes in Property Conditions Weather-Related Damage: Weather events (like heavy rains or storms) can cause unexpected damage or exacerbate existing issues after the inspection. Utility Costs: Utility systems such as heating, cooling, and water may reveal inefficiencies or issues only after extended use. 3. Unforeseen Repairs Renovations: Plans for future renovations or upgrades might reveal additional costs once work begins. For example, you might find that older wiring needs to be replaced or that the home requires additional insulation. Pest Infestations: Sometimes, pest issues like termites or rodents are discovered after purchase, leading to unexpected treatment and repair costs. 4. Additional Inspections or Assessments Specialized Inspections: If the general inspection uncovers concerns, you might need to hire specialists (e.g., mold experts, structural engineers) for more detailed assessments, which can lead to additional costs. Environmental Tests: Tests for radon, lead, or other environmental hazards may be required if initial inspections raise concerns. 5. Legal and Compliance Issues Building Code Violations: If the home has code violations or unpermitted work, you may need to address these issues to bring the property into compliance. Title Issues: Problems with the property's title, such as unresolved liens or disputes, can result in legal fees and additional costs to resolve. 6. Move-In Costs Immediate Repairs: You may need to address issues immediately upon moving in, such as fixing broken appliances, repairing damaged floors, or updating outdated fixtures. Safety Improvements: Making the home safe for children or pets may require additional expenses, such as installing safety gates, securing railings, or updating locks. 7. Insurance and Taxes Higher Insurance Costs: Some homes, especially those in high-risk areas (e.g., flood zones), may have higher insurance premiums than anticipated. Property Taxes: Unexpected changes in property tax assessments can also impact your overall budget. Mitigation Strategies: Budget for Contingencies: Set aside a portion of your budget for unexpected costs and repairs. A common recommendation is to reserve 1-3% of the home's purchase price for potential issues. Review the Inspection Report Thoroughly: Carefully review the home inspection report and discuss any concerns with your inspector to understand potential future issues. Obtain Seller Disclosure: Ensure the seller provides a disclosure statement detailing known issues with the property. Consider a Home Warranty: A home warranty can provide coverage for certain repairs or replacements, offering additional peace of mind. By being proactive and prepared for potential unexpected costs, you can better manage your homebuying experience and address issues that may arise after the inspection. Ontario mother still paying rent, despite not being able to live in mouldy home | Daily Guardian A Cambridge, Ont. woman has been renting a home for six months but hasn’t been able to live in it. dailyguardian.ca READ MORE ... Lawyer couple found in contempt of court in real-estate fraud case | CBC News Toronto lawyers Nicholas Cartel and Singa Bui, accused of embezzling nearly $7 million from real estate clients, have been found in contempt of court for failing to answer questions about where the money went. cbc.ca READ MORE ... Outrage after Ontario landlord rents out room with four beds side by side A Brampton landlord is facing heated backlash on social media for advertising a basement apartment packed with four mattresses side by side, with m... blogto.com READ MORE ... FIRST PERSON | I split with my husband 15 months ago. Calgary's hot rental market means we still share a roof | CBC News When Tammy Nelson split with her husband, she tried to move on and start a life of her own. But Calgary's expensive rental market means they're still sharing a roof and she's looking for other ways to gain that sense of freedom. cbc.ca READ MORE ... Three Toronto apartment buildings around for almost a century for sale at $17 million Three four-storey apartment buildings in Toronto's The Beaches neighbourhood just hit the market, and they're actually surprisingly nice.  Normally... blogto.com READ MORE ... Average rents in St. Catharines down 1.4 per cent in July year-over-year: Report Canada-wide rents experienced a 0.2 per cent month-over-month increase and a rather modest 3.5 per cent year-over-year increase. Photo Credit: iStock.  The average one-bedroom rent in St. Catharines was down 0.9 per cent month-over-month to $1,713 in July 2024, according to the latest Rentals.ca market update. One-bedroom rents are also down 1.4 per cent year-over-year […] niagaraindependent.ca READ MORE ... This Week's Top Stories: Canada Slows Population Growth, & Toronto New Home Demand Tanks - Better Dwelling Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Government Spending Now 80% of GDP Growth  Canada’s economy grew faster than expected but still showed recession-like behavior. Annualized real GDP growth came in at 2.1% for Q2 2024, much higher than market expectations. However, the details were less flattering with […] betterdwelling.com READ MORE ... This $3.75 million Toronto condo has a huge terrace and its own private sauna While 1181 Queen St. might have the most expensive condos per square foot compared to all the others in the neighbourhood, there's a reason for tha... blogto.com READ MORE ... As interest rates trend down, could housing get more affordable? Forecasters are expecting further Bank of Canada interest rate cuts, but does that mean it's a good time to buy or sell a home? Real estate analyst Jason Mercer shares his predictions with CTV Your Morning. ctvnews.ca READ MORE ... Tight rental market continues to squeeze already cash-strapped London students | CBC News Students near Fanshawe College and Western University tell CBC News the market for student-friendly rentals that are both affordable and close to school feels as if it's shrinking. cbc.ca READ MORE ... A Constance Bay homeowner drew a line in the sand. Is it legal? | CBC News A fence that runs across the sand and into the water at a Constance Bay beach colloquially known as The Point has some questioning whether waterfront property owners have the legal right to build structures on the shorelines that front their properties. cbc.ca READ MORE ... Realtors Are Throwing in the Towel: TRREB Membership Drops for First Time in Years as Market Cools The Toronto Regional Real Estate Board (TRREB) saw its first year-over-year membership decline since at least 2016, with 1,363 fewer members in July 2024.  Scott Ingram, a TRREB member and cha… thedeepdive.ca READ MORE ... Canadian home sales down 0.7% in July, CREA data shows OTTAWA (Reuters) - Canadian home sales fell 0.7% in July from June, and rose 4.8% on an annual basis, data from the Canadian Real Estate Association (CREA) showed on Thursday. The industry group's home price index edged up 0.2% on the month and fell 3.9% on an annual basis, while the national average selling price was almost unchanged for the year. (Reporting by Promit Mukherjee; Editing by msn.com READ MORE ... Yet another Ontario home sold at significant loss as market hits a 'pause' Despite some momentum in Canada's housing market this summer, national home sales hit a pause in July, according to the Canadian Real Estate Associ... blogto.com READ MORE ... How far will fixed mortgage rates fall in Canada? Don't expect a return to the rates of the pandemic mpamag.com READ MORE ... Bank of Canada to be more aggressive with rate cuts, economists say Central bank set to accelerate rate drops as inflation eases mpamag.com READ MORE ... Canadians balk at rising homebuying costs and mortgage barriers Survey reveals that more Canadians are putting off homeownership plans mpamag.com READ MORE ... Three Toronto apartment buildings around for almost a century for sale at $17 million Three four-storey apartment buildings in Toronto's The Beaches neighbourhood just hit the market, and they're actually surprisingly nice.  Normally... blogto.com READ MORE ... Canadian Government Spending Now 80% of GDP Growth  - Better Dwelling Canada’s economy is expanding, but the details are worth reviewing before getting too excited. Statistics Canada (Stat Can) data shows real gross domestic product (GDP) grew more than expected in Q2 2024. A dive into the details shows productivity further eroded on a per capita basis, while household spending weakened. Most growth is now government […] betterdwelling.com READ MORE ... BC mortgage market: What's in store for the rest of 2024? Falling interest rates have raised hopes of a market resurgence 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 | 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