🔒 6th May 2024 - Buyers Of GTA Development Uncertain As It Enters Receivership!

💥 Monday 6th May 2024 💥 Buy With Low Or Zero Down Payment! Daily GTA Real Estate Chronicles: Hot Market News! "Elevate Your Home Experience: Expert Reports & Irresistible Listings!" "Daily GTA Real Estate Chronicles: Hot Market News" is your daily dispatch from the front lines of the Greater Toronto Area's real estate market. Each day, we delve into the most pressing news, uncovering the trends and transactions that are shaping the GTA. Whether you're a buyer, seller, investor, or just a keen observer of the market, our newsletter provides comprehensive insights and analysis to keep you well-informed and one step ahead. Stay connected with the pulse of the GTA's real estate scene through "Daily GTA Real Estate Chronicles: Hot Market News," where we bring the hottest updates straight to your inbox. What are some lesser-known strategies or resources available to homebuyers for saving up for a down payment, especially if they have limited income or savings? Saving up for a down payment on a home can be a daunting task, especially for those with limited income or savings. However, there are several lesser-known strategies and resources that can help prospective homebuyers accumulate the necessary funds more effectively. Here are some creative approaches: 1. Automated Savings Plans How It Works: Set up an automated savings plan where a specific amount of money is transferred to a savings account dedicated to your down payment each pay period. This "out of sight, out of mind" strategy can help you consistently save without having to think about it each time. Benefits: Automating the process reduces the temptation to spend the money elsewhere, ensuring steady growth in your savings. 2. Government and Non-Profit Programs How It Works: Look for local, state, or national programs that offer grants, low-interest loans, or matched savings to help first-time homebuyers or low-income individuals. For instance, in Canada, programs like the Home Buyers' Plan allow individuals to withdraw funds from their Registered Retirement Savings Plans (RRSPs) to purchase a home. Benefits: These programs can significantly boost your savings without the burden of high-interest rates or stringent repayment terms. 3. Employer-Assisted Housing How It Works: Some employers offer Employer-Assisted Housing (EAH) programs that provide grants or loans to help employees purchase homes, often near the workplace. Benefits: These programs can be a low-cost way to secure additional funds for a down payment, and they sometimes come with favorable terms not available through traditional lenders. 4. Side Gigs or Freelance Work How It Works: Take on additional work outside of your primary job. This can include freelance work, consulting, or part-time jobs, particularly those that can be done during evenings or weekends. Benefits: Additional income can be directed entirely towards your down payment, accelerating your savings timeline. 5. Renting Cheaper or Shared Living Spaces How It Works: Temporarily reduce your living expenses by moving to a less expensive rental or sharing living space with roommates. Benefits: The money saved on rent can be redirected towards your down payment fund. 6. Saving Windfalls How It Works: Commit to depositing any unexpected windfalls directly into your down payment savings. This could include tax refunds, bonuses from work, or gifts. Benefits: These amounts can boost your savings substantially and shorten the time needed to reach your down payment goal. 7. Crowdfunding How It Works: Use crowdfunding platforms designed for personal savings goals, like down payments on a home. Family and friends can contribute directly to your goal in lieu of traditional gifts for birthdays, holidays, or weddings. Benefits: This method can turn small contributions from a wide network into significant savings towards your home. 8. Investment Apps How It Works: Use micro-investment apps that round up your purchases to the nearest dollar and invest the difference. Over time, these investments can grow and be withdrawn for your down payment. Benefits: It's a relatively painless way to save small amounts that add up over time, leveraging the potential growth of investments. These strategies require commitment and sometimes a bit of creativity, but they can make the goal of homeownership more attainable for individuals with limited initial resources. Always consider consulting with a financial advisor to plan effectively and make the most of these strategies. Barrie townhouse development where builder asked buyers to pay extra $100K enters receivership | CBC News Buyers who have been waiting years to move into homes at a pre-construction development north of Toronto are facing uncertainty and more delays after the project was placed into receivership earlier this year. cbc.ca READ MORE ... Toronto housing market slows in spring 2024 as listings surge and sales dip - REM GTA buyers are enjoying more options, with a 47.2% increase in new listings and a slightly lower average selling price for condos realestatemagazine.ca READ MORE ... More changes could come to Residential Tenancies Act, says minister Services Nova Scotia Minister Colton Leblanc says he's open to making further changes to the Residential Tenancies Act. Leblanc was responding a day after several people raised concerns about the act during a meeting of the legislature's law amendments committee Monday. Presenters representing both tenants and landlords called for better enforcement of the act, while concerns were also raised about fixed-term leases being a workaround for the province's cap on rent increases. Speaking to reporte ca.movies.yahoo.com READ MORE ... Why mortgage rates are going up, not down The cost of a new fixed mortgage has risen in recent days, defying many homeowners' hopes and expectations. ca.finance.yahoo.com READ MORE ... Commercial Real Estate 101: A Beginner's Guide RE/MAX experts can help you learn the ins and outs of buying, leasing and investing in commercial real estate. Add a RE/MAX professional to your team today! blog.remax.ca READ MORE ... These are the areas where Ontario housing prices could see the biggest drop Ontario’s housing market has been red hot for years now, but that may soon change, and some areas could be hit harder than others. toronto.ctvnews.ca READ MORE ... Okay with being nude? You can buy a Flamborough home for $119K Lowest-priced home in community near Hamilton, Ont., is at Ponderosa Nature Resort villagereport.ca READ MORE ... This Week’s Top Stories: Canadian Home Prices Forecast For New Highs & Rental Vacancies Rise - Better Dwelling Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Housing Agency Bizarrely Forecasts Record Home Prices & Weak Economy Canada’s economy is heading for a downturn, so prepare for record home prices. That was the message from the CMHC, the country’s national housing agency and state-owned mortgage insurance provider. Their […] betterdwelling.com READ MORE ... Vancouver and Toronto see increased supply in April, easing housing pressures Canada’s real estate heavy weights, the Greater Vancouver Area and the Greater Toronto Area, both came out of the month of April in better shape than when they went in and it could be good news for home buyers. westernstandard.news READ MORE ... Canadian banks seek return of reluctant business borrowers as mortgage growth set to slow Even as Canadian businesses prepare to reopen gradually this summer after a year of intermittent lockdowns, banks are wary about the prospects of a fast uptick in credit growth as an economic recovery remains patchy and cautious commercial clients hold on to record amounts of cash hoarded during the pandemic. Canada's top six banks - Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada - have emerged relatively unscathed from the pandemic, thanks to government support programs and their own loan deferrals. But mortgage growth is expected to slow, said Mike Clare, portfolio manager at Brompton Group, as a surge in home prices since last summer crimps affordability and stricter mortgage rules take effect. ca.movies.yahoo.com READ MORE ... How to Add Real Estate to Your TFSA Add real estate to your TFSA through niche REITs such as NorthWest Healthcare Properties (TSX:NWH.UN). The post How to Add Real Estate to Your TFSA appeared first on The Motley Fool Canada. ca.movies.yahoo.com READ MORE ... Poilievre tight-lipped on what Conservatives might do with capital gains tax changes Conservative Leader Pierre Poilievre is telling business leaders to fight their own battles when it comes to the Liberals' proposed changes to capital gains taxation. ctvnews.ca READ MORE ... Ontario home sold at massive loss after 6 failed attempts to sell An Ontario home sold significantly below its original selling price earlier this year demonstrates just how prices tend to fluctuate in the provinc... blogto.com READ MORE ... This unremarkable bungalow is $4 million because it's in a fancy Toronto neighbourhood The birds are chirping, and the sun is shining, which means Toronto real estate is back on its typical BS.  It seems like every spring, the weather... blogto.com READ MORE ... This run-down Toronto multiplex might still be a bargain at $3 million In a Toronto neighbourhoood where the average detached home goes for almost $4 million and the price has gone up 50 per cent year-over-year, findin... blogto.com READ MORE ... This $740K Toronto home has been in the same family for 70 years You know a house is very loved when it's been in the same family for almost 70 years.  And that's exactly the story of 31 Mulock Ave.  Built in 188... blogto.com READ MORE ... Toronto has a concerningly high number of condos sitting on the market Even with interest rates due to ease up later this year, people have still been extremely hesitant to purchase real estate in Toronto — especially ... blogto.com READ MORE ... Bank of Mom and Dad: Report reveals influence on homeownership in Canada Statistics indicate a correlation between parents' housing wealth and property values of their children mpamag.com READ MORE ... Prices fall, listings rise in Toronto housing market Is the market now favouring buyers? mpamag.com READ MORE ... When will house prices peak in Canada? It may be sooner than you expect… 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. If you no longer wish to receive these Emails, please Unsubscribe Here

🚆 25th Apr 2024 - Cheapest Places To Buy A Home Along The GO Train Line In Southern Ontario!

💥 Thursday 25th April 2024 💥 Rent-To-Own Homes Toronto GTA Real Estate Heatwave: Daily Hot Market Watch! "Ignite Your Home Journey: Expert Reports & Premier Listings Inside!" "GTA Real Estate Heatwave: Daily Hot Market Watch" is your daily guide to the latest and most impactful trends in the Greater Toronto Area's real estate market. Our newsletter delivers a fiery mix of breaking news, expert analysis, and emerging market movements that are sure to catch your attention. Whether you're interested in rising property values, new construction, or emerging investment hotspots, this is the go-to resource for staying informed. From condos to single-family homes, we cover the entire GTA, highlighting the hottest opportunities and developments. With "GTA Real Estate Heatwave," you'll stay ahead of the curve and always be in the know. Subscribe now and feel the heat! Can tenants negotiate the terms and conditions of a rent-to-own agreement, such as the purchase price or timeline, and what factors should they consider when doing so? Yes, tenants can negotiate the terms and conditions of a rent-to-own agreement, including aspects like the purchase price, timeline, rent credits, and maintenance responsibilities. When entering into these negotiations, tenants should consider several factors to ensure a fair and beneficial agreement. Key Negotiable Terms in Rent-to-Own Agreements: Purchase Price: Tenants can negotiate the future purchase price at the start of the rent-to-own agreement. It's crucial to ensure the agreed price is realistic and reflects expected market conditions when the option to purchase is exercised. Option Fee/Deposit: This is the upfront payment made to secure the option to purchase the property. Tenants should aim to negotiate a reasonable fee and ensure that it is credited towards the purchase price if they choose to buy. Rent Credit: Some rent-to-own agreements include a portion of the monthly rent being credited towards the purchase price. Tenants can negotiate for higher rent credits to reduce the ultimate purchase price. Duration of Agreement: Tenants should consider how long they need to build credit, save for a down payment, or qualify for a mortgage, and negotiate the length of the agreement accordingly. Maintenance and Repairs: Clarify who is responsible for maintenance and repairs during the rental period. It's beneficial to negotiate a fair division of responsibilities, with the major structural repairs ideally remaining the owner's responsibility. Conditions for Purchase: Consider negotiating flexibility regarding the conditions required to exercise the purchase option, such as financing approval or inspection contingencies. Factors to Consider in Negotiations: Market Research: Understand current and expected future market trends in your area to ensure the purchase price is fair. Legal Review: Always have a real estate lawyer review the agreement to ensure it protects your rights and interests. Creditworthiness: Consider your ability to improve your credit score and qualify for a mortgage within the agreement timeline. Flexibility: Ensure the agreement provides some flexibility in case personal circumstances change or if you decide not to purchase the property. Exit Strategy: Understand the consequences if you choose not to buy the property at the end of the agreement. This may include losing the option fee or rent credits. Tips for Successful Negotiations: Start with a Clear Goal: Know what you aim to achieve from the agreement and prioritize key terms. Be Informed: Gather as much information as possible about the property, market conditions, and your own financial situation. Be Willing to Walk Away: If the terms are unfavorable, consider other rent-to-own or traditional rental options. Seek Professional Guidance: Work with a real estate agent or lawyer who has experience with rent-to-own agreements to ensure the best outcome. By understanding these factors and negotiating carefully, tenants can create a rent-to-own agreement that aligns with their financial goals and leads to a successful path to homeownership. Cheapest places to buy a home along the GO train line in southern Ontario | insauga Here are some of the cheapest places to buy a home near a GO Train station insauga.com READ MORE ... “Poised For An Upswing”: GTA New Home Market Picks Up Almost 40% in March A new report from Building Industry and Land Development Association shows that new home segment rallied in March, with 1,277 sales recorded. storeys.com READ MORE ... Landlord slammed for trying to rent out half of their own bed | Urbanized There is a landlord renting up half of their own personal bed in Toronto's Rexdale neighbourhood for an undisclosed rent price. dailyhive.com READ MORE ... House of the Week: $2.2 million for a Victorian in the Annex with a basement sauna The 2,500-square-foot property also comes with 10-foot ceilings, a rooftop deck, a parking spot out back and a stunning garden torontolife.com READ MORE ... Canada's Variable Rate Mortgage Binge Is Over - Better Dwelling Canadian real estate owners are seeking the security (& discount) of fixed rate mortgages. Bank of Canada (BoC) data shows the share of new mortgage loans with variable interest continued to shrink in February. Just one year ago, the majority of new loans were attached to variable rate mortgages. Now the share is back to […] betterdwelling.com READ MORE ... Impact of Rising Interest Rates Is Felt in Quebec, But Prices Remain Relatively Unaffected Highlights: 2023 began as 2022 ended: with the lowest level of sales recorded in the last 10 years. The inability of many first-time homebuyers to qualify for a loan does not explain everything: the wait-and-see attitude of experienced buyers and sellers also played a major role in the weakening of transaction levels and the rebound in selling times. The most affordable markets have shown resilience with a level of activity that contrasts particularly with the sharper decline in the Montreal region. Despite weak activity, market conditions continue to favour sellers resulting in relatively stable prices compared to last year. The building.ca READ MORE ... Rising home buying confidence in Canada amid challenges Despite inflation and affordability issues, Canadians feel increasingly confident wealthprofessional.ca READ MORE ... Three-quarters of recent Canadian homebuyers don’t regret their decision, despite affordability issues - REM "Some homeowners are undeniably facing challenges today … Owning a home is deeply ingrained, as Canada’s homeownership rate sits at 66.5 per cent” realestatemagazine.ca READ MORE ... Average rent in Canada rises back above $2,000, and over $3,000 in the GTA - Mortgage Rates & Mortgage Broker News in Canada After easing over the winter months, rent prices are back on the rise across Canada. canadianmortgagetrends.com READ MORE ... What is a halal mortgage? Experts explain and dispel myths Financial and real estate professionals are trying to clear the air on halal mortgages, which have been in the spotlight. ottawa.citynews.ca READ MORE ... Michael Taube: Why Canada’s banks should avoid halal mortgages at all costs Muslim Canadians should be insulted that the Liberals are trying to use them as political pawns nationalpost.com READ MORE ... Canada's average home price rises year over year, marking turning point in market The national average home price in Canada jumped to $729,000 in May, up 3.2 per cent from the same period last year in the first year-over-year gain after a challenging 12 months for the housing market . According to figures released on June 15 by the Canadian Real Estate Association (CREA ), strong sales in the Greater Toronto Area (GTA) and the B.C. Lower Mainland drove the price gains. Canadian home sales continued their upward trend in May,... msn.com READ MORE ... New building code coming, but changes unclear: Collingwood CBO Collingwood’s chief building official updates council on changes to building standards set to come into effect Jan. 1, 2025, however officials have not yet been given the changes and time is running short collingwoodtoday.ca READ MORE ... Latest in Mortgage News: Financial experts see less risk of an imminent recession - Mortgage Rates & Mortgage Broker News in Canada A recent survey of financial experts reveals a shift in recession expectations, showing a decrease in the likelihood of an imminent economic downturn. However, there is growing uncertainty regarding the timing and degree of anticipated Bank of Canada interest rate cuts. canadianmortgagetrends.com READ MORE ... Apartment rent growing faster than condo rent as new supply comes online: report The Canadian rental market is showing signs of divergence, with purpose-built rental apartment rents accelerating more quickly than those for condominium units . According to a report by Urbanation, which analyzes monthly listings from the website Rentals.ca, purpose-built units experienced a 12.7 per cent year-over-year price increase in March, averaging $2,117. In contrast, condominium rentals grew at a more modest rate of 3.9 per cent,... msn.com READ MORE ... New condo sales in the Toronto area hit low not seen since financial crisis New condo sales in the Toronto region dropped to the lowest quarterly total since the financial crisis in 2009 amid high interest rates and affordability issues, a new report has found. cp24.com READ MORE ... The Chase: This couple thought they'd be renters for life. Then the market shifted in their favour For six years, Dylan and Matt had been happily renting a two-bedroom apartment in Little Italy. They weren’t looking to buy, but when interest rate hikes put an end to bidding wars, they seized the opportunity torontolife.com READ MORE ... Property owners to be reimbursed $150K over Winnipeg firm's 'deceptive dealings' | CBC News Winnipeg property owners who worked with a now-dissolved property management company more than a decade ago are getting reimbursed nearly $150,000 after a provincial agency finds the company defrauded them by misappropriating their funds. cbc.ca READ MORE ... B.C. landlord says they couldn't rent unit due to damages, claims $2,445 The landlord even filed $50 for "missing and broken light bulbs." vancouverisawesome.com READ MORE ... This Toronto home is a '90s decor trip but a steal at only $600K If you're a millennial and grew up in the '90s, you'll probably remember a fair amount of '90s home decor trends that might still haunt you to this... blogto.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 & 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. If you no longer wish to receive these Emails, please Unsubscribe Here