13th Nov 2024 📊 Pros and Cons of a 10-year Fixed Mortgage: Is stability worth the Cost? 🤝

💥 Wednesday 13th November 2024 💥 Buyer Mistakes: FREE Report! Hot Property News: Toronto Daily Digest! "Discover the Hottest Properties with Expert Insights & Free Reports!" "Hot Property News: Toronto Daily Digest" is your essential source for the latest developments in Toronto's dynamic real estate market. Each day, we provide a curated selection of breaking news, market trends, and expert insights to keep you informed and ahead of the curve. Whether you're a buyer, seller, investor, or simply interested in the market, our daily updates ensure you're always in the know about the hottest developments in Toronto's real estate scene. Stay connected with "Hot Property News: Toronto Daily Digest." How Can Home Buyers Prevent the Common Pitfall of Overlooking Potential Future Maintenance Costs? Homebuyers can take several proactive steps to prevent the common pitfall of overlooking potential future maintenance costs when purchasing a property. Here are some effective strategies: 1. Conduct Thorough Home Inspections Hire a Qualified Inspector: Always have a professional home inspection conducted to identify existing issues and potential maintenance concerns. Ask About Longevity: Inquire about the age and condition of key systems (roof, HVAC, plumbing, electrical) to anticipate future repairs or replacements. 2. Research Property History Review Maintenance Records: Ask the seller for documentation of past maintenance and repairs to understand how well the property has been cared for. Check for Patterns: Investigate whether the property has a history of recurring issues that could indicate deeper problems. 3. Evaluate the Property’s Condition Look Beyond Aesthetics: Focus on structural elements and mechanical systems rather than just cosmetic features. Assess Landscaping Needs: Consider the maintenance requirements of outdoor spaces, including landscaping, irrigation systems, and fencing. 4. Factor in Future Upkeep Costs Estimate Annual Maintenance Costs: As a rule of thumb, budget about 1% of the home’s value annually for maintenance. Adjust this based on the age and condition of the property. Consider Seasonal Maintenance: Identify seasonal tasks such as gutter cleaning, snow removal, and lawn care, and factor these into your budget. 5. Understand Local Climate and Conditions Climate Impacts: Consider how the local climate may affect maintenance needs (e.g., homes in harsh winters may require more upkeep for roofs and heating systems). Natural Disasters: If applicable, assess risks related to natural disasters (floods, hurricanes, etc.) and plan for potential damages and insurance implications. 6. Consult with Experts Seek Advice from Professionals: Engage contractors, real estate agents, or home inspectors who can provide insights into the property’s long-term maintenance needs. Talk to Current Owners: If possible, speak with neighbors or current owners to get their perspectives on maintenance challenges and costs in the area. 7. Factor in Upgrades and Renovations Plan for Future Projects: Identify any renovations or upgrades you plan to make in the future and budget for their maintenance costs as well. Consider Energy Efficiency: Evaluate the energy efficiency of the home; investments in insulation or energy-efficient systems can reduce long-term utility costs. 8. Create a Maintenance Plan Establish a Schedule: Develop a maintenance schedule to stay on top of regular upkeep tasks and prevent small issues from becoming major repairs. Set Aside a Maintenance Fund: Create a dedicated savings account for future maintenance expenses to ensure funds are available when needed. 9. Stay Informed About Market Trends Monitor Property Values: Understanding local market conditions can help predict future costs related to property upkeep and renovations. Engage with Local Community: Being part of local forums or community groups can provide insights into common issues faced by homeowners in the area. Conclusion By taking these proactive steps, homebuyers can prevent the common pitfall of overlooking potential future maintenance costs. Thorough research, professional consultations, and strategic planning will not only help in budgeting for a new home but also contribute to a smoother and more sustainable homeownership experience. Understanding the long-term implications of property maintenance will empower buyers to make informed decisions and enjoy their investment for years to come. "🔥Toronto Real Estate: Hot News & Trends 🏡" Pros and cons of a 10-year fixed mortgage: Is stability worth the cost? - Mortgage Rates & Mortgage Broker News in Canada The 10-year mortgage has long been a niche product in the Canadian mortgage market. canadianmortgagetrends.com Read More ... The Peak Dispatch: Housing Is Driving Canada’s Wealth Gap, and One Company Wants Robots to Help Build Homes Through its website and daily newsletters, The Peak (a ZoomerMedia property) offers Canadians... everythingzoomer.com Read More ... What to know as Canada’s capital gains tax changes remain in legal limbo - MoneySense The federal government’s capital gains inclusion rate increase has yet to become law. There’s a slight chance it may never come to pass. moneysense.ca Read More ... Long list of rules pits Mississauga neighbours against townhouse board | CBC News A Mississauga couple is in the midst of a war of words with their townhouse complex's board of directors — which a handful of residents say is imposing unnecessarily strict new rules on the complex's roughly 140 homeowners. cbc.ca Read More ... FIRST PERSON | I'm about to become a homeowner and leave behind years of rental disputes | CBC News "I’ve bought a house. I’ll cross the threshold into a new chapter, leaving behind years of frustration and neglect," Bella Luna Zuniga writes. cbc.ca Read More ... Canadian Rental List Prices Make First Drop Since COVID, BC & ON Cities Lead Lower - Better Dwelling Canadian rents are showing the first sign of weakness since the pandemic kicked off. A new report from Urbanation & rentals.ca shows the average rental price fell to $2,151 per month in October, down 1.2% since last year. It was the first year-over-year (y/y) drop since July 2021, with the 3-month trend showing annual growth […] betterdwelling.com Read More ... Mayor Chow proposing big change that would see buildings go up all over Toronto Mayor Olivia Chow has proposed a major change to the process of how housing is built in Toronto, one that would allow a new generation of buildings t… blogto.com Read More ... Posthaste: These are the best buyers' markets in Canadian real estate — for now Listings outpace demand in Toronto and Vancouver ca.finance.yahoo.com Read More ... Asking rent in major Canadian cities just dropped for the first time since the pandemic Some promising cost-saving rent trends are emerging that might make tenants across the country's largest cities breathe a sigh of relief. Rentals.ca … blogto.com Read More ... 'Mortgage war': Canadians may emerge winners as banks fight for business RBC notes anecdotal evidence of "significant discounting" at Canadian banks already. ca.finance.yahoo.com Read More ... Canada Makes A Huge GDP Revision, BoC Made Supersized Rate Cut On Bad Data - Better Dwelling Canada must have found some economic progress in the pocket of an old winter coat. Last week Statistics Canada (Stat Can) made some big upward revisions to the country’s gross domestic product (GDP) data. The country’s national statistics agency found the equivalent of a whole year of economic activity that was hiding between 2021 to […] betterdwelling.com Read More ... Homeownership a “Luxury” for Most Canadians, New Survey Reveals - NetNewsLedger Toronto, ON – A new survey from Habitat for Humanity Canada paints a concerning picture of the housing crisis in Canada, with 84% of Canadians now viewing homeownership as a luxury. The survey, which explores the broader impacts of the housing crisis on Canadians' lives, reveals growing concerns about affordability, mental health, and the widening netnewsledger.com Read More ... 'Financially desperate' Winnipeg business swindled out of 2 properties, lawsuit alleges | CBC News A Winnipeg business owner is suing a man she alleges swindled her out of ownership of two properties after promising financial help — the latest in a string of court proceedings against the man, whom a judge previously described as showing the signs of a "predator" who seeks out financially vulnerable clients. cbc.ca Read More ... Ottawa man clashes with landlord over right to charge his EV | CBC News An Ottawa man feels it's his right to charge his car overnight at his apartment building since electricity is included in his rent, but his landlord disagrees. cbc.ca Read More ... The mystery and reality of AI in real estate  For many, the reality of AI remains a mystery. For others, it has become a tool that is gaining ground and becoming a pillar in their business realestatemagazine.ca Read More ... Fixed mortgage rates may not follow Bank of Canada cuts, former TD economist warns - Mortgage Rates & Mortgage Broker News in Canada While plenty of consumers believe the Bank of Canada’s steady interest rate cuts will drop mortgage rates meaningfully across the board, economist Don Drummond isn't so sure that prediction applies to fixed rate mortgages. canadianmortgagetrends.com Read More ... Canadian banks could face a 'mortgage war,' RBC analysts say More than half of all mortgages with Canadian banks are set to be renewed in the next two fiscal years ca.finance.yahoo.com Read More ... Bank of Canada Warns Policymakers Against Tinkering With Mortgages - Better Dwelling The number two at Canada’s central bank just made it clear she isn’t a policy cheerleader, like the Governor has been in recent months. Bank of Canada (BoC) Deputy Governor Carolyn Rogers addressed finance professionals at the Economic Club of Canada last week, explaining the usual mortgage market risks. It got more interesting when she […] betterdwelling.com Read More ... Your home sold—now what? - MoneySense If you’ve sold your home, putting the money into a Canadian high-interest savings account can help you grow your money while you decide your next move. moneysense.ca Read More ... Unsure about buying a home? Why you should open an FHSA now anyway - MoneySense Saving for a down payment? Or on the fence about home ownership? Either way, opening a first home savings account by Dec. 31 is smart. moneysense.ca Read More ... "📝 Message from the Editor ✨" Welcome to my Newsletter Page! 🎉 I am a professional Real Estate Agent here in the 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! 📞(416) 275-2089 ✉️ Manoj@ManojAtri.com 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-Uppers 🛠️ 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: This Newsletter contains summarized content from various sources; full attribution for each article is provided in the original linked content. Articles and Podcasts in this newsletter are generated by AI." 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✂️ 24th Oct 2024 - Bank of Canada makes a chunkier Rate cut, lowering by half point for 1st time since pandemic!

💥 Thursday 24th October 2024 💥 Rent-To-Own Homes Toronto GTA Real Estate Daily: Hot News Alerts! "Your Key to Real Estate Triumph: Free Reports & Hot New Listings!" "GTA Real Estate Daily: Hot News Alerts" delivers timely and crucial updates straight from the heart of the Greater Toronto Area's real estate market. Every day, we provide you with breaking news, market shifts, and expert insights to keep you ahead of the game. Whether you're a buyer, seller, investor, or simply interested in the market, our alerts ensure you’re always informed about the most important trends and opportunities. Stay connected and ready to act with "GTA Real Estate Daily: Hot News Alerts." Are there any restrictions or limitations on the types of properties that are available for rent-to-own arrangements, such as condominiums, single-family homes, or multi-unit buildings? Yes, there are typically restrictions and limitations on the types of properties available for rent-to-own arrangements. These restrictions can vary based on location, property type, and the specific terms set by landlords or property managers. Here’s an overview of the common limitations regarding rent-to-own arrangements: 1. Property Types Single-Family Homes: These are the most common type of property for rent-to-own agreements. They often appeal to families looking to eventually purchase a home, making them a popular option for landlords offering this arrangement. Condominiums: Rent-to-own options may be available for condominiums, but they are less common. This can be due to association rules or regulations that may restrict subleasing or renting with an option to purchase. Multi-Unit Buildings: Rent-to-own arrangements are typically less common for multi-unit buildings (like duplexes or apartment complexes) due to the complexities involved in financing and managing multiple tenants. Townhouses: Similar to single-family homes, townhouses may be available for rent-to-own arrangements, especially in family-oriented communities. 2. Property Condition Condition Requirements: Properties that are in good condition and are appealing to potential buyers are more likely to be offered in rent-to-own arrangements. Properties needing significant repairs or renovations may be less attractive for such agreements. Appraisal Considerations: The property must typically be appraised at a value that reflects its condition, which can impact whether it is suitable for rent-to-own. 3. Zoning and Local Regulations Zoning Laws: Local zoning laws can affect the types of properties that can be offered in rent-to-own arrangements. For instance, properties zoned for commercial use may not be eligible for residential rent-to-own agreements. Regulations: Some areas may have specific regulations governing rental agreements, including rent-to-own contracts, which can impact which properties are eligible. 4. Landlord Preferences Landlord Policies: Individual landlords or property management companies may have their own policies regarding which types of properties are available for rent-to-own. Some may prefer to offer this arrangement only on certain property types or within specific communities. Target Market: Landlords may choose to target specific demographics (e.g., families, young professionals) that are more likely to be interested in rent-to-own agreements, affecting the types of properties they offer. 5. Financial Considerations Affordability: The property must be affordable for potential buyers in the rent-to-own arrangement. High-value properties may not be practical for this model, as buyers must be able to make monthly rental payments and eventually secure financing to purchase. Financing Options: Availability of financing options for the eventual purchase can influence the type of properties offered. If lenders are hesitant to finance certain property types, landlords may avoid including them in rent-to-own arrangements. 6. Market Demand Local Market Trends: The demand for rent-to-own properties in a particular area can affect the types of properties available. In markets with high demand for affordable housing, landlords may be more inclined to offer various property types under rent-to-own agreements. Rental Market Conditions: If the rental market is competitive, landlords may prefer traditional rental agreements over rent-to-own, leading to fewer options in this category. Conclusion Rent-to-own arrangements can be an attractive option for many buyers, but there are specific restrictions and limitations regarding the types of properties available. Typically, single-family homes are the most common option, while condominiums, townhouses, and multi-unit buildings may also be considered depending on local regulations, property condition, and landlord preferences. Buyers interested in rent-to-own should work closely with real estate professionals to identify suitable properties and understand any applicable restrictions. Bank of Canada makes a chunkier rate cut, lowering by half point for 1st time since pandemic | CBC News The Bank of Canada has lowered its key interest rate to 3.75 per cent with a 50-basis-point cut, twice the size of the previous cut. cbc.ca READ MORE ... Mortgage Digest: Prospective homebuyers waiting for sub-3% BoC rate before acting, survey shows - Mortgage Rates & Mortgage Broker News in Canada A bi-weekly review of the latest mortgage and real estate news, a recap of key headlines, and a preview of upcoming economic releases. canadianmortgagetrends.com READ MORE ... Calgary a leader in Canada's luxury real estate market, says Sotheby's | CBC News In a new report, Sotheby's International Realty Canada said Calgary solidified its position as a leader in top-tier real estate in the third quarter of this year. cbc.ca READ MORE ... What London's real estate market looks like now | CBC News After years of 'roller coaster' activity, London's market is showing signs of balance, says Bill Madder, CEO of the London and St. Thomas Association of Realtors. cbc.ca READ MORE ... Help young buyers find their home — and their community Discover how to meet the needs of young buyers in the housing market. Help Millennials and Gen Z find their perfect home and community. realestatemagazine.ca READ MORE ... Will Bank of Canada’s big rate cut wake up ‘sluggish’ housing market? - National | Globalnews.ca The Bank of Canada slashed key interest rates by half a percentage point, leading some experts to say this could spur movement in Canada's 'sluggish' housing market. globalnews.ca READ MORE ... Is the double rate cut announced by the Bank of Canada enough to revive the housing market? Today the Bank of Canada cut its key interest rate by 50-basis points. Is today's double rate cut enough to incentivize buyers to re-enter the housing market? Let’s see what it means for the Canadian housing market. rates.ca READ MORE ... The BoC’s latest interest rate cut: What to expect, how it affects the real estate market Understand the impact of the Bank of Canada's interest rate cut on the housing market, mortgage renewals and the broader financial landscape realestatemagazine.ca READ MORE ... Fourth straight interest rate cut may not bring buyers back to the market just yet TORONTO — While the Bank of Canada's fourth straight cut to its key interest rate could inspire potential homebuyers to get off the sidelines, some commentators say the housing market may not see a huge spark just yet. biv.com READ MORE ... Bank of Canada lowers interest rate, much to the delight of homeowners and home buyers The bank's rate is what is used to help calculate mortgage and loan payments. For example, most lenders will now offer a prime lending rate at 5.95 per cent. toronto.com READ MORE ... Interest rate cut will give buyers confidence: local real estate experts Wednesday’s Bank of Canada interest rate cut of 50 basis points may not show true change in the London region’s housing market until as late as next spring. london.ctvnews.ca READ MORE ... Toronto landlords who evict tenants to renovate could require renovation licence as early as next summer Landlords who plan to evict tenants to renovate their properties may soon be required to apply for a licence and provide additional financial compensation to the tenants they are displacing. toronto.ctvnews.ca READ MORE ... Silenced and scrambling: Toronto tenants navigate ‘renovictions’ and landlord fears in city’s rental maze Expert analysis shows that landlords kick out their tenants to perform renovations and raise their rent. ca.news.yahoo.com READ MORE ... Four in ten renters give up on homeownership as rent and food prices rise A further three in ten say they cannot afford to buy a home for now wealthprofessional.ca READ MORE ... Do lower interest rates mean Toronto can speed up building housing? The Bank of Canada has announced the fourth straight cut to Canada’s key interest rate. Economists have blamed high interest rates and construction costs for the slowdown in new condo and rental housing builds. But as CBC’s Shannon Martin explains, even with rates trending downward, developers say Toronto is falling behind. cbc.ca READ MORE ... Toronto’s luxury condo market takes a hit as sales over $1 million drop 35 per cent Conditions have tipped in favour of buyers, as the luxury condo market sees a similar inventory increase as the under-$1 million market, Sotheby's says. therecord.com READ MORE ... City staff unveil draft renovictions bylaw to protect tenant rights | CBC News Toronto city staff unveiled a draft renovictions bylaw to protect tenants from unlawful evictions on Wednesday, set to be considered by city council in November. A staff report defines renovictions as when a landlord illegitimately evicts a tenant by alleging 'vacant possession' of a rental unit is required to do renovations or repairs.  cbc.ca READ MORE ... Bank of Canada Makes Supersized Cut, Panics Over Slow Economy & Population - Better Dwelling Canadian households are celebrating cheaper credit after rates were further slashed. This morning the Bank of Canada (BoC) made its October rate announcement, slashing the overnight rate by 0.5 points in a single move. The “supersized” cut was widely expected by the market, but reinforces a troubling picture the central bank’s accompanying report confirmed. Canada’s […] betterdwelling.com READ MORE ... Stunning $24 million Toronto mansion boasts outrageously fancy underground garage There are a lot of things $24 million can buy, like an award-winning winery in Tuscany or Cristiano Ronaldo's car collection. It can also buy 80 Ches… blogto.com READ MORE ... Toronto could make it much harder for landlords to kick out tenants in 2025 Drawing inspiration from a Hamilton bylaw enacted this year, Toronto could soon introduce landmark legislation that would prevent landlords from exec… 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 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: This Newsletter contains summarized content from various sources; full attribution for each article is provided in the original linked content. Articles and Podcasts in this newsletter are generated by AI." If you no longer wish to receive these Emails, please Unsubscribe Here