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Daily Dive: GTA's Real Estate Thrills!"Elevating Your Home Insights: Expert Reports & Fresh, Desirable Listings!""Dive into GTA's Real Estate Thrills: Daily" invites you to delve deep into the exciting world of Greater Toronto Area (GTA) real estate every day. We bring you curated insights, trends, and captivating updates directly to your inbox, ensuring you stay at the forefront of the GTA real estate scene. Whether you're a prospective buyer, seller, investor, or enthusiast, our daily dive covers a wide range of topics, from market dynamics and emerging trends to investment opportunities and insider tips. Immerse yourself in the thrills of the GTA real estate market with "Daily Dive: GTA's Real Estate Thrills" as your trusted guide. The long-term maintenance costs of new homes versus resale homes can vary depending on several factors, and buyers should consider these factors when evaluating overall affordability: Age and Condition: New homes typically require fewer immediate repairs and maintenance tasks compared to resale homes, which may have older systems and components that need updating or replacing. However, over time, both new and resale homes will require maintenance and repairs. Buyers should consider the age and condition of the home's major systems, such as HVAC, plumbing, and roofing, when estimating long-term maintenance costs. Warranty Coverage: Many new homes come with warranties that cover certain systems and components for a specified period, providing added protection against unexpected repair costs. Buyers should review the details of the warranty coverage and understand what is included and excluded. Resale homes may not come with warranties, but buyers can consider purchasing home warranty plans to provide some level of coverage for existing systems and appliances. Energy Efficiency: New homes are often built with energy-efficient features and technologies that can help lower utility costs over time. These features may include high-efficiency heating and cooling systems, insulation, windows, and appliances. Resale homes can also be upgraded to improve energy efficiency, but buyers should factor in the cost of these upgrades when estimating long-term utility expenses. Condominium Fees: Some new homes are part of planned communities or developments with homeowner's associations that charge monthly or annual fees for maintenance of common areas, amenities, and community services. Buyers should consider these Condo fees when evaluating the overall affordability of a new home. Resale homes may also be subject to Condo fees, depending on the neighborhood or condominium complex. Resale Value: While new homes may require fewer immediate maintenance costs, they may also depreciate in value more quickly than resale homes. Resale homes, especially those in established neighborhoods with desirable amenities and schools, may hold their value better over time. Buyers should consider the potential resale value of both new and resale homes when evaluating long-term affordability.
In summary, buyers should carefully evaluate the age, condition, warranty coverage, energy efficiency, HOA fees, and resale value of both new and resale homes when estimating long-term maintenance costs and overall affordability. Consulting with a real estate agent or home inspector can provide valuable insights into these factors and help buyers make informed decisions.
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If you plan to buy a home in 2024, you'll need a mortgage to finance this big purchase.
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When buying a home with a mortgage, the buyer repays the borrowed amount (principal) along with interest on the outstanding loan balance.
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There will be more competition and buyers will need to make more offers, but they shouldn't hold off for too long, Realtor.com said.
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The number of homes valued at less than $500,000 has dropped significantly in the city of Ottawa over the past 10 years, as home prices rise in Ottawa and across the province.
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Some local municipalities in B.C. are pushing back against the province’s new legislation that imposes limitations on short-term rentals.
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Mayor Patrick Brown and councillors Rowena Santos, Rod Power and Dennis Keenan joined several members of city staff for a telephone town hall on Feb. 22 to update residents and
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Three seniors in Ottawa say their monthly fees are increasing by hundreds, if not thousands of dollars, through what some experts describe as a concerning legal loophole in the province of Ontario.
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A rally for tenants of 250 Frederick Street in Kitchener escalated when the building’s management called police on Wednesday.
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Suspects are soliciting door-to-door, handing out flyers for fraudulent companies and offering roofing, paving and fencing services.
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A Rutland property listed for $1 million back in March 2022 sold for $2.45 million after a chaotic bidding war by several developers. But the matter is now winding its way through courts after the dea
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CIBC World Markets deputy chief economist Benjamin Tal believes major global economies are slowing down, but told the audience at the Feb. 27 CBRE Canadian Market Outlook in Toronto he thinks that’s a good thing for the Bank of Canada.
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Home prices in Canada are forecast to gain a bit this year and rise further in 2025 on relentless demand for housing amid scant new supply and prospects for interest rate cuts later in 2024, according to a Reuters poll of experts. The outlook has stayed broadly unchanged since the last survey in November, despite market expectations that the first rate cuts from most major central banks, including the Bank of Canada (BoC), will come later than estimated a few months ago. After surging more than 50% during the COVID-19 pandemic thanks to near-zero interest rates and a panic rush by existing homeowners to find more space, Canadian home prices have fallen about 14% from an early 2022 peak, including a brief period when they rose again.
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In recent years, families across Canada have been facing an uphill battle to meet their basic living costs due to rising prices for necessities like groceries, housing,... Read more »
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Canada’s housing market stagnated in fall 2023 — not a surprise with high interest rates and the end of buying season. With lending rates holding at five per cent since last summer, many have speculated the cost of borrowing will decline in the months ahead. At the same time, declining rates could push prices through the roof once again. Global’s Steve Autio hears from experts on what they expect Canada’s spring housing market could look like.
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Edmonton's apartment-style condominiums remain the most affordable of almost all Canadian cities but the market is heating up, agents say.
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Statistics released by Ratehub.ca shows homebuyers needed to earn an income of $128,840 to buy the average priced home in Ottawa. That's down from $133,660 a year income in December and $138,260 last July.
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Kelowna's tight rental market has seen incremental improvement in the past year, though there's been no relief for pocketbooks.
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BMO reported rising loan losses in the first quarter and anticipates a further increase before conditions improve in the second half of the year with expected Bank of Canada rate cuts.
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RBC's executive team today expressed confidence in its due diligence of HSBC Canada's mortgage portfolio during the $13.5-billion acquisition.
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A soaring skyscraper will soon tower above Toronto's Yonge and Gerrard intersection, just one in a handful of ambitious new additions that will col...
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Hamilton's bylaw, passed by its council in January, is designed to deter landlords from using major renovations as an excuse for bad-faith evictions and better protect tenants living in affordable units.
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Secretly nestled at the end of a quiet cul-de-sac in Toronto near Casa Loma, there hides another castle of sorts: a mansion that's currently the mo...
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Many Canadians are bracing themselves for a post-rate cut boom, but at least one big bank doesn’t see it. Scotiabank’s macroeconomic scenario forecast accompanying their Q1 2024 earnings shows they’re pessimistic on home prices. Even in their most optimistic scenario, the bank expects home prices to fall over the next year. Macroeconomic Scenario Forecasting Modern […]
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Central bank's second announcement of the year arrives on March 6
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As the days grow longer in Ontario, the spring real estate market grows nearer. What has been happening in real estate and what may happen going forward?
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The Bank of Canada (BoC) is set to issue the second interest rate update of the year at 10 am ET on Wednesday, March 6.
Canada's central bank held ...
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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!"
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