🙅‍♂️ 1st Oct 2024 - Buying a Home may remain out of reach for many Canadians for the foreseeable future!

💥 Tuesday 1st October 2024 💥 Extra Home Buying Costs - FREE Report! Daily Hot Topics: Toronto Real Estate News! "Your Key to Real Estate Triumph: Free Reports & Hot New Listings!" "Daily Hot Topics: Toronto Real Estate News" delivers the most relevant and timely updates from the Toronto real estate market straight to your inbox every day. Stay informed on the latest market trends, property insights, expert analyses, and investment opportunities. Whether you're a buyer, seller, investor, or simply an enthusiast, our daily roundup provides you with the critical news and developments shaping Toronto's real estate landscape. Keep your finger on the pulse with "Daily Hot Topics: Toronto Real Estate News." How Can Buyers Anticipate and Prepare for Additional Costs Related to Homeownership in High-Risk Natural Disaster Areas? Buying a home in high-risk natural disaster areas requires careful consideration and preparation for additional costs related to homeownership. Here are steps buyers can take to anticipate and prepare for these expenses: 1. Understand Local Risks and Insurance Requirements Research Natural Risks: Identify the specific natural disasters that are prevalent in the area (e.g., floods, earthquakes, hurricanes, wildfires) and understand how these risks can impact property values and insurance needs. Flood Zone Designations: Check whether the property is located in a flood zone. This information can usually be obtained from local government resources or the Federal Emergency Management Agency (FEMA) in the U.S. Required Insurance: Some lenders may require specific types of insurance based on the location of the property. Familiarize yourself with these requirements, including flood insurance, earthquake insurance, or other specialized coverage. 2. Budget for Higher Insurance Premiums Get Insurance Quotes: Contact insurance providers to obtain quotes for homeowners insurance, including additional coverage for natural disasters. Premiums can vary significantly based on risk factors, so it's essential to shop around. Include Costs in Budget: Ensure your budget accounts for potentially higher premiums associated with homes in high-risk areas. This could significantly increase monthly expenses. 3. Consider Mitigation Costs Home Improvements for Risk Reduction: Investigate possible home improvements that could reduce risk (e.g., elevating a home in flood-prone areas, installing hurricane shutters, or reinforcing structures in earthquake-prone regions). These improvements may incur upfront costs but can lower insurance premiums and reduce damage during a disaster. Landscaping and Drainage: For properties in flood-prone areas, investing in proper drainage, landscaping that directs water away from the home, and installation of sump pumps can mitigate potential damage and insurance costs. 4. Review Local Building Codes and Regulations Construction Standards: Check if local building codes require specific construction practices for new homes in disaster-prone areas (e.g., reinforced foundations, wind-resistant materials). Compliance with these codes may increase initial construction costs but provide better protection. Zoning Regulations: Understanding zoning regulations related to natural disasters can help buyers anticipate future costs related to property improvements or renovations. 5. Emergency Preparedness Planning Emergency Supplies and Kits: Prepare for the possibility of evacuation or emergencies by budgeting for emergency supplies and kits, including food, water, first-aid supplies, and necessary medications. Evacuation Plans: Develop an emergency plan and ensure that family members know evacuation routes and local emergency services. Having a plan in place can minimize panic and reduce costs associated with recovery efforts. 6. Evaluate Homeowner Association (HOA) Fees HOA Special Assessments: If purchasing a home within a homeowner association, inquire about any potential special assessments related to disaster recovery or maintenance of shared amenities that could impact finances. Emergency Reserve Funds: Check whether the HOA has established reserve funds for disaster preparedness and recovery, as this can affect how quickly repairs or improvements can be made. 7. Establish an Emergency Fund Financial Buffer: Set aside an emergency fund specifically for disaster-related costs, which can include insurance deductibles, immediate repairs, or temporary housing if the home becomes uninhabitable. Continuous Assessment: Regularly assess and replenish this fund to ensure it remains adequate for potential future needs. 8. Consider Long-Term Resilience Investments Energy Efficiency Improvements: Investing in energy-efficient appliances and systems may be beneficial for disaster recovery, as they can help reduce utility costs during recovery periods or after repairs. Sustainable Landscaping: Utilizing landscaping that is less susceptible to natural disasters (e.g., drought-resistant plants in wildfire-prone areas) can reduce future maintenance costs and improve resilience. 9. Work with Professionals Engage Experts: Consult with real estate agents, insurance agents, and disaster preparedness professionals who understand the specific risks of the area and can provide tailored advice. Regular Property Assessments: Hire professionals for regular property assessments and inspections to identify potential vulnerabilities before they become costly issues. Conclusion Buyers considering homes in high-risk natural disaster areas should be proactive in anticipating and preparing for additional costs related to homeownership. By researching local risks, budgeting for higher insurance premiums, considering mitigation costs, and establishing emergency funds, buyers can create a comprehensive strategy to protect their investment and ensure peace of mind in the face of potential natural disasters. Buying a home may remain out of reach for many Canadians for the foreseeable future | RCI House prices on average are up more than 30 per cent since April 2020 ici.radio-canada.ca READ MORE ... 102-year-old selling London home she's lived in since 1923: 'Kind of hard' After a century of living in an east London bungalow, a 102-year-old woman is ready to sell lfpress.com READ MORE ... Here's how the income needed to afford a home in Toronto has changed lately Even though there's little hope of Toronto real estate prices ever lowering to remotely reasonable levels, the latest survey of average home costs — … blogto.com READ MORE ... Breathtaking $5 million Ontario home looks like a Nantucket beach house This stunning $5 million home in Oakville looks like it was plucked straight from Pinterest — and its price has just been marked down by $400,000. Re… blogto.com READ MORE ... Why these Ontario homeowners' TVs 'fried' from power outages Two Ontario men were surprised after their large flat-screen TVs were ruined from surges due to separate electrical power outages. toronto.ctvnews.ca READ MORE ... 67% of Millennials Have No Savings for a Home Down Payment. How Do You Compare? Motley Fool Press Release. theglobeandmail.com READ MORE ... House of the week: Bungalow has luxury features with a rustic feel in Mississauga | INsauga A custom-built bungalow offers luxury features set on a tranquil property near shops and transportation. insauga.com READ MORE ... How much home can you buy for $500,000? What does $500,000 get you today in Edmonton’s new home market? That’s what Postmedia set out to discover. Further, if you’re wondering why we’re talking about $500,000 for a new-built home in this city, which has been described as one of Canada’s more affordable housing markets, that appears to be the new benchmark for those interested in an entry-level home — not a condo — in today’s local marketplace. That $500,000 figure was chosen as the... msn.com READ MORE ... Cottage of the Week: $2.5 million for a staggering 75-acre former ski resort in Simcoe County - Toronto Life 1,077,815 Torontonians can’t be wrong. torontolife.com READ MORE ... Canada's housing affordability crisis may persist for years despite rate cuts Buying a house may remain out of reach for many Canadians for the foreseeable future, with mortgage costs unlikely to fall enough to offset lofty home prices and weak spending power, economists and real estate agents say. Even with expectations that Bank of Canada will keep cutting rates in the coming months, the issue of home affordability - which has strangled Prime Minister Justin Trudeau's poll numbers - is unlikely to fade before the next election. The mandate for the Liberal minority government ends at the end of October 2025, but an election could come well before then, with the Conservative opposition spoiling to end Trudeau's nine-year run at the top. ca.finance.yahoo.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 ... Toronto home prices inch up as buyers adapt to mortgage rate landscape Toronto area home sales jumped by 17.9 per cent year over year in February while benchmark home prices inched up slightly, according to monthly figures released Mar. 5 by the Toronto Regional Real Estate Board. A total of 5,607 properties changed hands during the month, while new listings surged by 33.5 per cent. Data from the real estate board showed the benchmark home price increased by just 0.44 per cent year over year to $1,093,900. TRREB... msn.com READ MORE ... Buying a home may remain out of reach for many Canadians for the foreseeable future | CBC News Buying a house may remain out of reach for many Canadians for the foreseeable future, with mortgage costs unlikely to fall enough to offset lofty home prices and weak spending power, economists and real estate agents say. cbc.ca READ MORE ... Fall could be the best real estate market in years: Report Following a global pandemic, fluctuating inflation and shifting interest rates over the past several years, a Zoocasa report says fall 2024 could be the best real estate market Canadians have seen in years. Using recent data from the Canadian Real Estate Association, the real estate brokerage highlights in it’s new report why this could be […] ottawa.citynews.ca READ MORE ... Posthaste: Toronto ranks fifth in the world for risks of real estate bubble Only Miami, Tokyo, Zurich and Los Angeles are running hotter, according to UBS ranking ca.finance.yahoo.com READ MORE ... Inspectors uncover 'pretty horrible' conditions in Windsor rental units under pilot study | CBC News Inspections found units with issues that have required some tenants to be removed from their units because of safety concerns. cbc.ca READ MORE ... The maximum allowable rent increase in B.C. will be 3% in 2025 Next year’s allowable rent increase in B.C. will be three per cent, based on the rate of inflation, says the provincial government. That’s down from the 2024 maximum increase of 3.5 per cent. “Tying the allowable increase to inflation saves renters hundreds of dollars, over the previous government’s policy of inflation plus two per cent,” Housing Minister Ravi Kahlon said in a statement on Monday, referring to the former B.C. Liberal rental rate... msn.com READ MORE ... Canada's rent prices hit an all-time record high and Quebec is actually looking pretty good Moving Day may have been tough... but apparently, it could be worse. msn.com READ MORE ... Jury: Lexington landlord got rental aid from city but didn’t use it to help tenants The man was convicted of wire fraud and aggravated identity theft in connection with money from COVID-19 relief programs. ca.news.yahoo.com READ MORE ... The Pay Gap Penalty: How Much Longer Do Women Need to Save for a Down Payment? By Zoocasa The Pay Gap Penalty: How Much Longer Do Women Need to Save for a Down Payment? ca.investing.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

😊 30th Sep 2024 - This Ontario City is one of Canada's Cheapest and has 'button-cute' Homes under $400K

💥 Monday 30th September 2024 💥 Toronto GTA Power Of Sale FREE Listings! Toronto Real Estate Daily: Hot Picks! "Transforming Real Estate Dreams: Free Reports & Latest Listings!" "Toronto Real Estate Daily: Hot Picks" is your daily guide to the best opportunities in Toronto's dynamic real estate market. Every day, we bring you a curated selection of the hottest property listings, emerging trends, and expert insights to help you make informed decisions. Whether you're buying, selling, investing, or simply interested in the market, our daily hot picks ensure you're always ahead of the curve. Stay connected to the city's real estate pulse with "Toronto Real Estate Daily: Hot Picks." Can buyers expect different levels of competition or bidding dynamics when pursuing properties under "Power Of Sale Listings" compared to traditional listings, and what strategies can they employ to increase their chances of success? Yes, buyers can expect different levels of competition and bidding dynamics when pursuing properties under "Power of Sale Listings" compared to traditional listings. Here’s how these dynamics differ and some strategies buyers can employ to increase their chances of success: Differences in Competition and Bidding Dynamics Competition Levels Power of Sale Listings: These properties are often sold by lenders after a borrower defaults on their mortgage. As a result, they may attract buyers looking for deals, but they can also deter some buyers due to the perceived risks associated with purchasing a distressed property. This can lead to varying levels of competition, sometimes resulting in fewer bids compared to traditional sales. Traditional Listings: These properties are typically sold by motivated sellers who are actively marketing their homes. In a competitive market, traditional listings can generate multiple offers, leading to bidding wars, especially if the property is in a desirable location or is priced attractively. Bidding Dynamics Power of Sale Listings: The bidding process for power of sale properties can be less structured than for traditional listings. Lenders may not always provide a set deadline for offers, leading to uncertainty about when to submit bids. Additionally, buyers may encounter properties that require significant repairs, which can make other buyers hesitant, thereby reducing competition. Traditional Listings: Traditional sales often have set offer dates and more structured bidding processes. Sellers may encourage multiple offers to drive up the sale price, creating a competitive atmosphere. Property Condition and Disclosures Power of Sale Listings: These properties are typically sold "as-is," meaning the buyer must be prepared to take on any necessary repairs or issues without recourse to the seller. This lack of seller disclosures may create uncertainty, potentially deterring some buyers and affecting competition levels. Traditional Listings: Sellers usually provide disclosures about the property’s condition, allowing buyers to make more informed decisions. This can encourage more buyers to participate in the bidding process, as they have a clearer understanding of what they are purchasing. Strategies to Increase Chances of Success Conduct Thorough Research Market Analysis: Before making an offer on a power of sale property, conduct thorough research on comparable sales in the area to understand the fair market value. This knowledge can help you make a competitive but reasonable offer. Property Condition: Investigate the property's condition as much as possible, even if it’s sold "as-is." This may involve hiring an inspector to assess any visible issues. Understanding the potential costs of repairs can inform your bidding strategy. Be Prepared for Quick Action Flexible Financing: Have your financing in order before submitting an offer. Being pre-approved for a mortgage can give you an edge, especially if other buyers are not as prepared. Quick Offers: If you find a power of sale listing that meets your criteria, be ready to submit your offer quickly. Speed can be advantageous, especially if the property has drawn interest from other buyers. Consider Lower Offers Initially Bidding Strategy: Since power of sale listings may be less competitive, consider starting with a lower initial offer. The lender may be willing to negotiate, especially if the property has been on the market for some time. Engage an Experienced REALTOR® Professional Guidance: Work with a REALTOR® who has experience with power of sale properties. They can provide valuable insights into the process, help you understand the nuances of bidding on these listings, and navigate negotiations effectively. Understand the Terms of Sale Review the Purchase Agreement: Carefully review the terms of sale for power of sale properties. Understanding the contract details can help you avoid surprises during the process and allow for better planning regarding closing costs and timelines. Assess the Potential for Repairs Budget for Renovations: Prepare for potential repair costs by setting aside a budget. If you’re comfortable taking on a fixer-upper, this can make power of sale properties more appealing. Patience and Persistence Longer Search: Be prepared for a potentially longer search process. Power of sale properties may not always be move-in ready, and finding the right property may take time. Patience and persistence can pay off in the long run. Conclusion Buyers pursuing properties under power of sale listings can experience different levels of competition and bidding dynamics compared to traditional listings. By understanding these differences and employing strategies such as thorough research, readiness to act quickly, and seeking professional guidance, buyers can increase their chances of successfully acquiring a property through this avenue. This Ontario city is one of Canada's cheapest and has 'button-cute' homes under $400K You can enjoy city life without a huge price tag. msn.com READ MORE ... Neighbours clash over shared laneway: Ontario court limits usage after dispute Learn about the legal dispute over shared laneway use in Ontario. Find out how proactive communication could have prevented the conflict realestatemagazine.ca READ MORE ... House of the Week: $4.9 million for an enormous ex-schoolhouse near Trinity Bellwoods stuffed with stunning art - Toronto Life 1,077,815 Torontonians can’t be wrong. torontolife.com READ MORE ... Ottawa's mortgage shakeup a bonanza for homeowners and lenders Here are 6 things to know about Canada's mortgage policy windfall. Find out more. gananoquereporter.com READ MORE ... Average rents in St. Catharines up three per cent in August year-over-year: Report Canada-wide rents experienced 3.3 per cent year-over-year increase in August. Photo Credit: iStock.  The average one-bedroom rent in St. Catharines was down 2.1 per cent month-over-month to $1,677 in August 2024, according to the latest Rentals.ca market update. However, one-bedroom rents are up three per cent year-over-year from August 2023. Meanwhile, a two-bedroom unit in […] niagaraindependent.ca READ MORE ... Secondary Dwelling Units are more feasible than ever—but beware the rules Thinking of building a secondary unit on your property or in your home? pelhamtoday.ca READ MORE ... Canadian GDP Has Never Contracted Like This Outside Of A Recession - Better Dwelling Canada’s economic output is stronger than expected but far from impressive. Statistics Canada (Stat Can) real Gross Domestic Product (GDP) grew in July, following up a flat month. Any positive expectations are cooled by the details, revealing a few only-in-recession data points. That includes government stimulus in the form of public sector expansion being one […] betterdwelling.com READ MORE ... Luxury homebuyers stay patient as prices stabilize across Canada Buyers know exactly what they want and are willing to wait, report shows mpamag.com READ MORE ... A $4 million Ontario bungalow is peak mid-century living Just off Morrison Rd. in Oakville is a mid-century modern dream house that's more than just a good renovation, and 1250 Braeside Dr. has a wholesome … blogto.com READ MORE ... The Toronto Real Estate Bubble Is So Big It Breaks The UBS Index - Better Dwelling Toronto real estate has once again assumed its natural position as one of the biggest bubbles in the world, according to a Swiss banking giant. UBS released its 2024 Global Bubble Index, an annual scorecard of the riskiest real estate markets in the world. Toronto climbed into 5th place, but managed to lower its risk […] betterdwelling.com READ MORE ... Ontario landlord wants tenant to sleep on floor of basement for $800 a month Finding a place to live is no small feat—especially when you're on a tight budget. Making matters worse, many landlords in Ontario are currently offe… blogto.com READ MORE ... Canada's new mortgage rules could make it easier to buy a home — Here's what you need to know These "bold" changes aim to help younger Canadians buy homes. msn.com READ MORE ... Montreal tenant battles ongoing mould issue A Montreal tenant says she feels neglected and helpless as mould continues to spread under her home, with no action taken by the Société d’habitation et de développement de Montréal (SHDM) to address the issue. Kaleen Schrouder has been dealing with mould problems for years. In December 2022, she temporarily relocated for seven months while […] montreal.citynews.ca READ MORE ... There's Never Been a Worse Time to Buy Instead of Rent It is now 52% more expensive to buy a home than to rent one because of climbing mortgage rates. msn.com READ MORE ... This Week's Top Stories: Canadian Real Estate Investors Undeterred, & GDP's Recession-Like Plunge - Better Dwelling Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Flippers Are Still Near Record Levels   The death of the Canadian real estate flippers has been greatly exaggerated. Bank of Canada (BoC) data shows 2.5% of homes sold in Q2 2024 were purchased within the past 12 months—only seeing […] betterdwelling.com READ MORE ... Toronto home built in 1891 boasts a basement large enough for a bowling alley There is no shortage of jaw-droppingly gorgeous homes in Toronto, but it's still not every day that you'll find a home with that je ne sais quoi.  Bu… blogto.com READ MORE ... Canada's rent prices hit an all-time record high and Quebec is actually looking pretty good Moving Day may have been tough... but apparently, it could be worse. msn.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 ... How are top mortgage lenders approaching the current market? Executives discussed strategies at the 2024 Canadian Mortgage Summit mpamag.com READ MORE ... Palatial $11 million Ontario home comes equipped with car elevator and theatre The only thing most people know about Kleinburg is that the McMichael Canadian Art Collection is there.  While it is a wonderful art gallery, what so… 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: Articles in this newsletter are generated by AI." If you no longer wish to receive these Emails, please Unsubscribe Here