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GTA Real Estate Focus: Daily Hot Spotlights!"Your Source for Real Estate Excellence: Reports & the Latest Listings!""GTA Real Estate Focus: Daily Hot Spotlights" is your daily spotlight on the most scintillating and critical developments in the Greater Toronto Area real estate market. Each day, we provide you with a focused update on the hottest trends, market insights, and spotlighted news, delivered directly to your inbox. Whether you're a potential buyer, seller, investor, or a real estate enthusiast, our "Daily Hot Spotlights" cover a wide range of topics, from market dynamics to investment opportunities and expert analysis. Stay in the spotlight with the market and make informed decisions with "GTA Real Estate Focus: Daily Hot Spotlights" as your trusted source for navigating the dynamic GTA real estate landscape. In Toronto and many other places, there are differences in the warranties or guarantees offered for new homes compared to resale homes. These differences are primarily related to the age of the property and the applicable laws and regulations. Here are some key distinctions: New Homes: Tarion Warranty: In Ontario, including Toronto, new homes are typically covered by the Tarion Warranty Corporation, a government-regulated entity. This warranty program provides protection to buyers of new homes and condominiums. It includes coverage for defects in workmanship and materials, major structural issues, and delayed closing. The coverage typically spans over several years, with specific terms for different aspects of the home. Builder's Warranty: In addition to the Tarion Warranty, many builders also offer their warranties, often referred to as builder warranties. These warranties can provide additional coverage for specific elements of the home. The details of the builder's warranty can vary from one builder to another. New Construction Standards: New homes are expected to meet current building codes and construction standards, which often include energy efficiency and safety features.
Resale Homes: No Standard Warranty: Resale homes are typically sold "as-is" or "buyer beware." There is no standardized warranty or guarantee for resale homes, and buyers are responsible for conducting their due diligence, including property inspections. Home Inspection: To assess the condition of a resale home, buyers often hire professional home inspectors to identify any issues or defects. The results of the inspection can influence the purchase decision and potential negotiations with the seller. Seller Disclosures: Sellers of resale homes in Ontario are required to complete a Seller Property Information Statement (SPIS), which is a disclosure document. While the SPIS is not mandatory, it can provide information about the property's condition to potential buyers.
It's important to understand that the warranty and guarantee terms for new homes can vary based on the builder and the specific development. Buyers of new homes should review the Tarion Warranty documentation and any additional warranties offered by the builder to understand the extent of coverage. For resale homes, buyers should consider the need for a thorough home inspection and carefully review any disclosures provided by the seller. Additionally, it's advisable to work with a real estate agent who can help navigate the purchase process and provide guidance on understanding the condition and history of the property.
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It’s no secret that it’s been difficult–if not impossible–for tenants across Canada to find affordable rental homes and Burlington is no different. According to the latest data from Rentals.ca, Burlington is one of the most expensive cities for renters in Canada, with the average rental rate for a one-bedroom sitting at $2,217, up 5.7 per […]
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Trying to find an affordable place to rent in Ontario's exorbitant housing market can be like trying to find a needle in a haystack, as evident by ...
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If you're not using the latest policy comparison tools, you're probably paying too much.
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What 4,100-square-foot Prairie-style residence would be complete without a wall of mirrors, coffered ceilings, a secret bar, a steam room and a tennis court?
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Canada’s leaders are beefing with the country’s central bank over affordability. Last month, Premiers notified the Bank of Canada (BoC) that rate hikes are making life unaffordable, especially when it comes to housing. The BoC fired back a warning that they shouldn’t be trying to influence a central bank. That’s technically correct, but leaves people […]
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Canadian inflation is slowing and that may prevent the Bank of Canada (BoC) from hiking rates further. The National Bank of Canada (NBF) warns that even if there’s no hike, a significant impact from previous rate hikes has yet to be felt. A rate hike takes years to work its way through the market, and […]
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The central bank will aim for a delicate balance in its coming policy announcements, DLC's chief economist says
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Rates also unlikely to drop in the near future, observers warn
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Achieving housing affordability is an 'all-hands-on-deck' effort that will require more buy-in from the private sector, the Canada Mortgage and Housing Corporation says.
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As tougher lending requirements have more homeowners turning to the private mortgage market, brokers say having a strategy to eventually get out of the loan is crucial, or they risk
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Equifax Canada says young Canadians are more anxious about their personal debt and more likely to have missed a bill payment this year.
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The head of the Canada Mortgage and Housing Corp. says the Crown corporation isn't expecting a spike in defaults unless the labour market sees employment fall significantly.
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By Laura Hanrahan October 29th, 2023 BURLINGTON, ON A new mortgage renewal survey from Royal LePage released on Thursday found that a sizable 68% of borrowers with a mortgage that will renew are co…
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For last decade and a half, the variable rate mortgage was something of the preferred option for prospective Manitoba homeowners. But that is starting to change in light of a series of interest rate hikes over the last 18 months. “I don’t many people thought there would be as many hikes in such a short period of time because history showed that it hasn’t happened in 50 years,” said Chris Pennycook, sales representative for Royal LePage Dynamic...
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Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Still Hasn’t Seen The Full Impact of BoC Rate Hikes: National Bank The impact of the Bank of Canada (BoC) rate hikes have yet to be fully felt. That was the take from National Bank, one of Canada’s Big Six banks. […]
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Saving up to buy a property has become more achievable in several markets, Zoocasa says
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Bank flags risks of homeowners renewing at higher rates
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How the value of a house can be affected by a history of murder, suicide, ghosts, or hauntings, explains Toronto real estate lawyer Bob Aaron.
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Saskatchewan residents adding a rental suite to their home could receive up to $35,000 from the province in a program the government says will help homeowners with rising costs while also increasing the availability of rental units.
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HALIFAX - A national housing advocacy group delivered about 400 stories of renters' difficulties in dealing wi...
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An owner Victoria's Janion building says despite living in the unit he is being affected by the province's new short-term rental rules.
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At 1,900 square feet, this semi comes with four floors, a jewel-box staircase, a main suite that looks like a tent and a courtyard out back
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How Long It Takes to Save Up a Down Payment in Canada’s Most Affordable Cities
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Many factors determine the ideal timing for selling a property, such as market conditions, your mortgage terms, and potential tax implications. This article will cover these aspects to help you make an informed decision.
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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!"
Click Here For Hot New Toronto Regional Real Estate Board [TRREB] MLS® Listings. Call | Email me for more Info on any Greater Toronto Area 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
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