Designing a home is a highly personal and subjective process, and the latest trends can vary depending on the region and culture. However, there are some general principles and current trends that you may find helpful when designing your home:Open Floor Plans - Open floor plans that create a spacious, light-filled environment are still popular. This design allows for natural light to penetrate more of the...
Property management can be approached in two ways, each with its own pros and cons.Hiring a Property ManagerOne approach is to hire a property manager who will handle all rental-related tasks. This includes renting out the property, collecting rent, addressing tenants' concerns, arranging for maintenance or repairs, and cleaning the unit between turnovers. The fee for a property manager varies depending on...
Investing in your primary residence can be a wise choice since any profits made from the sale of the property are tax-free. This is one of the best ways to earn money in real estate without having to share it with the government. If you live in a growing city with a constant influx of people, companies, and jobs, your home will most likely appreciate in value naturally. However, if you want to increase...
Househacking is a popular way to earn passive income through real estate, and it involves renting out a part of your living space. This approach is ideal for those who own a home and want to offset expenses or pay down their mortgage. The good news is that you can househack regardless of your housing type, whether it's a house, condo, or any other type of property. Here are some options to consider:Rent...
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The Canadian Federal government has introduced the Underused Housing Tax Act (UHT) to prevent foreign buyers from purchasing residential properties and leaving them vacant. The act came into effect on January 1, 2022, and the filing requirements and forms were recently released by the Canada Revenue Agency (CRA). Note that this is not the same as the Toronto Vacant Home Tax. It is important to note that...
Deciding between a fixed or variable mortgage rate is an important consideration when buying real estate. Both options have their pros and cons, and the choice ultimately depends on your personal financial situation and risk tolerance.A fixed mortgage rate offers stability and certainty, as your interest rate and mortgage payment remain the same throughout the term of the mortgage, regardless of any...
As a rule of thumb for selecting a condo for investment, we can consider the following criteria.Middle floors are the best value. If the floor is too low, it will affect its resale value a bit. If too high, the original floor premium will make the original price a bit more expensiveClose to transit or university. Either one of these criteria will create demand for condos. Express 2 is a few mins to TTC...
If you consider remaining inventory as the suites that no one wants, think again. Developers do not always make all the units within a project available at the same time; instead, they may release new suites weekly or monthly after an initial launch. As for pricing, many buyers assume that the best prices are only available during a project's initial release, but this is not always true. While pricing...
Buying a home has several potential benefits compared to renting:Equity: When you own a home, you build equity over time. This is the difference between the value of the home and the amount of the mortgage you still owe. As you pay off your mortgage, you own a greater share of the property, which can provide long-term financial benefits.Stability: Owning a home provides a sense of stability and security,...
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