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Cannabis Legalization & How It Affects Homeowners

Wednesday Oct 17th, 2018

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On October 17, 2018 cannabis was officially legalized throughout Canada. The legalization of recreational cannabis is one of the largest policy changes in Ontario as of late. Here's what you need to know: Individuals of age are permitted to possess up to 30 grams of cannabis Tougher drug-impaired driving laws including zero tolerance for young and novice drivers Up to 4 plants may be grown per household including in apartments. Note that it is per residence, not per... [read more]

Ontario's New Measures To Cool Our Scorching Hot Real Estate Market

Friday May 12th, 2017

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Rental Market Currently, buildings built before 1991 were exempt from rental increase guidelines. Ontario plans to expand rent control to all private rental units, including new condos Standardized leases and other changes to the Residential Tenancies Act Multi-residential apartment buildings will be taxed at similar rates to other residential properties More funding to encourage construction of new rental apartment buildings Foreign Buyers & Real Estate... [read more]

Landlords & Condos vs. Airbnb

Thursday Mar 23rd, 2017

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The evolution of technology has positively changed the way businesses operate as well as how we live our daily life - but it can also operate as a double-edged sword. From an owner's perspective, Airbnb can be great. Short-term rentals can be profitable each time you host but what happens when you find out your tenant is listing your condo unit without your permission? In major metropolitan cities like Toronto, it is becoming increasingly common. Each condo corporation varies in their... [read more]

How Much Does It Cost To Renovate A Home?

Monday Feb 13th, 2017

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The exact cost of updating your home will depend on its size, what kind of work needs to be done and the types of finishes you choose. Knowing your numbers ahead of time is crucial. After this article, you should be able to set a budget for your project(s) and conclude on needs vs. wants. Paint plays a major role in renovating but the big ticket items are appliances and cabinets - kitchens and bathrooms. Good news is, these two rooms also provide the most return on investment. Here's... [read more]

CMHC Increasing Mortgage Insurance Premiums

Wednesday Jan 18th, 2017

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Effective March 17, 2017, Canada's federal housing agency will be increasing the cost of mortgage loan insurance for homebuyers as part of new regulatory requirements to offset risks in Canada's hot real estate markets, particularly Toronto and Vancouver. It is an attempt to slow down the appreciation of homes by making it more difficult to enter the real estate market. CMHC says the new premium changes are calculated based on the loan-to-value ratio of the mortgage being... [read more]

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