toronto home buyers

What Salary Do You Need For Home Buying in Toronto? It's a great question to ask in this seemingly bearish real estate market climate right now. If you're looking to buy a home in Toronto, and are wondering how much you need to make, you might want to start saving up. According to a new report from RBC Economics, home ownership costs in the city have skyrocketed, driven by soaring interest rates. The...

Who Pays The Ontario Land Transfer Tax? Home Buyers Or Home Sellers? The simple answer to that question is the home buyer is 100 percent responsible for paying the Ontario land transfer tax for the purchase of a condo or house in Ontario. But did you know that home buyers are taxed twice for the privilege of purchasing a Toronto house or condo? The home buyer must pay a municipal and a provincial land...

If you think the Toronto real estate market smells bad these days, with rising interest rates and the desperate need for more affordable housing, it’s about to get a whole lot stinkier. Stink bids in the Toronto real estate market are back. What is a stink bid real estate? A stink bid is essentially a really low ball offer from a buyer well below list price. It’s an aggressive offer tactic used to...

Based on recent home prices and trends, are Toronto real estate prices going down? The Greater Toronto Area (GTA) saw a 39 percent drop in sales compared to one year ago but prices in some areas actually rose by 10 percent. The Toronto Real Estate Board (TREB) attributes the steep drop in sales to higher mortgage interest rates. This has resulted in Toronto real estate prices going down with...

Many rental clients often ask me an for an update on condo rentals in Toronto and their primary question is focused on how much does it cost to rent a condo in Toronto? According to recent stats, the average rent per month for a 1-bedroom condo in Toronto has reached $2,300 per month. The average rental price for a 2-bedroom Toronto condo is now more than $3,000 per month. The average monthly...