Real Estate Insider: March 2021
Posted on March 29th 2021 by Lalovich
Welcome back, Real Estate Insiders! Get ready to crane your necks up—way up—as we talk about the sky-high equity on your home (and how to “rocket” your way into it), a blast from the real estate past, Elon Musk’s influence over the future of Canadian real estate, and more!
Buying Vs Renting: Which Is Cheaper These Days?
In some of Canada’s largest real estate markets, the gap between the cost of buying and renting is shrinking, with some people actually paying a premium to own! Read about the shrinking margins between buying and renting and how much more money some people are paying just to own their home!
WE’RE #3! WE’RE #3!
That’s not usually something to boast about, but when you’re on the list of most affordable cities in Canada it’s something to take note of! The way things are going, we might not be on this list for long. Read about why city folk are flocking to smaller communities post-pandemic.
Capital Gains: Who’s Exempt?
If you subdivide your double lot and sell off the unused half, will you have to pay capital gains? It’s not simply a yes or no question. Read here for an in depth look at the answer.
Are You Equity Rich?
These days, it seems that anyone who has bought a home three or more years ago can cash out with more than double what they paid. The question is, where would they go? Read here the three options you have on what to do with all that equity sitting in your home.
Don’t Leave Money on the Table!
It’s not just owner-occupants that qualify for a new build HST rebate: investors can also qualify if they meet the required criteria. It is believed that 25-50% of condo investors are leaving the rebate money unclaimed—don’t let that be you! Read here if you qualify before it’s too late.
Proving Damages: What You Need to Know
If a buyer backs out of a sale agreement, the seller must either force the buyer to close, or resell the property and sue for damages. This is not as simple as some people might think, as proving damages can be difficult. Read about the entire process to make sure you are educated in the event you ever find yourself in a similar situation.
Suburban Retrofitting: A Sign of the Times
The suburbs are changing, along with the people who are living in them. Discover how they are retrofitting old malls, motels, office parks, and more into modern buildings while tackling modern issues. Sometimes change is a good thing!
Don’t Have the Cash for a Strong Deposit? Deposit Rocket Could be the Answer!
A new company is adapting to the fast-paced market changes of Canadian real estate. Deposit Rocket allows you to instantly tap into the equity in your home (or your parents’ home, if you’re lucky) for the deposit on an Agreement to Purchase! Read more about this up and coming company and see if they could help you get your dream home!
Let Your Equity Work for You!
These next two articles give you the options you have to access the equity in your home to turn that “dead” money into a great investment or some extra cash!
Using Equity to Buy Another House
4 Ways to Reap the Benefits of Your Home Equity
Take a Stroll Down Memory Lane
Discover the incredible differences in the Real Estate industry from 30 years ago to present. Imagine what it will be like in 30 more years!
Mortgage Broker Vs Bank: Who Has the Best Rates?
Learn about the benefits of using a Mortgage Broker and why it doesn’t hurt to make a few calls yourself!
Things to Consider When Finishing a Basement
With everyone being home a lot more, home renovations are at an all time high. If you’re planning to turn your grungy old basement into a beautiful living space, read this planning guide on what to expect!
Township Held Liable for Failing to Properly Inspect Construction
Considering all the hoops and requirements that municipalities make people jump through for new construction, the least they could do is hold up their end of the bargain! When this couple went to get an addition put on their cottage, they discovered many structural deficiencies that should have been found by the city inspectors. Read more for the outcome of the trial!
How Elon Musk is Affecting Canadian Real Estate
Sounds impossible? While Musk has no direct correlation with the Canadian Real Estate market, he will be fundamental on how the market shift over the next decade. How you ask? Read here to find out! (Hint: it has a lot to do with satellites).