Real Estate Insider: May 2021
Posted on May 21st 2021 by Lalovich
Welcome back, Real Estate Insiders! The weather is finally warming up here in Ontario, and the real estate market is HOT. In this issue we explore mortgages, the electricity rebate, buying homes with Bitcoin, and more. So prepare for the May two-four long weekend—grab a cold one and relax—and enjoy!
Additional Dwellings: Too Good To Be True?
Recently, all across Ontario and especially in the GTA, there have been zoning changes. The changes allow property owners to build additional dwelling units on the back portion of their property to rent out. Before you go running to the hardware store, read this article to see if an additional unit would be subject to GST/ HST or change your principal residence capital gains exemption. The number might be higher than you think!
Sorry to Burst Your Bubble
While many people see home prices rising rapidly and think “Bubble”, there are many solid economic reasons why home prices are soaring. This article features the basic reasons for the housing boom—and while we aren’t necessarily in a speculative bubble, never underestimate the power of people to take things too far.
Read More: https://awealthofcommonsense.com/2021/04/why-this-is-not-another-housing-bubble/
Pool Party, Anyone?
If you’re thinking of taking the plunge and putting in a pool this summer, it helps to know what to expect. Discover the costs to install each style of pool, the pros and cons, and more!
What’s Better Than 1 Good Reason? 16 Good Reasons!
Here are 16 good reasons why the housing market won’t crash anytime soon. Learn when to enter the housing market, why real estate is a great investment, and more.
Bad Credit? Forget It.
We mean, of course, “it” being getting a good loan from the bank. Read why paying down bad debt can vastly improve your chances of getting good terms for your mortgage, and other great tips!
Open Versus Closed Marriage—Er, I Mean Mortgage!
There are a few scenarios where an open mortgage can make sense. Discover which mortgage type is the best for your current situation.
Calling All Investors
How good of an investment is your rental property? While purchase price and rent are important, there are many factors to consider before purchasing a rental property. Are you ready for a large capital repair or a rise in interest rates? This article highlights all the other risks associated with a rental property before buying (or not buying).
Electrical Prices Under the Unaf-FORD-able Government Explained
Is your electricity bill growing faster than the dandelions in your yard? There’s a reason—and it’s not because everyone is staying at home. Find out why the so-called electricity “rebate” is nothing more than smoke and mirrors to distract voters from what’s actually going on. The verdict is in: we are getting hosed!
Want to Move but Can’t Break Your Mortgage? Then All A-Port!
Read how Porting your current mortgage can save you loads in fees, who’s eligible for a port, what “Porting” is, and more!
Read More: https://www.canadianrealestatemagazine.ca/expert-advice/a-comprehensive-guide-on-how-to-port-a-mortgage-334616.aspx
Mortgage Insurance Versus Life Insurance: Which Is Best for You?
Read here the benefits and downfalls of each, and decide which one is better suited for you!
Hey, Snowbirds—This One’s for You!
Here’s everything you need to know before buying that winter home in Florida—or anywhere else in the United States.
Immigration and Big Cities: Drifting Apart?
Immigration into the big three (Toronto, Vancouver, Montreal) is seeing a significant decrease year after year. So where are they going? Places like Windsor! Learn the stats of immigrants settling in mid-size and rural cities. As Windsor natives, we can see why!
Read More: https://betterdwelling.com/recent-immigrants-to-canada-increasingly-prefer-small-towns-and-rural-property
Pre-Approval Doesn’t Equal Mortgage Approval
Being pre-approved does not guarantee you will get that amount. Things like the property specifics, area, changes to your income, and more can all affect getting that mortgage across the finish line. Have you been pre-approved? Read this article before putting in that non-conditional offer!
Bitcoin and Real Estate: the New Dream Team?
Can you buy real estate with Bitcoin? Yes. Do you want to buy real estate with Bitcoin? The short answer is maybe! This article reviews the pros and cons of purchasing a property with cryptocurrency.
Read More: https://www.canadianrealestatemagazine.ca/news/bitcoin-and-real-estate-can-you-buy-real-estate-with-bitcoin-investments-334637.aspx
How to Finance Your Next Big Home Renovation
Got your eye on a new pool or kitchen, but don’t have the cash in your account? Here are some ways to finance that home renovation to make your dream a reality.