When I meet with buyers for the first time, we usually go through what they are looking for in terms of location, space, etc. When we get to the type of dwelling desired, many buyers who tell me they prefer a house over a condo often mention that they do not want to pay the monthly maintenance fees associated with owning a condominium. Unfortunately, what some buyers do not realize is that they cannot get away from maintenance costs, even when owning a house.
Condo maintenance fees are a monthly… Read the rest
By Eddie
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Also posted in Blog, Buyers, Real Estate News
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Tagged Condo, Condominium, First-time Homebuyer, home operating costs, homeowner, House, maintenance, maintenance fees, operating costs, repairs
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In 2007, as a taxation measure granted under the City of Toronto Act, 2006, Toronto City Council approved a new Municipal Land Transfer Tax, which came in to effect in February 1, 2008.
While first-time homebuyers enjoy a rebate on the Municipal tax of up to $3,725 of both new and existing homes, non-first-time homebuyers are subject to charges on a graduated basis depending on the purchase price of the property.
Mayoral-elect Rob Ford has pledged to remove the Toronto Land Transfer Tax which will save homebuyers $4,725 on the… Read the rest
November 2, 2010 – 11:33 am
By Eddie
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Also posted in Blog, Buyers
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Tagged Buy, Buyer, City of Toronto, First-time Homebuyer, Housing Prices, Land Transfer Tax, Market, Sell, Toronto
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