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Dear friends, November 2023 – Real estate Market Update Letter.

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November 2023 Dear valued clients Though not shocked, we are startled nonetheless. Despite rising mortgage rates and “”nervous”” expectations about how prices will be affected, sales numbers and prices were similar to previous year. In October, realtors in the Toronto area sold nearly 4,700 houses, with an average sale taking just 21 days. Year to […]

Understanding Land Transfer Tax on Inherited Property Ontario

land transfer tax on inherited property ontario

Inheriting property can often be a bittersweet experience if coming in the wake of a loved one’s passing. While it can be a financial boon, it also comes with its own complexities, especially regarding taxes. In Ontario, the Land Transfer Tax (LTT) is a significant consideration for anyone involved in real estate transfer. But how […]

Can You Use RRSP for Pre Construction Homes?

can you use rrsp for pre construction

The dream of being a homeowner is an important milestone in one’s life, and for many Canadians, it can be a financially challenging endeavour. However, a hidden gem in the Canadian financial landscape can help you turn this dream into reality – the Registered Retirement Savings Plan (RRSP). Let’s explore together how you can leverage […]

Elfs Real Estate: What Is It And Why Does It Matter?

real estate appraisal

In the ever-evolving world of real estate, there’s a term that’s been gaining traction and is crucial for both buyers and sellers to understand: ELFs Real Estate. The term ‘ELF‘ stands for Efficient, Low-cost, and Functional properties, and it represents a new wave of homes that cater to modern needs without breaking the bank. Understanding […]

Who Pays Land Transfer Tax? – Your Ultimate Guide

who pays land rtansfer tax

Transfer taxes play a pivotal role in the realm of real estate. They represent a charge levied on the transfer of ownership or title of property from one entity or individual to another. Naturally, the question of who pays land transfer tax comes to mind. This tax can be imposed by various levels of government, […]

Understanding the Mortgage Calculator Interest Rate

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A mortgage calculator is a useful instrument for estimating monthly mortgage payments based on a variety of factors, including the interest rate. By inputting different interest rates into the mortgage calculator, you can see how changes in the mortgage calculator interest rate can affect your monthly payment. This can help you better understand your potential […]

What You Need to Know to Calculate Land Transfer Tax Toronto?

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The Land Transfer Tax, often abbreviated as LTT, is a tax levied by the municipal government of Toronto on the transfer of property ownership. It’s a one-time fee calculated based on the property’s value and is payable by the buyer. This tax revenue contributes significantly to funding essential city services, including infrastructure development, transit, and […]

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