Recently the Ontario Land Tribunal dismissed an appeal from a handful of Toronto neighbourhood associations that had temporarily put on hold the garden suites program brought in by the City of Toronto back on February 2nd. This program, along with the laneway housing initiative, was introduced to try and help the current housing shortage in…
In this issue: Federal Budget 2022 Addresses Housing Concerns, Some Toronto Residents Against Garden Suite Program & Second Suite Bylaw Information
Adding a second unit in your principal residence is a great way to provide independent living space for a family member or make a little extra money to help pay off the mortgage. There are many things you need to consider as you decide whether to build a second unit. You are permitted to add…
In my last newsletter I wrote about how Toronto City Council has announced a program to allow residents to build garden suites on residential properties in the city. This measure was enacted to help with the current housing crisis, thereby bringing more potential dwelling units to market. Just to reiterate, a garden suite is defined…
The recently released federal budget has addressed several housing issues that have been plaguing Canadians from coast to coast. Here’s a summary of the initiatives intended to make owning a house in Canada more accessible and affordable: 1. Budget 2022 proposes to introduce the Tax-Free First Home Savings Account that would give prospective first-time home…
In this issue: Toronto City Council Introduces Garden Suite Program, Royal LePage predicts that GTA home prices will rise 11% in 2022 & What is an Acceptable Cap Rate These Days?
There was a time that investors wouldn’t dream of buying an income property unless it was a five cap. Nowadays that number can drop to under three. My clients who buy duplexes and triplexes for investment only (not to live in), often ask me what is an acceptable cap rate in the City of Toronto…
Toronto City Council has released a press release announcing a program to allow residents to build garden suites on residential properties in the city: A garden suite is defined as a housing unit, usually located in the backyard of an existing house, but separate and detached from the main house. Garden suites, like laneway suites,…
Royal LePage announced last month that the aggregate price of a home in the Greater Toronto Area increased by 17.3 per cent in 2021 to $1,119,800 as demand continued to outpace supply. It expects that in 2022 prices in the GTA will rise by another 11 per cent, with the aggregate home price reaching $1,243,000…
In this issue: Why are interest rates still so low?, Are Toronto Income Property prices going to come down? & Are cap rates a thing of the past?
This unique property features 3 totally separate 2-Storey ‘houses’, all 2-bed, 2-bath with private courtyards.
In this issue: Toronto Prepares to Tax Vacant Homes Next Year, 2021 YTD Income Property Sales & A Look at Hamilton Area Real Estate – An Investment Property Focus