Home Buying Guide Average Cost of Utilities in Toronto Anyone looking to rent or buy a home in Toronto asks this key question "how much are the monthly utility costs?" so we thought we should put this question to rest for our clients and soon-to-be Torontorians.
Home Buying Guide All Closing Costs to Consider When Buying a Home in Toronto You’ve set a goal, managed your spending and saved the down payment for your home in the GTA. How exciting! Now you’re all set to buy a home. But, wait! What are all these closing costs you keep hearing about and how much more should you be setting aside for your Toronto home purchase?
Buying Buy With Dwelly, Save Thousands: Why We Give Back 50% Of Our Commission To Home Buyers Re-designing the way real estate is done has been at the forefront of everything we do at Dwelly. As part of our mission to humanize real estate transactions and make the home buying process more affordable, we commit to giving Dwelly buyer clients 50% of our commission.
Home Buying Guide Home Insurance Problems to Watch Out for Before Buying Home ownership is a major milestone full of commitments and financial obligations. That’s why it’s so important to make sure you have the right house. Home insurance is pretty affordable, but it always pays to be vigilant. Check out these common home insurance pitfalls
COVID19 How to Navigate an Offer Night (as a Buyer) Amidst the Pandemic If you (or someone you know) have experienced the stomach-turning, anticipatory, back-and-forth process of placing an offer on offer night, then you can only imagine what the COVID-19 pandemic has added to the mix.
Home Buying Guide Your Guide to Buying Pre-Construction Condos in Toronto Purchasing pre-construction homes are becoming increasingly popular in Toronto nowadays but what does buying a pre-construction home actually mean? What exactly is the difference between buying a pre-construction home versus re-sale?
Home Buying Guide The Different Types of Homes & Home Ownership When it comes to homes and home ownership there are a variety of different types of properties and differing ways you can own them (or part of them). In this article, we will go over the most common styles of properties and the major ownership types.
Home Buying Guide Incentives for First-Time Home Buyer in Toronto & Ontario Over the years the Government of Ontario (and Toronto) have introduced a few programs in order to assist First Time Home Buyers with their first home purchase and ease their entry into the housing market. Here are some details regarding the incentives & programs.
Home Buying Guide Choosing a Mortgage Lender When choosing a mortgage provider, otherwise known as a “lender”, you have a few main options to choose from, these include banks, private lenders, Trust Companies or Credit Unions.
Home Buying Guide What is a Down Payment? The very first payment you make for officially purchasing your home is the down payment. The down payment is usually shown as a percentage. In Canada, you have to pay a minimum of 5% for the down payment of your home.
Home Buying Guide Calculating your Mortgage Payments Formally, a mortgage is a legal agreement by which a bank (or another mortgage lender) lends a debtor money in exchange for taking the title of the debtors property. The bank holds this title until the debt is fully repaid.
Home Buying Guide What is a Mortgage Pre-Approval? A Mortgage pre-approval is when a potential mortgage lender looks at your finances to find out the maximum amount they will lend you and what interest rate they will charge you.
Home Buying Guide The Miscellaneous Costs Associated With Buying A Home In addition to lawyer fees, LTT and HST, there are a few other payments that you are expected to make on closing day.
Home Buying Guide Understanding the Harmonized Sales Tax (HST) in Real Estate if you are purchasing a newly built home in Toronto as an investment, then there is another payment which you should include under your closing costs, which is Harmonized Sales Tax (HST). Buyers that will be using the new home as their primary residence are exempt from paying HST on the home.
Home Buying Guide Real Estate Lawyers 101 When it comes to reviewing status certificates, figuring out your final closing costs, understanding tax implications, and receiving real estate legal advice a real estate lawyer is the best person to have answering your questions.
Home Buying Guide Calculating your Land Transfer Tax in Ontario and Toronto Land Transfer Tax (LTT) is a provincial tax that you, as a home buyer, must pay when purchasing a property. The amount you pay for LTT depends on the province you purchase is located within, as well as the price of your new home.
Home Buying Guide Renting vs Buying a Home: What's Right for You? One of the harder questions to answer is whether you should buy or rent the place you call home. In this article, we go over the costs of home ownership and renting, while pointing out the advantages and disadvantages of both.
Home Buying Guide Toronto Real Estate: Understanding The Foreign Buyer Tax Are you a foreigner looking to buy a home in Toronto? Here’s what you should know prior to purchasing real estate in Toronto and the surrounding area.
Home Buying Guide Overview of the Home Buying Process Purchasing a home should be an exciting and thrilling process, it's a rare and important event that happens only once in a lifetime for most people. Knowledge of all the steps involved - from search to close is essential to making sure your experience goes smoothly.
Home Buying Guide Understanding Mortgages: Variable vs Fixed Rates Explained When applying for a mortgage, you will have multiple rate types to choose from. The two most common types of mortgages are variables-rate mortgages and fixed-rate mortgages. The type you choose will vary based on your income and risk tolerence level.
