The decision of the federal government to reduce GST to 5% in the new year has new homeowners breathing a sigh of relief. According to government figures, a family purchasing a new $250,000 home will save $3,200 in GST, of which $1,600 is from the reduction in the GST rate from 6% to 5%.
This [...]

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Canadians have discovered mortgage brokers. Almost one in three home buyers now go to a broker for their mortgage, and the trend is growing fast. (In the U.S., brokers negotiate 80% of mortgages!). However, there are still many Canadians who are unaware of the differences between mortgage brokers and bank mortgage specialists, commonly [...]

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We can’t deny the huge condo boom in Toronto. Everywhere we turn we see high rises and many new developments being built within the city’s core. Take 1 Bloor condos for example, they had people lining up for the sales office to open a good week in advance. Surprisingly, there were a [...]

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Toronto is becoming very much like NYC and London as far as affordability for first time home-buyers. According to a new study from Stats Canada, 71 percent of first-timers bought in a rural area or small town compared with 54 percent who bought in the city. This, however, is often not the preferred choice as [...]

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It’s a frosty day and I simply don’t want to get out of bed. Then reality sets in … got to make a living. On cold days like today, the worst thing that can happen is for your furnace to break down. It’s a good time to get a sense of how your furnace works. [...]

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No brainer - GET Title Insurance.
Before the closing, your lawyer will order a title search which looks for liens against the home and to make sure the property has a clear title. The purpose of title insurance is to protect you against any unforeseen problems or claims against the property. You will be charged a [...]

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Banks are offering longer amortization periods from 30 to 40 year amortizations! And you thought 25 years was a long time.
So what’s the deal? Why are mortgages being offered over longer periods of time? Well simply put, the real estate market is crazy. Rising property prices are causing [...]

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Yeah, I know. December’s just around the corner, which only means one thing…ok…two: the harsh winter weather and Christmas.
To prepare your home for the winter months, here are some tips to ensure you’ll save money, save energy, and stay warm. I mean, who wants to find out their furnace is broken when [...]

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I’m sure you’ve all heard of the controversial land transfer tax issued by the city of Toronto to be effective February 1, 2008. A land transfer tax is basically a tax payable by the buyer on a percentage of the purchase price upon the closing date.
Who is affected?
If you purchased a property and [...]

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