Toronto’s Vacant Home Tax Updates 2024
Buying
In 2022, Toronto introduced a vacant home tax, intended to increase the supply of housing by discouraging empty homes. Effective January 1, 2024, the vacant home tax increased from 1% to 3%. The Vacant Home Tax is calculated based on the Current Value Assessment and occupancy of the previous tax year, meaning that homes deemed […]
New Toronto Assignment Sale Rules 2022
Selling
There has been a lot of talk lately about the new Toronto assignment sale rules and what it all means for both buyers and sellers. But there has also been a lot of misinformation and confusion around what the rules actually mean. So, we went directly to our numerous sources and found out exactly what […]
Sold Over Asking – What This Really Means in Toronto Real Estate
Buying
If you’re like us, you’ve seen plenty of headlines lately that say, “Sold for X dollars over asking!”. Some are reasonable – around $100,000.00 over the list price. And some are just so far-fetched, it makes you question what is actually going on. “Sold for $1 Million over asking!”. HUH? In a hot seller’s market […]
Renovating Before Selling – The Do’s and Don’ts for Your Selling Strategy
Selling
One of the top questions we get from our clients as they get ready to sell is if they should think about renovating before selling their home. Sure, you want to sell it for more than you paid. But the truth is, the “right” answer is complicated because certain renovations will never raise the value […]