Date Posted: January 21, 2019
Outside of the Ottawa market, especially in Toronto, the land transfer tax is significantly higher for those purchasing home. Insurable rates are also capped at $1 million-dollar home which has more of an impact on the Toronto or Vancouver markets. This impacted buyers and sellers, as well as business for Real Estate Agents and Mortgage Brokers in those markets over the last year.
Colder weather creates a chilly, drafty house. When selling, ensure your temperature is set to a warm and comfortable level during showings.
When buying a new build, ensure you have Real Estate Agent representation. Paul had clients in the past that bought a new build that weren’t aware of what was being built behind them in the future. Now, with a strip mall in place, the value of that home was impacted.
When buying a new build home, buyers have a 30 day and 1 year follow-up coverage. Immediately after closing, have a reputable home inspector come through and make thorough notes on any issues. This way you have it documented by a professional to give the report to the builder to rectify.
Thinking of selling your home? Getting a home inspection before listing in order to rectify any faults that may halt a sale with prospective buyers. Low inventory levels continue through the Ottawa market which means it’s a great time to get your home listed before spring.
Using a mortgage investment corporation can be very helpful for certain clients, especially when your bank is not willing to work with you. Speaking with your Mortgage Broker to understand all your options can help someone understand the benefits.