August 15, 2023
The First Home Savings Account (FHSA) is specifically designed to help first-time homebuyers save for their down payment without having to pay taxes on the interest earned on their saving
August 15, 2023
The average price across the region continues to paint a blurry picture. Last month you may recall, the price was up from May by $30,562 or 4.33%. But May was actually down from April by $12,602 or 1.75%. Now the sales figures have come in for July and the average is a somewhat disappointing $717,398. That’s down from June by $19,093 or 2.59%, pretty much where it was at the end of April. Still up $61,061 or 9.30% from year end 2022 which is encouraging. But it’s finding it difficult to make solid headway. Gaining one month and then giving back some of those gains the next.
August 15, 2023
I’d like to talk to you today about multi-family residential buildings. As you develop your investment portfolio, you’ll absolutely want to have some multi-family buildings in the mix. Of course, when I speak about multi-family this can encompass all the way up to high-rise apartment buildings containing hundreds of rental units. But for most of us, we are not at and likely will never be at that level of investment. However multi-family can also include your typical duplex or triplex. And that is where most of us are going to be involved. In fact, CMHC and most banks draw a line at 4 units. Anything above 4 units is considered commercial and is handled by their commercial division. Four or fewer are under the residential umbrella.
August 15, 2023
In 2020, Ontario saw a sharp decline of 36% in the number of married couples. This is due largely to individuals who choose to carry on as a “common law” couple. This choice is most popular among couples 65 and older, most of whom were previously divorced and do not want to remarry. Notwithstanding the increased occurrence of common law couples, there is no legislation in Ontario that automatically protects an unmarried partner in dividing property when there is death or separation.
The Not-for-Profit Corporations Act, 2010 (ONCA) in Ontario, Canada, has recently undergone updates to streamline processes, increase accountability, and strengthen governance within not-for-profit corporations. The amendments bring significant changes, such as simplifying the incorporation process, allowing for profit from commercial activities, providing options for financial reviews, and enhancing members' rights. This article aims to summarize these key changes and their implications for not-for-profit organizations.
It’s always interesting to look at the numbers each month as they come in and see how they compare to the ‘feel’ of the marketplace. The numbers are now in for June and once again they seem to be giving a mixed picture. Let’s start with price.
July 17, 2023
When it comes to homeownership, many of us dream of the day we will be mortgage-free. While most mortgages operate on a 25-year amortization schedule, there are some ways you can pay off your mortgage quicker!
July 17, 2023
Once a year, society sets aside one special day to honour the support personnel that keep our companies running. It’s called Administrators’ Day and it generally falls in the last week of April. It’s a special day for us here at RE/MAX Garden City Realty because our administrative staff are very special indeed. In fact, they are amazing! We’ve taken a bit of liberty with the event by moving it from April to June. And the motivation for that transition is weather.