Month: October 2020

Investing in a home is a big decision. Whether you’re looking at a house in the suburbs or are looking at condos in downtown Toronto, there is a myriad of factors you need to consider before signing any contracts. The decision you make now will affect your life for years to come.

That’s not to say you should second-guess your decision to move. However, it’s best to be as informed and educated as possible, especially when investing in real estate.

We want to help you make the best decision possible. Keep reading for our essential guide on finding condos for sale in the magnificent city of Toronto.

1. Consider Your Finances

As with any investment, you need to make sure you understand two major components – the costs involved and your own personal finances.

Start by assessing your financial situation. How much money do you earn each month and what are your other expenses? You need to find out how much you can afford to set aside each month for mortgage payments along with all of the other costs involved.

This brings us to our next point. Do your homework for each condo you’re looking at to make sure you understand the costs. Owning a condo means paying for:

• Maintenance fees
• Utilities (hydro, water, heat, etc.)
• Services (internet, cable, etc.)
• Property taxes
• Homeowner’s insurance
• And more

Your mortgage payment may be quite affordable, but make sure you account for all your other expenses too.

2. Identify Your Top Priorities

Next, figure out what your priorities are. If you’re looking for a downtown Toronto luxury condo with modern architecture, you’ll likely want to be searching for newer construction condos in Toronto. If you’re single, a bachelor condo may suit your needs.

Alternatively, if you have a significant other and/or children, you’ll probably want a condo that offers more space. It’s also important to look at what the common elements offer. Some condos come with access to community pools, fitness centres, rooftop patios, and more.

3. Think About Location

If you’re looking for condos in downtown Toronto, obviously you appreciate living in a big city. However, this means finding fast, affordable, and convenient ways to commute.

It may be wise to find a condo that’s near your place of work. If you have children, you also need to consider school districts, nearby parks, and the safety of the neighbourhood. Finally, think about nearby hotspots for shopping, dining, and entertainment.

4. Take a Virtual and In-Person Tour

Now that you know what you’re looking for and what you can afford, you can start shopping around for your best options. Condos in downtown Toronto come in all shapes and sizes. Narrow your search by looking in the most appropriate area and in your ideal price range.

Take virtual tours of the condos using pictures and videos set up by the Realtor. However, pictures can be deceiving, so it’s also a good idea to see these places in person before committing to a new home.

5. Make an Offer

Finally, when you find a condo that meets all of your demands and falls within your price range, it’s time to make an offer. If you’re looking at buying a condo there may be room for negotiation.

It is a wise decision to have the condo appraised and inspected by a certified Home Inspector to know exactly what you’re getting into.

Looking at Condos in Downtown Toronto?

If you’re thinking about investing in condos in downtown Toronto, we’d love to help you find the right place for your needs. Our team is devoted to helping people like you find the best home for you and your family. Contact us today, let’s work together to find your next home.

You have dreams to own your own home but can you afford it? The Canada Mortgage and Housing Corporation say your housing cost should be less than 35% of your gross income. You need a down payment and an income to support the mortgage.

Are you trying to work out how to save money for a house? If yes, read on to learn what you can do.

Set Yourself a Goal

If buying a home is a vague hope then you’ll never save enough for a down payment. You may not even be able to pay a mortgage. You have to get serious about this goal.

Goal setting involves being clear about what it is you want to achieve and by when.

Start by deciding how much you can afford to pay each month on a mortgage. Your total housing costs should not exceed 35% of your gross income so the mortgage element will be about 25% of gross earnings. Your current monthly mortgage payment is therefore about a quarter of your gross income.

Check out what this means in terms of a total mortgage amount with a lender and remember the extra expenses you’ll have when purchasing. The term of the mortgage will determine the total amount.

Remember that the longer you have to pay it off, the larger the amount you can borrow. Be aware that the longer the term the more you will be paying in interest over the life of the loan.

Set a goal to raise a 20% down payment. This way you avoid private mortgage insurance. Set a date by which you will have raised the down payment based on how much you intend to save each month.

Cut Your Costs

Examine your expenses. It’s time to be focused on what’s important and stop wasting money on stuff you don’t need.

Do you need that expensive gym membership? Perhaps you can keep-fit more cheaply by running instead. Reduce your restaurant and entertainment bills. Eat at home more and reduce spending on clothes.

Earn More Money

Are there opportunities to earn more money? Could you take on extra shifts at work or even a second job?

Use your skills to teach other people, for a fee. Liquidate your junk by selling it on eBay.

Save More

Decide how much you need to live and set that money aside at the beginning of the month. Thinking that when it’s gone, it’s gone, will help you live within your means.

Put aside the money you have decided to save, at the beginning of the month too so you won’t dip into it. If you get any windfalls or bonuses, add them to your savings and you’ll bring the date you can own your own home nearer.

That’s How to Save Money for a House

That’s how to save money for a house. It will take some resolve but others have done it before you. You can do it too.

Talk about your dream to own a house by contacting us here.

Toronto has 40 million visitors a year who come to enjoy a huge array of attractions. The city has so much to offer whether you’re a visitor or a resident.

There are many places to visit in Toronto. You need a guide to help you discover it. Read on to learn what to do and where to go.

1. Climb the CN Tower

No visit to Toronto is complete without taking in the CN Tower. It’s tall. That’s 533 meters tall.

The glass-floored elevator might be too much but if you can bring yourself to brave it, the view from the Sky Pod is 447 meters up. From there you can see the whole city!

2. Visit the Toronto Islands

A visit to the Toronto Islands is a must. Kids appreciate the amusement park, beaches, and picnicking. For adults, why not try a yoga class or visit the yacht club.

The islands are a short distance from downtown Toronto. The 13 islands on Lake Ontario are varied with gardens, small communities, and lots to do.

3. Retail Therapy

No visit to Toronto would be complete without a shopping trip. Toronto’s Eaton Centre, Yorkville, and Bayview Village are some of the best shopping areas you can find, anywhere.

For shopping with an alternative twist, try Queen Street West. You’ll find the boutiques are independent and funky.

4. Get Cultured

Toronto is truly a city of culture. It has art galleries, theatre, music, and more. The Art Gallery of Toronto has a collection that includes contemporary art, European, and Canadian art.

The theatre district boasts opera, ballet, symphony orchestra, and a diverse menu of stage shows.

5. Visit the Zoo

Over 5,000 animals are waiting to see you at the Toronto Zoo. It’s huge and it’s educational, fun, and spectacular all at once. Don’t miss the African zone.

6. Learn What It Is to Be Well-Heeled

There are so many lovely places to live in Toronto. A tour of the most exclusive addresses in Toronto would have to include Yorkville, Sunnybrook, and Rosedale-Moore Park amongst others. But, if you’d like to know what it is to be well-heeled in Toronto, go no further than the Bata Shoe Museum.

7. Taste the Difference

The Distillery District in Toronto offers the opportunity to get a taste of a different side of Toronto. Try the beer, brewed on-site.

St Lawrence Market has produce for sale and to taste. You can even take a class on cooking the food you buy there. Kensington Market is famed for international standard restaurants if you’d rather have somebody else cook for you.

8. Face-Off

Ice Hockey is a way of life for many Canadians. Toronto has many ice hockey fans and is home to the prestigious Hockey Hall of Fame.

The Hockey Hall of Fame celebrates the achievements of the greats of ice hockey. It’s been doing just that since 1943 when it was launched. Whether you’re a hockey fan or not, the museum has lots to interest and entertain you.

9. Get Back to Nature

If a walk in the park is your idea of heaven, High Park is for you. High Park is Toronto’s largest public park featuring many hiking trails, sports facilities, diverse vegetation, a beautiful lakefront, convenient parking, easy public transit access, a dog park, a zoo, playgrounds for children, a couple of eateries, greenhouses, picnic areas, a bunch of squirrels and various events throughout the year.

So Many Places to Visit in Toronto

The range of attractions says so much about the diversity, culture, and life in Toronto. There are so many places to visit in Toronto.

Talk about living in Toronto by contacting us now.