Prohibition on the Purchase of Residential Property by Non-Canadians Act

Buying | 01-6-23

Beginning January 1^st, 2023, the Act will ban all foreign buyers from buying residential property in Canada in efforts to make housing more affordable for Canadians.

The Canadian government recently implemented a new prohibition on the purchase of residential properties by non-Canadians. This measure is intended to address concerns about foreign investment driving up housing prices and reducing housing affordability for Canadian citizens and permanent residents.

Under the new rules, non-Canadians will no longer be able to purchase residential properties in certain designated areas, unless they meet certain exceptions. These exceptions include:

Non-Canadians who are working in Canada on a valid work permit
International students studying in Canada
Refugees
Spouses or common-law partners of Canadians

It is worth noting that the prohibition does not apply to the purchase of commercial properties or to the rental of residential properties with over 3 units.

The new prohibition has been met with mixed reactions. Some have praised it as a necessary measure to address housing affordability issues, while others have criticized it as being unfairly targeted at foreign buyers and potentially damaging to the housing market.

Also set out in the Act, a non-Canadian that contravenes the prohibition, or any person or entity that knowingly assists a non-Canadian in contravening the prohibition, is guilty of an offence and liable on summary conviction to a fine of up to $10,000.00.

In short, the Superior Court of the Province in which the contravention relates, may order the property to be sold. This is at the discretion of the applicable court.

Without delaying the Ban, the Canadian Gazette states that further details regarding the Act are yet to still be laid out. Anyone working in these fields must make reasonable efforts to “know their client” and to identify any parties that do not qualify to purchase under this ban.

Overall, the new prohibition on the purchase of residential properties by non-Canadians is a significant policy change that is intended to address concerns about foreign investment in the housing market. It remains to be seen how it will impact the housing market and the broader economy in the coming months and years.

You can read the full report HERE.

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Thinking of selling in this market? 5 Easy tips to get you sold fast and for top dollar

Homeowners | 12-9-22

In this market we are seeing that buyers are not settling for just anything and that they are really wanting a move in ready, turnkey home. The buyer in this market has more options and more time to buy. Putting your home on the Market at this time of year can have its benefits though, as the pool of buyers is smaller but generally quite serious and ready to purchase.

Check out these 5 Easy SELLING Tips!

1: Clean, Repair and Replace

Buyers have an emotional response immediately upon walking through the door. It is an absolute must that the home is squeaky clean and smelling good. Not just floors and windows need a good cleaning but remember to do wall switches, light fixtures, bathrooms, all faucets and sinks.

Take a walk from room to room and make a to-do list of any minor repairs and painting necessary. Consider replacing any non-functioning appliances, burnt out bulbs, and any minor damages throughout the entire house.

Purge or Pack It Up!

Yes everything! A buyer needs to be able to walk into a neutral space and imagine themselves and their families living there.

Set piles to Donate, Sell and Pack up. Any toys, personal Items, seasonal clothes etc. should all be packed up and out of the property. De-clutter each and every room and don’t neglect the closets and the basement! This is a very important step in the selling process.

Paint and Light Fixtures

If you do not have the budget for a full renovation, give these tips a try.

Fresh Paint is cheap and cheerful! Painting cleans and refreshes the room and can even drastically open up the space. Choose a light neutral pallet.

Consider replacing a few light fixtures! Light fixtures often pull the entire look of a room together. They can add a modern or new feel to a tired space. Ensure you choose matching fixtures and that they match the rest of the existing space.

Curb Appeal

Does your front door need some touch ups? Make it feel new. After-all, it’s the first thing the buyers will come across. It’s a good idea to have a maintained lawn both in front and back. Adding fresh mulch or stones around trees and bushes can really bring the yard to next level. Think about adding lighting to your outdoor spaces. Lighting creates a comfortable and inviting space. And finally, invest in seasonal plants or planters at the front door. Planters are great because you can add your own flare to them with colour!

You’ve got to stage your home!

Staging completely maximizes the space and really showcases a home in it’s very best light. The stager may work with your existing furniture and they may bring in new pieces too. The end result is a whole home that flows and is completely cohesive.

Remember, staging makes the very best attributes of your home shine! With staging, the space is the perfect setting for the Buyer to see themselves living there and what they will do once they move in. Staging can evoke a mood, tone and can completely open up a space.

Well there you have it! My 5 super easy tips to sell in this Market, fast and for top dollar. Call me today if you’ve been considering selling. We can discuss if this is the right time for you to sell your home and I will show you how I provide the highest service level possible.

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Greater Toronto Market Outlook for 2023: What Can We Expect?

Buying | 11-29-22

Currently market conditions in the GTA are balanced and according to a new report released by RE/MAX, they anticipate the 2023 market to remain much the same. Earlier in November RBC Economics also released a report questioning if Canada’s housing market may be entering the end of its cyclical downturn. But don’t expect the market to heat up again so quickly. Read the full report here.

When surveyed, Independent Canadian RE/MAX Broker/Owners and their affiliates all across Canada expected the 2023 Market to be much of the same. Many markets to be in balanced or buyers markets.

We saw a steep drop in consumer confidence this year. Key factors include rising interest rates, possible job loss and lack of affordability that will weaken buyer demand and keep the market quiet for some time.

Benefits for Buyers in 2023

Buyers will have more options in their purchases. They will have less competition and bidding wars. Buyers will enjoy reduced purchase prices.

Benefits for Sellers in 2023

Many sellers currently wishing to move laterally or up in their homes can do so in the same market with less competition. They have an advantage of moving up or possibly re-locating outside of the City.

For more information on current market forecasts click here to contact us. You can read the full RBC report here.

Buyers Market Market Forecast

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Mortgage Talk: Fixed or Variable

With market uncertainty and the unknown end to interest rate hikes, it’s no wonder the long debated Fixed Vs. Variable is making headlines.

I myself locked in for a five year fixed mortgage back in 2019 however, historically, variable has always been the better savings. According to Mortgage Professionals Canada, over 75% of borrowers opt for the Fixed.

Fixed Vs. Variable:

Fixed Rate:

When you opt for a Fixed rate on your mortgage, you are essentially locking your payment amount and terms of the loan for the set amount of time. One, three, five, seven and ten year terms are offered by many top lenders. When you lock into a fixed rate, your payments will remain set over that period of time and a set amount will be allotted to the principle and interest. So when the rates go up as quickly as they did this year, you are unaffected and have that security.

Variable Rate:

When you opt for a Variable rate, you are still locking in a specified term however the payment amounts can change as can the amount going to the principle of the mortgage can also change. So as rates increase, less amount will go into your principle and when rates decrease, more money is paid into your principle. The principle is the amount that is being borrowed.

Triggering Interest Rate:

Generally your payments with Fixed or Variable will remain at the set amount. If however, your regular payment is not enough to cover the interest portion of your mortgage, your mortgage payment will automatically increase to cover the accrued interest.

Fixed Vs Variable Mortgages

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RE/MAX Breaks Down Current Real Estate Market:

Buying | 09-27-22

As per the September 21st, 22 article released by RE/MAX Canada, the Canadian real estate market is in a state of flux right now.

The Canadian real estate market is in a state of flux right now.

It is hard to fathom that Canada’s housing sector recorded unprecedented gains a year ago – from tremendous sales activity to enormous price growth – and now the industry is in the middle of a sharp correction. Every market analyst and financial institution has offered a forecast of how much more the country’s real estate market could fall. The Royal Bank of Canada (RBC) projects a 25-per-cent decline by the end of next year, while Desjardins economists anticipate a 20-per-cent drop over the next year.

Whatever the case may be, the Canadian real estate market – be it major urban centres or cottage country – is going through an exceptional transition. Nobody knows when the trend will turn and when the next expansionist cycle will begin.

So, what is going on exactly? Here is a list summarizing what you need to know about today’s market.

Read RE/MAX Canada’s Full Article HERE:

Read the Full RBC Monthly Housing Market Update HERE:

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Many of you are familiar with the Coastal style which is beachy, light and airy. It playfully uses shells and lighter pastel colours within. But with these cooler temps still hanging on, I don’t know about you but I’d like to go Tropical!

What’s in this year is Nature, woods and bringing the outdoors in. What a perfect way to express this style with the use of bold colours and tropical prints along- side deep greens and natural woods. Here’s a few easy tips to accomplish the Tropical look!

1: Greenery

Bring in nature through colour with large tropical deep green plants. The use of these leafy plants in a neutral space offers a wonderful pop of colour.

2: Bold tropical patterns

You can have a lot of fun being creative here. Choose from bright vivid wallpapers with large leaf or hibiscus flowers all over or as an accent wall. Pillows and throws can back up these accent colours and enhance the overall theme.

3: Jute, Rattan and Bamboo

Using nature inspired hues in wood creates a tropical space. Right now Rattan and Bamboo are very popular and you can find them pretty much everywhere. Use jute, rattan or bamboo furniture and even tie in lighting and accessories with them.

4: Pineapples, Palm Trees and Parrots!

Have a little fun in the space with these tropical accents. Try to pick one or two colours and stick with that for your accents. Keeping a neutral room will create the calming tropical effect you desire.

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2022 Design Trends: Creating Wellness in your Home Space

Homeowners | 03-31-22

It’s no surprise that after two years of being locked inside and doing the same thing each day, that the trends this year are refreshing and balanced. This year’s style is nature inspired, connecting us to the outdoors both in colour and texture.

Minimalism is in

Clean rooms that are light and airy offer a calming environment. Remove all clutter and create function first. Many people are now creating rooms for their hobbies or even just a place for their personal space for wellness and relaxation.

Nature Inspired

Natural colours you see in Nature are in. Softer, earthier palettes are in this year allowing for a nature indoors feel. You can incorporate soft natural woods, leafy greens, and natural lighting to bring a visual connection to the outdoors and nature. Terracotta, Olive and Mustard are popular this year, along with the use of marble and pops of black elements. Natural hardwood flooring, herring bone floors, and creams or off white are highly used.

Curves and Arches

Art Deco style has become very popular again with arches and curves in architecture. This year furniture will have many arches and curves as well that will add a softer feel to a space.

Personal Expression

It’s less important to stick with one style than it is to create a space that pleases you and makes you feel good. Mixing decorating styles can still give you a cohesive space. You’re going to see a good mix of design and vintage pieces this year.

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Whether you’re looking to make a move this year or get some badly needed updates done, find out what brings the highest return on your investment.

According to a recent study conducted by RE/MAX Canada, the top 6 worthy updates in your home are your kitchen, bathroom, flooring, paint, finishing the basement and the outdoors/Landscaping.

Kitchens and Bathrooms

Kitchens and bathrooms top the list bringing the highest rate of return on your investment. While kitchen renovations average between 20K and 50K, they recover about 80% of the investment. If you are ready for a kitchen renovation, you may wish to change the current layout. A bright and functional kitchen or bathroom goes a long way, especially to a buyer.

Exterior Upgrades

Replacing Siding:

Not only will you completely transform the look of your home with new siding, you can also enjoy the energy efficiency benefits of doing so as well as reducing home maintenance. New siding offers an excellent rate of return of about 75%.

Roofs and Windows:

Replacing old roof and windows is a plus to a buyer looking for a new home. It also offers the energy efficiency benefits as well as an average of 68% return. Choosing new window styles and colours can also dramatically alter the overall curb appeal of your home.

For more information and advice on your home renovations and/or updates, reach out to me here. Read more on renovations here.

home renovations home trends rate of return Spring home trends worthy investments

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Notable Schools in the Etobicoke West Mall area:

Neighbourhood | 02-11-22

Etobicoke West Mall is a great community with 7 Public Schools, 5 Catholic Schools, 5 parks and a community recreation facility. Here are a few of the area schools.

Broadacres Junior School

45 Crendon Drive Etobicoke M9C 3G6

416-394-7030

From JK to grade 5

Broadacres Junior School offers a grade 4/5 Gifted program as well as an early French Immersion. They also concentrate on promoting health and use the “Fit for Life” program.

Bloordale Middle School

10 Toledo Road Etobicoke M9C 2H3

416-394-7020

Founded in 1960 and is the middle for 4 feeder schools.

Silverthorn Collegiate Institute

291 Mill Road Etobicoke M9C 1Y5

416-394-7010

Highschool Grades 9-12

Nativity of Our Lord Catholic School

35 Saffron Crescent Etobicoke M9C 3T8

416-393-5288

Catholic School from grades PK to 8.

Private Schools:

Queen’s Collegiate

200 Ronson Dr Suite 200, Toronto, ON M9W 5Z9

416-231-9899

Kingsley Primary School

3962 Bloor St W, Toronto, ON M9B 1M3

Founded in 1981

(416) 233-0150

For more information on this area reach out for a free school and area neighbourhood report. You can also see more about Etobicoke West Mall here.

Etobicoke High Schools Etobicoke West Mall Homes Middle Schools Etobicoke Private Etobicoke Schools Public Schools real estate

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Etobicoke West Mall: Your Guide to the Area

Buying | 01-20-22

Etobicoke West Mall is a central Etobicoke neighbourhood and home to Single Family post-war bungalows. Transit is very accessible and it’s an easy area to get around. Ride the TTC to Kipling Station or easily access many surrounding highways. Highway 427, Gardiner, QEW, 401 are all within minutes and it’s among retail, grocery and major shopping areas.

If you are looking to make Etobicoke West Mall area your home here’s what you should know..

Who Lives Here:

Two-Thirds of the area population are married couples and of those 44% have children at home. While Seniors are making up 17% of the population in the area, 68% are employed and 47% have University education. And 49% in the area are English speaking.

Neighbourhood Amenities

The two main parks in the area are Broadacres Park and Dennis Flynn Park. Broadacres Park has a ball diamond, playground and a large open green space. Dennis Flynn Park has three tennis courts, a playground and large open green space.

There are a variety of activities to keep you busy at all times of the year! There’s the West Mall outdoor pool and the West Mall outdoor Ice Rink. These are located next to a ball hockey arena, tennis courts and a playground.

Local Favourites

West Mall has their own Farmers Market! From June to October you can enjoy the fresh produce brought by local vendors at the Etobicoke Civic Centre Farmers Market.

A great Historical place to visit is the charming Victorian homestead of James Shaver Woodsworth. Also known as the Applewood Shaver House. Named after the member of Parliament and social reformer James Shaver Woodsworth. Built in 1850, this charming Victorian shows off a piece of Canadian architecture from the time. After being saved from demolition in 1980, it was restored and it is now a community gem.

The Applewood Shaver House is a self-sustaining Historical site and is run by a Not-For-Profit organization. You can get involved and volunteer and with a small annual donation, you can even become a member! The Applewood Shaver House is a popular destination for Weddings, Parties, and functions.

Etobicoke West Mall Real Estate

With little turnover in the housing market, sales in the area make it a little harder to get into the community. Many young families are moving into the area. What makes this area so enticing to live in are the large property sizes and strong community. This allows for growing families to grow. You can see much gentrification happening in the area and that makes it a very desired location.

For more local area information check out our West Toronto Living page and our Etobicoke Community Guide!

School Report Form

Community Guide Farmers markets For Sale in West Mall Living in Etobicoke Post-War Bungalows

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Beginning January 1st, 2023, the Act will ban all foreign buyers from buying residential property in Canada in efforts to make housing more affordable for Canadians.

Non-Canadians who are working in Canada on a valid work permit

International students studying in Canada

Refugees

Spouses or common-law partners of Canadians

Related Posts

Check out these 5 Easy SELLING Tips!

1: Clean, Repair and Replace

Purge or Pack It Up!

Paint and Light Fixtures

Curb Appeal

You’ve got to stage your home!

Well there you have it! My 5 super easy tips to sell in this Market, fast and for top dollar. Call me today if you’ve been considering selling. We can discuss if this is the right time for you to sell your home and I will show you how I provide the highest service level possible.

Related Posts

When surveyed, Independent Canadian RE/MAX Broker/Owners and their affiliates all across Canada expected the 2023 Market to be much of the same. Many markets to be in balanced or buyers markets.

We saw a steep drop in consumer confidence this year. Key factors include rising interest rates, possible job loss and lack of affordability that will weaken buyer demand and keep the market quiet for some time.

Benefits for Buyers in 2023

Buyers will have more options in their purchases. They will have less competition and bidding wars. Buyers will enjoy reduced purchase prices.

Benefits for Sellers in 2023

Many sellers currently wishing to move laterally or up in their homes can do so in the same market with less competition. They have an advantage of moving up or possibly re-locating outside of the City.

Related Posts

Mortgage Talk: Fixed or Variable

Fixed Vs. Variable:

Fixed Rate:

Variable Rate:

Triggering Interest Rate:

Fixed Vs Variable Mortgages

Related Posts

Related Posts

Many of you are familiar with the Coastal style which is beachy, light and airy. It playfully uses shells and lighter pastel colours within. But with these cooler temps still hanging on, I don’t know about you but I’d like to go Tropical!

1: Greenery

2: Bold tropical patterns

3: Jute, Rattan and Bamboo

4: Pineapples, Palm Trees and Parrots!

Related Posts

It’s no surprise that after two years of being locked inside and doing the same thing each day, that the trends this year are refreshing and balanced. This year’s style is nature inspired, connecting us to the outdoors both in colour and texture.

Minimalism is in

Nature Inspired

Curves and Arches

Personal Expression

Related Posts

Whether you’re looking to make a move this year or get some badly needed updates done, find out what brings the highest return on your investment.

Kitchens and Bathrooms

Exterior Upgrades

Replacing Siding:

Roofs and Windows:

Related Posts

Etobicoke West Mall is a great community with 7 Public Schools, 5 Catholic Schools, 5 parks and a community recreation facility. Here are a few of the area schools.

Private Schools:

Related Posts

If you are looking to make Etobicoke West Mall area your home here’s what you should know..

Who Lives Here:

Neighbourhood Amenities

Local Favourites

Etobicoke West Mall Real Estate

For more local area information check out our West Toronto Living page and our Etobicoke Community Guide!

School Report Form

Related Posts

Beginning January 1^st, 2023, the Act will ban all foreign buyers from buying residential property in Canada in efforts to make housing more affordable for Canadians.