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Buyers flock to inexpensive new low-rise subdivisions far from employment centres — here's how cities could keep them local.
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It makes me angry because it means I have little control over protecting my clients.
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More condo builders are coming up to speed in catering to this growing demand.
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A growing contingent of Canadian families are opting for the compact condo lifestyle over the white picket fence and the sprawling suburban McMansion.
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I'll admit it, several years ago I had a very poor opinion of the CityPlace neighbourhood in Toronto. Back then, this neighbourhood of tall condo buildings built around Fort York Blvd and Spadina Ave was a huge construction site. It was dirty, the buildings were all under a constant state of repair, and there were no amenities nearby. Then in 2013, when Fort York Blvd opened through Bathurst St, things began to change.
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As an analytical realtor who focuses heavily on market-based statistics, I've started to understand the growing shift towards pre-construction condos. Millennials now pretty much don't have any shot at purchasing a house with the current appreciation in the market, despite the government's efforts to slow things down. Even purchasing condos may be a stretch for some. Getting into pre-construction condos however, is the golden ticket.
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"You know, it is not surprising."
We've all seen news headlines over the last few years describing properties that sell for "$400,000 above asking!" These headlines make it seem like houses are selling for much more money than they ar...
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Before you even move into your new home, it is important to know what you are getting into. Try to find or create a floor plan of the space, and take accurate measurements of the area. This will help you know what you can fit into your place and what you need to rid yourself of. If it doesn't fit or will take up too much room in your new place, there is no need to keep it. It will also give you an idea of how to organize your space before you've even moved in.
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Ah, the "plus den" condo floor plan -- sure, that extra room may look great on paper but using this often tiny, windowless space efficiently can be tricky. And the smaller the space, the bigger the challenge. We caught up with interior designer Candice Olson to get some tips and tricks for making the most of your "plus den."
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According to data from the Toronto Real Estate Board, the average price of a Toronto condo in the fourth quarter of 2016 climbed to $465,403 - a double digit 14 per cent jump that's more synonymous with low-rise family houses than high-rise apartments.
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Housing costs continue to soar in Canada's priciest real estate markets -- in spite of provincial and federal action to slow housing activity in Toronto and Vancouver. This has left many hopeful home buyers priced out of the average detached home market. Even larger condo units are picking up speed in price.
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Toronto has established itself as a hot market for residential condos, but more recently, the office-condo trend has started to make waves through the city, potentially becoming the next big investment opportunity.
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For die-hard urbanites on the hunt for a condo in the heart of Canada's largest metropolis, the old real estate adage location, location, location means getting specific. Really specific. Down to the...
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From foreign buyers gobbling up properties sight unseen to young families trying to raise kids in condo towers, the Canadian housing market is a hot topic of discussion these days. But what do houses really cost these days?
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Currently, the Toronto Islands, Coronation Park, Trinity Bellwoods or Corktown Common are the only large downtown parks, but really not enough for the explosion of condo units and residents who live and work in the downtown core.
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There's no question condominiums are an increasingly popular housing choice for Canadians for a variety of reasons -- lower costs and prime inner city locations chief among them. But this also means condo buyers' demands are changing like never before.
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Either one understands that a people's land is sacred, or one doesn't. If someone wants to make a bundle of profits, no matter how green the project, at least take if off sacred land. The sacred Chaudières site, which has been abused by industry for over a century, is in need of remediation, not redevelopment for private profit.
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Though these are welcome changes to anyone who has endured noisy neighbours, the changes will not result in an immediate noise reduction for all as they are only applicable to new buildings. If you are facing noisy neighbours, there is some relief for existing multi-unit home owners.
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Are micro units, small condos and bachelor suites the way of the future; able to douse our city's precariously overheated housing market in a cool shower of affordable, convenient rental units? It seems the question is still up for debate here in the third least affordable housing market on the globe.
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And Toronto, in particular, was singled out for concern.
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If you rent, you know how important it is to stretch your monthly budget in order to get a place you love. The line between 'wants and needs' must be clearly drawn, and once you have your budget, it's time to make the most of it. RentSeeker... is here to help you stretch that budget with 10 tips to save you money so you can maximize your housing budget and find an apartment you'll be excited to call home.
Recently I have had the pleasure to start working from the comfort of my home and while working in an office environment can be thrilling and stimulating, being able to stay in your pajamas and sweatpants with ketchup stains on them is much more exciting. However, creating a home office space in a small condo is no small task. Here's what the experience has taught me.
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University and college enrolment is booming across Canada, and post-secondary institutions are scrambling to keep up by expanding existing buildings and opening new satellite campuses. The challenge is that the scholastic expansion doesn't necessarily extend to student residences, which creates a need in the rental market -- and thus an opportunity for investors.
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Much like last year's Canada Mortgage and Housing Corp.'s condo survey, which showed that investment condos owned by locals in Toronto and Vancouver are a long-term commitment with the objective of generating rental income, this year condominium investors display stable characteristics over time.
A bidding war is when the seller will list their house at an artificially reduced price, show buyers the house over a period of about a week, and then have an offer date where all interested buyers present their offers. The expectation is that they will sell for well over the asking price, and have multiple buyers bidding against each other.
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I admit that sometimes, as a long-term renter, I do think about what it would be like to own a home. But that doesn't mean that I consider renting a stopover before buying. Renting is its own lifestyle and although currently dominated by millennial city dwellers in Toronto and Vancouver, it is not unique to this generation, nor to their respective cities.
For new developments being proposed in both Vancouver and Calgary, information is typically put forward by the developer and the city to communities. But now, we're seeing community groups releasing their own information to residents. The motive is to try to increase opposition to the project.
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Written by Sonia Bell Some architects go above and beyond to take condominium living to the next level. Due to their unprecedented amenities and their architecturally genius and out-of-the-box designs...
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Canada is known for some of its incredible converted homes, like these converted church lofts (and a couple larger homes) that are just as unique as their infamous partners, but a little more enviable when it comes to real estate.
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If you're planning on buying or renting a condo, here's an important lesson: purchase prices and rents will be higher the closer you are to major transit hubs such as subway stations. Sure, it's convenient to be located adjacent to a subway stop, but it'll cost you. How much? You'd be surprised.
The Liberal Party promised to "undertake a review of escalating home prices in high-priced markets -- like Vancouver and Toronto -- to determine whether speculation is driving up the cost of housing, and survey the policy tools that could keep home ownership within reach for more Canadians." But this may be one of the first promises to fall by the wayside.