Real Estate News: The Latest, Top Articles in Ontario Canada

What a Realtor Does For You Many people use the terms “real estate agent” and “Realtor” interchangeably. While the terms are related, they hold a key distinction. Understanding the Role and Requirements of Realtors helps you choose the right professional for your property journey. Every home buyer and seller should know who they are working […]

Understanding Real Estate Agent Fees and Commissions The complexity of realtor fees and commissions can feel overwhelming for both first-time buyers and seasoned property investors. However, it is an essential part of the real estate process that we cannot ignore. In this article, we will guide you through the intricate web of these fees and […]

Effective Strategies for High-End Property Sales Selling a high-value home requires a distinct and sophisticated approach. The standard methods used for typical properties are often insufficient for the premium market. A successful transaction depends on a deep understanding of the affluent buyer, impeccable presentation, and a precisely executed plan. Effective luxury property sales and marketing […]

Realtor Selection and Relationship – Creating a Successful Partnership Choosing a realtor is more than a simple decision—it is a strategic maneuver in the journey of real estate. An adept realtor holds the power to simplify the process of buying or selling a home, to ensure you get the best deal possible, and to convert […]

Question: How Do I Manage My Short Term Rental Remotely? Answer: To manage my short term rental remotely start by using smart home technology like keyless entry and noise monitors. Hire a reliable local team for cleaning and maintenance. Automate guest communication with software and ensure you comply with your municipality’s specific bylaws for licensing […]

Question: Do People Really Make Money With Airbnb? Answer: Yes, people really make money with Airbnb. It can be very profitable when treated as a business, not passive income. Success depends on location, managing expenses, and adhering to crucial municipal licensing and tax laws, which significantly affect your bottom line. The Profitability of Short-Term Rentals […]

Question: What Percentage Does Airbnb Take? Answer: Airbnb uses a split-fee model, charging hosts a 3% service fee while guests pay a fee around 14.1% – 16.5%. Some hosts use a host-only model, where the entire 14-16% fee is deducted from the host payout. Airbnb’s Commission Structure Potential hosts often ask what percentage does airbnb […]

Question: How Do I Attract More People to My Airbnb? Answer: To attract more people to my Airbnb, boost bookings with professional photos, a compelling description, and smart pricing. Earn stellar reviews by providing exceptional cleanliness and communication. Offering sought-after amenities like fast Wi-Fi and easy self-check-in will make your listing stand out to travellers. […]

Question: What Adds the Most Value to an Airbnb? Answer: What adds the most value to an Airbnb are high-demand amenities and increased guest capacity. Features like a hot tub or sauna, a modern kitchen, or an extra bedroom can dramatically boost your nightly rate and occupancy, providing a significant return on your investment. Maximizing […]

Question: What Are the Pros and Cons of Hosting on Airbnb? Answer: Pros of hosting on Airbnb include high income potential and scheduling flexibility. Cons involve inconsistent revenue, significant management effort, property wear, and navigating complex municipal bylaws and licensing requirements, which vary by city. Exploring the Advantages and Disadvantages of Airbnb Hosting The rise […]

Question: How Do You Calculate ROI on Short Term Rental Property? Answer: You calculate ROI on short-term rental property by dividing your annual net profit by the total cash invested. Net profit is the gross rental income after subtracting all expenses: mortgage, taxes, utilities, cleaning, and booking platform fees. Total cash invested includes your down […]

Evaluating and Operating Vacation Rental Investments Investing in real estate offers many paths to building wealth. One popular strategy involves purchasing and running short-term and vacation rentals. This venture attracts investors who see the potential for high returns and the appeal of owning a property in a desirable location. The model seems simple: buy a […]

Question: What Are A Seller’s Obligations In A Real Estate Transaction? Answer: In a real estate transaction, sellers have several obligations, including providing accurate information about the property, disclosing known defects, maintaining the property until the closing date, and adhering to the terms of the sales contract. They must also allow inspections and fulfill any […]

Question: What Does 24-hour Irrevocable Offer Mean? Answer: A 24-hour irrevocable offer in real estate means that the seller agrees to keep the offer open for acceptance by the seller for a period of 24 hours. During this time, the buyer cannot withdraw the offer, providing the seller with assurance that the offer will be […]

Question: What Happens if the Buyer Does Not Remove Contingencies? Answer: If the buyer does not remove contingencies within the agreed-upon timeframe, the seller typically has the right to cancel the contract, and any earnest money or deposits provided by the buyer may be forfeited. What Happens if the Buyer Does Not Remove Contingencies? Missed […]

Question: What Contingency is Most Risky in Real Estate? Answer: In real estate, one of the riskiest contingencies is the financing contingency, where the sale depends on the buyer securing a mortgage. If the buyer fails to obtain financing within the specified time frame, the deal may fall through, causing inconvenience and potential financial loss […]

Question: Do I Pay Tax If I Sell My House And Don’t Buy Another? Answer: In Canada, if you sell your primary residence and don’t buy another, you generally won’t have to pay tax on any capital gains from the sale, as the primary residence is exempt from capital gains tax. However, if the property […]

Question: Who Pays Closing Costs in Canada? Answer: In Canada, closing costs are typically paid by the buyer and may include expenses such as legal fees, land transfer taxes, title insurance, home inspection fees, and adjustments for property taxes and utilities. Who Pays Closing Costs in Canada? Closing Costs in Canada The home buying process […]

Question: What are the Taxes on Buying Property in Canada? Answer: When buying property in Canada, you may encounter various taxes such as the Goods and Services Tax (GST) or Harmonized Sales Tax (HST) on new construction, land transfer tax (in provinces like Ontario), and property taxes. What are the Taxes on Buying Property in […]

Question: Do I Need a Lawyer to Sell My House in Canada? Answer: While it’s not a legal requirement in Canada to have a lawyer to sell your house, having one can provide valuable legal guidance, ensure all documents are in order, and facilitate a smooth and legally sound transaction. Do I Need a Lawyer […]

Question: What Role Does a Lawyer Play in Buying a House? Answer: A lawyer plays a crucial role in the home buying process by reviewing legal documents, conducting title searches, ensuring the property’s legal status, facilitating the transfer of ownership, and overseeing the closing process to ensure all legal requirements are met. What Role Does […]

Question: Can a Seller Cancel an Accepted Offer? Answer: In certain circumstances, a seller may be able to cancel an accepted offer, but it depends on the terms outlined in the purchase agreement and local real estate laws. Typically, once both parties have signed a legally binding contract, canceling the offer may require mutual agreement […]

Question: Does a Home Seller Have to Accept a Full Price Offer in Canada? Answer: No, a home seller is not obligated to accept a full price offer in Canada. Sellers have the right to negotiate and may choose to accept, reject, or counter any offer they receive. Does a Home Seller Have to Accept […]

Question: When Should You Make a Lower Offer on a House? Answer: You may consider making a lower offer on a house if the property has been on the market for a long time, if there are significant flaws or needed repairs, or if similar properties in the area have sold for less. When Should […]

Question: Can You Ask a Seller Why They are Selling? Answer: Yes, you can ask why they are selling their property. However, they are not obligated to provide an answer, and some may prefer to keep their reasons private. Can You Ask a Seller Why They’re Selling? The Motivation Behind the Move A house isn’t […]

Question: What Happens After You View a Property? Answer: After viewing a property, you may decide to make an offer if you’re interested. Your real estate agent can guide you through the process of negotiating with the seller, conducting inspections, and finalizing the purchase agreement. What Happens After You View a Property? Stepping Out of […]

Question: When Should I Switch to a Fixed-Rate Mortgage? Answer: You may consider switching to a fixed-rate mortgage when interest rates are low and you want to lock in a stable rate for the long term. This can protect you from potential rate increases in the future, providing stability and predictability in your mortgage payments. […]

Question: What is the Biggest Factor in Getting a Mortgage? Answer: The biggest factor in getting a mortgage is your creditworthiness, including your credit score, income, employment history, debt-to-income ratio, and the amount of your down payment. Lenders assess these factors to determine your ability to repay the loan and the terms of your mortgage. […]

Question: Is it Better to Go for a 2-year or 5-Year Fixed Rate Mortgage? Answer: Choosing between a 2-year and 5-year fixed-rate mortgage depends on factors such as your financial situation, interest rate outlook, and risk tolerance. A 2-year mortgage offers lower initial rates but requires refinancing sooner, while a 5-year mortgage provides stability but […]

Question: What is the Downside of a Variable Rate? Answer: The downside of a variable rate mortgage is that the interest rate can fluctuate with market conditions, leading to unpredictable monthly payments and potentially higher costs if interest rates rise significantly over time. What is the Downside of a Variable Rate? The Allure and Uncertainty […]

Question: What are the Disadvantages of a Fixed-Rate? Answer: The disadvantages of a fixed-rate mortgage include potentially higher initial interest rates compared to variable rates, limited flexibility if rates decline, and potential penalties for breaking the mortgage term early. What are the Disadvantages of a Fixed-Rate? Understanding the Drawbacks Fixed-rate mortgages offer the stability of […]

Question: What is the Lowest Down Payment for a House in Canada? Answer: In Canada, the lowest down payment for a house typically starts at 5% of the purchase price for qualified buyers, although some programs may offer options for down payments as low as 3% or even 0% for certain eligible borrowers. Down Payment […]