Monday, October 21, 2024 / by Evelyn Lopes
If you're preparing to buy a home, you may believe you've accounted for everything in your budget. But have you factored in all the fees associated with closing?
In a recent survey, many Canadian homebuyers reported being caught off guard by unexpected closing costs. Let’s break down these fees so your closing day goes as smoothly as possible.
1. First let's talk about High Ratio Mortgage Fees
For many homebuyers, High Ratio Mortgage HST on fees is a big surprise.
The actual High Ratio Insurance premium which is payable on mortgages that have less than 20% as downpayment equity, are required to insure the mortgage on behalf of the lender. The buyer pays that insurance premium which is added to the overall loan amount, however the HST tax on the insurance premium is due up front and may home buyers are unaware of this cost- it's a surprise.
Always ask your lender about the cost for the mortgage insurance premium, which will be dependent on the amount financed, but d ...
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Thursday, October 3, 2024 / by Evelyn Lopes
GTA Home Sales on the Rise: What You Need to Know
The Greater Toronto Area real estate market is heating up, and now could be the perfect time to make your move! ??
In September, home sales surged by 8.5% compared to last year, with nearly 5,000 homes sold. Not only that, but over 18,000 new listings hit the market, giving buyers more options and better negotiating power. ??
With interest rates dropping and new mortgage rules making it easier to secure financing, especially for first-time buyers, the opportunity to buy is better than ever. Whether you’re considering a condo, townhouse, or your dream family home, these favorable conditions are making homeownership more affordable.
One of the biggest updates? The average home price in the GTA has dipped slightly—just 1% down from last year. This means buyers can find great deals, particularly in more affordable housing options like condos and townhouses. ??
Curious about the full market picture? Check out the interactive ...
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real estate, evelyn lopes, evelyn lopes realty team, caledon real estate, brampton real estate, orangeville real estate, halton hills real estate, erin real estate, guelph real estate, gta market watch, real estate matket update, community market watch, shelburne real estate
Tuesday, September 3, 2024 / by Evelyn Lopes
A recent survey found that 25% of Canadian homeowners have a renovation project planned in the coming year.1 If you’re among them, you know that embarking on home improvements can be both exciting and daunting. According to home services platform HomeStars, the national median renovation budget is around $12,000, so you're probably investing a significant amount—and you'll want to ensure your project’s success.2
One of the most critical decisions you'll make is choosing the right contractor to bring your vision to life. However, many homeowners fall into common pitfalls during this process, leading to stress, financial strain, and subpar results.
In this guide, we'll explore seven mistakes to avoid when hiring a contractor to ensure your project runs smoothly from start to finish.
1. SKIPPING THE RESEARCH PHASE
A common mistake homeowners make is rushing into hiring a contractor without proper research. But to ensure the m ...
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real estate, evelyn lopes, evelyn lopes realty team, caledon real estate, contractors, 7 mistakes to avoid when choosing a contractor, home improvement
Wednesday, August 21, 2024 / by Evelyn Lopes
Discover the Best of Caledon Before Summer Ends: A Local’s Guide
As the days grow shorter and the warm breezes of summer start to cool, it’s tempting to think that the best of the season has passed. But here in Caledon, there’s still so much to enjoy before summer officially ends. Whether you’re a long-time resident or just visiting, this beautiful region offers a wealth of activities that capture the essence of summer. From outdoor adventures to culinary delights, Caledon has something for everyone. So, before you pack away your summer gear, let’s explore some of the must-do experiences that will help you make the most of these last golden days.
1. Marvel at the Cheltenham Badlands
One of the most unique and awe-inspiring spots in Caledon is the Cheltenham Badlands. These striking red rock formations, sculpted over millions of years, offer a geological wonder that’s truly unparalleled in Ontario. Whether you’re a nature enthusiast, a ph ...
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Tuesday, August 6, 2024 / by Evelyn Lopes
The Toronto Regional Real Estate Board has just released its July Market watch Report.
Here are some highlights from the report and more importantly, how they effect you. Whether you're looking to buy or sell, this report offers valuable insights to help you navigate the current real estate landscape.
Keep in mind Real estate is local.
So don’t forget to check out this month’s market watch report below, to find out what is happening in your neck of the woods. I have compiled specific data for communities.
And if you Want to learn more, …such as how prices are doing in your specific neighbourhood, for your specific housing type and price point? If you are Wondering what things, you can do to increase the value of your home as well as what upgrades to avoid. If you want to know exactly how much money you will have in your pocket after expenses…
Reach out for a complimentary discovery call!
Key Highlights from the Report
For Sellers:
Increased Competiti ...
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