Is renting condos legal? As the real estate market worsens, the legal right - of being able to 'rent' out condominiums - is becoming an even more important issue.
The unwillingness of Banks to lend money on condos is causing prices to fall more than homes. Read more to find out why this is benefiting savvy buyers and investors.
A lot of individuals looking to rent a condo in Toronto or to rent their own condo for investment purposes overlook the benefits of using an experienced real estate sales representative to facilitate the transaction.
Also, you can get a lot of information from perusing the minutes of the last 3 or so meetings of the board. Check to see if there are a lot of pet complaints and what was done about them. Do the solutions seem to be solving the problems? Do people generally seem to have a good attitude towards pets?
You might be considering shopping for a foreclosed property at a distressed sale price in a resort such as Puerto Vallarta, Mexico. If so, you might as well forget it; you'll not see a foreclosure sign in Mexico!
One of the things that people overlook when purchasing a condo in Toronto is whether their beloved pet will be allowed to accompany them to their new home. With more and more people choosing the condo lifestyle in Toronto, it can sometimes be very difficult to find a building that will accommodate your pet which in turn makes your condo search a more challenging and more frustrating task.
Most condos have some kind of pet rules, limiting both the size, number and species of your pets. For instance, a condo may only allow dogs under 25 or 35 pounds and limit the number to 1 per person. Others may ban certain breeds of dogs, such as American pit bull terriers and rottweilers.
Maybe you want to sell your condo or loft, but just have not been able to find a buyer. Or maybe you want to continue owning it and build some equity, but you have a desire to live elsewhere. Whatever the reason for doing it, condos and lofts can make good rental properties. But there are some things to keep in mind as you consider whether you want to be a landlord.
It’s no secret that 2007 (and the beginning of 2008) was a red hot year for the Toronto condo market with week long line ups to purchase preconstruction condo units and record breaking sales numbers. With the current state of the economy south of the border, it’s inevitable that the Canadian economy will be affected by the US’s slowdown. Many people are wondering what this means for the Toronto Condo market and are we in a condo bubble ready to pop?
Request a copy of the certificate of insurance which summarizes the association's policy. Check to see that replacement costs are in line with today's prices. Next, look for a building-ordinance clause. If it's included in the policy, it means the insurance company will pay for any costs required for updating the building code in the case of rebuilding. Finally, understand what the insurance company covers and what you are responsible for.
Everybody knows that parking in the City of Toronto has proven to be more of a challenge over the last couple of years. With the population of Toronto increasing dramatically each year, parking is simply becoming more of a concern for both commuters and condominium buyers. In a city where parking lots are being purchased everyday by real estate developers to build yet another Toronto condo, acquiring a parking space and purchasing in a condo building with ample visitor parking is becoming more and more valuable.
Banks use credit scores and reports to help them make a decision about you. They will look at your credit score itself, and at your credit report. They want to see how much debt you have, how many credit cards you have open, how many loans you have, and how well you repay your debts. In short, they want to know how much risk they would take on by lending you money. The following steps will help improve your credit and – in the lender's eye – reduce the risk associated with lending you money to buy a condo or loft.
When buying a new construction condo in Ontario, the Tarion Warranty Corporation provides protection to buyers under the New Home Warranty Program. Membership of this program is mandatory for new construction builders by offering protection to buyers of new construction projects. Such protection includes: deposits, defects in the workmanship and materials and protection issues involving delayed closings and occupancies.
If you live in a condo, or even looked into living in one, you probably have seen the letters HOA. They stand for Homeowners Association. Before purchasing a condo, it's important to know what your monthly HOA payment covers and what it doesn't cover.
For more than fifteen years, the Internet has been transforming the real estate industry. The number and variety of real estate web sites has proliferated and is increasing even to this day. Clearly the Internet encourages sales of homes to foreign buyers, but it also connects buyers and sellers who could literally live next door.
There are several advantages to owning commercial condominiums vs. stand alone buildings. Commercial condos offer more flexibility, are less expensive, and can reduce burden from individual owners.
When it comes to purchasing a condo unit, many of my buyer clients ask me which is the better choice, buying a resale or pre-construction unit. The difference between the two being that one already physically exists and the other one does not. Deciding which route to take depends on a few factors such as timeline, motive and capital.
Always have an inspection done on the building that you consider buying from. There are some conversions that look okay on a cursory inspection, but that a qualified inspector can find problems with. Owners who want to make money off of their ex-motel aren't going to clue you in on the lack of washrooms for the space you're buying or the fact that the paint covers cracks in the plaster. A good inspector can alert you to things that can be major potential problems.
A prestige multi tower condo development in Fort Myers, Lee County, Miami is almost on its knees as tried and trusted investment magnets lose their power.
Craigslist is an effective and surprisingly safe marketing tool for real estate users. However, the anonymity of the Internet occasionally encourages wrong behavior. This article offers some experience-based cautions.
One of the greatest things about owning a vacation or retirement home on the beach is enjoying the wildlife that pass by. Humpback whales arrive at Bahia de Banderas, regarded as one of the largest and most beautiful bays in the world, to escape the cold winter weather.
Condos have become a popular form of real estate ownership in Toronto especially among first time home buyers. Not only do condos tend to be the most affordable option for home ownership in central Toronto but they also offer a low maintenance lifestyle.
There are many good reasons to buy a home, and there are many good reasons to rent. This article discusses the mortgage-interest deduction program with special focus on the entry-level buyer.
Toronto is going green. I’m sure you’ve noticed a large majority of Grocery stores in Toronto are now encouraging shoppers to bring their own recyclable grocery bags. As well, Torontonians took part in the earth hour which demonstrates that we are becoming more aware of our environment. Did you ever think about living your every day life more green? Well now you can as Toronto has jumped on green band wagon with over 2,000 green condos units.
Energy costs are becoming more and more of a deciding factor that home buyers weigh in on when choosing to buy a particular home or condo over another. You can get a quick snapshot of the current owner's energy use and monthly expense by contacting the local utility companies.
The Holland America shipping company revealed that in three years, with the construction of a Cruise Ship Home Port, Puerto Penasco will be taking another step to become a world-class tourist destination.
Low-priced bank owned homes for sale in Lee County, Florida have been attracting out-of-state investors. The median for single-family homes fell by 10 percent to $88,000 while the median for condo units fell by 7 percent to $130,900.
Buying a condo essentially means buying into a low maintenance way of living. Condos can be an affordable and stress free way to live as each month the owner pays a maintenance fee to cover certain common costs of the building. While having a low maintenance fee is ideal there are other factors to consider such as what is included in the monthly maintenance fee and the financial health of the buildings condo corporation.
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