It was promised in the last election in Toronto that the Toronto Land Transfer tax would be abolished. It seems as though that was just an empty promise to get Realtors & Residents to vote the current mayor into office. I’m not gonna go into boring statistics about the detriment to the city that the…
A major obstacle when buying a home that most people don’t consider is the land transfer tax the province charges when a property transfers title. Sometimes it can mean the difference in buying a property. In the case of Toronto, they charge a secondary tax. Now Mississauga wants to play in the big boys league….They…
You just bought a house, the inspection goes well, you are approved for the mortgage. Months go by, you buy some new furniture, your old house closes and you go to pick up the keys from your lawyer for your new house on the day of closing. On your balance statement there is a fee…
Step 8: Prepare your finances Before the offers start rolling in, you should prepare for the massive amounts of money that will pass through your hands. A lot of the money will probably be going to your mortgage If you own your home free-and-clear, congratulations! For the rest of us, there are a lot of…
The purchase price of your home is only one of the costs you’ll encounter. Here are other possible costs you need to consider: Mortgage loan insurance: If you are putting less than 20 per cent of the house value down, you’re going to need mortgage loan insurance. Depending on the lender, the premium can be…
Ernie Arrizza 