OWAIS GHANI's blog

Overview by Ontario.ca

The NRST applies on the purchase or acquisition of an interest in residential property located anywhere in Ontario by individuals who are foreign nationals (individuals who are not Canadian citizens or permanent residents of Canada) or by foreign corporations or taxable trustees. Effective October 25, 2022, the NRST rate is 25%.

The NRST is applied to the value of the consideration for a conveyance. See the Land Transfer Tax page for information about the value of the consideration. For information on calculating the value of the consideration on the purchase of a...

Still Renting Your Home? 4 Facts That Might Change Your Mind

Each year, home renters face the question of whether to renew their lease for another year or determine it is time to buy a home of their own. Over the past couple of years, the US housing market has changed dramatically as home values have soared and interest rates have remained low. So, if you are still renting your home, it might be time to buy instead.

4 Facts About Renting your Home

1. Rents Are Rising Quickly – Higher priced home values drive higher rent costs. While a 30-year fixed home loan will provide steady...

Avoid Short Term Rental Home Mistakes Before You Buy

The short-term rental (STR) market has exploded since the Covid-19 pandemic. As America’s workforce raced home, people realized that they could work from anywhere. This, coupled with the desire to isolate oneself and family from other people during vacations, created a strong demand for STR properties. As the trend boomed, large and small investors jumped into the stream and bought properties to market as short-term rentals.

Owning an STR can be a great investment. In addition to the incremental income, the home appreciates in...

Why Didn’t My House Sell?

There is nothing more frustrating for a seller than to watch houses around them sell like hot cakes while theirs lingers on the market. Finally, when the listing expires, they find themselves asking why? Why didn’t my house sell? In a robust housing market like we’ve had the past few years, the good news is there are some common reasons why a home doesn’t sell. If you find yourself in this position, ask yourself these questions, and then correct them and relist them.

· Did You Stage Your Home? We’re not talking about expensive services that bring in all new...

It’s no secret that most of the country is experiencing a strong seller’s market. With more home buyers than inventory, most sellers have been delighted to sell quickly and often with multiple offers. Yet, some homes are still sitting on the market and these sellers may be wondering why.

Here are 7 reasons why your home listing is not selling:

1. Over confidence–While many homes are being snapped up on day one, this does not mean you can avoid the basics of good marketing, professional photos, Staging and open houses.

2. Overpriced–In a seller’s market, home prices do...

The strong seller’s market has prompted homeowners across the country to consider selling their homes. What if your property is a rental unit with tenants in place? Can you still sell and take advantage of the rising home values? Yes, by understanding the steps and following a few tips, you maximize your profit in this strong market.

The first step in selling your home with tenants in place is to understand your rights and responsibilities. The kind of lease you hold will determine if you can simply give notice to the tenants or if the new owners will buy the home with a lease in place....

Downsizing your home can give you more money to spend, save for retirement or achieve other financial goals. But before making the move to a smaller house, carefully consider the pros and cons.

With "tiny houses" a hot trend, more Canadians are thinking about downsizing their homes. You might be considering downsizing if your children have left the nest, you're close to retirement, you want a lighter ecological footprint or you're just tired of maintaining a big home.

Financial advantages of downsizing your home include lower mortgage and utility costs, while disadvantages may...

Successive interest rate hikesbrought balance back to the Greater Toronto Area real estate market in July, leading to the first monthly price decline the region has seen since January.

According to the latest data from the Toronto Regional Real Estate Board (TRREB), the average selling price in the GTA hit $1,118,374 in July, a 5.3% drop from June.

The City of Toronto registered an even greater decline, with the average home price falling $7.4% month over month to $1,066,184. The city’s overall decline was outpaced further still by detached homes, which saw average prices fall 8% on...

While you might have felt perfectly capable of making mortgage payments when you bought your house, sometimes financial situations arise that affect your ability to make regular mortgage payments. This can have a huge negative impact on your credit score and can put your home in danger of being repossessed if you don’t take immediate action. Luckily there are options that can give you time to turn your finances around. Here’s what you should do if you can’t pay your mortgage.

What Happens If I Can’t Pay My Mortgage

Determine the Reason You Can’t Pay

In most cases, people do not...

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TRREB MLS System Sales and Average Price