Why to invest in Grimsby in Ontario, Canada?
Canada's real estate market is full of opportunities for those who are clear about their investments, know the Canadian real estate market and know when, why and where to invest. It also presents a unique opportunity to make consistent income through long-term appreciation, rental income, and property value growth. But it's not that easy also, because the real estate market is continuously changing, particularly in Ontario cities, it's important to carefully research, the current trends and demand.
So, today we will make it easy for you to invest in Grimsby in Ontario, Canada and will find out why to invest in Grimsby in Ontario, Canada? So, let's dive in!
Grimsby-a town in the mid of magnificence
Grimsby, Ontario is a small town with big heart, and its beauty is enough to attract the visitors and the people living here. The town is between the sparkling waters of Lake Ontario and the glorious Niagara Escarpment, an UNESCO World Biosphere Reserve. The majestic Escarpment provides a beautifully unique and diverse eco-system, with its rich forests, which are home to many species of plants and animals.
One of the best ways to feel the beauty of Grimsby is by taking a climb on the Bruce Trail, that offers breathtaking views of the lake and the place surrounding it. This town also have a few parks and conservation areas, like, the Grimsby Beach Park, that offer a variety of recreational activities like swimming, fishing, and picnicking, that will never ever let you get bored.
Grimsby- a growing commercial hub
Grimsby, Ontario is a town that is rapidly becoming an ideal spot for business and retail investment. Situated among Hamilton and St. Catherines, this town is surrounded by natural beauty and offers simple easy access to big cities and their amenities. Also the town's abundance of craftsmanship, history and culture, as well as its growing populace, have drawn attention of many businesses to the area. More that sixty-five businesses are thriving in the prompt region, providing ideal business space and a consistent stockpile of customers. Tourists and customers are attracted by the town's beauty, warm heritage and convenience.
Not only this, but Grimsby also provides the local businesses access to a talented and educated labor pool, making it simple for them to hire the best people. The average household income is also estimated to be around $92,038 because to the region's expanding economy, which make makes it easy for the people to live comfortable life.
Grimsby- from transit convenience to top-notch educational institutions
When it comes to the transportation, Grimsby offers easy access to highways like the QEW and the 403, making it a perfect location for both the people living here and the businesses. The town also has a GO Travel station, which provides people with easy access to the Greater Toronto Area. Public transportation within the town is additionally advanced, making it simple for people to get around.
Grimsby is additionally home to various fantastic schools, from elementary to secondary school like West Niagara Secondary School, Central French Immersion Public School and Grand Ave. Public School, providing a good and quality education to the children of the community.
Grimsby - among Top-10 Cities for Real Estate Investment in Ontario
The Real Estate Investment Network (REIN) in 2018 released a report that recognized Grimsby as one of the top-10 spots in Ontario to invest in real estate. The report, which considered 36 financial and market factors, ranked Grimsby and St. Catharines as 10th overall on the list of communities with potential for housing market strength over the next five years.
The report says that the Grimsby is in a recovery mode, opening opportunities for buying and holding real estate and fixing and flipping.
Why to invest in Grimsby in Ontario, Canada?
Investing in Grimsby, Ontario, Canada can be a savvy move for your future because of different reasons. One of the main reasons is the potential for appreciation in property value. Grimsby is a growing community with a solid economy, which can prompt an increase in property value over the long run. And imagine you buy a property in Grimsby, you might see a good profit from your investment in the long-term.
Furthermore, Grimsby, Ontario, Canada presents an extraordinary chance for real estate investment. Its regular magnificence, growing business center, convenient transportation, and top-notch educational institutions make it an appealing location for the both the occupants and businesses.
Also, the REIN has identified Grimsby as one of the top-10 spots in Ontario to invest in real estate, further solidifying its potential as a brilliant investment opportunity. So, what are you waiting for? Everything is sorted, the only thing required is well-planned investment strategy and thorough research. After that you can tap into the town's promising opportunities for long-term profit, rental income, and property value growth.
Last Updated:
2023-04-26
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real estate grimsby
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Why Invest in Real Estate in Innisfil in Ontario, Canada ?
Investing in real estate can be a great way to build wealth, and Innisfil, Ontario is a prime destination for those looking to take advantage of the real estate market. Known for its unique combination of affordability, growth potential, and lifestyle amenities, Innisfil is a hidden gem that is rapidly gaining popularity amongst savvy investors.
However, before making any investments, it's important to have a solid understanding of the market and a strategic approach. This guide will take you through the ins and outs of investing in Innisfil, and give you a comprehensive understanding of what makes this city a popular choice for property investors. From population growth to rental potential, this blog covers it all.
Whether you're a seasoned pro or new to the game, this guide will help you make informed decisions and unlock the true potential of real estate in Innisfil.
## Why Invest in Real Estate in Innisfil in Ontario, Canada ?
Innisfil is a picturesque lakeside community situated on the shores of Lake Simcoe, stretching from Big Bay Point in the east to beyond Highway 400 in the west. It is composed of several key communities, including Alcona, Stroud, and Cookstown and is bordered by Barrie to the north and Bradford West Gwillimbury to the south.
Its northern and eastern borders are defined by Kempenfelt Bay and Cook’s Bay, respectively, providing a peaceful atmosphere and ample recreational opportunities that attract tourism to the area.
Innisfil has seen a significant increase in population in recent years. As a result, many investors are starting to take notice of the potential for real estate investments in the area. Here are some of the reasons why real estate investors should consider Innisfil as a potential investment location.
### **Population Growth**
One of the most significant factors driving the demand for housing in Innisfil is population growth. The town's population has been steadily increasing, and this trend is expected to continue. As the population grows, so does the demand for housing, which can lead to increased property values and rental income for investors.
### **Rise of Real Estate in Innisfil**
Real Estate in Innisfil is becoming an increasingly popular choice for both homeowners and investors. The town's population has been steadily increasing in recent years, and this trend is expected to continue. This population growth has led to a strong demand for housing in Innisfil, making it a great option for those looking to invest in the real estate market.
Innisfil's real estate market is also diverse, it offers a variety of housing options, including detached homes, row houses, semi-detached homes, and condos. This diversity in housing options allows investors to choose from a variety of properties to suit their preferences and investment goals.
### **Parks and Recreational Facilities**
Parks and recreational facilities play a significant role in Innisfil's community and are a major draw for both residents and visitors. The town offers a wide range of options for outdoor activities and leisure, catering to different interests and ages.
Park like Centennial Park and Innisfil Beach Park offer a beautiful beachfront on Lake Simcoe, as well as picnic areas, playgrounds, and a splash pad for children. The park is also a great spot for swimming, sunbathing, and other water-based activities.
Innisfil also has several recreational facilities that offer indoor activities. The Innisfil Recreational Complex is one of the most popular, featuring an ice rink, a swimming pool, a gym, and a fitness center. The Stroud Arena is another popular facility, with an ice rink, and a community hall. The area is full of such facilities to make you life cheerful and joyful.
### **Convenient Transportation and Proximity to Toronto**
Innisfil is located just a short drive from Toronto, one of the largest and most vibrant cities in Canada. This proximity to Toronto makes Innisfil an ideal location for those who want to invest in real estate but still have easy access to the amenities and job opportunities of a major city.
Innisfil is also well-connected to the rest of Ontario through its major roadway, Highway 400. This highway is the most important roadway in the Innisfil area, providing the most direct route between Innisfil and Toronto, and connecting Innisfil to Barrie and Northern Ontario. These roads provide important connections within the town.
### **Government Incentives**
The government of Ontario offers several incentives to encourage real estate investment, such as the First-Time Homebuyer's Tax Credit and the Homeowners' Property Tax Credit. These incentives can help offset some of the costs associated with purchasing a property and make it more financially feasible for investors.
## What are the Pros of Investing in Real Estate in Innisfil?
Strong demand for housing: With a growing population and a low vacancy rate, there is a strong demand for housing in Innisfil. This means that rental properties are likely to be in high demand and can generate steady rental income for investors.
**1. Affordable prices**: Compared to other major cities in Ontario, the cost of real estate in Innisfil is relatively affordable. This makes it a great option for first-time investors or those on a budget.
**2. Good location**: Innisfil is situated in a prime location, with easy access to major highways and close proximity to Toronto, making it a great option for those who want to invest in a property that's close to the city but still relatively affordable.
**3. Government incentives**: The government of Ontario offers several incentives to encourage real estate investment, such as the First-Time Homebuyer's Tax Credit and the Homeowners' Property Tax Credit.
## What are the Pros of Investing in Real Estate in Innisfil?
**1. Limited appreciation potential**: While the demand for housing in Innisfil is strong, the town's population and economic growth may not be as robust as larger cities, which means that there may be limited potential for appreciation in property values.
**2. Risk of vacancy**: As with any rental property, there is always the risk of vacancy. This means that investors should be prepared for the possibility of not having a tenant in their property for a period of time.
**3. Maintenance and repair costs**: As a landlord, you are responsible for maintaining and repairing your rental property. These costs can add up over time and can eat into your profits.
10 Best Toronto Suburbs for Families to Live & Grow
**Are you planning to move to a sub-urban area in Ontario, Canada?** Looking towards The Toronto suburbs, its popular areas you can stay with your family and enjoy? **Here we have covered the Best Toronto suburbs for families to live**. May it be renting or buying a home, these family-friendly neighbourhoods should be on your research list.
About Toronto: The Capital City of Ontario
------------------------------------------
Toronto is one of the most sought-after cities in Northern America. It is a city that has attracted thousands of immigrants, investors, and entrepreneurs. It's well-developed with efficient public facilities for its residents. This has made Toronto a prime spot for real estate investments.
Even though investors know that housing is getting expensive, they still rush to purchase properties in the **Toronto suburbs**. They know that owning property there is a long-term investment that can yield money. If they don't purchase a property now, the selling price will rise in the future.
Nonetheless, not all cities in Toronto have expensive housing. Some Toronto cities have lower real estate prices than other cities. They also provide many housing benefits and facilities to homeowners and their families. Therefore, take this opportunity to purchase some affordable properties in the Toronto suburbs.
You also have a lot of [fun activities to do in Toronto](https://getnewhouse.ca/blog/what-are-best-fun-activities-in-toronto-in-ontario-in-canada-for-adults), and that makes it a popular tourist destination as well.
**Best Toronto Suburbs** for Families to Move in
------------------------------------------------
So, here is an exclusive list of some of the **Best Toronto Suburbs** to choose from.
### 1\. Davisville Village/St. Clair:
It's a quiet town that is the go-to place for families to settle down because it's peaceful and affordable. Working-class people are also attracted to this town. Houses in this town are far less expensive than in other towns. The quietness, homeliness, and less population make it an ideal place to raise a family. It has a park and walking areas for families to enjoy a quiet evening walk together.
### 2\. Kensington Market:
It's a multicultural town that's older and well known than other towns in Toronto. It is the most ideal place for families to live in. It has many streets that boast thrift shopping centers, bars, bookshops, cafés, eateries, and playgrounds. All these are also within walking distance from each other. Moreover, they are easily accessible to the residents of the town. It has commercial areas that are close together.
### 3\. Brampton:
This is a rapidly growing town when it comes to urbanization and real estate. It has schools, innovation/research centers, and shopping centers. The city provides different modes of transport to its residents. The town is not as large as other towns in Toronto, but it is still family-friendly. Due to its small size, it is not as noisy as other towns. It is attracting property investors and developers to develop and invest in the town. If you want a quiet, but affordable neighborhood for your family, Brampton is a good choice.
One of the popular destination for [**new immigrants to Canada**](https://getnewhouse.ca/blog/why-is-immigration-good-for-canada/), Brampton ranks high amongst best Toronto suburbs to live and grow.
### 4\. Etobicoke:
This is a family-friendly town for families in Toronto. It's popular among families that have kids due to its friendly environment. It has more facilities than other towns. There are well-equipped schools, shopping centers, eateries, and different transport facilities. The transport facilities make it easy to take your children to school and for you to go to work. Residents from other cities can easily get access to Etobicoke. Real estate in Etobicoke is cheaper and rapidly growing.
### 5\. Oakville:
Houses are cheaper here, and the town is close to major cities, too. [**Oakville in Ontario**](https://getnewhouse.ca/blog/is-oakville-ontario-canada-good-place-to-live/) has a relatively large population, which has increased the need for more houses. Several investors have taken advantage of this to invest in properties. Your family will not be bored in this town because it has several places of attraction like shopping centers, art centers, and beautiful harbors.
### 6\. Markham:
This is one of the **best Toronto suburbs** and can be found on the northern side of Toronto. The town's population is larger than other towns in Toronto. It is an industrial town that houses hundreds of businesses. You can find many I.T firms, corporate organizations, and research firms in this town. It's a **GTA** town because it's close to major cities in Toronto, hence, it's a prime real estate spot. There is public transport available to take residents to cities within thirty to forty minutes. Therefore, it isn't rare to see people have jobs in the city, but have their residential areas in Markham.
### 7\. Pickering:
This suburb is a **GTA** (Geographical Target Area) in Toronto. It's a small suburb that has a growing population and has seen a rise in property developments. There are freeways in the town that the residents can use free of charge. This makes the town attractive to working families. Pickering is not too far from other cities. Houses in this town are more affordable than in other places in Toronto. As far as safety and standard of living is concerned, [Pickering is a good place to live in Ontario, Canada](https://getnewhouse.ca/blog/is-pickering-ontario-good-place-live-safe).
### 8\. Eglinton West:
Housing in this suburb is cheaper than in other areas. The area is good for those with families or children. There are rail stations and other modes of transport in the area. Residents have access to amenities like malls, eateries, recreation centers, healthcare facilities, sports grounds, libraries, and so on. There are also places of attraction you can take your family to. They are; parks, creek valleys, ponds, and rivers.
### 9\. Vaughan:
This town ranks high on the list of the best suburbs for families. It's another prime spot for real estate developers and investors. It's a rapidly growing suburb that is seeing an influx of residents. The town is an urban area that has various amenities for its population. There's a direct subway that connects to major cities. You can also find high-rise offices and corporate organizations in Vaughan. If you'd like your family to live in this town, then buy a property now before the price increases. It'll also be a form of investment for your family in the future.
### 10\. West Queen West:
This town is more known for providing all facilities and amenities to its residents. It's a cool town that has many recreation centers for its residents of all ages. Furthermore, you can find vintage boutiques that cater to vintage fashion lovers. The town has record shops and art centers that entertain residents and visitors.
You may also explore, [Is Burlington Ontario is a good place to live and settle down?](https://getnewhouse.ca/blog/is-burlington-a-good-place-to-live-ontario)
### **Which is** the Best Toronto Suburb to live?
Now that you have discovered these family-friendly suburbs, choose wisely. Find a safe and good **Toronto suburb** to live in and pursue your dreams. Do thorough analysis of the dynamic housing market and then only make a purchase.
Also, don't miss to learn [**7 Reasons to Live in Stoney Creek, Ontario, Canada**](https://getnewhouse.ca/blog/reasons-to-live-in-stoney-creek-ontario-canada/)
Lots of people are leaving big cities for suburbs due to the cheaper real estate and better environments. So, if you delay now, you might miss the chance to purchase an affordable house for your family. Purchasing a house in any Toronto suburbs also doubles as a form of investment for you and your family.
But wait!! Buying a House involves huge investment! [**Renting or Buying a House in Canada**](https://getnewhouse.ca/blog/renting-vs-buying-home-canada-better/) is indeed a big decision. So, be very careful and consider all the pros and cons of staying at a particular place. Renting for a short period at your selected suburb before actually buying a property therein could be a great way to experience the real situation.
So, which is your favorite Toronto suburb and why so? Do share your views.
Top 10 Largest Real Estate Companies in Canada
Are you interested in learning more about the real estate topics? Here we will be highlighting the **Top 10 Largest Real Estate Companies in Canada**. Grab useful information on the best performers in the dynamic real estate world.
Real Estate in Canada
---------------------
Real estate has and will continue to be a great investment especially in an immigration friendly country like Canada. The exciting part about this business is that the risk is very low. To invest in real estate, you will need a credible, knowledgeable and skilled agent. There are several real estate agents in Canada but the fear of not falling into the wrong hands can be a hindrance.
Canada has in store some of the **largest real estate companies**, and their real estate sector has contributed immensely to the economic growth in Canada.
To be a good real estate agent requires you to have good knowledge of the business and also great skills. For these reasons, we have taken enough time to compile a list of the **top real estate companies** in Canada.
Top 10 Real Estate Companies in Canada
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Take your time to read through this interesting list to have more knowledge about the top real estate companies in Canada. And yes, these are not in any sequential order. We just picked the most popular and the largest Canadian real estate companies.
**1\. Onni Group**
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This well-known real estate company has maintained being on the top list of best real estate companies for over five decades. They are greatly known for their unprecedented condo homes and commercial properties. Their development of residence so far is more than 15000 and they own various properties in different parts of North America, places like Vancouver, [**Ontario cities**](https://getnewhouse.ca/blog/category/ontario-cities/), etc. Onni offices are situated in various parts of Canada, Seattle, Toronto, British Columbia, Los Angeles, and other areas.
Their goal is to develop top-notch urban towns in the world coupled with great sustainability and innovative designs. One thing that has made them stand out is their ability to develop principles on green architecture. Also, the materials and equipment used by this company are native and energy-saving respectively.
Their great teams are also worth mentioning as they are well trained and skilled in this field. Some of their record-breaking projects are Gilmore Place, Cambie Gardens, Riva, Fortunate at Fort York, Atria west and lots more.
2\. Westcorp Property Management Inc
------------------------------------
This company has been around for over three decades which has made them more conversant with the needs and tastes of their clients. Their services include commercial, residential, retail, office and hospitality real estate. Westcorp Property Management Inc is well known in the commercial sector of real estate in Canada for its exceptional sales. Whitehall Square, Victoria Plaza, The Milner, Downtown Hotel, and Baywood Park are some of their projects in Canada.
Over the years this company has been able to enhance its service which has made them become one of the best in Canadian real estate.
3\. Mattamy Homes
---------------------
When referring to some of the privately-owned real estate development firms in Canada that make the most profit, Mattamy is one of them. Mattamy owns real estate assets in different parts of the country like the [**Greater Toronto Area**](https://getnewhouse.ca/blog/pre-construction-condo-vs-resale-investment-better-gta-canada/) and Calgary as well as certain parts of the United States of America.
Some of Mattamy's projects include 360 condo and Vita on the lake. This business has been able to provide jobs to many and has also offered real estate services to different clients in various areas of Canada. One of their goals is to provide an eco-friendly home, and green building material and to motivate the use of smart technologies.
4\. Westbank Corp
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The company headquarter is located in Vancouver and is one of the top real estate development companies in Canada which also have an international footprint. The company has luxury assets in both commercial and residential skyscrapers. Its reputation in the commercial real estate business, particularly in Calgary, is still being built.
Westbank Corp dares to be different from other real estate companies with their exceptional artistry projects. That's one of the things that has grabbed the attention of many towards this real estate company. They are known to be the largest LEED Platinum developer in the world. Some of their projects are Shangri-La, Bank of Italy, Telus Garden and The Butterfly and 188 Keefer St.
5\. Pinnacle International
--------------------------
It is one of the leading real estate companies in Canada known for developing luxury commercial, hotels and residential buildings. Over the years the company has been able to create thousands of residences and help to improve different areas in the country.
With each of their projects, they have provided great design in terms of architecture and interior as well as deluxe amenities. This has helped them remain one of the best in the real estate market. 33 Bay, Pinnacle Grand Prix, The Prestige and The Sorrento are some of their projects.
6\. Tridel
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It is one of the largest and oldest real estate companies in Canada with its headquarter in Toronto. The company was founded by Jack DelZottto in 1934. This company has developed thousands of houses in Canada as well as wonderful communities. The Westerly, Queen & Church and Aqualuna are part of their projects.
7\. Canadian Brookfield
-----------------------
This is a company that provides infrastructure solutions, private equity, management, credit and real estate investment which is globally recognized. So, it has landed in our list of top real estate companies in Canada.
8\. The Daniels Corporation
---------------------------
This reputable real estate company has more dominance in Thornhill, Toronto, Mississauga and Brampton real estate markets. Their commitment to quality construction, innovative design and sustainability has been their hedge over others in the industry. Kilgour Estates, Artworks Tower and High Park Condos are some projects from them.
9\. Sorbara Group Of Companies
------------------------------
This is a real estate company that also provides property management, investment and construction. Their focus on growth has helped them to penetrate the real estate market. 210 Simcoe and 400 Wellington are some of their previous projects.
10\. Firstservice Corporation
-----------------------------
For more than 20 years this real estate company has provided excellent experience and service to their clients. The satisfaction of their client has been their goal and concern which has helped with revenue generation and building reputation.
You may also like to discover [10 Steps to Build a Successful Home Renovation Business in Canada
](https://getnewhouse.ca/blog/steps-to-build-successful-home-renovation-business-in-canada)
Real Estate Companies in Canada
-------------------------------
Whether you want to invest in real estate or planning to get your dream home in Canada, you will come across the company names added above. They have proven to be reputable companies with their various projects and contributions to the real estate market. May it be detached homes, semis, or other [**new constructions**](https://getnewhouse.ca/blog/things-to-know-before-buying-pre-construction-condo-in-gta-canada), these companies have made a strong hold in different Canadian provinces.
This collection of **largest real estate companies** can help guide you through the real estate market in Canada. _**What do you think? Any other top real estate companies that we missed to include here? Do share with us.**_
20 Real Estate Terms in Canada - List for Canadian Home Buyers, Sellers & Agents
Are you ready to conquer the Canadian real estate market, but feeling a bit daunted by the abundance of jargon and complexities? Don't worry, you're not alone! The real estate industry can be a minefield to navigate, but with the right knowledge, you'll be able to understand the ins and outs of the market and make informed decisions.
So, whether you're a first-time home buyer, a seasoned seller, or a budding real estate agent don't let the jargon hold you back- let's unlock the secrets of the Canadian real estate market with the ultimate 20 real estate terms that you need to navigate the minefield of the Canadian real estate market and come out victorious.
## 20 Real Estate Terms in Canada - A Comprehensive List
Knowing real estate terms is key to being a pro in the Canadian market. It's not just for first-time buyers or sellers; it's also for sellers and real estate agents who work here but are unaware of these terms. Because understanding the lingo is what sets you up for success here. For this reason, we have words ranging in complexity from simple words to complex terms.
## **20 Basic Real Estate Terms & Concepts to Know**
So buckle up and let's dive in deep into the real estate world.
### **1. Amortization**:
The length of time it will take to pay off a mortgage, calculated by dividing the total mortgage amount by the annual mortgage payments. It is the period over which the loan is planned to be paid off, usually in a range of 15-30 years.
### **2. Appraisal**:
An evaluation of a property's value by a professional appraiser. Appraisals help to determine the fair market value of a property, which is used to help set a fair price for the property.
### **3. Closing Costs**:
The expenses associated with purchasing a property, such as legal fees, land transfer taxes, and home inspection fees. These costs can add up to thousands of dollars and are typically paid at the time of closing.
### **4. Conditional Offer**:
An offer to purchase a property that is contingent upon certain conditions being met, such as the successful completion of a home inspection. It means that the offer is made on the condition that certain things happen, such as financing or home inspection.
### **5. Equity**:
The difference between the market value of a property and the outstanding balance on the mortgage. It is the portion of the property that the owner fully owns, and it increases over time as the mortgage is paid down and the property increases in value.
### **6. Fixed-Rate Mortgage**:
A mortgage with an [interest rate](https://getnewhouse.ca/blog/what-does-higher-interest-mean-for-housing-market-in-canada) that stays the same for the entire term of the loan. It means that the interest rate will not change for the duration of the loan, providing predictability and stability for the borrower.
### **7. Home Inspection**:
A comprehensive examination of a property's condition by a professional home inspector. Home inspection is an important step in the home buying process, as it can help identify any potential issues or defects with the property.
### **8. Interest Rate**:
The percentage at which the lender charges interest on a mortgage. It is the cost of borrowing money, and it can have a significant impact on the overall cost of the mortgage.
### **9. Land Transfer Tax**:
A tax paid by the purchaser when a property is transferred from one owner to another. It is a government tax that is paid on the transfer of property ownership and varies by province.
### **10. Listing Agreement**:
A contract between a property owner and a real estate agent that outlines the terms of the agency relationship. It outlines the services that the agent will provide, the length of the agreement, and the commission that will be paid to the agent.
Also, know the truth behind a [home listed for 1$ in the [Canadian Housing Market](https://getnewhouse.ca/blog/what-it-means-when-home-listed-for-one-dollar-in-canada).
### **11. Mortgage Broker**:
A professional who acts as an intermediary between borrowers and lenders to help them find the best mortgage product. They can help borrowers find the best mortgage rate and product that suits their needs.
### **12. Mortgage Pre-Approval**:
A conditional commitment from a lender to provide a mortgage for a certain amount, subject to the buyer meeting certain conditions. It is a letter from a lender that states that you are pre-approved for a mortgage up to a certain amount, subject to certain conditions.
### **13. Multiple Listing Service (MLS)**:
[MLS or Multiple Listing Service](https://getnewhouse.ca/article/what-is-mls-in-real-estate-canada) is a database of properties for sale by real estate agents. It is a system used by real estate agents to list properties for sale, and it is a valuable resource for buyers and sellers.
### **14. Power of Sale**:
A legal process that allows a lender to sell a property in order to recover unpaid mortgage debt if the borrower defaults on the mortgage. It is a provision in the mortgage agreement that gives the lender the right to sell the property in case of default.
### **15. Property Condition Disclosure Statement**:
A document that outlines any known issues or defects with a property. It is a statement provided by the seller that discloses any known issues or defects with the property.
### **16. Real Property Report (RPR)**:
A legal document that shows the boundaries, dimensions, and location of a property, as well as any improvements or structures on the property. It is a detailed survey that shows the property's boundaries and any structures or improvements on the property.
### **17. Title Insurance**:
Insurance that protects the buyer and the lender against any issues with the property's title or ownership. It protects against any hidden issues with the property's title, such as outstanding liens or encumbrances.
### **18. Underwriting**:
The process of evaluating a mortgage application to determine whether to approve the loan and what terms to offer. It is the process used by lenders to evaluate a borrower's creditworthiness and ability to repay the loan.
### **19. Zoning**:
Set of regulations established by local governments that determine how land can be used in a particular area, by dividing the municipality into different zones and regulating the development, density and allowed uses of the land.
### **20. Lease**:
A lease is a legal agreement between a landlord and tenant outlining the terms and conditions of renting a property, including the rental amount, length of the lease and responsibilities of both parties.
## **20 Advanced Real Estate Terms & Concepts to Know**
Now, let's get an idea on some of the advance terms used in the real estate industry.
## **1. ‘As Is’ clause**
Let's learn about this real estate concept from both a seller's and a buyer's point of view.
#### **For sellers**
"As-Is" clause means property is sold in current condition, with no promises or guarantees from the seller.
- It can be a quick and cost-effective option for sellers.
- But, it also means that the buyer will have to take on any necessary repairs or renovations.
- Legally required to disclose all issues with the property, including providing a detailed statement of condition, prepared by a professional, and based on an inspection.
#### **For buyers**
"As-Is" properties may come at a lower price, but they can also end up costing more if extensive repairs are needed.
- It's crucial to do a thorough inspection of the property to reveal any potential issues.
- Consider including a "subject to inspection" clause in the contract, which allows the buyer to back out if the inspection reveals more problems than initially disclosed by the seller.
- Important to proceed with caution and have a solid team of professionals, including a real estate agent, home inspector, and attorney, to minimize the risk.
For more details, refer [What does As-is clause mean in real estate?](https://getnewhouse.ca/article/what-does-as-is-where-clause-mean-real-estate-canada)
### **2. POA (Power of Attorney)**
POA is a legal document that allows you to give authority to another trustworthy person(s) to manage your property or money on your behalf.
- The person you appoint is called your attorney, and they do not have to be a lawyer.
- It is required that a person be ‘mentally capable’ at the time of signing a POA for it to be valid.
- Laws, requirements, and definitions of POA vary across provinces and territories in Canada.
- Real Estate and POA
In real estate, your attorney can manage buying or selling of real estate in your name, pay bills on your behalf, and even collect money owed to you, unless restricted to do so.
Your attorney does not become the owner of your property, they can only manage it on your behalf.
### Types of POA
- **General Power of attorney**: Allows your attorney to manage all or part of your finances and property only while you are mentally capable of managing your own affairs. Becomes invalid if you become mentally incapable. Can be limited to a particular task or time period.
- **Continuing power of attorney**: Allows your attorney to continue managing your finances and property even if you become mentally incapable to do so. Can start immediately or come into effect when you become mentally incapable.
### **3. MLS (Multiple Listing Service)**
MLS (Multiple Listing Service) is a database of properties for sale or rent, maintained by real estate agents and brokers.
- It allows agents to share information about properties with other agents in their area, increasing the chances of a sale or lease.
- MLS data is only available to real estate agents and brokers who are members of the service.
- It includes detailed information about properties, including photographs, prices, and descriptions.
- MLS can be a powerful tool for buyers, sellers, and real estate professionals to find and market properties.
### **4. CCIM (Certified commercial investment member)**
CCIM (Certified Commercial Investment Member) is a professional designation for commercial real estate professionals.
- It is awarded by the CCIM Institute after completing education and demonstrating experience.
- Recognized as mark of expertise in commercial and investment real estate.
- Only held by a select group of professionals.
- CCIMs are trained to analyze investment opportunities.
### **5. CPM (Certified Property Manager)**
CPM (Certified Property Manager) is a professional designation for property management professionals.
- It is awarded by the Institute of Real Estate Management (IREM) after individuals complete a rigorous education curriculum and demonstrate their experience in property management.
- The CPM designation is recognized as a mark of expertise in the property management industry.
- Only held by a select group of professionals.
- CPMs are trained to manage and maintain properties effectively and efficiently.
### **6. CMA (Comparative Market Analysis)**
CMA (Comparative Market Analysis) is a report that compares a property to similar properties in the same area.
- It is used to determine a property's estimated value, and to help with pricing decisions when buying or selling a property.
- A CMA includes information about recent sales and current listings of similar properties.
- It also includes information about market trends, such as average days on market and sale-to-list price ratios.
- CMA is a helpful tool for both sellers and buyers to have a better understanding of the market and make informed decisions.
### **7. CRE (Commercial Real Estate)**
CRE (Commercial Real Estate) refers to properties used for business or investment purposes.
- It includes properties such as office buildings, retail centers, industrial warehouses, and multifamily apartments.
- CRE transactions are generally more complex and involve more money compared to residential real estate transactions.
- CRE professionals such as brokers, investors, and property managers have specialized knowledge and skills to navigate the market.
- CRE can also include special purpose properties such as hotels, hospitals, and self-storage facilities.
### **8. CAC (Central Air-Conditioning)**
CAC (Central Air-Conditioning) is a type of air conditioning system that cools a building or home by circulating chilled air through ductwork.
- It typically uses a central unit, such as a furnace, to cool the air and distribute it throughout the building.
- CAC systems are often more efficient and can cool larger areas compared to individual room air conditioners.
- It can also improve air quality by filtering and circulating air throughout the building.
- CAC systems require regular maintenance to ensure they are functioning properly and efficiently.
### **9. COI (Certificate of Insurance)**
A Certificate of Insurance (COI) is a document that verifies that a specific insurance policy is in effect and provides details on the coverage provided.
- COIs are typically issued by insurance companies or their agents and are used to provide proof of insurance to third parties, such as lenders or landlords.
- COI includes: insured name, policy number, coverage type/limits, and insurance company/agent contact information.
- Some COIs may also include additional information, such as endorsements or exclusions to the policy.
- COIs are not the same as the insurance policy itself and do not provide all of the terms, conditions, and exclusions of the policy.
### **10. CMHC (Canada Mortgage and Housing Corporation)**
Canada Mortgage and Housing Corporation (CMHC) is a Crown corporation of the Government of Canada.
- Its primary function is to provide mortgage loan insurance to Canadian banks and other lending institutions.
- This insurance helps protect lenders against losses if a borrower defaults on a mortgage loan.
- CMHC also conducts research and provides information on housing markets and trends, as well as housing-related programs and services.
- CMHC is funded by premiums paid by borrowers who take out mortgage loans that are insured by the corporation.
### **11. CMA (Comparative Market Analysis)**
A [Comparative Market Analysis (CMA)](https://getnewhouse.ca/article/what-is-cma-in-real-estate-canada) is a report that compares a property to similar properties that have recently sold or are currently on the market.
- It is used by real estate agents, appraisers, and homeowners to estimate the fair market value of a property.
- A CMA typically includes information such as the property's location, size, condition, and features as well as information on comparable properties, including their sale prices and other relevant details.
- It is based on recent sales data, it helps in determining the current market value of a property
- It is used to set the price for a property that is for sale or to be appraised.
- A CMA can also be used to evaluate the potential return on investment for a rental property or a fix and flip investment.
### **12. ARV (After Repair Value)**
After Repair Value (ARV) is a term used in real estate investing to refer to the estimated market value of a property after any necessary repairs or renovations have been completed
- It is used to determine the potential profitability of a fix-and-flip investment or the maximum purchase price for a property being considered for a rental or rehab project.
- ARV is calculated by taking the estimated market value of a property in its current condition, subtracting the cost of repairs and renovations, and then adding any potential value-adds such as an addition or a finished basement.
- It is an estimate of the potential of the property in the future after the repairs are done
- It helps in determining the maximum amount to be spent on the renovation and property purchase, so it doesn't exceed the potential value of the property after renovation.
### **13. LTV (Loan to Value)**
Loan-to-value (LTV) is a ratio used in the mortgage industry to indicate the size of a loan compared to the value of the property being used as collateral.
- It is calculated by dividing the loan amount by the value of the property.
- It is used by lenders to determine the risk of a loan and the creditworthiness of a borrower.
- A higher LTV ratio indicates a higher risk to the lender, as the borrower has less equity in the property.
- LTV is used to determine the minimum down payment, interest rate, and maximum loan amount
- Lenders usually have different LTV ratios for different types of properties and loans.
- A high LTV ratio may require a higher interest rate or mortgage insurance.
### **14. Cap Rate**
The Capitalization Rate, or Cap Rate, is a measure used in real estate investing to indicate the rate of return on a property based on its income and purchase price.
- It is calculated by dividing the property's net operating income by its current market value or purchase price.
- Cap Rate is a metric used to compare the potential returns of different properties.
- A higher cap rate indicates a higher return on investment, and a lower cap rate indicates a lower return.
- Cap rate is used to evaluate the performance of a property and its potential as an investment.
- Cap rate can be used to compare the yields of different properties and areas, even though it is a ratio, it does not take into account the cost of debt.
### **15. GDS (Gross Debt Service)**
Gross Debt Service (GDS) ratio is a measure used by mortgage lenders to determine a borrower's ability to afford the mortgage payments on a property.
- It is calculated by dividing the total mortgage payments, including principal, interest, property taxes, and heating costs, by the borrower's gross income.
- GDS is one of the two ratios used to qualify borrowers, the other being TDS (Total Debt Service).
- It is used to evaluate the borrower's ability to meet the housing cost, it is usually expressed as a percentage.
- Lenders usually have a maximum GDS ratio, typically between 31% and 39%
- A high GDS ratio may indicate that a borrower is over-extended and may have difficulty making mortgage payments.
- A low GDS ratio may indicate that a borrower has a lower risk of defaulting on the loan.
### **16. TDS (Total Debt Service)**
Total Debt Service (TDS) ratio is a measure used by mortgage lenders to determine a borrower's overall ability to afford the mortgage payments on a property, as well as their other debts and expenses.
- It is calculated by dividing the total monthly debt payments, including mortgage payments, credit card payments, car loans, and any other debts, by the borrower's gross income.
- TDS is one of the two ratios used to qualify borrowers, the other being GDS (Gross Debt Service).
- Lenders usually have a maximum TDS ratio, typically between 42% and 44%
- A high TDS ratio may indicate that a borrower is over-extended and may have difficulty making mortgage payments and other debts.
- A low TDS ratio may indicate that a borrower has a lower risk of defaulting on the loan and other debts.
### **17. JT (Joint Tenancy)**
Joint Tenancy is a type of co-ownership of property where two or more individuals own the property together.
- Each owner holds an equal and undivided interest in the property.
- Joint tenants have the right of survivorship, meaning that if one of the owners passes away, their interest in the property passes automatically to the remaining owners.
- In a joint tenancy, all parties have equal rights and responsibilities on the property
- Each joint tenant has the right to use the entire property.
- All the parties need to agree to sell the property or make any changes to it.
- In case of death, the share of the deceased tenant automatically goes to the surviving tenant/s.
### **18. TIC (Tenancy in Common)**
Tenancy in Common (TIC) is a type of co-ownership of property where two or more individuals own the property together, but each has a distinct and separate share of the property.
- No right of survivorship, meaning if one owner dies, their share does not automatically pass to the remaining owners.
- Allows multiple parties to invest in real estate together or pass assets onto beneficiaries.
- Each tenant owns a specific percentage of the property and can sell or dispose of their share.
- Tenants have right to use entire property, but cannot sell or make changes without agreement of other tenants.
- In case of death, share is passed on according to will or testamentary disposition, not automatically to surviving tenants.
- Different from Joint Tenancy which has equal shares and right of survivorship.
### **19. Lien**
- A lien is a legal claim on a property that gives a lender or other creditor the right to seize the property if the borrower or property owner fails to fulfill their obligation.
- Liens can be placed on property for unpaid debts, taxes, or other financial obligations.
- Liens can be either voluntary, such as a mortgage, or involuntary, such as a judgment lien.
- Liens are recorded in the public records, this means that they are visible to anyone who searches. the records.
- When the property is sold, the lien must be paid off before the sale can be completed.
- If the lien is not paid off the property may be foreclosed or seized by the creditor.
### **20. Ontario Agreement of Purchase and Sale**
The Agreement of Purchase and Sale (APS) is a legally binding contract between a buyer and a seller for the purchase of a property in the province of Ontario, Canada.
- Outlines terms and conditions including purchase price, closing date, and contingencies.
- Prepared by a real estate agent or lawyer, reviewed and signed by both parties, and a copy provided to each.
- Includes schedule of chattels and fixtures, closing date, and contingencies, if any.
- Legally binding contract, both parties have legal obligations and rights related to the sale.
- Buyer typically pays deposit held in trust until closing.
- Starting point for completion of sale transaction and ownership transfer.
## Knowing the Canadian Real Estate Concepts
The understanding of the real estate terms specific to Canada is essential for home buyers, sellers and agents in order to navigate the market and make informed decisions.
Being familiar with terms such as CMHC, ARV, LTV, Cap Rate, GDS, TDS, JT, TIC, CMA, APS, and others, can help you understand the mortgage process, evaluate properties, and negotiate the terms of a sale.
Whether you're a [first-time home buyer](https://getnewhouse.ca/blog/renting-vs-buying-home-canada-better), an experienced investor, or a real estate agent, having a solid understanding of these terms will help you make the most of the Canadian real estate market. Did we miss any important term here? Do you wish to include any other interesting concept on real estate in Canada, do comment and share your views.
Is Oakville in Ontario (Canada) a good place to live?
**Have you heard of Oakville in Ontario, Canada? Wondering if Oakville is a good place to live.** Let's get a clear picture of the pros and cons of living in a sub-urban city like Oakville.
To move from where you've previously to another new area is an exciting, but a tiring prospect. Not only do you need to research good places to live in, but you also need to plan, prepare, pack, and move. The packing process is sometimes fun, whereas the unpacking process is quite tedious. So, if you are thinking of moving to a new area in Canada, research the area.
Find out if the place is safe for your family, conducive, and affordable to live in. One prime example of a good place you can move to is Oakville, Canada. Think about nature, places of attraction, ease of transport, affordable housing, and low crime rates, **Oakville** has it all. In addition, you can invest in **real estate** in **Oakville**.
Oakville in Ontario, Canada - A Glimpse
---------------------------------------
Oakville is located in Ontario, Canada, in the northern part of the American continent. It is the biggest town among all towns in Ontario, with thousands of residents living there. When you look at the Canadian map, you will find Oakville on Lake Ontario. It is also closer to Ontario, but retains its suburban look and features. Therefore, it's a **good place to live** for people who love quiet areas.
Furthermore, Oakville is surrounded by wonderful places of attraction and nature. It's a place where you can rest assured of your family's safety. You can take your family out to enjoy the calming atmosphere of the Oakville environment. It's no wonder Canadians are relocating to Oakville every day.
Oakville Climate and Weather Conditions
---------------------------------------
Oakville's climate can be described as humid, especially in the summer season. In the winter season, Oakville has a dry and freezing temperature with lots of wind. However, Oakville doesn't freeze below three degrees, unlike other towns. According to weather statistics, Oakville has hot summers, so much so that people find ways to cool off. It can rise as high as ninety degrees during the hottest days.
Oakville Governing Council/Bodies
---------------------------------
The town has a governing town council that comprises the council members and the mayor. In addition, Oakville is divided into two provinces, and each province has its own representative members.
You may also like to explore [Best Toronto Suburbs for Families to Live & Grow](https://getnewhouse.ca/blog/10-best-toronto-suburbs-for-families-to-live-and-grow)
How Can You Benefit From Living in Oakville?
--------------------------------------------
Oakville Town has many things to offer its residents. Residents don't need to go to other towns to enjoy their parks. They can stay in Oakville and visits the many parks there. The best time to enjoy the parks is during the fall season. There are also lakes with stunning views in Oakville. Sports enthusiasts are not left behind as Oakville offers many outdoor activities.
Reasons, why you should stay in Oakville, are:
### 1\. Job Opportunities:
It may be due to its small population, but Oakville has different job vacancies for its residents. It is also worthwhile to note that several big firms are present in Oakville. Thus, if you plan to stay there, here are major hiring sectors you may choose from: education, healthcare, transport, automobile, and the government sector. Another employment option is to go and work in Toronto, since it's close by while you live in Oakville. You don't need to worry about transportation because Oakville has different modes of efficient transportation. Additionally, Oakville residents have the highest average income in Canada.
### 2\. Safety:
Oakville has a low crime rate, making it one of the safest Canadian towns to live in. The local police monitor the town and ensure the place is safe to live in. The law enforcement officers also maintain law and order in Oakville.
### 3\. Sports Facilities:
Sports enthusiasts and families with kids will adore Oakville for providing sports facilities. Nearly every Oakville resident is engaged in one form of sport or the other. Children who are active in sports can choose from golf, baseball, lacrosse, and soccer. Furthermore, Oakville's skating club is known as the largest Canadian skating club.
### 4\. Cultural Diversity:
Oakville has a diverse population with different cultures, religions, and traditions. So if you belong to a minority group, you'll feel at home in Oakville. Each cultural group is friendly and accepting of other cultural groups. Whether you are a Christian Muslim, Hindu, Sikh, Judaist, or Buddhist, you'll be welcome and find a place to worship.
Additionally, Oakville has thriving arts and culture centers and events in place. They are governed by councils who ensure everything goes smoothly. The Councils conduct film festivals, movie showings, and live stage performances. The town also holds events like concerts in an auditorium for residents to enjoy.
### 5\. Education:
Oakville has several universities, high schools, preschools, and kindergartens that are well-equipped. Its educational system is of a good standard. The schools are not too far from each other and have well-qualified teaching and non-teaching staff.
### 6\. Transportation:
Oakville has various means of transportation. It has two main highways, a Metro, and a railway station. Similarly, Oakville boasts of an airport that is close to the capital.
### 7\. Places of Attraction:
After a hard day at work, the next thing is to relax. Oakville has many relaxing places like the golf courses which are popular in Canada. There are media stations, waterways, lakes, parks, gardens, yacht clubs, and picturesque sceneries.
Why You May Re-Consider Living In Oakville? The Downsides
---------------------------------------------------------
No matter how beautiful a place is, it'll still have its downsides.
Here are some things you should know before moving to Oakville.
1. It is expensive to go to restaurants in Oakville, so many residents opt for fast food and takeaways.
2. The best thing is for you to have your own car to make it easy to move around. This is especially good for people with families and young ones.
3. House prices may increase shortly due to Oakville's proximity to Toronto.
Do remember to explore the [**Best 10 Cities to Live in Ontario, Canada**](https://getnewhouse.ca/blog/top-10-best-cities-to-live-in-ontario-canada).
Is Oakville a good place to live?
---------------------------------
Oakville has carved a niche for itself as an I.T and science town. This has attracted lots of **real estate** investors. Property developers continuously submit housing development proposals to the government.
To cap it all, the people living in **Oakville** are friendly and accommodating. So be rest assured that if you and your family move there, you'd enjoy the place.
Who can buy real estate in Canada?
In recent years, the Canadian real estate market has attracted global attention, with many foreign investors hoping to invest in the market as a place to park their money as well as for potential rental cash flows.
Additionally, Canada is a well-liked destination for immigrants, and many of them intend to settle there by purchasing real estate. However, there are a few things you should be aware of before attempting to purchase a home in Canada, whether it be for investment purposes or as a primary residence.
## Who can buy real estate in Canada?
Canada did not have any restrictions for non-residents willing to purchase a property until recently. Anyone is free to purchase any number of homes they desire. But in some parts of Ontario, including Kingston, Toronto, and Ottawa, among others, a non-resident is charged a 15 percent non-resident speculation tax on any property they buy with interest.
In addition, a non-resident must put down 35 percent of the purchase price in cash, with the remaining 65 percent being financed. And it usually takes between 60 and 90 days to complete the home purchase. It might only take a month if the house is empty.
## Is there any restriction on buying property in Canada?
The federal government included the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the "Act") in its 2022 budget in an effort to lower housing costs. The law forbids non-Canadians from directly or indirectly purchasing residential property in Canada for a period of two years. It received Royal Assent as part of Bill C-19 on June 23, 2022, and is anticipated to go into effect on January 1, 2023.
Although some of the ban's most important elements have not yet been decided and will be covered by additional regulations (the "Anticipated Regulations") later this year.
## Buying real estate in Canada
In Canada, there are no restrictions on purchasing property as of 2022. However, the foreign home buyer ban is going to be implemented to control the soaring Canadian real estate market. Anyone, whether they are a resident or not, is eligible to purchase real estate in Canada as long as they meet the requirements and submit the required paperwork.
Is Innisfil a good investment?
Innisfil in Ontario, Canada, is gaining attention as a potential investment destination. With a growing population, affordable real estate and proximity to Toronto, this is not very surprising. This is luring many investors to invest in
But, it's important to explore the reasons why you should consider investing in Innisfil and the factors to consider before making your decision.
## Is Innisfi a good investment?
Innisfil is considered to be a promising destination for property investment. With Toronto's proximity, growing population, affordable real estate and stunning natural beauty, it offers a special combination of advantages that appeal to countless buyers and investors.
## Why is Innisfil good for real estate investing?
However, here are the things that make it a potential investment location:
## Emerging City: The Evolution of Innisfil
Innisfil's population has grown steadily over the years and this pattern is expected to continue. This development is due to the city's low cost of living, good schools and stunning natural beauty, making it a desirable location for families and energy professionals.
## Proximity to a big city: the benefits of living near Toronto
Located just a short drive from Toronto, Innisfil offers residents the best of both worlds. On the one hand, they can participate in a peaceful rural life, they have all the comforts and job opportunities of the big city at their best.
## Affordable Real Estate: A Great Investment Opportunity
Compared to other cities in the Greater Toronto Area, Innisfil's real estate costs are relatively low. This makes it an attractive decision for first-time buyers or those looking to invest in rental properties.
## Try the Outdoors: The Natural Beauty of Innisfil
Innisfil is known for its stunning natural beauty such as the lakeshore, parks and hiking trails. This natural beauty attracts tourists and outdoor enthusiasts, making it a much more desirable place to live.
## Things to consider before investing in Innisfil Real Estate
While there are many advantages to investing in Innisfil property, there are some potential disadvantages to keep in mind. One is the limited potential for real estate appreciation, as urban population and economic development are important strengths for small towns. In addition, there is always the risk of remaining empty, and maintenance and repair costs can increase over time.
Indeed, Innisfil is a growing town with a lot to offer, making it an excellent investment opportunity for people looking for a balance between city and country life. Remember to consider all factors before making a decision and research them as needed.
Pre-construction Condos vs. Resale: Which is better investment in GTA, Ontario?
Are you thinking of buying a new home in Greater Toronto Area (GTA), Ontario, or any place in Canada for that matter? **Pre-construction Condo vs Resale: Which should you invest in?** This is a common question that comes to your mind while taking such a big financial decision. We are here to reduce your home buying stress and provide information on the **hot and trending housing topics** in Canada.
_"Congratulations on purchasing your new home"_ is a comment many people hope to hear. Owning a property is an achievement and a milestone. However, many people are confused about purchasing **real estate** properties. Should they go for a pre-construction or under-construction property or a resale property?
To clarify this situation, **a pre-construction house** (talking of condos here!) is **a house yet to be constructed or undergoing construction**. While **a resale house** is **a property that has been constructed** and buyers can pack in after payments.
Pre-construction Condos vs. Resale
----------------------------------
Now, let's check out **pre-construction condo vs. resale properties** to see which is better.
**Benefits of Purchasing a Re-sale Property**
---------------------------------------------
* **Its Tangibility:** Re-sale is tangible because prospective buyers go visit the properties to get a feel of the layouts. You can also physically assess the size of the buildings you want to purchase.
* **Affordable Deposit:** Re-sale deposit is cheaper than other properties. It is popular among those interested in **real estate in Canada**. Additionally, you only make the deposit once.
* **No Additional GST Cost:** Buyers don't need to pay additional GST after completion of the house.
* **Property Transfer Tax Exemption:** Residents of Canada who meet all tax exemption criteria are exempted from paying resale tax. They are exempted when they buy properties worth at most $500,000.
**Cons of Resale Properties**
-----------------------------
* **The properties are used properties:** Resale properties are mostly lived-in properties or used properties that the owner wants to sell. Because of this, some buildings might have old-fashioned styles.
* **Need for Renovation:** Since resale houses are old houses, new buyers need to renovate the buildings to make them look new. They might also need to change the decor inside the buildings.
* **Not easy to customize:** It isn't easy for you to change the decor, floorings, lighting, and so on.
* **No fixed payment:** No Fixed price means price negotiation is possible. However, this is also disadvantageous. Sellers can decide to organize bidding events where buyers compete to win the bid. Buyers may even purchase these properties at a price more than the original selling price.
You may also like to learn about **[Home Inspection Tips - Red Flags to Look for!](https://getnewhouse.ca/blog/home-inspection-tips-first-time-homebuyers-red-flags-to-look-for)**
**Pros of Pre-construction Condos**
-----------------------------------
* **New Properties:** Unlike re-sale properties, pre-sale condos are newly constructed or undergoing construction. Therefore, the structures and designs are new and modern-looking.
* **Easily Customizable:** If you purchased a [**pre-construction property**](https://getnewhouse.ca/blog/things-to-know-before-buying-pre-construction-condo-in-gta-canada), you have the power to suggest changes while construction is ongoing. You can decide to change the floorings, ceiling patterns, color schemes, cabinets, and so on.
* **Long deposit period:** The gap between one deposit and the next increases. This makes it easy for buyers to spread their payments and meet up with the payments.
* **Property Transfer Tax Exemption (PTT) for Canadian Citizens or Residents:** Residents of Canada who meet the tax exemption criteria are exempted from paying presale tax. For newly built homes, the PTT exemption is for purchase price of $750,000 , on the higher side as compared to resale condos. So, if you are an eligible purchaser, you can enjoy some extra benefits.
**Disadvantages of Purchasing Pre-construction Condos**
-------------------------------------------------------
* **Intangible:** Purchasing a house that has not been built means you can only see the house plan. You can't physically visit the site to check out the house because it has not been built yet. The builders may decide to change the house measurements to differ from what you were initially shown.
* **Suddenly Rise in Interest rates or Mortgage Price:** Presale is different from resale properties where payment is a one-time or two-time payment. Presale payments can extend to two years or even ten years. The long payment time is quite risky because many things may happen to increase your mortgage. The [**interest rate**](https://getnewhouse.ca/blog/what-does-higher-interest-mean-for-housing-market-in-canada) in presale properties may increase suddenly.
Other factors may also contribute to your inability to complete the payments. For example, you may become unemployed after paying the initial deposits. Without a job and an income, you can't meet up with the mortgage. The tax rate on properties may increase a year after you made your initial deposits. All of these contribute to the inability of some people to meet up with their payments. If you are unable to complete payment after construction is completed, you may lose the property.
* **Expensive Deposit:** Presale deposits are three to five times higher than resale deposits.
* **Extra Charges:** Presale buyers must pay extra charges like GST charges.
Pre-construction Condos vs. Resale: Which is better?
----------------------------------------------------
After weighing the benefits and disadvantages, choosing re-sale or pre-sale hinges on the buyer.
Are you sure you have the fund and the patience to wait? Then go for pre-sale condos that have modern looks.
However, if your source of funds is not sure and you don't want to wait, go for resale properties. Resale property is a safer option, and there is a guarantee that you will pack in after payments.
Which one would you prefer, investing in a [**new pre-construction property**](https://getnewhouse.ca/blog/is-new-construction-good-investment-property-ontario-canada/) or a re-sale one? The final decision is your, so make it wisely.
Which is best forum to discuss Ontario Real Estate in Canada?
The overall strength of the economy in Ontario impacts the demand for housing and potentially influences prices; as a result, buyers, and sellers compete with each other to buy or sell homes. As a result, it is crucial to have a forum where one can seek the right advice from professionals who can identify market trends, the appropriate buying and selling price, and other elements that have an impact on the real estate market.
So, today we'll look at the best Canadian real estate discussion forum for Ontario, where you can find all the solutions to your real estate questions.
## Which is best forum to discuss Ontario Real Estate in Canada?
[**GetNewHouse**](https://getnewhouse.ca/) **is one of the Canada's biggest real estate social networks and fast-growing Canadian Real Estate Forum & Discussion Platform**.
It covers a wide range of topics related to Canadian real estate that are more useful for users with diverse interests or needs. The forum also covers nearly all of the popular cities and provinces where there is a high interest in the real estate market. Additionally, it has a section specifically dedicated to the Ontario market. Everything from the housing market to land taxes has been discussed, and the best part is that all questions are answered succinctly but completely by real estate experts with years of experience in Ontario real estate.
Numerous blogs and FAQs are available, covering not only Ontario but also more than 100 cities. Therefore, if you're looking to discuss Ontario real estate in Canada, GetNewHouse is the best forum with the best experts.
## What makes GetNewHouse.ca the best?
GetNewHouse.ca is best and fast-growing Real Estate Forum & Discussion Platform because -
- the queries are answered by real estate experts.
- it covers more than 100 cities.
- it has user-friendly interface that is easy to navigate and filters for easy search.
- thousands of questions have already been answered, but you are welcome to post your own.
## Best forum to discuss Ontario Real Estate in Canada
If you find that your query has not been addressed yet, feel free to post it at [**GetNewHouse**](https://getnewhouse.ca/faqs/all). Experts will respond to your query as soon as they can.
Is Ajax in Ontario (Canada) a Good Place to Live?
Are you thinking of moving to Toronto suburbs? You might have you heard about Ajax, a popular town in Durham region in Ontario. Are you looking for a house, and wondering, **Is Ajax in Ontario, Canada a good and safe place to live?** Let's find out the answer while discussing the pros and cons of living in this area.
Ajax (Southern Ontario)
-----------------------
Located in the eastern part of the Greater Toronto Area(GTA), **Ajax** has become one of the most-sought for families and millennials. This is not surprising as this [**Toronto suburb area**](https://getnewhouse.ca/blog/10-best-toronto-suburbs-for-families-to-live-and-grow) has experienced the fastest growth over the years. It depicts a true reflection of rich cultural diversity, which makes it a melting pot of different cultures and cuisines. Another plus to it is that it has a lower crime rate than the Ontario average. This alone is enough to make it an appealing place for anyone escaping the hustle bustle of the city for a quieter life in the suburb area. Planning to move to Ajax?
Here is a definitive guide containing the pros and cons of living in Ajax to help you make informed decisions.
Advantages of Living in Ajax, Ontario
-------------------------------------
Let's have a look at some of the advantages of living in Ajax, Ontario:
### 1\. Surround Yourself with Nature
If you are looking for a place to get lost in nature, Ajax is the right one. Ajax boasts of picturesque lake with a wealth of green views. For ones, the Greenwood conservative area has beautiful scenery with a mix combo of grasslands, coniferous forests and a number of hiking trails. Whether you want to go hiking, fishing or skiing, this park is enough to get your weekend fun-filled. Moreover, you can decide to take a walk along the Paradise beach and enjoy a lazy afternoon with your family.
### 2\. So much to Enjoy
Synonymous with great gaming, horse racing, electronic table games, Ajax is one-stop-shop for all things entertainment. Ajax has been known for its Quarter horse racing since 1969. It hosts Canada's high-ranking quarter race track annually and it's one of the biggest attractions Ajax takes pride in. Aside from that, there is an Ajax casino where you can spend the evening trying your luck and enjoying the whole electronic game.
Need a beautiful kids day out? Children can have some adrenaline-pumping games at Endless fun.
### **3. Appreciate the Arts**
Ajax is remarkable for its rich history and culture. You can get immersed in various shows at St Francis centre that houses different varieties of performances, artists throughout the year. Visit one of the gallery spaces to take in the unique, beautiful work of art. Explore the many memorials, and art pieces showcased at the council chambers lobby of town hall. Art enthusiasts have got a lot to enjoy.
Also, don't miss to learn [**7 Reasons to Live in Stoney Creek, Ontario, Canada**](https://getnewhouse.ca/blog/reasons-to-live-in-stoney-creek-ontario-canada/)
### **4\. Great Neighbourhoods**
Ajax is not just along the side of lake Ontario, there are other great neighbourhood options that have garnered homeowners attention over the years. Duffin Bay, Riverside, Discovery Bay are among the many well-established regions. They feature a wide variety of home styles and prices, amenities, shopping malls and restaurants and many other perks to make your stay a good one.
### **5\. A Safe and Secure Environment**
According to areavibes.com, Ajax crime rates are 38 percent lower than the average and it's considered safer than 80 percent of other cities in Canada. This makes it safe and secure for families and individuals to live without fear of becoming victims of crimes.
### **6\. Affordable Real Estate**
When compared to other GTA places, Ajax housing and real estate is affordable. With inflation at its peak, and [**high mortgage interest rates**](https://getnewhouse.ca/blog/what-does-higher-interest-mean-for-housing-market-in-canada) little wonder why many people keep flocking from the city to this suburb area. Many who are looking to have a place they can call a home are betting on Ajax because of its affordability.
### 7\. A Welcome Place for All
People from all walks of life are welcome to make a home in Ajax. The residents make this a priority by organizing events and programs that promote cultural diversity and love. Not only is it a great way to have fun, it also brings people together and helps them connect on a deeper level.
Disadvantages of Living in Ajax, Ontario
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Few drawbacks of living in a sub-urban city like Ajax are:
### 1\. High Property Tax
Not everything is greenery and roses in Ajax and it's sure has its own downsides. One of them is the high property tax which is one of the highest in Toronto. Because of the less population as compared to the metropolitan cities, this has make the town's tax rate to be on the increase. Although the properties are less expensive, the tax rate is one disadvantage to consider before moving in.
### 2\. High Traffic Congestion
Ajax has been notorious for difficult commutes as many struggle with trafficblockage especially during the rushing hours. The Highway 401 contribute to Canada's worst traffic bottlenecks. It runs through the eastern and western towns. This means it's the only route many people from Pickering and other communities passed through to and fro Toronto. This is one important aspect policy makers should look into in order to reduce congestion. The intersection at the Westney south of Kingston is also worst especially during the morning rush. Residents have complained it has make them miss their GO train which isn't all fun.
### 3\. You sure need a Car
No matter where you are in Ajax, you need a car for your daily conveniences. Whether you have to go shopping, visit plazas, dining out, groceries, you need a car to get you going. Besides, Ajax run on a rudimentary transit system and it isn't as robust as Toronto transit. If you plan to visit any city nearby, there aren't no transit system that runs frequently. It's also a hassle if you stay out late in downtown except you have a car. Hence, ensure you have access to a car in order to have a hassle-free stay in Ajax.
Do remember to explore the [**Best 10 Cities to Live in Ontario, Canada**](https://getnewhouse.ca/blog/top-10-best-cities-to-live-in-ontario-canada).
Living in Ajax, Ontario (Canada)
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Overall, Ajax is a **good place to live** to live with a lot of benefits to avail of. While some love the diversity, arts and culture and praise the housing affordability. Others find the limited transit system a big deal and couldn't cope with the heavy traffic. It all stems down on your needs.
Despite the downsides, Ajax still remain many favorites and it's better if you take the plunge and come find out everything it has to offer. Now, whether you are [**renting or buying a house in Ontario (Canada)**](https://getnewhouse.ca/blog/renting-vs-buying-home-canada-better/), the above details will be surely help you. A perfect guide to take an informed decision and ensure you have a successful stay in the town.
_After knowing the pros and cons of living in this city, what do you think? Is Ajax, Ontario a good place to live? Do share your views and experiences thereon._