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Toronto Renters: It’s Time to Think About Becoming a Buyer

Thinking about renting a place downtown Toronto? You should probably think about becoming a buyer instead.

Rental rates over the past month have risen from $25 to $100 per month more than in May. The sale or lease price to the listing price now averages 101%! That means not only are most rentals attracting multiple offers, a tenant must be prepared to offer full price as a minimum or don’t even bother to submit the offer.

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Toronto Real Estate Sees Record New Listings In May – Yet Decline in Overall Sales

Toronto real estate sellers set a record for new listings in May, yet the weather isn’t the only thing that’s been cool as of late.

The Toronto Real Estate Board’s (TREB) latest release shows buyer demand is nowhere near last year’s levels. Generally speaking, the market saw much more conservative price movements, listings skyrocket, and sales decline.

Yet, Toronto prices increased by 29%! Go figure.

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When looking for a new home should you buy or sell first?

For a homeowner, there is no easy answer when deciding whether to sell your existing home or find a new one first, as there are pros and cons to consider with both options.

“Several factors will impact your decision, including your personal finances, your timeline and local market conditions,” explains Ettore Cardarelli, president of the Ontario Real Estate Association. “It is different for each homebuyer.”

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What are renovation shows not telling you?

Renovating a home can be a wiser investment than moving and popular makeover shows are certainly inspiring. However, these shows can also leave viewers with mistaken impressions.

If life was like TV, we could dream up an addition on a Friday evening and be drinking coffee in it on Monday. While most of us know that’s unrealistic, some may have to experience living through a renovation to understand how complex and time-consuming construction can be.

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