Our Home Buyer’s Guide is a series of articles that detail the processes of buying pre-construction properties. Also included are several pages that discuss more general topics, such mortgage practices and the Canada Revenue Agency’s real estate tax laws.
An Explanation of Condo Maintenance Fees
Condominium ownership will involve monthly maintenance fees. These condo fees do not go to the builder-rather, they are managed by the property manager designated by the owners to run the day to day operations of the Condominium Corporation. Types of Condo Fees These fees are charged in accordance with the facilities that each buyer has purchased-if a resident does not own a locker or ...
Assignments
Because the project has not yet been officially registered, homes and condominium units that are sold pre-construction cannot technically be "sold" prior to completion. Rather, what can be sold is the purchase contract of a unit to a future buyer. This is called an assignment. Not all contracts for pre-construction units provide the right of assignment-this right may be an incentive the builder/developer gives ...
Benefits of Buying With a Platinum VIP Realtor
The benefits of buying pre-construction condos & homes through a Platinum sales representative are quite extensive. If you are interested in purchasing pre-construction real estate, it is highly recommended that you do so through through an agent that is well-versed in how this particular facet of the market operates. This will allow you to receive the best deal possible, as well as take full ...
Benefits Of Investing In Real Estate
The simplest way to think about a real estate investment is simply whether or not the value of the property is higher than when you first bought it. However, there are several additional factors that make investments in condos (as well as other types of residential real estate) one of the best ways to help you prosper: At its core, a real estate investment ...
Buying vs. Renting
Buying a home and renting one both have pros & cons, but which one is right for you depends on each individual situation. Benefits of Buying In addition to offering stability and the pride of homeownership, buying has several other major advantages: All Payments Help You. Instead of paying your landlord every month, you will be paying off your mortgage. This allows you ...
Canada’s Economic Response Plan
VIP Condos Toronto sincerely hopes that you and your loved ones are remaining safe and healthy throughout this difficult time. In recognition of the extraordinary circumstances in which we now find ourselves, the Government of Canada has taken action to lessen the impact of the crisis on families and individuals. We have taken the liberty of providing information regarding the programs and incentives that ...
Condominiums: A Buyer’s Guide
With every passing year, condominiums make up a greater percentage of the Greater Toronto Area's housing growth. While condominiums are normally thought of as luxury apartments in high-rise buildings, they are technically a type of homeownership rather than a physical structure. There are two main traits of condo ownership: Residents own both their individual unit as well as a portion of all shared features ...
House Hunting Mistakes
For some, house hunting and the process of purchasing a new home can be a wholly unfamiliar process. This can lead to mistakes-especially for first-time buyers. In order to help avoid any unwelcome issues, VIP Condos Toronto has compiled a list of some of the most common house hunting mistakes buyers can make: Know What You Can Afford. Before starting your search, make sure ...
