Wednesday, October 30, 2024 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker/Owner
Trinity Real Estate Consultants
647-697-6743
matthew@searchhomesingta.com
Investing in real estate is a more hands-on way of investing when compared to more traditional forms of investing, such as stocks, bonds, and mutual funds. Investing in real estate can be a great way to diversify your investment portfolio.
Unfortunately, there is no one specific answer to the question of how much it will cost you to invest in real estate in Ontario. If you are looking to invest in real estate in Ontario, you have many choices.
You can invest passively in real estate by buying shares in a Real Estate Exchange-Traded Fund (ETF), investing in a Mortgage Investment Entity (MIE), Mutual Fund(s), Real Estate Investment Trust (REIT), Syndicated Mortgages, buying units in a Real Estate Limited Partnership (LPs), or buying pre-assigned condos.
Or you can invest more actively in real estate by purchasing a home as your pri. ...
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Wednesday, September 18, 2024 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
Trinity Real Estate Consultants
647-697-6743
matthewdanieltamburello@gmail.com
Buying a home is an exciting process, however, if you are serious about purchasing a home in Toronto, you must consider closing costs and budget for them. You might be thinking closing costs cannot be that much why should I worry about them? For example, taxes, if you are a permanent resident or citizen in Canada, can cost 4% of the home’s purchase price if you are purchasing a home within the City of Toronto.
You will be responsible for paying the City of Toronto’s Municipal Land Transfer Tax (MLTT) and Ontario’s Provincial Land Transfer Tax (LTT). And if you are not a Canadian citizen or permanent resident, be prepared to pay the Non-Resident Speculation Tax (NRST) which is 15% of the home’s purchase price, in addition to provincial and municipal land transfer taxes. Do we have your attention now?
Now, that we h. ...
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Wednesday, August 7, 2024 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
Trinity Real Estate Consultants
647-697-6743
matthewdanieltamburello@gmail.com
One of the least enjoyable parts of buying real estate or property in Ontario, especially in the City of Toronto is the Land Transfer Tax (LTT). If you are buying property in Ontario, you will be responsible for the provincial Land Transfer Tax (LTT).
If you are buying property in the City of Toronto, you will also be responsible for the City of Toronto’s Municipal Land Transfer Tax (MLTT). Therefore, if you are considering buying real estate in Toronto and/or in Ontario, you will need to budget for paying at Ontario’s Land Transfer Tax and possibly even paying Toronto’s Municipal Land Transfer Tax.
This article explains what Ontario and Toronto’s Land Transfer Taxes are, how much they cost, how the Land Transfer Tax fees are calculated, who is responsible for paying them, who is exempt, and information for non-re. ...
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