Taxes On Selling A House | SearchHomesinGTA.com Blog

Monday, April 24, 2023   /   by Matthew Tamburello

HomeSellers & HomeBuyers: GTA Housing Market Update = Intense Competition & Rising Prices!

Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
The Greater Toronto Area (GTA) housing market has seen a surge in buyer competition, as March 2023 statistics show a tightening market. Consequently, the average sale price exceeded the average list price for the first time since May 2022.
Toronto Regional Real Estate Board (TRREB) President Paul Baron confirmed this growing competition in various GTA neighbourhoods. According to consumer polls, the demand for ownership housing will likely grow this year. Furthermore, first-time buyers are expected to lead the recovery as average rents approach the cost of property ownership.
Sales and Listings Overview
In March 2023, GTA REALTORS® reported 6,896 sales through TRREB’s MLS® System, a 36.5% decline compared to March 2022. However, sales grew on a month-over-month basis in both actual and seasonally adjusted figures. New listings also decreased year-over-y. ...

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Monday, April 3, 2023   /   by Matthew Tamburello

HomeSellers & HomeBuyers: What You Need To Know About The Recent Foreign Buyer Ban!

Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
This week, Deputy Prime Minister and Minister of Finance tabled the second budget of the 44th parliamentary session, “A Made-in-Canada Plan”. This budget is heavily focused on measures to address the cost-of-living crisis, provide inflation relief, invest in public health care, and build Canada’s clean economy.
The budget followed an announcement of amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Act, on Monday, March 27. The Canadian Real Estate Association (CREA) has been actively lobbying for changes to the prohibition since it was announced.
The announced amendments include:

Enable more work permit holders to purchase a home to live in while working in Canada. Amending the exception for temporary workers to enable work permit holders with 183 days or more of validity remaining on their work permit or work! ...

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Monday, January 23, 2023   /   by Matthew Tamburello

Empty Nester: How to Sell the Place You Call Home!

Courtesy of:
Matthew Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
"The last thing you need are unbudgeted financial obligations cropping up hours before you take possession of your new home."
Are you an Empty Nester who needs a home for the future? Is it time to downsize or to move into another home more suitable for your glorious retirement years?
Like thousands of home sellers, you may discover that after years of non-stop child traffic in and out of your doors, toys on the floor, music floating throughout, you can suddenly hear a pin drop over the quiet hum of the refrigerator. Your rooms are filled with pictures and memories of this wonderful time in your life, but there are many empty rooms gathering dust now that your children have moved on. The freer years ahead are exciting ones to look forward to, and it may be time for you to move as well.
If you find yourself in this situation, you're in vast and good company. What this means i. ...

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Monday, January 2, 2023   /   by Matthew Tamburello

HomeSellers & HomeBuyers: 11 Things You Need to Know to Pass Your Home Inspection!

Courtesy of:
Matthew Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
"According to industry experts, there are at least 33 physical problems that will come under scrutiny during a home inspection when your home is for sale. Here are 11 you should know about if you're planning to put your home up for sale."
Homebuyers Want to Know Your Home Inside and Out While homebuyers are as individual as the homes they plan on purchasing, one thing they share is a desire to ensure that the home they will call their own is as good beneath the surface as it appears to be. Will the roof end up leaking? Is the wiring safe? What about the plumbing? These, and others, are the questions that the buyers looking at your home will seek professional help to answer.
According to industry experts, there are at least 33 physical problems that will come under scrutiny during a home inspection. We've identified the 11 most common of these and, if not identified and deal. ...

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Monday, December 19, 2022   /   by Matthew Tamburello

HomeSellers & HomeBuyers: 6 Mistakes to Avoid When Trading Up to a Larger Home!

Courtesy of:
Matthew Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com

". . . you have to sell your present home at exactly the right time in order to avoid either the financial burden of owning two homes or, just as bad, the dilemma of having no place to live during the gap between closings"
Unlike the experience of buying a first home, when you're looking to move-up, and already own a home, there are certain factors that can complicate the situation. It's very important for you to consider these issues before you list your home for sale.
Not only is there the issue of financing to consider, but you also have to sell your present home at exactly the right time in order to avoid either the financial burden of owning two homes or, just as bad, the dilemma of having no place to live during the gap between closings.
Six Strategies
In this report, we outline the six most common mistakes homeowners make when moving to a larger home. Knowledge of. ...

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SearchHomesinGTA.com
Matthew Tamburello
Team Leader & Broker
Right at Home Realty Inc.
GTA & Surrounding Areas
647-697-6743

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Information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®. Copyright 2023 Last Updated June 7, 2023
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