By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

Ontario Land Transfer Tax Rebate Now $4,000

Ontario Land Transfer Tax Rebate Now $4,000

The Ontario Land Transfer Tax Rebate for first-time home buyers has increased from $2,000 to $4,000, effective as of January 1, 2017. To qualify, home buyers must be at least 18 years of age and be purchasing their first home. They must also be a Canadian citizen or permanent resident, and the home must be their principal residence.   This means that no Land Transfer Tax is paid on the first $368,000 of the purchase price of a home.   Whether you’ll use the rebate to pay down your mortgage, renovate your bathroom, purchase new appliances or pay your closing costs, the rebate is sure to be great news for first-time home buyers.   If you meet the requirements for the Land ...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

Almost Half of Ontario First-Time Buyers Could Be Delayed

Almost Half of Ontario First-Time Buyers Could Be Delayed

The latest edition of the semi-annual Ontario Home Ownership Index, released by the Ontario Real Estate Association, has revealed that the mortgage rules recently launched in October are putting a strain on first-time home buyers, because it requires buyers who have a down payment under 20% to qualify under a higher mortgage rate. According to the research, this could delay homeownership for almost half of Ontario first-time buyers.   “Our survey indicates that the new stress test will have a negative impact on first-time buyers’ ability to buy a home,” said the CEO of the Ontario Real Estate Association, Tim Hudak, in a press release. “It’s important to re...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

Make Moving To A New Home With Children A Bit Easier

Make Moving To A New Home With Children A Bit Easier

Moving to a new home is usually a pretty exciting time – aside from the actual packing up boxes and living heavy things, of course. But your new home might be bigger or nicer than your current home. Your new home might be in a great part of town with a beautiful backyard and an extra bedroom that’s going to make a great home office or nursery. These are all very exciting prospects – if you’re an adult.   Unfortunately, moving can seem pretty devastating to children, who might not really care about getting a bigger or nicer house. When they find out they’re moving, their first thoughts are usually going to be about everything they’re leaving behind, in...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

Buying A Home In The New Year? 4 More Things To Consider

Buying A Home In The New Year? 4 More Things To Consider

There’s a lot more to consider when buying a home than your credit score, making an offer and deciding what you need vs. want in a home. While the process of buying a home for the first time can seem overwhelming, your real estate agent is there to help guide you through the process. Here are four more things you should consider before jumping into the home buying process for the first time.   Hire a Real Estate Agent And Know What They Do   A real estate agent can be one of your best assets when it comes to the home buying process – and as the buyer, their services are free because they’re paid by the seller even though they work for you.   How Do Mortgages ...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

4 Things To Consider Before Buying A Home Or Cottage

4 Things To Consider Before Buying A Home Or Cottage

Buying a home or cottage for the first time can seem overwhelming, but it doesn’t have to be. Being prepared in advance by considering your options and your current financial situation can give you the confidence you need going forward. Set yourself up for success and consider the following:   Getting A Mortgage Pre-Approval   Getting a mortgage pre-approval is one of the most vital steps in the home buying process – and should take place long before you step into your first open house. A mortgage pre-approval will let you know what you can afford in advance, as well as let the seller know you’re serious when you make an offer on their home – saving time in...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

Legislation Proposed In Ontario To Regulate Home Inspectors

Legislation Proposed In Ontario To Regulate Home Inspectors

The Putting Consumers First Act, a private members bill, was introduced recently in Ontario. The purpose of the bill is to regulate home inspectors, among other things. The bill intends to create an authoritative body for the industry that would license home inspectors as well as deal with complaints and enforcement. Currently, home inspectors are not regulated in Ontario.   In addition to regulating home inspectors, the bill intends to ban more aggressive or misleading door-to-door sales like those for air conditioners or hot water heaters.   Contractors between consumers and contractors for things like home renovations would also be granted a 10-day period in which the consumers ...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

Buying Your First Country Home Or Cottage? Don’t End Up Surprised

Buying Your First Country Home Or Cottage? Don’t End Up Surprised

November is Financial Literacy Month, and coincidentally one of the biggest financial decisions and investments that most people will ever make is the purchase of a home. Being well-prepared for this investment and learning as much as you can beforehand will help you better understand the process, and even help you figure out what questions you should ask your real estate agent.   Read!   Make sure of everything by reading everything, such as the Agreement of Purchase and sale. This document includes important information like the closing date and clauses such as whether the sale is contingent on a successful home inspection. As mentioned, your real estate agent will be available t...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

First Time Home Buyer? Expect A Higher Land Transfer Tax Rebate

First Time Home Buyer? Expect A Higher Land Transfer Tax Rebate

The Government of Ontario says that as of January 2017, first-time homebuyers can expect to receive a rebate of $4,000 from the Land Transfer Tax, up from the current $2,000.   The first $368,000 of a home’s purchase price is exempt from the tax.   Tim Hudak, the CEO Designate of the Ontario Real Estate Association, said that, “Home ownership changes you for the better. It builds strong communities and stable neighbourhoods. A tax break for first-time buyers will give a lot of young families the leg up they need to get into homeownership. Premier Wynne and Minister Sousa deserve credit for taking positive steps to address affordability. It’s encouraging news for t...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

Before You Decorate Your Home For Sale During The Holidays

Before You Decorate Your Home For Sale During The Holidays

Lots of people love to go all out during the Halloween season, from decorations to candy and other spooky traditions. And, there’s certainly nothing wrong with that. But the requirements are a bit different when you’re selling your home in the fall, or at least around Halloween.   Decorating your home – should you?   If you absolutely must decorate your home for Halloween while it’s on the market, avoid going for scary (think gravestones, ghosts and skeletons). Instead, stick with decorating for the fall season itself with more tasteful pumpkins or corn stalks, as long as they look tidy.   Other decorations, like tasteful fall wreaths on the front door,...Read More

By: Ross McLean, Broker | Lucy McLean, Sales Representative | Peter Steele, Broker

How To Make Sure You Have The Best Lawn By The Spring

How To Make Sure You Have The Best Lawn By The Spring

It may seem counterintuitive but right now – fall – is the ideal time to perform some annual maintenance on your lawn to ensure it has the best chance for success come spring. By putting in the effort now, you will be rewarded with the healthiest, lushest and best-looking lawn later, which is especially helpful if you plan on selling your country home or cottage early next year.   Just follow these tips and you’ll be well on your way:  Don't stop mowing your lawn. Mowing your lawn is essential in the fall because you can use the shortest setting to ensure the grass blades are small enough to allow the sun to reach the most important parts of the lawn - the c...Read More