- Is owning an investment property in Hamilton, Ontario profitable?
- New Homes For Sale In Niagara-On-The Lake | Home Buyer Tips
Are you thinking of buying a new home? Here's some top tips on new homes for sale in Niagara-on-the-Lake, ON.
Buying A New House Is Great News If You're Over 35 Years Old
While this isn't necessarily true anymore, once upon awhile the "over 40" buyer gets lucky and finds something they like while shopping around town. But, it does happen rarely and often these buyers find themselves in situations where they feel rushed into making a decision because they just aren't getting a good deal.
Before rushing into anything, consider doing your homework first.
Find Yourself An Agent Who Knows Your Area Well Enough
If you live outside of Toronto, finding yourself a great real estate agent who knows the area well will be critical to having a smooth experience.
Doing Some Of Your Homework On Real Estate Websites Will Help Save Time & Money Down The Road
When researching properties online, take note of which websites work best for viewing photos, reading floorplans and details about amenities/amenities. Also, research the location and surrounding areas to get an idea of prices for comparable neighbourhoods. You could save hours of searching through MLS listings to pinpoint your next ideal purchase.
Don't Forget About Mortgage Apps And Calculators
Mortgage apps on both smartphones and laptops allow homeowners to calculate monthly payments easily and quickly without visiting bank branches. However, remember that you should always consult with your mortgage professional to determine whether certain factors would affect the final loan amount.
When it Comes To Financing You Need One Person Working Together As Much As Possible
Even though many consumers believe they can go it alone, working together with other parties involved ensures a better result down the road. Whether you've got family members helping out, or your friend or neighbor offering their services you shouldn't underestimate the value in bringing someone along on your journey to buying a house.
Before heading over to pick up the keys, ask the seller to show you the property's appliances (washer /dryer), plumbing fixtures(bathtub/shower,) heating system(heating ductwork, boiler, furnace, radiators), roof and windows to ensure everything functions properly and meets your expectations.
- New Home Hamilton Buying 101
- If you’re considering selling your current property to purchase your dream house then this will be a great place to begin. In fact it’s often easier than finding the perfect property the first go around because you already have something to work from, but don’t stop reading just yet! There are some other things to consider before making the leap to sell and buy.
First things first; your real estate agent should be able to help point you in the right direction, they can also assist you in making offers on properties that meet your needs. They will be able to provide you information regarding market trends and the most recent listings available in a particular neighbourhood. If you aren’t happy with your realtor it could become quite costly and frustrating trying to find someone who fits your specific criteria. So don’t wait until after you’ve signed to get started. Your realtor can help you narrow down your options and make offers for homes that fit your exact requirements or will be willing negotiate on price to suit yours.
[IMAGE 1]: This image shows a typical view from inside your new home in Niagara-on-the-Lake,Ontario.
Second step; research your mortgage options carefully. A common mistake people make while searching for mortgages is assuming that they need to apply for them through the banks. While you certainly may qualify for bank financing, it isn’t always necessary. Banks offer loans based on the income level of the borrower, credit score and sometimes a combination of both factors. If you can afford your monthly payments without difficulty and you are confident you won’t defaulting on your loan, applying through a lender like Rate Supermarket will allow you to save a lot of hassle and potentially lower your interest rate. RateSuperMarket is Canada’s largest online marketplace connecting consumers with lenders and brokers. We make lending and borrowing simple and affordable and we are proud to say we’ve helped thousands of Canadians secure better rates for themselves and their families.
Third step; you must decide whether to use Private Mortgage Insurance (PMI). PMI is insurance provided by private insurers which guarantees payment of part of the outstanding balance on the mortgage and protects the lender against loss due to non-payment, early repayment, or bankruptcy. If you opt to pay the entire amount yourself you will be eligible for a higher APR on your loan. However it doesn’t necessarily mean that you will end up paying less overall because you still would also pay the premium.
[IMAGE 2]: This image shows the exterior of a newly constructed single family residence in Niagara-on-the-Lake, Ontarion.
Fourth Step: Make sure you’ve got everything lined up before going ahead. You may already have a buyer, be ready with an earnest money deposit, and/or have prequalified for a certain amount or range of mortgage amounts. But you don’t want to put anything off until the very last minute, especially if you do have a contract in hand. If you haven’t found a property to suit your needs or you’ve decided that you no longer wish to move forward with your sale, you should notify your real...
- When buying a new home in Ontario follow these steps
- Niagara On the Lake (formerly known as Stoney Creek), is often referred to locally as Niagra. Located 30 minutes north east of Toronto and just south west of Hamilton, this small town offers many recreational options including hiking trails; beaches; golf courses; horseback riding; swimming pools; outdoor skating rinks; parks & playgrounds; sports fields; museums; zoos; botanical gardens; theaters; restaurants; coffee shops; bookstores; galleries and boutiques. There is also something special happening every week during summer months including festivals, fairs, parades, fireworks displays, concerts, farmers markets & community events. During winter season enjoy local ski hills along with plenty of ice skating opportunities. And then there's the culture. Visit Niagara Falls first, but we really recommend trying Niagara-on-the-Lake instead. A perfect balance of contemporary city life while maintaining a strong rural heritage, the village feels like a cross section of old world Europe meets bustling America. One visit will leave you wanting more, which is reason enough to move here permanently. But even though the pace of living here seems slow, you won't feel stifled because there's always something going on...
To assist potential homeowners, real estate agents and investors searching for available properties in Niagara, I've compiled my favorite sources below to help you navigate the market.
This website provides listings of current homes listed through multiple listing services (MLS). MLSs allow buyers and sellers to search online databases of property information. Properties include details such as price, dimensions, square footage, bathrooms, parking spaces, garage, appliances/furniture, amenities and location. Find Homes For Sale
In addition to finding current homes listed through multiple listing services, we created www.FindHomesForSale.ca, Canadaâs most comprehensive home buying website. We provide comprehensive searches for: Homes Sold Since Last Year, Homes Under $100k, PreOwned Houses (for sale) and Foreclosure Listings. For those who wish to purchase pre owned houses, we provide additional services such as valuation reports, inspections, financing and title reviews. Our objective is to be the complete resource for people interested in owning their dream home!
www.HomeAndGardensOnline.ca provides the latest news on garden trends, plants, seeds and gardening tips. The articles cover topics ranging from soil care to pruning techniques. Garden enthusiasts can learn everything they need to keep their backyards beautiful. They'll discover plant recommendations and get tips on landscaping. Plus they can check prices on garden products, read product descriptions and browse gardening tools & accessories offered on our marketplace. Gardeners can find out which supplies are popular and how to use them effectively. If you're planning an upcoming project, this site gives you step-by-step instructions to follow for planting vegetables, flowers, shrubs & herbs.
Buyer Agents and Realtors® can quickly and easily post properties for sale, and receive detailed statistics on each post. Buyers can contact seller via email form without having to pay fees charged by other websites that charge $19 per posting. Once they view the ad, buyers submit bids electronically. When the buyer makes the highest bid...
- How to find Your New Hamilton Home or Condo
- According to Toronto Real Estate Board (TREB), Canada’s largest Multiple Listing Service reported record sales volumes across Greater Vancouver during March 2019. A total of 4,093 homes sold through TREB member agents, representing $819 million worth of properties exchanged. It was double the volume recorded during the same period last year—a result which many industry experts credit to rising interest rates. As mortgage lending becomes increasingly competitive across Canada, buyers in Metro Vancouver stand to benefit substantially from this trend—which could continue going forward. Buyers who purchase well planned luxury real estate will enjoy further benefits from higher interest rates—as lower borrowing costs equate to larger potential discounts on property prices.
Homeownership remains attractive for Canadian families—according to the OECD Housing Outlook report released earlier this year, homeownership rates reached their highest level since 2010. Over 3.1 million Canadians own their primary residence. For those seeking equity accumulation or wealth protection, residential real estate offers some of the most stable investments available today. However, while a lack of supply has created strong demand among first-time buyers, the affordability gap continues to widen significantly across regions including British Columbia, Alberta and Saskatchewan. According to the Bank of Montreal, high-income earners earning 300K CAD/year account for one quarter of the housing market currently; a figure projected to increase sharply over the next decade. Meanwhile, the national average price per square foot jumped 17% over 2018 to reach C$227.88—while inventory dropped 16%. In response to these trends, local markets like Hamilton, London and Kitchener in particular saw considerable increases in both active listings and asking prices.
Hamilton’s median list price shot 18.5 percent higher than the citywide average—its busiest February ever. Similarly, London’s average price soared 11%, marking the highest monthly percentage increase seen in the region. Both cities posted similarly impressive performances relative to the rest of Ontario. While other big centres like Windsor and Ottawa did gain traction in early 2019, the impact of recent tax changes made it impossible for them to match the momentum of the GTA’s hot spots. Across the province, home prices grew 2.2% year-over-year nationwide according to CREA. Prices increased 1.6 times faster in Calgary than they did elsewhere across Canada. The City of Toronto registered the lowest growth rate (-0.6%) largely due to weaker economic activity. Outside of Toronto, Greater Vancouver was outpaced by Greater Victoria (+4.6%) and Quebec City (+7.9%) during January.
Despite the uptick in Ontario house values throughout the nation, however, the Toronto area still boasts a distinct advantage over the rest of the country. Despite the significant rise in value, the cost of living remained roughly flat—particularly in areas like Waterloo Region, Guelph, Kingston and Peterborough. This combination represents a unique selling proposition for prospective buyers located outside of Toronto proper. Furthermore, despite the fact that GTA households saw annual gains exceeding 10 percent each of the past five years, only 20% of owners claimed their mortgage payment would be less following the sale. Among current owners, nearly 40 percent listed “downsize/move” as their main motivation for...
- Why is Ontario's Real Estate Market Booming?
- Buying a property you can live in isn’t always an ideal scenario. Especially when considering Canada Mortgage & Housing Corporation's recently released report entitled “Where will I be living in five years? 2018 edition".
While many people still believe buying a first home provides financial security, this belief does little to reflect reality, according to CMHC. The reality is many Canadians simply aren't able to find affordable housing options in desirable areas that meet today's standards of healthy communities. For example, the latest national statistics reveal only 4% of Canadian households own homes in urban centres like Hamilton, Ottawa or Kingston.
This leaves most homeowners without viable locations from which they can affordably purchase a reasonable sized place to call home. And, because people who rent tend to spend a higher proportion of income on housing costs than those owning their primary residence; renters often struggle to save enough to buy a down payment and pay mortgage payments every month.
To help address these issues, XONDO offers buyers an alternative approach to home ownership. Our investment model makes it possible for anyone to participate in real estate through a unique partnership structure. Investors earn returns while homeowners benefit from the stability of regular monthly repayments.
XONDO gives investors an attractive return by allowing them to invest in residential properties in the Greater Toronto Area and across North America, including Canada, United States, Puerto Rico and Mexico. We offer an array of housing types ranging from single family units and condos to townhomes and apartments. As long ago as 2011, XONDO was featured among Business Insider's 10 hottest startups and Fast Company magazine named us "Best Real Estate Startup Of 2014" -- proving the value proposition behind our business model.
So, what exactly makes XONDO different? Below are some key differences, along with benefits and risks associated with each:
1. Ownership versus Renting
Unlike other companies offering an online rental marketplace, XONDO actually manages investor investments and provides tenants with a stable source of consistent cash flows. Unlike typical landlords whose interests lie solely in collecting rents, XONDO helps ensure owners maximize market appreciation potential by investing capital in improving property amenities, renovating spaces, developing additional land parcels, or selling for resale. Through this structure, our partners enjoy both short term profits and long term growth possibilities.
2. A Shared Equity Model Versus Exclusive Tenancy
Another distinguishing feature lies in how XONDO works differently than traditional realtor models. Because XONDO operates under a shared equity financing arrangement, instead of exclusive tenancy agreements between owner/tenants, there exists no landlord / tenant relationship. Instead, it creates partnerships between individual parties interested in becoming homeowner / tenant (for the purposes of simplicity, we'll refer to these individuals as 'investors' and 'homeowners'). These relationships operate entirely independently and are structured to produce high yields through regular monthly rent installments.
Investment funds offered by XONDO go far beyond traditional lending criteria. By making available a diverse range of property types (from single families to multi family dwellings), as well as various geographic regions, XONDO is able to provide investors all around the world the ability to acquire quality investment properties, regardless of size or location...
- New Construction Investment Opportunities in Hamilton Ontario
- In Niagara-on-the Lake, Canada, real estate market history shows that property values have increased dramatically since 2014.
According to reports by National Bank Financial, property prices rose nearly 20% across the country in 2017. Property values grew most significantly in cities like Toronto and Vancouver which recorded double digit gains. On top of this trend, average house price in Canadian metropolitan markets reached $400,000 in November 2018 according to RE/MAX.
Niagara-on-the-lake saw significant growth in residential properties during the past few years. According t he Canadian Association of Accredited Mortgage Professionals, the total value of homes sold in Niagara-on-the-Lake rose almost 14% from 2016 to 2017.
For those who love living close to nature and prefer a quieter lifestyle than big city life, Niagara-on-the-Lake is known for being a beautiful small town located next to Lake Ontario.
It was declared as the official tourist destination of Niagara region in 2013, attracting visitors from around the globe due to its natural beauty and cultural heritage.
In addition to tourism, many people choose Niagara-on-the-Lake to live because of its affordable housing cost and proximity to work, school, shopping centers and hospitals.
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- Examining Real Estate Market History in Ontario
- Buying a home is always exciting but buying a new house or condominium is especially exhilarating in the community of Niagara-on-the Lake in Southern Ontario, Canada. Why? Because it will be entirely built according to modern building standards and regulations; designed to meet today’s needs while looking forward to tomorrow’s demands. It won’t just be “ready” upon delivery, this project will already provide you with many benefits. From being completely energy efficient and environmentally sustainable to having the latest technologies incorporated inside these structures. Buying a new house/condo not only provides peace of mind, and offers financial rewards but also enables you take advantage of some fantastic opportunities.
Niagara-on-the-Lake is a vibrant city located on the shores of beautiful Georgian Bay overlooking Toronto and Hamilton, which makes it a perfect place to live. Its unique combination of nature, culture and recreation offer something for everyone who wants to enjoy it. Located 30 minutes north east of Buffalo NY, 35 minutes west of Rochester NY, 45 minutes south west of Detroit MI.
- Getting approved for your New Home Purchase in Hamilton, Ontario
- If you ask most real estate professionals, they will tell you buying or selling properties are risky business. After all, no one is immune to market downturns and recessions. But there are ways to avoid these risks while getting the maximum return on investments. For example, investing in the purchase and sale of properties gives you control over your capital gains. And unlike other types of income opportunities which fluctuate greatly according to inflation, this type of earnings are stable because they depend upon the price of the underlying asset rather than consumer prices. So whether you buy, rent, sell, hold, or invest, these tips should improve the chances of making good returns on your property portfolio.
1) Investing In Property In Niagara On The Lake
First things first; why would someone decide to spend $200k+ USD on something like a house in Niagara-On-The-Lake, Ontario? If I was to answer this question, I would say that people who live or work in Toronto often end up relocating outside of Canada. Or perhaps those individuals prefer living close enough to their office but far away enough from them, allowing them easier accessibility to shopping malls, entertainment venues, restaurants, schools, parks, etc.. Regardless if you are in Toronto or another city, the proximity to quality education options and recreational outlets makes Niagara attractive to Canadians across North America, especially since they can save thousands of dollars per month commuting back and forth.
Another factor in my opinion is the fact that many Canadians feel comfortable and secure in this area with its safe streets, clean environment, and friendly residents. These factors often contribute to the sense of community living among locals. However, some homeowners still find themselves having issues living in Niagara-Ontario despite being relatively content or happy in their surroundings. One common situation involves people who move out of cities such as Toronto and head towards rural areas to enjoy nature, fresh air, quietness, etc… Yet after a short stay, they find themselves frustrated with the lack of amenities and services offered near their homes. They then begin searching for better places nearby to settle down and raise a family. As such, a few investors have decided to capitalize on the demand by renting condos/houses or building single detached houses in different parts of Niagara-Ontario as well as neighboring regions. Many buyers have reported feeling satisfied with their purchases once they moved in, although some may be regretting certain decisions made due to unforeseen circumstances. Some owners have gone ahead and sold their units, only to realize later that they could have had a higher rate if they’d waited longer. Others have ended up losing hundreds of thousands of dollars simply because they chose the wrong location based on misinformation provided by agents or brokers.
2) Buying A Condo In Niagara-On-The-Lake (2020 Version)
For anyone thinking about buying a condominium unit in Niagara-Ontario, it’s essential to do your research beforehand. While there are plenty of listings available online, it’s important to verify information before making any transactions.
Here are several points worth mentioning regarding the latest updates to your investment decision: First of all, it’s always wise to consider whether or not a particular project is financially viable...
- What makes Xondo Ontario's Most Convenient New Condo/Home Buying Platform?
- New homes have become increasingly popular options for homeowners in Canada during this past decade, thanks to rising prices in older housing stock coupled with stagnant wages across other sectors of the economy.
According to government statistics provided by Statscan, Canadian homeownership rates increased steadily through the 2000s but saw little growth since then. For many Canadians, especially millennials, owning a house was no longer just considered a way to purchase and secure real estate assets; ownership was associated with prestige and personal wellbeing.
Today, however, Canadian mortgages are typically smaller than ever due to lower property valuations paired with higher interest rate expectations. A study published by RBC Economics revealed nearly half of respondents would struggle to pay back mortgage debt after ten years without selling.
In addition to affordability concerns, low household net worth remains another deterrent for buying a first family residence. According to Statistics Canada’s Survey of Financial Situation released September 2016, only 15% of households had $100K+ savings held inside RRSPs and TFSAs—a drop of 3 percentage points since 2013.
These trends, among several others including high demand, relatively scarce supply and skyrocketing land prices, combine to form what some experts predict will be an attractive entry point in the market for both buyers and investors seeking to capitalize on the nascent trend.
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Xondonline.ca's unique approach to realestate investing offers our clients and potential customers one convenient place to discover everything they'd like to learn about purchasing a new home in Ontario, including price & availability, schools, amenities, neighbourhoods, walkability score, transit accessibility...etc. We take pride in being a resourceful source of information when people ask us "Where should I buy?"
Here's Why Our Service Is Different From Other Real Estate Websites and Resources Out There:
1️⃣ Unlike most other websites/resources online which provide generic information about various aspects of the industry, we're always adding useful content specific to Ontario, specifically aimed towards prospective homeowners/investors who'll soon be searching for a nice place to settle down and live.
2️ Ⓡ We've built our website to feel friendly and inviting to our visitors because unlike those sites, our entire focus isn't pushing products/services. Instead, we aim to help inform them in finding a suitable location to call home.
3️ Ⓥ All the articles featured on Xondonline.ca come straight from third party research sources. By providing links to these reliable institutions, we hope we can bring better relevance to our readers' queries while making life easier for everyone concerned.
4️ Ⓣ Being a locally owned business founded by locals, we understand the nuances of living and working in North America's largest province. Our team members have spent countless hours visiting every neighbourhood in Ontario, gathering insight from fellow residents, business owners and professionals. This helps us offer the most comprehensive, accurate information when helping our clients find the perfect fit.
5️ Ⓤ Xondonline.ca strives to present the latest available data and reports on realestate investing opportunities in Ontario & nearby regions around Toronto. We make ourselves accessible via email, phone calls,...
- How Xondo makes Home Buying & New Construction Investing in Hamilton Easy?
- What makes Niagara-on-the-Lake special? We love this region like no other place in Canada or North America because it combines nature and lifestyle — both indoors and outdoors. A short drive away from Toronto and close proximity to Hamilton and Buffalo provide quick commuting options and convenient places to live.
We believe these factors help explain why people continue to move to the area despite current housing prices being well below average. While buying a home in the GTA isn't cheap, it's still less expensive than comparable homes in most parts of North America. There are many benefits to owning a house in a city centre rather than in suburban communities far outside of town centres, including better schools, easier commute times, shorter driving distances and fewer traffic jams due to higher population density.
But it's more than just location; Niagara-on-the-Lake offers everything one could ask for in terms of recreational opportunities. From golf courses, parks, outdoor shopping malls and restaurants, residents get plenty of entertainment value while enjoying the stunning beauty and pristine lakeshore scenery. Plus, the community boasts dozens of museums and galleries for art enthusiasts as well as several annual cultural festivals which draw tourists from across the globe every summer. For those who prefer quieter living, Niagara-on-the Lake offers some wonderful cottage homes perfect for families and retirees alike.
Of course, none of this would be possible without property development and affordable real estate. So whether you're looking for a large family compound for kids' play and recreation or something smaller to put your stamp on as a buyer and seller, we've got you covered. Our team will work closely with clients who are interested in investing in new constructions, condos and single family dwellings to find properties that meet their needs and expectations. Whether they seek a detached home, semi-detached or rowhouse style unit, XONDO provides a full spectrum of search tools, services and expertise to ensure each client receives exceptional service. And since XONDO prides ourselves on transparency, we'll disclose and discuss exactly what we offer along with our fees upfront to avoid surprises in the long run.
- How To Make Money On a New Home or Condo Purchases in Hamilton, Ontario
- When searching for a property to purchase in an area like Niagara-On-The Lake, Ontario, it pays to be proactive. Start early and be ready for a long search period and possible delays due to lack of availability during busy seasons. If you are planning to invest in this beautiful town, then you must take care of some details beforehand. We will walk through everything you need to consider prior to moving forward.
What Is the Average Price Range When Buying A House / Apartment in Ontario?
In Ontario, prices vary depending on location, quality of homes and type of neighbourhood they are located in. However, the general average price range for buying real estate across the whole province is $500k – $750k. Prices are higher than other parts of Canada, but still reasonable if you look locally. If you intend to buy in the same place every year for several years, you could easily save hundreds per year in living costs just by investing in your own Toronto rental.
Should I Sell My Current Property & Buy Again?
If you sell your current house and decide to move again, then this decision depends largely on personal preference, timing and market conditions. Many people find value in maintaining a stable residence while working towards retirement and saving for down payment. Others prefer selling properties and starting over once the kids leave home. There's no reason why you cannot continue renting until you feel confident enough to put the proceeds back into a new project. The choice really boils down to personal preferences and priorities.
How Much Will I Need For Down Payment When Buying A New Construction Home Or Condo In Ontario?
Ontario offers different programs available to help individuals finance home ownership; however, these options come with various qualifications and rules, which can increase the complexity of getting approved. Some of them include:
1. Mortgage insurance program – requires monthly payments towards mortgage principal plus interest in addition to regular homeownership expenses such as maintenance fees, taxes, utilities etc...
2. Real Estate Purchase Tax Refund program – applies only to first-time homebuyers who bought their primary residences less than 2 years ago and sold their existing house.
3. Mortgage stress test – used to determine whether borrowers qualify for financing under certain circumstances.
4. Guarantor program – allows family members to act as guarantors of a borrower's loan and provide security against risk associated with borrowing.
5. Low Income Housing Program – provides financial incentives to builders, owners and developers for building affordable housing units.
6. Non Residential Building Loan Interest Rate Reduction Program – grants reduced variable rate loans for eligible commercial construction projects to reduce cost of capital incurred by lenders.
7. Buildertax Credit – tax credit provided for residential renovation projects up to $25,000.
8. First Time Buyer Grant – provides assistance for non-resident buyers of single detached houses priced below CAD$400,000.00
9. Second time buyer grant – provides assistance to purchasers who already own their previous houses for resale purposes.
10. The First Choice Homes Trust Fund – created to promote the sale of owner occupied properties for families looking to establish roots near public transit.
11. Affordable Rental Assistance Program – provides financial...