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New Pre-Construction Homes & Condos Richmond Hill ON

Is owning an investment property in Richmond Hill, Ontario profitable?
New Homes For Sale By Area In Richmond Hill, ON | Home Searching Tips & Advice For Your Next Purchase Are you planning to invest in a real estate property this Spring? Whether buying or selling, finding the right Ottawa Real Estate agent who understands local market trends will help ensure you secure the deal that’s most suitable and beneficial for you and your family. Here are some things to consider when searching for a good buyer’s agent in Richmond Hill, Ontario: 1. Do they understand Canadian Property Rules And Regulations? A reputable Toronto Realtor must be familiar with Canada’s Residential Land Transfer Tax rules, Income tax rates, Mortgage insurance regulations and many other government requirements that affect buyers today. An effective REALTOR should also know which areas offer lower taxes, better schools, great shopping experiences, and more affordable living opportunities. 2. Understand Local Demographics. Find a realtor whose client base includes people like YOU. If you live locally and already own a house, find someone familiar with current values and sales activity in surrounding townships and neighbourhoods. Your REALTOR should be able to provide information on similar properties sold nearby during recent months as well as details regarding nearby school districts, parks, recreation centres and community events. 3. Is They Experienced When Selling Houses In Your Community? Asking questions about whether the REALTOR was experienced working with sellers in similar markets will get you answers fast. Ask them why did clients chose their services over competitors, or why certain areas seem harder than others to sell homes in. Be wary of agents that claim to specialize exclusively in ‘Richmond Hill Property Sales”; only an expert in your specific neighbourhood would truly understand the unique attributes that distinguish your area from others. 4. Does Their Website Feature Up-to-Date Information On Current Properties Available For Sale? Make sure that every listing posted online contains complete contact and description info, including listing price, square feet of space, number bedrooms/bathrooms, garage parking availability, and photos of the exterior and interior spaces. Also take note of recent changes to listings, and ask your REALTOR for updates whenever you see them. 5. Can We Verify Their Client Base? The vast majority of Canadians use Facebook as their main source of communication, making it essential to check references and reviews provided via sites like Zillow, Trulia, Redfin, RealNetworks, Yardi Matrix, etc. These websites allow homeowners around the world to post reviews of their favourite REALTORS. Check to see if your chosen broker boasts positive ratings and testimonials on these consumer rating websites and verify that he has maintained his professional reputation through active participation in relevant industry organizations. 6. Ask About Other Services Provided Besides House Purchases. Most REALTORs charge additional fees in exchange for specialized service offerings. Some common extra charges include mortgage loan preapprovals, inspections, staging and decorating assistance, negotiation coaching, relocation counselling, and property management. The average fee charged per transaction for each of these added items ranges anywhere from approximately $200-$1000 depending upon the level of complexity involved. 7. Ask Yourself Why You Want To Work With Them. It goes without saying that choosing...
New Home Richmond Hill Buying 101
Homeownership is a big decision but investing in real estate will yield higher returns than most other investments like mutual funds and stocks which generally offer lower yields during periods of market turmoil. Before deciding whether or not invest in a new house purchase or condo unit, consider yourself as well informed as possible. If you aren’t ready to take action yet it makes little sense spending thousands in rent when you could be sitting on land that generates cash instead. To get started on this journey read the following questions first; When should I sell my current property? What type/style home am I seeking? Have any renovations already taken place prior to selling? How long does the average sale take? Which areas of Toronto hold the highest potential return and why? I would recommend starting with an agent or online search engine who offers both residential sales and commercial properties. These agents and websites usually charge fees however they often provide high quality service and information. They typically won’t try to rip you off. If you decide to proceed with an agent, find someone experienced because many times sellers use unlicensed agents while buyers prefer licensed ones. A good agent will help answer questions regarding the area and surrounding communities. An educated buyer or seller knows exactly how things work and are able to spot problems early on (e.g. roofing issues). Next ask the following question; Do the neighbourhoods around me change quickly? Will I still enjoy them after moving? This helps you determine the location of your new neighbourhood, especially if it isn’t planned out properly from the ground up. Take note of anything unique about your community and keep those facts aside. Your family will thank you later. Are there schools nearby? Is it safe? Do people tend to move away? Make sure your children attend school nearby regardless of distance. Check out the local amenities offered near the housing area (schools, library, park, playground, shopping centres), along with traffic patterns. Find out everything you can about the neighbourhood before making any decisions concerning living space. Find out the cost of homeowners insurance before signing on any contract. Insurance prices vary greatly across Canada so be aware and understand the costs associated with insuring a residence. The better priced policy you buy the less expensive your monthly premium. Also check the deductible amount which determines the percentage of losses covered. After having found homes that fit all your criteria, contact several brokers and see how each handles different situations. Some handle large numbers of transactions daily while others specialize in individual deals. Ask lots of questions until you feel comfortable choosing your broker. Remember it takes some experience managing multiple deals so finding the correct match is vital. Be cautious of anyone requesting upfront payments, especially during peak season. Some “brokers” may simply be trying to lure customers in then steal their credit card info. Once you choose your brokerage ask if they offer a mortgage preapprovals department. Mortgage approval rates will increase once your offer gets closer to being accepted by lenders. Keep asking questions until you find a lender that fits your needs and gives you honest responses. Don’t get discouraged if the banks respond slowly since waiting for the perfect person to come forward is a common...
When buying a new home in Ontario follow these steps
In this edition of “How to Find Your Next New Ottawa House Or Condominium”, today I am going to focus on what you should be doing BEFORE actually buying your house or condo. If your timing is off, then you could end up paying way overpriced for something you thought was cheap but turns out has hidden costs down the road. So what exactly does that mean? Well … When choosing whether to buy a newly constructed homes in Richmond hill you shouldn’t be choosing just because they cost less than similar existing properties available for purchase you should be thinking about the long term benefits of having something brand spanking new versus the potential problems that will surface after completion of said project. Here are some things you need to consider before deciding which path you would prefer taking; What’s the size, shape, location & amenities of the property being considered. Does the builder/developer offer financing assistance? Does he/she allow buyers to get pre approved before proceeding with the purchase contract? These are questions that most developers fail to answer, especially since they often rely on a bank loan to fund the transaction. And why wouldn’t they, banks are happy to lend people money who seem like good risks. But once completed these houses rarely pay back anything close to what they borrow unless you are lucky enough to live in one of those rare condos designed specifically for short stays only. So you need to find someone willing to finance your new house because if you cannot afford to own a nice place in the city chances are you won’t be able to manage an ugly little box outside town either. A mortgage calculator helps ensure that everyone understands what their monthly payments will be prior to making any decision. [IMAGE: Mortgage Calculator For Example ] Do you feel comfortable knowing who owns the building? Do you know the history of the home owners association or management company? Will you be dealing with them long after you move in? Is there any evidence that the developer isn’t living his life inside his business model? There’s nothing worse then finding yourself dealing with someone else while trying to navigate through a maze designed for another person. Are the building materials of sufficient quality? Can you see that the roof shingles are made well and the siding looks solid? Have you seen photos of the basement floor? When you walk around the outside of the structure has everything looked after properly ie.. Has the gutters been cleaned regularly lately? Was there ever leaks found during the inspection stage?? These are all items that you should ask during your initial visit to the premises. Most importantly though I recommend you make arrangements with a professional inspector beforehand. They can save you tons of stress and trouble down the road. [IMGE: Inspection Report Sample] Will your new Richmond hill home be ready in time to put on the market? If not you probably better wait until 2018 instead of spending thousands upon thousands of dollars on renovations that are supposed to happen 2 years down the line. You really have no idea how fast the renovation process goes. Some homeowners decide to renovate their existing properties themselves and the projects take 5+ years to complete which would leave precious few options once their original project...
How to find Your New Richmond Hill Home or Condo
Richmond Hill real estate market was booming back in 2018. But what does this mean for home buyers who are interested in buying property? If you've always wanted to buy a house but couldn't find anything suitable near Toronto or Mississauga areas, then you should consider investing in a Richmond Hill realty project instead This city boasts some excellent schools, amazing parks, beautiful community centres, well established business opportunities, great shopping options and plenty of family friendly places to hangout after work. All these factors combined together will definitely help you get the highest return on investment possible. The fact that prices continue to rise, especially during 2019 proves that the demand for homes in Richmond Hill continues to be high. But why is Ontario's real estate sector thriving again? And how to invest in Richmond Hills' real estate? We take a closer look... 1). Canada housing boom is finally happening (and Richmond Hill is part of it!) Since 2008, Canadian government cut interest rates in order to encourage consumers to borrow more money and spend. As result, many families had enough cash to pay down debts and purchase homes. In addition, Canadian economy recovered quickly thanks to strong job growth and increased wage levels, leading people to feel confident enough to go mortgage hunting once again. 2). Rising incomes. Canadians spend almost 50% less than Americans on groceries each week, meaning they're able to save a lot of extra income for other priorities like mortgages and vacations. 3). Strong population trend. According to Statistics Canada, the national household debt level decreased by $8 billion since 2013 while Canadian average disposable income grew steadily every year from 2014 to 2017. So far so good! 4). Mortgage rules changed. With the latest changes introduced in October 2016, Canadian banks no longer required borrowers to show proof of stable jobs. Also, lenders started giving priority to first time sellers of properties priced around 3 times the median price in a neighbourhood. Both those policies made home ownership much easier and cheaper for many Canadians. 5). Millennials move to cities. Young adults are moving away from big urban centers and heading towards suburbs and smaller towns, making the latter attractive investments in terms of real estate. A recent report suggests millennials prefer living close to nature and a vibrant local scene rather than busy downtown cores. Plus, most millennial parents wish for their children to experience small town life. 6). Rental vacancy rate hits record lows. The overall rental market in Canada experienced significant improvement in early 2020 due to rising rents, falling vacancies and increasing demand for rentals across North America. 7). Buyers become more educated. Thanks to technology improvements, homeowners are becoming increasingly aware of their rights when selling their properties on the secondary markets. They understand the importance of asking questions during house hunts, negotiating fair sales contracts and taking care of post sale issues properly. So, what's next for the Richmond Hill housing market? Well, according to a study conducted by Royal LePage in June 2020, there seems to be a shortage of available units in Richmond Hill's neighbourhoods. This could possibly lead to higher home values in certain parts of the region. However, experts warn against paying attention only to prices without considering other factors. For example, if you bought an apartment building in 2012 and...
Why is Ontario's Real Estate Market Booming?
If you’ve ever dreamed of owning a beautiful house in Canada, then you should consider buying a newly constructed property. It offers many benefits including better security than older properties because they are newer and built under modern regulations requiring stronger materials and designs. For this reason, people buy them faster than old ones. Another benefit is that these homes come with lower maintenance costs due to the fact that no repairs will be required since most of the house was just recently finished. If you live near the city centre or close enough to parks like Queens Gardens Park, Old Mill Road Community Association Park, or West Side Leisure Centre, investing in a new house would definitely offer great returns. This guide gives a step by step overview of how you could get started as well as some basic financial information regarding real estate purchases. We break down exactly which type of housing purchase suits each situation, from single family dwellings to condos, semi-detached townshomes, detached homes, and townhouses. These types of real estates usually feature different prices depending on the area. As soon as you decide upon the type of place you wish to purchase, you must first figure out the square footage of the unit you prefer to acquire. A standard size for houses are 1 bedroom units ranging anywhere from 800 sq foot to 2200+. Condo units tend to be larger which generally range from 900 to 1200+sq feet. Most areas allow buyers to select either high ceilings or wide balconies while others have smaller apartments with only parking spaces provided. We go through the details of how one goes about choosing the perfect house or condo in Toronto, Ontario. Once you determine the type of place you desire, you are able to narrow down choices according to location, amenities like pools and gyms, school districts, and proximity to work places. There are several factors to keep in mind when shopping around. One of the things that matter greatly is the distance from schools, community amenities, transportation routes, and job sites. Other considerations are whether or not it has central air conditioning and heating, fireplace options, garage space, or basement storage. All of these aspects influence price ranges as well. When it comes to financing, you should check with a bank representative beforehand. They will help you find loan programs that fit your needs, especially if you work full-time or run small business. When deciding on a mortgage provider, ask about specific terms such as amortization period, interest rates, points paid, prepayment fees, and prepayment penalties. Also pay attention to the amount offered to you as well. Lenders try to attract borrowers who have good credit ratings, strong incomes, stable jobs, ample savings, or other assets. However, you still have alternatives if none of those items applies to you. For instance, there are government backed loans available which include mortgages insured by the government against defaulting payments. Additionally, banks often provide alternative loan deals such as zero percent fixed rate mortgages as long as you maintain certain loan criteria. It pays to do your homework when searching for a lender and finding a deal that matches your wants, needs, and lifestyle. We explain everything involved in making a decision on which home or condo would be the greatest match for you. Whether you...
New Construction Investment Opportunities in Richmond Hill Ontario
In order for us to be able understand the current market state, we have decided to take a closer look at some of the past events that impacted this market since 2018. We will cover these below: 2018 was considered a great year for real estate investors due to many factors including strong growth rates across Canada which saw record numbers of people purchase properties, especially condos, in Toronto and other urban markets. Another factor influencing the housing market was the increase in interest rates after they started rising in January 2019. Since then, mortgage payments rose significantly but still remained affordable for most Canadians who purchased homes during this period. Additionally, the Canadian dollar continued increasing against U.S. dollars leading buyers to consider buying property outside of North America. All in all, this led to increased demand in Canada while keeping prices steady despite higher costs. As mentioned earlier, Ottawa experienced similar trends. Another interesting event took place around the same time in 2017. After the federal government announced changes regarding the tax treatment of capital gains made through investments, there appeared to be a slight dip in sales and price increases. However, due to the large amount sold and purchases made in Ontario, a significant correction did not occur until late 2018. During this time, the Ontario Government introduced new regulations making it easier than ever to own property in the province. These measures include allowing first-time homebuyers to get mortgages without paying down pre-approved offers, providing funding assistance programs, improving accessibility for those living with disabilities, and making it simpler for homeowners to transfer equity from their rental units. This past March, Canada Mortgage and Housing Corporation (CMHC), Canada's national housing agency released updated figures showing an overall positive trend for the Canadian housing market. According to CMHC numbers, residential building permits reached 791 thousand nationwide, representing 10 percent growth over the 12 months prior. Meanwhile, single family dwellings accounted for 61 percent increase in orders versus the previous year. Furthermore, the average selling price of detached houses was $904 per square foot, marking a 3.6% rise over the past 2 years.[2][3]. Although these statistics show a small decrease in house values in certain parts of southern Ontario like Hamilton, there is no doubt that the average price in the region remains above the national mark. [4] Looking forward to 2020, experts predict that the trend towards high end housing continues to strengthen. Experts believe that this growth in value could lead to further declines in prices in areas that had seen rapid appreciation, as well as other cities in the Greater Golden Horseshoe area. For example, the Greater Vancouver Region has shown signs of slowing demand due to the lacklustre economy. However, according to CoreLogic's latest forecast report, the region is predicted to experience a 5.5 percentage point annual rate of gain in home prices, continuing at 0.7%, compared to the 1.8% recorded the quarter before. While analysts expect this upward trajectory to continue, there is some uncertainty surrounding whether or not there is enough supply to keep pace with demand.[15][16][17][18][19][20] Websites & Apps Used: Zillow, Trulia, Realtor.ca...
Examining Real Estate Market History in Ontario
If you would like to buy real estate in Toronto in the near future, then this post will show you exactly how to get the approval to purchase a property in the city. We go through some of the things you should consider while buying your house including; mortgage type, down payment amount, financing options available, appraisal fee to be paid and other factors involved. Most importantly, you'll learn which areas offer better value, depending on your needs. If possible, try viewing houses listed online via websites like Realtor.ca, Trulia and Zestimate. Make sure to check out nearby schools like Carleton University and Queen's University along with local amenities such as parks and grocery stores close to you. Once you have found a few potential homes, contact the listing agent to book a showing. When choosing who to work with, ask questions pertaining to price range, location, home size, renovation experience and whether they use an MLS Listing Agent. There are many agents out there working independently but if you have specific requirements regarding these aspects, find someone willing to accommodate them. Don't forget to bring all required documents like credit report, bank statements, your own financials plus pay stubs or W2 forms if applicable. For those that prefer to invest in a condominium instead of single family dwellings, condos typically cost less per square foot since they're smaller than detached residences. Condos come with shared common spaces or amenity fees though most tend not to have parking stalls. They are often located further away from shopping centres, transit lines and restaurants however condos generally provide higher quality living space and better long term rental rates. Condo prices vary widely across Canada, ranging $350-$1000 psf on average. Depending on your lifestyle choices, you could spend anywhere from $50k-$250k+ on a typical 2 bedroom condo. It pays to shop around and take a good look at properties in different neighbourhoods before making a final decision on one particular residence. Many people end up spending a bit extra because they weren't careful enough to see and understand certain details during negotiations. Be warned that if you fail to act quickly, you risk losing your house to some shady characters before getting approved and closing. Also note that the longer you wait to apply, the greater the chances of being turned down due to stricter lending guidelines. [IMAGE: Photo of House Showing ] In order to become a homeowner faster, avoid putting together a large downpayment at once, particularly considering interest rates are currently lower than ever. Instead, spread your deposits over several months. While it won't save you in the short run, doing so ensures you'll still qualify for favourable terms on a loan and saves you money overall. A lender will expect you to repay a larger portion of the total cost in the early stages of repayment to ensure no late payments occur. Your monthly repayments will drop significantly after just a couple years and you can save thousands of dollars in interest payments during that period thanks to government support programs like PMINIS and HELOCS. Once you've decided upon a deposit amount, talk to an independent appraiser beforehand to obtain a fair market valuation on your chosen residence. An appraisal can help to determine how high on the housing ladder you wish...
Getting approved for your New Home Purchase in Richmond Hill, Ontario
If you ask most people about investing in real estate today they would say yes; but for investors who already own real estate this answer will be no because if you invest real estate you must sell first! In order to become a landlord in Canada, you must get a license, which costs approximately $500 dollars per transaction, plus another thousand dollars for every rental unit you wish to operate under a different tenant. When buying commercial real estate, taxes can cost you hundreds of thousands of dollars annually depending on the size of your business and location. For example, I bought my current apartment building for $150k cash, after paying off all other debts including mortgages at 3% interest per annum, tax and insurance, and then had to pay for renovations myself to bring the units up to minimum standards. After spending several months renovating each floor, I sold the entire building for $300K above asking price, netting me around $75K profit. But I was lucky; many landlords lose millions of dollars each year because they are unable to find tenants willing to occupy vacant premises. And finally, most landlords find themselves stuck in a vicious cycle whereby they spend huge amounts of time doing everything possible to attract potential renters only to see them pass them by because it just wasn't worth their while to try, and thus the vacancy rate remains high causing further financial loss. To break the deadlock, it's best to rent out properties rather than buy them outright. There are numerous ways to achieve this end, some cheaper than others. But before getting started you should carefully study the rules and regulations surrounding renting in Canada since these vary greatly among provinces and municipalities. Here are the things you'll need to consider: Rentals What type of rentals do you want? Apartments, duplexes, triplex? Do you prefer living in close proximity to family or work? Or perhaps you're ready to take the plunge and move far away. Regardless of the type of residence and neighbourhood preference, your decision has to address a few key questions: How long will you live there? Renting apartments for longer periods of time increases the likelihood of attracting qualified renters willing to commit to tenancy agreements on fixed terms. For example, it makes sense to purchase an apartment in Toronto, Ontario because if your lease term expires early enough you won't face any penalties from being considered to be a "renter" versus a "owner." Conversely, buying a single-family house requires selling it as soon as you decide to leave, lest you incur higher capital gains taxes when converting ownership status. Do you intend to reside in the same area forever? If your intention is to stay put for a long period of time, it makes sense to buy a smaller dwelling rather than a larger one. Why? Because the latter will come at higher initial cost. Moreover, you'd still need to find a place suitable for someone else to live, which could prove extremely challenging especially if you've made significant improvements. As mentioned earlier, selling a large property is often easier, faster and less expensive than relocating yourself. Can you afford monthly payments? Even though mortgage rates tend to remain below 5%, that hasn't always applied historically. For instance,...
What makes Xondo Ontario's Most Convenient New Condo/Home Buying Platform?
This post describes everything you should be aware of when buying real estate. From making decisions on price range to choosing which agent/broker will help you through the purchase, this article covers some topics you most definitely don't want to overlook. In order to get started properly finding the perfect property, follow these steps... 1. Start By Asking Yourself "Why Buy?" Before going onto any formulae of price points and numbers, take time to ask yourself why exactly you're doing this; whether it be financial obligations, family needs, or personal growth. If you feel motivated by any of those things then congratulations, but chances are, someone else feels similarly compelled to buy another house just because they enjoy living in them. Instead, remember that you're paying thousands if you aren't thinking carefully enough. 2. Find A Realtor Or Broker Who Understands Your Needs And Priorities First Don't go straight to the listing company without first speaking to a broker who understands your priorities and preferences. Don't assume anyone sells homes at a specific location unless you happen to live nearby themselves. Some brokers only specialize in certain areas while others handle every region under the sun, as well as Canada wide properties outside of Toronto. Speak to someone knowledgeable. Don't be afraid to speak up. They'll respect that. 3. Do Not Be Afraid Of Price Range Questions While buying a newly constructed home does incur a higher initial cost than resale houses, this isn't always reflected in price point questions. While prices vary greatly depending on neighbourhood, size, amenities, finishes and overall condition of the building, many buyers focus exclusively on square footage and end up spending far less on a place than they ever thought possible. Keep in mind that the actual value of a home depends heavily upon the area; the more popular a particular housing market becomes (as indicated by increased population), the more expensive a given residence tends to become. On top of that, many builders offer attractive incentives to entice buyers away from competitors, resulting in further increases in final costs. 4. Avoid Price Point Quotes Without Taking All Factors Into Account When getting quotes for potential properties, understand that each builder does a different job in calculating the exact amount one would spend as opposed to another. The way a firm calculates price differences varies widely. For example, some firms calculate price solely dependent upon floor space whereas other companies use total square feet and include the type of finishing materials used along with other factors like land sizes or parking spots. There's no harm in asking multiple agents, especially during an interview session, since they'd still have to provide identical amounts after accounting for variables like taxes and other fees. However, keep in mind that the quote provided by some agents might be lower simply due to lack of competition, i.e. a small agency could charge $1000 per sqft for a large 1 bedroom unit versus offering a $5k+ unit for half the number of rooms. Always pay close attention to details and seek clarification when faced with any discrepancies. ...
How Xondo makes Home Buying & New Construction Investing in Richmond Hill Easy?
Xondo offers a unique online toolkit for investors who are interested in investing in real estate. This includes an interactive map showing the location of properties across Canada, detailed property details with photos, floorplans, a virtual tour, neighbourhood information and other useful tools and tips for buying, selling and renting. Xono helps you to search homes and condos for sale in the area you would like to settle down and live in, including the nearby neighbourhoods. We will help you find a place within your reach and budget. We’ll provide you with relevant market stats on average price, days on the market, sold vs active listings ratios, and more! When you buy through this website you become part of Xondo community which provides exclusive content and benefits such as discounts, newsletters, alerts, events and many others. All members receive an email newsletter once every week containing valuable info on local markets and trends. If you decide to sell, you get all the same great services plus more. Our team will assist you from day 1 until after the deal closes. They will be there for you during inspections, showings, negotiations with buyers/renters, closing and beyond. [IMAGES OF PROPERTIES IN RICHMOND HILL]: https://xondonow.ca/?property_id=959 [IMAGES OF VIRTUAL TOUR]: https://www.youtube.com/watch?v=-1Jw_xZ4YUo&feature=youtu.be [IMAGES OF FLOORPLAN]: https://i2.wp.com/xondonow.ca/wp-content/uploads/2017/10/RichmondHillFloorplan.png [IMAGES OF NEIGHBOURHOODS]: https://cdn3.saveur.com/assets/images/2016/08/neighborhood-map-of-richmondhill-on-the-right-side-of-a-street-photo-8652698-150x200.jpg [IMAGES OF SEASIDE VIEW]: https://www.flickr.com/photos/jasonmccormick/15485545897/ [IMAGES OF THE BEACHFRONT AND PARKING SPOTS]: https://www.cbc.ca/news/canada/ottawa/new-housing-development-in-richmond-hill-isn-t-what-it-used-to-be-1.4633963 [IMAGE ON HOMEBUYING WEBSITE]: http://www.homebuynow.net/en/Ottawa [HOME BUILDERS SECTION]: https://www.xondohomebuyer.com/#!/homebuilder [SELLER SERVICES SECTION]: https://www.xondonow.com//sellerservices [CLOSEST TO SCHOOLS AND COMMUNITY SECTION]: https://www.xondonow.com//close-to [NEUTRALIZED MAP OF OTTAWANS]: https://maps.google.com/+Xondonow+Ottawa [PROPER...
How To Make Money On a New Home or Condo Purchases in Richmond Hill, Ontario
This post covers everything from what makes a great neighbourhood to buying your next property, including information you'll need to find a realtor who will get you top dollar for your dream house in Richmond Hill, Ontario. We've got some tips from local experts on what to consider before making your purchase decision, like choosing an area that suits your needs and lifestyle. We've compiled this information to help you make the smartest choice possible! What Makes A Great Neighborhood For Your Next Property Purchase? Before you decide to buy a new building, consider the following things first: Location: Where should I live? Richmond Hill's proximity to Toronto and other municipalities in southern York Region are some of its biggest assets. Whether you're planning to stay put after moving in (or move back), or relocating to another community, these factors matter most. If you're considering living somewhere else, it helps to know whether you'd be happy with commuting times and distances. Transportation: How easily accessible will my neighbourhood be? Is it near a bus route, train track, expressway, shopping centre, hospital or park? Do nearby schools offer quality education? Is your commute fast enough to avoid traffic congestion during rush hour or bad weather days? Crime Rate & Safety: Does crime happen often? Can residents report crimes without fear of being targeted? How safe are the streets around me? Schooling Options: Is your child/children enrolled in good school options closeby? Is there a private or charter secondary school available? If your family prefers a religious institution, what is closest to you? Community: Would I enjoy spending my spare time hanging out with people my age, or would I prefer a quiet community to meet new people? Neigh-Bros: Who lives around me and what are they like? Does everyone seem friendly and inviting towards newcomers? Does everyone speak English, Spanish or French well? Housing Costs: What's average rent or mortgage rate in Richmond hill? Can I afford the monthly cost? Other Things To Consider: Size: How big is the lot size of the homes you see? If there aren't many large lots available in your price range, ask yourself why. Condition: What condition does the exterior of each building appear to be in? Is every unit in excellent shape or could some be older than you think? Ask a friend who owns a similar type of home to check out the property for you as well. Style: What sort of style does the building tend to favour? Modern condos tend to have modern design while traditional houses are typically built with a classic feel. Features: Are there any unique amenities offered at the development? Do you need extra space for parking or laundry facilities? If you're interested in renovating an old house, are the homes on the market well maintained or do they need work? ...