Mortgage Rules: Did they just make it harder to buy a house, AGAIN?

Yesterday, OSFI (The Office of the Superintendent of Financial Institutions) announced some new rules to tighten up the real estate market. These rules will affect anyone putting 20% as down payment or more on a home. Currently, anyone purchasing a house over a million dollars will have to put a down payment of at least 20% to qualify for a mortgage. Those who spend less than a million dollars and put down less than 20% have been experiencing this additional stress test for the last year. Continue Reading




Why It’s Great to Become a Real Estate Investor

Here are some points about why it’s beneficial to become a real estate investor.





Which Condos Near TTC Stations Produce the Biggest Bang for Your Buck?

I started to study the value of 1 & 2 bedroom condos along the subway line. After I completed my initial research, my next question was how much have the values changed between 2017 and 2016 at each subway station. My analysis was even surprising to me. It does matter which subway station is the closest to your condo in determining how much your condo will increase year over year.

I pulled the numbers from the Toronto Real Estate Board statistics based on condos that were within a 0.3km radius or 394 steps from a subway station. Some stations don’t have any condos built within the 0.3 km distance and some had few sales reported during the period of Jan. 1 to July 24th making some of the sample sizes rather small (ie. less than 4 condos).

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My Experience with Condo Boards

I’ve been there, done that, and bought the t-shirt.

When I say that, what I mean is that I purchased my first pre-construction condo in 2001. It was on Merton St and I lived there for a few years before I purchased my first house. While I lived at 194 Merton St, I was part of their initial board of directors taking on the roles of Secretary, Treasurer & President over the years. Let’s just say I learned a lot about condo management being an owner and sitting on the condo boards. Continue Reading