Sold: Charming 3-Bedroom Detached Home in Toronto (104 Aileen Ave)
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Why Toronto’s First-Time Homebuyers Are Waiting to Buy in 2024
Ready to buy, but waiting for the perfect moment Toronto’s first-time homebuyers are eager to step into the real estate market, having saved up for their dream homes. However, several factors are causing hesitation in one of Canada’s most dynamic housing markets.
Proposed GST/HST Exemption On New Homes (Global News 640 Toronto)
Ford government plans to remove bike lanes on major Toronto streets like Yonge Street. Conservative Party’s proposed to eliminate the GST/HST on new homes under $1 million. City incentivizes the development of purpose-built rental housing, including reducing development charges.
CRA Ruling: 13% HST When Selling Airbnb Property (Christine Cardoso – Global News 640 Toronto)
A new CRA ruling calls for 13% HST on property value when selling short term rental properties. Toronto proposing strict renovation eviction bylaws, raising concerns for landlords.
Airbnb homeowners will be taxed when selling their properties (Kelly Cutrara – Global News 640)
A recent ruling by the Tax Court of Canada that shows homeowners who have regularly rented out their properties on Airbnb or other short-term rental sites will be subject to paying 13% HST when putting their homes up for sale.
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LCBO Strike, Conservatives Spent More Money On Advertising (Ben Mulroney – Global News 640 Toronto)
Should the LCBO workers have gone on strike? Conservatives spent more money on their advertising recently than other parties.
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Buying a Home With Family Financial Assistance (Ben Mulroney – Global News 640 Toronto)
Young homebuyers are increasingly relying on financial assistance from family members to make down payments on homes. The rising cost of housing and the need for family financial help is contributing to a growing divide between those who can afford to buy homes and those who cannot.