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First-Time Home Buyer’s Tax Credit. $750. According to Ratehub’s land transfer tax calculator, if you buy your first home for $500,000, your land transfer tax will be $4,475 in Toronto, $2,475 in the rest of Ontario, and $0 in BC. If you buy your first home for $350,000 in any of those places your land transfer tax will be nil.
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Jun 17, 2023 · Real estate, buying & selling, home improvement, lifestyle, house & condo prices, cottages, luxury property. Market insights for Toronto, Montreal, Vancouver, Ottawa, Calgary, Halifax and more. If you’re a homeowner who’s thinking about moving, then you’ve probably pondered the age-old question — should I sell my home before I buy…
- Quick Summary
- What Is A House?
- What Is A Condo?
- Pros & Cons of Condo Ownership
- Pros & Cons of House Ownership
- Which Is A Better Investment: Condo Or A House?
Condos are generally more affordable than houses, especially in urban areas, but come with monthly HOA fees for maintenance and amenities. The house is typically higher upfront and requires the own...Condos are ideal for those seeking urban living with access to amenities, while houses are better suited for those valuing space and privacy.Monthly HOA fees for condos can range from $200 to $1,000, depending on the amenities and location.From my experience, condos can be a great entry point for first-time buyers due to their affordability and low maintenance. However, houses often offer better long-term investment potential due to...A house is also known as a single-family house or a single-family home. It has four exterior walls not attached to any other residential structure. Houses come in various sizes, shapes, and designs, ranging from simple bungalows to multi-story mansions. Typically, houses are situated on land that includes a front and back yard, and the homeowner al...
A condominium (or condo) is an individual unit within a larger building or complex. Condo owners hold exclusive ownership of their unit while sharing ownership of the common areas and amenities, which are managed by a homeowners' association (HOA) . Condos are popular for urban living and are generally more affordable and low-maintenance.
Pros: 1. Affordability: Condos are typically more budget-friendly for first-time buyers or those downsizing. 2. Low Maintenance: With exterior maintenance covered by the HOA, condo living requires less upkeep. 3. Amenities: Many condos offer shared amenities like pools and fitness centers, which can save on personal installation and maintenance cos...
Pros: 1. Customization: Houses allow for more extensive modifications, from renovations to landscaping, without HOA restrictions. 2. Privacy: Detached houses offer greater seclusion and distance from neighbors. 3. Resale Value: Houses tend to appreciate faster and may yield a higher return on investment when sold. Cons: 1. Higher Costs: Houses usua...
When considering which is a good investment option, a condo or a house, condos are the best option at present. Still, the significant reduction in the cost of houses and the enormous rise in the cost of condos have placed potential investors in a conflict regarding condo vs. house. According to surveys, condominium prices have touched at least six ...
Jun 24, 2024 · The other advantage is that you can take your time. Now that you have sold your current house, you are not rushed to find the right home. At the same time, you can also negotiate a better purchase price. One more thing: You are not doubling your monthly spending because you are not carrying two mortgages or paying twice the utility bills.
Apr 20, 2021 · Houses in cities such as Toronto or Vancouver can be expensive for first-time homebuyers, yet they might not appreciate in value as much as a condo would. On the other hand, if you are in a suburban or rural area, a house could give you the lifestyle you want. A house is also a good choice if you’re looking for some freedom to make changes to ...
Mar 31, 2023 · Buying first. Pro: You can take your time to find the perfect place. Con: If your property doesn’t sell fast, you could end up owning two homes at the same time. When there are more interested buyers than properties for sale, that’s referred to as a seller’s market: one in which sellers have the advantage.
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Should you buy or sell a condo?
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Should I Sell my current house?
Should you sell your home or buy a new property?
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Should I buy a house first or sell?
Sep 20, 2024 · The following benefits come with buying and owning a condo: More affordable. Perhaps the biggest advantage of a condo is that they’re typically cheaper to buy than houses in the same area. For example, in Toronto, the average condo price is currently $729,005, compared to $1,097,300 for houses. Security.
