New from @StatCan_eng this morning: share of properties owned by non-residents (by census subdivision) https://www150.statcan.gc.ca/n1/en/pub/39-26-0001/392600012018001-eng.pdf?st=b7pYY8QF …
When you own your home, things are going to break and, unless you want to spend your money on visits from a neighborhood handyman, you’re going to need to fix them yourself. Luckily, you don’t need an arsenal of tools to handle most home maintenance fixes. These five tools will cover most of your basic projects.
Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid:
Although title insurance is not a requirement in Ontario, I recommend that every buyer consider coverage when they buy a home.
“Title” refers to your legal ownership of a property, as registered in the government’s land registration system. Title insurance covers losses related to the property’s title or ownership, including:
Title insurance can also come in handy if title registration in your name can’t occur on the date your deal is supposed to close. The “gap” coverage in title insurance will allow your lawyer to close the sale of the property even if registration is delayed.
Another key protection is title fraud, which occurs when a criminal uses stolen or forged documents to transfer your home’s title into their name, without your knowledge. They can then obtain a mortgage on the home and disappear with the money. Although title fraud is relatively rare, it does happen, and title insurance may cover the legal costs of restoring the title to your name.
Some title insurance also includes coverage in case your lawyer makes an error while handling the real estate transaction.
I always tell buyers and sellers to thoroughly read and understand what they sign, and that applies just as much to a title insurance policy. Read the policy thoroughly and ask questions so that you understand the coverage you’re getting. If you’re not sure about something, ask your lawyer.
Although title insurance is a one-time fee, the coverage lasts as long as you own the property.
However, it’s important to remember that title insurance is not an excuse not to do your due diligence, nor is it a home warranty or home insurance. For example, theft, or damage due to fire, have nothing to do with the title, so they wouldn’t be covered.
In addition, title insurance typically won’t cover:
To learn more, the Financial Services Commission of Ontario offers a comprehensive guide to title insurance that is very helpful.
You can purchase title insurance through your lawyer, directly through a title insurance company or through an insurance broker.
Joseph Richer is Registrar of the Real Estate Council of Ontario (RECO). He is in charge of the administration and enforcement of all rules that govern real estate professionals in Ontario.
Following a recent property reassessment, many businesses in Toronto reported unsustainable property tax increases. As a result, on January 31, 2018, City Council adopted measures to provide a level of protection against these property tax increases. In 2018, properties in the commercial, industrial and multi-residential tax classes will see property tax increases limited (capped) to 10 per cent of the preceding year's annualized taxes, plus a portion of the Council's approved budgetary rate increase.
Council has asked City staff to explore additional tax policy options for businesses impacted by property tax increases and to report back on a policy direction to explore in 2019 and beyond. City staff held public consultations.
Given that many TREB Members work with business clients operating from commercial and industrial properties in Toronto, TREB submitted a letter to the City providing initial input, and requesting the opportunity to be involved in the process of developing any new policies on this issue.
TREB believes that a competitive property tax environment is critical for the City's economy and that making the City's business property tax rates more competitive should be a priority for City Council. With that said, TREB believes that some important questions must be answered prior to implementing any new policies:
No matter how much we enjoy spending time outdoors during our short summers, we always want our homes to be comfortable spaces for living. But even with an air conditioner, this can be tricky during the hottest days of the year.Use these tips from Health Canada to create a more pleasant indoor environment for your family and guests:
Simplify your cooking. When the weather is gorgeous out, who wants to be in the kitchen making big, time-consuming meals? Keep temperatures down by preparing meals that don’t need to be cooked in the oven.
Do It Yourself shade. If you live in a house, plant trees on the side where the sun hits the house during the hottest part of the day. Tree-shaded spots can be as much as 5ºC cooler than the surrounding area.
Work with your windows. Paying attention to what’s going on outside can make a big difference if you adjust your windows and coverings accordingly. Block the sun by closing awnings, curtains or blinds during the day. Harness the evening breeze by opening your windows at night, if it is safe, to let cooler air into your home.
Fine tune your air conditioning. If you have an air conditioner, make sure it works properly before the hot weather starts. Otherwise, find an air-conditioned spot close by where you can cool off for a few hours during very hot days. This will help you cope with the heat better.
Stay informed about local weather forecasts and alerts so you know when to take extra care.
If you’ve ever noticed that it feels much cooler at the cottage or rural areas than at home in the city, you’re not wrong. Thanks to the urban heat island effect, cities tend to have much hotter temperatures than the surrounding countryside.Research shows that the annual average temperature of cities with a million or more people can be as little as 1ºC warmer and as much as 12ºC warmer than nearby areas.
This is because the concrete, brick and asphalt that make up the environment in urban areas absorb heat from the sun during the day and emit some of that heat at night. Urban structures can also increase the absorption and reflection of solar radiation, as well as reduce airflow.
Meanwhile, buildings, cars and machinery in cities can make the situation worse by releasing waste heat. Global warming and population growth are also adding to the urban heat island effect.
Fortunately, if you live in a city there are a few things you can do to help cool off your community. Help plant trees around your home, neighbourhood or local park, as tree-shaded spots can be as much as 5ºC cooler than the surrounding area.
If you’re renovating or are involved in a new construction through work or home, choose cool or reflective roofs that help lower indoor air temperature by reflecting the sun’s energy.