By: Thomas Cook

Could Your Toronto Home Contain Kitec Plumbing?

Could Your Toronto Home Contain Kitec Plumbing?

Normally when a home buyer reads about the dangers that could be lurking in a home, they're concerned about building materials used decades ago, like asbestos. But homes built in Toronto between 1995 and 2007 could be at risk of severe flooding damage because of Kitec plumbing, according to a recent column by Toronto Real Estate Lawyer Bob Aaron. The plumbing was initially designed to be corrosion-resistant but actually corroded at an accelerated rate and can fail with strong water pressure or extremely hot water. The pipes can fail, leak and even burst. In one case that Aaron mentions in his column, the costs of retrofitting a Kitec plumbing condo building downtown with copper pipes w...Read More

By: Thomas Cook

Average Selling Price In Toronto Increases Almost 11% In May

Average Selling Price In Toronto Increases Almost 11% In May

The Average Selling price in the for homes in the Greater Toronto Area has increased by almost 11% during the first two weeks of May compared to the same time last year, reaching $652,782. “The low-rise market segments, including detached home sales, have been the driver of average price growth in the GTA this year,” said Jason Mercer, the Toronto Real Estate Board’s Director of Market Analysis.. “As market conditions have tightened, average price growth has remained very strong. However, while tighter market conditions have been a key factor, so too has been a shift to higher priced homes. Detached sales growth in the City of Toronto, for example, has been strongest...Read More

By: Thomas Cook

What Makes A Toronto Condo Green?

What Makes A Toronto Condo Green?

Consumers these days are more conscious of the impact their buying descisions have on the environment than ever before, and home buyers are no different. Whether a condo is "green" or not has become a huge selling feature in Toronto in recent years. TD Economics recently released a report on what effect a condo’s “green” features have on its maintenance fees, days on the market and the selling price. What is a green condo? A LEED-certified condo uses less electricity and less water on average, while there are also a number of different variables that can account for a condo being green, such as the materials used in the construction process and where those mate...Read More

By: Thomas Cook

Don't Wait: Are You Prepared For A Flood?

Don't Wait: Are You Prepared For A Flood?

Large-scale thunderstorms with downpours are not uncommon during the summer season in Toronto. Unfortunately, these types of storms can end up causing serious damage of the worst and most expensive kind to your home: Flood damage. Did you know there are things you can do to help reduce the likelihood of flood damage to your house? While flooding has replaced fire as the leading cause of serious damage to homes in Canada, a recent survey by RBC has found that Canadians are not planning on taking preventative measures as much this year as previous years. For example, only 22 per cent of homeowners plan on maintaining their eavestroughts and downspouts this year, down from 60 per cent in 201...Read More

By: Thomas Cook

Which City's Luxury Real Estate Market Is The Hottest In The World? Toronto!

Which City's Luxury Real Estate Market Is The Hottest In The World? Toronto!

Did you know that a recent report named Toronto's luxury real estate market as the hottest luxury real estate market in the world? Luxury Real Estate is usually defined as homes that sell for over a million dollars, and also includes homes priced at $2.4 million and up. An article by Global News says that Christie’s International Real Estate has released a report showing that Toronto is the top luxury real estate market in the world, having been the only city in among the world’s top 10 to witness a quicker pace of luxury home sales in 2014 compared to 2013 – up to 37 per cent, from four per cent. The report says this is due to low supply, which is increasing prices a...Read More

By: Thomas Cook

How A Real Estate Agent Can Help With Open Houses And Contracts

How A Real Estate Agent Can Help With Open Houses And Contracts

Do you know how a Toronto Real Estate Agent can help you with the intricacies of a real estate transaction? There are many different components to buying or selling a home, and there's also plenty of misinformation floating around. Which is fact, and which is fiction? Real Estate contracts are all identical – Fiction While there are definitely standards for Toronto real estate contracts that must be met, each contract is as unique as the home it belongs with. There are a number of different terms, conditions or clauses that can be added to any home buying or home selling contract, so be sure to have your real estate agent explain anything that you don’t understand Open Hou...Read More

By: Thomas Cook

Toronto Real Estate Market Hits Highest Ever Multiple Times In April

Toronto Real Estate Market Hits Highest Ever Multiple Times In April

According to the latest Toronto MLS Listings stats from the Toronto Real Estate Board, the Toronto real estate market hit its "Highest Ever" several times over the course of April. Sales were up 17% for April compared to last year with 11,303 houses and condominiums changing hands in all the districts. This was the most sales ever recorded by the Toronto Real Estate Board for any month ever! Sales are actually up 30% above the last 15-year average. Condo townhouse and high-rise suites dropped their share of the market slightly to 29.3% with 3,314 units being sold. However this was the second highest number of condos ever sold in a month. The April average sale price for all GTA ...Read More

By: Thomas Cook

Fact Or Fiction: Are Home Inspections Always Worth The Money?

Fact Or Fiction: Are Home Inspections Always Worth The Money?

There is so much misinformation floating around online and elsewhere about buying and selling a home. While everyone can have different and valid opinions on the home buying or selling process, there are some truths of the process that you just can't argue with. Home Inspections Are Not Worth The Money – Fiction Home inspections are always worth the money! When you’re buying a home (or selling one, and buying another) your budget may be somewhat stressed. However, the home inspection is not the place to save money – even if you’re buying a newly constructed home. For the cost of just a few hundred dollars, you’re either buying peace of mind or the opportun...Read More

By: Thomas Cook

Are You Ready To Hire A Toronto Real Estate Agent?

Are You Ready To Hire A Toronto Real Estate Agent?

While buying or selling a home is no small decision, the importance of choosing the best Toronto real estate agent for you and your family is nothing to sneeze at. Your real estate agent is the one who will guide you through what is probably the biggest investment of your lifetime, and which agent you choose is not a decision to take lightly.   What neighbourhoods do you work in most often? Toronto is a big city and not all buyers are familiar with the neighbourhood they might like to live in. Working with a real estate agent who is familiar with your desired area will go a long way when it comes down to actually finding or selling a home. Who will I be working with? Many real estate...Read More

By: Thomas Cook

What You Need To Know About Buying A Home With A Basement Apartment

What You Need To Know About Buying A Home With A Basement Apartment

It's very easy to see why home buyers find basement apartments, sometimes called in-law suites, very appealing. For one, they can be used to earn additional income if rented out to the right tenants or, as the name implies, used to house additional family members that might need to live with you one day. However, adding a basement apartment is a major renovation and like any major renovation, it has to be legal. Not only must the home be zoned for a multi-unit dwelling, but the proper permits must have been taken out to have built the suite. Also, the apartment must be up to various building, electrical and fire codes. While new regulations allow basement apartments on a provincial leve...Read More