Looking to buy a home or sell your home?
Please contact me for all your real estate needs!
647-772-9502
hoizady@yahoo.com
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Please contact me for all your real estate needs!
647-772-9502
hoizady@yahoo.com
#greenandgoldgotitsold #homelife #hojjatollahizady #homelifecimerman #torontorealestate #toronto #realestate #torontorealtor #realtor #gtarealestate #realestateagent #realestatetoronto #torontorealestateagent #realtorlife #homeliferealtors #homeliferealtor #FiveStarAgents #realestate
▪️سازندگان ملک در تورنتو نسبت به افزایش قابل توجه هزینه های ساخت ملک هشدار می دهند. گفته می شود با توجه به افزایش هزینه های ساخت، قیمت خانه های جدید افزایش خواهد یافت. اخیرا شهرداری اعلام کرده است که هزینه development charge rates برای تمام خانه های مسکونی 49 درصد افزایش خواهد یافت. این افزایش اعلام شده توسط شهرداری موجب تغییر و افزایش قیمت ملک بصورت 30.000 دلار برای هر اتاق خواب می شود، که تاثیر زیادی بر پروژه های ساختمانی در حال انجام خواهد داشت.
▪️https://storeys.com/toronto-proposes-increase-development-charges-49-percent/
▪️حجت اله ایزدی
▪️647-772-9502
▪️Realtor, M.Sc, P.Eng.
▪️hoizady@yahoo.com
.
▪️https://storeys.com/toronto-proposes-increase-development-charges-49-percent/
▪️حجت اله ایزدی
▪️647-772-9502
▪️Realtor, M.Sc, P.Eng.
▪️hoizady@yahoo.com
.
Most Canadians doubt new tax-free FHSA will help them buy a home
72% think the First Home Savings Account will have little to no impact on their ability to purchase a home: survey
Ottawa announced a new tax-free First Home Savings Account (FHSA) in its 2022 federal budget earlier this month. But while the account aims to help more Canadians enter the housing market, most believe it will do little to help them purchase a home, a recent Hardbacon survey found.
The FHSA – expected to be introduced in 2023 – will assist home buyers with saving for a down payment on their first home. Younger Canadians between the ages of 18 and 40 can save up to $8,000 a year over five years for a total of $40,000.
The account will offer a tax deduction and tax-free withdrawals, combining the benefits of both retired registered savings plans (RRSPs) and tax-free savings accounts (TSFAs).
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72% think the First Home Savings Account will have little to no impact on their ability to purchase a home: survey
Ottawa announced a new tax-free First Home Savings Account (FHSA) in its 2022 federal budget earlier this month. But while the account aims to help more Canadians enter the housing market, most believe it will do little to help them purchase a home, a recent Hardbacon survey found.
The FHSA – expected to be introduced in 2023 – will assist home buyers with saving for a down payment on their first home. Younger Canadians between the ages of 18 and 40 can save up to $8,000 a year over five years for a total of $40,000.
The account will offer a tax deduction and tax-free withdrawals, combining the benefits of both retired registered savings plans (RRSPs) and tax-free savings accounts (TSFAs).
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Yet, while a majority (70 per cent) of Canadians want to use the FHSA, most (72 per cent) think it won’t help them buy a home.
Skyrocketing home prices is one reason. Some (39 per cent) think the FHSA is unfair because it leaves out people who want to buy in more expensive markets.
The Canada Mortgage and Housing Corp. only allows a minimum down payment of $40,000 for a maximum purchase price of $650,000. In comparison, the average price of a home in Canada reached a record $816,720 in February.
Those who do plan to put money into the account next year are hoping to cut spending (32 per cent), decrease RRSP contributions (16 per cent), and reduce (12 per cent) or take money out (nine per cent) of their TFSA. Some (three per cent) also intend to take money out of their RRSP or reduce contributions to a Registered Education Savings Plan (two per cent).
Of the 30 per cent who don’t plan to use the savings tool, over half (54 per cent) don’t understand its advantages and the others (46 per cent) believe they won’t have enough money to contribute.
“The FHSA is a tax-free savings account, but it doesn’t mean that it actually makes saving for a down payment any easier, especially in hotter real estate markets,” Hardbacon’s editor-in-chief Stefani Balinsky said in a press release.
Still, the bulk of Canadians (88 per cent) want to become homeowners one day.
The amount of time they think it will take them to save for a down payment varies. Twenty-two per cent think it will take five years, five per cent think it will take 10 years, and six per cent think it will take 15 years or more.
Most (82 per cent) do not expect to receive financial support from their parents. Of the fortunate 17 per cent who do, nearly half said they (47 per cent) won’t have to pay them back.
Among them, 20 per cent expect between $5,000 and $10,000 from their parents, 30 per cent anticipate between $15,000 and $30,000, and 15 per cent think they will get between $50,000 and $100,000. The luckiest 10 per cent expect to receive over $100,000.
“What the survey found is that the most effective source of a down payment is the Bank of Mom and Dad. Still, not everyone is that fortunate,” said Balinsky.
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Skyrocketing home prices is one reason. Some (39 per cent) think the FHSA is unfair because it leaves out people who want to buy in more expensive markets.
The Canada Mortgage and Housing Corp. only allows a minimum down payment of $40,000 for a maximum purchase price of $650,000. In comparison, the average price of a home in Canada reached a record $816,720 in February.
Those who do plan to put money into the account next year are hoping to cut spending (32 per cent), decrease RRSP contributions (16 per cent), and reduce (12 per cent) or take money out (nine per cent) of their TFSA. Some (three per cent) also intend to take money out of their RRSP or reduce contributions to a Registered Education Savings Plan (two per cent).
Of the 30 per cent who don’t plan to use the savings tool, over half (54 per cent) don’t understand its advantages and the others (46 per cent) believe they won’t have enough money to contribute.
“The FHSA is a tax-free savings account, but it doesn’t mean that it actually makes saving for a down payment any easier, especially in hotter real estate markets,” Hardbacon’s editor-in-chief Stefani Balinsky said in a press release.
Still, the bulk of Canadians (88 per cent) want to become homeowners one day.
The amount of time they think it will take them to save for a down payment varies. Twenty-two per cent think it will take five years, five per cent think it will take 10 years, and six per cent think it will take 15 years or more.
Most (82 per cent) do not expect to receive financial support from their parents. Of the fortunate 17 per cent who do, nearly half said they (47 per cent) won’t have to pay them back.
Among them, 20 per cent expect between $5,000 and $10,000 from their parents, 30 per cent anticipate between $15,000 and $30,000, and 15 per cent think they will get between $50,000 and $100,000. The luckiest 10 per cent expect to receive over $100,000.
“What the survey found is that the most effective source of a down payment is the Bank of Mom and Dad. Still, not everyone is that fortunate,” said Balinsky.
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Early Data Shows GTA Housing Prices On “Rapid Decline” in April
The official spring numbers for the Greater Toronto Area market won’t be out until next week, but early analysis finds that average housing prices in the region are dropping at a rapid pace.
Initial data compiled by Realosophy President John Pasalis comparing the percentage change in sold prices for low-rise homes in the first three weeks of April to the same time frame in February, finds prices are declining across all GTA municipalities, between 6 – 21%.
It’s concrete proof that the anecdotally softer conditions seen thus far this spring are indeed a reality; agents have reported overall fewer buyers in the market, a dramatic drop in offers, and the resurgence of buyers’ market trends such as bully offers and conditions.
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The official spring numbers for the Greater Toronto Area market won’t be out until next week, but early analysis finds that average housing prices in the region are dropping at a rapid pace.
Initial data compiled by Realosophy President John Pasalis comparing the percentage change in sold prices for low-rise homes in the first three weeks of April to the same time frame in February, finds prices are declining across all GTA municipalities, between 6 – 21%.
It’s concrete proof that the anecdotally softer conditions seen thus far this spring are indeed a reality; agents have reported overall fewer buyers in the market, a dramatic drop in offers, and the resurgence of buyers’ market trends such as bully offers and conditions.
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No Fresh Housing Initiatives Announced in Ontario Provincial Budget
Today, Provincial Finance Minister Peter Bethlenfalvy tabled the 2022 provincial budget in the Ontario Legislature, titled “Ontario’s Plan to Build”.
Unlike the 2021 budget, which had a firm focus on leading Ontario’s economy through the COVID-19 pandemic through health care and economic measures, this year’s edition doubles down on the Ford government’s commitment to building new housing supply, and takes aim at development timelines.
However, there weren’t any fresh housing initiatives included in the new record $198.6B-budget. Instead, it reiterated recently-announced measures, including the Housing Affordability Task Force’s mandate to build 1.5M homes over the next 10 years.
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Today, Provincial Finance Minister Peter Bethlenfalvy tabled the 2022 provincial budget in the Ontario Legislature, titled “Ontario’s Plan to Build”.
Unlike the 2021 budget, which had a firm focus on leading Ontario’s economy through the COVID-19 pandemic through health care and economic measures, this year’s edition doubles down on the Ford government’s commitment to building new housing supply, and takes aim at development timelines.
However, there weren’t any fresh housing initiatives included in the new record $198.6B-budget. Instead, it reiterated recently-announced measures, including the Housing Affordability Task Force’s mandate to build 1.5M homes over the next 10 years.
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These include the province’s objective to implement a long-term plan to address the housing crisis, as informed by the HAFT’s 55 recommendations. It also re-stated the spend of $19.2M to address the backlog currently experienced by the Landlord and Tenant Board and Ontario Land Tribunal, as well as the $3B spend previously allocated between 2020 and 2022 to support community housing and prevent homelessness, including nearly $1.2B via the Social Services Relief Fund.
“One of the defining affordability challenges of our time is housing. Our province is growing and every year, people from across Canada and around the world choose Ontario to build their careers and raise their families, here in Ontario. But every single year, they’re putting pressure on our housing supply and the dream of homeownership becomes further and further out of reach,” stated Bethlenvalvy in the Legislature. “In fact, as part of our plan, we’ll increase the housing supply by building 1.5M new homes over the next 10 years. It’s time to put more housing options within the reach of families who so badly need them. When we talk about building new homes for families, we say, let’s get it done.”
“One of the defining affordability challenges of our time is housing. Our province is growing and every year, people from across Canada and around the world choose Ontario to build their careers and raise their families, here in Ontario. But every single year, they’re putting pressure on our housing supply and the dream of homeownership becomes further and further out of reach,” stated Bethlenvalvy in the Legislature. “In fact, as part of our plan, we’ll increase the housing supply by building 1.5M new homes over the next 10 years. It’s time to put more housing options within the reach of families who so badly need them. When we talk about building new homes for families, we say, let’s get it done.”
Detached House in Richmond Hill for Sale
Listed for: $1,899,000
4+2 Bedrooms
4 Bathrooms
2 Garage
1 Kitchen
Property Type: Detached, 2-Storey
Building Age: 16-30
Size: 3,000 - 3,500 feet²
Lot Size: 62.73 × 134.71 feet
Premium Pie Lot With Impressive Curb Appeal Across From Ravine, 6 Car Driveway No Sidewalk! $$$ Spent On Reno. New Hardwood Flooring And Staircase With Iron Pickets. Freshly Painted. New Gourmet Kitchen With Kitchen-Aid Ss Appliances, Oversized Centre Island With Breakfast Bar, Quartz Counter. Smooth Ceiling/ Pot Lights On Main. New Chandeliers In Foyer/Staircase. Separate Service Stairs To Bsmt With Rough-In Kitchen/ 2 Bedrooms/3 Piece Bath, Can Be Used As An In-Law/Nanny Suite. Oversized Deck With Seating/Custom Made Cusions. Exterior Potlights In Front. Top Ranking Schools!
For Booking please call:
Hojjatollah Izady
Realtor
HomeLife/Cimerman Real Estate Ltd., Brokerage
647-772-9502
hoizady@yahoo.com
.
Listed for: $1,899,000
4+2 Bedrooms
4 Bathrooms
2 Garage
1 Kitchen
Property Type: Detached, 2-Storey
Building Age: 16-30
Size: 3,000 - 3,500 feet²
Lot Size: 62.73 × 134.71 feet
Premium Pie Lot With Impressive Curb Appeal Across From Ravine, 6 Car Driveway No Sidewalk! $$$ Spent On Reno. New Hardwood Flooring And Staircase With Iron Pickets. Freshly Painted. New Gourmet Kitchen With Kitchen-Aid Ss Appliances, Oversized Centre Island With Breakfast Bar, Quartz Counter. Smooth Ceiling/ Pot Lights On Main. New Chandeliers In Foyer/Staircase. Separate Service Stairs To Bsmt With Rough-In Kitchen/ 2 Bedrooms/3 Piece Bath, Can Be Used As An In-Law/Nanny Suite. Oversized Deck With Seating/Custom Made Cusions. Exterior Potlights In Front. Top Ranking Schools!
For Booking please call:
Hojjatollah Izady
Realtor
HomeLife/Cimerman Real Estate Ltd., Brokerage
647-772-9502
hoizady@yahoo.com
.