Toronto passes inclusionary zoning policy for new residential developments
New rules have been approved by the City of Toronto that will require certain residential projects to include affordable housing units.
On Tuesday in a 23-2 vote, Toronto City Council adopted a new inclusionary zoning policy framework that will make it mandatory for some developments to incorporate affordable units in an effort to boost attainable housing in the city.
Council approved an inclusionary zoning official plan amendment, a zoning bylaw amendment and draft implementation guidelines which require new developments around protected major transit stations areas to include affordable rental and ownership housing units starting in 2022.
Toronto is the first city in Ontario to implement inclusionary zoning according to a press release issued on Tuesday.
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New rules have been approved by the City of Toronto that will require certain residential projects to include affordable housing units.
On Tuesday in a 23-2 vote, Toronto City Council adopted a new inclusionary zoning policy framework that will make it mandatory for some developments to incorporate affordable units in an effort to boost attainable housing in the city.
Council approved an inclusionary zoning official plan amendment, a zoning bylaw amendment and draft implementation guidelines which require new developments around protected major transit stations areas to include affordable rental and ownership housing units starting in 2022.
Toronto is the first city in Ontario to implement inclusionary zoning according to a press release issued on Tuesday.
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Pandemic trends reduce housing supply, heat up rental markets
Looming interest rate hikes have spurred sales and reduced inventory, heating up housing and rental markets on both sides of the border.
The buyers are expecting interest rate increases due to recent inflation data, which is pushing them toward buying sooner than later.
It’s a trend market watchers have also been noticing in Canada, with inventory levels low across the country and buyers anxious to get in ahead of higher rates.
Reduced inventory levels persist south of the border, with both new home and resale listings down 20 per cent from a year ago – a number that mirrors the Canadian situation.
Zonda chief economist anticipates supply increasing after the winter: “I think there are a lot of sellers that are trying to be opportunistic and trying to time the market correctly, and think that entering next year during the spring selling season will be a really good time.”
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Looming interest rate hikes have spurred sales and reduced inventory, heating up housing and rental markets on both sides of the border.
The buyers are expecting interest rate increases due to recent inflation data, which is pushing them toward buying sooner than later.
It’s a trend market watchers have also been noticing in Canada, with inventory levels low across the country and buyers anxious to get in ahead of higher rates.
Reduced inventory levels persist south of the border, with both new home and resale listings down 20 per cent from a year ago – a number that mirrors the Canadian situation.
Zonda chief economist anticipates supply increasing after the winter: “I think there are a lot of sellers that are trying to be opportunistic and trying to time the market correctly, and think that entering next year during the spring selling season will be a really good time.”
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Here’s how developers are making new construction homes more family-friendly
The number of families living in Ontario is anticipated to increase over the next decade, meaning home developers will need to build new residences to meet the impending wave of demand.
According to a recently published research paper by the Smart Prosperity Institute, the province needs to provide about one million net new homes within the next 10 years to keep up with the formation of young families and housing supply shortages. Of the 910,000 net new families that will form during the decade-long timeline, the Ottawa-based think tank predicts that 195,000 families will live in high-rise apartments and 715,000 will live in all other forms of housing.
New construction builders are already exploring and executing family-oriented projects that will provide future Ontario households with the amenities and conveniences they desire.
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The number of families living in Ontario is anticipated to increase over the next decade, meaning home developers will need to build new residences to meet the impending wave of demand.
According to a recently published research paper by the Smart Prosperity Institute, the province needs to provide about one million net new homes within the next 10 years to keep up with the formation of young families and housing supply shortages. Of the 910,000 net new families that will form during the decade-long timeline, the Ottawa-based think tank predicts that 195,000 families will live in high-rise apartments and 715,000 will live in all other forms of housing.
New construction builders are already exploring and executing family-oriented projects that will provide future Ontario households with the amenities and conveniences they desire.
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How to build a condo investment portfolio that’s enticing for downtown Toronto dwellers
With increased immigration targets planned into 2023, experts have predicted that Toronto housing is set to boom in the post-pandemic era. This means now is an advantageous time for pre-construction investors to buy property that will be enticing to future downtown Toronto residents in city communities that are slated to expand.
Returning immigrants and students provides “needed assurance” to those who may have lost faith in downtown living during the pandemic. Rising pre-construction prices shows that Toronto’s normal growth curve is back on track and is progressing as normal. Should supply levels keep up with market demand, Toronto’s landscape is poised for future growth.
The impediment to more growth is supply, so as long as that stays a topic and the governments comply and speed up some of the bureaucracies for land development, then the population and city scape will continue to grow as Toronto.
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With increased immigration targets planned into 2023, experts have predicted that Toronto housing is set to boom in the post-pandemic era. This means now is an advantageous time for pre-construction investors to buy property that will be enticing to future downtown Toronto residents in city communities that are slated to expand.
Returning immigrants and students provides “needed assurance” to those who may have lost faith in downtown living during the pandemic. Rising pre-construction prices shows that Toronto’s normal growth curve is back on track and is progressing as normal. Should supply levels keep up with market demand, Toronto’s landscape is poised for future growth.
The impediment to more growth is supply, so as long as that stays a topic and the governments comply and speed up some of the bureaucracies for land development, then the population and city scape will continue to grow as Toronto.
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What’s keeping Toronto developers from hitting 100 storeys?
Downtown Toronto will soon be home to some of Canada’s tallest residential buildings, many of which are slated to exceed a staggering 90 storeys or cross the 300-metre threshold to “supertall tower” status.
Richard Witt, principal at the Toronto-based architectural firm, and chair of the Canadian chapter of the Council on Tall Buildings and Urban Habitat (CTBUH), told his theories on why the city hasn’t seen a condo cross that threshold despite the race to build ever higher — including the simple fact that the pension funds and organizations that fund these mega-projects just aren’t all that fussed about arbitrary numbers.
One hundred storeys as a metric is vague. Different buildings have different floor heights – office versus residential in particular. Supertall is a well-established metric, a building of 300 metres. There are around 10 supertall towers planned and under construction.
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Downtown Toronto will soon be home to some of Canada’s tallest residential buildings, many of which are slated to exceed a staggering 90 storeys or cross the 300-metre threshold to “supertall tower” status.
Richard Witt, principal at the Toronto-based architectural firm, and chair of the Canadian chapter of the Council on Tall Buildings and Urban Habitat (CTBUH), told his theories on why the city hasn’t seen a condo cross that threshold despite the race to build ever higher — including the simple fact that the pension funds and organizations that fund these mega-projects just aren’t all that fussed about arbitrary numbers.
One hundred storeys as a metric is vague. Different buildings have different floor heights – office versus residential in particular. Supertall is a well-established metric, a building of 300 metres. There are around 10 supertall towers planned and under construction.
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Housing Market Snapshot for October 2021
قابل توجه خريداران و فروشندگان محترم خانه:
با يك تيم حرفه ای در زمينه فروش و خريد منزل رویایی شما از ابتدا تا انتها همراه شما هستيم.
خدمات ارائه شده:
- ارائه وام با کمترین نرخ بهره موجود در بازار
First, Second, Third Mortgages
- ارزیابی رایگان منزل شما Home Evaluation
- یافتن منزل رویایی شما با توجه به محل و بودجه
- دستیابی به اطلاعات کامل بازار جهت تصمیم گیری صحیح شما در هنگام خرید و یا فروش خانه
- خدمات ویژه برای خریداران بار اولی First Time Home Buyer
- خرید خانه برای سرمایه گذاری Investment Property
- تازه واردین به کانادا Newcomers
- غیر ساکنین کانادا Non-Resident
- خدمات بازسازی Renovation
☎️راههای ارتباطی با ما از طریق تلفن، ایمیل، واتس اپ، فیس بوک، اینستاگرام و تلگرام:
+1 (647) 772-9502
hoizady@yahoo.com
وب سایت ما:
https://www.homelifecimerman.com/Hojjatollah-Izady
فیسبوک ما:
https://www.facebook.com/Hojjatollah.Izady
اینستاگرام ما:
https://www.instagram.com/ihoizady/
واتس آپ ما:
https://wa.me/message/72TR24AJCPDPJ1
گروه تلگرام ما:
https://t.me/Buy_and_Sell
قابل توجه خريداران و فروشندگان محترم خانه:
با يك تيم حرفه ای در زمينه فروش و خريد منزل رویایی شما از ابتدا تا انتها همراه شما هستيم.
خدمات ارائه شده:
- ارائه وام با کمترین نرخ بهره موجود در بازار
First, Second, Third Mortgages
- ارزیابی رایگان منزل شما Home Evaluation
- یافتن منزل رویایی شما با توجه به محل و بودجه
- دستیابی به اطلاعات کامل بازار جهت تصمیم گیری صحیح شما در هنگام خرید و یا فروش خانه
- خدمات ویژه برای خریداران بار اولی First Time Home Buyer
- خرید خانه برای سرمایه گذاری Investment Property
- تازه واردین به کانادا Newcomers
- غیر ساکنین کانادا Non-Resident
- خدمات بازسازی Renovation
☎️راههای ارتباطی با ما از طریق تلفن، ایمیل، واتس اپ، فیس بوک، اینستاگرام و تلگرام:
+1 (647) 772-9502
hoizady@yahoo.com
وب سایت ما:
https://www.homelifecimerman.com/Hojjatollah-Izady
فیسبوک ما:
https://www.facebook.com/Hojjatollah.Izady
اینستاگرام ما:
https://www.instagram.com/ihoizady/
واتس آپ ما:
https://wa.me/message/72TR24AJCPDPJ1
گروه تلگرام ما:
https://t.me/Buy_and_Sell
Ontario’s Staycation Tax Credit Makes a Cottage Country Escape Even More Enticing
There’s a new reason to visit Ontario’s unforgettable Muskoka region (…and, one that actually makes it more affordable).
Adding to the enticement of exploring Ontario’s most picture-perfect spots, the provincial government just announced its plan for a staycation tax credit.
Anyone planning a getaway within the province in the 2022 tax year could be eligible for the “Ontario Staycation Tax Credit” program, which was announced as part of the Ford government’s Fall Economic Statement that was tabled last week.
Qualifying Ontario explorers will receive a 20% personal income tax credit on eligible accommodation between January 1 and December 1, 2022, up to a maximum of $1,000 for an individual and $2,000 for a family, for a maximum credit of $200 or $400 respectively.
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There’s a new reason to visit Ontario’s unforgettable Muskoka region (…and, one that actually makes it more affordable).
Adding to the enticement of exploring Ontario’s most picture-perfect spots, the provincial government just announced its plan for a staycation tax credit.
Anyone planning a getaway within the province in the 2022 tax year could be eligible for the “Ontario Staycation Tax Credit” program, which was announced as part of the Ford government’s Fall Economic Statement that was tabled last week.
Qualifying Ontario explorers will receive a 20% personal income tax credit on eligible accommodation between January 1 and December 1, 2022, up to a maximum of $1,000 for an individual and $2,000 for a family, for a maximum credit of $200 or $400 respectively.
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Who’s Really Right? Picking the Ideal Home Temperature
There’s one thing considered the most contested item in every household. No, not the TV remote—it’s the thermostat. It’s mere existence sparks controversy, conflict, and outright wars. We’re here to help settle those at-home battles over the thermostat using straight facts. Everything from our household members, to the time of day, the season, and different activities performed in your home play into what the ideal temperature is for your home.
Let’s see if you were really right all along, or if you’ll have to concede to other family members!
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There’s one thing considered the most contested item in every household. No, not the TV remote—it’s the thermostat. It’s mere existence sparks controversy, conflict, and outright wars. We’re here to help settle those at-home battles over the thermostat using straight facts. Everything from our household members, to the time of day, the season, and different activities performed in your home play into what the ideal temperature is for your home.
Let’s see if you were really right all along, or if you’ll have to concede to other family members!
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What exactly is room temperature?
Room temperature is described as the reading within a room using a thermometer, and is the temperature that an individual can remain comfortable at when fully clothed, usually between 20 C and 22 C. The WHO (World Health Organization) also recommends this range as a measure in maintaining overall good health and wellbeing.
Because everyone’s body temperatures and comfort levels differ slightly, the ideal room temperature differs from one person to the next. Room temperature itself will also change based on the season, as we tend to keep it slightly warmer during winter and cooler during summer to reduce heating and cooling costs to some degree (pun intended!).
While you’re awake
While it’s recommended to keep your thermostat set between 20 C and 22 C, this may not always be a comfortable setting for everyone. If you tend to run hot, you’ll want to stick to the lower end of that range or below, and the opposite will be the case if you run cool and need a little extra warmth to feel comfortable.
While you’re sleeping
It could be argued the temperature you set your thermostat to at night is the most important one. Why? Two primary reasons are Rapid Eye Movement (REM) sleep and infant health (for families with little ones).
Studies have found REM sleep is directly affected by the temperature of the room you’re sleeping in. Our bodies expend a great deal of energy to maintain our core temperature, but the part of the brain that controls thermoregulation shuts down during REM sleep. When your nighttime temperature is ideal, falling into REM sleep becomes easier. You might wonder why REM sleep is so important—this is the stage of sleep when your brain “recharges.” It’s when it processes and assimilates your experiences and memories and also prepares your mind for the next day’s challenges.
Infant health can also be impacted by temperatures that are too low or too high, since babies cannot regulate their body temperature yet. For these reasons, the Sleep Foundation recommends setting your thermostat to a range of 16 C to 19 C at night to promote a healthy sleep for adults and children over two, and setting the thermostat one-to-two degrees warmer for infants, but no greater than 20.5 C.
Chores and workouts
Our body temperature tends to increase with the exertions of household chores and workouts, which would make you think keeping as cool as possible is the way to go. Surprisingly, fitness experts suggest a range of 20 C to 21 C is ideal for a workout, as it’s cool enough for you to feel comfortable during physical exertion. This is good advice to follow for chores as well, given that similar levels of effort are required.
Your home office or virtual classroom
Now that many folks are working from home, the ideal temperature in your home office can have an impact on your performance and productivity. A Cornell University study discovered the cooler the office temperature, the less happy employees were and the more errors they made during the workday. The study suggested raising the room temperature from 20 C to 25 C reduced errors by 44% and increased keyboard output (productivity) by 150%, while also boosting a worker’s sense of happiness. So, don’t be afraid to raise your home office temperature to 25 C to elevate your productivity, accuracy, and mood!
If you’ve been wondering what the best temperature is for your resident virtual student, then it’s a safe bet that 25 C is it—unless, of course, they prefer a cooler temperature. If contention arises, this would make a fun science experiment!
When you’re away
HVAC experts recommend adjusting your thermostat down by 2 C to 5 C when you’re not home during the winter, and bumping it up similarly in the summer. This gives your HVAC system a breather, and you can save on energy and maintenance costs in the short and long terms.
While you may still have a battle on your hands with fellow household members over the right temperature in your home, you now have the knowledge for a more peaceful—and comfortable—outcome.
Room temperature is described as the reading within a room using a thermometer, and is the temperature that an individual can remain comfortable at when fully clothed, usually between 20 C and 22 C. The WHO (World Health Organization) also recommends this range as a measure in maintaining overall good health and wellbeing.
Because everyone’s body temperatures and comfort levels differ slightly, the ideal room temperature differs from one person to the next. Room temperature itself will also change based on the season, as we tend to keep it slightly warmer during winter and cooler during summer to reduce heating and cooling costs to some degree (pun intended!).
While you’re awake
While it’s recommended to keep your thermostat set between 20 C and 22 C, this may not always be a comfortable setting for everyone. If you tend to run hot, you’ll want to stick to the lower end of that range or below, and the opposite will be the case if you run cool and need a little extra warmth to feel comfortable.
While you’re sleeping
It could be argued the temperature you set your thermostat to at night is the most important one. Why? Two primary reasons are Rapid Eye Movement (REM) sleep and infant health (for families with little ones).
Studies have found REM sleep is directly affected by the temperature of the room you’re sleeping in. Our bodies expend a great deal of energy to maintain our core temperature, but the part of the brain that controls thermoregulation shuts down during REM sleep. When your nighttime temperature is ideal, falling into REM sleep becomes easier. You might wonder why REM sleep is so important—this is the stage of sleep when your brain “recharges.” It’s when it processes and assimilates your experiences and memories and also prepares your mind for the next day’s challenges.
Infant health can also be impacted by temperatures that are too low or too high, since babies cannot regulate their body temperature yet. For these reasons, the Sleep Foundation recommends setting your thermostat to a range of 16 C to 19 C at night to promote a healthy sleep for adults and children over two, and setting the thermostat one-to-two degrees warmer for infants, but no greater than 20.5 C.
Chores and workouts
Our body temperature tends to increase with the exertions of household chores and workouts, which would make you think keeping as cool as possible is the way to go. Surprisingly, fitness experts suggest a range of 20 C to 21 C is ideal for a workout, as it’s cool enough for you to feel comfortable during physical exertion. This is good advice to follow for chores as well, given that similar levels of effort are required.
Your home office or virtual classroom
Now that many folks are working from home, the ideal temperature in your home office can have an impact on your performance and productivity. A Cornell University study discovered the cooler the office temperature, the less happy employees were and the more errors they made during the workday. The study suggested raising the room temperature from 20 C to 25 C reduced errors by 44% and increased keyboard output (productivity) by 150%, while also boosting a worker’s sense of happiness. So, don’t be afraid to raise your home office temperature to 25 C to elevate your productivity, accuracy, and mood!
If you’ve been wondering what the best temperature is for your resident virtual student, then it’s a safe bet that 25 C is it—unless, of course, they prefer a cooler temperature. If contention arises, this would make a fun science experiment!
When you’re away
HVAC experts recommend adjusting your thermostat down by 2 C to 5 C when you’re not home during the winter, and bumping it up similarly in the summer. This gives your HVAC system a breather, and you can save on energy and maintenance costs in the short and long terms.
While you may still have a battle on your hands with fellow household members over the right temperature in your home, you now have the knowledge for a more peaceful—and comfortable—outcome.
Different Types of Investment Properties and What to Consider
When it comes to investment properties, there’s a lot to take into consideration. Aside from the financial and tax responsibilities, finding an investment property that makes sense for your situation requires some serious soul-searching.
It’s best to take a look at some of the pros and cons before getting into the market, as each type comes with its own set. However, there are some pros and cons that apply to every type of investment property. One pro, of course, is you’ll have a second income—always a plus. The biggest con for any investment property is you’re not guaranteed to have tenants at all times, which means that second income may not be consistent. As the landlord you’re also on the hook for any repairs or issues that need to be dealt with.
Let’s walk through some of the other pros and cons of the most common investment properties to see which one suits you best.
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When it comes to investment properties, there’s a lot to take into consideration. Aside from the financial and tax responsibilities, finding an investment property that makes sense for your situation requires some serious soul-searching.
It’s best to take a look at some of the pros and cons before getting into the market, as each type comes with its own set. However, there are some pros and cons that apply to every type of investment property. One pro, of course, is you’ll have a second income—always a plus. The biggest con for any investment property is you’re not guaranteed to have tenants at all times, which means that second income may not be consistent. As the landlord you’re also on the hook for any repairs or issues that need to be dealt with.
Let’s walk through some of the other pros and cons of the most common investment properties to see which one suits you best.
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Duplexes
Duplexes are popular choices for investors looking to be close to their property—really close. They can also be great family investments, allowing different generations to live under the same roof but with private dwelling spaces. There are additional tax deductions available to you as well when you live on the property! Typically, work done to common spaces such as your yard, roof, or adjoining wall can be written off at 50% if the duplex is owner-occupied. Some people also consider the proximity to your investment to be a pro. If issues arise you can deal with them in a timely manner, plus you can keep an eye on how your tenants are treating the space. If you’re not living in the space and are instead choosing to rent out each portion of the duplex, the biggest advantage is collecting that additional rent.
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Duplexes are popular choices for investors looking to be close to their property—really close. They can also be great family investments, allowing different generations to live under the same roof but with private dwelling spaces. There are additional tax deductions available to you as well when you live on the property! Typically, work done to common spaces such as your yard, roof, or adjoining wall can be written off at 50% if the duplex is owner-occupied. Some people also consider the proximity to your investment to be a pro. If issues arise you can deal with them in a timely manner, plus you can keep an eye on how your tenants are treating the space. If you’re not living in the space and are instead choosing to rent out each portion of the duplex, the biggest advantage is collecting that additional rent.
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On the flip side, duplexes can be more expensive to purchase, which puts you at a bigger risk if you can’t find tenants. It can also be harder in general to find tenants for duplexes, as more and more people are looking for privacy and larger spaces. Living attached to your tenants, albeit in a designated space, can also be a bit strange depending on who they are. If you’re not choosing to live in the duplex, you’ll have double the tenants to find—and double the repairs to deal with.
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Single family homes
Over the last 18 months, single-family homes have been in demand as buying trends have changed. With an increase in working and schooling from home, the need for space has become paramount. Because of this shift, single-family homes could potentially be more attractive as investment properties.
Let’s start with the pros! In comparison to a full duplex, single-family homes are typically less expensive (depending on the home), which could see higher gains in your net income. Plus, the market for single-family homes is hot right now, meaning if you need or want to sell your property you’ll likely have an easier time doing so. From a rental perspective, single-family homes tend to attract longer-term tenants, providing a sense of stability to your financial situation.
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Over the last 18 months, single-family homes have been in demand as buying trends have changed. With an increase in working and schooling from home, the need for space has become paramount. Because of this shift, single-family homes could potentially be more attractive as investment properties.
Let’s start with the pros! In comparison to a full duplex, single-family homes are typically less expensive (depending on the home), which could see higher gains in your net income. Plus, the market for single-family homes is hot right now, meaning if you need or want to sell your property you’ll likely have an easier time doing so. From a rental perspective, single-family homes tend to attract longer-term tenants, providing a sense of stability to your financial situation.
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