In Ontario, changing who owns a property—whether by adding a spouse, removing a former partner, or gifting a share to a child—is not as straightforward as it sounds. You can’t simply “add someone to title” or “take someone off.” From a legal and tax perspective, every change is considered a property transfer, and it often […]
What Ontario’s Bill 10 Could Mean for Landlords in 2025 If you own rental property in Ontario, there’s a new piece of legislation that should be on your radar—Bill 10, the Protect Ontario Through Safer Streets and Stronger Communities Act, 2025. While it hasn’t passed into law yet, it’s working its way through the Ontario […]
As you prepare to hand over the keys to your home’s new owners, it’s important to leave the property in good condition. A well-maintained and clean home creates a positive final impression and ensures a smooth transition. Below are some guidelines to help you meet buyer expectations. General Cleaning & Maintenance Kitchen & Appliances Bathrooms […]
A vacant land condominium (VLC) in Ontario is a type of condominium development where individual owners purchase vacant lots within a shared community. While the land is privately owned, common areas and services are maintained collectively by the condominium corporation. Here are the key benefits: 1. Ownership of Land & Customization 2. Shared Maintenance & […]
One of the biggest misconceptions about mortgage brokers is that using one is expensive. In reality, most mortgage brokers in Ontario do not charge you a fee for their services when you are applying for a standard mortgage with a prime lender (such as a bank or credit union). Instead, they are paid a commission […]
In Ontario, a mortgage pre-approval is a lender’s conditional commitment to loan you a specific amount of money for a home purchase, based on an initial assessment of your financial situation. Here’s how the process works: 1. Applying for Pre-Approval You’ll need to provide the lender with:✅ Income Verification – Pay stubs, T4s, employment letter, […]
Additional Residential Units (ARUs) are self-contained dwelling units located within the same building or on the same lot as an existing residential unit. ARUs aim to improve housing diversity, affordability, and sustainable land use in London. This guide provides comprehensive information on planning, creating, and understanding ARUs in London. Types of ARUs: There are four […]
Bill 23, known as the More Homes Built Faster Act, 2022, introduced significant changes to Ontario’s land use planning and development framework, with implications for London City Council’s policies and by-laws. These changes aim to address the housing crisis by facilitating the construction of 1.5 million new homes over the next decade. Key amendments introduced […]
Summary of FTHBI Program Incentive 5% for existing homes, 5% or 10% for new builds Benefit Reduces monthly mortgage payments Repayment No ongoing payments, non-interest bearing, repayable at any time without penalty Eligibility First-time homebuyers, income and property type restrictions apply Property Types New construction, re-sale home, new and re-sale mobile/manufactured homes Equity Sharing Government […]
The standard Purchase and Sale Agreement in Ontario gives the buyer two options when it comes to real estate deposits: 1. pay the deposit at the time of making the offer – “herewith” or 2. within 24 hours of the having the offer accepted – “upon acceptance”. Most buyers prefer the latter as there is no point in […]