Condo fees are a big part of the cost of owning a condo. If they are too high, they can make monthly expenses unaffordable, and can affect your resale value. What happens if they are too low? I was reading this great post over on the Toronto Realty Blog about how low...
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Condo insurance
When buying a condo, many people know that the building is required to have insurance. The issue is when they assume that the building insurance also covers everything inside their unit. If you rely on the building's insurance, the first problem is that their...
How to plan for resale value
Many people buy a home with plans to sell it again - either they are buying a starter home, or they are buying an investment that they intend to flip and sell for a higher value. Flipping isn't as easy as it looks on TV, though. If you are planning to sell, keep these...
Buying a house for $1
Gary, Indiana has had a lot of troubles over the years. A prosperous steel town in the 1960s,when it was home to the Jackson 5, its population has plummeted by half since then, and unemployment rates have risen. One of its many problems is a high percentage of homes...
Flood preparedness
With the recent major flooding in Alberta and serious flooding in Toronto, I thought I would write a bit about flood preparedness. Here are some things to keep in mind: 1. Check your sump pump. The sump pump keeps water out of your basement. Most run on electricity...
Do you have to disclose if someone died in your home?
Generally, you are not required to share information about the house as long as you don't hide anything or deliberately lie about anything. You do not have to offer information that your spouse or parent died at h0me, or that there was a suicide or even a murder in...
Executions
No, not the scary kind. Today’s topic: writs of execution in the sheriff’s office, and what this may mean on the sale of your home. If you owe child support or spousal support, or lost a lawsuit and didn’t pay the judgement, or owed money to the bank that you skipped...
Who owns the lake bed?
Here’s an interesting conundrum as we move further into summer: what happens if the water’s edge changes? There has been a very serious issue with Ontario’s lakes shrinking year over year. I was at a friend’s cottage last month and she was pointing out the rock they...
SPIS
A Seller Property Information Sheet is a form designed to give buyers additional information about the house. It asks sellers to list any known defects, pending work orders or tax increases, oversight by any regulatory body such as conservation authorities, etc. The...
What exactly am I paying for?
I get a lot of calls from people looking for quotes on my real estate fees. I completely understand; whenever I am thinking about a big purchase, I shop around too. What I wanted to talk about today was what, exactly, you need to keep in mind when you're doing your...