Tyler Tim Realtor

There is an ever increasing popularity of condos amongst the general public which has two demographics who are primarily interested in this style of living. Young adults and baby  boomer's  account for most condo purchases or rentals. For young adults, in the mid to low twenties, they are purchasing condos to be close to urban activities and since many are choosing to live a car-free lifestyle, condominiums are the choice for them. If you’re a young adult you should consider renting your condo rather than buying because generally young adults move out of condos after five years to find a bigger place. This is common with people wanting to start a family who decide to purchase houses to grow into. If you do purchase the condo, you can use it as an investment after you move out of the place. Looking at the baby  boomer's , there are a vast amount of them moving into condos as well. For baby  boomer's  they are primarily looking to downsize and ...

RBC is reporting in the first quarter of the year that it will become more difficult for Canadians to purchase a home as the affordability index has declined. This coupled with the rising house prices, puts Canadians in a deep hole. Now I know what you are thinking what is the affordability index anyway? The affordability index is a percentile measurement of before taxes household income that is needed to service the cost of owning a home at current market prices. The 3 main payments include; * Mortgage * Utilities * Property Taxes This increase as it affects residents of Ontario sees an affordability index of 44.9% for bungalows and 51.0% for two storey homes. While this all does seems bad, RBC has stated that interest rates will not be on the rise until the middle of next year. A forecast by the Canadian Mortgage and Housing Corporation sees the average price of a home increasing to $396,000. The biggest thing to consider now is that this index will be affecting new ho...

Thinking about moving? Why not buy a Condo!   Over $20 billion worth of condominiums are under construction across the Greater Toronto Area with an expected 25,000 units to be completed by the end of 2014.  The completion of all these condos will certainly make it a buyer’s market throughout 2014 especially with housing prices on the rise.  Mississauga is one of the surrounding cities that is allowing for a vast amount of condominium investment in its city. Still not sold on the idea of living in a condominium? Here are some of the benefits of condo living: Often situated in prime locations  More affordable than a single family home Low Maintenance   Equipped with many amenities To get a full list of the pros and cons of living in a condominium check out this link below: Condo vs House Benefits & Drawbacks