Tyler Tim Realtor

As if things couldn't get any more expensive, home prices will be on the rise again due to lower interest rates and high demand for homes in Canada. An average of 5% to 6% will be gained for homes by the end of the year. These low interest rates have helped condo buyers with the affordability, but these lower rates sees the returns of previously interested buyers who further drive up the demand. Still as the average prices is increasing, TD economist Diana Petramala believes that we will enter a buyer based market. Bargaining power will grow and price pressure will ease giving buyers more control in the market. Condo prices are also predicted to take a hit as the prices are expected to fall by 2% in the following year, and more construction is already underway to help satisfy the demand of buyers. This price fall will make condos become less appealing as an investment property. Single family homes have already shot up 8% this year with an additional 2% expected by the end o...

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...

In an effort to help pay for infrastructure costs development charges will increase up to 54%. Those looking to purchase a newly constructed house will have to dig even deeper in their pocket. A 54% increase in development charges will result in a rising fee upwards of $10,000. While the 54% seems steep, another proposal for a 75% increase in charges for multiple separate housing units. At the end of the day here are your final charges; New house buyers will be paying $26,110 Apartments will increase to $17,326   Mississauga has the highest average home price in Canada with $522,804. It is important to note that while costs maybe high and an extra $10,000 out of your pocket may appear costly, Mississauga is still becoming the prime location for new home buyers in the Greater Toronto Area. Now that you know the costs don't forget to assess your needs before engaging in the purchase of a newly constructed home. Check out the link for more details Hike in Development Ch...

Many housing developments are underway across the Greater Toronto Area and the demand for detached houses is growing. With not that many houses on the market, it has caused a bidding war amongst buyers which is a great sign for sellers. Although many are purchasing condos, housing seems to be the path of choice for families. There is a new housing project under construction in Brampton with detached and semi-detached houses up for grabs. Brampton is well on its way to being one of the largest cities in Canada with the population continuing to grow. Located near McLaughlin Road & Sandalwood, the available units start from 1200 Sq Ft to 3200 Sq Ft and can accommodate all preferences, whether you looking for a starter home or looking for a house to start a family and grow into. The homes are built with real brick and stone, with traditional design sense incorporated into the home, while still maintaining an open concept feel. The housing complex will neighbour five differen...