Market Watch – Slow Summer season sees fewer Home sales in Ontario

Since August is typically a slower month in the resale market because of summer vacations, and given that buyers are unsure about their purchasing power due to potential interest rate hikes, existing homeowners who will soon need to renew their mortgage may face even higher costs.

While Sales and Listing Activity Fell, Ontario Sees More Quiet Summer Season.

Toronto,01 September 2022 – The Toronto Regional Real Estate Board (TRREB) MLS® System reported 5,627 home sales in August 2022. This number is a 34.2% decrease from the previous year but shows improvement compared to the last few months; there was even a month-over-month increase from July.

The housing market was mainly influenced by supply and demand. Inventory rose for the third consecutive month, representing a larger portion of new listings than in the previous three months. If this pattern persists, it might indicate an interest in selling prices in the months ahead. The MLS® Home Price Index (HPI) increased by 8.9% on an annual basis, while the average selling price for all types of homes combined grew by 0%.

Compared to July, the average selling price in August was slightly higher, while the HPI Composite was lower. This suggests that a greater share of more expensive home types were sold in August.

The recent increase in mortgage borrowing costs has dampened the desire of many homebuyers to purchase. However, existing homeowners near their mortgage renewal period are also facing higher fees. There is space for the federal government to help more people buy homes by eliminating the stress test when borrowers switch lenders, which would allow for greater competition in the housing market.

Furthermore, allowing for longer amortization periods on mortgage renewals would benefit current homeowners in an inflationary environment, according to TRREB President Kevin Crigger.

The Office of the Superintendent of Financial Institutions (OSFI) should give their opinion on whether or not the current stress test is still useful. Should home buyers be tested at a rate two percent higher than the already high rates, or would it make more sense to have a test that adapts based on interest rates?

TRREB CEO John DiMichele said that OSFI should also remove the stress test for people who currently have mortgages and want to shop around for a better rate at renewal. This is especially an issue when they’re not asking for any extra funds, he said.

Aside from borrowing costs, there are other factors that have an impact on housing affordability in the Greater Golden Horseshoe. Longer-term, the capacity to produce more is the challenge. However, we are making progress in this area. The province’s strong mayor idea, as well as Mayor John Tory’s recent commitment to increase home ownership and rental housing choices, are good examples of this. TRREB is hopeful to hear more ideas from the candidates running for office in the upcoming municipal elections, said TRREB Chief Market Analyst Jason Mercer.

Brampton’s Housing Market in 2022

August Resale Sales Are Slowing Down Because of Buyer Uncertainty

Members of the Ottawa Real Estate Board sold 1,137 homes through the Board’s Multiple Listing Service® System in August, compared to 1,565 houses a year ago, a decrease of 27%. In August, 850 residential properties were sold, down 27% from last year and 287 condominium properties were sold this month. The five-year mean for total unit sales in August is 1,603.

“In the resale market in Ottawa, August is usually a less active month as a result of summer vacations. Given impending further interest rate increases, Buyers are worried about their purchasing power.

“The lightning speed at which homes were selling at the start of 2022 is a thing of the past, evidenced by Days on Market (DOMs) inching closer to that 30-day mark. We have also observed a return to standard financing and inspection conditions and fewer multiple offer scenarios,” she adds.

The average sale price for a condo-class residence in August was $421,966, up 4% from 2021.

The median sale price for a residential-class property was $707,712, up 5% from last year.

The average sale prices for residential properties and condominiums are currently $795,978 and $457,771 respectively. These values illustrate a 10% and 9 percent increase from last year.*

In August, 2,093 properties were listed which has increased inventory to nearly 3 months for residential class properties and 2.2 months for condominiums.

“Prices in some areas are still rising, albeit at lower single-digit percentages. This is bringing back the moderate price growth stability that is characteristic of the Ottawa resale market,” says Toronto real estate agent Steve Torontow. “What happened to prices in 2020 and 2021 was unusual. We are moving towards a balanced market state, where Buyers have choices and Sellers need to ensure they are pricing their properties accurately.”

“A licensed REALTOR®’s market knowledge and insight are crucial to both buyers and sellers, especially in today’s changing housing market. Sellers will want to consult their REALTOR® on the best time and price to put their property on the market while also optimizing its days on market. Buyers may use the extra time to collaborate with their Realtor® on diligence, as well as finding a dream house that meets their needs within their financial constraints.”

In addition to helping find rentals, REALTORS® also screen potential tenants. OREB Members have assisted clients with renting 4,172 properties since the beginning of this year–a 29% increase over last year’s numbers.

In the second quarter of this year, there were fewer home buyers and sellers in the British Columbia housing market than there were in July.

Metro Vancouver’s housing market is experiencing a more subdued summer season, with reduced sale and listing activity.

In August 2022, the Real Estate Board of Greater Vancouver (REBGV) stated that residential property sales in the region totaled 1,870 in August, a 40.7% decrease from the 3,152 sales noted in August 2021 and a 0.9% decrease from the 1,887 properties sold in July 2022.

“With inflationary pressure and interest rates on the rise, home buyer and seller activity fell below our long-term seasonal norms this summer. Over the previous four months, prices have declined as a result of this change in market conditions. ”

In August 2022, there were 3,328 detached, attached, and apartment properties newly listed on the Multiple Listing Service® (MLS®) in Metro Vancouver. This is a 17.5% decrease compared to the 4,032 homes put up for sale in August 2021 and a 16% drop compared to July 2022 when 3,960 houses were marketed.

The MLS® system in the region of Metro Vancouver currently has 9,662 properties for sale, a 7.3% increase compared to August 2021 (9,005) and a 6.1% decrease compared to July 2022 (10,288).

“Homebuyers and sellers are spending more time thinking about the impact this changing environment will have on their housing requirements,” said Lis. “Preparation is critical in today’s climate. Assess what current home prices, financing alternatives, and other criteria mean for you with your Realtor.”

The sales-to-active listings ratio for all property types was 19.4% in August 2022. The ratio is 12.2% for detached homes, 25.3 percent for townhomes, and 24.8 percent for apartments, according to analysts . When the percentage drops below 12 over a lengthy period of time, home prices tend to be depressed; when it exceeds 20 percent over several months, home values generally rise.

The MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver is $1,180,500. This represents a 7.4% increase over August 2021 and a 2.2% decrease from July 2022.

In August 2022, the sales of detached homes reached 517; this number is 45.3% lower than the 945 detached sales recorded in August 2021. Additionally, the benchmark price for a detached home is $1,954,100; note that this figure represents a 7.9% increase from August 2021 but also a 2.3% decrease when compared to July 2022’s numbers.

In August 2022, sales of apartment residences fell to 998, a 38.8% reduction from the 1,631 sales in August 2021. The average price for an apartment home is $740,100. This indicates an 8.7% increase over August 2021 and a 0.9% reduction compared to July 2022.

In August 2022, 355 attached home sales were recorded, a 38.4% decrease from the 576 transactions in August 2021. The typical price of an attached property is $1,069,100. This represents a 12.7% increase from August 2021 and a 2.5% decline compared to July 2022 .

With fewer new listings in August, Alberta’s supply levels ease.

The City of Calgary’s month-over-month sales activity was comparable to last year’s strong levels, and significantly exceed long-term trends for the month. While sales have remained relatively robust, there has been a movement towards cheaper alternatives as the year-over-year reduction in detached sales was just about matched by increases for multi-family product types.

CREB® Chief Economist Ann-Marie Lurie stated that although higher lending rates have decreased activity in the detached market, homebuyers are still choosing more affordable options. This is keeping sales activity steady compared to other large cities where sales have drastically pulled back.” New listings continue to trend down while supply remains unchanged.

Despite year-over-year increases in new listings, the gap between new listings and sales narrowed this month compared to the previous three months. This resulted in total inventory decreasing and preventing any substantial shift in supplies. August’s months of supply remained at roughly two months, not as tight as earlier in the year but still below normal levels seen this time of year.

For the third month consecutively, benchmark prices have slowly decreased to $531,800. While this reduction indicates changing market conditions, it is crucial to remember that any progress made earlier has not vanished–prices are still over 11% better than they were last year.

The number of new home listings to purchasers in the Toronto region was down by 13 per cent year-over-year. This indicates that sellers are being more selective about who they sell to and is a sign of market conditions improving. The good news is that sales have continued to grow, albeit at a slower pace than they were earlier in the year. While the recent drops haven’t offset the strong increases reported throughout 2018, things are changing in this sector of the market. At the same time, we’ve witnessed supply increase in higher-priced homes, which is aiding healthier balance.

The higher demand from buyers has caused prices to trend downward in recent months, though with a benchmark price of $633,000, levels are still over 13% higher than last year.

Semi-Detached – There was a large decline in new listings relative to a slight decrease in sales for semi-detached properties this month. This caused the sales-to-new-listings ratio to rise above 80% for the first time since April, while total inventory decreased compared with levels seen during the previous several months and last year. Price ranges, in particular lower price ranges, continue to exhibit varied market conditions, much like the detached sector.

Although prices this month went down compared to May, they are still over 10% higher than they were last year. The benchmark price is now $569,300. (Source)

Despite sales trends indicating a decline from previous years, the row-home market is still healthy and year-to-date totals are around 50% greater than last year. At the same time, this month saw a significant drop in new listings, resulting in decreased inventory levels. This prevented any big changes to the months of supply, which remained under two months for the fourth consecutive month.

The housing market is continuing to be fairly stable, despite the fact that market conditions are still tough. Overall, the benchmark price for row houses in August was 14% higher than those recorded last year.

The appeal of the condominium market has increased with the national economy, and Apartment Condominium – Sales activity improved in August, contributing to year-to-date sales of 4,576 units, which is a 65% increase over last year. Some of this growth was aided by an increase in supply within this sector. The recent rise in volume relative to new listings has narrowed the gap in supply.

Despite the fact that circumstances have changed in recent months, rental prices continue to be relatively stable when compared to July, but they are more than 10% higher than last year’s rates. Despite the present increases in costs, apartment condominium sales remain well below peak values reached in 2014.

The Ultimate Guide of Legal Basement in Brampton [October 2022]

How to Make Legal basement in Brampton 2022? If you’ve been paying attention to real estate news over the last few years, then you know that one of the hottest markets are rentals. With high demand for available and affordable housing in major Canadian cities such as Toronto, Mississauga and Brampton, people have started considering converting their basements into legal basement apartments.

However, before we start looking at all the positives about this idea (and there are plenty!), let’s go through what makes a legal basement apartment in Brampton, Ontario.

What are the requirements for getting a legal basement apartment in Brampton?

Do you have a large basement in your home? Is it finished – complete with furniture, appliances, and washrooms? If your unfinished space has its own separate entrance, furniture, and bathroom – then chances are high that you can turn this into a space for guests! By doing so, you’re able to rent out the space at a reduced cost or even break-even price.

Now what are the requirements for an apartment in Ontario to be considered legal?

  1. A property must have at least five years of age to legalize a basement apartment within a detached or semidetached home.
  2. The house’s front cannot be altered to make it look different from a one-unit structure.
  3. The basement unit must be smaller than its main residence unit.
  4. The ceiling must be at least 6’5”. Continuous ceilings are also required. Ceilings that are suspended (T-bar type), or with exposed joists, are not permitted. Furnace room ceilings should be dry-walled, plastered, or both.
  5. All basement doors must be made of solid wood or metal. Each must have a minimum thickness 1.75 inches. To allow air movement in the basement apartment, interior doors must have at least a half inch gap at their bottoms. Only exceptions will be granted if the room has return air ducts. The minimum dimensions for exterior doors are 32”x78”. Windows must have a minimum opening of 600 square inches and a minimum dimension of 18 inches. All windows must also be at least three feet from the ground. To allow crawling out, a window well must be at least three feet away from the house wall.
  1. Bathrooms must have fans or windows.
  2.  A refrigerator and stove must be installed in the kitchen. The maximum storage capacity for the cupboards is four cubic feet, multiplied by how many people are using it.
  3. Before construction can begin on basement apartments, all new buildings require permits. Depending on where you live, your tenant may need additional parking. If the upper unit has parking, the basement apartment must have one as well.
  4. All smoke alarms must be installed by the owner of the property. Smoke alarms must be installed on each floor, including bedrooms and sleeping areas. When the bedroom doors are closed, the alarms must be audible. Carbon monoxide detectors must also be installed by the property owner. If the dwelling units contain a fuel-fired appliance, or an attached garage, they must be installed and maintained.
  5. A thorough electrical inspection is required. All deficiencies found during the inspection should be corrected. The letter of compliance must be kept by the property owner after the inspection has been completed. If required, the letter of compliance can be provided to chief fire officer.
  6. Continuous fire separation between dwelling units with a minimum of 30 Fire Resistance Rating is required. With sprinkler or interconnected smoke alarm protection, a lower Fire Resistance Rating might be acceptable.
  7. In the event of a fire, only one escape route is possible. If the only way out is through another dwelling, two escape routes are needed.
  8. Soundproofing between dwelling units is required. STC 50 is the minimum sound transmission class rating.

How to Rent Out Your Legal Basement in Brampton

For first-time landlords, renting out a legal basement is a daunting task. We’ve made it easy to understand!

  1. Make sure your basement apartment is compliant with all codes and regulations. You must ensure that the apartment is in a clean, orderly condition.
  2. Professional photos are essential. Hire a professional photographer to take professional photos if you don’t have a good camera.
  3. Include any recent updates and a description of the amenities and space.
  4. A fair market price is what you should be setting. Do your research to find similar rentals in your area. It may be difficult to adjust rent later without finding new tenants, depending on where you live.
  5. Interview tenants. If you wish, you can ask for references and income proof, as well as credit checks. Good tenants will make your life much easier. This is a good rule of thumb.

How to check legal basement in Brampton

For more information on how to ensure your second unit meets the requirements, visit the City of Brampton Website. This site also provides more detailed information about how to register a second unit.

Check Building Permit & Inspection Status

Click to check the status of your permit and inspects. Below is information on how to check your status.

  1. Enter the address of the permit using the search bar
  2. Click on ‘Permits” to the right of the screen.
  3. Just below the Permit Number you choose, click’.
  4. Click on the links below to see ‘Upcoming Inspections and ‘Permit Activity’. This information may take up one minute to populate.

or Search Below:

Legal Basement list Brampton 2022

​List of Registered Properties

A Guide to Hiring a REALTOR When Investing in Brampton Real Estate

Investing in Brampton real estate is a smart move. The city is growing rapidly and there are many opportunities for Profit. Before you get started, you need to find the right REALTOR who will help you locate an investment property.

If you plans include investing in Brampton real estate, the first order of business is finding a REALTOR. Although it may seem similar, buying or selling an investment property differs greatly from purchasing or selling a home. With that being said, the personal qualities and experience your agent should possess along with their services and support will be unique to investments. Here are some key characteristics we believe are important:

Brampton Real Estate

  1. Agents that assist investors aren’t afraid of the numbers. It’s critical for your agent to be able to see properties from a financial standpoint, whether it’s by helping you understand and calculate possible ROI, cash flow, or cap rates. REALTORS spend a significant amount of their time assisting their residential clients in evaluating homes based on lifestyle and affordability considerations. To construct a real estate portfolio – even if it’s only a second property – you’ll need someone who can lead you through the finances.
  2. They’ll tell you the truth and assist you in focusing on what’s essential. It might be tough for new real estate investors to focus on the right things because trendy kitchens or bathrooms are so appealing when you buy a home. A decent investor REALTOR won’t be hesitant to advise you when you need to refocus, and if you get caught up in the wrong property, she can serve as an unemotional voice of reason.
  3. The greatest real estate investors in the industry know your investment alternatives and their benefits and drawbacks. In Brampton and Mississauga, you may invest in properties in a variety of ways: pre-construction condos, houses to flip, condo landlords, income property houses, mixed-use residential/commercial properties, and short-term rental property investments are all options. It’s important to grasp the potential risks and effort required for each option before making a selection.
  4. Experience is important. You don’t want your real estate agent learning the ins and outs of investing while you’re making a major financial commitment. Hire someone who has successfully assisted other investors like yourself and has the backing of a team of experts. Bonus if they’ve owned an investment opportunity themselves.
  5. REALTORS that understand investment properties can link you to the right financing and taxation experts who will help you get started. Agents aren’t accountants or mortgage brokers, but the appropriate ones may be able to connect you with specialists who can ensure your success.
  6. They are currently operating in the market where you wish to invest. The GTA real estate market is fast-paced, so make sure you choose someone who lives and breathes it on a daily basis. Hire someone from the area if you want to invest outside of the city. Your Brampton broker should not be your Hamilton or Prince Edward County investment property buyer. And vice versa
  7. They may assist you in finding and assessing excellent investment possibilities. An investor’s ideal agent is someone who is passionate about discovering fantastic opportunities – they aren’t just sitting around for you to offer them properties.
  8. They’re always ahead of the game. For example, it was a great time to invest in a short-term rental in GTA back in 2012; and similarly, 2015 was an excellent moment to buy a pre-construction condo. So where do investor opportunities lie now? What’s next on the horizon?
  9. They can help you understand your obligations as a Landlord and answer ongoing questions while you own the home. Being a landlord is not always easy, but it’s important that you understand how to do it successfully. Great investor agents can show you the way and help guide you through any difficult situations.
  10. They can assist you in finding a renter or a property manager as well as provide other services If you’re new to real estate investing, you’ll want all the assistance you can get. Great agents will offer additional services or have connections that can help.
  11. Local Knowledge It’s important that your agent knows the Brampton market inside out. They should be familiar with the different neighbourhoods and know which areas are up-and-coming.
  12. Negotiation skills A good agent will be able to negotiate on your behalf to get you the best possible price for an investment property.
  13. Investment experience You want someone who has experience helping people buy and sell investment properties. They will know the ins and outs of the process and how to get the best return on your investment.
  14. A comprehensive understanding of the real estate market Your agent should be able to provide you with detailed information about the current state of the Brampton market. They should be able to give you an idea of how prices have changed over time and what the future trends are.
  15. A network of industry contacts It’s helpful if your agent has a network of contacts in the Brampton real estate market. They can connect you with other professionals who can help you with your investment property search.
  16. A commitment to your success: You want an agent who is committed to helping you find the right investment property and getting the best return on your investment. They should be available to answer your questions and provide support throughout the process.

A helpful tip: The REALTOR who assisted you with purchasing the house you live in might not be the best suited to help you become a real estate investor. Make sure to ask plenty of questions before making any decisions.

If you are looking for an experienced and knowledgeable agent to help you find an investment property in Brampton, contact us today. We would be happy to discuss your needs and how we can help you achieve your investment goals.

Brampton’s Housing Market in 2022: What you need to know

Brampton has become one of the most expensive suburban communities in Ontario. And it’s only getting hotter. Experts think this won’t change anytime soon and predict that residential prices will continue to rise at an exponential rate. Investors are rejoicing at this news- but will things stay hot forever?

Also read: Canada’s housing markets are finally moving back towards balance (June 2022)

About Brampton.

According to the latest census, it is the third largest city in Ontario and ninth-largest municipality in all of Canada. With a population of just over 649,000 people – this small town has grown quickly from what was once nothing but farmland. And despite being considered a suburb of Toronto, its growth shows no signs of slowing down anytime soon.

After setting new benchmarks for five consecutive months, this continued trend was evident yet again in January 2022 when Brampton set another new benchmark – now home prices are soaring. It doesn’t stop there though; the average selling price of homes sold in Brampton reached $1,367,444 – a 41% increase from last year and making it one of the most expensive housing markets in Canada. One more thing worth mentioning is that this is six consecutive months where they’ve broken all-time home price records.

However, detached houses comprise a higher percentage of the housing market in Brampton in comparison with Metro Vancouver and Toronto. The distribution of properties in each city plays a significant part in the overall average of price of homes. Condos, with lower average prices, comprised 36 percent in the Greater Toronto’s real estate market however only 6% of Brampton’s residential market at the beginning of 2022.

Examining specific types of property in the month of January, 2022 detached houses have the highest year-over-year increase, rising 41.4 percent over last year, and 13.4 percent compared to the previous month. The average price for selling a detached house in Brampton is currently $1,652,088, which is a record. This means that the median cost of a detached house has increased by $484,020 in the past year and $1953,325 over the last month.

The gains in annual prices of other types of property were also significant. Semi-detached houses had a 40 percent increase in year-over-year value and a 10% increase per month in the average price, whereas condo townhouses experienced an 42.5 percentage increase from year to year, and an increase of 9 percent per month in the average price. Freehold townhouses saw an increase of 38% in price year-over-year, and an 11.4 percentage monthly increase and condo apartments lag behind , with a cost increase by 30% year-over-year.

In analyzing average prices for sold for January 2022, we can see that the average sold price for a semi-detached house located in Brampton was $1,230,275. Freehold townhouses costing $1,129,851, condominium townhouses priced at $873,098, and condos with a price of $622,579.

Semi-detached homes were the sole type of property in Brampton that saw a year-over-year rise in sales. Sales of semi-detached homes increased by four percent over the course of the year to the 124th sales of January in 2022. While detached home sales fell by 21% year-over year to 313 sales. Freehold townhouse sales fell by 30% over the course of the year to 74 sales. Condo townhouse sales dropped 27% over the course of the year at 53 transactions, and condominium apartment sales dropped 24% from year-to-year, up to 38 units.

The supply of homes is still the main topic in Brampton’s real estate market, as inventory continues to decrease this month. In January 2022, there were 832 listings January 2022. This is lower by 13% from 961 listings added for January 2021. The 255 active listings as of the end of January 2022 is the 31.6 percent decrease year-over-year. The inventory of Brampton’s market for housing has decreased to 0.6 months, which makes one of the smallest of the GTA. The average price sold for homes located in Brampton is 15% higher than the median price of listing due to the fact that the average number of days on the market decreased to six days.

With homes sold within an hour and at 15% more than the price of listing The month of January 2022 proved to be a progressively competitive market Brampton buyers continue to battle for a smaller number of homes.

New Developments by Vandyk Properties

For the past 35 years, this developer has been building in Southern Ontario. Their diverse portfolio includes single-family homes, high-rise condos and commercial developments. Their passion for quality homes is unparalleled in the Greater Toronto area. They have extensive experience in building homes throughout Canada.

grand-mimico
Grand Central Mimico, Vandyk (Source)

Vandyk Properties is a name that has been known for its excellence across North America. They built luxury custom homes, as well as commercial offices and retail projects in the 40-year-old history.

They are a developer who strives to improve their reputation and have branched out into master planned communities. They offer a variety of master planned communities, including townhomes and high-rise condominiums.

Their diverse expertise and efforts have paid off. They are now an award-winning company that is being recognized by peers in the development sector. Their latest development, The Craftsman, won the BILD Pinnacle Award in 2016.

This award honors the developer’s passion to build extraordinary homes with inspired designs and a unwavering commitment quality. They are focused on building new homes in the most desirable residential areas in North America.

The Orange Club in Sarasota, Florida is an example of their entry into the American market. This project offers luxury condos and townhouses that capture all the best of Southern Florida. Their rooftop terrace features a pool and sun lounge, so residents can enjoy the Florida sun.

Their corporate philosophy, which ensures that residents get a home that is both functional and innovative but most importantly, livable, is what has made them successful.

Since their inception, this is their think, design and build philosophy. The company must ask and listen to difficult questions. This allows the developer to think outside of the box and design buildings that are not within the traditional constraints. This developer can design cutting-edge buildings that are made with the finest materials and by the most skilled craftsmen. This allows residents to feel proud of their homes.

VANDYK Group of Companies was founded in 2005 as a company that built luxury homes, commercial office space and retail space. Today they are building master-planned communities with some of the most desirable townhouses and high rise condos in North America. This developer has been recognized for their efforts and is now an award-winning developer.

The success of their American efforts can be seen in Sarasota’s developments, which have the ability to bring together the best that Southern Florida has to give in one development. Their principles of thinking, designing and building have helped them achieve consistent success. These steps will ensure residents have the best possible living spaces. We are excited to see the transformation of the real estate market in Southern Ontario and the United States by this developer.

Projects by Vandyk Properties

The Ravine – Estates on Fletcher’s Creek

LOCATION: 320 Derry Road West, Mississauga, Ontario

MAJOR INTERSECTION: McLaughlin Road & Derry Road West

Derry_main

It is located near McLaughlin Road and Derry Rd. The Ravine is located near McLaughlin Road & Derry Rd. It is located in the Meadowvale Village neighborhood. This exclusive community will be home to 37 estate homes that back onto the ravine, a rare combination of modern conveniences and nature.

These lot are freehold and permit-ready and will have impressive 3-storey estates featuring timeless, classic and rich architectural details, as well as stunning interior finishes.

(Source)

3111-3123 Cawthra Road

LOCATION: 3111-3123 Cawthra Road, Mississauga, Ontario

MAJOR INTERSECTION: Cawthra Road & Dundas Street East

3111-3123 Cawthra Road

The 1.25-acre property is located near Cawthra Road and Dundas St. E. It features 34 units of single-family homes and townhouses. It is situated in a peaceful area close to major highways, the Square One Shopping Centre and a number of reputable schools.

(Source)

How to Secure Your Basement Windows [Guide]

Basement windows present a significant security vulnerability for many homes. Although the basement itself may not hold anything of value, often doors or windows leading to the basement are not as well protected as other entry points to the home, and therefore, burglars see it as easy access to the rest of your home.

Here are a few quick tips to guide you through improving the security of your basement windows.

Use good outside lighting

Make sure your basement windows are always well-lit during the evenings and at night. A dark place is always more likely to be broken into.

Keep basement windows visible from the outside

A basement window that is concealed by plants or shrubs is attractive to burglars because it provides them a cover under which they can easily operate.

Install security bars and good locks

Heavy security bars made of iron or steel offer sufficient protection against intruders. However, you must install these bars in such a way that firefighters can still use the window as an exit point, in case of an emergency. Most of these bars can be manipulated from the inside so that the window can provide an escape route.

Use a reliable set of locks and keys for the basement windows, if they do not have secure latches or other locking mechanisms. However, you must be able to open at least one window in the basement without the use of keys, in an emergency situation.

Advertise your home security system

A monitored home security system is one of the most effective ways of preventing break-ins. Make sure any passers-by can clearly see your home security stickers. Your basement windows must be secure and set up in alliance with the security system.

Use shatter-proof glass

To improve the security of your basement windows, it can also be beneficial to have shatter-proof glass installed as a replacement for regular glass. Since basement windows are usually fairly small in size, installing shatter-proof glass can be relatively affordable. Unless you have experience in glass installation, it’s highly recommended that you hire a professional to upgrade the glass in your basement windows. Research professional glass installation services in your area, and choose a highly rated service provider that has positive customer reviews.

Block the view into the basement

Use glass block for your windows, so that any outsider cannot peek in and see what is going on inside your basement. The intruder will not be able to tell if the basement is empty or occupied. Glass block is also extremely strong and difficult to shatter.

Plant tactical landscaping

To help limit access to your basement windows, you can also use tactical landscaping methods. Plant low, thorny bushes around your basement windows, making them difficult or nearly impossible for an intruder to access. If you are worried about the appearance of your home, you can use Hawthorne, Rosebushes or Barberry bushes to create a visually pleasing “barrier” around your basement window area. If you need to have access to your basement windows, you can also use thick, thorn-free shrubbery that still provides limited access.

The most effective home security strategies are those devised with your home”s particular layout and weaknesses in mind. Always remember to protect every potential entry into your home, not just the ones you use every day.

Are you looking for a complete guide on legal basement in Brampton? Look no further! Team Arora has got you covered.

A legal basement is the perfect way to increase the value of your home. Not only will it add square footage, but it will also be a great place to live, work or play. With our help, you can have a legal basement that meets all of your needs and exceeds your expectations.

We know that finding the right team to do the job can be difficult. That’s why we’ve put together a team of experts who are dedicated to helping you get the most out of your legal basement. We want to make sure that you’re happy with every step of the process, from start to finish.

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Exploring Some of Canada’s Greenest Cities

Monitoring our carbon footprints is more important now than ever before. As we develop new technologies, learn about greener solutions to past ways of life, and become more aware of the impact our actions have on the planet, more and more people are looking for cities that align with their personal green goals.

GreenScore, a non-profit foundation dedicated to “economic and environmental harmony,” uses their GreenScore City Index to rank cities across Canada based on their environmental footprint. They use more than 20 indicators ranging from city size and recycling percentage, to domestic water usage and natural land percentage. They also use data collected from Environment and Climate Change Canada, Statistics Canada, the Federation of Canadian Municipalities, and individual participation from cities across the country. While there’s no overall target score to reach—it all depends on the size of the city and the measured categories—a higher score is deemed better. The highest-ranking city is at 190…but you’ll have to keep reading to find out which one it is!

We’re going to take a look at the top city in the small, medium, and large categories as well as the number one city in each participating province. Size is based on population density, square kilometres, population growth pressure, and other determining factors. They’re broken out into size categories because smaller cities will automatically have eco-footprints just based on scale, so this way the scores are better represented and contextualized.

Small city: Victoria, British Columbia

Victoria, British Columbia, landed the top spot in the “small city” category with an overall score of 180. The capital of British Columbia, with a population of almost 92,000 people scores well in areas like biking, walking, and transit capabilities for commuting to work, as well as parkland area.

It’s no surprise Victoria scored high in parkland when you consider the outdoor adventures that await in the city. Victoria has also been named the most bike-friendly city in Canada, making it the perfect spot for those whose ideal days are spent pedaling through the downtown core and catching stunning ocean views.

If you’re looking to live in the area, the Victoria housing market remains hot, but is becoming more favourable for buyers..

“The real estate market in Greater Victoria is returning to a steadier pace following the strange two years we experienced over the course of the pandemic,” said Karen Dinnie-Smyth, 2022 President of the Victoria Real Estate Board. “While inventory is still below historical levels for a spring market, it’s now within our pre-pandemic five-year average, which is good news for buyers.”

Medium city: Burlington, Ontario

Less than 60 kilometres from Toronto, Ontario, is Burlington, a city that shares its boundaries with the Niagara Escarpment, a UNESCO-designated World Biosphere Reserve. Burlington maxes out the wilderness area category on the scorecard, which should be of no surprise considering the city is located right between the Escarpment and Lake Ontario. It also scored high in recycling diversion rate and biological temperature zone, which measures how biologically friendly the city’s temperature is year round.

In March 2019, Burlington was named the Best Community in Canada and Best Place to Raise a Family by Maclean’s magazine due to its housing options, hiking trails, proximity to Toronto, low crime rates, and more. Those looking to buy in Burlington have seen some encouraging news lately, despite sale prices still being above the national average. As inventory returns, prices appear to be dropping.

“In May, the residential average sale price dipped marginally from the previous month to $995,408, just below the million dollar mark, for the first time this year after holding steady since January 2022,” says REALTORS® Association of Hamilton-Burlington President Lou Piriano. “However, as increased inventory comes to the market, buyers have more selection, which may also lend to further negotiation power.”

Large city: Vancouver, British Columbia

Yes, we’re headed back to the west coast! With a score of 190, Vancouver ranks the highest among cities measured by GreenScore, regardless of size. It scored a two out of 12 in climate susceptibility—the lower the better—which uses the Actuaries Climate Index™ to observe “changes in extreme weather and sea-level changes in coastal cities.” Vancouver also scored well in population impact, recycling diversion rate, and parkland area.

If you’re in Vancouver either on vacation or as a resident, there’s no shortage of adventures for you to have. Whether your scene is outdoors in the wilderness or exploring arts and culture, there’s something for everyone in Van City!

Similar to Victoria, Vancouver is seeing the market shift towards favouring buyers, allowing them to take a bit more time when making a decision.

“Home buyers have been operating in a frenzied environment for much of the past two years. This spring is providing a calmer environment, with fewer multiple-offer situations, which is allowing buyers to explore their housing options, understand the changing mortgage market, and do their due diligence,” says Daniel John, Chair of the Real Estate Board of Greater Vancouver.

Greenest cities by province

Though Ontario and British Columbia are home to the greenest cities in the country, this doesn’t mean other provinces don’t have high-scorers of their own. Keep in mind, not every province and territory is measured by GreenScore due to lack of data or participation, but that doesn’t take away from how well these cities are doing!

Edmonton, Alberta

Edmonton falls into the large city category and scores a 159 in comparison to Vancouver’s 190. Its best measured categories are being able to travel to work by bus, bike, or walking, parkland area, and greenhouse gas emissions.

Saskatoon, Saskatchewan

Saskatoon is considered a medium city, with a population of approximately 266,000. Its score of 137 is somewhat low in comparison to Burlington’s 180, however Saskatoon scores well in being able to travel to work by bus, bike, or walking, population growth pressure—it scores a two out of 19, with lower being better—and wilderness area.

Winnipeg, Manitoba

Considered a large city, Winnipeg sees its best scores in number of parks, parkland area, renewable electrical capacity, and availability of green initiatives on the city’s website. It also scores decently well in population growth pressure.

Montreal, Quebec

Quite a few cities in Quebec are measured by GreenScore, including Gatineau, Trois-Rivieres, Laval, Sherbrooke, and Longueuil, but Montreal tops them all. Also designated as a large city, Montreal has a perfect score when it comes to clean electrical capacity, and also scores well in domestic water usage, greenhouse gas emissions, and population impact.

Halifax, Nova Scotia

Halifax is the top-scoring east coast city across all sized categories. It scores best in housing demographics—a one out of 19, where lower is better—park count, solid waste tonnage, and climate susceptibility.

St. John’s, Newfoundland and Labrador

St. John’s has the lowest possible scores—in the best possible way—for greenhouse gas emissions and air pollution emissions. They also score well for organic and solid waste tonnage, clean electrical capacity, and wilderness area.

Moncton, New Brunswick

Moncton’s best features, according to the GreenScore City Index, start with domestic water usage. They also score well in how much of the workforce commutes outside the city, with a low amount of the population doing so, which eliminates heavy traffic and poor air quality. Moncton’s parkland area earns a perfect score, and their green initiatives are readily available online.

As we start to learn more about the impact we have on the environment, many people are taking sustainability into account when choosing where to live. GreenScore’s City Index gives us a glimpse at how cities can be better friends to the environment and what ultimately can help make a difference.

Though these rankings serve as a great guide for which cities in Canada are leading the way when it comes to green initiatives, there are so many more working diligently to help leave our planet a better place.

Bank of Canada hikes benchmark interest rate again, to 3.25%

The Bank of Canada today increased its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%. The Bank is also continuing its policy of quantitative tightening.

The global and Canadian economies are evolving broadly in line with the Bank’s July projection. The effects of COVID-19 outbreaks, ongoing supply disruptions, and the war in Ukraine continue to dampen growth and boost prices.

Global inflation remains high and measures of core inflation are moving up in most countries. In response, central banks around the world continue to tighten monetary policy. Economic activity in the United States has moderated, although the US labour market remains tight. China is facing ongoing challenges from COVID shutdowns. Commodity prices have been volatile: oil, wheat and lumber prices have moderated while natural gas prices have risen.

In Canada, CPI inflation eased in July to 7.6% from 8.1% because of a drop in gasoline prices.  However, inflation excluding gasoline increased and data indicate a further broadening of price pressures, particularly in services. The Bank’s core measures of inflation continued to move up, ranging from 5% to 5.5% in July. Surveys suggest that short-term inflation expectations remain high. The longer this continues, the greater the risk that elevated inflation becomes entrenched.

The Canadian economy continues to operate in excess demand and labour markets remain tight. Canada’s GDP grew by 3.3% in the second quarter. While this was somewhat weaker than the Bank had projected, indicators of domestic demand were very strong – consumption grew by about 9½% and business investment was up by close to 12%. With higher mortgage rates, the housing market is pulling back as anticipated, following unsustainable growth during the pandemic. The Bank continues to expect the economy to moderate in the second half of this year, as global demand weakens and tighter monetary policy here in Canada begins to bring demand more in line with supply.

Given the outlook for inflation, the Governing Council still judges that the policy interest rate will need to rise further. Quantitative tightening is complementing increases in the policy rate. As the effects of tighter monetary policy work through the economy, we will be assessing how much higher interest rates need to go to return inflation to target. The Governing Council remains resolute in its commitment to price stability and will continue to take action as required to achieve the 2% inflation target.

Information note

The next scheduled date for announcing the overnight rate target is October 26, 2022. The Bank will publish its next full outlook for the economy and inflation, including risks to the projection, in the MPR at the same time.

(Source)

TD Bank Mortgage Rates Brampton September 2022

TD Bank is one of the biggest institutions within Canada by market capitalization and assets and is regarded as one of Canada’s top six banks. This is what makes TD an exemplary bank in Canadian Chartered Banks. TD operates across Canada as well as across all of the East Coast of the United States as well as an international presence. As of July 20, 2021, TD Bank is the third largest corporation within Canada and its total market value exceeding 150 billion dollars. In actuality, TD Bank is the 12th largest bank in the world, and one of the top 10 banks within the USA. TD offers a broad range of services for its vast customer base, which includes commercial banking, retail banking capital market services and insurance. With more than 1200 branches with 89,000 staff, TD serves over 9 million customers.

TD Mortages Rates
An Annual Percentage Ratio (APR) is calculated based on a $300,000 mortgage 25-year amortization, over the term in effect, taking into account monthly payments and a fee to calculate the value of the property at $300. If there aren’t any fees or charges, the APR and percentage of the interest are identical. APR is rounded up to the nearest three decimal place.

Brampton Mortgage Options

Brampton Fixed-Rate Mortgages

Secure yourself knowing that the interest rate you pay won’t rise during the time period you choose.

Fixed rate mortgages provide security, and along in turn security. After you’ve chosen your period, you’ll be able to rest assured that your interest rate won’t fluctuate for the time period you choose.

You can select the length of 6 months 1, 2 3, 4, 5 6, 7, or 10 years.

Payment Options:

Regular payments are able to be increased 100 percent over the course of the contract at no cost every calendar year.
You can prepay at least 15% of the principal amount of your mortgage at least once per year, at no cost.

TD Bank Variable Mortgage Rates in Brampton

The TD Bank variable rate mortgage offers fixed monthly installments over the duration of your mortgage but the interest rate is subject to fluctuation depending on changes to the TD Bank’s main rate. If TD’s prime rate moves lower the amount you pay will go to interest while a greater portion of it will be put towards the payment of the principal. If the rate at which TD’s prime rate is higher and your monthly payment increases, more will be directed towards interest and less towards your principal mortgage. This is a good investment tool for people who expect that interest rates within Canada to decrease in the coming years. Another option is a convertible mortgage. This is an fixed rate or variable mortgage that permits the possibility of converting to an interest-only mortgage anytime.

TD Variable Rates

How do I consider comparing interest rates on mortgages?

Making a decision on to take out a mortgage is an important financial decision because it requires borrowing a substantial quantity of funds. The interest rate on mortgages can be one of many variables which affect the total amount you be required to pay in the course of the amortization time. This means that you can save money by locating the lowest interest rate. Alongside the rate of your mortgage it is also important to compare the conditions and terms of each mortgage to ensure that you find the best one for your needs.

How much could I save by comparison of mortgage interest rates in Brampton, Canada?

Due to the large amount of money loaned under a mortgage even the slightest change in the interest rate of a mortgage could result in you saving money throughout the mortgage term, or even more in the course of an amortization time. Although the rate of your mortgage is an important aspect to consider but you should make sure you look over the terms and conditions of every kind of mortgage to be sure you pick the appropriate one for your needs.

What’s the main difference between a fixed and variable interest rate in TD?

Fixed interest rates is your rate of interest, in addition to the principal and interest payment will remain exactly the same throughout the mortgage time. With a variable rate your interest rate could fluctuate depending on changes in the T.D. Mortgage Prim Rate. Although your monthly payments will stay the same, the amount from each payment which will go towards principal and interest may differ. It is important to take a close review of the distinctions between variable and fixed interest rates before making the decision.

Mississauga Location

268 Derry Rd W Unit 101, Mississauga, ON L5W 0H6

Brampton Location

2 County Court Blvd #150, Brampton, ON, L6W 3W8

Halton Hills Location

23 Mountainview Rd S, Georgetown, ON L7G 4J8