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PROPERTY CRUSH OF THE WEEK

Look at what just listed in our hood! This luxury listing is just steps away from mine on the 14th floor of The James Club. We love this location. steps from Humbertown Plaza where you will find shops, Shoppers, Loblaws, banks, Vanderfleet's Florist, Laura Secord, Baskin Robbins & LCBO! Stroll to The Kingsway shops, Bruno Plaza (Living Lighting, Magoo's Burgers, Party City, Mastermind) bistros and the TTC. Enjoy this rarely offered unit boasting nearly 2800 sq ft of living space, two sided glass fireplace, 2 generous bedrooms, 3 baths, formal dining area, large family room & and city Skyline views! Hit the gym, swim in the pool, get together with friends for a film in the movie room, enjoy agame of pool or party in the party & room. Stroll along the scenic Humber River or picnic in iconic James Gardens

PH5 1135 Royal York Road - Toronto

$2,780,000

Listed by: Courtney Farquhar, Salesperson, Keller Williams Co-Elevation Realty, Brokerage
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4 Keys to Finding the Best Home for You and Your Family

Buying a home can be equally stressful and exciting, but it is always a venture that is worth undertaking. When looking into Toronto homes for sale, consider everything that would create an environment for you and your family to thrive. No detail is too small when you're looking for your forever home.

4 Keys to Finding the Best Toronto Homes for Sale for You and Your Family

1. Make a List of Must-Haves

Determine with your family what the non-negotiables are for your new space. Do you need an attached garage for those cold mornings? Is there a minimum number of bathrooms and bedrooms that your family needs? Do your in-laws need a guest room on the bottom floor when they visit because they have difficulty climbing stairs regularly?

Write down all of your must-haves and then decide if any of those items are negotiable and put those on a Would-Like-To-Have list. This second list will be items that would be nice to have in your new home but won't be deal-breakers if they are not included. No home will have absolutely everything you are hoping for, so it's important you know what you are willing to de-prioritise.

2. Get Pre-Approved

Shopping for a home really begins after you have been pre-approved for a loan. Before that happens, it's difficult to know what exactly the budget is that you are working with. It also helps make sure that when you find a home you love, you can act fast in putting in an offer and hopefully beat other families to the punch.

3. Consider Remodeling

Your family has unique needs, and the only way to make sure that everyone gets what they want is to design it yourself. If you find a home that is a size and layout that will work for you, consider taking on a remodel.

Seeing the potential in a home isn't always easy, but changing large items like the flooring, bathroom tile, and cabinets can make a big impact in turning a house into a dream home. Even changes as small as new lighting fixtures and paint colours will add your own personal style while giving the home an updated, fresh look.

4. Prioritise Location

Location is always important when purchasing a home, but when your family is involved then it becomes even more of a priority. Consider any commutes that parents may have for work and that children may have for school. Where will your family be spending most of their time when they aren't home? Does the location allow you to spend more time together?

Regardless of the type of home you are looking for, remember to first and foremost manage the expectations of both yourself and your family members. Our experts can help keep your feet on the ground while still letting you dream about what you hope your home will be. Call Nancy at 416-985-1486 or Dave at 416-894-4079 at GTASelling.com and let our dynamic team help you find the perfect home for you and your family.
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PROPERTY CRUSH OF THE WEEK

"We love this 2200 sq ft penthouse with a rare 2000 sq ft terrace boasting 270 degree views!!

Enjoy the perks of Bloor West Village shops and picturesque Old Mill.

1 Old Mill Drive - Toronto

$3,800,000

Listed by: David Anderson Oey, Salesperson, Harvey Kalles Real Estate Brokerage Ltd
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PROPERTY CRUSH OF THE WEEK

"We love this penthouse - boasting generous, modern living space, 4 bedrooms and incredible views"

"Close to off leash dog park and tennis!"

25 Stafford Street - Toronto

$4,995,000

Listed by: Arif Manji, Salesperson, PSR Brokerage
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Buying a House in Toronto: Will It Get Less Expensive This Year?

The Greater Toronto Area (GTA) housing market is finally starting to look more optimistic in pricing relief going into 2022 and 2023. That said, challenges like inflation and a low inventory will throw their respective wrenches into buying plans. Countering this with knowledge about exactly what the upcoming home price vulnerabilities are, and how to navigate them, is what can make your dream come true of buying a house in Toronto.

 

Buying a House In Toronto - The Good

The crazy high prices of 2021 are expected to slow way down in early 2022 and into 2023, which is a good thing. The Canadian Real Estate Association (CREA) is optimistic that prices for homes for sale will not rise drastically in 2022. Whereas house prices rose by a whopping 19.9% in 2021, the housing cost increase in 2022 is forecast at 5.6%.

So the overall result is that the ceiling on sky-rocketing Toronto house prices has been reached for now. Real Property Solutions (RPS) asserts that Canada's housing market will calm down in prices for most of 2022. The reason is a gradual increase in interest rates expected from 2022 and beyond that will help pressure sellers to ease up on asking costs.

Inflation and Overvaluation - The Bad

The GTA won't have as strong pressure to lower housing costs as some other Canadian real estate markets though, due to Toronto homes being so overvalued. On top of that, the inflation rate at 4.1% is the highest in Canada since 2003. Inflation eats into income needed for mortgage payments and in 2021 the typical Toronto home cost 10 times more than the average family's annual salary.

But don't despair as the news is far from all bleak for Toronto home buyers! The positive here is that the GTA's economy has largely bounced back after the COVID-19 lockdowns. There are indeed many buyers looking for Toronto area houses.

Supply and Demand - The Ugly

Toronto currently suffers from a low housing inventory, and it's a major element that drives prices upward. Moody's Analytics recently reported that new construction is expected to help Ontario's housing shortage and estimates that a million homes are needed in the province over the next decade. That's welcome news as the buyers' demand for Toronto homes isn't expected to lessen anytime soon.

Also, the competition for buying average houses is likely to increase as the demand for luxury homes decreases, so choosing the right neighbourhood is crucial as the area can make a difference as it did in pricey 2021. House costs overall were highest in Brampton, King, Markham, Toronto Central, and Whitchurch/Stouffville. Lower home costs were generally seen in Bradford, Brock, Burlington, Halton Hills, Innisfil, and Milton.

 
Moving forward, the bottom line for home buyers is perseverance and expert knowledge of pricing comparisons of sold homes (housing comps to us in the real estate biz). For the most up-to-date Toronto house buying info and which neighbourhoods are the best and least expensive, call Nancy at 416-985-1486 or Dave at 416-894-4079 at GTASelling.com.
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PROPERTY CRUSH

The Property Crush this week is our own listing at 68 Armadale Ave., Toronto


Captivating restored, light filled, open concept, stone cottage, nestled in the heart of Bloor West Village, surrounded by beautiful native gardens intermingled with stone pathways. 


Sky-lit entrance with a marble floor opens into flowing hardwood floors throughout the open concept home. The chefs kitchen with granite top island and high end appliances is a pleasure for cooking and entertaining as it opens out to a stone patio combined with a comfortable lounge seating area. The sun drenched sunken living room boasts 12 skylights, vaulted ceilings and a floor to ceiling stone fireplace. A floating staircase rises to second floor bedrooms with eastern morning light and overhanging trees which are home to beautiful songbirds that transport you to a rainforest like environment. Downstairs has a large living area, a spa-like bathroom and is ideal as a suite for an adult child or long term valued guest.  A tankless hot water system, with modern slim radiant wall heaters provide the most comfortable heat, while being very energy efficient.  All bathrooms have heated floors. There is a single car garage, plus 2 car parking. Relax after work, with western sunset exposure, on the private deck above the garage. Hot tub and pergola included. Steps to Bloor West shops, bistros and TTC. Location, location, location!

68 Armadale Ave., Toronto, Ontario Canada


List: $1,980,000

 

Listed by: Nancy Pierce and Dave Duncan, Salespersons, Re/Max Professionals Inc., Brokerage

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