Part 1 Of You And Your Toronto Housing – Some Invaluable Facts
July 22, 2010
I’m thinking about doing some home remodelling, do I need a building permit?
If you are thinking about completing construction, demolition, renovations or additions to your property, then you could need permission from the City of Toronto before you begin, this is called a building permit. There are many laws that your plans must comply too, as well as the Ontario Building Code and local Zoning By-laws. Here’s when you require the permit: Install or change heating and plumbing, building or modifying your existing property, building additions to your property, changing the use, changing the size of windows or doors and even putting in a second suite.
My insurance business is asking a lot of questions about the property I bought, can my realtor help?
If your property has been renovated in any way, the amount of land the property sits on, when the property was put up are some of the questions asked. We will contact the listing agent for your new property to get as many answers as can be provided from the sellers, who will know the most about the property. Most insurance companies realize that the precise details are not always available, therefore they normally accept approximate details.
I am thinking about purchasing a property, but not sure whether I should buy a house or a condominium?
We work mainly with Toronto houses for sale but I believe that this all depends on your personal circumstances, how you visualize the future and what you are expecting out of the investment. When looking at average Toronto rental prices for a decent apartment it pays for itself, on the downside the value doesn’t increase very much, but part of a house can be rented out while you are still living in it. We will analyze your own personal situation to help you make that choice!
The units in the condominium building look the same, so why is there a price variation?
Many circumstances can influence pricing, including ceiling height, finishes, extras & upgrades, exterior access, parking and the like. Also, the higher the floor within the building, the bigger the price (ie penthouse suites can sell for considerably more than ground floor suites). The asking price is the starting point for any property transaction, so you may find that this figure is not what the condominium actually sells for.
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