Catherine Lin
7505 Kennedy Road L3R0L8 Markham, ON, Canada

If you are thinking of buying a home, ask yourself - Are you ready? Before you jump right in, you have to make sure three things are ready: you, your bank account, and the real estate market. Are you ready? Be sure.... Owning the roof over your head will bring you great pride, but with that pride comes accountability and sacrifice. There’s the obvious financial responsibility, but your home will also require constant care and upkeep. That’s what real pride of ownership is all about. Is your bank account ready? Check it twice. Your first home will be the biggest financial obligation you’ve ever faced. You should already be an experienced saver, and good at managing debt like student loans or credit cards. Ideally, you’ve also saved up some money for a nice down payment. Talk to your financial institution about the Home Buyers Plan too. This will give you a crystal clear picture of how much you can afford. Is now a good time to buy? Here’s the hottest market tip you’ll ever get. Markets go up, markets go down and even the smartest experts can’t accurately predict when a market will peak or bottom out. The good news is, if you’re buying a home as a long-term investment (and for long-term enjoyment), you’re protected from short-term changes in the market. Over time, real estate has almost always increased in value. All you have to do is pick a home that meets the needs of you and your family. Then you’ll enjoy living in your investment as it grows in value. A home is one of the best financial decisions you can make, so make sure you think things through.

Sharing info on tax deductions for home office expenses. With millions of Canadians working from home in 2020, the Canada Revenue Agency (CRA) is bracing for an onslaught of new home office expense claims. Learn about the special rules for making these claims. https://www.cpacanada.ca//employee-home-office-expenses-20

3 Ontario Cities Ranked Among The Most Affordable Real Estate Markets In Canada. Of the ten most affordable real estate markets in Canada, it turns out that three of them are cities in Ontario. A report by Point2Homes ranked Halifax, Nova Scotia in the first place, followed by Windsor, London, and Oshawa in second, third, and fifth place, respectively. The ranking compares average household income in the area with average home costs, as well as the percentage of your income t...hat will go towards your mortgage. In Windsor and London, the average homeowner only needs to spend 11.4% of their income on mortgage payments. In Oshawa, it's 12.1%. The report claims that in Windsor and London, incomes have been increasing faster than home prices for the past decade. Not all cities in Ontario are blessed with such affordability the same report by Point2Homes claims that purchasing an average home in Toronto requires a yearly salary of $130,000. The average selling price for a Toronto home was $930,000. Source: https://www.narcity.com//affordable-real-estate-markets-in

The Canadian Mortgage and Housing Corporation (CMHC) has estimated, that in a worst-case scenario, the country could see a drop in housing prices of nearly 50% by 2030, with a W-Shaped recovery. To find out more, please click on the link below: https://www.advisor.ca//cmhc-warns-of-severity-of-a-w-sha/

Re: Data Breach Living Realty, a Markham-based real estate brokerage has warned its clients that their personal information may have been compromised due to a November cyber attack. If you have transacted with Living Realty and have questions about your privacy, please contact the Information and Privacy Commissioner of Ontario and they may be reached at:... Information and Privacy Commissioner of Ontario 2 Bloor Street East, Suite 1400 Toronto ON M4W 1A8 Telephone: (416) 326-3333 Toll-free: 1-800-387-0073 Website: https://www.ipc.on.ca/individuals/

Rentals.ca January 2021 Rent Report. The average rent for all Canadian properties listed on Rentals.ca in December was $1,723 per month, down 7.1% annually and 1.1% from November 2020. The Canadian rental market weakness continued in the final month of the year, but the 7.1% year-over-year drop was the lowest rate of decline since May.