RenoFinder

What Will Happen To Real Estate in Canada and the GTA?

How to overcome renting challenges? Renting apartments, condos, homes within the GTA is not getting easier due to several reasons and here are some ways to hel...p improve your chances; 1. Have a good credit score and recent report ready 2. Get reference letter from existing landlords and employers 3. Have pay stubs, bank statements, and all financials in order 4. Be prepared to meet the landlord (seems to be a trend these days) 5. Allow a realtor to help you find a place. Many have good connections with listing agents and can swing things in your favour, and it doesn't cost you a penny for the service. Besides the lack of rentals (under 1% vacancy rates), what else is causing the struggle for tenants? 1. Not enough apartments, which puts the pressure onto condos and homes, and not enough of those either. 2. Airbnb and similar such online services and short term rental options which is putting more money into the landlord's pockets. Obviously, property owners will rent out at higher returns. 3. Picky landlords who are looking for "perfect" tenants and are willing to sit on vacant properties for several months. 4. High rents in certain areas, which are out of reach for most. 5. Landlords not wanting to rent to tenants with pets. It may not be a legal thing to do, but hey they are in the driver's seat and insist on 'no pets' I have come across several clients recently who have had a real struggle with finding a place. In most cases, it's either the type of house they are looking for but mainly it's their credit rating or budget. If you are a young person, I highly recommend you have a solid credit rating and if not, start working on building one or correct the situation asap. Should you need any feedback, help or just have questions, feel free to call me anytime. Riyaz @ 416-417-8603

Be aware of Hidden Expenses when buying an older home.

Have questions about the housing situation in the GTA? We may have some answers. As individuals, family members, parents, and millennials, we all feel the brunt... of the current housing marketplace. I have 2 young daughters and it's a concern where we are headed with the pricing and the cost of owning a home for our families in the coming years. I get it. For those like myself, we were fortunate to purchase before the crazy and unexpected boom, but what happens now? I have shared my thoughts and feelings on previous posts on how we could have stopped some of this madness long before we ever got here. But now we are here, let's learn from what transpired and put corrections in place which will help us all collectively. One of the biggest driving forces for the Canadian economy is the housing industry and as such, we need to deal with it delicately and with utmost care. Secondly, Canadians in general prefer and love to own their homes rather than rent. So the housing industry, lending institutions and all levels of governments need to step it up. And it seems that the powers to be have taken action and want to provide answers to our questions. The Building Industry and Land Development Association (BILD) have launched a website; https://buildinganswers.ca/ to help us out with answers and I do hope solutions for many. Again, if I can help you in any way with your Real Estate concerns, feel free to call me (Riyaz) at 416-417-8603, even if it's just for an opinion or feedback. There are no obligations :) #realestatetoronto #realestategta #gtahomes #realestatequestions #realestateagent #buyingahome #sellingahome #canadianrealestate

Be vigilant, don't get caught with shady renovators. Do your due diligence and most important be extremely wise on how much deposit you will provide. When I got my roof done, I gave the guy no deposit, I signed the contract, which meant I was on the hook, but he had no money he could run away with. You can also choose to agree on a very small deposit which will only be paid once the material is on your driveway. The contract protects the renovator, plus when he starts the w...ork and you don't pay, he can put a lien on the property, which can turn any situation in a nasty one. Best of all, avoid all the hassle and deal with reputable companies. #RenoFInder #renos #roofers #renovation #contractors