December 2020 marks the closing of an unprecedented and unpredictable year. Despite the global pandemic, competition for residential real estate is still as heated as ever in Toronto and the wider Ontario markets. Today we decided to have a look at Ontario’s different real estate markets and see how 2020 fared amidst a tumultuous and challenging year.
Perhaps one of the most famous groups in the world of co-ownership, the ‘Golden Girls’ of Port Perry are now considered the face of co-ownership in Ontario. As Ontario’s government pushes for alternative housing ideas to combat the housing crisis across the province, these four seniors came together and took advantage.
We’re back again with another property feature on our blog! 2374 Gerrard St E is a multi-unit property that is currently being built. Situated on the east side of Toronto, the property has a close proximity to the Danforth with some of the east side’s best dining and shopping. 2374 Gerrard St E is expected to be completed by the end of 2020.
You may have seen this new billboard if you were cruising around Spadina Ave and Queen St W after May 17th. As sarcastic as it is, having your parents help you with entering the real estate market is the new norm, particularly here in Toronto. Wealth is beginning to shift generationally as parents help their children with down payments and, in some cases, even paying the mortgage.
Covid-19 has affected every aspect of what was once our normal lives. Across the world, the pandemic has reshaped the attitudes and habits of everyone in their personal, professional and public lives. The real estate market is no different and many young Canadians have reassessed and re-evaluated their approach to home ownership.
With the Liberals releasing their bold and aggressive plan to tackle the housing market, the Conservatives have released their plan should they win the election. Among many issues that are hot during this election cycle, housing affordability and real estate is being talked about by all parties.
You may have seen this new billboard if you were cruising around Spadina Ave and Queen St W after May 17th. As sarcastic as it is, having your parents help you with entering the real estate market is the new norm, particularly here in Toronto. Wealth is beginning to shift generationally as parents help their children with down payments and, in some cases, even paying the mortgage.
Covid-19 has affected every aspect of what was once our normal lives. Across the world, the pandemic has reshaped the attitudes and habits of everyone in their personal, professional and public lives. The real estate market is no different and many young Canadians have reassessed and re-evaluated their approach to home ownership.
Urban Lake House Retreat! Soak in a hot tub, take a sauna, curl up by a fire or jump in your kayaks and go for a paddle. With easy access to downtown, a beautifully finished basement with 7 ft ceiling height, four bedrooms, 2 four piece bathrooms, reclaimed brick interior finishes, 2 fireplaces and a back yard to die for, who needs a cottage? Don't let this Urban Oasis get away.
In continuation of our coverage of the election topic of housing in Canada, the Green Party’s platform for housing has a major focus on affordability and addressing the homelessness crises across Canada. Beginning with the basic premise that adequate housing is a fundamental right, the Green Party proposes a bold platform that is quite different from the main parties’ platforms.
As the time to head to the voting booths approaches rapidly, the policy platforms and plans are being released for each party. As housing and affordability are primary concerns this election cycle, the NDP released their plan for how they will tackle housing if they are elected.
Housing affordability is a huge topic in this election cycle. It’s no wonder with housing prices rising across the country including Toronto’s average home price breezing over $1 million. Last Tuesday, the Liberals unveiled their ambitious new housing plan on their campaign trail.
The dream of home ownership has been slipping further and further away for many Canadians. It was once a rule of thumb to aim for a home that was roughly priced less than or equal to four times your annual income. However, with skyrocketing home prices and property values, this is an incredibly outdated rule.
Have you ever wanted to explore the prospect of co-owning real estate but found the process of finding a group or partners daunting? At GoCo, we wanted to find a solution and connect people as they begin their first steps into the process of co-ownership. So, we’ve launched our very own co-ownership matchmaking website for you to find your perfect group. If you’re interested in co-owning a home and looking for like-minded and fabulous people to join forces with, then this is the place for you!
Escape the city and embrace cottage living! Welcome to 473 Bay St. Orillia on the shores of Lake Couchiching.
This is the ‘forever’ home you have been waiting for! In the heart of Harbord/Annex Village, this 3 Storey Victorian Semi will have you swooning. Sprawling ground floor with family room extension, 3 piece bathroom and a kitchen pantry.
The Canadian Real Estate Association recently released the white paper, titled The Homeownership Dividend for Canadians which details the benefits of homeownership beyond only financial advantages by studying and collecting data from across Canada, the USA, Europe and many other places in the world. The results are not surprising. The benefits and advantages of home ownership go beyond finance, particularly for lower and middle income families and households and this phenomenon exists across the world.
Toronto’s real estate market has been characterized by its intense competition, lack of supply and soaring prices. The pandemic has further exacerbated the market, pushing more and more buyers out. Millennials and younger Canadians, seniors and those on fixed incomes, and young families without the luxury of generational wealth are feeling the brunt of such a market.
A new cohousing development is in the works right here in Ontario. Located in Guelph’s Exhibition Park neighbourhood, this cohousing project is set to become Ontario’s second cohousing community. Dubbed Watershed Cohousing, this project will convert the property on the corner of Woolwich St and Mont St into a 6-unit community with a focus on sustainability.
OSFI has proposed new changes to the mortgage stress test in an effort to cool an overheated real estate market. Markets such as Toronto and Vancouver have been exploding over the past twelve months despite the pandemic. It brings the question of whether this will have the desired effect or will simply be a temporary solution to an ongoing problem.
The city of Toronto has been making moves to create supportive and affordable housing this week. Thanks to a new affordable housing initiative with a time limit on its funds, the city is attempting to tackle the ever-growing housing crisis we have in our city. Two buildings have been bought by the city with an announcement that they will be converted into 334 affordable and supportive housing units.
The pandemic has created a frenzy in the Toronto real estate market. Demand has increased to a level that has fuelled skyrocketing prices in an already inflated market. Supply is incredibly outpaced despite the fact that listings have increased year on year.
Amour! Your forever home is here with this beautiful 3 Bed, 2 Bath single family perfect for co-living! Convenience, amenities and much more in this downtown gem!
An incredible cute and artsy space on the east end! Complete with plans for additions, this place has potential to be AMAZING for co-ownership!
Toronto has a housing crisis. That’s apparent and we’ve been talking about it for a while now. There’s plenty of creative solutions that we need to implement to combat this crisis and create a city that is affordable with high quality housing. We need to look towards the future and by that we mean we need to think about sustainability. Many of Toronto’s housing stock is dated and not built to function in an eco-friendly way. But there is a movement beginning in the housing market. Old and tired Toronto homes are starting to be revamped and transformed into housing that is environmentally friendly and modern. Today, we’re going to talk about two of these homes in Brockton Village that have been transformed from old and tired traditional family homes into eco-minded three-unit buildings.
Selling your home is a lot of things: exciting, stressful, rewarding and a lot of hard work. Getting your home ready for sale is something that all sellers need to be prepared for and every house has a different level of intensity in this endeavour. You want your home to be absolutely stunning to wow potential buyers as well as get your desired sale price. Home improvements can be a great way to achieve this but sellers beware, there are many pitfalls when it comes to these renovations for your soon-to-be sold home. If you’re not careful, you may find you cost yourself more on improvements than adding value to your home. Here are 6 home improvements you’ll probably want to avoid when preparing your home for sale.
Competition has been a defining trend in Toronto’s real estate market for decades now. The supply is never enough for the constant demand for housing. As we’ve mentioned many times before, this has driven the prices in Toronto sky high forcing even fiercer competition and regular bidding wars on many properties. With so many buyers vying for their new home, it’s common to lose on offer night. An occurrence that often repeats for many buyers. How is it possible to stay positive in such a fierce and competitive market?
Located in the neighbourhood of Winston Heights lies Prairie Sky is Calgary’s only cohousing community. The community was originally built in 2003 and houses 18 different units. The residents of Prairie Sky proudly base their principles and community foundation in respect, sustainability and commitment.
Cohousing is a fantastic opportunity for young families to grow and live in a beautiful close-knit community. For children, it can be a fantastic place to make easy friends and develop their social skills as they age. There’s plenty of benefits for kids and young families in cohousing that we’ve come up with today.
An incredible family-style compound with three separate units and incredible communal, shared spaces. Don’t miss out on this amazing listing perfect for co-ownership!
Despite a global pandemic and enduring the second wave, Toronto’s real estate market is as competitive and hot as ever. Rents are hitting a huge low as an unprecedented exodus from the city begins as remote working becomes the norm. With the many industries suffering through these changes, why is the real estate market still so crazy?
Home buyers in Toronto better be prepared as prices continue to surge. The Toronto Real Estate Board expects home prices to rise by 10% this year, leading to the average home price to surpass $1 million by the end of 2021. As with a higher price, the down payment required to purchase a home will climb even higher, leaving many unable to enter the market. Affordability issues aren't anything new to Toronto but it’s important to look at the gravity of the situation.
We talked a few weeks ago about the new legislative changes that have allowed Toronto to build and construct laneway houses as a much needed action against the city’s housing crisis. Today we wanted to share some success stories with you from around Toronto.
The co-ownership movement is small but, as we’ve covered, it is gaining momentum. GoCo has worked with numerous groups and clients who have embraced a new means of house ownership and helped facilitate their own intentional communities. But GoCo didn’t invent co-ownership in housing. Before Lesli and her team were tirelessly working with groups around the GTA, co-ownership and cohousing arrangements were already being done. Today we wanted to talk about a lovely woman we interviewed who embraced a new model of housing ownership. Julia* told us her story of how she embraced a new way of home ownership in Toronto.
It’s January of the new year. While there are many things to be optimistic and hopeful about, from a real estate perspective, January is a tough month. Things are slow, supply is even more scarce and things can seem helpless. But that’s just January. Coupled with the state of the market in Toronto, things can seem bad but don’t fret too much. Plenty of good things are on the way.
Welcome to 2021! A new year with a plethora of opportunities waiting! Time to start fresh and leave the challenges of 2020 behind, right? Well, yes and no. As we welcome in the new year, it may be tempting to pretend like 2020 never happened. Unfortunately, just because it is a new year does not mean we can slip in our vigilance when it comes to our safety and the safety of others. Real estate is no different. We must continue to put safety as our top priority even when buying and selling houses.