Blog - Page 5 of 5 - De Krupe Law

26 July

Sticky

Real Estate Property Taxes in 2023 Canada

in Blog

Taxes are pivotal in funding local services and providing the essential infrastructure for communities across different countries. The recent changes in tax laws and their implications on homeowners and investors will always be important matters to discuss with De Krupe Law toronto real estate lawyers. Overview of the Canadian Property Tax System The Canadian property tax system is a complex web of municipal and provincial levies. Property taxes depend on property assessments and serve as a major revenue source for local governments. The Canadian property tax system is multifaceted, involving both municipal and provincial components. Property taxes are calculated based on property assessments...

21 July

0 Comments

Sticky

Real Estate Toronto. Analysis June 2023

Posted by Daniel Simard

in Blog

The real estate Toronto market seems to be in for a couple of surprises in 2024. We decided to discuss them with skilled De Krupe LawToronto real estate lawyers. They gave us valuable advice based on the latest data, so we are here to share it with you! Quick Summary In the summer of 2023, national real estate sales staggered slightly, falling 1.5% from the previous month. This decline is less than the drop we saw in April and May, and sales activity was 4.7% lower than in June 2022. The number of new offerings on the market was down 5.9% for...

11 July

0 Comments

Sticky

Accelerate Your Mortgage Repayment: 5 Effective Strategies

Posted by Daniel Simard

in Blog

Accelerate Your Mortgage Repayment: 5 Effective Strategies

Owning a home is a significant milestone. For many, it is made possible through amortgage. Having your OWN place to live is perfect, but the burden of a mortgage repayment can linger for years. However, by adopting the right approach, you can pay off your mortgage faster and enjoy the true freedom of homeownership. Mortgage Definition A mortgage is a loan provided by a lender to finance the purchase of a property. It serves as a financial agreement between the borrower and the lender, outlining the following: The terms and conditions; Interest rate; Repayment schedule. Paying off your mortgage promptly is crucial, as it provides you...

05 July

0 Comments

Sticky

The Importance of a Good Credit Score for Your Mortgage Refinance

Posted by Daniel Simard

in Blog

Illustration of Good Credit Score for Mortgage Refinance

Whenrefinancing your mortgage, having a good credit score is your number one priority. After all, it's what shows that you're a responsible borrower. It plays a huge role in determining the interest rate you’ll receive, the loan terms available to you, and even your eligibility for refinancing in the first place. Understanding Credit Scores A credit score is a representation of your creditworthiness. It directly reflects your past financial behaviour, showing how likely you will be actually repaying the borrowed funds. The most commonly used scoring model is theFICO score, which ranges from 300 to 850. The higher your score, the higher...

26 June

0 Comments

Sticky

The Impact of Canada’s Two-Year Ban on Foreign Home Buyers on Real Estate: What You Need to Know

Posted by Daniel Simard

in Blog

The Impact of Canada's Two-Year Ban on Foreign Home Buyers on Real Estate: What You Need to Know

The Canadian real estate market has been a topic of great interest and concern, particularly when it comes to the impact of foreign home buyers. In an effort to address this issue, the Canadian government recently implemented a two-year ban on foreign home buyers. Prehistory of the Two-Year Ban Canada, known for its diverse and thriving real estate market, has experienced significant growth in property prices over the past decade. This surge in prices, especially in major cities like Toronto and Vancouver, raised concerns about housing affordability and accessibility for Canadian residents. During this period of rapid price escalation, foreign investors, particularly from countries with...

23 June

0 Comments

Sticky

Real Estate Lawyers’ Perspective on Interest Rates

Posted by Daniel Simard

in Blog

Real Estate Lawyers' Perspective on Interest Rates

[toc] Interest rates considerably affect the market state quite. After all, it concerns both buyers and sellers. Mortgage experts predict market heat due to the interest rate hold, so it's vital to understand the real estate lawyers' perspective. We'll cover the opinions of real estate lawyers on interest rates, their impact on the real estate market, the implications for buyers and sellers, and the advantages of consulting a Toronto real estate lawyer. Understanding Interest Rates in Real Estate Interest ratesare the added cost of borrowing money from financial institutions when you buy a property. They depend on several factors: Economic conditions Inflation rates Policies of the...