Things you need to consider in buying a new home in Canada.

Buying a new house can be a daunting task for anyone. The feeling of getting a new home in any country or a place is amazing but it involves a lot of effort which is stressful. While buying a new house in Canada whether it is a condo or townhouse or detached house, you need to do some homework. Canada is a very vast country and the choice of place of living will significantly impact the home-buying process. The cost of buying a house is comparatively cheaper in smaller cities and rural areas as compared to bigger cities like Toronto or Vancouver. Here are some of the things you must consider before purchasing a new house:

1.     1. Check your affordability and plan your budget: First you should be able to plan your budget for the house. This will be decided on the basis of your requirement of size and number of rooms etc. of the house and your affordability.

2.     2. Save for down payment and closing costs: Before thinking of buying a house you must ensure that you have sufficient savings to make the down payment, the amount payable upfront at the time of purchase. The rest of the amount can be arranged through a mortgage. Generally, the minimum amount of down payment varies from 5% to 20% of the cost of the house. But the larger the amount of down payment you can make, the easier it will be to get a mortgage. It will save on mortgage default insurance premiums and the overall amount of interest to be paid on the mortgage. Closing costs include some legal and administrative charges which need to be paid at the closing of a property transaction, so you need to be prepared for the same in advance.

3.     3. Get yourself pre-approved for the mortgage: It will help you to access the amount you will be able to get based on your credit score, your sources of income, the repayment schedule, etc. A good credit score will get you the best rate of interest on the mortgage. A mortgage broker can be helpful in getting the required documentation done and get the mortgage approved.

4.   4. Start searching for your home: You can also search online for your home. You can also hire any of a realtor in Brampton, who can guide you through the process of home buying. Though there is a cost involved in it as you have to pay the fee to the realtor, but it is worth spending some money as you may not be having sufficient knowledge of the factors involved in the process. The agent can help you negotiate the best price.

5.     5. Make an offer: Once you have finalized the choice of your house, you can make an official offer specifying the price of the house, down payment, mortgage, closing date, etc. The real estate agent can guide you in the process. Once your offer is accepted you will be required to sign the legal agreement.

Conclusion: Purchasing a new home in Canada can be an overwhelming experience for anyone. For becoming a proud homeowner of a new house you will have to go through the process of estimating your financial affordability, plan savings, get a mortgage, hiring a real estate agent, search for your house, finalize the offer, close the deal and get the keys of your dream house.

To help you to achieve your dream, we at Catherine Nacar are always there to guide and help you. Please feel free to contact us in case you have any queries and we will feel pleasure to provide the solution. Contact us at: info@catherinenacar.ca or call at +1 905 867 4828

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Benefits of Real Estate Investing in Mississauga

When we discuss or hear about Toronto real estate investment, a famous Warren Buffet quote comes to mind, and it plays true for this topic: “Price is what you pay. Value is what you get.”

By interpretation, a real estate investor is someone who actively or passively invests in real estate. An active investor buys a property, initiates repairs or renovations on the property, and finally sells it for a profit. A passive investor might still purchase a property but would rather hire realtor in Mississauga or a company to manage the investment property.

Active or passive, end of the day, investors prefer real estate for several reasons: managing cash flow, taking advantage of depreciation, gaining from capital appreciation, and leverage other tax benefits.

One of the benefits that we have going for us here in Canada is the backbone of the Canadian economy. Toronto stands very high amongst secure cities globally for real estate investment. In fact, with Ontario’s dedication to supporting businesses, and proceeding to be among the world’s most innovative and durable markets to invest in, all currently bodes well for the security and enjoyment of real estate investments.

Why you should invest in Toronto's Mississauga

• 1.       Mississauga Has A Diverse Population

The whole country of Canada is undergoing a surge of immigration. People from around the world are quickly discovering the pleasures of living in the Great White North. Several places are more engaging to considered immigrants than the Greater Toronto Area. The major cities that make up the GTA, none are as welcoming as Mississauga. Half the population is understood to speak two languages.

• 2.       Easier Point Of Entry

Let’s view it. The cost of a new home in Canada is much more costly than it was a year ago. In every corner of the country, the price of a single-family home is growing at an astronomical rate. That doesn’t mean you can’t realize your purpose in becoming a real estate investor, it just means you have to know where to look. Investment in Toronto Mississauga is the best way to reside and also earn better returns in the near future.

• 3.       The Great Exodus

2020 has been an amazing year for real estate investment, but there are overall trends we can expect to continue for years to come. One of the most impactful improvements is the immediate need for homebuyers to view outside major cities in the hunt for a home. People are becoming tired of densely-packed urban centres, and have been moving to the suburbs and country at a constant rate. Some specialists predict that this trend will last long past 2020—mainly because the cost of an average single-family home in a metropolitan center is not affordable for most Canadian families.

Though its population shifts the scales at 828,000, Mississauga is still significantly less than neighboring Toronto, the nation’s most populated city. For those people who need seclusion beyond the modestly-sized town, real estate investors based in Mississauga can discover rural property for sales or development with relative efficiency compared to those investors mired in the thick of Toronto.

What’s more, critics predict this trend won’t be a short-term bounce, either. The doubt is that those people who aren’t speeding to buy homes outside major cities are likely saving up to do so.

Looking for a reliable real estate agent? Get in touch with us today at: info@catherinenacar.ca or call at +1 905 867 4828. 

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Which City is better to Live in Canada?

 

Canada may be home to less than 0.5% of the total world's population, but it has some amazing cities that have made it to the list of best cities to live in the world. Whether you're a migrant or already residing in Canada, it is the best country that offers beautiful cities that you would definitely fall in with. According to the 2021 World's Best Cities Report, a ranking list referred by some superior travel models that include the following cities:

1.    Toronto

There's no doubt that economic growth, fueled by immigration and global investment, can boost your country's development. And Canada's most populous city is poised for big things. Toronto's variety is less tied to migrant labour and more to the long-term opportunity in a town that earlier this summer was crowned the fastest-growing ban area in all of North America.

But the country offers excellent educational institutions and business opportunities than any other country in Canada. It also has a fantastic climate that makes this city one of the best choices to live in.  

2. Vancouver

You might have heard that Silicon Valley and Seattle tech giants are expanding to town with an abundance of jobs, influenced by Canada's openness to immigration from global tech genius mostly spurned by four years of nationalist policies south of the border. Additionally, Canada's—and Vancouver in particular—relatively pro-active acknowledgment to and containment of the pandemic has won the city even more global travelers who can work from anywhere.

1.      Mississauga

Mississauga's volatile growth in recent decades has been credited to its closeness to Toronto, although it has unquestionably become a destination and a world-class city in its own right.

Mississauga is known for its access to green spaces and parks, walkability, retail and restaurants and the peace of getting around/public transit. All these factors have contributed to the growth of this country seamlessly.

2.      Montreal

Montreal is the exotic French heart of Canada that has been hit hard with COVID-19. But a return to happier days is never far here. Despite the repeal of iconic programming like the Grand Prix, the city developed quickly to turn major streets into creatively styled outdoor hangouts with art and music and greatly improved bike lanes. 

3.      Brampton

Brampton's vibrant and culturally diverse society, which makes this city one of the best place to live. The foot variety that you can get in Brampton is unparallel and unwinnable in any other city. Moreover, the City of Brampton operates a yearly outdoor market that works from June to October, providing residents and visitors with the possibility to purchase from a diverse collection of fresh produce, prepared foods, baked goods, and artisan goods. 

There are so many properties type available in the location that you can make your own. Condos, Mobile houses and pre construction semi detached house for sale in Brampton are easily available for those who want to get in there. 

If you are looking for a multicultural, affordable city, you need to consider these once overlooked locations closely. Of course, there are other locations in the GTA where you might choose to call home. If you're hunting for a house in any of these cities, you can get in touch with us for further information. Contact us at: info@catherinenacar.ca or call at +1 905 867 4828

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Planning to buy a house in Brampton? Watch for these points.

Owning a house in Brampton is always a dream for any individual or a family. There are some important points which must be known or kept in mind before taking a decision on ownership of the condo, as it is a life-time decision.

1.     Must plan the budget and see the affordability of the unit. 

2.     Look for the payment schedule, what is the down payment and availability of loan facility. 

3.     Prefer to hire a reputable real estate broker/agent knowing the latest market and rates of the houses, condos.

4.     Plan and decide clearly about the need of number and size of rooms. 

5.     Know the reputation of the HOA: Must check whether the Managing Company is the first owner or the building has changed multiple hands.

6.     Know the reputation of the builder: What are the other condo buildings have the builder to their credit and whether those condos have withstood the tests of the time?

7.     Is the property free of legal disputes? Check for the risk of any additional liability.

8.     Must check the percentage of condo owners vis-à-vis residents on rent: higher percentage of residents owning the properties will be indicative of better maintained building and the other common areas.

9.     Security of the building: Must check the procedure of entry and exit of guests or strangers. The availability of security cameras.

10.     Safety of the building: Whether the building has been provided with fire- fighting system? What are emergency exit points?

11.     Number of elevators: Whether there is adequate number of elevators?

12.     Have the building energy efficient measures to reduce on utility costs.

13.     Look for entry of natural light and cross ventilation.

14.     Has the building back up power system to ensure continuity of power supply?

15.     What is garbage disposal system?

16.     Look for parking space: Is it big enough? Is it located conveniently? What about visitors’ parking?

17.     Availability of amenities like swimming pool, gym: Check for condition and maintenance of these

18.     Look for playing space for kids: Is it adequate and safe for them?

19.     Must see the availability of Green space and areas for having a walk and exercises.

20.     What restaurants, grocery stores are available in the locality?

21.     What are the important services like home delivery available?

22.     Is there availability of emergency medical facilities nearby?

23.     Must understand and cross verify the carpet area, super area etc. of the unit

24.     Floor finish of the condo unit must be checked for its quality and comfort and ease of walking.

25.     Check the internet speed and of quality of TV signals and hook-up points.

26.     Look for the Air conditioning of the unit and the building and their energy efficiency.

27.     Look for the regular availability of clean drinking water.

28.     What are the rules for any alteration or modification in the condo?

29.     What are the rules for keeping the pets? You must know these beforehand so as not to be in a difficult situation later.

30.     Is the area in the vicinity having any air or noise pollution causing industry?

     If you are also planning to buy any type of new house, the best Property Management Company in Brampton can help you out in finding your dream house. Contact Catherine Nacar today at info@catherinenacar.ca or call at +1 905 867 4828…

Best Wishes for House of Your Dreams

 

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