First Time Home Buyers Resources Online

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Buying a Home & Your Taxes, federal income tax return, first time home buyers, First Time Home Buyers Resources Online, income tax return, refundable tax credit, time home buyers

The Home Buyers Plan (HBP)

The Home Buyers Plan allows you to borrow up to $25,000 from your RRSP’s tax free to buy or build a home. Each plan holder (home owners) may withdraw up to the $25,000 limit their RRSP accounts except for locked-in accounts. This means that the combination of withdrawals from you and your spouses’ RRSP’s cannot exceed $50,000.
Buying a Home & Your Taxes

Who Qualifies For The HBP?

You can use the HBP if:

• You or your spouse have not owned and occupied a home as your principal residence in the preceding 4 years, or
• You are buying or building a home for a disabled person who is related to you.

Do The Funds Have To Be Used To Build or Buy A Home?

No. You can use the funds for any purpose you like. You only have meet the qualifications.
Home buying advice for first timers

Is There Any Tax On the HBP Withdrawal?

The withdrawal under the HBP is tax-free but there are things you have to do to ensure the withdrawals remain tax free.

1. The funds withdrawn must be used to acquire a home before October 1st of the year following the withdrawal.
2. The funds must be repaid to your RRSP over a maximum of 15 years. These repayments begin in the second year following the HBP withdrawal. The minimum repayment is 1/15th of the actual HBP withdrawal. If you do not make a repayment, 1/15th of the withdrawal will be added to your income in the year is was due.
3. To ensure you have disclosed your repayment appropriately, be sure to complete Schedule 7 of your Federal Income Tax Return.

First Time Home Buyers Tax Credit

If you bought a home after January 27, 2009, you may be entitled to claim the $2,000 first time home buyers tax credit. This is a non-refundable tax credit that can be claimed either by the purchaser of the home or their spouse.

Buying a Home & Your Taxes

Successful Real Estate Investment Strategy

First Time Home Buyers Resources Online

Please visit me on line for your home, business and investment search on www.vijaygandhi.com

Instant price estimates for property. Is it impossible or possible?

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cma, comparative market analysis, Instant price estimates for property. Is it impossible or possible?, Market Evaluation, property

Instant price estimates for property. Is it impossible or possible?

 There are some online appraisal websites where if you click on the tab and enter an address it will ask a few questions and give you a value estimate. You are required re-read the cautions about the service as it does have some limitations. That being said, I have played with the tool, and it is not too scary as thought but if it is accurate? !!!

Some REALTORS do over the phone evaluations. And they claim to be exactly and precisely right. Although I will do them in certain areas that I am highly familiar with I always recommend allowing a proper market evaluation as some things you may not mention to the REALTOR may alter the value either up or down, and ultimately not seeing the property does not allow us to give you the best Market Value Evaluation. If you would like an instant price estimate look in your mail for a local & Licensed REALTOR who advertises over the phone market evaluations and call them. I however caution you that you would do yourself far better service to contact a reputable Licensed REALTOR and invite them to your home. Good Luck and have a great day.

I’ve been in the business for a time and never do estimates from my desk or home office. Sorry, I’m not Magician and a house can be from zero to a hero, I mean unpredictable on unseen. In essence, I do not offer “no service kind of service”. There is none in the world who can guess what your house is like, how much you have spent in upgrades over the home ownership period in comparison to your neighbour who still has green shag carpets from 1969 and war torn hardwood from dog nails etc. When you pay nothing, you generally get nothing. I will not sign an estimate if I do not have all the facts considered and reviewed personally.

If you do want a quick and very rough estimate of the value of your home, I would look to your assessed value for property tax purposes, the report you get every year from MPAC report. It will likely give you an idea if your property is worth $300,000 or $3 million. But if you want more insight then call a reputable realtor for a proper comparative market analysis (CMA). This analysis CMA will give you a better idea what your property would actually sell for in the current market conditions.

Many factors come into play for CMA – what is the overall real estate market like, what is the market like for your specific property, what condition is your property in and how does your property compare to similar homes currently listed right now, so it is called comparables. For example, if your neighbor with a fairly similar property accepts a low ball offer because he already bought the new home and he is anxious to sell this old one that is unfortunately going to affect the market value of your property. Most importantly this estimate is likely to be a range rather than a single number, like the estimate of price could be “from $410k to $430k”. Some properties are difficult to put an accurate price on and the sales price obtained could be within a large range. Other properties are in an area with many similar properties that have sold recently and are a little easier to put a price on within a fairly tight range agreeable to seller.

I spend a considerable amount of time on each comparative market evaluation that I do and I think my clients would agree that I provide useful information that would be difficult to obtain automatically or instantly. I think in this situation the phrase “If it is worth doing, it is worth doing right” is so true. I always research properties on-line and off-line before I actually visit the property to do a market evaluation. It is getting easier to find information online but there really is no substitute for seeing a property, its setting and comparable properties in person.

Hopefully the ‘instant’ Market Evaluation that you seek will not be used to determine the price to list your home. You can probably get one or two evaluations at no expense to you anyway from your local real estate brokerages. It may not be instant, but it will be customized for your unique home and not just made up ones & instead of based on last year’s statistics for all homes in the city.

I am sure you will agree with the personal talk we had thru this article, if you like to have your property evaluated you can contact me directly on cell and arrange appointment or contact me online to set an appointment of your property.

Email: vg_remax(AT)yahoo.ca , Direct: 647.267.6338, web: www.vijaygandhi.com

Experienced and Savvy Investors Buy in December to March Winter Months

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Investors Buy in December to March Winter Months

Experienced and Savvy Investors Buy in December to March Winter Months

Why do a Large Number of Experienced and Savvy Investors Buy in December to March Winter Months?

For a few personal reasons, some people have no time limit (expiration of apartment lease, etc.)and so they really wait until they find something they love to do before purchasing like marrying, which can come at any time, including the snowy winter months as well.

Also, if a property has not sold over the busier season (spring and summer), owners as well as realtors tend to drop the asking price a little to attract more investors to the property. So sometimes, you can get a better deal on a property in the winter months as opposed to the months where the most investors are searching the housing market. Investors think that there is a possibility of better deal to be had….but, many times it is not so….you need right investor agent who can navigate thru this surfing and searching.
There is one good reason is that there are fewer sales and fewer investors in these months so some investors see that as a great time to get a deal. Some houses do not show up in the realtor search as it is in the batches on system for group of years like under 5yrs, under 10 years & so on, so those comes up as soon as the new year starts, also the possible search criteria also changed altogether.

If a seller has placed a conditional offer on a new home and theirs is still not sold by the winter, you may also have an easier time negotiating as they have deadlines to sell their home, so the Investor have an opportunity.

Each selling and purchasing decision is based on a variety of different motives. It’s often case by case and so does just like credit ratings its all depends on individuals.

Don’t be fooled though, some of the statistics I have seen have shown that December is also a good time to sell, and recent years you can verify mls.ca stats, winter months are not bad producing months as well, Because fewer inventories on the market mean less competition, and if investor is in need and do not want to wait despite realtor try to wait for new match property comes up in market. Sometimes good houses do not sell because the competition is fierce and even though they may be priced and war of price so hot, to-gather competitively, they fail to sell because if excess inventory levels. Over major portion of the houses listed in GTA last year in December sold. This made it the number: one month to sell if you want to have an edge on the market inventory if you think and plan properly and willing to take risk with good experience agent and with lots of ice over the head.

Some of my clients save up and buy this time of year. Most investors do not want to be bothered over the Christmas season but investors know that offers at this time of year are scarce at best. This is the time of year when those of us agents that represent investor investors are the busiest. Feel free to contact me if you wish to explore the investor market, there are a lot of great deals out there right now that my clients are snapping up! Would you like to wait or go depends on your choice.

Another good reason is that in winter months only serious sellers remain in the market just like serious investors and price the property accordingly well to sell and ready to make a deal before spring market competition starts. Negotiations take place well when both parties are motivated. An experienced Realtor can get you a great deal in winter.

Always hire the proper agent: www.vijaygandhi.com and save you a lot…

Scarborough RT to close between 2015 and 2019 | Scarborough TTC riders will be stuck with buses for 4 yrs.

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rapid transit, Scarborough RT, SRT, stc, TTC

Scarborough RT to close between 2015 and 2019 | Scarborough TTC riders will be stuck with buses for 4 yrs.

TTC ridership in parts of Scarborough is expected to plummet after the 2015 Pan American Games as the obsolete rapid-transit line is shut down for four years of construction, warns general manager Gary Webster.

Dozens of extra buses will be added to the route between Kennedy Station and Scarborough Town Centre while the updated light rail system is built, but Webster thinks people are likely to return to their cars until the LRT opens in 2019.

“We’re going to drive people away from transit, there’s no question,” he said, noting that a parallel bus service that’s operated for years alongside the SRT has never been embraced by riders.

Meanwhile, Webster said the full length of the Eglinton-Scarborough Crosstown LRT won’t be done until 2022, although Metrolinx maintains it can be finished by 2020 and is considering a public-private partnership to speed things up.

To any constituents who are angry they’ll be stuck with buses during that time, local Councillor Chin Lee says: Be careful what you vote for.

Lee said he had an understanding with former TTC chair Adam Giambrone that the planned Sheppard LRT should be complete before the SRT — which is on its last legs — was torn down.

“He agreed with me on that,” said Lee. “Unfortunately, the subway advocates were a very vocal group and the mayor listened to them.”

The Transit City plan, which included a Sheppard LRT linking with the SRT at its northern end, was cancelled in favour of the mayor’s subway vision. And the Eglinton light rail plan, connecting seamlessly at the southern end, was moved underground, which takes significantly longer to build.

“Just be careful what you ask for and think of all the implications, not only just the short term,” Lee said.

As he finished speaking to reporters, the mayor’s brother, Councillor Doug Ford, said: “I totally disagree with those comments, 100 per cent,” before returning to the budget committee meeting.

The SRT, with its cars resembling a mini subway train, opened in 1985 to much fanfare. Today, it moves up to 5,000 riders an hour at peak periods.

The TTC will put between 20 and 30 extra buses on the road to accommodate the closure, but it’s likely to take significantly longer to get from point A to point B on a bus.

Left-wing Councillor Gord Perks said the mayor has let down the people who elected him. “Scarborough voted for a transportation plan that was supposed to get them more. Now they’re finding out they’re going to get dramatically less,” he said.

source: http://www.metronews.ca/toronto/local/article/1043474–srt-to-close-between-2015-and-2019

comment
gtarealtyagent |6:23 PM | Dec 07, 2011

@ STC lots of condo get built as the commuter get way out from there to DT toronto, can you imagine…………no SRT means to them?, please discuss… Alert a moderator

please leave your concerns and comments here:

 

Variable Rate Mortgage or Fixed Rate Mortgage : Buyer’s Choice

Fixed Rate Mortgage vs. Variable Rate Mortgage

One of the many decisions home buyers have to make is to decide between choosing a fixed and variable-rate mortgage. With rates being so low, it confuses buyer now as may be the time to choose to go variable.

By choosing a fixed-rate mortgage, you are locked into an interest rate and your payments stay consistent over a given term and period unless you decide to use other options allowed under mortgage terms and your agreement. For first time home buyers taking on a huge amount of debt, a fixed-rate mortgage may help them sleep a little better at night. The homeowner will be paying more in interest, but they will know exactly what they will be paying for the entire mortgage term.

The homeowner that chooses a variable-rate mortgage can expect payments to fluctuate as interest rates rise and fall. For that reason, the homeowner usually gets a better interest rate reflecting the improbability and increased risk. (As Finance Minister recently made comment over we can believe the interest rate may not be rising sharply in this near future, but you never know it can definitely fluctuate).With the central bank rates barely changing over the past year, and not expecting to change any time soon, lenders have been closing the gap between fixed and variable mortgage rates. With the rate gap shrinking, it means it’s a good time to think about choosing a variable-rate mortgage, the buyer have more grip over the mortgage deals.

There are a few factors that favour choosing a variable-rate mortgage. Over the last fifty years, variable rates mortgage have been approx. 1% cheaper than fixed-rate mortgages. The last time variable rates were at a disadvantage compared to fixed-rates mortgage was in the late 1980’s, when the rate get huge surge.

Variable rates mortgage in Canada are near an all time low. Recently, The Bank of Canada indicated they’ll be keeping interest rates low as they are uncertain about the North American and European economy. Since the U.S. Federal Reverse promised to keep interest rates low through 2012 and 2013, and Europe is facing debt crisis, we can expect rates to stay low in Canada as Canadian interest rates usually don’t much differ from rates in the U.S.

Some of the top mortgage lenders/ mega brokers/ financial institutions in Canada think rates might drop even lower; it all depends on government monitory policy and economical recovery…

When it’s time to sell your house and you are not at the end of your mortgage term, it’s cheaper to break a variable rate mortgage than a fixed rate mortgage. Typically when you break a fixed rate mortgage the penalty is the greater of three months interest or the Interest Rate Differential. If you’re looking to break a variable rate mortgage you are only subject to a penalty of three months’ interest or better yet verify with your mortgagee, lender, bank, financial institution.

One of the great advantages of choosing a variable rate mortgage is you can lock in all or part of your mortgage at a fixed rate anytime you want, when it is variable open. if you did locked in for variable rate for certain period, your mortgage obviously with variable rates mortgage are a riskier product to choose, but it’s a risk that can really pay off as well. If you’re not a risk taker, ask your mortgage lender broker if they offer a half fixed and half variable product. It’s better of both world 50/50 mortgages.

Talk to us before you decide to buy real estate, renewal, refinance, 2nd mortgage, equity loans, cash back mortgage, or pre-approval…
Vijay Gandhi,
Sales Representative- REALTOR^®,
RE/MAX Dynasty Realty Inc. Brokerage*
&
Mortgage Agent Licence #: M10001947
CENTUM Metrocapp Wealth Solutions Inc.Licence #: 12147

C: 647. 267. 6338
(Direct-Leave message or text)
P: 416.335.4335 | 905.471-0002
(page me-Have me)
F: 905.471.7441

How to Invest in Canadian Real Estate & Win*

Vijay Gandhi,
Sales Representative- REALTOR^®,
RE/MAX Dynasty Realty Inc. Brokerage*
C: 647. 267. 6338
(Direct-Leave message or text)
P: 416.335.4335 | 905.471-0002
(page me-Have me)
F: 905.471.7441
E:vtgandhi@yahoo.com , vgandhi@remax.net
W:  www.vijaygandhi.com  www.gtarealtyagent.com , www.icxforsale.com

PAINTBOX CONDOS IN DOWNTOWN TORONTO EAST

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condos toronto, downtown toronto, floor plans, life in toronto, PAINTBOX CONDOS IN DOWNTOWN TORONTO EAST, suite features

A vibrant New Way of Life in Toronto’s Exciting Downtown East

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Jade Waterfront Condos – Pre-Construction Opportunity

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condos toronto, Jade Waterfront Condos, lakeshore boulevard, quadrangle architects, waterfront condominiums, waterfront condos

Jade Waterfront Condos
MORE INFO ON SPECIAL BLOG CLICK HERE

http://jadewaterfrontcondos.wordpress.com/

Sleek! Modern! Urban! Jade Waterfront Condos! : Welcome to Toronto’s new edge of cool waterfront living.

October 15, 2011 by gtarealtyagent | Edit

Jade Waterfront Condos, a development over 4 years in the making is about to make its debut.

I haven’t been so excited about a new condo project in a while. I will have Platinum Access to sales before 99% of Toronto agents and months before the doors are opened to the public. My clients who have purchased at Jade Condominiums at Bayview and Sheppard have made between $40,000 and $110,000 in less than 1 year. In most cases, that has been 100% ROI.

Jade Waterfront Condos, Toronto’s dazzling new jewel of lakeside living. With its dynamic architecture, resort inspired amenities and stunning views, Jade represents the new edge of cool waterfront living.

As a priority registrant for Jade Waterfront Condominiums, you’ll get first choice of suites, views, floor plans and purchase opportunity, ahead of the general public! This guaranteed Platinum Access will allow you to make the most return on your investment.

Sign up below for VIP Access to Jade Waterfront Condos and receive lower prices, higher incentives and first opportunity to buy the best units.

In 2007 the owners at 2175 Lakeshore Boulevard West submitted a proposal to the city of Toronto to build a new condominium tower. After careful planning and a powerful developer taking the reigns, ‘Jade Waterfront Condos’ is almost ready to launch.

Phantom Developments purchased the site last month and plans to build a 34 storey residential tower with a park and three storey commercial tower to the north.  A two storey podium will connect the commercial tower to the residential tower to the south.

The residential tower designed by Quadrangle Architects will feature 289 one and two bedroom suites.  Interestingly, there is no studio or 3 bedroom floor plans expected to be released.    Thomas Pearce Interiors has been hired to design the interiors.

The area is called Humber Bay and has been very popular for new condo developments over the last five to ten years. Camrost-Felcorp (Sunset Condos at Mystic Point and iLoft at Mystic Pointe), Empire Condominiums (Eau Du Soleil), as well as Monarch’s Developments (Nautilus at Waterview, Waterscapes The Condominium and Lago Condos) have attracted developers and buyers to this location because of the close proximity to the downtown core and the numerous amenities offered.

Register here to receive Floor Plans, Prices and Special Discounts for Jade Waterfront Condos!

Posted in Uncategorized | Leave a Comment »

Happy Thanksgiving to all clients & friends

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Happy Thanksgiving

Happy Thanksgiving to all clients & friends

Vijay Gandhi,
Sales Representative- REALTOR^®,
RE/MAX Dynasty Realty Inc. Brokerage*
&
Mortgage Agent Licence #: M10001947
CENTUM Metrocapp Wealth Solutions Inc. Licence #: 12147

C: 647. 267. 6338
(Direct-Leave message or text)
P: 416.335.4335 | 905.471-0002
(page me-Have me)
F: 905.471.7441
E:vtgandhi@yahoo.com , vgandhi@remax.net
W:  www.vijaygandhi.com  www.gtarealtyagent.com  www.icxforsale.com

The Station Condos – One day only, don’t miss out – UP TO $30,000 OFF AND ONLY 10% DOWN UNTIL OCCUPANCY*

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http://condosupermarket.com/the-station-condos.php

The Station Condos – One day only, don’t miss out

ONE DAY ONLY!
UP TO $30,000 OFF AND ONLY 10% DOWN UNTIL OCCUPANCY* ON SELECTED SUITES THIS SATURDAY, SEPTEMBER 24TH ONLY…Book before to get benefits
FIRST COME. FIRST CHOICE. DON’T MISS OUT.

The Station Condos offers the best value anywhere and now, for one day only, it’s even better. The Station is over 70% sold and construction will soon start at this amazing North York location directly on the subway. Choose from two or three bedrooms, with generous den, expansive living area and spacious balcony. You get Terrance Lukas-designed interiors, with oversize showers, windowed ensuites, stainless steel appliances and eco-friendly laminate flooring throughout. Plus, enjoy the red carpet treatment in all the fabulous amenities like The Studio Club fitness centre and Urbanas™, the city’s first indoor/outdoor party rooms, complete with heated barbeque terrace. The best condo value in town is now even better. Visit our Presentation Theatre and Model Suite during our amazing One Day Inventory Sale.

 

BE THE FIRST TO GET A SNEAK PREVIEW OF THE SPECTACULAR GARDEN SIZE TERRACES IN OUR EXCLUSIVE PENTHOUSE COLLECTION. IT’S LIKE HAVING AN OUTDOOR LIVING ROOM IN THE SKY. FABULOUS.

2 BEDROOM SUITES START AT $359,900
3 BEDROOM SUITES START AT $449,900

Contact Sales Rep. 647.267.6338 | vgandhi@remax.net

*See Sales Representative for more details.

Prices and specifications subject to change without notice. E. & O. E..

Book here

http://condosupermarket.com/the-station-condos.php

the station condos features