Kate Naccarato's blog

Toronto’s Rental Market: A Wild Ride from $1,200 to $2,500+

Fifteen years ago, renting in Toronto was affordable by today’s standards. In 2010, you could rent a one-bedroom for $1,200—and if you were feeling fancy, a condo for $1,500. Fast forward to today, and that same unit will cost you $2,500+, with prices having skyrocketed, crashed, and soared again.

So, what happened? How did we get from reasonable rents to bidding wars for apartments? And why does it feel like Toronto’s rental market is always on a wild ride?

Let’s rewind and break it down.

2010–2015: The “Stable” Years

For most...

Toronto Real Estate Update: Renters Gain Leverage & More Buyers Enter the Market

Over the past few months, I’ve noticed a clear shift in Toronto’s real estate market. Rental prices have been cooling down, giving tenants more leverage, while on the buying side, more people are actively looking at properties again—especially with a potential interest rate cut on the horizon.

Let’s break down what this means for renters and potential buyers in today’s market.

Rental Prices Are Falling – What This Means for Tenants

After the record-high rental increases of 2023, Toronto’s rental market has...

A 25-Point Cut: Good News or a Temporary Illusion?

The Bank of Canada has officially cut interest rates by 25 basis points, a move many have been eagerly waiting for. At first glance, this sounds like great news—lower borrowing costs, potentially more affordable mortgages, and a step toward economic stability.

But—and it’s a big but—there’s more to the story.

The Bigger Picture: Economic Uncertainty Still Looms

While lower rates provide some relief, they don’t exist in a vacuum. Canada’s economic and political landscape is still filled with uncertainty, and that could affect the real...

Buying a condo is an exciting step, but it’s essential to go beyond aesthetics and thoroughly evaluate the property and its overall management. Whether you’re a first-time buyer or a seasoned investor, this guide will help you identify the main concerns and ensure a wise purchase.

1. FINANCIAL HEALTH OF THE CONDO CORPORATION

• Concern: Poorly managed finances can lead to higher maintenance fees or special assessments.
• What to Look For:
  • Review the status certificate for reserve fund details, fee increases, and lawsuits.
  • Confirm there are no major repair projects planned that might increase...

Real estate is one of the most significant investments you’ll make, but it comes with financial responsibilities, including various taxes. Understanding these taxes can help you plan better, minimize surprises, and make informed decisions. Whether you’re buying, owning, or selling property in Canada, here’s a breakdown of the taxes you need to consider:

1. Land Transfer Tax

When you buy property in Canada, you’ll need to pay a Land Transfer Tax (LTT). In Ontario, this tax is based on the property’s purchase price. However, Toronto buyers face an additional Municipal Land Transfer Tax...

Investing in Toronto's real estate market offers promising opportunities, but understanding Return on Investment (ROI) is crucial for making informed decisions. ROI measures the profitability of an investment, calculated as the net profit divided by the initial investment cost. In real estate, ROI encompasses rental income, property appreciation, and expenses like maintenance and taxes.

Calculating ROI in Toronto Real Estate

To assess ROI, consider:

• Rental Income: Monthly rent payments from tenants.
• Property Appreciation: Increase in property value over time.
• Expenses: Costs such as...

Are you interested in building wealth through real estate but unsure where to start? Whether you're a seasoned investor or just dipping your toes into the market, our Real Estate Investing Panel is designed to provide you with invaluable insights and strategies from some of the top experts in the industry.

This exciting event, Brewing for Wealth, will take place on November 14, 2024, at Brewing Brokers, where you'll have the opportunity to hear directly from professionals who have mastered the art of real estate investing.

What You’ll Learn: The panel will address three key topics that are...

Buying your first home is an exciting milestone, but it can also come with a few unexpected challenges. As a real estate agent who’s worked with many first-time buyers, I’ve seen common mistakes that can lead to unnecessary stress and extra costs. Drawing from both my professional experience and personal stories, here are some of the most significant mistakes to avoid when purchasing your first home.

1. Not Budgeting for Hidden Costs

One of the biggest mistakes first-time homebuyers make is underestimating the full cost of homeownership. Beyond the down payment and mortgage, there are...

Owning a home has long been seen as a cornerstone of financial stability and personal freedom. Governments have consistently encouraged homeownership by introducing policies aimed at making it easier for first-time buyers to transition from renting. In 2024, with a surplus of condos on the market and favorable government programs, first-time buyers have a unique opportunity to step into the housing market.

1. Government Policies That Encourage Homeownership

The Canadian government has implemented various programs and policies designed to make homeownership more accessible, particularly for...

What is a Vendor Take-Back Mortgage (VTB)?

A Vendor Take-Back Mortgage (VTB) is a unique financing arrangement where the seller of a property extends a loan to the buyer for part of the purchase price. Instead of relying entirely on bank financing, the buyer receives a portion of the mortgage directly from the seller. This type of mortgage can be used to bridge the gap between the buyer’s financial resources and the property’s asking price.

In 2024, vendor take-back mortgages have gained renewed interest due to higher interest rates and stricter lending criteria from traditional financial...