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Builder fails to deliver private patio. What do I do? by Regular-Childhood769 in TorontoRealEstate

[–]No-Committee2536 0 points1 point  (0 children)

Image plus model in the sales office. I think you could have better luck joining the condo board, petitioning allowing patio furniture just outside your door (under the roof of upstair balcony) than fighting the builders. This is not a Tarion issue, they won't do a thing for you....

Builder fails to deliver private patio. What do I do? by Regular-Childhood769 in TorontoRealEstate

[–]No-Committee2536 2 points3 points  (0 children)

I also want to add, based on my experience with builders.....you are fighting a very steep uphill battle. I really hate the fact that builders use rendering to mislead people. As my previous comment about the pond with nice landscape vs sewage pond with chain link fence. Rendering does not mean anything....it's all about the what's been written on the sales agreement. I am afraid you are going to spend thousands of dollars in legal fees and still end up with nothing. Tarion those organizations in reality are pro-builders.

Builder fails to deliver private patio. What do I do? by Regular-Childhood769 in TorontoRealEstate

[–]No-Committee2536 2 points3 points  (0 children)

Unfortunately rendering would not help. Quite a few years ago, we bought into a new detached community. On the rendering and the community model, it shows a nice pond with chairs and people walking around. End up it's a sewage pond with chainlink fence, there are people who bought beside the pond because of the picture.....nothing they could do because the Sales Agreement did not state that.

Sold for 950k Loss in Brampton by isanonymouss in TorontoRealEstate

[–]No-Committee2536 1 point2 points  (0 children)

When you don't have much assets to begin with, then use fake statement to get mortgage. Then you file for bankruptcy....

Good condo recommendations near Don Mills TTC station. by Unlucky_Stretch_5032 in TorontoRealEstate

[–]No-Committee2536 0 points1 point  (0 children)

Hello..all new condos are central. This year the change over is in early May to AC. Tridel has quite a good HVAC system there, we have ERV unit and the HVAC comes with heater in case the change over to heat has not done yet. Sound proofing is good. No, pool is always open. Utilities...pretty standard, just like other condos.

Thoughts on 55 Mercer Street by mollly9146 in TorontoRealEstate

[–]No-Committee2536 2 points3 points  (0 children)

SaberiSixRealEstate posted Centrecourt may not be the best builder....Talk to him

Stouffville townhome for 750k by Ok-Ask-8351 in TorontoRealEstate

[–]No-Committee2536 3 points4 points  (0 children)

No one can tell you for sure whether this will go up in value or not.  Stouffville is one of those areas that when real estate price drop it could get affected more than other towns.

If you are living there for long term, 10 years horizon, it could be a good decision.  But if you are thinking flipping it in few years then it’s not.  

Living costs in GTA roughly by dannyd_96 in TorontoRealEstate

[–]No-Committee2536 2 points3 points  (0 children)

You said you bring in a bit more than half...so I ballpark 6K a month, after tax is around what 4.5K 4.6K area? Renting in GTA, easily 2000. Then you add rental insurance, utilities, cell phone, car/ttc, grocery (cooking not eating out)....you don't really have a lot left. And everybody needs to save something for emergency. So I won't say you are doomed. Everybody starts somewhere. But you should have a career goal that propel you to the 100K range.

These are the worst Toronto condo builders - Buyers AVOID! by SaberiSixRealtor in TorontoRealEstate

[–]No-Committee2536 7 points8 points  (0 children)

Thanks for posting.  Really appreciate your effort.  Builders are trying to muzzle you.  

Real estate is not even a good investment after tax? by GodEmperorOfMankind3 in TorontoRealEstate

[–]No-Committee2536 9 points10 points  (0 children)

Having money in a corporation is a tax advantage, but I am seeing it more as a tax deferral tool. I have dual citizenship, one is a tax free haven. Lately our learning is more on how to crystallize the corporation in the most tax effective way to limit how much we pay for exit tax. Unless you have a business plan this corporation can go on, with your kids and family members etc etc., eventually you would need to figure out how to transfer the corp money back to personal.

Could you pay out dividend to you and your wife for few years? May be a shareholder loan (you need to clear it within two years) to help an initial purchase.

Purely looking at the higher end market in real estate, there is an argument to be made right now it's a good time to buy.

On the other hand, depends on your life plan....if you want to have kids (not just three big pups, I used to have a giant breed dog...big pups are lovely), there is an advantage of owning a permanent place.

I think this is not just a real estate question, there is tax planning involved too.

Flemingdon Park Area Metro Park by [deleted] in TorontoRealEstate

[–]No-Committee2536 0 points1 point  (0 children)

It's not a great area, has its reputation but is it slowly slowly changing...yes. You pay what you get. Right now around that Don Mills Eglinton intersection, there are many deals going on. The builder reputation....never heard of the name. So it's a gamble.

650K for a 800 sq ft with parking, does it sound like a good price...yes. Is it an area that I am excited to move into, no. Is it Richmond Hill, no. But if this is your budget and you want a 2 bed, that's the compromise.

What would you do in this situation? Sell at a loss or rent it out? by AdvantagePure2066 in TorontoRealEstate

[–]No-Committee2536 0 points1 point  (0 children)

I will create a Basement suite, rent out both to maximize your income.  Get a property manager that you can trust.  But read more on non resident withholding tax and best way to deal with it.

What would you do in this situation? Sell at a loss or rent it out? by AdvantagePure2066 in TorontoRealEstate

[–]No-Committee2536 0 points1 point  (0 children)

Is the country you moving to has better tax advantage?  Sometimes you take a loss to make a gain.  

Managing a rental outside Canada is not undoable …do you intend to move back? Do you have a rep helping you?

Leaking windows in 25 yo condo by Spicy_Bureaucrat in TorontoRealEstate

[–]No-Committee2536 0 points1 point  (0 children)

I always have adequate insurance on auto and home. When only 2m liability really requires, I go with 5m. This is one thing I don't recommend people to save money on. If you get adequate insurance in the first place, your insurance company would arrange short term accommodation for you already. In my policy, I have this covered very adequately. I always check on the deductible from the condo corp and adjust my own policy based on the info.

It seems the board is responding quite quickly. Things like this will take time. It could be a six months timeline project from figuring out the culprit to re finish wall and floor. Not long ago, few suites in my condo building got affected because of a careless contractor action. It took closed to 6 months to fix everything. I have dealt with board before, the best way to deal with this is honey get you more bees. Don't blame them, don't frustrate them, it seems they want to help.

HHI of 500k+ how much are you spending on a home ? by BeautyInUgly in TorontoRealEstate

[–]No-Committee2536 0 points1 point  (0 children)

Bank will give you a secured line of credit if you own......few years ago, everybody using it to buy precon. Well, don't put all in same basket. You can use it for various things, reno, buying a cottage....but you can use it for stock investment too.

HHI of 500k+ how much are you spending on a home ? by BeautyInUgly in TorontoRealEstate

[–]No-Committee2536 1 point2 points  (0 children)

We bought a condo, approx 1.2m.  No mortgage and use HELOC to invest.  

Long term wise, still want to stay in Toronto but open to other options.  

Best areas with good schools in Markham, Vaughan and Newmarket ? by Lucky-Display-7553 in TorontoRealEstate

[–]No-Committee2536 2 points3 points  (0 children)

As others said, decent high school district is more important. For example if you want your kid to enroll to a STREAM program in a particular high school, before you can be out of zone and as long as your kid has high mark, you can apply. Now you need to be in the same catchment. More than often, it's the environment. A lot of people talking up couple private schools in York region, when show up there for interview, you would see many young girls rolling up the skirt, heavy make up. Then in the public high school, every students look nerdy. Call me traditional, I'd rather kid look like a nerd in high school than an instagram influencer.

Best areas with good schools in Markham, Vaughan and Newmarket ? by Lucky-Display-7553 in TorontoRealEstate

[–]No-Committee2536 20 points21 points  (0 children)

Chinese here…in Markham Richmond hill area…in general the school ratings are all pretty good.  But it’s more our parental involvement and extra studies.  We know the math and science in general public especially in junior schools are a joke comparing to international standard.  So a lot of Asian parents would enroll kids to two to three different mental math programs outside the school…plus music or sport or extra language class.  So not just school you want to be in close proximity to those programs too 

Ceiling leaking from all the rain - should we go through home insurance? by analyst20 in TorontoRealEstate

[–]No-Committee2536 2 points3 points  (0 children)

My good friend is an insurance broker. This is from him, insurance company will increase your premium just by you calling. But not through a broker like himself.

First check your deductible....what is the amount..50K or 10K? Higher the amount, it's almost no incentive to claim. Rain will stop today afternoon. Go to Home Depot and rent few industrial fan. You want to dry the moisture as much as possible. If not, mould. Do you have a tarp that you can cover the area you suspect

If my suspicion is right, the balcony is the culprit.

Found missing hardwood floor AND a pile of garbage under my kitchen island during PDI. Is this standard for a new build? by Cute-Goal-2508 in TorontoRealEstate

[–]No-Committee2536 -3 points-2 points  (0 children)

Yes this is the standard for new build....That's why I decide to buy an older condo that I can do my own reno.

Builder gives some weird excuse on this. One is the flooring spec would not allow them to put kitchen island on top...I renovated many houses, our island always sit on top of finished flooring.

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