Sylvia Schmidt - Read My Blog

2023 Toronto Real Estate Predictions

Posted on Jan 26, 2023 in Buying Tips

Last week, as a real estate enthusiast, I decided to conduct a simple yet interesting poll to get a better understanding of where the Toronto Real Estate market is headed in 2023. This poll was an attempt to gauge the expectations of the general public and provide a better perspective on the state of the market this year.

It was just a simple 1 ques...

What to Expect When Living in Toronto During Winter

Posted on Jan 21, 2023 in Buying Tips

Living in Toronto during the winter can be a unique experience, especially for those who are considering a move to the city and may not be familiar with the winter weather here. But despite the cold and snow, Toronto is a city that doesn't shut down in the winter. The city does an excellent job of clearing the roads and sidewalks, so getting around...

Toronto Real Estate Market Update - January 2023

Posted on Jan 12, 2023 in Market Update

The Greater Toronto Area housing market experienced a significant adjustment in 2022, following record levels in 2021. The market was plagued by existing affordability issues, brought on by a lack of housing supply, which were further exacerbated by sustained interest rate hikes by the Bank of Canada.

"Following a very strong start to the year, home...

Is Toronto's real estate market cooling off?

Posted on Jan 05, 2023 in Homeownership Advice

For the past few years, Toronto's real estate market has been incredibly hot, with high demand and soaring home prices. However, recent data suggests that the market may be starting to cool off.

According to statistics, the number of homes sold in the Toronto area has declined in recent months, with a significant drop of 20% in both August and Septe...

Toronto Vacant Home Tax in Effect January 1, 2023

Posted on Dec 29, 2022 in Homeownership Advice

The City of Toronto's Vacant Home Tax (VHT) is a policy implemented by the city of Toronto in an effort to address the issue of housing affordability and to encourage the use of under-utilized housing units by increasing the supply of housing in the city. The tax takes effect January 1, 2023 and applies to all Toronto residential properties that ar...

Non-Canadians Banned from Purchasing Residential Property

Posted on Dec 14, 2022 in Buying Tips

Did you know...

On June 23, 2022 the Canadian government passed the Prohibition on the Purchase of Residential Property by Non-Canadians Act (also known as the Foreign Buyers Ban). Coming into force January 1, 2023 and effective until December 31, 2024. This legislation prohibits non-Canadian citizens and non-permanent residents from purchasing resi...