Unlike the downtown areas that are typically heavier in pedestrian traffic and have easy access to take-out food at all times of day, the suburbs have a higher reliance on cars or public transit to get around. Some public transit routes are being modified with reduced frequency due to lower ridership during COVID-19, and many dining options have been shuttered. Luckily, there are still plenty of take-out and delivery venues ...
New Residential Rental Property Rebate (NRRP) The majority of builders in Ontario include the HST rebate in the sale price of a home when they market to the public. This means that they price the property lower with the expectation that they are claiming the HST rebate back on behalf of the buyer. 1. Prepare for the extra money for closing.As investors, we cannot declare that we are moving into ...
If you had planned to purchase a home this spring, the COVID-19 situation might be putting that plan on hold as a lot of open houses and in-person home showings are being cancelled or postponed. As of March 21, 2020, the Toronto Real Estate Board (TREB) and Ontario Real Estate Board (ORB) strongly recommend the pause of “in-person open houses during the Ontario State of Emergency”. This is in adherence ...
The COVID-19 crisis has resulted in numerous business closures, job losses, lay-offs, and tough economic times for many. Here are some of the governmental initiatives that have been announced to help home owners, renters, and potential home buyers during these unprecedented times. For Home Owners: Mortgage Payment Deferrals for Up to 6 Months The Canada Mortgage and Housing Corporation (CMHC), which provides default insurance for insured loans, has announced ...
There are a lot of uncertainties surrounding COVID-19, how it’s impacting the GTA real estate market, how long the situation will last, and factors that will play a part in your decision to buy or sell now or later. Below are some of the most frequently asked questions. General FAQ Is the GTA real estate market going to be heavily impacted by COVID-19? During economic downturns, the real ...
There are lots to learn from history. While the current COVID-19 situation is different from previous crises, there are lessons that can be taken from the past. Lessons from the SARS Outbreak in 2013 Although the SARS outbreak in 2013 did pose some challenges, the global and Canadian economies did not suffer as much damage compared to the fallouts from the current novel coronavirus outbreak. There was no significant ...
Developing a vaccine for any virus is no easy task. To this date, there is still no vaccine for the virus strain that caused the Severe Acute Respiratory Syndrome (SARS) outbreak in 2013. However, there have been many medical and technological advances over the past decade that are contributing to the current developments of a COVID-19 vaccine. To date, there are at least 20 vaccines that are in various stages ...
