The Storey Team : Toronto Real Estate

Rent Increase

How much can my landlord raise my rent?  We have clients asking us this question all the time, and wanted to make a video to explain how the rules work in Toronto. If your condo was built after November 1991, there is no rent control in place.

Buying In Toronto?

Thinking of buying in Toronto? If you have been reading the news, the prospect of buying may seem scary, but the truth is that from 1980-2017 the Toronto market has gone up almost 7% each year. That's an annual increase even Warren Buffet would be proud of.

Down Payment Amount

How much money will you need for a downpayment? We recommend 20% if you can, but you can put down 5% on the first $500,000 of a purchase. Anything from 500,000-1M requires 10% on that amount. 

Closing Costs

When you buy a property in Toronto, what extra cost can you expect? We talk about LLT and lawyer fees, which are additional costs when buying resale. If you buy a pre-construction condo there are also builder fees and potentally HST.

House or Condo?

We had a client recently reach out to us asking which is a better long term investment... house or condo? The numbers would say it's a house, if you can afford the price difference, but in recent years the value increase in condos has been not far the housing market. We think it comes down to a lifestyle choice.