How cannabis legalization will affect condo rental properties and Toronto real estate? As of October 17th, 2018, the Cannabis Act (Bill C-45) will take effect which will provide for the legalization of recreational use of marijuana. Many details of the regulations will be left up to the provinces and municipalities to enforce. For Ontario, individuals must be 19 or older to be pemitted to smoke or grow up to 4 cannabis plants in their private residence. The current Residential Tenancies Act does not prohibit smoking or vaping of cannabis in a rental unit. "Toronto Star Article: Cannabis in condo is a hazy matter" Cannabis-Free Environment Rules in Condominiums Condo corporations have the opt

The modern age of technology has transformed the 9 to 5 workplace, with more individuals to run their business from anywhere and conduct business out of home. There are definitely options for live/work space in Toronto, from commercial storefronts with a living unit above, live/work lofts on one or two levels, homes re-configured with a workspace near the entry , a separate entrance or a two car garage transformed into workspace at the back of a house to receive clients. Some buyers may want to live in a mixed-used master-planned community where there are options to share a coworking space nearby. "Toronto Star Article: In Toronto's tough rental market, live-work units offer ideal option fo

Is now a good time to buy a house in Toronto? With the stress test, Canadian interest rate and rental prices trending upwards, you are probably wondering if you should get into the market now. There are a few things to consider if you are thinking of buying your next home whether you are a renter, a first time buyer or a move-up buyer. For Renters and First Time Buyers: What will be your monthly mortgage payments be like if you buy compared to renting a similar unit? Do you have enough savings for the downpayment and closing cost? These funds should be readily available. You will be eligible for the Land Transfer Tax rebate if you are a first time buyer. Part of your mortgage payment will be

Buy a bungalow. There is no better time! There is no better time to buy a bungalow in Toronto since the 2017 real estate price correction. Freehold detached home prices have adjusted. Buyers can now find urban bungalow lots with 25ft to 40ft lot frontage for a reasonable price. This is equivalent to buying land with a structure with the option to build to highest and best use. Pros of living in a bungalow With an aging population, active seniors and empty-nestors are downsizing to bungalows as a retirement living alternative instead of condos. Amongst move-up condo dwellers, bungalows are a good entry level option to get into the freehold market. A house with a yard and green space is still