Foreign investment is often considered a major factor in high housing prices across Canada, especially in its major cities. Ontario recently began charging additional taxes for foreign real estate buyers. According to statistics from Toronto and the Golden Horseshoe, these steps may be working.
Condominium ownership comes with many benefits. But it also comes with rules and regulations that may govern everything from the cost of monthly maintenance fees to what type (if any) pets you can keep.
Neighbours can live side by side and in peace for years. But when one suddenly wants to put up a fence or cut down a hedge, conflict can easily ignite. Without clarity on property boundaries, simple bickering may eventually lead to costly litigation. Getting a land survey is one way to determine who owns what piece of real estate. But is a land survey always the end-all of a boundary dispute?
When choosing to invest in a condominium, buyers need to take monthly condo fees into consideration. Understandably, increases to these fees can cause a stir and many buyers want to understand what kinds of increases are allowed under condominium law. In Ontario, this has become a particular concern for many as condo fees have the potential to rise significantly, especially when special assessments are levied against condo owners.
As condo owners' lives change, they often have questions as to what their building will allow. One of the changes that often concerns Ontario condo owners is the addition of a new car and the need for parking. Many people wonder if condominium law establishes any protocol for obtaining an additional parking space in their buildings.
When searching for a condo, buyers should consider if a prospective unit will also be a comfortable living situation for any children or pets. With regards to the latter, condominium law and condo board regulations may be in place regulating the types of pets or pet behaviour allowed in a building. Those who own an Ontario condo and have a concern about a neighbour's pet or their own should be aware of these rules.