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Sam Chaim⁠ - Making A Difference For You!
Re/Max Realtron⁠
416-543-7252⁠
sam@samchaim.com⁠

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Selling your home doesn't have to be complex. Marketing your home is essential to finding and impressing potential buyers. ⁠

Here's some insight into how to get the most exposure for your listing. ⁠

If you're ready to list... call me today for a complimentary market evaluation of your home. ⁠

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Are you next? Contact me to discuss the first steps in buying or selling your home.
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First-time homebuyer? Looking to upsize? Embracing empty-nesting? Here's your recipe for purchasing your next home.
 
Ready to make the move? Contact me today to WIN on the home you've always dreamt of.
 
Sam Chaim⁠ - Making A Difference For You!
Re/Max Realtron⁠
416-543-7252⁠
sam@samchaim.com⁠
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**WATCH VIDEO**

Market Update! Must See!

How has the real estate market reacted to an increase in interest rates? How will the new Federal Budget impact the market performance?

Whether you’re thinking of selling your home or buying one, you should 100% join Realtron Broker/Owner, Alex Pilarski & General Manager, Cam Forbes as they make sense of it all.

So far…their predictions have been spot-on! And nothing will help you more to reach your real estate goals than working with a RE/MAX Realtron Top Producer.

Contact me to discuss how this impacts your home buying or selling decision!

Sam Chaim⁠ - Making A Difference For You!⁠
Re/Max Realtron⁠
416-543-7252⁠
sam@samchaim.com⁠

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Instead of reinventing the wheel, take a note from Grandma and try one of these five home cleaning hacks that have truly stood the test of time. 
 
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Great news is that there were no big surprises that will immediately impact our real estate markets in the April 7th budget. For now, let’s focus on Budget announcements that could touch us as Buyers, Sellers or Homeowners. There are some specific initiatives put forward that will help more Buyers get into the market which in turn will sustain future market resiliency for Sellers.

While the 2022 Federal Budget must still receive Parliamentary approval, here are key proposals within the Budget that touch on our housing markets:

1. Introduction of a Tax-Free First Home Savings Account (FHSA) - Designed to help First Time Home Buyers, Taxpayer Account Holders will be able to contribute up to $8,000 per year towards the purchase of a first home. An FHSA combines the features of both an RRSP and a TFSA.

• Like a Registered Retirement Savings Plan (RRSP), contributions will be eligible for an income tax deduction and the money will grow tax free inside the account.

• Up to $40,000 can be contributed, and then be withdrawn to purchase a first home, without tax consequences.

Details are sure to be released soon as the FHSA plan is expected to launch in 2023.

As a thought – Wouldn't it be wonderful if the FHSA and RRSP Home Buyers' Plan (HBP) could be combined into a super-sized down payment for a First Time Home Buyer purchase? But it's likely not possible. So, it seems to be a future choice of the HBP or the FHSA. Advantage going to the FHSA, because repayment is not required, as would otherwise be if using the HBP.

2. Doubling of the First-Time Home Buyers’ Tax Credit. This income tax credit applies to a qualifying “first home” purchased during the tax year. The updated credit increases from $5,000 to $10,000, which will put $1,500 back into a Buyer’s pocket. This increase is set to be available for the 2022 tax year.

3. Doubling the Home Accessibility Tax Credit. Individuals can receive 15% in tax relief on up to $20,000 in eligible renovations (up from $10,000) for a tax deduction of up to $3,000. Generally, eligible expenses are for updates that assist seniors, or those entitled to the Disability Tax Credit, to make their homes more accessible.

4. Introduction of a Multi-generational Home Renovation Tax Credit to help families create a multi-generational home. Starting in 2023, this refundable credit would allow families to claim 15% of up to $50,000, to a maximum of $7,500 for eligible renovation and construction costs incurred to construct a secondary suite.

5. Extension of the First-Time Home Buyer Incentive, which allows eligible first-time home buyers to lower their borrowing costs by sharing the cost of buying a home with the government. This Plan has been extended to March 31, 2025.

6. Support of Rent-to-Own Projects to help make it easier for renters to get on the path of home ownership while renting.

7. Modification of the Principal Residence Exemption (PRE) – New tax rules for “property flipping” aimed at individuals who sell their principal residence within 12 months of purchase. According to the budget, the measure would apply to residential properties sold on or after January 1, 2023.

Two things that were surprisingly left out of this budget were the rumoured reintroduction of 30-year amortization for Canada Mortgage and Housing Corporation (CMHC)-insured mortgages for first-time home buyers. And the reduction of the mortgage insurance fees charged by CMHC. However, if home prices and/or interest rates continue on the upward trajectory, these programs could easily be re-visited.

Questions? Want to know more about market activity in your  neighbourhood? I always invite your calls.

Sam

*Federal Budget information as above outlined is pending parliamentary approval. Details gathered at the time of release are presented for information only and may be altered or adjusted by the time the Budget is approved & then implemented.

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There's no doubt that there are many negative impacts from the homeownership gap. How did this happen and what can we do? Together, we can all fight for equal access to homeownership for everyone.


Learn More

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Might a little DIY save you some hard-earned cash?  Or would you rather buy a move-in ready home with a premium price tag? There’s a lot to consider when deciding what type of home to buy. Here are some thought-starters.
 
Make Your Mark
 
Fixer-Upper: The beauty of a fixer-upper is that you can make it yours — from the finishes to the floor material, it’s all you. That being said, renovation costs can mount when you’re presented with a myriad of choices at climbing price points. (Marble countertops, anyone?)
 
Renovated: When you walk into a fully renovated home, most of the design choices have already been made for you. There are newly installed oak shaker cabinets when you prefer a white high-gloss finish, and grey laminate floors when you like tile. But if those aren’t deal-breakers, there’s a lot to be said for the convenience and clean-slate state of a move-in-ready home.
 
Location, Location, Location
 
Fixer-Upper: Buying the worst house on the best block is the cornerstone for many development companies, and for good reason. People want to live in their preferred neighborhood and will pay more to do so. Renovating a wreck is an investment.
 
Renovated: A fully renovated home outside of the most coveted neighborhoods or those currently under development is also a smart investment option. If you’re willing to sacrifice your usual stomping grounds for a finished basement and a yard, that move could pay off.
 
High Roller
 
Fixer-Upper: While a home in need of some TLC will cost you less upfront, renovation invoices (especially unexpected ones) can add up quickly. Make sure there’s enough room in your budget to cover what needs to be done — and be prepared to DIY where possible.
 
Renovated: Sure, a fully renovated home is going to cost more than the one down the street with a leaky roof and sinking foundations, but you don’t have to organize a crew of roofers or call in the basement specialists.
Living Arrangements
 
Fixer-Upper: You’ve taken the plunge and bought the small semi-detached in need of some love (okay, lots of love) and you’re thrilled. But some decisions need to be made; namely, where are you going to live during the renovation process? Living on a construction site is not ideal, but neither is paying rent and a mortgage at the same time. Know your limits.
Renovated: Does moving right into your new home, unpacking your boxes, and sleeping on your bed that first night sound good to you? If so, the higher price tag of the renovated home may be worth the convenience, versus living with the mess of months of renovations.
 
Back Up Plan
 
Fixer-Upper: The main risk of buying a fixer-upper is running out of renovation money without the project being completed. Unexpected costs, sudden loss of income, or overspending can all lead to financial trouble, and a half-renovated house is much harder to sell if you’re looking to recoup your losses.
 
Renovated: Once you’ve purchased a fully renovated home, your upgrading costs should be minimal for many years to come. The initial price tag may dwarf that of a fixer-upper, but what you invest now will pay off in worry-free homeownership.
 
Sam Chaim⁠ - Making A Difference For You!
Re/Max Realtron⁠
416-543-7252⁠
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Prepping for home renovations? Here are 5 tips to help you live through a home renovation.⁠
1. Create a calendar with your contractors⁠
2. Keep a section of your home as a sanctuary away from all the renovations⁠
3. Put away what you don't need in a home⁠
4. Ensure you have everything you need before you start⁠
5. Use dropcloths or tarps to eliminate dust⁠
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That new beginning feeling that comes with spring makes it a great time to start a home improvement project! The information here provides four of the best projects to take on now, so your home will be ready in time for summer.
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**WATCH VIDEO**


For an overview of the current Condo market, contact me today & let me share what I know.


This may represent an amazing and opportune time for right sizing your home or for investment.


Let me show you what to expect from the market. Don’t wait for spring to bloom.


Prices will continue to rise and this may be your best chance to make your move into this growing segment while interest rates are at historic-low levels!


Send me a message and let’s make a plan today!

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If you’re preparing to move, decluttering may be on your mind. Download the FREE Home Selling Guide for tips to get you from “listed” to “sold.”


And that decluttering? While it can sound like a daunting task, decluttering can be as easy as one, two, three.

1️⃣ Decide what is still usable, but not right for you. Donate this.
2️⃣ Confirm what can’t be mended, reused or recycled. Junk this.
3️⃣ Reconsider how to best store or maintain the rest. Pack this.
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The demand remained strong for homeownership from a historic perspective while at the same time, inventory remained in short supply contributing to tighter market conditions and year-over-year price growth. 5,636 sales were reported in January 2022 which is down by 18.2% when compared to January 2021. Though sales were down, the sales that did occur resulted in the second-best average for the month. Home price increased by 33.3%.


Contact me with your questions about how this impacts your buying or selling decision!

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