First time homebuyers refund eligibility

ATTENTION FIRST-TIME BUYERS...

First time homebuyers may be eligible for a refund of Provincial land transfer tax, up to a maximum of $2,000.00. To qualify, you (or your spouse) must: 

1) be at least 18 years of age; 
2) occupy the home as your principal residence within 9 months of the date of transfer; and 3) never have owned a home, or an interest in a home, anywhere in the world. If you are a “spouse”, and have owned a home, your partner may claim a refund up to the maximum if they meet the above requirements, as long as you did not own a home while you were each other’s “spouse”. “Spouse” includes 2 persons married to each other or 2 persons who have cohabited continuously for a period of more than 3 years or in a relationship of some permanence, if they are natural or adoptive parents of a child. 

The refund is usually claimed at the time of registration. If not, a refund claim may be made directly to the Ministry of Finance within 18 months after the date of transfer. 

...It’s The Law! 

Shaping Up for Selling

Courtesy The Hamilton Spectator 

First impressions are important and the same holds true when you are showcasing your home for a potential sale. While larger home improvement projects are often necessary to catch the eye of someone in the market for a new home, they require a great deal of time and money. Sometimes simple cleaning and organization is all that is needed for your home to become more appealing to potential buyers.

Home staging expert and TLC host Lisa Lynch says giving the perception of clean home is of utmost importance for people looking to sell or rent their homes.

"Presenting a sparkling clean property gives the impression that it was well maintained," says Lynch.

"This gives potential buyers and renters a feeling of security. Often they will pay a premium for a place that has been well-maintained and has a clean appearance."

LYNCH OFFERS THESE TIPS TO IMPRESS YOUR GUESTS AND CONVINCE POTENTIAL BUYERS THAT YOU TOOK OUTSTANDING CARE OF YOUR HOME:

Simplify

Begin by de-cluttering your home. By removing personal items that might distract prospective buyers, you’ll help them focus on how they think the home might look when they move in. You don't want buyers to focus on possessions that you’ll be taking with you when you move. 

Neutralize

When showing your home to others, it's best to set your personal tastes aside by decorating in a way that will appeal to a broad range of people. Think about replacing strong patterns with solid colours on items like bedding, carpets and. drapes. It might also be a good call to store that dramatic piece of art somewhere out of sight. You can show it off again when you move into your new house.

A Photogenic Home

Many potential buyers will make decisions on which homes they would like to look at by looking at photos posted online. Do whatever you can to make your home sparkle in the images you and your real estate agent select for your listing. Focus on glass and metal surfaces that will add shine to your photos.

Areas That Must Sparkle

While it’s important to keep the entire home spotless, there are two rooms in particular that require special attention: the kitchen and the bathroom. In a recent survey, Mr. Clean asked consumers which room they would clean first if moving into a new home. Of more than 

1, 000 participants an impressive 41 per cent responded the kitchen and 38 per cent said the bathroom. When selling your home, it is important to make the extra effort in these two rooms; you’ll never know if it will make or break a deal.

Scent

Whether they know it or not, people entering home will notice more than just appearances. Attractive scents can create good feelings. Candles, diffusers, potpourri and cookies all offer inviting and fan aromas. Use a cleaner with a pleasant scent to keep home smelling fresh.

Details Matter

Eliminate any small imperfections that might cause uneasiness with potential buyers by replacing broken light bulbs, fixing loose doorknobs or getting your closet door moving smoothly on it tracks. Even something as minor as a little mess in the microwave could turn off a prospective renter or buyer, so make sure every place you can think of is squeaky clean. Since first impressions are  so important, having your home properly cleaned and staged will help you make a sale or rental more quickly and net the price you deserve.

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4 Myths about Common-Law Relationships

Common-law relationships typically refer to couples that live together in an arrangement akin to marriage, but without an actual ceremony or legal documents.

However, the notion of living “common law” is a complicated one, and its meaning varies greatly across Canada.

Here’s a look at some of the biggest misconceptions about common-law partnerships.

1. Common-law unions are the same across the country.

Legally, common-law relationships fall under provincial jurisdiction, and so what constitutes such a relationship and how it is viewed legally differs greatly from province to province.

In order for a couple to have common-law standing in Ontario and Manitoba, they must be living together in a conjugal relationship for three years or more, or one year with a child. 

Ontario Justice Harvey Brownstone said there is no registration in his home province. In fact, as he points out, in Ontario, “common law” is more of a vernacular term.

“There is no such thing as ‘common law’ in Ontario law — that term doesn’t exist,” he said.

Quebec is the only province that does not recognize common-law relationships. 

2. In the event of a break-up, assets are divvied up.

Living together in a relationship similar to marriage may make you “common law” in most provinces, but it does nothing with regards to the division of property acquired during the relationship unless a cohabitation agreement or some other form of legal agreement was made between the couple.

In Ontario, “There’s no such thing as matrimonial property in these relationships,” said Justice Brownstone. “We use the law of constructed trust to protect people’s property rights, so if you’ve been living common law and you’ve been contributing to a home that the other party owns – either because you paid for renovations or because you were the one maintaining it – you can make a claim for property.”

Brownstone added that this is not in any way based on the same kind of principles as being married. Rather, he said, “It’s based on the law of resulting trust. We use trust law to protect common law property rights.”

3. Unless you were married, you are not entitled to spousal support in the event of a break-up.

It’s unlikely that a common-law couple that decides to split will deal with spousal support, but it is possible, depending upon other factors.

Much like in marriage, spousal support is not automatic, but is given only when one party is seen as entitled to it.

According to Justice Brownstone, spousal support for Ontario common-law couples is possible if there were “economic consequences” to the break-up. If one person in the relationship supported the other person regularly – or, for example, one person had to give up their career in order to care for a child — then they could be entitled to spousal support.

“If you live together three years and don’t have kids, you are treated as a spouse for support purposes,” said Brownstone, but stressed that “spousal support is not that common.”

4. Children do not change or affect the common-law standing.

The presence of children can significantly affect the way a common-law relationship is viewed in the eyes of the law. When a cohabiting couple has a child, they are often viewed as common law years before a childless couple would be.

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Spring into Action - Protect your Home

Courtesy The Hamilton Spectator

The flowers are blooming, the birds are singing and our homes have a bad case of the winter blues.

But before you tackle those dirty chores, remember that spring cleaning is a tradition that serves a very useful purpose – to rid the home and exterior property of the build up that has occurred during the winter months.

“The winter season brings a lot more headaches than cold weather and snow” says Wayne Ross, insurance expert at Aviva Canada. “Many of the effects of winter are noticed in the spring and it’s important to take care of those problems before they lead to serious property damage.”

ROSS OFFERS FOUR SIMPLE TIPS TO HELP MAKE EXTERIOR SPRING CLEANING A BREEZE THISYEAR:

Inspect your property

Frozen ground can cause shifts in your landscaping and patios which, if left unattended, can result in costly repairs and injuries. Be sure to inspect your walkways and driveways for cracks.

Remove debris from your gutters

Ensure that leaves and dirt are removed to prevent water blockage.

Repair damage to your roof

Replace missing or damaged shingles to prevent leaking roofs.

Examine fences around your property and pool

Ensure fences are still sturdy and lock properly to prevent injury and intruders from entering your yard.

By following these helpful tips, you can prevent injury and ensure that your propeily is in shape and ready for the warm weather. For more information visit www.avivacanada.com

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Hamilton property values up 75.6% in 10 yrs!

YourHamiltonBiz.com 

Joseph Englehardt

Property values in Hamilton have jumped 75.6 per cent in 10 years, one of Canada’s biggest real estate companies says.

 A RE/MAX Canada report released Thursday showed that real estate values have increased across the country. Regina topped the list at 199 per cent. Saint John, N.B. was last with a 62 per cent increase.

 Mid- to higher-end home sales are driving prices up in Hamilton, said Conrad Zurini .

 “It’s really the middle to upper end product being sold, either new or resale, that’s bringing the average up,” said the broker of record for RE/MAX Escarpment Realty Inc., a real estate agency that covers Hamilton and the surrounding area.

 A mid- to upper-end home in Hamilton sells for between $275,000 and $400,000, he said.

 “It would get you a brand new, luxurious townhouse or smaller, more narrow lot in newer construction,” he said. “Or a nice-sized, detached, 2,500-foot home in resale.”

 The best value can still be found in the east end of Hamilton, he said.

 “You get a lot more value,” he said. “You can probably get more land and a bigger home.”

 A lot of buyers are coming from the GTA, looking for better bang for their buck than they can get closer to Toronto, he said.

 “They’re looking for better value than they get in a Mississauga or Toronto, and they’re finding it here in Hamilton,” he said.

 “The divide between Hamilton and Toronto is several hundred thousand in savings for the same type of home in the same type of neighbourhood,” he said.

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How I reduced my property taxes

Sean Cooper

Homeowners who feel the assessed value of their property assessment is too high should appeal. I did and have saved myself $15 a month in a process that took some time, but wasn’t overly complicated.

In August, I bought my first house, a beautifully renovated three-bedroom bungalow in Scarborough which cost $425,000. I loved everything about it, except the property taxes which came in at more than $3,000 a year. In October when I received my property assessment notice I discovered the assessment and my taxes were going up. The assessed value was $65,000 higher than my purchase price.

My father’s two-storey century house in the Beach area had only been assessed at $100,000 more. It didn’t seem fair, so I decided to appeal.

First I visited AboutMyProperty.ca and the property taxes section of Toronto.ca I spoke with family and friends and contacted my real estate agent and mortgage broker to get their opinion. They agreed that the assessment was high.

I phoned the Municipal Property Assessment Corp. (MPAC) and requested a copy of the Comparable Property Report. The report included six similar properties in my neighbourhood handpicked by MPAC. Although the assessed values were similar, most were in more desirable locations. My house is located near an arterial road, while the comparable properties are steps away from the pricey Scarborough Bluffs. I made note of this, as location is one of the five major factors that account for 80 per cent of your property’s value, according to MPAC.

I was convinced my neighbourhood was overvalued, so I requested a copy of the home appraisal from my lender. My appraisal included everything I needed: comparable properties, photos and the estimated value. I also requested a report of similar properties that had recently sold in my neighbourhood from my real estate agent.

Once I was ready to file my appeal, I downloaded a copy of the Request for Reconsideration form from AboutMyProperty.ca. The form was pretty straightforward, although I made sure to include as many reasons as possible as to why I believed my assessment should be lower.

For example, my property is near apartment buildings, while MPAC’s comparable properties are surrounded by properties that sell for over $1 million. I submitted the Request for Reconsideration form online in November, well ahead of the March 31st deadline and included a copy of my home appraisal and photos of my neighbourhood.

In January I received a notice in the mail. Much to my delight my assessment value had been lowered by a whopping $74,000. According to MPAC, the adjustment was based on the similar properties I included.

Filing an appeal was time-consuming, but well worth it. I’ll save at least $700 in property taxes over the next four years, money I can put towards my mortgage.

Sean Cooper was featured in Monday Makeover in August, 2012.

How to appeal your property assessment

1.Compare your assessed value with similar properties in your neighbourhood to determine if it’s overvalued.

2.Visit AboutMyProperty.ca and Toronto.ca to learn more about your property assessment.

3.Request the Comparable Properties Report from MPAC.

4.Request your home appraisal from your lender and request a report of similar properties that have recently sold from your real estate agent.

5.When filing your Request for Reconsideration, include compelling reasons and supporting documentation, such as recent home appraisals and photos.

Decluttering - Don't let fear hold you back!

Alison Hodgson
HOUZZ

So you know you want to declutter. Or perhaps you know you need to, but the thought of actually doing it makes you want to crawl back into bed and stay there for, like, ever. So many decisions! They make your head hurt.

Don't be discouraged if right now the task seems overwhelming. To get going, start with what you know you want to get rid of. If you aren't sure about something, that's OK; save it for later and keep moving. Throw away everything that's trash and haul out anything you know you want to give away. Tackling what you already know you're willing to part with will create momentum. Once you have taken care of everything you know needs to go, focus on setting aside what you know, beyond a shadow of a doubt, you want to hold on to.

Add to ideabook by Emily A. Clark by Emily A. Clark

During my housewide decluttering, everything was in play. Even my children's art and writing was sorted. If only gluing was involved, I was able to part with it, but if it was personal writing, especially if it said, "Mama, I love you," it automatically went into the "keep" box. Family portraits the children drew were also dear to me. I loved seeing each child's vision of who we were through the years. In the portraits our bodies might be only big circles, or they might be sophisticated enough to have arms and legs with hands and feet. In some we floated in the air, and in others we were lined up neatly: Paul, me, Christopher and Lydia and then, when she came, Eden. One thing that was consistent in every single one is that we all wore enormous smiles. In those portraits nothing got us down. My friend Jane, who was helping me declutter, said, "Honey, you can't keep every card your kids made you." I told her I could — everything fit into two medium Rubbermaid tubs — and I did ... for two more months, until I lost it all in a house fire. The day of the fire, when Jane called, before she could say a word, I said, "Well, I finally got rid of those two containers of papers you were bitching about!" In the early days after the fire, I was just so happy to be alive and to have my whole family safe. What we had lost was merely stuff, and I could live with that. Truth be told, I felt a strange relief. Of course I was in shock, and I hadn't yet taken an accounting of what had been lost, but even so, after a lifetime of tension with my belongings, I mostly felt free. I had spent the better part of a year carefully sorting through my possessions before the fire. I had made thousands of decisions on what could go and what I had to keep. It was only after I lost everything that I realized how much of my resistance in parting with my possessions came from a fear of making a mistake. Once it was all gone, I was no longer afraid. A Wondrous Thought Has this ever happened to you? You find something cool. You're not exactly sure what you're going to do with it, but you love it; you know you'll think of something. Maybe it needs a bit of work but, well, you'll get to it. Except you don't. For years it sits in a corner collecting dust; you may even move it to another house ... or two, but you're so going to do something with itsomeday. And then finally you face it: You won't. So you donate or give it away and practically the next day you see online or in a magazine the very thing, but spruced up or used creatively in a way that would have been perfect if only you hadn't gotten rid of it! If you're anything like me, you try to blow it off: "Oh, well," but you don't really. It comes to mind from time to time and there's that, "Ugh! I should have kept that." Just a few weeks before the fire, I found an antique rug at a sale. I debated about buying it but decided to let it go. Within a couple days I knew I had made a mistake: It was beautiful, such a good deal and, now that I was thinking about it, I could have used it in three different places. What had I been thinking? "Oh well," I said, and forgot about it, but then a few months after the fire, I remembered. "Ugh!" Why didn't I buy that?" I thought.

Add to ideabook

by simple thoughts

by simple thoughts

The drums started beating, and then the wondrous thought came: "Even if I had, it would have been lost in the fire." And just like that, the regret rolled away. The fire became a line of demarcation; any mistakes I had made in my home were forgiven because all of it was gone. Do you know how liberating that is?

The truth is, as you declutter, you will probably make mistakes. You will almost certainly get rid of things you'll later regret, but I'm here to tell you it's going to be all right. Don't let the fear of potential regrets get in the way of a new lightness and freedom.

Add to ideabook

by Aesthetic Outburst

by Aesthetic Outburst

Weeks after the fire, we were staying at a friend's cottage. One night I snuggled in bed between my girls, tucking them in, and it hit me: Not only did I lose everything my kids ever made me, but none of it could be replaced.

My children are growing up. Christopher and Lydia don't draw me pictures anymore and rarely write cards, and Eden isn't as prolific as she was. I lay in that big bed with both the girls and sobbed until my head ached. I couldn't stop, and we all wept together. I was still happy to be alive. I still knew that the pictures were part of the stuff that didn't matter as much as the people they represented. I was still unutterably grateful that our family was spared, but I was sad to lose those precious cards and drawings, still. One didn't negate the other.

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15 Popular Kitchen Countertop Materials

Vanessa Brunner 

HOUZZ

With so many choices at homeowners' fingertips, picking out a kitchen counter is no easy task. Since this surface area ends up influencing many kitchen palettes, it's important to choose something that looks good to you, will hold up under the kitchen activity of your household and has a price tag that suits your budget.

We've gathered links to our guides to 15 popular kitchen countertop materials handily in one place to help you find the choice that suits you best.

by Kenny Grono by Kenny Grono

Soapstone Kitchen Counters Often used in laboratories for its resistance to stains, chemicals and bacteria, soapstone is a durable and natural choice for a kitchen. At $80 to $100 per square foot installed, it might be on the more expensive side, but it can be a lifetime investment.

by Echelon Custom Homes by Echelon Custom Homes

Granite Kitchen Counters There are plenty of reasons granite is so popular — this natural stone has plenty of character, with unique grains, colors and customizable finishes. When properly sealed, it's one of the most durable options out there. While it can cost as low as $50 per square foot installed, prices can go up quickly with more exotic slabs and difficult installations.

by Oak Hill Iron by Oak Hill Iron

Copper Kitchen Counters It certainly isn't common, but a copper countertop is surprisingly easy to clean and maintain. However, it's not for perfectionists — since it's a "living" surface, it reacts to different substances, creating a blend of matte reds, browns and greens. But for those who love the look, the minimum $100-per-square-foot cost is worth it.

Engineered Quartz Kitchen Counters
Perfect for the customized home, engineered quartz comes in just about every shade imaginable. This engineered product combines ground quartz, resin and pigments for a tough, nonporous material. Great ecofriendly attributes makes it a safe bet for green homes, too. Get ready to pay up, though, since costs range from $95 to $105 per square foot installed.

by David Howell Design by David Howell Design

Tile Kitchen Counters One of the more affordable counter choices (starting at $30 per square foot installed), ceramic or stone tile is incredibly durable, and one of the few DIY countertop options. Maintenance can be difficult with all that grout, but choosing a durable and dark grout can make things easier.

by Gardner Mohr Architects LLC

by Gardner Mohr Architects LLC

Ecofriendly Kitchen Counters
A little research is really all that's required today to make your new kitchen ecofriendly. The wide variety of material styles and costs — from salvaged wood to Bio-Glass to bamboo (shown in this photo) — means you can find just the right green countertop material for your home.

by Kemp Hall Studio by Kemp Hall Studio

Zinc Kitchen Counters You don't see zinc countertops in many modern kitchens, but this metal has a warmth that has made it popular for centuries. Zinc's tone darkens with time, adding patina. Its antimicrobial properties make it a smart choice for a cooking space. This beautiful material typically costs $100 and up per square foot, installed.

Recycled Paper-Based Kitchen Counters Recycled paper sounds like the worst possible material for a kitchen countertop, but this ecofriendly choice has surprising durability. When blended with resins and pigments, it has the look and feel of soapstone — but at $40 to $80 per square foot installed, it's a fraction of the cost.

by BAAN design by BAAN design

Plastic Laminate Kitchen Counters Although it's sometimes scoffed at by stone lovers, plastic laminate still has a serious fan base. The wide range of customizable edges and finishes means it can work in any design. At $8 to $20 per square foot installed, its affordable price makes it a winner for many. However, it's not the most durable of countertops, so it may not be best for heavy-duty cooks.

Recycled Glass and Cement Kitchen Counters Although it's expensive ($100 to $160 per square foot installed), this unique combination of glass and cement is a surefire way to add character to your kitchen. Ecofriendly, durable and customizable, this countertop material is a top choice for a "forever home."

by Melissa Miranda Interior Design by Melissa Miranda Interior Design

Marble Kitchen Counters Marble has an unrivaled, classic look that always seems to be in style. For lovers of white kitchens in particular, marble offers more variety than almost any other material. Marble is known more for the patina it develops with use than for its durability. It's a softer stone than granite, and can scratch and stain easily; the cost typically ranges from $70 to $100 per square foot installed.

by Divine Kitchens LLC by Divine Kitchens LLC

Concrete Kitchen Counters Pigments, stains and dyes can create concrete counters with color and visual texture. With the right sealer, a concrete counter can be well worth its cost — at least $100 to $150 per square foot installed.

by Studio William Hefner

by Studio William Hefner

Stainless Steel Kitchen Counters
Professional chefs love stainless steel because it's nonstaining, heat resistant and easy to clean. While it certainly makes fingerprints and scratches stand out, it's a great choice for hardworking kitchens that don't need a perfect look. A price tag of $80 to $90 per square foot installed means it's more affordable than most stone counters, too.

Solid-Surface Kitchen Counters Is it stone, wood or plastic? This miracle material has the ability to emulate just about any look without the same damage risk or maintenance. Prices range from $50 to $100 per square foot, depending on the manufacturer.

Wood Kitchen Counters
For some, wood and countertops just don't seem to mix. But a high-quality wood with the right kind of sealer can make for a beautiful, warm and long-lasting countertop. The price varies substantially depending on the type of wood you choose, but butcher block counters tend to range from $30 to $85 per square foot, for materials only. 

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HOW TO MAKE INFORMED HOME-BUYING DECISIONS

Ann Hannah - TREB President

Perhaps you are feeling insecure about your knowledge of the financial implications of homeownership.

Homes are a major asset and for most Canadians it represents the single largest financial investment of their lives. Most buyers must finance their purchase using some form of credit. While homeownership can be a significant source of equity over the long term, Canadians need to remain vigilant about their finances at this critical decision point in their lives.

In a recent survey commissioned by the Canadian Real Estate Association (CREA), 70 per cent of young Canadians between 18 and 29 indicated a “major need” for more information about the financial implications of buying a home. This figure is particularly meaningful as many in this age group are on the cusp of buying a home for the first time and need to make informed financial decisions about their future.

Buying a home is always a big decision. Whether it is your first time, or your third or fourth home, it is a big investment that warrants careful financial planning and consideration. And many homeowners with locked-in rates may not feel the impact of market fluctuations until their mortgage comes due for renewal.

Members of organized real estate have an important role to play. We are usually a homebuyers’ first line of contact, and as such, we need to use our knowledge and expertise of the home-buying process to empower Canadians to make informed financial decisions.

Realtors and their national association, CREA, have collaborated with the Financial Consumer Agency of Canada (FCAC), to develop and provide a resource for Canadians to help them more easily understand and navigate the home-buying process.

The Homebuyers’ Road Map (available free of charge at crea.ca/resources) outlines the financial aspects of the home-buying process, as well as the importance of negotiating with lenders and utilizing government programs.

The real estate industry’s goal is to empower Canadians with knowledge, skills and confidence to make responsible financial decisions about homeownership, one of the most significant financial and lifestyle decisions most will ever make.



Should you have any questions about your first-time home buying experience,  please contact us at ReMax Team BlueSky (905) 639-7676

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Who Gets the Family Home When a Marriage Breaks Down?

Mark Weisleder - real estate lawyer

Without a marriage contract, most assets accumulated by a couple will be divided 50-50 on separation. But in order to minimize the impact of divorce on a family, in many cases one spouse stays in the house with the children while the other spouse leaves.

Here are some questions about this issue from readers:

How is the matrimonial home valued vs. a family business?

This is a tricky question. Although you can appraise a home and a business and put values on them, the tax treatment for each is very different. For example, let’s say you have a home and business and each are appraised at $500,000. They were each purchased for $100,000. When you sell a business, you will have to pay tax on any gain that you made. Yet when you sell your home, which is your principal residence, no tax will be payable. Therefore, in most cases, a home that is appraised the same as a business is actually worth more than the business. This must be taken into account when negotiating any division of property.

Can one spouse be forced to move out?

Each married spouse has the equal right to live in the family home. Let’s say the house is registered in the wife’s name alone. They decide to separate. The wife cannot demand that her husband leave. If this cannot be worked out amicably, then the couple will likely have to go to court to get an order as to whether one spouse leaves, or whether the home is sold and the money divided.

Does it matter who stays in the house?

In many cases, upon separation, one spouse will move out of the family home. It will still require the permission of both spouses to either mortgage or sell the home, even if they are not on title. However, while the spouse who lives in the home will not be paying any rent, the spouse who moves out will have to pay rent in another location, and will likely still be responsible for 50 per cent of the mortgage and other expenses in the matrimonial home.

Can the spouse who stays put a mortgage on the home and keep the money?

The answer is no. Even if you leave the home, and even if the property is registered solely in the spouse’s name who stays, you cannot mortgage a family home without the permission of both married spouses.

Do common law spouses have the same rights?

The answer is no. Common law spouses have no entitlement to a share in a family home, unless their name is on title, or if they can prove that they have contributed financially to the purchase of the home. If you are buying a home with your common law partner, you must get your name on title to protect yourself.

Family lawyer Elliot Birnboim of Toronto also tells me that when one spouse gets possession of the family home, this will also affect child and spousal support calculations.

The lesson here is to obtain expert family law advice before you make any decision about what to do with your family home if you decide to separate. The goal should be to balance what will be best for all members of the family, while also ensuring that any property is divided fairly.

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