Toronto Neighborhoods
This downtown neighborhood is known for its historic architecture and vibrant arts scene.
What is Kensington Market?
This term refers to the average price of all homes sold in a given area within a specific timeframe.
What is the average selling price?
What is the current minimum down payment percentage required for purchasing a home in Canada?
What is 5% for homes under $500,000 and 10% for homes between $500,000 and $999,999?
What are the advantages of investing in a condo versus a detached house in Toronto?
What is lower maintenance and potentially more amenities?
What is the difference between a condo and a co-op?
In a condo, residents own their individual units, while in a co-op, they own shares in a corporation that owns the building.
In which neighborhood would you find the iconic CN Tower?
What is the Entertainment District?
What is the main factor driving the recent surge in Toronto's housing prices?
What is low inventory and high demand?
In Toronto, what tax is applied to all residential properties that are not occupied by their owners?
What is the Empty Homes Tax (Vacancy Tax)?
What is a "cap rate" and how is it used in real estate investment analysis?
What is the Capitalization Rate, used to estimate the potential return on investment?
Define "comps" in the context of real estate valuation.
Comparable sales used to determine the market value of a property.
This west-end neighborhood is famous for its diverse food scene and eclectic shops.
What is Roncesvalles?
In Toronto's real estate market, what does the abbreviation "DOM" stand for?
What is "Days on Market"?
What is the purpose of the Ontario Land Transfer Tax?
What is to transfer ownership of a property from one owner to another, ensuring payment of taxes and fees?
How does Toronto's rental market compare to other major cities like Vancouver and Montreal?
Toronto's rental market is highly competitive with low vacancy rates and high rental prices.
What does the term "closing costs" encompass in a real estate transaction?
Expenses such as legal fees, land transfer taxes, and appraisal costs incurred during a property sale.
What is the name of the neighborhood that houses the prestigious University of Toronto?
What is The Annex?
What percentage of Toronto's population rents their homes rather than owning?
What is approximately 50%?
What is the maximum amortization period for a mortgage in Canada?
What is 25 years?
What are some key factors to consider when evaluating the potential rental income of a property in Toronto?
What are location, market trends, and property condition?
Explain the concept of "seller's market" in relation to Toronto's real estate market.
A situation where demand for homes exceeds supply, giving sellers an advantage in negotiations.
Known for its lush parks and high-end shopping, this neighborhood is often considered one of Toronto's most affluent areas.
What is Forest Hill?
What impact has the influx of tech companies and startups had on Toronto's real estate market?
How does it drive up demand and prices for residential properties, especially in areas close to tech hubs?
How do Toronto's zoning bylaws affect property development in the city?
They dictate what type of buildings can be built in different areas, influencing property values and development.
How does the proximity to public transit affect property values in Toronto?
Properties near public transit tend to have higher values due to increased accessibility and convenience.
What is the significance of the term "FSBO" in real estate listings?
"For Sale By Owner" - properties listed by owners without the representation of a real estate agent.