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Sarnail Singh


Chinese reforms may drive Canadian housing prices even higher, a cheaper Canadian dollar suggests that a larger share of China’s capital outflows could be headed to Canadian real estate markets instead of the US!

Earlier the housing ladder meant starting in a condo and transitioning to a Semi or detached home. I'm afraid that will no longer be the trend, for most families the housing ladder will lead from one multi-family unit to another. 

Provinces sufferring due to dropping oil prices and energy sector layoffs will lead to dip in property value and hence mushroom to vacation homes.

However low mortgage rates will keep sales sizzling!!

For your Family sake, Please make a WILL if you own property!

If you own property of any kind (personal property or real estate), you need a Will to ensure that such property shall be distributed, upon death, in accordance with your wishes.  A Will is the key legal document that ensures your wishes are carried out, especially where there are children / dependents.

Without a Will and upon death, your estate may be in limbo until the government or someone (not necessarily a person you would choose) is appointed as the estate trustee to oversee your assets.  This may result in delays, further expenses and/or other complications.  Not having a Will can further threaten the well-being of your children / dependents by leaving their fate solely at the discretion of the courts.
Consider preparing a Will upon buying or selling real estate.  

The nominal extra cost, charged by your lawyer, is usually very small in comparison to the additional costs incurred upon administering an estate where there is no Will. The cost range from anywhere between $200-500!

Tips for investing in Real Estate!

If you're fed up with the "paltry returns" you get on bonds, the "insulting interest" rates paid by banks, and the "roller coaster" ride of stock market, you might consider turning to rental real estate to supplement your income. Here are Tips for investing in Real Estate!

Understand how you will take ownership of the property by consulting with your accountant and lawyer. There are some benefits in taking title in the name of a limited company, in order to protect yourself against personal liability should someone get hurt on the property and for other tax planning purposes and so on. However, on the other hand, you will also have to pay approx $1,000 in incorporation fees and have to file a separate tax return each year for your company.
Keep proper records of income and expenses for your investment property.

Do not mingle these with your personal bank account as it will become difficult to properly trace this when you have to file a tax return at the end of the year, regardless whether you own the investment in your personal name or incorporation.

If you are buying with a partner, make sure you have a proper partnership or joint venture agreement to protect both of you should things not work out as planned. In particular, provisions should be made if one of the partners wants to sell and the other doesn’t, one partner is not paying their share of expenses or what happens if one of the partners dies and so on! 

The sweet spot in the rental market is for single people: young singles, divorced middle-agers, and retired widows. Most of these people do not need, and will not pay for, a larger unit.

The one bedroom condo is the Toyota Corolla of the rental market. There’s nothing sexy about it, but for most people it offers the best value, and is the easiest property to manage.

It is never a good thing to be the last person to buy in an area, at the top of the market. Look at areas where there are new Starbucks and Home Depot stores. They have done their own research to make sure that the area is expanding. That is where you want to be.

When you try to take in all the information out there relating to a potential real estate investment, it feels sometimes as though there is too much information. How do you make an informed decision? Watch what experienced investors look for. Make sure you properly qualify all tenants in advance. Use a property manager so you don’t have annoying phone calls about repairs in the middle of the night.

Have a plan before you start looking for a location to invest in real estate. Look for areas where unemployment is low, with schools and public transit nearby. A good rule of thumb is not to invest anywhere that takes more than one hour to reach by car.

When you buy real estate, it should not be for an expectation of a quick flip for profit. As long as the property is cash-flow positive and you can carry the property for a few years, eventually the property will rise in value. Then you do not have to worry about short-term interest rate hikes or other external events that may affect the price of real estate in the short term. If you have a partner, make sure that there is an agreement in place that states what will happen if things do not go well down the road. For example, use a buy/sell clause to end a relationship without having to resort to lawyers or expensive court proceedings.

Have any property inspected by a professional home inspector. In addition, find a contractor who you can trust to give you the right advice for any minor repairs or renovations that may be required, especially for older properties, in order to add the most value to your investment.

It takes a lot of courage to make that first investment in real estate. It is always easier to find a reason not to. Remember that with real estate, you are borrowing about 80 per cent from a lender and your return will likely be much more than any investment in the stock market over time, primarily because you are leveraging the lender’s money. Have comfort that most people who do decide to invest in real estate, with the right research, are usually very happy later.
Hire an experienced property manager to assist you in finding suitable tenants and dealing with any ongoing maintenance, repairs or other complaints by tenants. You do not wish to be woken up in the middle of the night to handle emergency repairs. Budget an additional $100 per month for this service.

Be careful not to buy and sell properties quickly. The CRA may view this activity as business income. This means that you will have to pay tax on any profit you make on your investment. It is preferable to buy properties for the long term, rent them out and use your positive cash flow to reduce the amount of your mortgage owing, building equity in your property. If you then sell years later for a profit, it will likely be classified as a capital gain and thus one half of your gain will be tax free.

If you already own your own home, you know that at some point you'll inevitably face an unexpected expense—the dishwasher breaks, the roof leaks, or the condo association hits you with an assessment. You need to keep a cash reserve to take care of any surprises, including the possibility that your unit might be unoccupied for a (hopefully short) period of time. You also need to build these irregular expenses into your financial equation to help you decide, in the final analysis, if the whole project is worth it.

Don’t be afraid to walk away if the deal does not work for you, no matter how much time you may have invested in the property.

That's why they always say, "It's not who start the game, but who finishes it!"

Ontario home buyers are already charged a provincial land transfer tax, so by adding a municipal tax, they would essentially be doubling the tax burden on Ontario families, “If the Ontario Liberals follow through with this plan, home buyers will be forced to pay $10,000 in total land transfer taxes on the average priced home, starting as early as next year.”

Ontarians let your MPPs know home buyers are stretched enough and already pay enough tax! 

As Justin Trudeau prepares to settle in his new home, we continue to debate the housing market, interest rates and access to the market, plans to reduce Tax Burden on middle class, $10B investment in infrastructure projects, review of Home Buyers plan to include not only 1st time home buyers but also people going through divorce or death of spouse to access RRSP for down payments, betting on interest rates to stay where they are and much more.

Well, there is famous saying, ``It`s not who start the game but who finishes it``!

Beware, if Radon limits are high in your Home!!!

Radon is a radioactive gas that is odourless, colourless and tasteless. It is produced by the breakdown of uranium found in soil, rocks and water and it poses risk to human health.

Radon is found throughout Canada, when inhaled, it remains in lung tissues and began to decay and over a period of time leading to lung cancer. It's second leading cause of lung cancer among Canadians. In some provinces, 20% of homes had high radon levels.

Question is how Radon enters home? Via cracks in the foundation wall and/or floor slabs, unfinished floors, floor drains, window casements, cavities inside wall, water, support post etc; if radon concentration is over 200(Bq/m3), it's a concern!

I would recommend test Radon in your home. Do it yourself kits (cost upto $75) are available, visit or call contractor or email me and I can share few contacts. For those who wait till last drop, the mitigation cost could be anywhere between $2500 - $4500 plus deteriorate health!

It is known that approx 8.2% household in Ontario has high level of Radon, Manitoba & NB is worse approx 23.7%, if you are in Nunavut, than enjoy radon free air :)

For more info visit

The GTA had a record-breaking October for home sales.

The TREB says that there were 8,804 homes sold through its MLS in the month. The average price was up 7.3 per cent to $630,876 with prices driven by low rise properties.

On the flip side we can see downturn if Liberal's introduce a municipal land transfer tax in addition to the current provincial one. This will have major impact on sales!

Do you support or not?

70% of detached homes in Vancouver’s west side were purchased by buyers from China, according to study. 5% of all homes were bought by corporations and 36% of those homes valued above $3.05 million were bought by individuals listed as “housewives".

Liberals need a plan to have data available on foreign investment and guidelines to steer to right direction, before the canadians reach to a position where they live in rented home of non resident canadian!

Have you wondered what is Ontario's 2015 Rent increase guideline?  

The Ontario's annual rent increase guideline is based on the Consumer Price Index, the rate of allowable rent increase for 2015 is 1.6%, point to note the increase guideline cannot exceed 2.5% even if the CPI calculation is higher!!
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