Welcome to Ram's real estate blog. Here you will find postings and musings by Ram on the market, condos, houses and government policy. Hope you find it informative!
The First Time Home Buyer's Plan is a program that allows a first time buyer in Toronto to withdraw up to $25K in a calendar year from their RRSP on a tax free basis to buy or construct a home. A married couple can withdraw up to $50K. These amounts withdrawn must be repaid within a certain time frame. Despite this, the program can be beneficial for home buyers who need equity for a downpayment.
125 Omni Drive is on my list of recommended condominiums in Scarborough. It offers very good value for money & is centrally located in an area close to TTC subway, highway 401 & superb shops & restaurants. If you see a Scarborough MLS listing of one of these units I recommend visiting the building. You can read more about this excellent building here.
There are several older condos in the Scarborough neighbourhood. There are benefits to buying a unit in one of these buildings - benefits which some buyers overlook. Space is one advantage. Lower per sq ft maintenance fees are another. A review of the pros and cons is included in this post.