Pankaj  Patel

Pankaj Patel

Broker

HomeLife/Miracle Realty Ltd., Brokerage *

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Pankaj Patel's blog

After June 5th first rate cut, should Homebuyers Wait or Buy Now?

In a notable development, the Bank of Canada has announced its first interest rate reduction in four years. Effective today, the policy rate has been lowered by 25 basis points to 4.75%. This prompts a crucial consideration for potential homebuyers in Ontario: is it better to wait for additional cuts or to purchase now?

Implications of the Rate Cut for Homebuyers:
- Enhanced Affordability: The cut in interest rates suggests that mortgage borrowing costs are set to decline, thereby making home loans more affordable, particularly for first-time buyers or those seeking to upgrade.
- Lower...

Best time to buy preconstruction homes and condos in Ontario

Buying preconstruction homes and condos can be a great investment, especially in Ontario. Here are some things to consider:

 

Early Stages of Development: Developers often offer properties at more attractive prices during the early stages of development1. For instance, a pre-construction condo in Toronto could cost around $650,000, compared to a resale condo of the same size and amenities costing around $715,000.

 

Market Trends: The average selling price of pre-construction properties in Ontario has been remarkably lower than that of the previous year’s selling price2. This suggests that...

4 questions to ask your contractor about smart home technology

4 questions to ask your contractor about smart home technology

Is your home ready for you to age in place?

April 17, 2023

Pankaj Patel, Blogger, Full-time Real Estate Broker

Durham Region Real Estate Market Update April 2021

Durham REALTORS® Report April Housing Statistics

May 6, 2021 @ 8:23 AM

Source: DRAR

Durham Region Association of REALTORS® (DRAR) President Michael Watson reported 1,771 residential transactions in April. This represents a record-breaking year-over-year increase when compared to April 2020. Last year at this time was the first full month of the pandemic and the impact on the housing market should be taken into consideration.

Easy DIYs that instantly transform any space: 3 projects you can do in a weekend

(NC) The return of warmer weather doesn't just mean the start of summer, it's also the kickoff to home improvement season. Every home deserves a light, airy refresh to embrace a brighter season ahead. Fortunately, transforming your space doesn't mean you need a big budget or a lot of time.

Elevate your home in just one weekend with these easy DIY projects inspired by Sharon Grech, Benjamin Moore colour and design expert.

Affordable Home Buying Opportunity in Markham, Don't Miss it, Call now: 647-760-7061

Incredible opportunity to buy your dream home in Markham

Five signs your home insulation is not working

Five signs your home insulation is not working

(NC) Some insulations can lose performance over time, sustain damage, or simply no longer meet updated building codes. It's an issue that can be costly because if your home's insulation isn't doing its job, you could be wasting money and resources.

Five signs your home insulation is not working

Home insulation(NC) Some insulations can lose performance over time, sustain damage or simply no longer meet updated building codes.

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