Ontario Realtor

08/11/2024

This is for Fisrt time Home 🏠 Buyers:

To buy a property in GTA priced at $950,000, you need to consider several costs, including the down payment, closing costs, and other associated expenses. Here's a breakdown:

1. **Down Payment:**
- The minimum down payment is tiered based on the purchase price of the home:
- For the first $500,000, you need 5%.
- For any amount over $500,000 up to $1,000,000, you need 10%.
- For a $950,000 property:
- First $500,000: 5% = $25,000
- Remaining $450,000: 10% = $45,000
- Total minimum down payment = $25,000 + $45,000 = $70,000

2. **Mortgage Loan Insurance:**
- If your down payment is less than 20% of the purchase price, you will need to pay for mortgage loan insurance, which protects the lender. The cost depends on the size of your down payment.

3. **Closing Costs:**
- These typically range from 1.5% to 4% of the purchase price. Closing costs can include legal fees, land transfer taxes, and other expenses.
- Estimated closing costs at 3%: $950,000 x 3% = $28,500

4. **Total Initial Costs:**
- Minimum Down Payment: $70,000
- Closing Costs: $28,500
- Total Minimum Money Required: $70,000 + $28,500 = $98,500

You should also consider additional expenses such as moving costs, home inspection fees, and any immediate repairs or renovations. It’s a good idea to have some extra savings for these and other unexpected expenses.

Realtor Hussein Al Sahmi
Your Real Estate Sales Professional
437 333 4369

06/12/2024

Find some serenity when you find your RE/MAX Agent. Canada’s most trusted agents have the advice you need when buying or selling.

Realtor Hussein Al Sahmi
Re/Max West Realty Inc., Brokerage
437 333 4369

06/06/2024

DEAR NEW HOUSE!
We will be home soon!

NOW LISTED!!!

MLS® # E8248394

https://realtor.ca/real-estate/26770962/11-yacht-drive-clarington-bowmanville?utm_source=consumerapp&utm_medium=referral&utm_campaign=socialsharelisting

11 Yacht Dr, Bowmanville

Offered at $3,799

✦ 5 Bedrooms
✦ 4 Bathrooms
✦ Lake View
✦ a Stream Winds through the Property
✦ Stunning West View of Sunsets
✦ Three Balconies all with lake view
✦ 400 Sq Ft Rooftop Terrace

Contact us Today!

Hussein Al Sahmi
Remax West Realty
437 333 4369

11 YACHT DRIVE, Clarington, Ontario L1C3K3

03/08/2024

Thinking Of Selling Your Home? 🏠
Find Out What Your House Is Worth💲

Realtor Hussein Al Sahmi

Re/Max West Realty Inc., Brokerage

437 333 4369

09/24/2022

I am having an Open House Today Saturday and Tomorrow Sunday from 2 pm until 4 pm.

Feel Free To Join .. We have a Beautiful Detached House over 2800 sq ft of living space .. It has a specious and bright 4 Bedrooms and 4 Washrooms

This House features tons of Upgrades and has been renovated Top-To-Button

Location:
📍 90 Peelton Heights Rd

Listed Price: $1,494,900

📲 DM me for a private showing & more information

➡️ Hussein Al Sahmi
🌟 Real Estate Sales Professional @ Remax West Realty
📲 (437)-333-4367

https://my.matterport.com/show/?m=QxtAnasE1ro

https://tour.uniquevtour.com/vtour/90-peelton-heights-rd-brampton?mode=contact

Unique VTour: 90 Peelton Heights Rd, Brampton

09/18/2021

07/28/2021

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07/14/2021

Bank of Canada maintains policy rate and forward guidance, adjusts quantitative easing program…

The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance on the path for the overnight rate. This is reinforced and supplemented by the Bank’s quantitative easing (QE) program, which is being adjusted to a target pace of $2 billion per week. This adjustment reflects continued progress towards recovery and the Bank’s increased confidence in the strength of the Canadian economic outlook.

The global economy is recovering strongly from the COVID-19 pandemic, with continued progress on vaccinations, particularly in advanced economies. However, the recovery is still highly uneven and remains dependent on the course of the virus. The recent spread of new COVID-19 variants is a growing concern, especially for regions where vaccination rates remain low.

Global GDP growth is expected to reach 7 percent this year and then moderate to about 4 ½ percent in 2022 and just over 3 percent in 2023. This is a slightly stronger forecast than the one in the Bank’s April Monetary Policy Report (MPR) and primarily reflects a stronger US outlook. Global financial conditions remain highly accommodative. Rising demand is supporting higher oil prices, while non-energy commodity prices remain elevated. The Canada-US exchange rate is little changed since April.

In Canada, the third wave of the virus slowed growth in the second quarter. However, falling COVID-19 cases, progress on vaccinations and easing containment restrictions all point to a strong pickup in the second half of this year. The Bank now expects GDP growth of around 6 percent in 2021 – a little slower than was expected in April – but has revised up its 2022 forecast to 4 ½ percent and projects 3 ¼ percent growth in 2023.

Consumption is expected to lead the recovery as households return to more normal spending patterns, while housing market activity is projected to ease back from historical highs. Stronger international demand should underpin a solid recovery in exports. As domestic and foreign demand increases and confidence improves, business investment will gain strength. Employment has once again begun to rebound, and we expect the hardest-hit segments of the labour market to post strong gains as the economy re-opens. However, the pace of the recovery will vary among industries and workers, and it could take some time to hire workers with the right skills to fill jobs. The aftermath of lockdowns and ongoing structural changes in the economy both mean that estimates of potential output and when the output gap will close are particularly uncertain.

CPI inflation was 3.6 percent in May, boosted by temporary factors that include base-year effects and stronger gasoline prices, as well as pandemic-related bottlenecks as economies re-open. Core measures of inflation have also risen but by less than the CPI. In some high-contact services, demand is rebounding faster than supply, pushing up prices from low levels. Transitory supply constraints in shipping and value chain disruptions for semiconductors are also translating into higher prices for cars and some other goods. With higher gasoline prices and on-going supply bottlenecks, inflation is likely to remain above 3 percent through the second half of this year and ease back toward 2 percent in 2022, as short-run imbalances diminish and the considerable overall slack in the economy pulls inflation lower. The factors pushing up inflation are transitory, but their persistence and magnitude are uncertain and will be monitored closely.

The Governing Council judges that the Canadian economy still has considerable excess capacity, and that the recovery continues to require extraordinary monetary policy support. We remain committed to holding the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2 percent inflation target is sustainably achieved. In the Bank’s July projection, this happens sometime in the second half of 2022. The Bank's QE program continues to reinforce this commitment and keep interest rates low across the yield curve. Decisions regarding further adjustments to the pace of net bond purchases will be guided by Governing Council's ongoing assessment of the strength and durability of the recovery. We will continue to provide the appropriate degree of monetary policy stimulus to support the recovery and achieve the inflation objective.

Information note

The next scheduled date for announcing the overnight rate target is September 8, 2021. The next full update of the Bank’s outlook for the economy and inflation, including risks to the projection, will be published in the MPR on October 27, 2021.