From the monthly archives:

January 2010

New Condo In Brampton - Blade Condos

Hi everyone!

In a previous post, I covered Park Place Condos.  Here’s a quick start guide to the other big condo development that is coming up in Brampton. Blade Condos is currently under construction. Read ahead to find out more details on this condo project!

Where is it located?

The official address of this building will be 45 Railroad St., and it will be located in the heart of Brampton, directly across from the GO Station and will be occupying the former Dominion Skate Factory.  Below is a picture of the site before contruction:

Brampton Condo Site

Who’s the builder?

Preston Group.

How tall will it be?

26 storeys.

What kind of suites will they have available?

  • One bedroom
  • One bedroom + den
  • Two bedroom
  • Two bedroom + den

What are square footages on these units?

The one bedroom units range anywhere between 571 – 831 square feet. The two bedroom units range anywhere between 900 – 1116 square feet.

What amenities will the building feature?

  1. Security
  2. Skating oval that converts into a walking track in the summer
  3. Fitness room
  4. Swimming pool
  5. Whirlpool
  6. Al Fresco Dining Area
  7. Yoga room

Are there prices or floor plans available?

Prices start at $179,900.  Please contact me and I’ll be happy to provide them for you.

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  • joe
    i want to know how much are the maintenance fees and what they cover and if that rate is guaranteed and for how long. also taxes, and parking is it underground is there a security gate and how many parking spots you get and if you get any extra ones and for how much. thanks for taking the time.

  • joe hawkins
    I'm interested in pricing for 1 bedrooms and/or +dens. Requesting pricing list if possible. Thanks.

Well, here’s the first of many videos to come.  I’ve been meaning to start video blogging for a long time now, but I’ve always preferred text for many reasons.  Some future topics will include buying and selling strategies, Brampton related stories, and other community information.

I welcome any comments, good or bad!  In the meantime, if anyone has any real estate topics they’d like covered, I’ll be glad to throw together a video.  And I promise to shave for the next video.

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As promised, here are the final selling prices for homes in the W24 district of Brampton (anywhere East of Highway 410) for 2009.

dyerware


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  • Rhonda
    Hi Lang, I just read your home prices for 2009, very interesting. I will be on the hunt for a detached 4 bedroom approx. 2400 sq ft home in the Springdale area in another year or so, what are the current market value for these homes, possibly with a finished basement, do you think the prices will go up within the next year, is this a good area to invest in the future ?.

I’ve just finished compiling the final selling prices for all homes in the W23 district of Brampton (that’s anywhere West of Highway 410) for 2009. I’ll be working on the numbers for W24 and have them posted shortly.

Hope this chart will provide useful for some of you!

dyerware


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New Condo In Brampton - Park Place

Hi everyone!

Here’s a quick start guide to one of the new condos that are coming up in Brampton.  Park Place is currently under construction.  Read ahead to find out more details on this condo project!

Where is it located?

The official address of this building will be 4 James St., and it will be located in the heart of Brampton close to City Hall and Rose Theatre.

Who’s the builder?

Inzola.

How tall will it be?

27 storeys with a beautiful 2 storey lobby.

What kind of suites will they have available?

  • One bedroom + terrace
  • One bedroom + den + terrace
  • Two bedroom + terrace
  • Two bedroom + den + terrace

What are square footages on these units?

The one bedroom units range anywhere between 612 – 743 square feet.  The two bedroom units range anywhere between 887 – 1764 square feet.

What amenities will the building feature?

  1. Security
  2. Library
  3. Yoga Studio
  4. Fitness Room
  5. Home Theatre
  6. Party Room
  7. Dining Room
  8. Billiards Room
  9. Boardroom
  10. Cards Room
  11. BBQ Patio
  12. Guest Suite

Are there prices or floor plans available?

Please contact me and I’ll be happy to provide them for you.

Can I see what the building looks like?

You can access a live webcam that shows the construction of the building.

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  • lang
    Hi Rose Please check your email. :) Lang

  • Rose Paulo
    please keep me up to date on info regarding Park Place condos. Also is there a prise list for the units along with sq?? thank you, Rose

HST Tax

One of the most frequent questions I get from clients is about the upcoming Harmonized Sales Tax (HST) and how it will affect the purchase of a home.  Here is the breakdown of the rules:

When does the HST take effect?

July 1, 2010.

How much tax will I be paying in total?

13% (That’s 5% GST + 8% PST).

I’m buying a resale home, so will I have to pay this HST?

Good news!  The answer is NO!  If you’re buying a resale home, you simply pay the purchase price as usual.

I’m thinking of buying a new home from the builder, so will I have to pay this HST?

Ouch, yes you do!

But wait, I heard there is some sort of rebate program in place if I bought a brand new home?

The Province is proposing a rebate so that new homes across all price ranges would receive a 75 per cent rebate of the provincial portion of the single sales tax on the first $400,000. For new homes under $400,000, this would mean, on average, no additional tax amount compared to the current system.

Is there anything else that I would have to pay HST on?

Unfortunately, they’re hitting you everywhere.  You’ll be paying HST on legal fees, moving costs, home inspection fees, and real estate commissions.

Where can I find out the full details of this tax and how it works?

You can read all the exciting details right here.

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  • lang
    Hi Brent Yes, in this case you would. Generally, sales of new homes under written agreements of purchase and sale entered into on or before June 18, 2009 would not be subject to the provincial portion of the single sales tax, even if both ownership and possession are transferred on or after July 1, 2010. The tax would also not apply to sales of new homes under written agreements of purchase and sale entered into after June 18, 2009 where ownership or possession is transferred before July 1, 2010. Hope that helps! Lang

  • Brent
    If I purchase a new home before July 2010 but completion date is Summer of 2011, would I still have to pay the HST tax?

Brampton Real Estate October 2009

December 2009

December sales across the GTA showed a 17% increase over the same month of 2008.  Overall in 2009, home prices increased by 4%.

The average time it took to sell a home continued to stay brisk at an average of 27 days, contributing the trend of low inventory of homes in Brampton.

In December of 2009, Brampton had only 849 active listings on the market, 517 of which were new listings. There were 502 recorded sales in this month. Here is the break down according to areas in Brampton.

W23 (Any area in Brampton west of Highway 410)

Overall
Average sale price: $330,180
Median sale price: $315,250
Average number of days it took to sell a property: 26 days
Average % of listing price a property sold for: 98% of asking price

Detached Homes
Number of properties sold: 180
Average sale price: $374,110
Median sale price: $359,500
Average % of listing price a property sold for: 98% of asking price

Semi-Detached Homes
Number of properties sold: 60
Average sale price: $283,292
Median sale price: $285,450
Average % of listing price a property sold for: 99% of asking price

Condo Apartment
Number of properties sold: 5
Average sale price: $200,300
Median sale price: $205,000
Average % of listing price a property sold for: 97% of asking price

Condo Townhouse
Number of properties sold: 22
Average sale price: $209,345
Median sale price: $203,500
Average % of listing price a property sold for: 98% of asking price

Attached/Row/Townhouse
Number of properties sold: 32
Average sale price: $275,361
Median sale price: $266,000
Average % of listing price a property sold for: 98% of asking price

W24 (Any area in Brampton east of Highway 410)

Overall
Average sale price: $341,958
Median sale price: $333,000
Average number of days it took to sell a property: 27 days
Average % of listing price a property sold for: 97% of asking price

Detached Homes
Number of properties sold: 103
Average sale price: $434,451
Median sale price: $428,000
Average % of listing price a property sold for: 98% of asking price

Semi-Detached Homes
Number of properties sold: 32
Average sale price: $306,153
Median sale price: $301,750
Average % of listing price a property sold for: 98% of asking price

Condo Apartment
Number of properties sold: 27
Average sale price: $165,541
Median sale price: $156,600
Average % of listing price a property sold for: 96% of asking price

Condo Townhouse
Number of properties sold: 18
Average sale price: $187,3725
Median sale price: $182,500
Average % of listing price a property sold for: 96% of asking price

Attached/Row/Townhouse
Number of properties sold: 18
Average sale price: $294,967
Median sale price: $293,250
Average % of listing price a property sold for: 98% of asking price

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Brampton Basement Apartment

This is probably the most popular topic of conversation on my blog, as well as the most asked about topic in my emails.  Hopefully the information I provide below will be clear, concise, and answer all your questions as thoroughly as possible.  If you haven’t already done so, please read my previous article on basement apartments in Brampton.

I’m confused.  What is the definition of a basement apartment according to the city?

A basement apartment is a self-contained apartment consisting of a room or rooms in a single or semi-detached house. A basement apartment may be in any part of the house, not necessarily in the basement. Some people call these apartments granny flats, nanny suites, accessory apartments and second suites. The City’s bylaw refers to them as “residential units.”

A self-contained apartment must have a separate means of entry (which may be through another unit), a kitchen (or cooking area) and bathroom facilities. A self-contained apartment may be as small as a single room that contains all of these features.

–> However, if you rent a room in a house or a flat with a shared entrance, kitchen and bathroom facilities, this bylaw does not apply to you. <–

Who enforces these by-laws?  Is this Ontario-wide or does this only apply to Brampton?

In 1994, the Government of Ontario proclaimed Bill 120, which permitted second units in houses. The bill permitted the units, despite Brampton’s municipal zoning bylaws, if the units met health and fire safety standards.

On November 16, 1995, the Government of Ontario introduced Bill 20, restoring to municipalities the right to outlaw basement apartments. Bill 20 became effective on May 22, 1996.

Bill 20 prohibits new apartments in houses after May 22, 1996. The bill allowed homeowners to keep apartments in houses that tenants or other residents occupied on or before November 16, 1995 – if they conform to the requirements of the original Bill 20. It also allowed apartments that homeowners built between November 16, 1995 and May 22, 1996 if the City issued a building permit.

So if my house has a basement apartment, how do I know if it’s legal or not?

If you purchase a home in Brampton and the basement apartment was built after November 16, 1995, it is illegal. The only legal basement apartments in Brampton had to have been built prior to that date, and have had to been registered with the city before January 31, 2006 and/or have legal non-conforming status.

A single or semi-detached registered home can only have one basement apartment. Homes that have been subdivided into more than two units are strictly prohibited unless the property has been specifically zoned to permit multiple units. It is extremely rare to find a house that has been zoned as a triplex!

Can I legally convert vacant space in my home into a basement apartment?

NO! The City Of Brampton states:

More than one dwelling unit is not permitted and is not safe.  The property must be returned to a One Dwelling Unit house regardless of who is occupying the additional dwelling unit.

Definition of dwelling unit as per 1994 Ontario Building Code “Dwelling Unit means a suite operated as a housekeeping unit, used or intended to be used as a domicile by one or more persons and usually containing cooking, eating, living, sleeping, and sanitary facilities”.

The property shall be converted back to a one dwelling unit house by completing ALL of the following:

  1. All tenants/occupants must be removed from one of the dwelling units, and
  2. The locks separating the units shall be removed and replaced with passage sets, and
  3. Owners must sign the “One Unit Dwelling Declaration” located at the back of this package and provide to the Fire Prevention Officer, and
  4. Ontario Fire Code Division B, 2.13.2.1. requires operating smoke alarms on every storey located outside of the sleeping area, and
  5. City of Brampton By-Law 275-98 as amended requires that a Carbon Monoxide alarm (CO alarm) is installed outside of the sleeping area in a house that contains a fuel-fired appliance (eg. gas / oil furnace, fireplace).

A Fire Prevention Officer will attend your residence after 90 days to inspect the entire property and the expectation is that the building is fully compliant with all codes and by-laws. The expectation is that the building will be converted back to a One Dwelling Unit house and if not, charges will be filed.

Failure to comply with all applicable codes and by-laws will result in prosecution.

Can I still register an older home that had a basement apartment before November 16, 1995?

A home with a basement apartment that a previous owner had not registered with the City of Brampton may still have legal non-conforming status. Contact Enforcement and By-Law Services to determine whether the home has this status.

If City staff investigate the situation and discover enough evidence to prove that the home had a basement apartment before November 16, 1995, the staff can add your unit to the City’s Registration List — if you have complied with the requirements under the Building Code and Fire Code and you have clearance from the Electrical Safety Authority. Converting and upgrading the apartment to meet standards may cost you more than $15,000. However, you may also qualify for a grants for converting your property through the Canada Mortgage and Housing Corporation (CMHC).

If staff do not find enough evidence that the home had a basement apartment before November 16, 1995, the City will require the homeowner to dismantle the unit or face prosecution.

What should I be watching out for when I am looking to buy a home with a basement apartment?

Lawyers or real estate agents such as myself can confirm the status of a basement apartment with the city in order to provide you with the right information.

Real Estate Agents are bound by code of conduct guidelines and must fully and fairly disclose all information about a property for sale. Homes with doubtful legal status are typically listed with the caution “Vendor does not warrant retrofit status”, and you may have to seek further legal advice before proceeding with the purchase of a home.

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  • lang
    Neil Thank you so much for the kind words - glad my article was useful! :) Lang

  • Neil Uttamsingh
    Lang, What an incredible article! Very well written indeed. I know a few friends who would benefit from reading this. One of them who in fact is a real estate investor, investing in Brampton. Often times there is so much confusion with respect to this topic. The flow of your article was so descriptive and informative. Kudos for creating such quality content to educate your readers! Best Regards, Neil Uttamsingh.

Happy New Year!

January 1, 2010

Here’s wishing all my clients and blog readers a very happy new year!  Best wishes in all personal and professional endeavours for 2010!
Cheers,
Lang

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