Arrange a mortgage

Money makes the world go round, and a mortgage gives you the power to buy a home. This isn’t the most fun step in buying a home, but it’s vital.
Who do you talk to?
There are hundreds of banks, credit unions and other lenders out there who would love your monthly mortgage payments. So talk to everybody. Now is not the time to be money-shy! Talk to your banker and call around to other banks. Ask people you know. REALTORS® are very knowledgeable about Mortgages and have lots of good advice.
Call a mortgage broker
Mortgage brokers are another great resource. They find low rates for a living, and they usually don’t get paid unless you sign a mortgage through them, so they’re highly motivated to get you the best deal.
Your best mortgage might be the seller’s mortgage
Often, you can take over or ‘assume’ the seller’s mortgage. This is a great idea if the seller is locked into a lower interest rate than you can get right now. Your REALTOR® can help you.
Mortgage terminology
• Mortgage term
Typically from six months to five years, the ‘term’ refers to how long the bank has agreed to lend you the money. At the end of the term, you usually renegotiate a new term.
• Amortization
The length of time it will take you to pay off the whole mortgage. Often as long as 25 years, if you don’t accelerate your payments. The longer your amortization, the lower your monthly payments, but the more you pay in interest over time.
• Interest rates
Interest is the cost of borrowing money, and the interest rate tells you exactly how much. Using this mortgage calculator, check the difference between borrowing $100 000 at 6% and at 9% at the same amortization. Surprising, no?
That interest rate not only affects how much you pay, it also affects how much you can borrow. So remember to keep searching for the best rate!
How big a down payment?
You want as small a mortgage as possible, which means making the biggest down payment possible. Just remember to set money aside for all the fees associated with buying a home. Not to mention moving, repairs, renovations, new furniture… think ahead.
THE HOME BUYERS’ PLAN – A little sweet relief
If you’re a first-time homebuyer with money in an RRSP, you can withdraw up to
$20 000 without paying any income tax. If your spouse is also eligible, that’s
$40 000. Ask your REALTOR® how to best take advantage of this plan.
Lock into an interest rate; for how long?
It’s a tough question. What if you ‘lock in’ for five years and the rate goes into a period of decline? That could mean you’re stuck paying more than you had to for a long time. But if rates were to steadily climb over the next five years, locking in for five years now would be a great move. Locking in for a short period like six months is a more cautious ‘wait and see” approach. Your REALTOR® will have a lot of good advice.

The Birth of Mississauga

In 1805, government officials from York, as Toronto was then called, bought 340 km? (84,000 acres) of the Mississauga Tract and in 1806 the area was opened for settlement. The various communities settled include: Clarkson, Cooksville, Dixie, Erindale (called Springfield until 1890), Port Credit, Sheridan, and Summerville. This region would become known as the Toronto Township.
Toronto Township was formed on August 2, 1805 when officials from York (what is now Toronto) purchased 84,000 acres (340 km?) of land from the Mississaugas for 1,000 pounds. After the land was surveyed, much of it was given by the Crown in the form of land grants to United Empire Loyalists who emigrated from the US. More than a dozen small communities grew in this area, most of which were located near natural resources, waterways for industry and fishing, and routes leading into York. In 1873, in light of the continued growth seen in this area, the Toronto Township Council was formed to oversee the affairs of the various villages that were unincorporated at that time. The Council’s responsibilities included road maintenance, the establishment of a police force, and mail delivery service.
In 1820, a second purchase was made and additional settlements established including: Barbertown, Britannia, Burnhamthorpe, Derry West, Elmbank, Malton, Meadowvale Village, Mount Charles, and Streetsville. This led to the eventual displacement of the Mississaugas and, in 1847, they were relocated to a reserve in the Grand River Valley near present-day Hagersville. Except for small villages, some grist mills and brickworks served by rail lines, most of present-day Mississauga was agricultural land, including fruit growing orchards through much of the 19th and first half of the 20th century. Toronto residents would travel to the township to pick fruits and garden vegetables.
Cottages were constructed along Lake Ontario in the 1920’s as weekend getaway houses for weary city dwellers.
Malton Airport opened in 1937, which would become Canada’s busiest, Toronto Pearson International Airport.
The Queen Elizabeth Way highway, one of the first controlled access highways in the world opened to Hamilton and later Niagara in 1939. The first prototypical suburban developments occurred around the same time, in the area of the Dixie Road and the QEW. Development in general moved north and west from there over time and around established towns. Large scale developments such as in Meadowvale and Erin Mills sprung up in the 1960s and 70s.
With the exception of Port Credit and Streetsville, the township settlements were amalgamated by a somewhat unpopular provincial decree in 1968 to form the Town of Mississauga. The town name was chosen by plebescite over “Sheridan”. Political will, as well as a belief that a larger city would be a hegemony in Peel County, kept Port Credit and Streetsville as independent island towns encircled by the Town of Mississauga. In 1974, both were annexed by Mississauga when it reincorporated as a city. That year, the sprawling Square One shopping centre opened.
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Is The Real Estate Market Rebounding?

All indications are that it is . Especially in the Toronto downtown core and a few of its close suburbs. We are starting to see multiple offers again on single properties. Recently I put together an offer for a client and by the time I registered it , it sold. Then again for the same clients, I was about to show them another property and once again sold.
This is not only occurring on resale properties but on new developments as well.
The mycondonetwork.com team put together nearly 30 offers to purchase for our various clients and while they were being presented the builder increased the original asking price and our thirty offers dwindled down to 3. Not only that we did not get the units we were asking for.
The buyers market which by my opinion was short lived is over. If you have any intention of buying that first home wait no longer for it will cost you dearly.

The Toronto Waterfront-A great place to be and live

The sun is out, the weather is warm, a light breeze what a perfect day to go down to Toronto’s waterfront and go for a nice walk,run, bike ride, or roller blade. 

Not only is Toronto’s Waterfront a great place to visit, but its a great place to live! There are several buildings along the waterfront from low rise to hi rise. Imagine waking up in the morning and stepping out to your balcony and enjoying your morning cup of coffee while having a beautiful view of the water. Its relaxing and rejuvenating all at the same time.

There are some commercial on the ground level of some of these buildings that include convenience stores, dry cleaners, bistro’s and much more! All your necessities are in the area such as banking, grocery stores, drug stores. You have easy access to to the Gardiner expressway whether your going East or West, and Lakeshore Streetcar is short walk. Your a 5 min drive into the downtown core, 10 min drive to High Park and Bloor West Village.

So when your thinking of buying a condo, consider the Toronto Waterfront and buy into a place of paradise!

Add a lawyer to your team

Similar to when you bought your home, it’s essential to have a lawyer handle all the various legal documents that change hands.
You’ve probably already worked with a real estate lawyer
The most logical candidate is the lawyer you hired when you bought your home. They’re already familiar with the property and may have even prepared the purchase documents. If you were satisfied with their work and fees, look no further.
Other ways to find a lawyer
Ask the people you trust like friends, family or business associates if they know a lawyer with substantial real estate experience. REALTORS® can give you the names of several lawyers, but can’t legally recommend a single one. Before you agree to a lawyer, make sure they’re experienced in real estate, ask how they structure their fees, and get an estimate of the other legal costs you can expect.
How your lawyer will help with the sale
Your lawyer will review important documents that require your signature. The most critical of these is the “offer” submitted by the buyer. You want to know exactly what you are agreeing to before you sign any offer. You will be legally committed to anything you sign, so it’s essential to make sure you’re protected