r/TorontoRealEstate

Looks like Homeowners are bending, but not breaking. Is the tsunami of foreclosures due to the mortgage renewal cliff that many ppl on this sub predicted would happen in 2026 officially cancelled?

I’m trying to understand the strategy at that time, genuinely trying to get it. Please don’t treat this as a debate.

At around 7% annual appreciation, a $600K (1 bedroom price at that time) condo would be worth roughly $850K–$900K after 5–6 years. What were investors thinking? Who would have kept buying at those prices and kept the cycle going?

Even at lower appreciation rates, it seems obvious that prices were too high to keep rising indefinitely.

I'm invested in both to be transparent. But at a point where I'm debating shifting more money to real estate. Cash flow neutral condos at $400k with an investent of $80k is now within reach.

The stock market seems more detached from reality between the 2 at this point. AAPL stock I bought at $200 in 2025 is now at $300. TD stock I bought at $80 in 2025 is now at $160.

Sure, these are specific stocks but crazy returns seem to apply across the board even for many ETFs.

Edit: For context, I'm in my 40s and so have actually seen the stock market crash more than once. This might be making me more cautious.

Hi all, when Covid hit we had decided to renovate our home to keep busy. This home was intended to be our forever home, I gutted and redid everything beautifully, including removal of a structural wall (wife’s cousin is an engineer and drafted us up a plan for it)

Since it we had no intention of selling and we were in lockdown, we just did everything unpermitted, although we did use licensed tradesman to help with plumbing and electrical and whatnot.

Fast forward to today and we feel like we have outgrown the space and would like to sell and buy something else.

But I’m afraid this will bite us in the ass.

Are we screwed?

Considering buying a house. I’m wondering if I must buy before heavy winter sets in aka before December, or if I can wait until April/May? The main reason I want to wait is to familiarize myself with all the processes and paperwork, finding real estate agent and learn about other things I should know about before house buying.

I’m in the cooling-off period for a new-build builder inventory unit in the east end of downtown (Distillery/Lawrence area) and my cooling period expires in 2 days. I’m starting to get serious buyers remorse and would love some perspective.
The unit is ~1,000 sqft, 2+den (parking and locker included) high floor, with a large terrace, and the price works out to roughly $900/sqft (about $950K net). Is that a reasonable price for a new-build in this area, or am I overpaying? Maintenance is at 0.8 per sqft
I genuinely like the unit and the neighbourhood. I commute to downtown 5 days a week and really don’t want to move outside downtown. The terrace is a big selling point and the unit isn’t a typical small/shoebox condo.
My main compromises are the very small European-sized appliances (~22”) and the kitchen layout, which I’m still trying to figure out. Spending almost $950K also makes me nervous, especially given the current condo market.
I know nobody can time the market, but if you were in my position, would you go ahead at ~$900/sqft or walk away and wait?
Would especially appreciate recent $/sqft comps for new-build 2+den/3-bed units in the east end of downtown / Distillery / Lawrence area.

Reminder that a "balanced" market looks at home sales vs new listings, NOT home prices.

Bought a house and on final walkthrough saw two different new ceiling leaks under where both of the bathrooms are. When brought up to the seller they advised in writing that it occurred recently from removing their bidets. They had a handy man go out and "repair the damage." Final walkthrough was yesterday and we close at 6pm today. Their real estate agent is not really responsive and told us to contact our lawyer.

Any advice on how to best proceed? The leaks are new and admitted by the seller in writing. I'm not thinking of walking away from the deal but I don't want to inherit damage they caused by negligence. They won't allow us to hold back the money nor do another walkthrough.

Just wanted to add another comment to the many on here about Enercare. They are such a goddamn scam - never, never use them. We got backed into a rental hwh (the seller passed away and the agent believed it was owned)
with them when we bought our house and only realized months later when Enercare and Enbridge split their billing. Useless, rude customer service and kept constantly trying to sign us up for “free” maintenance plans that we’d obviously be obligated to pay for. Buying them out today just to be done with it. Avoid avoid avoid.

Buyer: 25F, $85K/year, no debt, first time buyer, Toronto.

Down payment: $200K, gifted from parents (60F/60M). Money was originally their own down payment savings that never got used. No ownership stake for them, straightforward gift, gift letter, etc. They also plan to live in the home with me.

Question 1, affordability: With $85K income + $200K down, roughly what purchase price is realistic under current stress test rules? Ballparking around $550K to $600K on my income alone but want a reality check from people who've qualified recently.

Question 2, adding parents to the mortgage: Parents receive roughly $1K to $2K/month combined in pension income (dad also part time employed, mom on LTD). Would adding them as co borrowers meaningfully move the needle on qualifying amount, or is the income too modest or unstable (part time + LTD) for lenders to weight it much? Roughly how much extra purchasing power would that realistically add?

Question 3, guarantor vs. co borrower: Since they don't want to be owners, just want to help me qualify if needed, do any lenders let a guarantor back the mortgage without going on title? Or does adding their income always mean adding them to title too?

Question 4: Any Toronto or Ontario specific things I should factor in, land transfer tax (municipal + provincial), first time buyer rebates, anything condo specific if I go that route vs. freehold?

Appreciate any input from people who've navigated gifted down payment or multigenerational setups in the GTA specifically.

Hey guys,

Recently my condo board put up some locker units up for sale which I am interested in buying. They're $1500 and $2000 for a bigger unit, I'm looking to buy two of them.

The problem is I have to pay a lawyer to add it to my title and the cheapest lawyer fee I've been quoted is $1200 which is almost the same cost as the locker.

The condo board sent me the purchase agreement and I can review it myself, so 1200 seems still too high for what it is. Any way to have it done for cheaper?

I am looking for a real estate agent to buy a house. If you are willing to reduce your commission to 1% and transfer me the remaining 1.5%, message me. I know a few people who have done this with agents. Thanks

Hi everyone,

Looking to purchase a condo unit at 5 Parkway Forest Dr. Wondering if anyone knows of the pet policy? It seems that dogs and cats are not allowed on paper.

If anyone has lived here, is the pet rule heavily enforced? Are there residents that keep pets regardless?

Any insights would be greatly appreciated 🙏

I have a bungalow around the Eglinton West area, and live on the main floor alone (solo home owner). I want to rent out my basement which has 2 large bedrooms + 1 junior bedroom and 1 bath.

Is it better to lease room by room, or to lease the whole unit?

So far i have 2 groups asking if they can lease the whole unit and live 4 people.

I know it is within code, but the tenant-to-landlord ratio of 4:1 is pretty intimidating to me. I am a first time home owner (just bought last year), first time potential landlord, and I am alone, so honestly I am unsure how I feel with that many people sharing the floor/ceiling with me. Plus, i personally think 4 people for 1 bathroom is too much (maybe it’s just me)

Ultimately I prefer to have a better sense of control of who and how many people live in the basement… is that a wishful thinking?

Any advice please. Any practical tips please. No snarky comments pls- those are not helpful. Thanks.