Toronto Life featured an article about what Life in Toronto could be like in 50 years. Here is the link:
http://torontolife.com/city/
Some of the highlights include an illustration of what the Skyline could look like (see picture above)
Another story covers the Real Estate prices increase over the LAST 50 years. What do your think was the cost increase between 1966 and 2016? 6,000%!
(source credit: torontolife.com)
With rising house prices so-called “Second Suites” have been increasing in popularity due to the additional income that can help carry the mortgage bills, increase cash flow or make use of otherwise not needed space.
These five basic requirements determine if an authorized second suite can be created:
1. The principal residence must be at least five years old
2. The house must be detached or semi-detached (town/ rowhouses under certain conditions only)
3. The exterior façade of the house cannot be significantly altered
4. The second suite must occupy a smaller area than the rest of the house and it must be a single, self-contained dwelling
5. The property must meet parking requirements (dome exceptions apply for Toronto)
More detail can be found in this publication: http://www.secondsuites.info/
(Source: City of Toronto Brochure “Second Suites”)
I am a German and English speaking registered Real Estate Sales Representative (Realtor®) and Member of the Toronto Real Estate Board (TREB), Ontario Real Estate Association (OREA) and Canadian Real Estate Association (CREA).
Direct: (647) 893-7735
[email protected]
Right at Home Realty Inc. Brokerage
#B121 – 1396 Don Mills Road
Toronto, Ontario M38 0A7