Tuesday, December 17, 2013

ADU Accessory Dwelling Units in Mississauga


As they have said on council, there will surely be some issues with regards to the implementation of Accessory second units,
to read the full report on the ADU's in Misissauga, click this link (pdf)
 
The City of Mississauga licencing by-law that will legalize second units will come into effect soon. .If approved, the bylaw will set licensing fees and other requirements, such as inspections and proof of insurance, for owners who want to rent second units.
 
You can read more at  mississauga.ca/housingchoices for updates and more information.
 
Thanks!
Mark
 


Toronto Real Estate Board (TREB) Average Prices and Graph

For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1
BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com

Monday, December 16, 2013

Basement Apartments in Mississauga ADU's will be legally licensed starting January 1, 2014

Basement Apartments will be legal in Mississauga shortly.

Secondary Units Licensing Program Bylaw Effective January 1, 2014

City Council approved a bylaw on September 18 to license second units in Mississauga. The bylaw will be effective on January 1, 2014~ Ontario laws now require municipalities to allow second units in homes. These units are also known as basement apartments, in-law suites and secondary units .

Starting January 15t,a City licence is required for second unit in Mississauga to be legal. A unit will only be licensed if it complies with Official Plan zoning regulations, as well as Ontario fire and building code requirements.

The City held public meetings in 2012 to gather the public's thoughts and ideas about how second units should be permit them in Mississauga.

Comments were also received by email and through an online survey. A statutory public meeting required by the Planning Act was held in early 2013.

The City's Second Unit Implementation Strategy is part of Housing Choices: Mississauga's Affordable Housing Stragey. The City's goals for legalizing second units included ensuring safety, preserving neighbourhood character and maintaining public services.

See the article below too.

Read more at mississauga.ca




Toronto Real Estate Board (TREB) Average Prices and Graph

For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1
BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com

Housing Choices -- Second Unit Information

Recent changes to provincial legislation require all municipalities in
Ontario to permit second units.

Second units are self-contained units in single-family homes. They are often
called basement apartments or in-law suites.

Second units can expand housing opportunities within established communities
and provide much needed safe, healthy, housing choices. They can offer
accommodation for people with affordability issues such as youth, older
adults and new immigrants. They can also provide additional income for young
couples looking to buy their first home or older adults wanting to stay in
their neighbourhood

Wednesday, December 04, 2013

Bank of Canada Rate Announcement Decmeber 4 2013 no change in rate

Bank of Canada has decided to not change the bank rate

Once again, the Bank of Canada is leaving it's key lending rate at 1% which means that we consumers have a base of 3% for our Bank Prime lending rate.  This has remained unchanged for over 3 years now, unprecendented in the history of the Bank of Canada to leave the rate unchanged for such a long period of time.

See historic interest rate graph at this link

The Bank of Canada said, "
The global economy is expanding at a modest rate, as the Bank expected. Although growth in several emerging markets has continued to ease, growth in the United States during the third quarter of 2013 was stronger than forecast. Even if some of this pickup was due to temporary factors, the data are consistent with the Bank’s view of gathering momentum in the U.S. economy.
In Canada, underlying growth is broadly in line with the Bank’s projections in its October and July Monetary Policy Reports. Real GDP growth in the third quarter, at 2.7 per cent, was stronger than the Bank was projecting, but its composition does not yet indicate a rebalancing towards exports and investment. The housing sector has been stronger than expected but is consistent with updated demographic data and a pulling forward of home purchases in light of favourable financing conditions. The Bank continues to expect a soft landing in the housing market. Non-commodity exports continue to disappoint and the price of oil produced in Canada has eased further. Business investment spending is up from previous low levels, but is still recovering more slowly than anticipated. On balance, the Bank sees no reason to adjust its expectation of a gradual return to full production capacity around the end of 2015"

Read more from the Bank of Canada


Toronto Real Estate Board (TREB) Average Prices and Graph

For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1
BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com