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We have listed a new property at 11 Sir Percival CRT in Markham.
Stunning 5 Brdm Custom Built 5-Level Side Split On A Mature Family Friendly Court In Markham Village. Gorgeous Reno Kitchen With Quartz Counters, Huge Centre Island, Pot Lights, Euro Bin Drawers, Two Sinks, Boundless Cabinets & Storage Space. Massive Dining Rm With A Lovely Bay Window, Huge Family Room With A Walk Out To The Back Yard Inground Pool & Patio. Lower Level Boasts 2nd Kitchen, Additional Family Rm, 3Pc Bath, Plus Xtra Living Space & Workshop.
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We have listed a new property at 11 Sir Percival CRT in Markham.
Stunning 5 Brdm, 5-Level Side Split On A Mature Family Friendly Court In Markham Village. Gorgeous Renovated Kitchen With Quartz Counters, Huge Centre Island, Pot Lights, Euro Bin Drawers, Two Sinks, Boundless Cabinets And Storage Space. Massive Dining Room With A Lovely Bay Window, Huge Family Room With A Walk Out To The Back Yard Inground Pool & Patio. Lower Level Boasts 2nd Kitchen, Additional Family Rm, 3Pc Bath, Plus Xtra Living Space & Workshop.
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LEASE VS PURCHASE HVAC SYSTEM

STAY COOL AND DON’T OVERHEAT BY FOLLOWING OUR ADVICE

Presently, the real estate market has been complicated by changing mortgage rules, lack of inventory and rising interest rates. Separately, each of these factors can complicate buying/selling decisions making conditions volitile. Many other issues can impact the value of a home and its attractiveness to potential consumers. Over our years of experience long-term contacts associated to HVAC installations have proven to be problematic.

As we enter the steamy months of the summer one guaranteed truth is that we will rely on our home comfort systems most days. We have seen real estate deals be blown up by oppressive long term HVAC purchases that will demand full pay out before a deal can be closed.

In many instances clients are attracted by seemingly low payment plans accrued over several years, and as time passes many forget about this monthly payment. When the time comes to settle sellers are faced with the formidable cost of pay out these contracts.

Commonly, a HVAC company will offer low monthly payment over five years for a home comfort solution at a cost of $8000-11000. What consumers do not realize is that these prices are inflated up to 25% with interest rates close to 9%. The penalties for buying out these contracts are substantial, in addition to the initial inflated price point. If clients maintain the contract for the duration of the required time these heating and air conditioning units can end up costing double. These contracts cannot be assigned to new owners and remain a liability to the seller.

What’s the solution?

1.     Avoid these contracts.

2.     Ask questions about penalties, closing ratios and read the fine print of any HVAC agreement.

3.     Look for contractors that offer their own cheaper financing or shop at a store that has no interest for 12 months. Be sure to pay off these agreements before the end of the 11th month.

4.     Get a couple of price quotations from reputable independent contractors

5.     Check into a home line of credit to finance your HVAC project.

6.     Be wary of the premium you pay on brands like Trane and Lennox, all units are made with the same components and have the same warranty.

7.     Make sure you fill out all warranty cards as you might qualify for an extra five years of coverage.

In our two decades of experience, we have had several clients disappointed when large cash payouts are required before closing. If a low monthly payment over five years seems too good to be true, it likely is.

Feel free to contact us for more information or contact our trusted HVAC specialists at

info@fortisheating.com and tell him Trish and Kevin recommended them.

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Written BY KEVIN GUEST

Buying and selling real estate is undoubtedly one of the most emotional experiences in our lives. A home provides shelter and solace from an increasingly challenging world, but what happens when our largest investment makes us question our financial security? Over the last three months the market has seen shrinking prices sending real estate consumers into panic. One must remember that the housing market is just that, a market. If you have been following the stock market you will have noticed that prices have been volatile, and the real estate market has been comparatively calm. Conditions for market success have not been favourable reacting to rising inflation. Market watchers are not overly surprised at shrinking prices because there are several explanations. First, interest rates have risen modestly and are expected to continue to rise over the next few quarters impacting affordability for some buyers. Savings must increase to offset the added cost of borrowing. Second, Ontario is facing a provincial election. Election years are typically soft for the real estate market as many are waiting to see the complexion of the new government. Third, COVID has had a great impact on prices over the last two years as consumers have kept values rising reacting to being house bound. Fourth, COVID again, people have returned to travel with numbers of travellers in Canada’s airports returning to pre-pandemic levels. Fourth, prices have finally hit a point where they are unattainable for many first-time buyers chasing a large group from the market. This is not an exhaustive set of conditions, but you can see why we have seen a downward trend in prices.

The market will need time to absorb these challenges and when the dust settles, we will likely see upward pressure on prices. There is no doubt that demand has pushed price increases, but this is only part of the issue. Interest rates have been at historical lows and in turn push home values up. Demand has been pushed by an expectation that prices will continue to skyrocket making people feel they should purchase before they are priced out. If a client qualifies for an $800 000 mortgage today and expect prices to rise by 10% during that year, the pressure is on to buy now or pay $880 000 later.

Why should you expect the market to rebound?  Although one should not expect the market to return to insane increases, recovery will occur. Eventually COVID will be in our rear-view mirror and work from home mandates will decrease. People will continue to spend money on travel and recreation in the short-term choosing to leave real estate decisions on the backburner for a while. Consumers will absorb new interest rates and return to the market. The GTA is insulated by extreme downward pressure and will remain stable compared to other Canadian markets. The writer purchased a home in 1988 when rates were 12-14% and in the first year of ownership saw the value drop. After nine years of ownership the value increased 25%, which seems modest now, making home ownership a lucrative investment. Now is not the time to consider house flipping and assignment sales on new builds because it’s unlikely you will see short-term gains that would cover the costs associated to buying and selling. Best advice, if you are entering the market, it might be time to get a good deal. Buy a home where you would like to spend a substantial number of years and your investment will pay off. The same advice stands for those who recently purchased at potentially higher prices. These buyers will benefit from locked in lower interest rates and although they may have paid a bit of a premium, values will increase over the mortgage term. Investing in real estate is never a bad move, this generation of buyers and sellers must accept new market conditions armed with the knowledge that history is on their side.

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We have listed a new property at 601 1238 Dundas ST in Toronto.
Rarely Offered, Stunning, Open Concept,765Sq Ft 2 Bed / 2 Full Bath + Den Condo In The Coveted "The Taylor" Boutique Style Building. Located In The Bustling Leslieville Neighbourhood. Boasting 9Ft Exposed Concrete Ceilings, Functional Layout, Huge Full Width Balcony For Your Summer Bbq's. Prim Bdrm Has Beautiful Frosted Glass Sliding Double Closet & Gorgeous Frameless Glass Shower. Freshly Painted Throughout. Shops, Hwys, Beach, Parks Prime East End Location!
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