Young families in major urban centres across the Canadian real estate market have to contend with a tidal wave of financial challenges, particularly housing and childcare. Whether in Toronto or Vancouver proper, low- and middle-income millennial families have limited home-ownership options beyond condominium units. In fact, a new report from RE/MAX reveals that condos have become not only the most-common choice for first-time buyers, but increasingly for move-up buyers as well. With that said, big city living offers some amazing benefits that you’ll never find in a small town, including great connectivity, proximity to work and play, and distinct neighbourhoods, each with their own flavour and a unique sense of community. So, where are some of the best big-city Canadian neighbourhoods suitable for households with kids?RE/MAX recently published the findings of its 2024 Liveability Report, which assesses the various neighbourhoods that are best-suited to people with a variety of needs, including families with kids. Let’s find out where these neighbourhoods are situated. Winnipeg, ManitobaA notable barrier to entry in the Winnipeg real estate market is that inventory levels have been minimal, meaning that prices are higher compared to years ago. Experts say that if you find a home in the Winnipeg area that satisfies 75 percent of your needs, then it would be preferable to choose that house rather than waiting for a better option.Consider this development in recent years: Much of the demand in Winnipeg and the surrounding area is being driven by big-city lovers with children, suburban families, and move-up buyers.According to new figures from the Winnipeg Regional Real Estate Board (WRREB), the average price of a detached home in Winnipeg is around $433,000. Condo prices have averaged just below $300,000.The best neighbourhoods for big-city lovers with kids:Bridgewater TrailsDevonshire ParkNorth KildonanSage Creek Toronto, OntarioYes, Toronto is one of the world’s most expensive housing markets. Yes, a single-family home is north of $1 million. Yes, Toronto is generally costly across the board. But is buying a home in Toronto proper or in the Greater Toronto Area (GTA) still doable for a typical middle-class family of four? Industry experts assert that the most significant challenge for prospective homebuyers is searching for a want rather than a need.Indeed, searching for a “forever home” in your first journey in the home-buying process is a difficult endeavour. As a result, experts argue that this mindset needs to change. Instead, big-city lovers with kids need to be realistic and work closely with a real estate professional. Whether this means purchasing a condominium rather than a townhome or moving to East York rather than Midtown, realism is paramount.The average selling price for a detached home is about $1.1 million, according to the latest statistics from the Toronto Regional Real Estate Board (TRREB).The best neighbourhoods for big-city lovers with kids:The AnnexCollege and Bathurst Montreal, Quebec Is it time to improve your French? Maybe. Still, Montreal is one of Canada’s most livable and most desirable cities. Additionally, there are several neighbourhoods in the Quebec municipality that appeal to all sorts of living situations, from families to young professionals without children.Surprisingly, home prices in Montreal are modest compared to other cities and the national average. According to data compiled by the Quebec Professional Association of Real Estate Brokers (QPARB)., the median price for a single-family home in the Montreal housing market is about $585,000. The median selling price for a condo is just above $411,000.The best neighbourhoods for big-city lovers with kids:Francois-PerraultOutremontOutremont ParkVilleray-Saint-Michel-Parc-ExtensionMarried with ChildrenRaising a child in Canada costs an average of $17,235 per year for a two-parent household, according to Statistics Canada. Raising two kids could cost middle-income parents more than $500,000, the federal statistics agency noted. In total, Canadian families can expect to spend nearly $300,000 from birth to age 17.In today’s high-cost economic climate, it is not unusual for families to continue supporting adult children.“Generating estimates of the cost of raising a child is complex, and spending on children is highly variable across different types of families,” the report published in September 2023 stated. “An additional challenge is the growing importance of the costs incurred for adult children who live with their parents.”This is why it is imperative to be realistic in your homebuying adventure, choosing a home that suits your needs and your budget. Canada is immense, and the real estate market provides families with a diverse array of communities tailored to your liveability standards.The post Best Canadian Neighbourhoods for Big-City Lovers with Kids appeared first on RE/MAX Canada.

Condominiums can often be a more affordable option than single-family homes, especially when housing prices are skyrocketing or you’re looking to settle in an expensive city. However, before buying a condo, you need to consider that condos usually have a written set of rules. They could mean the difference between finding your dream home and stepping into a costly nightmare.Condo rules are there to ensure everyone’s safety, security, and enjoyment while keeping property values up and the community harmonious. They help manage shared spaces, prevent conflicts, and outline responsibilities so everyone knows what to expect. Understanding the complexity of condo rules and regulations in Ontario can be an arduous task. But knowing and understanding them is important, as they significantly impact your living experience, property value, and overall satisfaction. We look into essential aspects of condo rules and regulations in Toronto so you fully enjoy condo living without any hassles.Governance and Enforceability of Condo RulesCondo rules and regulations in Ontario are governed by a board of directors elected by the unit owners. This board is responsible for managing the condo’s affairs, enforcing rules, and maintaining common areas. The board operates under the Condominium Act, a provincial legislation that sets the framework for condo governance. Can the condo board change rules? Yes, the condo board can change rules, but the process typically involves input and approval from unit owners. Are condo rules enforceable? Absolutely, condo rules are enforceable, and it’s the board’s responsibility to ensure compliance, often with the help of property managers.The Role of the Condominium Act, Bylaws and DeclarationsThe Condominium Act is provincial legislation that sets the legal groundwork for creating and running condo corporations, covering broad rights and responsibilities for owners, boards, and managers. Bylaws are the specific rules created by individual condo corporations to handle everyday operations and unique community needs, such as pet policies and the use of shared spaces like gyms and pools. Declarations outline the division of ownership, detailing the percentage each unit owns in common areas and defining the fundamental structure of the condo. Essentially, the Act provides the overarching legal structure, while bylaws and declarations lay out the specific rules and ownership details that govern daily life in the condo.Common Condo Rules Pet PoliciesMany condos have specific rules regarding pets, ranging from restrictions on the type and size of pets allowed to the number of pets per unit. Some buildings may ban pets entirely, while others may have designated pet-friendly floors or areas. If you are moving in with pets, make sure to review the pet policy.Noise and Nuisance RegulationsLiving close to others means being mindful of noise levels. Condos usually have quiet hours and limits on loud activities to keep things peaceful. Knowing these rules can help you get along with your neighbours and avoid conflicts.Renovation and Alteration GuidelinesIf you plan to renovate your condo to improve energy efficiency, increase storage space, or personalize your living area, you may need permission from the condo management. Condo renovation rules in Toronto often specify permissible hours for construction, noise control measures, and the need for insurance coverage. Significant changes require board approval and may mandate certain types of materials and procedures to ensure your condo renovation ideas do not negatively impact the building or other units.Use of Common AreasRules for common areas like gyms, pools, and lounges are there to ensure everyone can use and enjoy these spaces fairly and that they stay well-maintained. These rules might cover things like how to book the spaces, guest policies, and usage times. Getting to know these rules can help you make the most of the amenities.Parking and StorageParking spaces and storage lockers often have specific condo rules for their use. These rules might cover vehicle type restrictions, maintenance responsibilities, and access protocols for storage spaces. For instance, there may be limitations on the size or type of vehicles allowed, regular upkeep requirements for parking spots, and designated hours for accessing storage areas.Maintenance and Repair ResponsibilitiesGenerally, the condo corporation maintains and repairs common elements, while unit owners are responsible for their individual units. Clarifying these responsibilities can help prevent misunderstandings and ensure timely repairs. For example, the condo corporation might be responsible for fixing and maintaining the HVAC system, while unit owners might need to repair plumbing or electrical issues within their units. For those planning repairs, it is crucial to understand condo renovation rules in Toronto, as they may require approval for significant changes.Leasing and Rental PoliciesIf you plan to lease or rent out your unit, be aware that many condos have specific rules regarding this. There may be restrictions on short-term rentals or requirements for tenant screening.Before buying a condo, thoroughly review the rules and consider how they align with your lifestyle and needs. This will help you make an informed decision and ensure a harmonious living experience in your new home.The Role of Property ManagersProperty managers are professionals hired by the condo board to handle the day-to-day operations and management of the condominium. They serve as the link between the board of directors and the unit owners, making sure everything runs smoothly. Their duties include managing maintenance and repairs, handling administrative tasks, and keeping the condo’s finances in check. Are condo rules enforceable by property managers? Definitely. Property managers play a key role in enforcing the condo rules and regulations set by the board. They keep an eye on compliance, deal with violations, and ensure everyone follows the rules.What Happens If You Break a Condo Association Rule?Breaking condo rules and regulations in Ontario can lead to a series of consequences, starting with an initial warning that informs you of the violation and requests compliance. If you don’t comply, the condo board may impose fines or suspend certain privileges, like access to common amenities. Persistent or serious violations can escalate to legal actions, including mediation, arbitration, or even small claims court, to enforce compliance and seek compensation for any damages. What else happens if you break a condo association rule? It can strain relationships with neighbours and damage your reputation within the community.But what if you feel a rule is unfair or outdated? Can the condo board change rules? Yes, they can. If you think a rule should be changed, you can request a review by presenting your case to the condo board. For example, suppose the current pet policy is too restrictive, and you believe it should allow for larger pets. In that case, you can gather support from other residents, prepare a proposal, and present it at a board meeting. The board will consider the request, and if there is enough support and justification, they may start the process of amending the rule.Buying a condo is a good investment because it offers affordability, convenience, and a sense of community, with the added benefit of shared amenities and maintenance-free living. By understanding and following the condo rules and regulations, you can enjoy a well-maintained, harmonious environment that enhances your lifestyle. For expert help in finding the perfect condo and navigating the process, reach out to a RE/MAX agent today. Our experienced professionals will make sure you find the right fit and have a smooth buying experience.The post Understanding Condo Rules appeared first on RE/MAX Canada.

The average selling price for homes sold in the Ontario real estate market in July was $837,685. With mortgage rates where they are and the applicable taxes, fees, and regulatory costs, prospective homebuyers will endure a hefty final price tag. But when you break it down, how much are you spending per square foot to build a house in Canada’s most populous province?Estimates suggest that a detached home in Ontario can cost between $130 and $400 per square foot. The cost may be higher or lower depending on where the house is being built, such as Sault Ste. Marie or Toronto. Moreover, costs will be weighed by which builder is hired – the labour shortage occurring in this sector of the economy has amplified the costs – and what materials are incorporated into the structure.One more thing: Square-foot cost is typically lower for pre-designed homes than for custom-built ones.Meanwhile, there is also variation in the cost of square feet within Ontario. Indeed, costs are lower in smaller towns and cities but higher in the major urban centres. For example, building a house in the Greater Toronto Area (GTA) can cost you anywhere between $500 and $1,100 per square foot. If you want to build in Ottawa, the cost could be as high as $440 per square foot. Of course, the cost will be lower if you choose a rural area.According to 2023 estimates, the cost-per-square-foot of a home, particularly a single-family home with an unfinished basement, in Toronto can set you back a great deal. The same situation can be applied to a city like Vancouver. That said, if you choose a city like Halifax or Saskatoon, you could pay a much smaller price for a longer property size.Now, building a small townhome could cost around $280 to $320 per square foot. A cottage or log home could cost around $300 to $380 per square foot. Laneway homes typically range between $370 and $420 per square foot.Put simply, you will notice the vast divergence based on locations and home types.The area of a single-family detached house in Ontario is around 1500 square feet on average. Condos in Toronto have an average size of around 840 square feet. If you are building a home in a rural area, sizes are much bigger, but labour and materials are less expensive.As a result, a smaller house in a big city could cost more than a bigger house in a small town.The same is true for labour and material costs. Bigger cities have higher labour costs, and materials cost more. However, labour and materials will likely be cheaper if you are located in a rural community or small town.In addition, there is also variation in square foot cost within the category of custom-built homes. On the lower side, the cost could average around $350 per square foot, but if you have a higher-end home, the cost could quickly go up $950 per square foot. The more complex the design, the higher the cost will be.For example, a one-story home will be much cheaper than a two-story alternative. If you have additional design requirements, material costs will be higher. Labour costs for a simple design are lower, so the entire house will cost much less per square foot.The Lowdown on Soft and Finished CostsIt is vital to remember that the finishing phase can also impact your cost per square foot, in addition to the primary costs of material, labour, and design. Flooring, tiles, countertops, cabinetry, lighting, and a wide array of other features can increase costs.For instance, if you want to add custom cabinetry or have custom closets, desks, or shelving built, this will add to the overall cost per square foot. Many people building high-end homes pay much more because they want to add specialty rooms or spaces, such as an indoor sauna, a wine cellar, or a movie theatre.Homeowners should always understand and account for soft costs other than direct construction costs. These are expenses outside of the construction process. They could consist of various things:PermitsLegal feesArchitectural design and drawing feesEngineering feesOther professional servicesAccording to industry experts, calculating an extra $20 to $50 per square foot for these expenses in your budget would be advisable.In the end, working with a professional and reputable house builder can help you understand your new home’s costs and budget appropriately. Check different locations and compare overall costs. If you are set on building in a big city, learn how to save costs and the strategies you can adopt to stay within your budget. Remember, it would be a prudent decision to work with an experienced team, as that can go a long way in helping you make more informed decisions.The post How Much Per Square Foot to Build a House in Ontario? appeared first on RE/MAX Canada.