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Ontario Real Estate and COVID-19: New Rules In Effect

For those transacting in the Ontario real estate market right now, you may be wondering what’s allowed and more importantly, what’s not allowed, under the new “stay-at-home” order that took effect this morning. To help clarify things from a real estate perspective here’s what home buyers and sellers need to know.

Why were the new rules imposed?

The new rules aim to reduce mobility and curb the spread of COVID-19. As the number of positive cases continues to rise in Ontario, Premier Doug Ford declared a second State of Emergency in the province earlier this week, imposing tighter restrictions on businesses and gatherings, a “stay-at-home order,” and enhanced enforcement measures. The move was prompted by new modelling data released by Ontario’s COVID-19 advisory panel, which came with a dire warning: “Without significant reductions in contacts, the health system will be overwhelmed and mortality will exceed the first wave totals before a vaccine has time to take effect.”

The new measures are in effect for all of Ontario and are expected to remain in place until at least Thursday, February 11, 2021.


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Old House Vs. New House: Which Is Better To Buy In Toronto?

Toronto

One of the most common questions home buyers tackle before heading out to look for their dream home is whether or not they want something old, or something new. In Toronto especially, this question is important. You will want to let your realtor know what you’re looking for ahead of time because things like budget, area, and style of home all depend on whether or not the house is new or old. Toronto is a well-established housing market, so it takes some know-how to find either old or new homes!

Buying new rather than old, or vice versa, all comes down to personal preference and budget. Here’s what you need to know:


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