September Market Recap: “GTA Market is Stabilizing at Last.” If you haven’t checked out our latest market report, click here!
What’s On in Toronto This Month.
Summer may be over, but that doesn’t mean Torontonians have to go into full-on hibernation mode just yet. There’s plenty of can’t-miss events in the city for you to enjoy this month.
What better way to celebrate Canada’s 150th than to enjoy our country’s iconic dish, poutine? Check out Smoke’s Poutinerie World Poutine Eating Championship on Oct. 14 at Yonge-Dundas Square. Admission is free – and, says the organizer, so is the poutine. More: Smoke’s Poutinerie World Poutine Eating Championship
Do you love art, pancakes, and, well, beverages? Now you can enjoy all three by checking out The Pancakes & Booze Art Show at the Opera House on Oct. 14. The unique event brings together more than 80 artists, free pancakes and, of course, adult beverages. More: The Pancakes & Booze Art Show
Dine out for a worthy cause on Oct. 18. Seventy-five restaurants in 15 cities across Canada will participate in Restaurants for Change. In Toronto, eight restaurants have signed on to donate proceeds from their dinner service to support healthy food programs across the country. More: Restaurants for Change
Close off the month by checking out “the most prestigious ballet gala in the world!” The Canada All Star Ballet Gala 2017 will take place at the Sony Centre for Performing Arts on Oct. 28. You’ll see breathtaking performances by premier dancers from seven countries, including Russia, Italy, and France, plus our own National Ballet of Canada. More: Canada All Star Ballet Gala 2017
CN Tower: No. 11 of 50 Hottest World Landmarks
Whether it’s breaking through a cloud of fog, lighting up the night sky or serving as a prop on a 2016 album cover for the rapper Drake, the CN Tower is iconic. Now it’s also #11.
According to a report from the travel company On the Go Tours, the city’s famous tower has been ranked the 11th most popular landmark in the world – at least when it comes to data from the social media platform Instagram.
To determine the ranking, the tour company identified 50 of the most prominent landmarks from around the world, then checked to see how many times the names of those sites appeared as hashtags on Instagram. They found that #CNTower was used 777,791 times during the period the study was conducted.
It’s in good company. Other top landmarks include the Eiffel Tower in Paris, Big Ben in London and the Statue of Liberty in New York City. It’s the only Canadian landmark that made the top 50.
Soaring 553.33 metres (or 1,815 ft. 5 in.) into the sky, the CN Tower is an architectural marvel. Built in 1976, the tower held the distinction of being the World’s Tallest Tower from the day it opened to January 2010, when it was overtaken by the 829.8 m.-tall (2,722 ft.) Burj Khalifa in Dubai.
Our tower has also been named one of the “Seven Wonders of the Modern World” by the American Society of Civil Engineers. So it’s not surprising that some 1.5 million visitors flock to the tower annually. That’s a lot of selfies – and a lot of Instagram views.
Wait and Save: We Still Believe in Homeownership
Do you dream of owning a home someday? If so, you’re not alone. The desire to put down roots and invest in a home is a common one.
And this dream is still strong across North America. The problem is, many can’t afford it.
To many, the dream seems elusive as a result of the significant cost not just of purchasing a home but also in carrying it. Many who would like to and can pursue the dream never will due to fears associated with the lack of affordability (“Will I be in over my head?” “Will I lose money?”).
Affordability is a concern
According to the RBC 2017 Home Ownership Poll, 80% of Canadians believe homeownership is a good investment.
However, only 25% plan to purchase a home this year. Why the discrepancy? Considering the average Canadian home price has climbed over the $500,000 mark, it’s understandable why many won’t find home-buying affordable just yet. And “yet” is the keyword. For many, their plans to own a home someday have not changed. They’re simply delayed. For example, nearly 40% of Canadian millennials plan to buy a home in the next two years.
As some Canadians put their home-buying plans on hold, they cite three main reasons for the delay. More than half of those participating in the RBC poll believe that housing prices may come down. Others are uncertain about the state of the economy and also express concern that carrying costs continue to increase.
How are they dealing with it? As RBC vice president Nicole Wells suggests: “For many Canadians, buying a home is a financial and personal milestone – often the biggest investment one will make.
“In today’s market, the best advice is to start with understanding exactly how much you can afford and focus on your wants and needs ahead of starting the house hunt. … Knowledge and education are key.”
Ask an Expert a.k.a. Us!
Which is better, a new house or an older one?
When choosing between purchasing a newly built home and an older one, know that there isn’t a “right” or “wrong” answer. Choosing new or old may be more about understanding what you want. Here are some points to consider.
Older homes tend to be closer to downtown amenities, like restaurants and entertainment. They’re usually in established neighbourhoods with mature trees and large backyards. But older houses can be expensive to maintain and may have small rooms with little storage space.
Newer homes typically offer larger rooms, trendy finishes and usually require less maintenance. But new builds are often farther away from the excitement of downtown living. Commuting may also take longer and cost more.
Your real estate agent can help, but it comes down to one thing: Old or new, the home that feels right for your family is the one to buy.