property Archives - CASTILLO + PARDO

What Buyers Overlook When Purchasing a Property in Toronto: Our Guide to Avoiding Common Pitfalls

Castillo + Pardo — Tue, 22 Apr 2025 16:57:10 +0000

Whether you are purchasing a property in Toronto or buying your first home, there are several key factors that many buyers overlook (which could be costly in the long run!). From parking issues to property boundaries, these details can have a significant impact on the home-buying process. In this article, we’ll dive deep into these often-overlooked aspects, ensuring you’re fully informed before making one of the biggest investments of your life.

1. Parking: What You See May Not Be What You Get

When browsing listings on the Multiple Listing Service (MLS), you might come across a property that states “parking.” However, it’s important to understand what that actually means.

Mutual Driveways: A mutual driveway is shared between two homes, and parking may be agreed upon with a neighbor. However, this is not always a permanent arrangement. If the neighbor moves or decides to end the agreement, you could lose your parking spot. This type of parking isn’t legally guaranteed, so make sure to verify the terms before proceeding.
Front Pad Parking: If the listing mentions a curb cut or a space in the front yard for parking, it’s not always a sure thing. To ensure that parking is legal, check if the address has a registered and active parking permit for that location. Front yard parking permits are tied to the property owner, not the house itself. If the previous owner hasn’t been maintaining the permit, you might find yourself unable to park there despite having a physical spot to park your car.

2. Check for Property Line Issues

Many buyers fall in love with a home’s spacious backyard, only to discover that part of it actually encroaches onto public space. It’s crucial to verify the exact property lines using a survey before making an offer. If a fence or structure has been built outside of the property’s boundaries, it could cause major headaches down the road. For example, if the backyard is being used for a pool or other large structures, the city might not allow construction if it’s on public land. Make sure to confirm with a licensed land surveyor.

3. Zoning and Restrictions: Know Before You Build

Before buying a property, especially if you plan to make improvements like adding a pool or building a deck, it’s essential to check local zoning laws and property restrictions. For example:
Environmental Concerns: Properties located near ravines or other protected areas may have restrictions on what you can build due to environmental preservation rules.

Heritage Protection: Some properties, particularly those near archaeological sites, are subject to strict building codes, and you might not be able to build in certain areas of the property.

4. Local Developments: What’s Happening Around You?

New developments in the area can impact the value and enjoyment of your property. For example:

Transit Lines and Construction: If a property is located near new transit lines or infrastructure projects like the Ontario Line, it could be subject to future construction noise, vibration, or limited access. Be sure to research upcoming developments and check with the city or relevant agencies to understand how they may affect your property.
Train Tracks and Noise: Proximity to train tracks is another factor that many buyers overlook. While some properties may be near GO train lines, others might be close to freight lines, which run 24/7 and can produce significant noise and vibrations. Make sure to evaluate how much noise you’ll be dealing with before making a decision.

5. Noise and Vibration from Public Transportation

Many buyers don’t realize the extent of noise or vibrations they might experience when living near a subway line or major transit route. To get a real feel for the property, spend a little extra time at the house and test out the sound levels. Especially if the subway line is nearby. Over time, this could impact your living experience and even the long-term value of the property.

6. Verify Permits and Legal Structures

Before purchasing your property, it’s crucial to ensure that all structures on the property are legal and permitted. If you notice a deck, fence, or other structure that looks unusual compared to the surrounding properties, check to ensure that the necessary permits were pulled. Without proper permits, you could face legal challenges or fines if you ever need to make changes or plan on doing future renovations.

7. The Importance of Surveys and Property History

Surveys are essential tools that provide an accurate picture of the property boundaries, location of structures, and potential encroachments. Always ask for a recent survey of the property and take the time to verify the accuracy of the information. It’s also wise to investigate the property’s history to uncover any past issues that could affect your investment.

The key takeaway? Stay informed before you buy!

Buying a home is an exciting journey, but it’s important to do your homework before committing. As we highlighted in this article, parking arrangements and property boundaries to zoning laws and local developments can be a few factors that can affect your property’s value and your overall experience. By staying vigilant and seeking professional guidance, you can avoid these common pitfalls and ensure that you’re making a sound investment in Toronto’s competitive real estate market.

If you’re thinking about buying a property in Toronto, make sure to ask the right questions and research thoroughly. Your dream home might be closer than you think, but understanding the details will make all the difference.

Need help buying your first property? Contact us! We’re here to give you an authentic real estate experience.

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4 Home Renovations to Prioritize This Spring

Castillo + Pardo — Thu, 13 Apr 2023 14:45:17 +0000

We just went through a pretty extensive renovation of a part of our home and oh boy! Can you learn from this process! We know what it feels to go from inception to the final result and in our personal experience it is very important that when considering renovations to your home, YOU go through the following self -“screening” questions, to ensure a positive outcome (and a happy family):

Are the home renovations I plan to do truly necessary?
Can minor upgrades improve the use of space or enhance the use of space?
Have I quoted with 2 or more contractors the work that needs to be completed?
Will the property (type and location) support the investment the project entails?
If planning to stay home while the property´s renovation process, have I assessed the impact it´ll have on my everyday life and my family´s health?
If not, have I budgeted for alternate accommodations during the renovation process and accounted for any possible delays?

If you have already made up your mind and you’re ready to “take the [renovation] bull by the horns” as a good friend of ours used to say, the following 4 improvements can be prioritized.

1. Finishing your basement: It is a fact that there are unfinished basements that can be used and lived in “as-is” condition. However, it is also a fact that most of the time an unfinished basement can create issues down the road, and you will want to identify and deal with these sooner, rather than later. By finishing your basement you are not only increasing the liveable space in your home without affecting the lot coverage of the property, but you are also making your home more appealing for when the time to sell comes. The differences between a property with a finished basement vs. one with an unfinished one, can have a significant impact on your home’s value.

2. Upgrading/fully renovating kitchen and bathrooms: Having a functional kitchen with updated appliances, storage space and good lighting adds value. Same goes for having a bathroom with improved functionality, upgraded fixtures, a better bathtub/enclosed shower and improved ventilation. The level of renovation will depend on the quality and age of the most recent update. Be mindful that sometimes you might not need the full home renovations. Minor hacks can help you improve the look and feel of these areas greatly, when done correctly.

3. Tuning up/Changing the roof: As houses age, it’s important to keep an eye out for the wear and tear that they can experience, especially in high exposure areas like your home’s roof. This is particularly important in locations with extreme weather conditions like the ones we experience. Super low winter temperatures combined with shifting weather, where cycles of ice, snow, hail and rain are common, will surely put your roof shingles to the test! Make sure to inspect your roof once a year and address any current or potential issues proactively.

4. Updating the flooring: Newer or upgraded flooring can help increase not only the aesthetics of your home, but also its value. Make sure to focus on the quality of the materials and its installation. If possible, go with a look that is timeless and/or that speaks to the architectural style of the property.

While the true Return on Investment (ROI) of these changes is hard to measure, we know they have the highest impact in the perception of a buyer if/when you decide to sell your home, and therefore can help reduce the time of the sale and improve your odds at attracting more buyers.

For a full list of the renovations that can return the best value, contact us and we’ll provide you with our in-depth guide. This list also includes ‘hacks’ that do not imply a full renovation, but that can significantly help you make your home look updated without incurring in higher costs. Follow us on social media to stay updated on all things Toronto real estate.

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Garden Suites are now permitted in Toronto!

Castillo + Pardo — Thu, 28 Jul 2022 21:16:28 +0000

The City of Toronto Garden Suites By-law is now in full force and this will now allow a greater variety in the type and form of housing that can be built as part of the City’s Expanding Housing Options in Neighbourhoods (EHON) program focused on missing middle housing and gentle intensification. Garden suites are not only a solution to increase housing choice for current and future residents, but can also provide help to homeowners to offset mortgage payments on their primary residences.

If a proposed garden suite meets various performance criteria, such as maximum building height and setbacks, as well as all applicable bylaw standards, only a building permit application is required.

Any garden suite proposal that does not meet the Zoning By-law requirements can seek a minor variance application at the Committee of Adjustment. Through that process, City Planning staff review the application to determine if the proposed variances are appropriate and meet the intent of the Official Plan policies and the Zoning By-law.

You are encouraged to check out the City of Toronto Garden Suites By-law to learn about the rules, regulations and key considerations in order if you wish to consider adding a garden suite to your primary residence.

Images by Lanescape

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Toronto Market Report – Feb 2022

Claudia Pardo — Fri, 25 Mar 2022 17:38:32 +0000

TAKING A PULSE OF THE MARKET: OUR TORONTO MARKET REPORT FOR FEBRUARY 2022

The Toronto Real Estate Market continues its trend. We have compiled the most recent numbers for the City of Toronto. These are not statistics for the whole GTA so if you’d like to know the numbers for your specific location outside the M postal code districts, please reach out here, or follow our social media. We’ll be happy to provide you with information. Read on for more details on the Toronto Market Report for Feb 2022.

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The secret to selling a home : Staging & Design

Castillo + Pardo — Thu, 22 Aug 2019 15:52:27 +0000

The secret to selling a home: Staging & Design

We believe that home staging is incredibly important to creating the most value and end result in the sale of our client’s homes. Over the years, we have seen property values and end sale prices go up based on how the homes were presented during the selling process. Wouldn’t you want to buy a property if it was beautifully designed and you could actually picture yourself living there from the minute you walked in? The answer is unanimously and always; yes.

It is important to know that staging goes beyond placing furniture, it often involves interior design, minor maintenance to the property, proper lighting, landscaping, painting, among other things. For us, it is part of our responsibility as agents to assess the property and make the best recommendations possible that enable the properties to shine – this process is crucial to creating the best results for our clients! You might think this is too overwhelming, where do you even start? Don’t worry, that’s why we take care of all this for you.

Example of homes we recently staged (and sold) for our clients:

Here are the top 5 reasons why we work with a professional stager for all our client’s sales :

When the home is staged, it means that all rooms are carefully designed to create an emotional connection with the potential buyer. People can walk in and see themselves living in the space and imagine their day to day. They can immediately feel at home and there is much less translation and work to be done to close a sale.
Buyers can visualize what the space can look like for them. They can imagine their own furniture in the space and make a calculation of their own valuables and how these will fit in.
Enables the property photographs, video and virtual tour that we do to be incredibly inviting for potential buyers and attracts a lot more interest for visits and open houses.
Having a staged home enhances the market’s perception of the property’s value and can lead to higher offers.
It can generate more interested buyers generating multiple offers which usually translates into the best end sale price for the seller – many times going for higher than the most recent sale of a similar property in the building or neighbourhood.

All and all, home staging is key – the only downside (which is not really a downside) is that our clients sometimes love the home staging so much, they wonder why they are leaving when the space looks and feels so good! This is also something we can help with for our client’s new homes too!

Claudia + Jose

Have any questions to ask us? Contact Claudia & Jose

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Is it the right time to sell my property?

Castillo + Pardo — Thu, 22 Aug 2019 13:57:40 +0000

Is it the right time to sell my property?

More often than not our clients come to us wanting to sell a property. Any “salesperson” would love to just say “yes!” and convert that sale into a juicy commission. But for us, our priority is being engaged in protecting the best interests of our clients, before anything else! Sometimes selling is actually not the best idea or the right timing after all.

Our first reaction instead is to ask WHY? And again, more often than not, we see that expression of bewilderment on our clients’ face trying to find an answer to this short word. The truth behind their intention can have many reasons: they might think the market is hot and they can just cash out and use the proceeds of the sale – or whatever equity they might have gained – and just spend it; or they actually might think the market is going to crash and they MUST get out right now, move away and never come back, otherwise they will lose everything they’ve built up in the past years. Others have more personal reasons like wanting to “right-size”. Some are thinking about having kids and they currently live at a small place so need more space to accommodate the growing family, or the opposite, others have already done all this and now feel like they’d feel more comfortable with living in a smaller space and not having to worry about maintaining or up-keeping a larger home.

Once we’ve been able to understand and establish the motive behind our client’s interest in selling (or buying if that’s the case as sometimes the sale might also trigger a purchase) then we can provide them with a range of options that allows them to think further about their next step. Is selling really the right decision after all?

Some people have been predicting a bubble for at least the past 8 years in Toronto and yes, we understand, the signs were (are) there, the value of properties was going too high too fast, salaries have not increased at the same pace, it seemed like there was not enough demand to absorb the growing value, foreign people with lots of buying power were apparently driving prices up and the news, by not being as objective or doing proper research, showed the whole city was a ticking bomb, just waiting for that final second to bust the economy.

And yet, those who didn’t purchase anything in, just as a reference, 2012 – when the market seemed to adjust and prices started to fall slightly for a brief period, because of the new mortgage rules introduced in July that year – have seen a bachelor unit – just to name a type of property which serves as an entry point to the market for many – go from $180,000 to above 80% its price or almost doubling it in 2018-2019 *1. We don’t judge them, nor we blame them, we just think some people lacked having the right advisor on their side.

In the end, it’s not about just buying any property, it’s about buying the right property, and for this you need insight and knowledge, you need to also trust the source of advice. Some might even call it luck, just because they don’t want to be proven wrong. *2

So, let’s dive into it and see what your options are:

1. Selling your property:

Under this scenario, you will sell your property and use the proceeds of the sale for 1) Buying another property, 2) Investing in other markets (not necessarily real estate) or, 3) Providing your kids with some funds for them to buy real estate, among other possibilities. If you’re selling make sure you’re properly advised and follow the right steps:

Ask for a Comparative Market Analysis (CMA) that provides you with an idea of the market value of your property, not just a general idea of price.

Ask for explanations about how the sale process will unfold and how your day- to-day life will be affected.
Make sure a timeline is provided so you know what to expect.
Ask for information about the fees involved and what those fees include or not.

2. Converting your home into an income property:

That means that you don’t sell it but instead you use any equity in it to buy another property and you put your current home for lease.

Make sure to talk to your mortgage broker in order to confirm how much equity your property has generated since you bought it, to the eyes of the bank; how this equity can be used for the new purchase and how your monthly payments (cashflow) will be affected.
Make sure to confirm with your Realtor how much rent you can get for your current home so you can run your numbers accordingly.
Talk to your accountant to confirm how your income tax will be affected based on the new income and the fact that, when you decide to sell this property in the future, there will be a capital gain tax due on it after the date it’s not your principal residence any more.

3. Use the equity or a High Equity Line of Credit attached to your mortgage (if you have access to one) to make any changes/extensions that are possible to your current home:

Renovations can include among others:

Updating bathrooms/kitchen or any other interior areas that are worth renovating.
Improving critical systems in the property such as heating and cooling equipment or address structural issues in roofs or walls, or even waterproofing the basement.
If you have a basement with a separate entrance or walk-out, that you’re currently using as part of your home, look into the possibility of converting it into a rental unit for either long-term or short-term. Make sure to obtain proper advice on short-term rentals as rules for them in Toronto are still not completely defined and pending the results of a hearing scheduled for August 26th, 2019. Find more information in this link.
As of August 2018, the city of Toronto has allowed the construction of laneway suites in Toronto subject to some criteria. If your property fits the profile, you might want to consider building a laneway home and convert it into an income generating property or use it to host a family member. For more information and updates about laneway housing regulation, please visit this link.

Make sure to get the right advice when deciding if a renovation is the way to go. Anticipate and know what your life is going to look like while renovations take place, if you continue living at the property or if you need to move to another place in the meantime. Factor in all the possible expenses and compare it to the possible income you will receive to confirm that you’ll get the best return.

4. Use your equity to buy a second home:

Consider this option if you’re looking to have another home for recreational purposes and if you can afford to pay for it, its mortgage and any additional expenses that are attached to it (maintenance fees – if any, upkeep, property taxes, Etc.)

In the end, sometimes what we think may be the right decision, might be worth looking at in a different way. As Real Estate experts, we love to advise our clients towards making the very decisions for them and their families. Perhaps in your case it’s time to sell, and perhaps it’s not – depending on the circumstances. We hope our guide can help you to navigate towards your decision. Should you need any further recommendations, feel free to reach out to us directly and we would be happy to help.

Claudia & Jose

Have any questions to ask us? Contact Claudia & Jose

* 1. Some examples include: 1. 529-600 Fleet St (Sold in 2012 for $189,500 and sold in 2018 for $355,000); 2. 509 – 705 King St W (Sold in 2012 for $200,500 and sold in 2018 for $389,000); 3. 306 – 319 Carlaw Ave (Sold in 2012 for $265,000 and sold in 2018 for $502,000); 4. 706 – 319 Carlaw Ave (Sold in 2012 for $271,500 and sold in 2019 for $521,000). Some of these included minor renovations, others, no renovations at all.

* 2 Attention! This is catered to people who have considered Real Estate as an investment option. We understand some might have a better use of their money in other investment vehicles or might even find some important tax breaks in not owning real estate, but since not everyone has access to other levels and opportunities of investment, we want to make sure you have the right information at hand if you’ve ever considered real estate as an option.

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