Toronto Development Signs
Have you noticed these signs on your neighbourhood? These are mandatory signs from the City of Toronto posted to inform the public about a possible future development. The next time you see this, read through it because it might impact the VALUE of your property!
Renting in Toronto
Establishing Credit and Building Scores
If you are thinking about getting a place to rent, it is extremely important to understand your credit score. It is normally very difficult to attain a line a credit or a loan
without establishing a credit profile. For those who have no credit or limited credit to get a credit card or a loan, they can find themselves paying much higher interest rates due to their higher risk of default.How do you increase your credit rating?
Apply for a credit card from a retailer: Retail credit cards are usually easier to obtain than other form of credit cards due to the higher form of interest rate and low limit. If an once you do get approved for a card, make sure you pay off your monthly balance monthly and ON TIME!
Become an authorized user: This will not help build your credit score but it would help getting use to the idea of using a credit card. I hear this quite often, users are afraid of using a credit card.
Apply for a secure credit card: The individual will be required to provide a deposit that will serve as collateral on their accounts credit line. Card issuers will report your account activity and payment history to the credit bureaus, so be sure to keep your balances low and make timely payments.
Sign up for services which has monthly reoccurring bills: Some companies actually report back to the credit bureaus regarding your payment history.
Michael John Lau
Sales Representative
Hummingbird Real Estate
326 Major Mackenzie Dr E
Come join me for an open house July 30th 2-5pm. Reply below if you would like to come!
Downtown Toronto Relief Line
The long awaited proposal to build a new subway line towards Toronto's downtown core has got a vote of support on Wednesday June 1, 2016. The Ontario's Liberal government announced it would spend $150 million on planning and design work for the TTC's downtown relief line which would connect Downtown Toronto with the Line 2 subway east of the Don River. The proposed relief line would start from Pape station south to Gerrard St E, to Queen and Pape, to King and Sumach, to Queen and Sherbourne, to Queen Station.
Expropriation will most likely be required in order for this project to be completed. Early this week, the TTC has already begun sending out notices to 20 people warning them that the city may need to expropriate their properties in order to extend the scarborough subway extension.
It is estimated that the project would take approximately 13 years to build. I have noted that East York will be the next big spot in Toronto! This would help build my case.