Mississauga Legal Services Blog

What You’ll Need To Earn To Afford A Mississauga Home In 2019

Potential homebuyers must pay more to purchase a home in Mississauga in 2019. Average home values rose in all Mississauga neighbourhoods between January and October of 2018. Anyone looking to buy a new house in Mississauga must earn between $10,000 and $37,000 more in salary than they did in 2017 to qualify for the mortgage they need to make the purchase.

Homebuyers also face higher interest rates for borrowing money. Higher home prices and higher interest rates have made Mississauga real estate less affordable.

Thinking About Buying A Home? Read This First.

Deciding to buy a home is a monumental step in anyone’s life. After all, purchasing property often represents one of the largest financial transactions a person will make in their lifetime. So how can you prepare for this major event?

Doing your homework, knowing your options, and getting the right help can go a long way in making the home-buying process as smooth as possible. We’ve outlined a few key steps to get you started.

Accident compensation: Injuries for which victims can sue

No one ever thinks about getting hurt, whether in a vehicle crash or falling on someone's property. But life happens and so do personal injuries. There are injuries for which victims can pursue accident compensation in Canada. Those injured due to the negligence of other parties have every right to be compensated financially, especially if the injuries cause a loss of income. These injuries aren't just relegated to physical ones, but can also include emotional trauma or diseases as well.

Family members can sue for the wrongful death of a loved one, while those who suffer dogs bites (or any pet attacks) can sue the animal's owner. Anyone who slips and falls on another's property may be able to sue, as well as those who have been sexually abused or assaulted. In addition, people who have been arrested falsely or anyone who was in any kind of vehicle crash or who has suffered because of a product may be able to sue. Those with grounds for legal recourse can sue for pain and suffering, medical bills, loss of income and more.

Mississauga real estate prices take a tumble

The average price for a home in Mississauga has fallen more than $167,000 in less than a year. That's good news for purchasers in the real estate game in this burgeoning Ontario city, but may not be so good looking at the overall picture. The Toronto Real Estate Board (TREB) said $631,372 was the average price for all types of real estate in the first month of this year. That is almost a 10 per cent decrease from the same point in 2017.

Detached, single family homes took the hardest price hit with a more than 13 per cent drop. In fact, since last March, the ticket price of a detached home in Mississauga has declined by more than $231,000 or equivalent to more than 18 per cent. Those kinds of declines didn't happen in the condominium/townhouse sector, however.

Brain injury changes the lives of Ontario couple

When a drunk dirt bike driver crashed into a man driving an ATV in 2014, the ATV driver's and the life of his fiance would be forever changed. The woman was actually working as a nurse in the same Ontario hospital the man was brought in and she was the first to see him. He was nearly unrecognizable as his face and head were so swollen. It turns out, he had suffered a traumatic brain injury.

Two months after the crash, the couple married in an Orillia hospital where the man was a patient. Today, he is still climbing back from the life-altering collision, and his wife is his full-time caregiver. Their days are filled with therapy as the man continues to progress in his journey, but what the couple wasn't prepared for was how little the general public knows about brain injury. 

2018 real estate outlook around Canada

After a turbulent few years, the housing market throughout the country looks as though it's stabilizing. With that, experts suggest, will come both opportunities and some things that will need to be braved. The world of real estate in Canada is becoming less about a single market across the country and more about localized dealings. In other words, there is no definitive real estate market in the nation, rather various deals with various attributes in different areas of the country.

There is no comparing what transpires in hotter markets like Vancouver and Toronto with those in Calgary or Regina. It's like comparing apples to oranges.The Canadian Real Estate Association (CREA) said prices around the country are like a roller coaster. For instance, prices are rising in Ottawa while they're declining in Saskatoon. One other major issue that will play a large part in the real estate market in all areas is the federally-imposed stress test that may make home ownership more difficult for some.

Tougher laws on the horizon for Ontario distracted drivers

Soon drivers will have to be even more mindful of what they do behind the wheel of a vehicle. Distracted drivers in Ontario will have to curtail their bad habits behind the wheel if they don't want to be saddled with a maximum fine of up to $2,000 -- up from $1,000 for a first conviction. So, texting and driving will hopefully be even less attractive to many drivers who still make a habit of it.

Not only will drivers likely receive steep fines for distracted driving infractions, but they will also automatically lose their licences if they're convicted of the offense. Second convictions will see maximum fines of $2,000, while three or more convictions could cost drivers up to $3,000. The law will soon receive Royal Assent in Ontario's parliament.

Condo sales lead the pack in Canada real estate transactions

Last year was dubbed the year of the condo in high-end markets. While real estate transactions in general were a little less strong in 2017,  condominium sales continued to thrive in Ontario and in the rest of Canada. In fact, condo sales in Toronto area in 2017 were up 82 per cent from 2016, with a 59 per cent increase overall in the region.

Many urbanites are turning to condos for the lifestyle they provide. They come with party rooms, gyms, swimming pools and often communal gardens. With these added pluses, those in the market don't have the added space worry when looking to purchase. The lock it and leave it mentality has continued to flourish in larger Canadian cities like Toronto, Vancouver and Montreal. Condos also continue to be seductive to the savvy real estate investor.

Drunk driver arrested with alcohol level 4 times over legal limit

A 39-year-old male was arrested after a citizen made a call describing what sounded like someone driving while intoxicated. The alleged drunk driver had a blood alcohol level four times the legal limit in Ontario, according to York Regional Police who charged the man with impaired driving. Apparently, the accused driver was captured on video shot from a police helicopter.

York police recently published their impaired driving stats, showing more drivers got behind the wheel in 2017 while having used drugs. In fact, there was an increase of 21 per cent in driving charges stemming from drug use in 2017 compared to 2016 statistics, and a massive 90 per cent jump from charges in 2015. The police chief said the numbers are alarming, especially given the fact marijuana use becomes legal this summer.

Real estate market resilient in Canada in 2017

The forecast looks good. The real estate market in Canada was a real roller coaster ride in 2017. There were twists and turns; it was ascending and descending. But prognosticators are hopefully optimistic as to what awaits the housing market in 2018.

Some are predicting the full-steam-ahead days have rallied just about as much as they are going to and that a slow-down is impending. But that is not necessarily a negative. In fact, the market has shown and continues to show a great deal of elasticity or bounce back. Toronto is a prime example of that.

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