Did you know that the Ontario government recently passed legislation to regulate the home inspection industry? Appropriately titled the Home Inspection Act 2017, the act introduces basic regulatory standards for various areas of the home inspection industry (such as training, licensing, contracts and reports, etc.). This is welcome news for future homeowners: such regulation will allow buyers to seek knowledgeable, professional home inspectors with the skills necessary to provide accurate inspections.
Though the passing of the Home Inspection Act is undeniably interesting, the recent announcement from IN8 Developments Inc. may have more of your attention. IN8—the same developer behind the controversial Capitol Condos project—recently announced a second project: the Sage Prestige luxury condominiums. Located between Victoria and Nelson Street, the 10-storey tall building would contain 327 residential units with commercial space on the ground level. However, as with the Capitol Condos, many local residents are unhappy with the proposed building. We’re confident that (regardless of the outcome) you’re going to be hearing a lot more about the Sage Prestige in the near future.
Finally, if you’re interested in buying a home in the near future, you’re probably aware that housing prices in Kingston rose by 9.9% in the first quarter of 2017, in comparison with last year’s figures. Your first home is now likely to cost around $333, 624. Should Kingstonians be concerned? On the contrary, it appears that our housing market’s steady growth, recent development, and sound economy are all positive signs for the future of our city. Kingston is likely to benefit further from Toronto’s soaring housing prices: more highly skilled and educated families are being drawn towards our city’s reasonable housing market and strong job prospects.
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