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Delightful December

A New Year is Upon Us!

Happy Holidays and a joyous New Year to you and yours, from all of us at EXP Ossington. Here’s hoping we all have a safe, happy holiday, and can start this new life chapter of ‘post-covid’ soon. Cheers to a healthy and prosperous year ahead!

-EXP Ossington Team


Market Snapshot - November 2021


Thinking about Renovating?

There are a number of factors to consider before you even start!

  1. Timeline: Things always take longer take longer you expect! Plan accordingly for accommodation and expense.

  2. Expect surprises: Unless it's a new build there will be things you uncover that you were not expecting.

  3. Plan to go over budget: Unfortunately this is inevitable and things will always cost more than you thought.

  4. Consider hiring a project manager: Having someone experienced will help you save big money in the long run.


Introducing Lilly Russner

Lilly has an abundant passion for learning ‘How To Live Your Best Life’. She surrounds herself with talented people; which inspired her love for instruments and music production at a very young age. Her love of atmospheric and influential sound expanded as she explored and connected with like-minded creatives to achieve projects, leading her to become a powerhouse DJ in the Toronto music community.

She is just as passionate in real estate; her business is her mission and a movement. Growing up in such a diverse city like Toronto, Lilly has developed an eclectic taste and love for unique culture. Flipping and renovating properties is one of the joys of her new real estate career, and she loves working with her hands. Her upbringing in Brazil with a family of carpenters, helps her vision and inspiration to naturally flow through her.

Her objective is to connect with like-minded investors to create unique designs, offering clients a new, exciting living experience and lifestyle. Since she began her journey in real estate in 2020, she’s been eager to bring to life people’s desires and visions into a perfect home sweet home.

Lilly speaks fluent Portuguese; in her free time, she loves reading books, traveling, singing, DJing, playing sports, as well as connecting with people, animals and nature. She truly values new positive experiences!


2022 Eco Subsides for Renovations

If you are considering renovating your house in the New Year there are a few tax credits that could be useful for you from the Federal and Provincial government.

Federal House Renovation Tax Credit

Federal Roofing Tax Credit - Canada Greener Homes Grant

The Canada Greener Homes Grant allows homeowners the opportunity to receive financial support from the government to make their homes energy-efficient. Eligible homeowners in Canada can choose from a variety of options, but this grant will cap out at $5,600 per home, or $40,000 for deep retrofits in 2021 and 2022.

Substantial Renovation Tax Rebate

The federal government can give you a rebate on part of your tax if you buy a new home, if you build a new home, or—and this is what we’re interested in—if you do “substantial renovations”. To qualify as “substantial”, these renovations must transform a substantial portion of your home (90% or more). The calculation of this percentage is subject to numerous conditions. For example, only living spaces may be considered; garages and crawl spaces are excluded. Renovating the basement alone would not be considered a substantial renovation. Note that the work must be performed on a property that is your usual place of residence or that of a relative.

Home Accessibility Expenses Tax Credit

People with disabilities and those over the age of 65 can claim a deduction on their annual income tax return for certain renovations. These must be done in their primary residence to improve accessibility and safety, for example to get around better or to perform everyday tasks more easily. Materials, fixtures, plans and permits, and professional labour are eligible expenses, up to a maximum of $10,000. Keep your receipts and talk to your accountant.

House Renovation Tax Credit in Ontario

In Ontario, seniors age 65 and over or those living with family members over the age of 65 can claim a tax credit for some types of work on their homes.The work must help a person to live in their home safely and offer greater autonomy. For example, installing a ramp or stair lift could be considered an eligible expense. This tax credit is worth 25% of up to $10,000 in eligible expenses. In other words, the maximum credit is $2,500.


Introducing Ruth Elias

Ruth is a co-op student in grade eleven looking to broaden her opportunities in real estate. She joined the office in October of 2021 and manages the EXP Ossington office TikTok. In her free time she likes to occupy herself with writing, reading and occasionally playing the piano. Ruth also has a soft spot for kittens.


What’s a HELOC & Why is it Useful?

Perhaps you’ve heard the term from your friends or family that own homes, something you’ve read piqued your interest, or maybe you thought it was a Harry Potter spell! Whatever the case, a HELCO is sort of like a spell for borrowing your own money via equity, and can give you a lot more freedom when it comes to improving or updating your home. A Home Equity Line Of Credit is a way to access a loan based on the appraised value of your home minus what you owe on your mortgage. Here’s an example from;

“[...if you own a home valued at $400,000 and still owe $300,000 on your first mortgage, then your home equity stands at $100,000, Home’s market value: $400,000, 85% of home’s value: $340,000, Minus mortgage balance: $340,000 – $300,000, Potential line of credit: $40,000...]”

Why would you want to consider this? Well, a HELOC is just one option for personal loans people use for home improvement, repairs, upgrades, renovation, or any number of things. Some other loan options include; home equity loan (sounds similar but has significant differences), a risky personal loan, or a complete cash-out refinance (which could have high hidden fees). These all have advantages and disadvantages to take into consideration when choosing the best option for you. The main advantage of choosing a HELOC is the fact that you can take out as much or as little as you need during the withdrawal period, allowing you to have a little more flexibility in each direction. As with anything, there is a downside; using your home as collateral means you have to be diligent with your payments, or you could risk losing your house altogether.

Since so many different options exist to best fit into different situations, your best bet is to find a great Mortgage or Loan Broker - if you’ve used a real estate agent in the past or plan to sell in the near future, you can reach out to them/us for a contact anytime. We’re always happy to share great people with you!


Planning Renovations Sustainably

When remodelling your house it is important to look into the biggest contributors to your carbon footprint, choosing sustainable substitutes for materials and appliances, and bigger projects, like installing solar panels or air sealing.

The biggest problems when remodelling you house is the carbon footprint of the renovations. The biggest greenhouse gas emitters are material waste, heat, and electricity. There are some ways you can reduce your impact during a remodel.

  1. Reducing material waste is one way of making remodelling projects more sustainable. During a renovation typically there is a demolition phase when you either gut a room or simply change your appliances and furniture. Finding ways to redirect this waste from landfills to places like Habitat for Humanity, community swapping groups or organizations looking for donations.

  2. Electricity and heat is a large area for consumption. To reduce your impact you should get a home energy audit to analyze what is making your house lose energy. Another option is replacing your HVAC system and considering other options like a geothermal HVAC system. For electricity an easy way to reduce your footprint is replacing products with more efficient versions.

When remodelling you are probably going to replace several things so why not replace your old windows for double pane, energy efficient windows that insulate and reduce heat loss. There are many sustainable alternatives for appliances, paints, lights, and more that would make a big impact when added up. These are little projects you can do to make a difference, but what about some larger projects around the house. One option is installing solar panels or remodelling the layout to use passive solar design. Another popular option is creating a climate friendly yard made of native plants that use less water and are good for the local ecosystems. Whatever you choose to do the most important thing is doing your research and making the first step.


Carl's Corner Office

We’ve been so honoured from our friends, clients, and new contacts to have been tasked with mandates all year that this holiday season we want to give back as much as we can.

As someone who was without a home or family for much of my youth, and who have found a new family with my coworkers and ‘clients’ for whom I work and serve: I have a special place in my heart for those who haven’t yet found their place both physical and emotional.

Please help me support Covenant House in Toronto and Donate online or by phone at 1-800-350-9039 to Covenant House Today. Let Youth Know You Give a ... this holiday season if you can spare any resources. Personally I’ve chosen to give monthly so they have more of a dependable budget. I know how hard it can be when celebrating just isn’t possible.

Please reach out to us should you need anything, if you have any ideas how we could help right in our neighbourhood, or just to connect in these lonely days of the pandemic. It would be an honour to help.

Sincerely, Carl

-Carl Laudan, REALTOR®, EXP Ossington Office Manager


Work with Us

Who are we? We're a tight-knit, high-producing, professional Real Estate team. Our mission is to help our clients achieve their real estate and future-planning goals by empowering them with team-oriented work, sharing of knowledge, and building on our collective successes. We work hard, we set high goals and standards, and we play hard!


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1878A Keele Street


3 Bedrooms | 4 Bathrooms

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