This week on the REAL Collective Podcast, Sean Tasse (Broker) and Kyle Miller (Mortgage Agent) discuss recent changes to Ottawa's development fees on new homes. They explain how these fees can impact those purchasing new homes, and what you can do to avoid an unexpected increase to the purchase price of your home at closing.
In the second half they get into story time. Kyle shares details on a recent refinancing deal in which he saved his client $897/month in cash flow. Sean shares a story about a recent waterfront property that his team sold and how an appraisal can be a powerful tool when determining property value.
If you are considering buying, selling, investing, or refinancing, don't miss out on another extremely valuable episode of the REAL Collective Podcast. Keep it REAL Collective!
To access our Complimentary Resources (SOLD Price Search, Seller Guide, Buyer Guide & Home Evaluation) visit: https://realcollective.ca/exclusive-resources/
Are you buying or selling? Book a meeting with Sean or Kyle today!
Sean: https://calendly.com/seanrealcollective
Kyle: https://calendly.com/kmmortgage/phone-connect
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Intro (0:00)
City of Ottawa – Changes Development Fees for New Homes (4:49)
A look at the million-dollar house – the cost of development (6:55)
The By-law stops May 22nd – development fees are increasing (11:26)
Builder APS – review to see if there is a cap on Development Fees. (12:10)
What about affordability? (13:00)
The complexity of the system (14:20)
How do you marry a capitalist and socialist philosophy? (15:55)
REAL Collective Marketing (17:55)
Second half (18:28)
Big win for Kyle’s client - $897 a month savings in cash flow! (18:48)
The question is – can I live without it? (22:07)
Client bought a new build house last week – no cap on dev fees (24:16)
Listing story about a waterfront acreage we recently sold (24:38)
The power of an appraisal (27:06)
Outro (30:05)
