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Why Invest in Real Estate in Innisfil

A small town roughly 60 km north of Toronto is set to become home to a futuristic city called the Orbit. Orbit is expected to consist of Go Station, New condos, townhouses and Single homes to accommodate the population growth.

The town of Innisfil is widely known for cottages, farms and the Lake Simcoe shoreline — but that's all going to change in the near future.

Around the area of the 6th Line and east of 20th Sideroad, at the heart of the region, Innisfil will become the perfect balance of urban living while still maintaining its natural and agricultural lands. 

Investing in reconstruction homes in Innisfil can be a good choice for many homebuyers who are priced out in expensive cities like Toronto, North York, Mississauga.

Why buy a new home in Innisfil? Are new condos and townhomes coming to Innisfil?

The construction of new condos, townhomes and single homes is expected to be commenced in the next couple of years once the proposed plan is approved and gets the green signal. This creation of new homes such as condos can be beneficial to first time home buyers who want to live on the outskirts of Toronto but connected to the city.

ORBIT - The master plan for The Orbit, drafted by PARTISANS, outlines a  proposal to establish a new city of up to 150,000 people, according to Urban Toronto.

The plan centres around a new GO Station set to be built in the area within the next few years. The station will provide faster, more accessible transit for those who live in the region, but the town of Innisfil intends to take it far beyond that. A four-tower mixed-use development would be built over top of the station, with connections from street level and through the buildings. 

Apart from being called the City of the future, the population of Innisfil is growing fast. Town is preparing for this growth by building cutting edge town planning, hence contributing to the benefit of urban living within the current community.

Building new Go Station

The Ontario government has created a ministerial zoning order (MZO) to designate land in Innisfil for the town’s future transit hub called the Orbit, which will see a new GO station surrounded by a more urban-looking community. This will help the construction of the Go Station to be expedited.

With this new GO Station on the Barrie Rail Corridor proposed for 6th Line, the town saw an opportunity to build something innovative and never-before-seen in the province. Its goal was to strike a balance between urban living to accommodate the anticipated population growth, brought upon by the new train station, while maintaining the area’s natural landscapes and agricultural uses.

The Orbit - The vision town of Innisfil

The Orbit is the Town of Innisfil's vision for a complete, cutting-edge community where our small town and rural lifestyles are enhanced by the benefits and attributes of urban living.

As per the Cortel Group, The Orbit will be built in phases and will be a mixed-use community featuring residential, commercial, institutional, educational, and community uses. The GO Train station will be the centre of the community and the first target reached, scheduled for completion in 2022. The rail line is like a “steel river” and the required setback from the tracks will be a linear parkland. Something that is normally ignored becomes an integral asset to the entire community.

One of the main objectives of this community is to be green and offer sustainability for the future. The proposed development incorporates high-density housing along with retail, office space, and other forms of residential housing. This creates a place where high-density and low-density can co-exist, offering a better solution for the town, climate and future.

Click here to learn more about new reconstruction homes available for sale in Innisfil

What is a Tarion Warranty in preconstruction? What does Tarion warranty cover?

Every new home and condo build must enroll in the program. Because of this, all new homes built by a Tarion builder have coverage under the warranty program. The program gives a purchaser the peace of mind that they could never get when buying a resale property.

• One-Year Warranty requires the home be fit for habitation and protects against building code violations. A one year warranty also protects consumers against the unauthorized substitution of items of construction or finishings that are referred to or selected by the purchaser, in the purchase agreement.

• Two-Year Warranty protects against such things like water penetration issues and material defects, and all issues relating to exterior cladding.

• Seven-Year Warranty covers any and all issues relating to structural defects.

Coverage Limits 

For all the purchase agreement or construction contracts signed on or after February 2, 2021 :

1. The maximum statutory warranty coverage available for freehold homes and condominium units is $300,000.

2. The maximum coverage for condominium common elements is $100,000 multiplied by the number of units, up to a maximum of $3.5 million.

3. The maximum combined coverage for a condominium project (units and common elements) is $50 million.

4. There is a maximum of $50,000 for warranted damage caused by environmentally harmful substances or hazards, including mold, for freehold homes and condominium units.

What is an Ontario Land transfer Tax ?

When you acquire land or a beneficial interest in land, you pay land transfer tax to the province when the transaction closes. Land transfer tax is normally based on the amount paid for the land, in addition to the amount remaining on any mortgage or debt assumed as part of the arrangement to buy the land.

In some cases, land transfer tax is based on the fair market value of the land, such as in the following examples:

• the transfer of a lease with a remaining term that can exceed 50 years

• the transfer of land from a corporation to one of its shareholders, or

• the transfer of land to a corporation, if shares of the corporation are issued.

* First‑time homebuyers

If you are a first‑time home buyer, you may be eligible for a refund of all or part of the land transfer tax.

If you are looking to invest outside Toronto

Calgary Community

Do you live in Calgary and looking for pre construction homes in Calgary. There are over 45 New construction homes available on homebaba.

List of Pre construction homes in Ottawa