Why Invest in Real Estate in Innisfil

Location Transformation: Innisfil, a quaint town just north of Toronto, is undergoing a significant transformation with the development of the Orbit, a futuristic city project. This initiative aims to integrate urban living with the town's natural charm and agricultural heritage. Prospective Development: The Orbit project plans to introduce new condos, townhomes, and single-family homes, catering to diverse housing needs. This development is expected to offer an attractive opportunity for homebuyers seeking affordability outside of pricey urban centers like Toronto.

New Condos and Townhomes in Innisfil

Upcoming Construction: The construction of new residential properties, including condos and townhomes, is slated to begin in the coming years pending approval of proposed plans. These developments will cater to first-time homebuyers seeking modern living spaces on the outskirts of Toronto. Orbit Master Plan: The master plan for the Orbit, conceptualized by PARTISANS, envisions a city accommodating up to 150,000 people. Central to this plan is the establishment of a GO Station, promising enhanced transit connectivity and accessibility.

Building New GO Station

Transit Infrastructure: The Ontario government has expedited the creation of a new GO Station in Innisfil through a ministerial zoning order. This transit hub, part of the Orbit project, aims to blend urban aesthetics with the town's natural surroundings while accommodating population growth. Innovative Urban Living: The new GO Station serves as a catalyst for innovative urban development, striking a balance between urbanization and preserving Innisfil's rural landscapes and agricultural heritage.

The Vision of the Orbit

Cutting-Edge Community: The Orbit embodies Innisfil's vision for a progressive, mixed-use community integrating residential, commercial, educational, and green spaces. The GO Train station serves as the nucleus, surrounded by amenities and linear parkland. Sustainability Focus: Environmental sustainability is a key focus of the Orbit development, with high-density housing, retail, and office spaces designed to coexist harmoniously with the natural environment.

Understanding Tarion Warranty

New Home Protection: Tarion Warranty provides coverage for newly constructed homes and condos, offering peace of mind to buyers. It includes protection against building code violations, material defects, and structural issues for up to seven years. Coverage Limits: Tarion Warranty offers varying coverage limits depending on the type of property, with maximum coverage extending to $300,000 for freehold homes and condominium units.

Ontario Land Transfer Tax

Transaction Levy: Ontario Land Transfer Tax is a levy imposed on land acquisitions or beneficial interests in land. It is payable to the province upon closing of the transaction and is based on the purchase price or fair market value of the property. Scope of Taxation: The tax applies to various transactions, including land transfers involving leases, corporate transfers, and acquisitions resulting in the issuance of shares.