Move With Micallef

REAL ESTATE TERM: LAND TRANSFER TAX

Buying a home comes with more costs than just the purchase price and your mortgage payment, and Land Transfer Tax is one buyers should understand before making an offer.

In Ontario, Land Transfer Tax is generally paid when ownership of a property is transferred from one party to another. It is calculated using the value of the property and follows a tiered tax structure, meaning different portions of the purchase price are taxed at different rates.

One important thing for first time buyers to know is that you may qualify for Ontario’s First Time Homebuyer Land Transfer Tax Refund. Eligible buyers can receive a refund of up to $4,000, potentially reducing the amount of tax payable.

Why does this matter?

When determining your home buying budget, you need to account for more than just your down payment. Closing costs such as Land Transfer Tax, legal fees and adjustments can add thousands of dollars to the funds you need available at closing.

Understanding these costs ahead of time can help you set a realistic budget and avoid surprises when it comes time to close.

Knowledge is one of the best tools you can have when buying a home.

Have a real estate term you’ve heard but never fully understood? Send it my way and it might be the next one in the series.

Fall is when a little effort saves you a lot of stress once winter hits. Most expensive home surprises don’t start in January. They start with something small that got skipped in October.

Start with your heating system. Book your furnace service before the first cold snap, when every technician in town is booked solid, and swap your filter so the system isn’t working harder than it needs to. Then look up. Clean your eavestroughs once the leaves drop, since clogged gutters send water toward your foundation and cause ice dams along the roofline. Give the roof a good look too, because missing shingles and lifted flashing are far cheaper to fix now than after a freeze.

Disconnect your hoses and drain your outdoor taps, because one burst pipe can undo years of good maintenance. Check your windows and doors for worn weatherstripping that quietly leaks heat all winter, and test your smoke and carbon monoxide alarms now that the furnaces and fireplaces are firing up again. Finish by tidying your outdoor spaces and making sure the grading still pushes water away from the house. Whether you’re staying for twenty years or listing next spring, a well cared for home always shows better, inspects better, and sells better.

Thinking about what your home is worth or what a move could look like? Book a quick consult and let’s make a plan.

Sold in Ilderton! Huge congratulations to my buyer clients on officially closing at 175 Bowman Drive.

From our first conversation about what they were looking for, to the search, the offer, and every step in between, it’s been such a rewarding process watching this come together. Ilderton offered exactly what they wanted: more space, a quieter setting, and a beautiful, modern home without giving up an easy commute into London.

Watching clients walk into a place they can finally call their own never gets old. This one was a perfect fit from the start, and I couldn’t be happier for them as they begin this new chapter.

Congratulations again, and welcome home!

If you’re thinking about buying or selling in London, St. Thomas, or anywhere in surrounding area, I’d love to help you navigate it. Reach out anytime.

Looking for weekend plans? I have you covered. 57 Caverhill Crescent in Komoka is open again this weekend, Saturday and Sunday from 10am to noon. This bungalow is an entertainer’s dream, with a chef’s kitchen featuring a waterfall island that’s perfect for hosting, a bright sunroom that flows right out to the backyard, and a media room made for movie nights and game days. Four bedrooms, three bathrooms, and a 60x115 lot give you room to spread out inside and out.

Komoka offers that small town feel without sacrificing convenience, just minutes from London with easy access to the 402 for commuters. Families love the top rated schools, the trails through Komoka Provincial Park, and the tight knit community feel that’s hard to find close to the city. Add in local shops, parks, and a quieter pace of life, and it’s easy to see why so many buyers are making the move here.

Two chances to see it this weekend, Saturday and Sunday from 10am to noon. Listed at $925,000. Come walk through it yourself, or reach out anytime with questions or to book a private showing.

Open house this Saturday at 57 Caverhill Crescent in Komoka. This bungalow has been thoughtfully updated from top to bottom and is an entertainer’s dream, with a chef’s kitchen featuring a waterfall island that’s perfect for hosting, a bright sunroom that flows right out to the backyard, and a media room made for movie nights and game days. Four bedrooms, three bathrooms, and a 60x115 lot give you room to spread out inside and out.

Komoka offers that small town feel without sacrificing convenience, just minutes from London with easy access to the 402 for commuters. Families love the top rated schools, the trails through Komoka Provincial Park, and the tight knit community feel that’s hard to find close to the city. Add in local shops, parks, and a quieter pace of life, and it’s easy to see why so many buyers are making the move here.

Come see it in person September 12th from 12 to 2pm. Listed at $925,000. Reach out anytime with questions or to book a private showing.

August’s numbers are clear. 526 homes sold against 1403 new listings, pushing inventory to 6.3 months, past the line where leverage shifts to buyers.

The average price of $590,550 hides a lot. Middlesex Centre and Strathroy Caradoc are pushing past $700,000 while London East and St. Thomas stay under $500,000. Location matters more than the average ever will.

First timers finally have room to breathe. Move up buyers can negotiate harder on their purchase. Sellers need to price to today’s comparables, not last year’s. Investors, this is historically when the best entries get made.

Wherever you are in your journey, this market rewards good information. Let’s talk through what it means for you.

Ranked #8 among Royal LePage’s Top 25 Producers for August. Numbers like this never tell the full story on their own, so I wanted to take a moment to talk about what actually got me here.

This didn’t happen in a vacuum. It happened because of clients who trusted me with one of the biggest decisions of their lives, referrals from people who didn’t have to vouch for me but did anyway, and a network of friends, family and colleagues who share my listings, like my posts and show up for me in ways that don’t always make it into a caption.

Real estate can look like an individual sport from the outside. It isn’t. Every deal I close is built on relationships, and every ranking is really a reflection of the people around me who keep believing in what I’m building.

So this one’s for everyone who’s referred a friend, shared a post, sat through a showing with me or just sent an encouraging text at the right moment. Thank you for being part of this journey. Here’s to the next one.

Please reach out anytime with questions about your next home search or anything real estate related!

OPEN HOUSE | 4397 Mill Crescent

Looking for a home that gives you space, privacy, and room to make it your own? This one is worth seeing in person.

Situated on a corner lot in a quiet neighbourhood, this property is just steps from the local school and offers the perfect balance of peaceful living and convenience, only 20 minutes from London and Lake Huron.

Inside, you’ll find just over 1,900 sq. ft. above grade, a spacious 500 sq. ft. loft, a primary suite that feels like a true retreat, and an unfinished 1,400 sq. ft. basement with endless potential.

📍 4397 Mill Crescent
📅 Saturday August 29th
⏰ 2:00–4:00 PM

Come walk the property, explore the space, and see why this one could be the perfect fit.

I’ll see you Saturday!

Open House this weekend. Come see it for yourself. 👀

📍 57 Caverhill Crescent, Komoka
🗓️ Saturday, August 22 & Sunday, August 23
🕑 2 to 4 PM

$925,000 | 4 bedrooms | 3 bathrooms | 2 car garage | 3100 total sq ft

This Komoka bungalow has a quartz island kitchen over 10 feet long, a main floor primary retreat, and a finished basement with a home theatre and heated floors. The yard backs onto Komoka’s gravel pits, so there’s no one behind you.

Swing by this weekend, no appointment needed. Can’t make it? DM or call/text me to book a private showing.