Houses for Sale in Muskoka Lakes, ON

Every city has its most in-demand neighbourhoods, and in Muskoka Lakes they are none available. Strata.ca looks at a number of indicators to rank the communities most in-demand. Popularity is typically determined by assessing the following - the average sale price, average number of days that a home sits on market, plus the proportion of homes that have sold over asking.

It's hardly surprising that none available are Muskoka Lakes' most expensive neighbourhoods. Strata.ca determines this by looking at the average sold price for the past year and contrasts it with other neighbourhoods. Not everyone can afford a home in Muskoka Lakes' priciest neighbourhoods. But none available offer incredible value at a much lower cost.

You may be surprised to discover that none available are Muskoka Lakes' most affordable neighbourhoods. Neighbourhoods are ranked by assessing the average sold price during the past 12 months. In comparison, the average house in Muskoka Lakes is selling for about unknown.

Annual property taxes cannot be overlooked when assessing what it costs to own a house in Muskoka Lakes. This tax is crucial in providing local residents with essential services, including garbage collection, fire protection and policing. Property tax rates usually fall between 0.5 and 2.5%, and are set out by the local municipality. Some Muskoka Lakes homebuyers believe this tax is based on the size of the house. But rather, the tax rate is multiplied by the home's current market value - which can fluctuate each year based on surrounding homes. Let's say your property's market value is $700,000 and the municipal property tax rate is 0.5%. This means you'd owe $3,500 in property taxes that year.

If you're seeking a new place to call home Muskoka Lakes, Strata.ca can help you. Our website lets you search for every property on the market. It's a one-stop-shop for your real estate journey. This platform offers something extra that many others don't. In addition to property specs, Strata.ca also provides extra data and rankings. Armed with this knowledge, users are able to compete effectively against other buyers and sellers.

All buyers must pay a series of closing costs when purchasing a house here. Your realtor and/or real estate agent can best advise on what these charges are. But here's a quick overview of what's involved when buying property in Muskoka Lakes. The average closing costs in this city will typically come to about 1.5% - 2% of the purchase price, although this can vary. For example, 2% in closing costs on an $800,000 house would be $16,000 that you need to budget for. A significant portion of your closing costs will be dedicated to the land transfer tax. These taxes are based on a percentage of the total purchase price. The most common way to reduce this tax is by applying for the first-time homebuyer rebate. And finally, when buying a home in Muskoka Lakes, you'll need a real estate lawyer to close the deal. Although fees can vary, expect to set aside somewhere around $1,500 - $2,000 on closing to cover your legal costs.