Houses for Sale in Norwich, Toronto, ON

The most popular neighbourhoods in Norwich are none available. Strata.ca looks at a number of indicators to rank the communities most in-demand. Indicators include the average time a property spends on market, the average sale price, plus the percentage of homes that have sold over asking.

It's hardly surprising that none available are Norwich's most expensive neighbourhoods. Strata.ca determines this by looking at the average sold price for the past year and contrasts it with other neighbourhoods. If you're looking for cheaper options though - none available also have great properties, but at much better value.

The most affordable neighbourhoods in Norwich are none available. Neighbourhoods are ranked by assessing the average sold price during the past 12 months. In comparison, the average house in Norwich is selling for about unknown.

Aside from mortgage payments, owning a house in Norwich will require that you pay an annual property tax. This tax is essential in helping the city provide a number of services, including sewer protection and road maintenance. Property tax rates are assessed and determined annually by your municipality. They usually fall somewhere between 0.5 to 2.5%. This tax is not necessarily dictated by the size of your house, which is what many Norwich homeowners tend to believe. But rather, the city's tax rate is multiplied by the property's current market value - and that can fluctuate year-to-year based on recently sold homes. If your home's market value is $500,000, and the municipal property tax rate is 1% - your property tax for that year would be $5,000.

Strata.ca features all listings in Norwich, updated multiple times daily - you won't ever miss a property when using this platform. In addition to listing details, imagine having the ability to search historical data for every property in Norwich. From the average sale price to appreciation rates - Strata.ca gives you the power to learn every aspect of the neighbourhoods you're interested in.

When purchasing a house in Norwich, you must budget for a series of charges known as 'closing costs'. These costs are necessary in order to finalize your purchase, so be sure to factor them in before making an offer. When searching for a house in Norwich, buyers will typically take into account 1.5% - 2% of their budgeted purchase price for closing costs. For instance, 2% in closing costs on a $500,000 house would be $10,000. Because these charges cannot be lumped into your mortgage, it's crucial to have this money upfront upon closing. The land transfer tax will make up most of your closing costs. In Canada, all buyers are subject to the LTT imposed by the province. If this is your first home, you can reduce closing costs by applying for a government rebate. Under this program, first-time homebuyers are reimbursed a portion of the land transfer tax. Lastly, you'll need a Norwich real estate lawyer, not only to facilitate the financial transaction, but to conduct a title search and register the property under your name. Depending on the complexities of the deal, legal fees can range. But budgeting $2,000 for your lawyer is a good place to start.