Episode 89: The Ultimate Guide to CHIP Reverse Mortgages!

In this episode, Mark and Joey deep dive into the world of reverse mortgages, specifically the CHIP reverse mortgage. They discuss the pros, cons, and unexpected costs of this financial tool, and who it might be best suited for.

Beyond finances, they cover personal updates, including their mustache-growing challenge, recent outings, and activities like trying new sandwich shops and attending Metallica concerts. Plus, they share exciting new real estate opportunities and touch on Toronto’s proposed traffic czar solution.

This episode is a blend of financial advice, personal stories, and local happenings—perfect for fans who enjoy a mix of humor and valuable information.

CHAPTERS

(00:00) Introduction and Episode Overview

(01:34) Mustache Talk and Playoff Challenges

(05:43) Sandwich Shop Review and Hockey Game Vibes

(10:09) Metallica Concert Experience

(14:58) Traffic Solutions and City Proposals

(21:08) Reverse Mortgages Explained

(28:03) The Dangers of Big Windfalls

(28:25) Scheduled Advances and Hybrid Options

(28:46) No Monthly Payments: The Big Kicker

(29:17) How Lenders Get Paid Back

(30:20) Pros and Cons of Reverse Mortgages

(38:23) Unexpected Costs and Red Flags

(47:41) Alternatives to Reverse Mortgages

(54:09) Key Considerations and Final Thoughts

Restaurant Name: Ariete e Toro (Aries and Torus)

Website: https://arietetoro.com/

Address: 12 Keewatin Ave. Toronto, Canada M4P 1Y2

Additional Resources

Reverse Mortgages: Government of Canada

HomeEquity Bank – Pros and Cons: CHIP

NerdWallet Canada – Reverse Mortgages Explained: NerdWallet: Finance smarter

The Greater Fool – The Last Resort

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WHERE YOU CAN FIND US🏡

For all your Toronto Real Estate Needs: TorontoLivings.com/🖥️ INSTAGRAM

Mark Savel: https://www.instagram.com/torontolivings/

Joey Virgilio: https://www.instagram.com/joey_torontolivings/

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Election Special: Politics, Real Estate, Taxes, and More! | Episode 88

Join Mark and Joey in Episode 88 as they prepare for the upcoming Canadian elections! They dive deep into the political landscape, discussing major topics like real estate, taxes, climate change, and healthcare. The duo breaks down the promises of the Conservative, Liberal, and NDP parties, offering insights into how these policies might impact city life, the housing market, and everyday living.

Plus, they share their favorite dining spots this week and introduce a new segment on Amazon finds.

Don’t miss their special message: Be decisive, not divisive!

CHAPTERS

(00:00 Introduction and Greetings)
(00:06 Podcast Overview and Main Topics)
(01:24 Easter Weekend and Real Estate Talk)
(01:39 Weekly Catch-Up: Food and Fun)
(01:58 Election Talk: Platforms and Debates)
(03:55 Deep Dive into Political Platforms)
(06:31 Dining Experiences and Recommendations)
(10:24 Life Updates and Travel Stories)
(13:22 Amazon Finds and Recommendations)
(14:51 News You Can Use: Elections and Taxes)
(31:44 Landlord-Tenant Dynamics)
(32:09 Rent Control Debate)
(33:20 Corporate Tax and GST)
(34:23 Housing Policies)
(37:15 Immigration and Housing Supply)
(38:54 Development Incentives)
(41:27 NIMBY Fines and Municipalities)
(42:07 Liberal Housing Proposals)
(46:00 NDP Housing Proposals)
(47:43 Climate and Energy Policies)
(55:14 Healthcare Policies)
(59:16 Gun Control and Border Security)
(01:01:58 Media and Culture)
(01:04:24 Election Predictions and Final Thoughts)

LINKS

Restaurant Name: Bao House
Website: https://www.bao-house.ca/
Address: 171 Dundas St W.

Restaurant Name: And/Ore
Website: https://www.andorerestaurant.com/
Address: 1040 Queen St. W Toronto, Ontario.

CBC’s election platform summary: https://newsinteractives.cbc.ca/features/2025/federal-party-platforms/#federal-2025-border-security

Unlocking the Secret to Canada’s Tax-Free Home Savings Account:
https://youtu.be/wKoexrSwrn0

FEEDSPOT TOP CANADIAN REALTOR PODCASTS
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https://podcast.feedspot.com/toronto_podcasts/

WHERE YOU CAN FIND US

🏡 For all your Toronto Real Estate Needs: TorontoLivings.com/

🖥️ INSTAGRAM
Mark Savel: https://www.instagram.com/torontolivings/
Joey Virgilio: https://www.instagram.com/joey_torontolivings/

🎙 MORE EPISODES
https://podcasters.spotify.com/pod/show/toronto-real-estate

Episode 87: Market Update, Delicious Pastries & More!

In Episode 87, Joey and Mark provide an in-depth market update for March, discussing the highs and lows. They introduce their new sponsor, a local Portuguese café, and rave about various pastries and snacks. The episode also explores intriguing real estate trends and new listings, offering valuable insights into the current market dynamics. The hosts share personal stories, TV show recommendations, and end on a light-hearted note with a cheers using delicious shrimp patties. Tune in for an engaging mix of market analysis, food reviews, and entertaining banter!

FOOD SPOTS

Paulinha’s Rissois – THE BEST SHRIMP PATTIES IN THE CITY
https://www.instagram.com/paulinhasrissois/ Send her a DM to order your own!

Restaurant Name: Belem Cafe
Website: https://www.cafebelemto.ca/
Address: 546 College St, Toronto, ON M6G 1B1

Restaurant Name: Paris Baguette
Website: https://parisbaguette.ca/
Address: 2401 Yonge Street Toronto, ON M4P 3H1
(416) 322-3337

CHAPTERS

(00:00) Introduction and Episode Overview

(01:12) Market Update for March

(02:35) Culinary Adventures: Local Cafes and Bakeries

(07:41) Sponsorship Announcement and Product Review

(12:35) Real Estate Market Insights

(15:53) March Market Statistics

(18:10) Market Trends Overview

(19:08) Buyer and Seller Dynamics

(20:14) Tax Implications and Property Ladder

(21:05) Average Prices and Market Stability

(23:15) Days on Market and Inventory Levels

(24:45) Segment Performance and Inventory Awards

(33:10) Pre-Construction vs. Resale Condos

(38:52) Final Thoughts and Recommendations

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The Hidden Closing Costs No One Warns You About – Episode 86

In Episode 86, Mr. Mark and Mr. Joey dive into the often-overlooked closing costs associated with purchasing a home. The hosts break down eight rounds of hidden expenses that can quietly drain your wallet, including land transfer taxes, legal fees, title insurance, and more. They also discuss their first sponsorship, shout-outs which are now ‘salutes’ to their favorite local eateries, and an insightful article from the Toronto Star. Tune in for tips, insights, and some fun-filled segments!

Land Transfer Tax Calculator: link…https://www.ratehub.ca/land-transfer-tax-ontario

Toronto Star Article – https://www.thestar.com/business/personal-finance/ready-to-buy-your-first-home-here-are-the-steps-you-need-to-take-and/article_1c98a7da-f302-11ef-af18-1b3583bb4d05.html

WHERE DID WE EAT

Website: https://www.breadycafe.com/
Address: 15 Connie Crescent – Unit 27 Concord, ON L4K 1L3​
Monday-Sunday 8am-8pm

The Home Inspection Horror Show: Red Flags to Watch Out For | Episode 85

In Episode 85, Joey and Mark dive deep into the essential red flags to watch out for during home inspections. They share personal anecdotes, practical tips, and professional insights to help potential home buyers navigate common pitfalls. The duo covers a wide array of topics, including cosmetic coverup scams, permits, foundation issues, electrical wiring, and the importance of working with experienced realtors and home inspectors. They also touch on the quirks of buying older homes, the dangers of outdated systems like knob and tube wiring, and the hidden costs of repairs and upgrades. Additionally, Joey shares his humorous experience with goat yoga, while Mark gives food rave reviews and restaurant shout-outs. Enjoy the episode and gain valuable insights to keep you out of the ‘danger zone’ in your home-buying journey.

Avoid These 6 Major Mistakes After Getting Pre-Approved for a Mortgage!

In this episode, Mark and Joey dive into critical advice for those freshly pre-approved for a mortgage. They address common mistakes to avoid, such as changing jobs, making large purchases, or increasing credit card debt, and emphasize the importance of not ‘rock the boat’ until your mortgage is finalized.

The chat also covers personal anecdotes and some fun sidetracks about favourite eateries, the excitement for F1 races, and new podcast studio upgrades. Tune in for valuable insights and some entertaining banter!

CHAPTERS

(00:00) Introduction and Setting the Scene
(01:03) Podcast Upgrades and New Additions
(01:43) Client-Inspired Episode: Career Changes and Pre-Approval
(02:51) Weekly Catch-Up: Food Adventures
(03:46) Kitchen Hub Stories and Food Comparisons
(12:56) Listener Contributions and Studio Upgrades
(19:58) Real Estate Market Insights and Success Stories
(26:15) Understanding Pre-Approval
(26:58) What Pre-Approval Actually Means
(29:31) The Importance of Stability: Job Changes
(33:38) Avoid Big Purchases
(35:22) Managing Credit Card Debt
(37:41) Timely Payments Matter
(42:26) Red Flag Buildings
(45:41) Final Tips and Recap

We Buy Canadianhttps://www.instagram.com/webuycanadian/

https://kitchenhub.com/1121 Castlefield Ave, York, ON M6B 1E8

Belly Buster Submarines3447 Yonge St, Toronto, ON M4N 2N2

FEEDSPOT TOP CANADIAN REALTOR PODCASTS

https://podcast.feedspot.com/canadian_realtor_podcasts/

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https://podcast.feedspot.com/toronto_podcasts/

Join Joey and Mark as they introduce their brand-new podcast studio at the TorontoLivings Real Estate Podcast Show. In this episode, they discuss the February market update, including trends in real estate sales, average prices, and market dynamics.

They share personal anecdotes about recent events, dining experiences, and their Lent challenges. The duo also talks about the rise of condos and detached homes, and how changing interest rates could play a role in future market conditions. Don’t miss their shoutouts to SAGE Realty, Collingwood whiskey, and more!

CHAPTERS

(00:00) Welcome to the New Studio Space

(00:12) Discussing the Market and Conspiracies

(01:07) Upgrading Our Podcast Studio

(02:01) Supporting Local and Market Updates

(02:52) Exploring the Castle Field Design District

(03:43) Reflecting on Our Podcast Journey

(08:34) Event Highlights and Fine Dining

(15:11) Lent and Personal Challenges

(18:08) Toronto’s Birthday and City Strike

(20:36) Real Estate Updates and Garden Suites

(22:44) Comedy Bar Experience

(24:05) Reflecting on February’s Market

(25:30) February’s Real Estate Transactions

(28:45) Analyzing Property Types and Prices

(37:32) Months of Inventory Explained

(39:52) February’s Historical Significance

(45:23) Investment Insights and Market Fundamentals

(48:52) Shoutouts and Closing Remarks

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Special Assessments in Condos Explained | Toronto Livings Podcast Episode 82

SHOW NOTES

In Episode 82 of the Toronto Livings Podcast, Mark and Joey dive deep into the topic of special assessments for condos. They discuss everything you need to know whether you’re buying, selling, or currently owning a condo facing a potential special assessment. With valuable insights on how to navigate this complex subject, including real-life examples and tips for both buyers and sellers, this episode is packed with essential information.

Plus, hear about their latest adventures, including ice fishing and a visit to Second City, and the sad farewell to a favourite sushi spot. Don’t miss out on this highly informative and entertaining episode!

CHAPTERS

(00:00) Introduction and Episode Overview

(02:29) Ice Fishing Adventure

(07:07) Second City Comedy Night

(11:27) Sushi Restaurant Closure

(15:21) New Listings and Garden Suite Rental

(19:26) Understanding Special Assessments

(29:22) Understanding Building Diagnostics

(30:10) The Complexity of Condo Living

(31:19) Major Repairs and Special Assessments

(31:43) Case Study: Special Assessments in Action

(34:35) Financial Management and Special Assessments

(37:57) Legal Matters and Special Assessments

(46:59) Navigating Special Assessments as a Buyer

(51:53) Navigating Special Assessments as a Seller

(57:08) Final Thoughts and Practical Advice

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Mastering the Art of Selling Your Home

In Episode 81 of the Toronto Livings Podcast, Mark Savel and Joey Virgilio dive deep into the essential steps you need to take if you’re thinking about selling your home this year. They reveal a comprehensive plan from start to finish, providing expert advice on everything from decluttering and staging to market assessment and pricing strategies. Mark and Joey also highlight the importance of using a local realtor, pre-listing home inspections, and being transparent with potential buyers.

Additionally, the episode features some fun segments on ASMR, Toronto food spots like Koh Lipe and Right Wing, and a special shoutout to subscribers and YouTube commenters. For anyone in the real estate market or planning to be, this episode is packed with valuable insights and tips to ensure a smooth and successful home-selling experience.

@kylefordinvest Your Southwestern Ontario private lender https://www.youtube.com/@UCPlhb05ieTA8yAugwmTT4Og

Matt McKeever a CPA & Real Estate Investor from @CanadianRealEstateChannel https://www.youtube.com/channel/UCdRtqnqBSq4GY7DGiYICu5g

Restaurant name: Koh Lipe
Website: https://kohlipe.ca/
Location: 35 Baldwin St, Toronto, ON M5T 1L1 with a new location at 4675 Steeles Ave E, Scarborough, ON M1V 0B7

Restaurant name: Right Wing Website: https://rightwingsportspub.com/
Location: 2497 Yonge St, Toronto, ON M4P 2H6 – Just North of Eglinton Ave.

CHAPTERS

(00:00) Introduction and Episode Overview

(00:04) Selling Your Home: Step-by-Step Guide

(01:53) Behind the Scenes of Real Estate

(03:14) Call to Action and Listener Engagement

(05:50) Peloton and Fitness Talk

(07:33) Weekend Recap and Food Adventures

(14:52) Hockey Highlights and National Pride

(17:45) Bourbon vs. Whiskey: Clearing the Confusion

(20:19) Donair Sauce Taste Test

(24:56) New Real Estate Listing

(25:56) Exploring Don Mills: A Community Overview

(26:07) Unit Features and Pricing Details

(26:45) Amenities and Perks of the Property

(27:42) The Secret Sauce: Preparing a Property for Market

(28:57) Deciding to Sell: Key Considerations

(34:52) Understanding Market Trends and Pricing Strategies

(38:43) Executing the Plan: Staging and Inspections

(47:28) Going Live: Marketing and Selling Your Home

(51:11) Common Mistakes and Final Tips

(57:32) Wrapping Up: Final Thoughts and Shoutouts

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Join us for the 80th episode of the Toronto Livings Real Estate Podcast Show as Mark Savel and Joey Virgilio dive into the January real estate numbers. Amid casual banter and jokes, they discuss market trends, rental shifts, and notable listings. Joey shares his bout with pneumonia, while Mark proudly wears his new Josh Allen jersey.

They also reminisce about their favorite Adam Sandler movies and recount funny personal anecdotes. Get insights into Toronto’s real estate scene, hear food recommendations, and enjoy a few laughs along the way. Tune in now!

CHAPTERS

(00:00) Introduction and Episode Overview

(00:37) Hosts’ Personal Updates and Banter

(02:00) Toronto Food Scene Highlights

(05:41) Adam Sandler Encounter and Movie Discussion

(14:07) Real Estate Listings and Market Insights

(18:06) Market Activity and Spring Preparations

(18:25) Analyzing January’s Real Estate Numbers(19:40) Impact of Tariffs and Economic Uncertainty

(21:50) New Listings and Market Reactions

(22:41) Sales Trends and Price Movements

(29:10) Months of Inventory Explained

(34:06) Rental Market Insights(

36:11) Concluding Thoughts and Shoutouts

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