When Canadians travel, some people might head to the cottage or a hotel, while others take flight to their second home abroad.   

Some Canadians own homes across the globe. While select international homeowners buy property for investment purposes, most opt for a home in a foreign destination strictly for vacations.   

“It’s very clear the primary motivation for Canadians who buy internationally is to have a vacation home,” said Sharon von Schoenberg, Manager of Global Strategy and Relations with the Canadian Real Estate Association (CREA).

Citing data from the National Association of REALTORS® (NAR) 2022 International Transactions in U.S. Residential Real Estate report, von Schoenberg explained more than half of Canadians who buy a home in…

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What the Bank of Canada’s Interest Rate Hikes Mean for Homeowners

In 2022, the Bank of Canada (BoC) has been raising interest rates at the fastest and most significant pace since 1998. In July, the organization increased the benchmark rate to 2.5 per cent for the first time since 2009, when the global economy was coming out of the financial crisis. Here’s what the Bank of Canada’s interest rate hikes mean for homeowners.

The central bank is trying to bust inflation, with the consumer price index (CPI) hovering around eight per cent. The Canadian economy has not witnessed inflation this high since the early 1990s, driven by a wide range of factors, from expansionary pandemic-era fiscal policy to surging commodity prices.

While inflation has eased this summer on the back of falling crude…

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Outside of “are there enough of them” or “will they let in enough natural light,” windows aren’t typically top of mind for most people. Despite being an important detail that can help add to the value of your home, it’s typically not until problems such as physical damage, drafts, water leaks, or noise pollution appear that windows are considered.

Though it’s common in homes 20 years or older still fitted with their original windows, it goes without saying updating or completely replacing windows will be necessary at one stage or another. But how do you know when it’s time to change or upgrade your windows? How do you determine the type of window that best suits your home and their impact on your home’s energy-efficiency? Let’s find out!

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Do you choose the resale market or opt for a pre-construction home? When you are in the market to buy a home, it is an important consideration. There is no doubt that pre-construction homes have a certain appeal to homebuyers.

Buying brand new provides the opportunity to own a home that no one else has ever lived in. And because the house is in the pre-construction phase, you have the opportunity to customize it to your preferences.

If pre-construction is something you’re considering, here’s the 411 to help you decide if it really is for you.

What is a Pre-Construction Home?

A pre-construction home is exactly what it sounds like, a house you buy before constructed. Most styles of homes are available for…

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With the arrival of fall bringing cooler nights, shorter days and busier schedules, you might be wondering how you can extend the feeling of summer fun and continue to enjoy patio season well into the autumn months.

Whether you’re hosting a backyard get-together with family and friends or embracing the quiet of the night on your own, outdoor patios have become an extension of our usable living space and should be enjoyed as long as possible. With a few modifications, your outdoor patio can become a cosy autumn oasis, ready to combat those nippy nights and early sunsets.

Here are seven ways to keep patio season around a little longer to get the most out of your outdoor living space.

1. Add barriers

Don’t let the cool fall weather bring…

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How would you describe your dream home? You know, the one with every amenity and design feature you’ve been looking for? But finding that dream home already built and available on the market isn’t always possible. Whether it’s because of the location, size, price, or available features, it can be difficult to find this dream space without compromise. 

Rather than struggling to find something that checks all the boxes, some choose to buy land and build their own home. The process is different from buying in the resale market and can get a little complicated, so it’s best to let a REALTOR® guide you through the process, but we’re going to break things down a bit for you here first.

Why buy land?

According to REALTOR® and salesperson Peter…

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The red-hot Canadian real estate market is finally cooling down thanks to higher interest rates, and is poised to experience some stabilization after the unprecedented boom of the last two years. Is this a terrific opportunity for households looking to purchase a home, or is ownership still out of reach for many Canadian families?

Canada’s housing sector had been electric throughout the coronavirus pandemic, from skyrocketing real estate valuations to exceptional sales activity. It isn’t easy to find another comparable period in the Canada’s history or perhaps envision another span like it in the future – although markets are cyclical.

But while many Canadian families established generational wealth throughout the COVID-19 public health crisis,…

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The COVID-19 pandemic certainly turned Canada’s housing market on its head. Many had anticipated a significant crash in the early days of the coronavirus public health crisis, but the opposite transpired, with a big change in consumer buying and selling patterns. Many Canadian homeowners experienced enormous equity gains on their residential properties and with remote work taking hold, they chose to sell and move elsewhere, in search of a bigger place, or a quieter way of life. What resulted in a massive demand for homes, coupled with a shortage of listings, created strong seller’s market conditions. With buying a home becoming a challenge, many homeowners decide to play it safe, with a plan to buy a house before selling one. But how do you buy a…

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Homesteading_urban_garden

If you’ve checked out any shows such as Homestead Rescue, Unplugged Nation or Alaska the Last Frontier, you may be wondering, what’s homesteading and why are people choosing to live this way? The big idea behind homesteading is focusing on self-reliance, a concept that is becoming increasingly more important in today’s economy. It isn’t reserved just for people who move off the grid, either. Read on to learn about the homesteading practices you can try. 

What’s Homesteading?

While homesteading used to be a very specific lifestyle, the definition has evolved to mean different things to different people in the modern day. What they all share is a commitment to living in a self-sufficient way.

The traditional approach to…

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When the time comes to sell your home, an obvious question arises—should I do renovations before I sell? While on the surface it may seem like renos could increase the value of your property, there are a handful of factors to consider before jumping in.

 First, find and choose a REALTOR©  for guidance on how the market is performing in your area. Next up, decide on your target market. Are you looking for a buyer who wants a move-in ready place? Or someone searching for a fixer upper? What’s your time frame to sell? These questions will help determine the scale and size of any potential renovation.

 Anthony Lance, REALTOR® and sales representative with Right at Home Realty Inc. in Toronto, Ontario, says, “whether you’d like to sell your home with…

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