Real Estate Blog

Getting a Home Appraisal? Here’s What You Should Know

Have you ever wondered how much your property’s value has changed since you purchased it? Home appraisals can play a big role. Let’s break down the appraisal process—what it means, when it happens, and other important factors you need to know.

What is a home appraisal?

An appraisal is an process to determine how much money a property is worth. It sounds simple in theory, but a lot goes into determining the appraised value of a piece of real estate. 

Valid appraisals must be conducted by a licensed appraiser—a third-party professional who’s  unbiased towards the sale. Appraisers are required to hold a license in New Brunswick and Nova Scotia, but other provinces may have different requirements. Typically, they’re ordered by…

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Is Low Supply Keeping Canadian Real Estate Prices High?

A year ago, housing affordability dominated national conversations as the Canadian real estate market exploded in growth, across major urban centres and rural communities alike.

For the last couple of months, it seems like this discussion has shifted, with affordability taking a back seat given recent moderation in the market following the unprecedented “COVID boom.”

The average price for a home in Canada was sold for about $630,000 in July, recent data from the Canadian Real Estate Association (CREA) confirm. This is down five per cent from the same time a year ago. When the red-hot markets of Toronto and Vancouver are removed from the equation, the typical price for a residential property falls to roughly $525,000.

Despite the last several…

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6 Home Improvement Projects You Can Do for Less Than $100

As hibernation season begins and our time indoors increases, we naturally begin to think of ways to make our home more comfortable. Home improvement projects can help revitalize your space and create the perfect cozy haven. What’s more, completing these projects early in the season has an added bonus: your home will be refreshed before guests ascend for holiday get-togethers! 

Whether your preference is new curtains for bedroom windows or fresh lighting in the kitchen, we’ve got you covered for all the little projects you can do around your home for less than $100—perfect for a weekend DIY when the weather starts to get a bit drab.

1. Organize your entryway

Proper storage is a key aspect of organizing your front hallway. Shelving units,…

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What is Renovation Mortgage Financing?

The good news is that you’ve found your dream home. The bad news is it’s a bit of a fixer-upper. You’ve saved for the down payment but do not have the money to undertake the necessary renovations. Fear not, homebuyer! There are many options available to help you finance the renovations, so you can stop dreaming and start enjoying your new home.

How to pay for renovations when buying a home

Renovation mortgage financing is one of the most popular renovation financing options for new homebuyers. It allows you to add renovation costs to your mortgage when you purchase your new home. So if your mortgage was $500,000 to cover the purchase price and you needed $60,000 for the renovations, you would assume a mortgage of…

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Upcoming Fall Décor Trends for Your Home

With cooler weather approaching, it makes sense to start thinking about cozy ways to spruce up your home. 

Perhaps you’ve experimented with a little fall DIY project in the past, or maybe this is the year you’ve decided to put your design and creativity to the test. Regardless of your motivation, there are plenty of ideas for every part of your home. From incorporating more texture and sustainable materials, to emulating fall foliage, we’ve outlined some of the upcoming fall trends you can implement below!

Natural hues with a pop of colour

Fall is so often associated with rich and earthy tones—think burnt orange, deep chocolate brown, muted greens, camel, and mustard yellow. This fall, in addition to the expected warm and calming colour…

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CMN Champion and RE/MAX Agent Bruce Johnson Raises $1 Million

As a kick-off to RE/MAX’s annual Month of Miracles on August 1, Bruce Johnson, founder of Motorcycle For Miracles and Sales Representative with RE/MAX By The Bay, set off from his home in Wasaga Beach, Ontario for a 10,000-kilometre solo ride to Labrador, with a goal of raising $250,000 for Children’s Miracle Network (CMN). Bruce stopped at 10 CMN hospitals along the way, visited with children and families, and reached his fundraising goal. But this ride, dubbed the “Road to a Million,” marked another significant milestone for Bruce, bringing his total funds raised for CMN to $1 Million.

“Road to a Million holds a very special significance for me,” Bruce explained. “Having raised $750,000 for CMN to this point, aiming for…

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Where Canadians Are Buying Internationally

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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What to Know About Updating Your Windows

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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The 411 on Pre-Construction Homes

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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