In recent months, officials at all three levels of government have been scrambling to increase affordability in the Canadian real estate market, with municipal, provincial and federal housing proposals ranging from new or higher tax rates to more tax credits.

During the last general election, all of the federal party leaders put forward their ideas to improve the housing sector and ensure more Canadians can purchase a home, be it a single-family home, townhouse or condominium unit, without breaking their budgets to do so. But now that it appears Prime Minister Justin Trudeau and his Liberal government will remain in power for another three years, the Grits are beginning to tackle this national issue. What federal housing proposals will actually…

279 Views, 0 Comments

What Does a Real Estate Lawyer Do

The world of real estate can be a little confusing. With so many players involved in the process of buying a home, keeping everyone’s role straight can be a little challenging. However, by educating yourself on what each professional does and how they can each help you on your home-buying journey, you can make sure that you get the best experience possible. In this article, we’ll answer the question, what does a real estate lawyer do?

While it’s fairly common knowledge that employing a real estate agent to help you find your dream home can make the process run much smoother, it is less understood how a real estate lawyer can benefit you.

Hiring a real estate lawyer in Canada is required to close the deal on a home,…

324 Views, 0 Comments

Nothing embodies summertime in Canada more than hanging out on your deck, grilling, sipping cold drinks, and making memories with family and friends.

Like other areas of your home, your deck does need to be cared for regularly to ensure it lasts long enough to keep the good times rolling season after season. Keeping your deck in tip-top condition is another way to maintain curb appeal—just ask a REALTOR®! 

In addition to keeping your deck free from dirt and debris, you should consider painting or staining it. The added layer of product protects your deck from moisture, mould, bugs, sun, and other harsh elements. Changing the colour of the wood is also an easy way to revitalize your deck without a total overhaul.

Let’s look at how you can…

421 Views, 0 Comments

DIY Kitchen Renovation

Of all the rooms in your home, you are probably spending the most time in the kitchen. Whether as the place where you prepare meals each day or as an entertaining space, a lot can be done to improve it and to get the most out of this space. The good news is there are lots of DIY kitchen renovation projects that will make a significant impact without breaking the bank. The other good news is that kitchen upgrades are one of the best things you can do to increase your home’s resale value.

The ideas listed below won’t cost a bundle but may bring you closer to the kitchen you have always wanted. Read on to find inspiration for projects to improve the heart of your home.

DIY Kitchen Renovation Ideas

Refacing Cabinets

394 Views, 0 Comments

Advantages of Putting 20% Down on Your Home

Is it possible to have a down payment strategy in today’s sizzling Canadian real estate market? From the Prairies to Atlantic Canada, it is clear that all kinds of residential properties are rising in value. And while there are obvious advantages of putting 20% down on your home, current conditions are posing challenges to many homebuyers.

When you factor in higher interest rates, rampant price inflation, and accelerating price growth for single-family homes and condominium units alike, it can be a challenge for prospective homebuyers to find a place.

One of the biggest hurdles for buyers to overcome is the down payment.

According to the federal government’s rules, homebuyers need a minimum of five per cent down…

322 Views, 0 Comments

If your family home lacks space but you don’t want to move, you’ll be joining thousands of other Canadians who have chosen to renovate their properties. Whether you’re adding an extension, overhauling your kitchen, or knocking down walls to create better flow, you can likely count on one thing: you’re about to embark on an expensive project. Don’t fret if your dreams are bigger than your budget—there are a lot of ways to finance home renovations. While it may be tempting to borrow money, just remember you’ll have to pay that loan back, so be sure to make a plan that factors in the potential of further interest rate increases. Here’s how you can pay for upgrades to your property.

1. Take out a personal loan or borrow from family and friends 

444 Views, 0 Comments

Rising interest rates and housing market

The Bank of Canada (BoC) has said it will be use its monetary policy to tamp down inflation, which currently sits at a 30-year high, joining the chorus of central banks worldwide trying to grapple with the rapidly escalating cost of living. So far this year, the BoC has already moved forward with rising interest rates three times, and Governor Tiff Macklem is preparing the financial market for more quantitative tightening in upcoming policy meetings.

But while the objective is to garner a stranglehold on a surging consumer price index (CPI) and producer price index (PPI), rate hikes will lead to financial pain for borrowers, investors and homebuyers.

Indeed, the Canadian real estate market is seeing the effects of a…

329 Views, 0 Comments

During those beautiful summer nights, it doesn’t matter where you are in Canada, you want to be outside. It’s natural, and let’s face it, the past few years have driven many to upgrade their own backyard retreats, so you’ve got a good reason to be out and about in your own space. 

Upcycling and repurpose trends show no sign of abating, and we’ve already seen signs of the backyard undergoing radical redesigns, adding features like pizza ovens, outdoor kitchens, and bars. Why not extend that idea and bring your home theatre outside? What says summer better than a drive-in (or walk-in) movie night? In the  spirit of the popular staycation trend, let’s look at how you can set up a backyard movie night. 

The scale is up to you. It can be as simple as…

378 Views, 0 Comments

How Does Your Credit Score Affect Your Mortgage Interest Rate

It takes credit to build credit ­– most of us have heard this at some point in our early years of adulthood. Some of us heard it when we got our first credit card; others when they went to apply for a loan of some type and realized they didn’t have a credit score. The crux is that while it takes credit to build credit, it also takes credit to destroy credit. So, what exactly is “credit” when it comes to finances, and how does your credit score affect your mortgage interest rate?

Credit is essentially a numbering system that gauges how likely you are to repay borrowed money. The higher your score, the ‘safer’ you seem to lenders, and the lower your score, the ‘riskier’ you are.

The first step to building your credit is to…

337 Views, 0 Comments