Found 5 blog entries tagged as Canadian real estate market.

For many aspiring homeowners, the dream of purchasing their first home may seem out of reach due to various factors, including financial constraints and stringent mortgage approval processes. In such cases, exploring the option of rent-to-own homes can provide a viable alternative. This guide aims to demystify the rent-to-own process, offering valuable insights and guidance for renters looking to transition from leasing to homeownership.

Understanding Rent-to-Own Homes

Rent-to-own, or lease-to-own, is a real estate arrangement where tenants have the option to buy the property they are currently renting after a specified period. This arrangement allows prospective buyers to accumulate a down payment while residing in the property, providing a…

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Canadian real estate Ottawa

It is no secret that the Canadian real estate market has been shifting over the last year. Home prices have tumbled, and sales activity has fallen. The Bank of Canada (BoC) has been raising interest rates since March 2022 to return the annual inflation rate to its two-per-cent target rate. In the process, this tightening campaign has increased mortgage rates and cooled off Canada’s red-hot housing sector.

But with the central bank still expected to pull the trigger on rate hikes for the next few months to ensure inflation has been defeated, what does this mean for the Canadian real estate market, especially with the typically busy spring buying season?

It could be a terrific opportunity for homebuyers, especially with…

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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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You want to buy a cottage, but can you afford a cottage? At the height of the coronavirus pandemic, cottages became hot commodities across the country and prices skyrocketed. Traditionally, these properties were considered recreational by nature, visited on weekends during the summer or for seasonal maintenance by winter.

But why can’t you live in your waterfront cottage all year long? This was the question many households had during the pandemic. When they had their answer from employers by way of remote work, they packed up their things and relocated to the likes of Muskoka, the Kawarthas and Haliburton, to buy one of the many beautiful cabins, chalets and cottages in the region.

Now that the Canadian economy is reopening, offices are opening…

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Climate change risk disclosure

Governments prioritize updating national flood maps, to help Canadians buying or selling a home assess climate change-related risk more comprehensively

RE/MAX Canada’s latest report looks at the Canada real estate market through a lens of climate change and the risks to homebuyers, which include displacement due to extreme weather events, higher insurance premiums and compromised liveability, and are already being felt by homeowners from coast to coast.

According to the Insurance Bureau of Canada, the estimated trend of the overall costs of catastrophic losses has increased from approximately $1 billion in 2005 to almost $2.5 billion in 2021.

“These climatic stresses are increasingly colliding with federal and…

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