Revolutionizing Real Estate: How Technology is Changing the Game

The real estate industry has always been known for its traditional ways, but in recent years, technology has started to disrupt the way things are done. From virtual tours to online marketplaces, technology is transforming the real estate industry in exciting ways, making it more efficient and accessible for buyers and sellers alike.

One of the most significant impacts of technology on real estate is the rise of online marketplaces. Platforms like RE/MAX and Realtor.ca allow buyers to browse listings, schedule tours, all from the comfort of their own homes. This convenience has led to a rise in virtual home buying, with buyers sometimes purchasing properties sight unseen.

Another way technology is changing the game in real estate is through…

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How Much is a Down Payment on a House?

When you’re in the market for a new home, one of the most important questions you’ll need to answer is how much you can afford to put down as a down payment. In Canada, the amount of a down payment can vary greatly depending on the type of home you’re buying, the size of the mortgage you take out, and other factors. Knowing how much is required for the down payment on a house can help determine if you’re financially prepared for the purchase.

How Much You Need for a Down Payment on a Home?

• Down payment vs. deposit
• Calculating your minimum down payment
• Saving for a down payment

Saving for a down payment has become challenging for many Canadians. Rising housing prices are putting some homebuyers in a tough…

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Home Staging Tips for Sellers

Staging a home to sell is important because it helps create a favorable first impression for potential buyers, highlighting the home's best features and allowing buyers to visualize themselves living in the space. Staged homes often sell faster and for a higher price than homes that have not been staged. Here we discuss some tips for staging your home to sell.

Declutter
Remove any unnecessary items from your home, including personal belongings, furniture, and decorations. This helps to make your home look more spacious and organized.

Clean
Ensure that your home is spotless, including floors, carpets, windows, and bathrooms. A clean home will make a better first impression on potential buyers.

Depersonalize
Remove any…

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What is a Buyer Representation Agreement?

Whether you’re looking at a condo in the city or a brick home in the suburbs, the search for your dream home is an exciting time. For many prospective buyers, the period between the decision to buy and the day you get the keys to your new home takes a back seat to your dreams of the exciting times ahead. As a buyer, you need to be informed and educated through every step of the process. It can be challenging to set aside your search for the perfect window treatments when your agent is asking you to sign a document you don’t understand: the Buyer Representation Agreement (BRA). To help you tackle this, we are going to give you the short and sweet explanation of what a Buyer Representation Agreement is, so you can get back to the…

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Staging Your Home To Sell

Selling a home can be a daunting task, but one way to increase the chances of success is to stage the home. Staging is the process of making a home look its best by arranging furniture, adding decor, and generally making the home more attractive to potential buyers. Here are some tips for staging your home to sell:

Declutter: The first step in staging your home is to declutter. Remove any personal items, such as family photos or knick-knacks, and pack them away.  Donate or sell items you don't use. This will make the space look cleaner and less cluttered, which will help potential buyers envision themselves living in the home.

Clean: A clean home is more attractive to potential buyers. Take the time to deep clean your home, including the…

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Bank of Canada Raises Target for Overnight Lending Rate

Bank of Canada Raises Target for Overnight Lending Rate Again, Changes Language on Future Rate Hikes

The Bank of Canada hiked its target for the overnight lending rate by 50 basis points to 4.25% while continuing its policy of quantitative tightening but stated that looking ahead it would need to consider whether the policy rate should rise further—a much more neutral stance than previous announcements.

After the announcement, financial markets were pricing in the potential for one more interest rate hike by the third quarter of 2023.

The Bank noted economic growth was stronger than expected in the third quarter of 2022 and continued to operate in excess demand. The Bank expects growth to stall through the end of the year and into the…

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How Do You Pay Off Your Mortgage Faster?

Buying a home is a big investment and a huge commitment, but most homeowners will attest that the pay-off is worth the pains and strains of making those regular mortgage payments. Most people focus on their mortgage interest rate as a way of saving money (or at least, ensuring more of it goes toward your principal), but there are other ways to decrease the amount paid in interest. One way is to pay your mortgage off faster. More on that below, but let’s start with a basic mortgage 101.

What is a mortgage?

In order to buy a home in Canada, you’ll need a down payment of at least five per cent of the home’s purchase price (but it can be more). These funds are typically saved over time and can be boosted with the help of…

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Building vs. Buying a Home

In today’s market, you might be considering building vs. buying a home. This is certainly a viable option, but it has its advantages and drawbacks, just as buying a resale home does. There are many factors to consider, such as time-frame, location and design of the house. Let’s take a closer look at the difference between building and buying a home, so that you can make an informed decision.

Benefits of Building vs. Buying a Home

Customization of your home – This is a huge advantage of building a house. When you build a home from scratch, you have control of its various elements rather inheriting someone else’s preferences, from layout to materials right down to little things like what covers go on your light switches.

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Locking In a Variable Rate Mortgage

When mortgage interest rates were on a downward trend in the early days of the coronavirus pandemic, a variable mortgage rate made sense. With no signs of tightening on the horizon, the housing market boomed at extraordinary levels never seen before.

Now that interest rates are rising as the central bank attempts to rein in out-of-control price inflation, the discussion is how high mortgage rates will go. It is a crucial conversation, since rising rates will increase your monthly mortgage payments. While it’s challenging to forecast just how high mortgage rates will climb, Canada Mortgage and Housing Corporation (CMHC) thinks they will start to stabilize in 2024, which is when some market analysts expect the Canadian real estate market to…

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How to Make an Offer on a House

Regardless of where you’re buying or the market conditions, there’s one thing every homebuyer has in common: you have to make an offer to purchase a home. Whether you’re still in the browsing stages or have started to put your plan into action, as a prospective buyer, it is wise to do some legwork and gain insight into the process of making an offer. While your real estate agent is there to guide you, the more you know about the home-buying process, the smoother it will be. A smooth process is especially pivotal in a seller’s market, where you’ll need to act fast and take quick and decisive action when you find a property that interests you. This makes understanding how to make an offer on a house essential.

How to Make an…

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