Real Estate Blog - homeowners

Going Away for the Winter: How to Secure Your Home

A winter escape is a popular choice among many Canadians. With crossborder travel reopened, many snowbirds are eager to flock south again this winter. The Canadian Snowbird Association (CSA) estimated 30% of Canada’s more than one-million snowbirds vacationed for the winter in 2020/2021 and predicted that number increased to about 90% during the 2021/2022 season.

With so many Canadians journeying south and abroad in the upcoming months, some homes across the country are left unoccupied for extended periods of time. If you’re planning a winter getaway—whether for a few weeks or a few months—it’s important to plan ahead and protect your investment. Here’s what you need to know about prepping and securing your home for your absence. 

Protect…

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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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Are Higher Fixed Mortgage Rates Here To Stay?

One question many Canadians are asking is are higher fixed mortgage rates here to stay? At the September policy meeting, the Bank of Canada (BoC) raised interest rates by 75 basis points, bringing the benchmark rate to 3.25 per cent, maintaining its hawkish approach to monetary policy. The central bank signalled that it would be prepared to keep pulling the trigger on rate hikes until there is sufficient evidence the consumer price index (CPI) is showing signs of coming down.

Although the Canadian annual inflation rate has eased from its 30-year high of 8.1 per cent in August, officials conceded that this was driven mainly by gasoline prices. The national economy endured “a further broadening of price pressures, particularly…

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Prepping Your Home for a New Puppy

After a long search you’ve finally found the perfect furry friend to bring home. Your world is about to change in the best way as flapping ears, a wagging tail, and a droopy tongue become your new normal. Before bringing home your new puppy or dog, there are important changes to make to ensure your pet is safe and happy in its new space, and that your home doesn’t get completely destroyed!

Flooring

When it comes to floors and dogs, hardwood and carpet both have their pros and cons. Hardwood is good because it’s easy to clean paw marks, accidents, and shedding fur. The downside to hardwood is it can be easily scratched by long nails. Waxing floors often, clipping pet nails, and taking long walks with your puppy can help extend the life of…

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What Reno Gives the Best ROI?

Will the carpet in my bathroom increase or decrease my property value? Let’s just say if you’ve asked that question then you’re in the right place to find out what’s relevant in the current Canadian real estate market, whether you’re browsing, buying, or selling.

RE/MAX® has been around since carpeting in bathrooms (please, no!) was a thing. Our 50 years of experience has taught us a thing or two about Canadian real estate. Don’t worry if you can’t keep up with everything there is to know about home-buying, selling and staging a property. That’s why we’re here – to clarify all your questions. And you can be sure that there are many, many questions.

So, How Much do People Really Know About Canadian Real Estate?

RE/MAX…

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What You Need To Know About Underfloor Heating

In ancient Rome, underfloor heating was the height of sophistication—a sign its owner was an individual of high status. When it came to Roman building methods, it was state-of-the-art, cutting edge, something you might have invited the local merchants round to see, with your hypocaust (underground furnace) at full tilt to show you meant business. These were expensive systems to maintain, requiring round-the-clock attention, probably by a small team of attendants, and vast amounts of fuel to drive the furnace. But what about underfloor heating today? Two thousand years later, we’re here to tell you what’s hot and what’s stone cold.

What is underfloor heating?

Let’s start with the basics. Underfloor heating is a method of temperature control, …

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10 Yard Work Tasks to Complete in the Fall

Autumn can be the most beautiful time of year for many, and the transition from summer to winter is often an enjoyable stretch for homeowners to prepare their yards for those post-winter glory days.

There are plenty of autumn jobs that score huge dividends for the coming months—tasks that go beyond closing down gardens. We’ve gathered some of the most important points to address, whether you’re doing it yourself or hiring pro contractors or landscapers.

1. Check eavestroughs, gutters, and downspouts

It doesn’t matter how little or how much snow you get where you live, all precipitation turns to water at some point, and that water can be a threat to your home if not addressed and routed away from problem spots. Your roof is your biggest…

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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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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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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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