Found 3 blog entries tagged as mortgage payments.

What Are the Monthly Expenses of Carrying a Home

When prospective homebuyers are exploring the Canadian real estate market and searching for a residential property, many typically only concentrate on the sale price, monthly mortgage payments and interest rates. But this doesn’t tell the whole story. To get a more-accurate picture, and create a realistic budget, homebuyers should find out what are the monthly expenses of carrying a home.

In recent weeks, many reports have surfaced suggesting that some buyers regret their decision to buy at the height of the market, which peaked during the pandemic. While the primary concern is that housing prices have started to come down and borrowing costs have begun climbing, potentially eating away at equity, families are also worried…

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Most affordable Canadian real estate markets_Saskatoon

Despite recent cooling in Canadian real estate markets due to rising interest rates, the fact remains that housing prices are still hovering at a high, relatively speaking. Add to this the record-high inflation rate, which reached 8.1 per cent in June, up from 7.7 per cent in May, and there’s no arguing that housing affordability in Canada has taken a big hit. While this is particularly true in major markets such as Toronto and Vancouver, as well as their suburbs, there’s still affordable housing to be found in Canada – and Canadians are willing to relocate to find it.

RE/MAX Canada’s 2022 Housing Affordability Report analyzed 24 major housing markets across the country (for Quebec market insights, please visit RE/MAX…

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You may breathe a sigh of relief once your offer to purchase a home has been accepted, but you’re not quite done yet. Between the time you come to terms with the sellers and the moment you finally put your key in the front door, you’ll be navigating the closing process—along with its associated costs.

There are multiple steps involved in the transfer of a home. While closing times can vary, it can take up to three months between an accepted offer and signing day, notes David Stevens, a REALTOR® with Royal LePage Coast Capital Realty in Victoria, British Columbia. 

This includes time for processing the deposit, conducting a title search, getting a home inspection organized, finalizing the purchase agreement, the lender’s property appraisal, and…

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