What to Know About Buying a House with Friends
Posted on Apr 25, 2024 in Housing Trends
In the face of an ever-challenging housing market, Canadians are getting creative with how they acquire their first homes. Recognizing the hurdles of high property prices and the complexities of securing a mortgage individually, many first-time homebuyers are now exploring the prospect of buying homes with friends. This trend represents an inventiv...
Why Downsizing Could Be the Best Move for Your Retirement
Posted on Apr 16, 2024 in Moving & Relocating
What It Means to Be House Poor – and How to Avoid It
Posted on Mar 15, 2024 in Homeowners
You’ve got your mortgage pre-approval, and you’re shopping the market for your perfect home. If you find one that’s priced too close to your limit, you run the risk of being house-poor. Let’s look at what it is, what you can do to avoid it, and what to do if you are already house-poor.
The Costs of Owning a Home
When you begin the process of looking...
How is Mortgage Interest Calculated?
Posted on Feb 28, 2024 in Mortgages
Will interest rates come down in 2024? This has been the million-dollar question for the Bank of Canada (BoC). For investors, it is almost certain that the central bank will start pivoting on monetary policy and pulling the trigger on rate cuts. Indeed, now that inflation is inching closer to the institution’s 2 percent objective and the Canadian e...
How are Canadian Mortgage Rates Determined?
Posted on Jan 26, 2024 in Market Conditions
Canadian mortgage rates have been in a state of flux for the last year. The pandemic prompted a trio of interest rate drops, bringing the benchmark rate down to 0.25 per cent. This, in turn, resulted in a housing boom that saw many homebuyers stretch their financing to the limit in order to be able to buy a home. Now that the boom has passed and in...
What does ‘AS IS’ property purchase mean in Real Estate?
Posted on Jan 18, 2024 in First-Time Buyers
Purchasing a home typically begins with making an offer, also referred to as the agreement of purchase. This document outlines the necessary conditions that must be met to finalize the deal. Common conditions typically include securing mortgage financing and sometimes undergoing a home inspection.
The concept of purchasing a property “as is” indicat...
The concept of purchasing a property “as is” indicat...
