June 2023

When it comes to a home purchase, many buyers get caught on the listing price, and forget about the additional expenses that come up in the transaction, such as closing costs and land transfer tax. So, what is land transfer tax, and how much is it anyway? In this article, we summarize everything you need to know.

Understanding Land Transfer Tax

A lan...

So you’ve made a successful offer to purchase the home of your dreams, or at least have taken that crucial first step toward home ownership. Now what? At this point, typically, there is a bit of a waiting period. Closing periods can take several weeks to a few months, but some essential buyer obligations must happen quickly.

Once your offer has been...

To qualify as a first-time homebuyer in Canada, you must meet the following criteria: you cannot have previously owned a property in Canada or abroad.

However, there are exceptions. It is possible to qualify as a first-time home buyer again after owning a home under the following circumstances:

• If you have separated from and no longer live with a spo...

Canada’s mortgage market appears to have stabilized. But do not tell that to the typical Canadians, as recent surveys have revealed that there is still plenty of consternation among homeowners and buyers, be it renewing their mortgages or being approved for a home loan.

This is what happens when interest rates rise to their highest levels since befo...