Author: realtorjags
-
Canada’s Real Estate Comeback Ignites
Elevated rates and condo pullback push developers toward purpose-built rentals—especially larger, family-sized units in high demand. Rental demand stays strong nationwide, with new supply easing price pressures after years of rapid increases. Seniors’ housing becomes a top-tier asset class, spurring innovation in mixed-use retirement communities and modernized operations. Forecasts show private capital driving the next Read more
-
Everyone’s Stuck in Toronto… but You Might Still Snag a Deal
Everyone else stuck in Toronto — buyers suddenly hold unexpected negotiating power right now. Inventory exploded to 21,241 units — that’s a record 23.5-month supply; builders are pausing. Sellers lowering asking prices; MLS HPI slipped about 5% year-over-year. Weird split: condo prices up ~2.5% while single-family values dropped ~7.4% Practical moves: low offers, inspections, builder Read more
-
Canadian First-Time Buyers Bring Experience to Homeownership
A global study finds Canadians enter homeownership later than most, with Vancouver buyers averaging age 46, Toronto 40, and Montreal 39. High down payments and housing prices in these metros create significant barriers. While monthly affordability is improving due to lower rates and prices, saving for a down payment remains difficult. Policy measures help, but Read more
-
Tips for First-Time Home Buyers in Canada
Canada's real estate market presents challenges for first-time home buyers due to limited supply, strict mortgage guidelines, and high prices. Government programs like the Home Buyers’ Plan, Home Buyers’ Tax Credit, and First Home Savings Account offer assistance. Buyers should evaluate their budget, understand local market conditions, and prepare for potential bidding wars. Mortgage pre-approval Read more
-
How the FHSA and Lower Interest Rates Can Help You Buy Your First Home
Lower interest rates and mortgage rule changes in Canada make home buying more accessible for first-time buyers. The First Home Savings Account (FHSA) allows tax-free savings up to $40,000 for a down payment, with contributions deductible and withdrawals tax-free if used for a first home. Buyers can combine FHSA with the Home Buyers Plan to Read more
-
Empowering First-Time Home Buyers: Expert Tips
Establish a Clear Budget: Determine your budget by evaluating income, expenses, and potential mortgage rates to guide your home search. Prioritize Your Needs vs. Wants: Make a realistic list of must-haves and nice-to-haves to focus your home search. Be Prepared for Hidden Costs: Consider closing costs, taxes, insurance, and maintenance when budgeting for a home. Read more
-
Smart Mortgage Planning for Newcomers
Newcomers must build Canadian credit history early—secured cards, on-time bills, and monitored reports boost approval. Lenders assess credit, income, job stability, debt ratios, and down payments—typically 5% to 20%. Budgeting for mortgage readiness includes saving 20% down payment, taxes, insurance, and maintenance costs. Mortgage brokers and real estate agents help newcomers secure best rates and Read more
-
First-Time Homebuyer Tips: Here’s What You Need to Know
First-time homebuyers should prepare by budgeting for mortgage, taxes, insurance, and maintenance. Getting pre-approved for a mortgage clarifies affordability. Research local markets and factor in closing costs. Consider home inspections to avoid surprises. Decide between buying resale or building new, weighing costs and energy efficiency. Plan for future needs, resale value, and ongoing maintenance. Take Read more
-
Toronto Dominates Canada’s Luxury Home Sales
Slide 1 Toronto luxury homes still steal the spotlight despite broader market slowdown. Slide 2 Most high-end sales happen right in the heart of Toronto city. Slide 3 14 of 22 top GTA luxury-selling neighborhoods are inside Toronto proper. Slide 4 Eight neighborhoods saw more $3M+ luxury sales compared to last year. Slide 5 Luxury Read more
-
How to Save for a Down Payment
Saving for a down payment is crucial for homeownership. In Canada, minimum down payments vary by home price, with 20% often preferred to avoid mortgage insurance. Saving strategies include cutting expenses, using high-interest savings accounts or First Home Savings Accounts (FHSA), and planning for the Home Buyers’ Plan to borrow from RRSPs. For short-term goals, Read more