Deposit and down payment–two words that are commonly used and often interchanged. While they’re both upfront costs in the home buying process, the two terms are entirely different.
February 2024
First impressions are everything, especially when it comes to selling your home. Make your interiors and exterior spaces as appealing as possible because potential buyers want to envision themselves living in your home. If you’re considering putting your home up for sale, now is the ideal moment to develop a checklist to ensure you stay on the right path. We’ve compiled a list of the important tasks you need to consider before getting your home ready to sell.
If, at first, you don’t succeed in selling your house, try and try again? For many residential property owners in today’s Canadian real estate market, it can be challenging to sell a home, whether because of the listing price or higher borrowing costs. In a more balanced housing sector, relisting can be more common to witness. Relisting refers to putting a property back on the real estate...
Is Canada experiencing the Baby Boom all over again? Yes and no.
Since the beginning of 2022, the Bank of Canada (BoC) has been on a crusade to vanquish inflation in the Canadian economy by engaging in a quantitative tightening (QT) campaign. This is a blend of raising interest rates and trimming its balance sheet, which is filled with government and corporate bonds and mortgage-backed securities.
We can all agree with this — buying a house is a milestone. However, this can be financially draining due to mortgages and high interest rates. Paying your mortgage for decades may seem overwhelming, especially for first-time home buyers and those with limited financial resources. However, don’t give up just yet on purchasing your dream home. We’ll share nine ways to help you save on your...
A year ago, housing affordability dominated national conversations as the Canadian real estate market exploded in growth across major urban centres and rural communities alike. This year, the conversation has ostensibly changed, with buyers, sellers, market analysts and industry experts discussing the path the Bank of Canada (BoC) will take in 2024 and immigration levels. Will the central bank cut...
When you purchase a home, a down payment is typically applied to the purchase price, and the balance is to be paid off over your term of the mortgage. The loan you receive from a lender in order to pay for the house is called a mortgage. Simply put, a mortgage is a legal and binding agreement between a lender and a borrower for a specific amount of money that must be paid back within a predefined...
During the pandemic-era housing boom, many homebuyers purchased residential properties at rock-bottom mortgage rates. In response to the national economy’s pressures, the Bank of Canada (BoC) slashed interest rates to near zero, allowing prospective homeowners to obtain greater purchasing power and acquire a detached house, townhome, or condominium suite that might have exceeded their initial budgetary...
While open houses have been a popular traditional marketing tactic, their effectiveness may be debatable in today’s tech-savvy world. Many buyers conduct extensive research online before visiting a property in person, making open houses less important in the overall marketing strategy.