Almost half a year has passed since the new mortgage rules that forced even homebuyers with a larger down payment to undergo a financial stress test have been rolled out. What has happened since then? Home sales have recorded double-digit drops in Toronto and other big markets. On a positive note, however, the pace at…
Carrying on from 2 weeks ago, as promised. Q: What kind of recurring costs can I expect? As you would guess, there are monthly fees to pay. These will include the maintenance of the building and common areas, and reserve fund contributions, which will cover any major repairs or upgrades. In the event of a…
This weeks’ blog is a Q&A we read about with real estate experts, who gave some advice on some important things to consider before signing a purchase contract for your new condo. Q: Who should I consult with when I want to purchase a condo? The CMHC suggests that prospective buyers consult with a real…
Most people experience a point in their lives when they need access to a large amount of cash, whether it be for a major purchase, home renovation, investment or an emergency. When you don’t have the funds on hand, you can always access the equity in your home through a cash-out mortgage refinance. As the value…
The real estate market in Ottawa is doing well. The mix of a low supply and high demand has created an environment where Ottawa area properties are selling quickly and often above asking price. Many buyers are missing out on homes they like because of the demand. But where are they going wrong? …
Working in the real estate industry presents its own challenges (and fun!), and given we have never touched on this topic before – now can be a great time to bring it up. So what is it that we do? We work for prospective business and home buyers to arrange loans. We act as intermediaries…
In our last blog, we touched up on ways first time homebuyers could still afford their dream place even with the new mortgage rules in place, and that parents helping out through gifting a down payment and money was one of the solutions. This week, we elaborate more on how parental help can help their…
We are now at the beginning of March, and the new mortgage rules are seeing their effects on potential future homeowners, especially younger people with lower income than baby boomers. These mortgage rules, however, should not completely stop you from going after your dreams! There are still ways to figure out a home purchase, without…
Occasionally, one of our blogs deviates from the main topic of conversation. As much as we enjoy working in mortgages and real estate and giving you value in the industry, we also care about the people who take the time to read our blog and wanted to use this blog’s opportunity to remind you all…
Over the last years and a half, most pieces of news concerning real estate in Ottawa have been very positive – many record breaking numbers of sales per month as well as new construction/renovation projects. Something very interesting is happening in Canada’s capital and we’ll be talking about it for this blog! In 2017, 17,803…
