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The Bank of Canada (BoC) announcement to pause rate hikes in early January served to re-invigorate home-buying activity in the Ottawa housing market. Against a backdrop of lower housing values and less competition, buyers took to the streets early in the second quarter, taking advantage of more favourable market conditions, including five-year fixed rates at…

Buying a home is a significant milestone for many Canadians, and as a first-time homebuyer, it can be an exciting yet overwhelming experience. With various steps involved in the home buying process, it’s essential to understand how to navigate through them and take advantage of government programs available to make the process more manageable. Whether…

Divorce can be difficult and emotional, and handling a mortgage after a divorce can add additional complexity. In Canada, several options are available for handling a mortgage after a divorce, and it’s essential to understand each choice’s financial and legal implications. Seeking professional help from a lawyer and financial advisor can be valuable in making…

Adding a secondary suite to your home can provide numerous benefits, including extra income and increased property value. In Canada, the demand for rental housing is high, making secondary suites an attractive option for homeowners who want to add value to their property while providing affordable housing options. Let’s explore the steps involved in adding…

Bank of Canada’s Interest Rate Announcement: Increase of 0.25% The Bank of Canada‘s overnight rate continues its upward trend. In this morning’s interest rate announcement, the Bank increased its key rate by 0.25%, to 5%, bringing the cost of borrowing up for a second straight month, to the highest interest rate since 2021. This marks…

During the red-hot pandemic-induced Canadian real estate market, it appeared that basic tenets of the home-buying process were tossed into the trash. At the height of the sizzling housing sector, where bidding wars heated up, conditions on a real estate offer when by the wayside. Many buyers were abandoning home inspections or home improvement requests…

Imagine that you’ve found your dream home, negotiated the perfect price, and eagerly awaited the keys. But just as you’re getting ready to celebrate, you’re hit with many fees and costs that seem to have come out of nowhere. It’s easy to get caught up in the excitement, only to be surprised at the end…

Ever wonder how Canadians envision their homes? Do you desire a spacious three-bedroom, two-bath detached house with a white picket fence in a rural community? Or how about a two-bedroom and den condominium in the heart of downtown?  Housing desires have transformed in recent years as our lives have also been dramatically altered. What was…

Summer has finally arrived, and many Canadians consider this a great time to buy a recreational property. The Canadian real estate market had record-breaking activity during the coronavirus pandemic, but now market conditions have normalized, with many markets shifting into balanced territory. Consumer confidence is improving, and with “cottage season” arriving soon, the recreational property…

Understanding the difference between condos and apartments is an important distinction for buyers and renters. The main difference between the two is that you can buy a condo, whereas an apartment is strictly available for rent. However, there is more to it than that. If you are asking yourself, “What is the difference between a…