Tag Archives: Tips

Should You Invest in Real Estate?

Does the thought of investing in real estate appeal to you? Well, now could be the perfect time to take the leap into the rental investment arena. The continued strength of the nation’s real estate market, along with the expectation that interest rates will remain low, should provide plenty of appeal for investors looking to ramp up their real estate portfolio.

According to a recent report released by Bank of Montreal Economics, there are a plenty of advantages to investing in commercial Canadian properties. Earl Sweet, senior economist and managing director at BMO Capital Markets has stated that “After a severe and protracted market downturn in the 1990s, the commercial real estate industry in Canada has been characterized by cautious development and prudent lending practices.” This calculated approach has enabled the sector to reamin extremely attractive to investors. Continue reading →

How To Buy A House When You Have Bad Credit

According to recent reports, more than one in eight adult Canadians are expected to declare bankruptcy or negotiate a debt settlement with creditors. And yet, Canada’s homeownership numbers are currently at a record high. This just goes to show you that devastated credit doesn’t have to leave you high and dry when it comes to entering the housing market. Granted, credit-challenged consumers are bound to encounter more than their fair share of bumps along the road to homeownership. Even so, poor credit history isn’t insurmountable. Here’s what you need to know if you’ve recently gone through a bankruptcy or consumer proposal but are still optimistic about buying your first home. Continue reading →

What if the Government Didn’t Back Mortgages?

Saving for a down payment on a home takes dedication, perseverance, and sacrifice. For many, it also takes a long, long time. According to a recent report from Rate Supermarket, come 2020 the average cost of a home in Canada will be $553,000. To accumulate a measly 5 percent down payment for such a home, recent graduates should expect to spend at least 12 years saving up. If you’re hoping to pack away 10 percent, prepare to squirrel away your savings for roughly 21 years.  Continue reading →

Housing Market Cooling Across Canada

The Canadian housing market has begun to correct itself, or at least that’s what the numbers show. A combination of market fatigue, stricter mortgage rules and a decrease in property affordability are believed to be contributing to the long anticipated correction. Home sales fell 5.8 percent in August from July. Sales are down 8.9 percent year over year.

With that being said, Canadian home resale prices edged slightly higher in August over July numbers. According to the Teranet-National Bank Composite House Price Index, overall pries of repeat sale single-family homes climbed 0.2 percent in August from July.

This is the smallest August gain in 12 years. Falling prices were also recorded in three of 11 markets surveyed by the index.  Continue reading →

What To Do When Housing Prices Fall

It appears as though the seemingly infinite rise of Canadian housing prices has finally come to an end. After years of marvelling at record breaking list prices and historically low mortgage rates, the tides have finally shifted. Phrases like “cooling market” and “slow sales” are gracing national headlines, causing buyers and sellers alike to contemplate the repercussions.

If we’re to believe what the experts are saying, real estate in Canada has hit a tipping point. According to the Canadian Real Estate Association, sales are down a staggering 30 percent compared to last years numbers. What’s more, the average house price has dropped by roughly 3.5 percent since July.  Continue reading →