Buying a home in need of renovation may seem daunting, but it's an excellent opportunity to create the space of your dreams. The purchase-renovation mortgage offers a flexible solution for financing both the purchase of your home and the necessary…
Canada to allow 30-year amortization for first-time buyers' mortgages on new homes. The federal government has announced a pivotal update set to take effect on August 1st, permitting 30-year amortization periods on insured mortgages exclusively for first-time homebuyers purchasing newly…
In a steadfast move, the Bank of Canada has once again maintained its key interest rate at 5%, marking the sixth consecutive hold since July. This decision underscores the bank's cautious optimism, as it awaits more definitive signs of sustained…
The Montreal real estate market is poised for a dynamic spring. The first quarter of 2024 revealed a market full of vitality, predicting a prosperous real estate season. The stabilization of interest rates by the Bank of Canada was a…
Could things heat up again in April? Hey everyone, let's dive into what's happening with Canada's spring housing market. The start of the year showed some mixed vibes, with the market swinging back and forth. However, there's a buzz that…
New homeowners often face an unexpected financial obligation shortly after purchasing a home, known as the "welcome tax." This property transfer tax, issued by municipalities, can be a substantial amount, necessitating prompt payment, usually within 30 days of receipt. What…
Cash damming is a financial strategy that transforms personal debt, which typically does not benefit from tax-deductible interest, into business debt, where the interest paid is tax-deductible. This involves employing a line of credit to cover business-related expenditures. Eligibility for…
Navigating the complexities of real estate can feel like solving the age-old question of the chicken or the egg. As a real estate broker in the industry for the last 26 years, I understand the challenges you face when deciding…
The Canadian government has decided to maintain the restriction preventing foreign individuals from acquiring residential properties within its territory until 2027, with the aim of addressing the housing affordability crisis affecting several cities across the country. Chrystia Freeland, the Minister…
In January 2024, the real estate market in Montreal and Quebec experienced a positive dynamic, marked by a significant increase in transactions and property prices. In the greater Montreal area, real estate transactions saw an 18% increase, with 2,077 properties…
