A move-up buyer is someone looking to sell their current home and purchase another one that is typically larger, more expensive, or better suited to their evolving needs. They are distinguished from first-time homebuyers because they have already bought a home and have built equity in their existing property. Some move-up buyers might be looking…
You’ve likely heard people lauding the benefits of home ownership. Canadian real estate has historically seen solid long-term gains, which bodes well for existing homeowners and those who plan to buy and keep the place for the long term. There are several other benefits of owning a home, including a roof over your head, a…
In recent years, affordability has been one of the chief topics in the Victoria real estate market, whether housing prices or higher mortgage rates. According to the Victoria Real Estate Board (VREB), the Home Price Index benchmark price for a single-family home in November was nearly $1.3 million, up three per cent from the same…
An affordable real estate market in the Ontario housing sector? This might be hard to believe at first, but there is a place in the province where prices are certainly in the realm of affordability, something that prospective homebuyers have been desiring for years. The Sault Ste. Marie real estate market is the cheapest city…
This past summer, the nation’s chief bank regulator imposed new rules against home equity lines of credit, also known as HELOCs. The Office of the Superintendent of Financial Institutions (OSFI) installed a cap on borrowing available through HELOCs as part of efforts to strengthen Canada’s banking system. In other words, many Canadians will notice a…
Home-buying activity continues at a frenzied pace in the Calgary housing market, as affordable housing values and lower tax rates incentivize an increasing number of out-of-province buyers to move to Alberta, according to RE/MAX Canada’s 2024 Tax Report. In the first three quarters of 2023, the province welcomed just over 45,000 interprovincial residents, according to…
After a flurry of activity at luxury price points in the Toronto housing market in the final quarter of 2023 due to upcoming changes to the city’s 2024 land transfer taxes, the market has slowed in the Greater Toronto Area, according to RE/MAX Canada’s 2024 Tax Report. Sales are currently trending on par or slightly…
A significant uptick in sales and values in the Winnipeg housing market in the last six weeks of 2023 has set the stage for home-buying activity in 2024, according to findings from RE/MAX Canada’s 2024 Tax Report. Listings that had lingered on the market were quickly snapped up, some in multiple-offer situations, between mid-November and…
Real estate uncertainty has seeped into January 2024, and buyers in the Halifax housing market are banking of the prospect of lower interest rates down the road to revitalize home-buying activity. Demand remains relatively healthy in hot pocket areas, where well-priced properties are selling in short order, but in areas where greater selection exists, turnover…
The tax burden is weighing heavily on buyers in the Greater Vancouver housing market, where housing values are amongst the highest in Canada. Yet first-time, move-up and downsizing homebuyers remain determined to move forward, regardless of tax implications. RE/MAX Canada’s 2024 Tax Report found that home-buying activity in the Greater Vancouver Area is off to…
Owning a home is a keystone of wealth… both financial affluence and emotional security.