Blogs

What Can We Expect From the Ontario Housing Market in 2024? The Canadian housing market is a complex landscape, influenced by a myriad of factors ranging from interest rates to population growth to government policies. As we delve into the intricacies of this market, it becomes apparent that both buyers and sellers are engaged in […]

Understanding Deposit Protection in Ontario’s New Home Market Considering the excitement of buying a new-build home, it’s natural to feel a mix of anticipation and concern. In Ontario, however, new home buyers can breathe a little easier. With deposit protection in place, there’s a safety net that safeguards your investment in case of unforeseen circumstances. Tarion,

Economists Analyze Bank of Canada’s Rates The recent decision of Bank of Canada to maintain its interest rates at five percent for the sixth consecutive announcement didn’t come as a shock to experts. However, it did serve as a signal for potential cuts in the coming months, particularly during the summer. Governor Tiff Macklem emphasized

Insights into the GTA Real Estate Market: Navigating the Dynamics Amidst the aroma of freshly brewed coffee, let’s delve into the intricate dynamics of the GTA Real Estate Market (Greater Toronto Area) through the lens of The Condo Connect’s monthly market report for March 2024. In March 2024, the GTA witnessed 6,560 sales through TRREB’s

Toronto Real Estate Prices Rise Despite Lowest Sales since 2009 In March, the Greater Toronto real estate market experienced a remarkable surge in home prices, with the benchmark or typical home appreciating by 1.8%, equivalent to a staggering $19,700 increase, reaching a new level of $1,113,600. This significant uptick in prices is particularly striking when

CANADIAN POPULATION BOOM FUELED BY TEMPORARY RESIDENTS There has been a remarkable surge in its Canadian population growth, reaching unprecedented numbers in recent years. According to data from Statistics Canada (Stat Can), the population growth in 2023 was the highest in over fifty years. What’s particularly striking about this growth is the predominant role played

Co-ownership: An Answer for Canadians Navigating Property Challenges. Rising borrowing costs are causing numerous prospective Canadian homebuyers to reconsider their immediate plans. A recent survey from Zoocasa, involving over 1,600 of its readers, revealed that 67% of Millennial participants postponed their home buying decisions, largely due to escalating interest rates. However, 65.9% still expressed a

Decoding the Dynamics of Development Charges Development charges are fees levied by municipalities on developers, homebuilders, and institutions when they undertake construction or development projects on land. These charges help municipalities cover the costs of additional municipal services and infrastructure necessitated by population growth from the new development. The funds can be allocated towards both

How to Prepare Your Canadian Home for Winter If you’re buying a home or condo during its pre-construction phase, you and the seller or builder will likely negotiate a move-in date. ​ This is the “closing date,” or “settlement date,” for freehold properties. This is often referred to as the “occupancy date” for condos. ​

5 tasks to be accomplished by the end of PDI. When your new home is complete and ready for occupancy, the builder will lead you on a walkthrough known as the pre-delivery inspection (PDI). If purchasers of freshly constructed houses follow this procedure to the letter, they will have a far better time as homeowners