Want to Build on Your Own Land? Here Are Five Things You Can Count On From Your Contractor If you want your custom-built new home in Ontario to be covered by the province’s new home warranty programme, you must hire a contractor or builder registered with the province as a new home builder and seller. […]
Fitch Expects World’s Biggest Real Estate Price Correction in Canada A major credit rating agency predicts deteriorating conditions for the Canadian housing market. The most recent client risk assessment from Fitch Ratings for the mortgage bond market has been withdrawn. According to the agency’s report, soaring global real estate prices are likely to correct, with
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How To File A Warranty Claim And What You Can Anticipate There has been a recent surge in the population of small towns in Ontario’s rural areas. More and more people migrate there from the city’s crowded core. The pandemic has helped to speed up this migration, as telecommuting has already proven to be an
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Three Improved Ways to Understand Your Warranty Purchasing a home in the pre-construction phase can be a thrilling adventure. In addition, it may be quite lengthy. Your move-in date may be months or even years away from the time you sign the purchase agreement. The Ontario New House Warranty Program affords you certain guarantees as
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Can I Have A New Home Warranty Even If It’s Not New? Did you buy a previously owned house recently? A new home warranty may still be in effect if the home is less than seven years old. For the most part, Ontario’s new construction warranties cover a period of seven years. A fact that
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Is it necessary to pay Toronto’s new vacant home tax? The new Vacant Home Tax in the City of Toronto has begun to be levied against homes in the city. Unless exempted, the tax is levied on dwellings that were unoccupied for more than six months in the preceding calendar year. Many unwary homeowners may
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Essential facts about mortgage A mortgage, at its most basic, is a debt taken out to finance the purchase of real estate. A mortgage, like any other loan, has parameters such as an interest rate and an amortisation (payment) schedule. Mortgages are secured by the collateral of the home itself. This means that the mortgage
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Is it ok to invest in a home? As a homeowner, you have control over your living situation and financial future, rather than being at the whim of a landlord who can unilaterally decide to stop renting out the property at any time. Canadian real estate is a safe bet because of its historical trend
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After Variable Shock, Canadian Homebuyers Choose Fixed Terms Overstimulated Homebuyers in Canada are avoiding adjustable-rate mortgages. Mortgage borrowers in Canada favoured fixed interest rates over variable ones in October, according to data from the Bank of Canada (BoC). At the beginning of the year, a majority of new borrowers selected adjustable-rate mortgages. As rates return
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More options available for the buyers while prices are breaking records Although Canada’s real estate gave several options to the home buyers in February, the increasing demand gulped the supply, ultimately leading to a new record of high prices. According to the CREA, there was a rise in home sales by 4.6% in the month
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