An absorption rate is a measure of evaluating the strength of the real estate market by calculating the number of properties sold (usually within a month) versus the number of properties available for sale at the end of the period. The higher the number, the stronger the market. The calculation shows how long it would take to sell all the current inventory available for sale given the current market conditions. For example, we have 1,000 active listings, and within the last month 200... [read more]

On September 24, 2024 The Government of Canada announced significant changes to the mortgage rules qualifications. The two changes are: Increasing the $1M price cap for insured mortgages to $1.5M. Expanding the eligibility for the 30-year mortgage amortizations to all first-time home buyers, and to all home buyers of preconstruction homes.   Increasing the $1M price cap from $1M to $1.5M for insured mortgages. This is a significant change for buyers who could afford... [read more]

What is the interim occupancy, and occupancy fee. When it comes to buying new pre construction properties, things can get complicated and are quite often full of surprises, items which are often misunderstood are the interim occupancy period and the occupancy fees. What is the interim occupancy period? The interim occupancy period is when the buyer can move in and enjoy the property, the project hasn’t been fully completed, and the title hasn't been transferred. The occupancy... [read more]

Some buyers wonder if they should hire a buyer’s agent, or they should represent themselves. Below we will discuss different options, what to be aware of, pay attention to and what to avoid. First off it is important to mention that the buyers aren’t required to use an agent, they can represent themselves, in Ontario you as a buyer are required to use a lawyer to complete the transaction, but you are not required to use a realtor when buying the property. There are over... [read more]

We have been asked on many occasions about the RRSP Home buyers plan and thought it would be a good idea to explain the details from the beginning to the end of how it works, and what to do. What is Home Buyers Plan. A home buyers plan allows you to withdraw up to $60,000 per person (if you are a couple you can withdraw up to $60,000 each, for a total of up to $120,000) for the purchase of the qualifying home for yourself or for a related person with a disability. You can only withdraw... [read more]