Ohio

Canada Housing Trends Market Update

Limited Benefit in High-Cost Areas: New rules won't significantly help buyers in expensive markets like GTA and Vancouver.Applies Only to New Builds: The 30-yr amortization extension is restricted to newly constructed homes.

Canada's New Amortization Rules Improve Housing Affordability?

Previously anticipated interest rate reductions may not materialize, affecting market growth predictions.An influx of sellers has expanded the market's inventory, potentially stabilizing prices.

Canada: Poised for Growth or Crash?

Residential construction demand drives global Real Estate expansion, particularly in urbanizing economies.Increased government investment in infrastructure fuels construction sector growth, especially in emerging markets.

Global Real Estate Market Forecast to 2031

The budget introduces $52.9B in new spending, leading to a projected $40B deficit for the fiscal year.$8.5B is dedicated to creating up to 4M new homes by 2031, aiming to alleviate the housing crisis.

Canada's Bold Budget Targeting Housing Crisis and Wealth Inequity

Furnished executive rentals cater to business professionals, offering short to medium-term stays with high demand and steady occupancy.These rentals command higher rental rates due to convenience and amenities, boosting revenue potential.

Furnished Executive Rentals: A Niche for Investors

There’s no specific exemption for cottages; capital gains tax applies on the sale of a vacation home.Use renovations, joint ownership, and beneficiary planning to minimize capital gains tax.

Minimize Capital Gains Tax on Cottage Investments

Real Estate activity is up, ↑ 28.4% increase in inventory, creating more opportunities for buyers and sellers.Despite more listings, sales are slower.

Summer Real Estate Market Tips

BMO's Expectation: Next rate cut possibly in September.
RBC's View: May's inflation increase is 2024's first significant upside.

Canada: Market Reactions and Future Outlook

Rate Cuts Impact: Bank of Canada rate cuts may not lower mortgage costs.
Variable vs. Fixed Mortgages: Variable-rate mortgages respond to cuts; fixed rates depend on bond yields.

Bank Rate Cuts' Mortgage Impact

Review the contract carefully to ensure you are getting the agreed-upon interest rate and understand any lender fees.
Be aware of your prepayment privilege and any prepayment penalties associated with paying off your mortgage early.

Avoid Hidden Costs: Checks Before Signing Your Mortgage

Mortgage brokers can show you a wider range of mortgages from different lenders, while banks only offer their own mortgages.Mortgage brokers represent your interests during the application process, while you deal directly with the lender at a bank.

Mortgage Broker vs. Bank: Which Will Save You More?

You can skip the wait time required to save for a down payment and become a homeowner sooner.
You'll face higher monthly payments and interest rates due to the lack of a down payment.

Pros and Cons of Loans With Zero Down

Set a goal: Determine what you want to achieve with the renovation and look for ideas online or in magazines.
Build a budget: Consider the return on investment and build a realistic budget.

5 Key Steps to a Successful Home Renovation

Start searching for a new policy right away to avoid gaps in coverage.
If unable to find a replacement, consider Fair Access to Insurance Requirements (FAIR) plans as a last resort.

What to Do if You Lose Homeowners Insurance

Location: This includes proximity to desirable amenities, views, noise levels, etc.
Comparable homes nearby: Look at recent sales prices of similar homes in your area.

5 Key Points to Determine How Much Your Home Is Worth

Assess feasibility; check legal constraints like local building codes.
Understand budget; renovation costs range from $2K to >$70K.

Save 30% for Unexpected Renovation Costs

Buyers should consider the number of residents; each person ideally needs 600 sq ft.
The tiny house movement promotes living in small homes, usually under 400 sq ft.

Ideal Square Footage/Person: 600 Sq Ft

Enhance curb appeal to boost home sale price during selling season.
Deep clean the home's exterior using a pressure washer for maximum impact.

First Impressions Lead to Higher Offers

The Real Estate market is unpredictable, with some properties selling quickly and others lingering on the market.
Location and condition are often, but not always, factors in how quickly a property sells.

Tips for Winning in a Chaotic Housing Market

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