Rising home prices are keeping Canadians from starting families
Posted by Steve Harmer on
It may not be official, but Canada’s most expensive cities for housing seem to have a “one-bedroom policy” and millennials are no longer buying in.
A new survey from ratesupermarket.ca finds 72.1 per cent of millennials believe their ability to start or expand their family is directly impacted by real estate prices in their region. In Toronto, young families are now facing a detached home that sells for an average price of $1 million, while in Vancouver it’s almost $1.6 million.
There is a notion that if you don’t buy the house with the nice backyard something is wrong with you
The option being rejected by millennials, and other segments of the population, is to start household formation in condominiums — 60 per cent of which are…
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As they say, the cure for high prices is high prices.
There are distinct advantages to having a Realtor® acting for you in buying or selling a property. With careful selection, you can benefit greatly from the skills of a knowledgeable and sincere Realtor®. There are a number of approaches to finding a good real estate agent. For example, friends, neighbors, and relatives may have the names of agents that they have dealt with and would recommend. Open houses also provide an opportunity to meet Realtors®. Newspaper ads list the names and phone numbers of agents who are active in your area. “For Sale” signs provide an agent’s name and phone number. And real estate firms in your area can be located through the Yellow Pages. Any of course, the Internet is one of the most popular methods of research…
Mortgage rates weren’t supposed to make record lows in 2015, not if you asked economists and the Bank of Canada two years ago. But they did. And despite all the chatter about the first U.S. rate hike since 2006, Canadian rates could do it again in 2016.
A buyer who fails to close on a purchase may be risking more than just the deposit - you could be looking at damages, says lawyer Richard Bell
A common topic among real estate buyers is whether or not they should offer a price that is much lower than the listed price. It's an interesting concept, but one that is not without its pitfalls. Submitting an offer is one thing, but getting the offer accepted is another thing altogether. Let's take a look at the different factors to consider:
Most purchase and sale agreements come in standard formats, with standard clauses, and are drafted by the builder or real estate board. There are generally spaces throughout the agreement for additional, customized clauses to be added.
You’ve had this feeling before. You’re not totally sure how things are supposed to happen. A million questions are bubbling on your lips. You know your goal, but you need some guidance on how to get from start to finish.
When the time comes to sell your home, you may be tempted to sell it yourself. There is only one reason for doing so, and that is saving on a real estate commission. Other motivation could be a personal challenge or learning experience, but basically the desire to save money is the main motivator. You may indeed save money, but on the other hand, the saving could be an expensive illusion.