Did you know that two out of three Canadian families own a house? That is one of the highest rates of home ownership in the world. And for good reason . Real estate is a great investment.Buying a home in BC - All you need to know.
Posted by Steve Harmer on
Buying a Home in British Columbia
Buying a home is the largest investment most of us ever become involved in. Yet people sometimes take less time over it than they do when buying a new car. That’s because it’s unfamiliar territory to many of us. We don’t know what questions to ask. We may take things for granted, rely on others when we shouldn’t, and sometimes we later wish we had known more about the process involved.
It is important for you to understand the the process that is normally involved in the purchase of a home, to recognize the significance of the documents you will encounter, and to understand the role of other people who may be involved in the transaction. Buying a home is a major event. This information will help you better…
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Being a first-time home buyer without guidance from qualified professionals is like using the internet to diagnose a serious illness -- it’s not going to end well. That’s the advice Toronto real estate agent and industry expert Karyn Filiatrault gives to millennials looking to enter the housing market.
Fear of rising interest rates is causing more Canadians to opt for fixed-rate mortgages over variable-rate alternatives that could save them thousands of dollars in payments, according to a leading expert.
British Columbia's NDP government will introduce tax measures designed to push down the price of housing by targeting vacant homes owned by out-of-province investors.
Multiple generations living under one roof isn't a new concept, but it is on the rise in North America, especially with millennials. This housing shift comes as a result of many factors, including work challenges and the rising cost of rent in most parts of the country. In fact, millennials are starting their adult lives after the worst financial crisis since the 1930s. This change has been the subject of much speculation and comparison to earlier generations, so personal finance expert Rubina Ahmed-Haq stopped by to help shine some light on why Generation Y is staying put for now.
Canada’s federal housing agency says new mortgage rules intended to cool hot markets are “working better than hoped.” However, housing markets remain out of balance with recent price spikes driven by large single family homes at the expense of much needed rental stock, Evan Siddall, CEO of Canada Housing and Mortgage Corp.
Many consumers will soon find their debt loads heavier now that Canada’s central bank and the country’s biggest commercial lenders have raised their benchmark rates by one-quarter percentage point.
As the real estate landscape changes, renting to own may provide a win-win for both owners and tenants.
Are you looking to buy your first home? Are you short on the down payment needed to qualify for a mortgage? That money you’ve been locking away into your RRSP could make the difference. The Canadian government offers borrowers The Home Buyers’ Plan (HBP), which lets you borrow funds from an RRSP to make a down payment for your first home purchase.