Whether you’re purchasing a new home or want to complete a refinance of your current mortgage, it’s important to understand the role of the home appraisal and how it can impact the outcome of your mortgage application. After you submit an application, your lender may require an appraisal, which is simply an unbiased determination by an accredited […]
Home appraisals are a vital part of most real estate transactions — and it doesn’t matter if you’re planning on selling your home or purchasing one first. Either way, you’re going to encounter a home appraisal contingency at some point. And, given the importance of the home appraisal process, you should know what to expect ahead […]
When listing your home, you may want to pre-emptively hire a home inspector to let you know what you should upgrade and fix before you officially list the property. However, if your home inspection has a long list of fixes, it’s difficult to know where to start and what to leave out. Here are a […]
If you’re on the hunt for a first home, or even settling in, you’re likely bracing for the inevitability of paying property taxes. You probably saw the annual property taxes displayed on property listings, and might be wondering who sets these rates, what purpose property taxes serve, and how tax rates are determined. Fortunately, you’re in the […]
If you’ve ever visited Ottawa, you know that there are numerous world-class museums and historic landmarks to discover, including Parliament Hill and the Rideau Canal. But our nation’s capital is more than a tourist attraction. The Ottawa housing market also has a lot to offer. With a population of nearly a million people, Ottawa is […]
Now that Prime Minister Justin Trudeau and the Liberals have secured a minority government after the 44th general election, will the Grits move ahead with their plan to ban blind bidding? With the state of the House of Commons essentially unchanged from before the election, the public policy pursuit might prove to be a challenging feat for the Trudeau […]
Purchasing a new home is an exciting milestone for any Canadian. To help make the experience as seamless as possible, it’s a good idea to get familiar with the different stages of buying a property before you get started. To help you familiarize yourself with the process, we’ve outlined the 5 Stages of Buying a […]
Canadian real estate is at a critical point. Declining housing affordability due to supply shortages continues to be the biggest challenge facing Canadian homebuyers, particularly first-time buyers. To improve these challenging market conditions and help more Canadians enter into home ownership, RE/MAX Canada is calling for the newly appointed federal government to lead a collaborative national housing strategy, […]
Canadian real estate experienced a spike in interest and activity during the last 18 months, despite COVID-19 – or, as some might have it, due to it. The moratorium on travel, the rise in remote working and learning, lockdowns and general economic uncertainty have prompted many Canadians to set their sights on the Canadian housing […]
Earlier this summer, new changes were announced for the federal mortgage stress test, shifting the ground again in terms of how much house new and seasoned home buyers are qualified to purchase. In April, Canada’s financial regulator, the Office of the Superintendent of Financial Institutions (OSFI), proposed an increase for the stress test’s minimum qualifying rate on uninsured mortgages. […]