Real Estate News: The Latest, Top Articles in Ontario Canada

What a Realtor Does For You Many people use the terms “real estate agent” and “Realtor” interchangeably. While the terms are related, they hold a key distinction. Understanding the Role and Requirements of Realtors helps you choose the right professional for your property journey. Every home buyer and seller should know who they are working […]

Understanding Real Estate Agent Fees and Commissions The complexity of realtor fees and commissions can feel overwhelming for both first-time buyers and seasoned property investors. However, it is an essential part of the real estate process that we cannot ignore. In this article, we will guide you through the intricate web of these fees and […]

Effective Strategies for High-End Property Sales Selling a high-value home requires a distinct and sophisticated approach. The standard methods used for typical properties are often insufficient for the premium market. A successful transaction depends on a deep understanding of the affluent buyer, impeccable presentation, and a precisely executed plan. Effective luxury property sales and marketing […]

Realtor Selection and Relationship – Creating a Successful Partnership Choosing a realtor is more than a simple decision—it is a strategic maneuver in the journey of real estate. An adept realtor holds the power to simplify the process of buying or selling a home, to ensure you get the best deal possible, and to convert […]

Question: What is CCIM: Certified Commercial Investment Member? Answer: CCIM is a designation for professionals in commercial real estate, signifying expertise in financial and investment analysis, and negotiation. What is CCIM: Certified Commercial Investment Member? Elevating Real Estate Expertise The Certified Commercial Investment Member (CCIM) designation represents a pinnacle of competence in the real estate […]

Question: What is CAP: Capitalization? Answer: CAP rate is a real estate metric estimating investment return, calculated by dividing annual net operating income by property value. What is CAP: Capitalization? Capitalization in Real Estate Capitalization, often abbreviated as CAP, is a fundamental concept in the real estate sector. It’s a tool used to determine the […]

Question: What is ARV: After-Repair Value? Answer: ARV is the estimated market value of a property after improvements and repairs, used to assess potential investment returns. What is ARV: After-Repair Value? Unveiling the Mysteries of After-Repair Value When starting out in the realm of real estate investments, the concept of After-Repair Value (ARV) emerges as […]

Question: Is There Capital Gains on Inherited Property in Canada? Answer: Capital gains tax does not apply to inherited property in Canada directly upon inheriting. The deceased is deemed to have sold the property, and their estate pays any resulting tax. Your cost becomes the property’s value at that time. You only pay capital gains […]

Question: Do I Have to Pay Taxes on a House I Inherited in Canada? Answer: No, you do not have to pay taxes on a house you inherited in Canada. Canada has no inheritance tax. The deceased’s estate is responsible for any capital gains tax on the property’s increased value, which is often exempt if […]

Question: Can Siblings Force the Sale of Inherited Property in Canada? Answer: Yes, siblings can force the sale of inherited property in Canada. If co-owning siblings cannot agree, any one of them can apply to the court for a partition or sale order. The court will typically order the property to be sold, with the […]

Question: What Happens If You Inherit a House with a Mortgage in Canada? Answer: If you inherit a house with a mortgage in Canada, you inherit the property and the mortgage debt. The estate is initially responsible for payments. You can assume the mortgage if the lender approves, pay it off using estate assets, or […]

Question: What Happens When You Inherit a Property? Answer: When you inherit a property the estate executor first settles any taxes, including potential capital gains on the property. The title is then legally transferred to you. While there’s no inheritance tax, you will be responsible for capital gains tax if you later sell it for […]

Question: How Do I Avoid Inheritance Tax on My Property in Canada? Answer: Canada has no inheritance tax. However, your estate may pay capital gains tax upon your death. The principal residence exemption can eliminate this tax on your main home. For other properties, estate planning strategies like joint ownership or trusts may reduce taxes. […]

Question: What Should Be Included in a Possession Day Checklist? Answer: A possession day checklist should include items such as verifying utilities are transferred, conducting a final walkthrough, ensuring all keys and access codes are provided, confirming any agreed-upon repairs are completed, and obtaining documentation like warranties and manuals. What Should Be Included in a […]

Question: What Is the Minimum Down Payment for a House? Answer: The minimum down payment for a house depends on the purchase price, following rules set by the Canada Mortgage and Housing Corporation (CMHC). For homes under $500,000, the minimum is 5%. Homes between $500,000 and $999,999, the minimum is 5% on the first $500,000 […]

Question: What is Accrued Interest on a Mortgage? Answer: Accrued interest on a mortgage is the interest that accumulates on the principal between payment periods, calculated based on the outstanding amount and rate. What is Accrued Interest on a Mortgage? The Concept of Accumulated Interest in Home Loans Understanding the intricacies of a mortgage, such […]

Question: How Do You Find Out How Much a House Sold For? Answer: You can find out how much a house sold for by checking public records, consulting real estate websites or databases, contacting a real estate agent, or using online platforms that provide recent sales data in specific areas. How Do You Find Out […]

Question: Why is Housing So Expensive in Canada? Answer: Housing in Canada is expensive due to factors such as population growth, limited housing supply in major cities, low interest rates driving demand, foreign investment, urbanization, government policies, and speculative activities in the real estate market. Why are Houses So Expensive in Canada? Factors Behind Canada’s […]

Question: What Is the Minimum Down Payment for a Second Home in Canada? Answer: For an owner-occupied second home, the minimum down payment starts at 5%. If the property is a non-owner-occupied rental or investment, the minimum required down payment is 20%. Lender requirements and specific property values can affect the final amount. Calculating the […]

Question: What Is the Average Appreciation of Real Estate? Answer: Historically, Canadian real estate appreciates 3% to 5% annually over the long term, often outpacing inflation. However, rates vary dramatically by location, economic climate, and property type, so local market analysis is crucial. Real Estate Appreciation Rates Real estate appreciation is the increase in a […]

Question: What is a Capped Rate Mortgage? Answer: A Capped Rate Mortgage is a loan where the interest rate has an upper limit, offering protection from rising rates while allowing benefits if rates fall. What is a Capped Rate Mortgage? A Flexible Option for Homebuyers In the world of home financing, capped rate mortgages offer […]

Question: Can I use my RRSP for a Down Payment? Answer: Canadian homebuyers can use their RRSP (Registered Retirement Savings Plan) funds under the Home Buyers’ Plan (HBP) to withdraw up to $35,000 tax-free for a down payment on their first home, provided certain conditions are met and the funds are repaid within a specified […]

Question: Can a Seller Back Out of an Accepted Offer in Canada? Answer: In Canada, once an offer is accepted and a purchase agreement is signed, the seller is generally bound by the terms of the contract. However, certain conditions or contingencies may allow the seller to back out, such as failure to meet financing […]

Question: What is the Difference Between a Cosigner and a Guarantor? Answer: The difference between a cosigner and a guarantor is a cosigner is equally responsible for the debt from the start, while a guarantor is responsible only if the primary borrower defaults. What is the Difference Between a Cosigner and a Guarantor? – Their […]

Question: What is the Debt to Income Ratio? Answer: The Debt to Income Ratio compares monthly debt payments to gross monthly income, assessing a borrower’s ability to manage and repay debts. What is the Debt-to-Income Ratio? A Financial Health Indicator The debt-to-income ratio (DTI) is an important financial metric. It compares your monthly debt payments […]

Question: What is the Mortgage Stress Test? Answer: The Mortgage Stress Test evaluates if a borrower can afford mortgage payments at a higher rate, ensuring financial stability against interest rate increases. A Quick Homebuyer’s Guide The mortgage stress test is a financial checkup used by lenders. It ensures that borrowers can still afford their mortgage […]

Question: Can You Deduct Mortgage Interest in Canada? Answer: Mortgage interest is deductible only for properties generating rental or business income, not for a principal residence in Canada. Can You Deduct Mortgage Interest in Canada? Understanding Mortgage Interest Deduction In the realm of homeownership, understanding the nuances of mortgage interest deduction is crucial. This concept […]

Question: What Happens If I Do Not Renew My Mortgage Canada? Answer: If your mortgage is not renewed, you may have to pay the balance in full, face different terms, or risk foreclosure. Discuss options with your lender. What happens if I Do Not Renew my Mortgage in Canada – The Basics of Mortgage Renewal […]

Question: What Financial Requirements Must Be Met to Qualify for a Mortgage? Answer: To qualify for a mortgage, individuals typically need to meet requirements related to income, credit score, employment history, debt-to-income ratio, and down payment. Lenders assess these factors to determine the borrower’s ability to repay the loan and mitigate lending risk. What Financial […]

Question: What is the Real Estate Absorption Rate? Answer: The Real Estate Absorption Rate is a measure used to gauge the rate at which available properties are sold or leased in a specific market over a given period, indicating the pace of market activity and the balance between supply and demand. Understanding Absorption in Real […]