Skip to Content

property posts

Where Can I Afford a Cottage in Canada?

Filed under: Budgeting & Planning, Economizer, House & Home, Real Estate

As Canadians we know the big three cities - Toronto, Vancouver and Montreal - aren't the most affordable places to live, with Vancouver taking the top spot as having the highest cost of living of all the Canadian cities. And waterfront homes in urban centres fetch ridiculous amounts - take this recent sale of an $8 million cottage-like home in Toronto's Beach neighbourhood.

So when we want to escape to the cottage, cabin or summer house, where to go?

Regions close to these cities, places like the Okanagan, Muskokas and Laurentians aren't the place to find a budget summer spot for most of us.

Those who want a cottage or cabin may need to rethink the ultimate destination. So where to focus to find the summer home bargain of our dreams?

Tips for Buying Your First Home in Canada

Filed under: Banks, Budgeting & Planning, House & Home, Loans, Real Estate, Real Estate, Your Home

first homeOwning a place to call your own is understandably a top priority for many Canadians. Buying that first or only home is also likely to be the biggest financial decision many of us will ever make.

Like any decision that involves large amounts of money, there are good choices and bad choices that can be made that will have huge impacts on your finances decades down the track, possibly resulting in differences of tens or hundreds of thousands of dollars. Navigating the maze of choices can be exhausting, but spending that time to do your research will pay off.

Here are some tips and resources for those setting foot in the market for the very first time:

U.S. Real Estate For Canadian Buyers

Filed under: Investing, Loans, Retirement and RRSPs, Taxes, Travel, Real Estate, Your Home

Buying a home is a daunting task, let alone buying one in another country. Yet a good number of Canadians relish the chance to own their little plot of somewhere else, particularly if that plot lies baking beneath the nice warm sun.

The biggest market without question for Canadians seeking overseas property is the United States, and more specifically, Florida and Arizona. The depressed housing market south of the border has opened up more opportunities for Canadians eyeing a piece of the pie and that looks like something set to continue according to a TD Bank survey that shows that more than one-third of Canadian boomers are considering buying real estate there.
The U.S. media has noticed a rise in the number of Canadians buying property, further expanding what is already their biggest foreign ownership group. (Read Five Reasons Why Canadians Are Snapping Up U.S. Real Estate.)

Buying property in the U.S. is not as complicated as many think. The first thing to consider is how to finance the purchase.

Five Reasons Why Canadians Are Snapping Up U.S. Real Estate

Filed under: Investing, Loans, Real Estate, Your Home

Real Estate EstateCanadians have long had an interest in U.S. real estate, especially in sunny vacation spots in Florida and Arizona. It is rare though for such a great window of opportunity to open as it has now.

Whether you are looking for a vacation home or an investment, here are five reasons why now is a good time to buy Stateside:
  • More Americans Are Renting. The housing crash in the U.S. combined with the financial crisis and recession have caused a great number of people to give up the "American dream" of owning a home. According to newspaper USA Today, 72% of Americans surveyed in August said home ownership was part of their dream, down from 77% at the beginning of the year. Greater demand for rental property has helped push rental returns higher in some U.S. cities, particularly for homes with three or more bedrooms. You can search historical rental rates at Rentbits.com.
  • The Canadian Dollar Is Strong. The loonie has been hovering at just below parity with the greenback with the potential to break higher. The strength of the loonie is above its historical average over the past 10 years of about US78 cents. The strength against the greenback makes purchasing U.S.-dollar denominated goods cheaper compared to most other times in the past, and most likely the future too.

Canada's Top 10 Real Estate Investment Hot Spots Revealed

Filed under: Investing, Real Estate, Your Home

Real EstateThere are some great money-making opportunities in Canadian real estate at the moment, particularly with low interest rates and affordable house prices. However, you have to know what you're looking for. Serious property investors always do their homework before buying a property, and there are a number of signs they look for in order to maximize their profits through property appreciation and rental income. Right now, those signs point to Calgary as being the best place in Canada to invest. In fact, three other areas in Alberta also make the list, making it the hottest property investment province in Canada.

Before choosing an investment, look at factors that could increase a property's value. For instance, are there any large development projects slated for the area? Is the property near an area that will benefit from planned transport infrastructure? Is there potential for jobs growth in the area? Is the population of the area increasing faster than average? Does the area have easy access to services and schools?

Finding this information by yourself can take a lot of time. Thankfully, the Real Estate Investment Network of Canada puts out a list of the top 10 hot spots in Canada based on these factors, making the research process much quicker and easier for you.

Will Selling Your Home Privately Save You Money?

Filed under: Budgeting & Planning, House & Home, Real Estate, Your Home

selling homeIt's a question many homeowners often ask themselves: could I save myself thousands of dollars by bypassing the real estate agent and selling my home myself? After all, the Internet has made private home sales much more accessible with numerous For Sale By Owner websites that allow sellers to market their homes to a wide audience without the use of an agent. How hard can it be?

An interesting article in the Financial Post this week takes a look at the pros and cons of the private sale. A bit of math shows that a 5% commission paid to an agent on the average home price of $331,171 would save you a whopping $16,558. Or would it? As with most things, nothing is ever that black and white.
Compare Personal
Finance Rates

Find Your Rate

Advertisement
  • All
  • Mortgages
  • Credit Cards
  • Savings
Enter Mortgage Value
Company
Monthly
Rate
Choose Card Type
Company
Reward Return
Rate
MBNA
2.05%
$1,500.33
Best Rate
2.05%
$1,500.33
Best Rate
2.05%
$1,500.33
Choose Savings Type
Company
Savings
Rate

Most Commented