March 2022 RSS Feed

Found 5 blog entries for March 2022.

Earlier this month, the Bank of Canada hiked its key interest rate to 0.5% in an effort to “take some steam” out of the economy.

This move is expected to be the first of a series of small rate hikes this year in an attempt to tame inflation that has risen to its highest point in decades.

It's the first time the bank has raised its rate since 2018. Before the pandemic, the bank's rate was 1.75%, before it quickly slashed the rate down to 0.25% to help the economy. Investors think there could be as many as five more small rate hikes before the end of the year.

This hike affects the rates that Canadians get on things like mortgages, lines of credit and savings accounts at their own banks.

The move should help balance out supply and demand in…

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A home renovation is a great way to freshen up a space while also adding potential value to your home. If you are considering a home renovation, here are 4 things you should absolutely avoid.


Buying Cheap Materials

 

When starting your home renovation project, you might be tempted to save a little money by buying less expensive materials. While this can save you money in the short term, the inferior supplies will need to be replaced sooner and you’ll end up paying more in the long run. Using premium materials also have the benefit of adding value to your house, as savvy and informed buyers will recognize and appreciate the quality of your renovation when the time comes to sell.


Trying To Do Everything Yourself

 

While there are…

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Home sales last month were down compared to the all-time record in 2021, but represented the second-best result for the month of February in history.

According to the latest TRREB stats, there were a reported 9,097 sales in the Toronto area, representing a 16.8% decrease in the number of sales compared to last year.

The supply of listings for low-rise home types, including detached, semi-detached and townhouses, was also down year-over-year. In the condominium apartment segment, particularly in Toronto, new listings were up in comparison to February 2021.


“Demand for ownership housing remains strong throughout the GTA, and while we are marginally off the record pace seen last year, any buyer looking in this market is not likely to feel it…

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After the first 2 months of the new year, the Toronto condo market is already showing signs that it will be stronger than 2021 - and may even break records.

While some predicted a stagnant condo market to start off 2022, those predictions never really happened as developers, realtors, and homebuyers noticed an uptick in the demand for housing.

One of the main reasons is affordability. With an increase in demand for detached homes, many first time buyers will be pushed to more affordable housing such as condos. We can expect this demand to increase as we move into the spring.

Immigration is another driver of the condo market. Despite the pandemic, Canada welcomed a record-number 401,000 new permanent residents in 2021 and that number could…

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Each year brings new décor trends that are popular among homeowners. Whether you are looking for a change from your current décor or thinking about selling and want to get the highest possible value, here are 3 home décor trends that are sure to enhance your space.


Tech Friendly Spaces

 

Since homeowners are spending more time at home these days, technology has become an important aspect of daily living. Computers, smart phones, tablets, and other devices are used regularly for entertainment and work. Upgrading areas such as the kitchen, living room, and basement with tech friendly solutions are a major trend this year. Everything from pop-out outlets, to ultra-fast charging stations, to multiuse power bars are an easy addition that will…

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