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Buying a home will likely be the single largest purchase of your life. With home prices on the rise across Canada, finding the right financial solution to secure your perfect home can be challenging. By knowing all your options, you can ensure that you find the perfect home at a price you can afford.

One option you have when purchasing a home is a reverse mortgage. Unlike a traditional mortgage where you submit monthly payments to build equity in your home, a reverse mortgage is the opposite. In a reverse mortgage, the bank will make payments to you in exchange for equity in your home.

A reverse mortgage is exclusive to Canadians over the age of 55. In a reverse mortgage situation, the homeowner can borrow as much as 55% of the current home’s…

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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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The Toronto real estate market started off the new year with a drop in home sales by more than 18% compared with a year ago, as fewer properties were listed for sale and market conditions tightened.

According to the latest TRREB report, a total of 5,636 homes were sold last month, down from the 6,888 sold in January 2021.

“There's buyers out there. They're just having a hard time getting the deal done,” said TRREB's chief market analyst.

The lack of homes on the market had a major impact on home prices in January, with the average price up to $1.2 million last month, a 28.6% increase from $966,068 in January 2021.

The board expects detached houses to remain most popular with intending buyers, especially in suburban areas.

With an…

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The Toronto real estate market saw record breaking numbers in 2021. An increase in demand for home buyers caused prices to rise to an all-time average high of $1.1 million, while home sales jumped 28% to 121,712. With that year now over, what can we expect in 2022?

A new report by Royal LePage is forecasting that in 2022 prices in the GTA will rise by another 11%, with the average home price reaching $1,243,000 by the fourth quarter.


This growth comes despite expectations that the Bank of Canada will increase interest rates within the first 3 months of 2022, which will increase the cost of borrowing and potentially push some buyers out of the market.

“We finished 2021 on an unusually strong note,” said Royal LePage president and CEO Phil…

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Homeowners are often looking for ways to save money during the cold months. If you are worried about your energy bill this winter, here are 4 energy saving tips to help you cut costs.

Maintain Your Furnace Filters

If your home uses a furnace filter, replacing it regularly and making sure it is clean will help save you money. When the filter gets clogged up, the furnace has to work harder to pump out air. Dirty filters can impede air passageways and tend to increase your energy bills. Check your furnace filters once per month to ensure they aren’t clogged and replace them when necessary.

Let The Sun In

Regardless of the temperature outside, a sunny day can provide free heat when combined with your main heating methods. When the…

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Are you considering buying a home this year? There is no better time to start planning than now. Whether you are waiting until the spring or later on in the year, getting started sooner rather than later will save you a lot of trouble in the long run. Here are 3 things you can do now to prepare.

Start Saving For Your Down Payment


The down payment is arguable the most difficult and time-consuming part of the home buying process, which is why it’s important to start thinking about it now. Decide how much home you can afford, and then calculate how much of a down payment you’ll need to purchase it. Put aside some money every month to ensure you have enough when the time comes to buy.

Work on Your Credit Score


Your credit score…

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