Renters across Canada have been struggling with rising rent costs and wondering how they will be able to save for a down payment while renting. However, with some money management tricks and adjustments to your daily living, you can save for a down payment. It might go slowly, but every little bit helps. Here are some tips to save for a down payment while renting. 1. Make a Budget and Stick to It Making a budget is the easiest way to make your financial goals happen. When you... [read more]

Saving a down payment for a house can be a daunting task. In this day and age, it can take years to save up enough money to afford a home, depending on various personal and economic factors. However, the Canadian government has created a Home Buyers’ Plan program, which allows first-time homebuyers to withdraw up to $35,000 from their Registered Retirement Savings Plan (RRSP) to increase their down payment. If you’re buying with someone who also qualifies for the program, that... [read more]

The Ontario housing market is in dire need of supply. With rising residential prices far outpacing incomes, and not enough homes on the market for everyone who wants to buy one, the supply issue is the root of the Ontario’s­—and Canada’s—housing affordability crisis. It’s been long said by RE/MAX Canada executives and other industry insiders, and now by the Ontario government. The Ontario Housing Affordability Task Force released... [read more]

How hot is the Canadian real estate market right now? It is skyrocketing so much that the Canadian Real Estate Association (CREA) is projecting that the housing market is poised to post record highs again this year. According to the association, more than 700,000 properties will change hands in 2021, up from 551,262 last year. The national average home price will surge by an annualised rate of 16.5 per cent to $665,000 this year. All this is because demand is exceeding... [read more]

At the height of the coronavirus pandemic, many potential homebuyers sat on the sidelines, waiting for a COVID-19 discount. Activity declines dramatically in March and April, but the delayed spring market came roaring back, igniting record-setting growth for both residential sales and prices. From Halifax to Toronto to Vancouver, many of the nation’s real estate markets have reported monthly double-digit percentage gains, suggesting that a lot of Canadians potentially missed out on a... [read more]