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]

In 2020, the unthinkable occurred: the red-hot Toronto condo market experienced an unforeseen downturn. For the first time since the Great Recession, condominiums in North America’s fourth-largest city took a rest after more than a decade of tremendous growth. While Toronto’s detached and semi-detached segments of the housing market performed well, units in the sky suffered a setback – something that nobody would have envisioned at the start of the year. A... [read more]

A year ago, the monthly rent for a typical one-bedroom apartment or condominium in the Toronto real estate market was among of the highest in the world. Supply was limited, vacancy rates were low and demand was strong. What a difference a year makes, showing just how quickly a lucrative market can change almost instantly. For the first time in what seems like forever, renters in North America’s fourth-largest city received a reprieve from rising rents, in what some people are calling... [read more]