Real Estate Blog

Is the right time for us to purchase Real Estate?

Time for buying my home, now or future Is the right time for us to purchase Real Estate? The question of when it is the right time to purchase real estate is always a very important family decision. For millennials, homeownership in Canada is approximately 50 percent. In contrast, 55 percent of their parents currently own their own homes.  While millennials have lower ownership rates, it is expected that the numbers will increase this year. The average millennials are married at the age of 29, and most are in their early thirties. Many have been married for two to three years when they start a family, and then they start looking for a home to purchase. Many people now realize that this is an excellent time to invest in real estate. Sadly, the current outbreak of the coronavirus, the uncertainty of the world’s stock markets and record low interest rates have made this possible. Before you decide to purchase real estate, always consider the available types: Residential, which can be new...

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What You Need to Know About Cannabis Legalization in the Housing Market

Legal Recreational Cannabis and the Impact on the Ottawa Real Estate Market Recreational cannabis has been legal in Canada for just over one year. The Federal Cannabis Act has been rolled out in a very Canadian manner. Saskatchewan is considered to have been the most effective in the implementation of the new law. Ontario has been the slowest and is still lagging all the other provinces and territories. What has been the impact of the law on the real estate industry now and what will it be in the future? The Federal and Provincial regulations and the City bylaws are constantly being updated. To keep up to date, it is very important to work with a knowledgeable, professional and trustworthy Real Estate Agent REALTOR®. Selling your home in the legal cannabis world. What do I need to know? When selling your home always think about it from potential buyers’ perspective. With the help of your Agent you will follow the normal steps to prepare your home. If cannabis has been smoked in the hom...

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Buying your first home in Canada – What you Need to Know

One of the reasons Canada is the greatest country in the world is that we embrace new Canadians. The indigenous people were the first people in Canada. All other Canadian families have come from another country, we all have come from somewhere. Canada proudly is one of the most diverse and safe countries in the world. One reason for this is that as new Canadians we work hard and embrace our new communities. A recent Royal LePage survey found that “newcomers to Canada represent one in every five home buyers. If the current international migration level is maintained, Canadian newcomers are expected to purchase 680,000 homes over the next five years”. How can you as a new Canadian purchase a home in Ottawa? First, ensure that you are aware of the programs that all Canadians can use. The Federal government in March of 2019, made it easier to buy a home and reduce the size of a mortgage. With the Federal election now over more changes may be coming. The only way to keep up to date with all...

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Owning versus Leasing

It is essential for a business that they find the right location to set up their business and to decide whether to buy or lease a location. There are advantages and disadvantages to both. You will need an experienced commercial REALTOR®, an accountant and a lawyer working together to help you make the right decision. There are several financial as well as non-financial factors that need to consider. Non-financial factors may include whether the business owner insists upon owning. They want absolute control of the property or do not want the hassle of having to renew leases, the availability of properties in the desired location. Financial factors for opting for leasing include less initial capital required. The monies saved by leasing allow you the flexibility to use the monies saved elsewhere, deductibility of lease payments, and a lease may be less restrictive than a business loan. An increase in the value of the property allowing for access to monies by refinancing the property, the...

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Ottawa Real Estate January 2020 Highlights and Statistics

Based on information released February 5, 2020 by the Ottawa Real Estate Board Average Sale Prices up over 19% in both Residential and Condominium Properties January’s average sale price for a condominium-class property was $338,077, an increase of 19.1 % from January 2019 January’s average sale price of a residential-class property was $516,229, an increase of 19.3 % from January 2019. Compared to last month, however, the average price for residential-class properties increased by a modest 3.2 % and the average price for condominium-class units was 8.8 % higher.* The Board’s Housing Price Index (HPI), which is another data point of price trends based on the specific housing stock in neighbourhoods, indicates that the overall benchmark price for Ottawa has increased by approximately 13.75% from last year. Most Active Price Points: The most active price range in the condominium market was $200,000 to $349,999, accounting for 55 % of the units sold The most active price range in the ...

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Commercial Property …Not without a realtor

Have you ever considered owning, investing or leasing commercial real estate? Commercial real estate is defined as any non-residential property used for commercial profit-making purposes. It includes; office, retail, industrial, institutional, land, multi-family residential, and hotel/motel properties. All aspects of acquiring or leasing a commercial property are much more complicated than residential and require a skilled team of professionals to ensure a smooth transaction. Why Should I Invest in Commercial Property?  There are many reasons to purchase a commercial property: As an element of your overall investment strategy As the location of your business, this will help to ensure cost certainty Take Your Time and Plan The challenge with buying, selling, or leasing a commercial property is that it is more complicated than when one is dealing with residential proprieties. The amount of money required is significant, and if you are not successful, the financial loss can be devastati...

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Ottawa real estate stats 2019

Ottawa Real Estate Market Snapshot

Ottawa Real Estate Highlights December 2019 Record-Breaking 2019 Closes Out Decade Another record breaking year in both the number of sales & average prices! The average sale price of a residential property crept up over $500K during several months in 2019, with the annual average sale price settling at just below $490,000. As we head into 2020 we anticipate that the prices will continue to increase, however even then, the Ottawa area real estate market remains one of the most affordable major cities in Canada.                             Highlights from the Ottawa Real Estate Board January 6th , 2020 December’s UNIT SALES Members of the Ottawa Real Estate Board sold 761 residential properties in December through the Board’s Multiple Listing Service® System, compared with 1,161 in December 2018, an increase of 15.3  %. Residential: 534 Up 13.9 % from December 2018 Condo: 227 Up 18.8  % from December 2018....

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All I want for Christmas is a HOME

Buying a house is an exciting time, and whether you are just entering the market or you are a seasoned buyer ready for your next move, investing in real estate is a smart decision. To some, the Realtor App could be considered the Tinder of the Real Estate world, swiping past sub-par matches looking for the one who really might be worth the work. While looking at homes seems to be a logical first step, it may not. Some steps should be taken to ensure that you are prepared to be as competitive as possible when in a multiple offers situation.   Unfortunately, this reality is becoming more and more common, listing prices below market value as a pricing strategy. Buyers can become exhausted with the hassle that buying a home becomes when it turns into putting multiple offers on multiple homes, having hopes high only to be struck down for things that may have been avoidable. With the emotional toll this can take on a person, it is good to be aware of the challenges, and learn what you c...

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The Season of Giving – Gift Ideas for all the Homeowners in your Life

Coming up with gift ideas for the people in your life can be difficult sometimes.  We have put together a gift-giving guide for those people that have moved into a new home or a new condo.  Perhaps you are the one that has moved this year if so we included some ideas for little gifts for your new neighbours around the holiday season.   Homeowners Buying gifts for the new homeowners in your life can be an exciting gift to shop for and the possibilities can seem endless! Toasters, towels, and linens at every corner! If your homeowner hasn’t registered anywhere, the choices can easily make a fun experience feel like a nightmare. Here is your cheat sheet with the top 5 gifts to buy a new homeowner this holiday season. There is nothing like a Christmas Tree Ornament to commemorate a milestone in someone’s life. Welcome signs or front door mats are great ways to decorate the front door while the new occupants organize indoors. Monogrammed keychains Subscriptions to Netflix or CraveTV. ...

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Ottawa Real Estate Market Snapshot November 2019

Ottawa Real Estate Highlights November 2019 Weather isn’t Cooling the Resale Market!  Highlights from the Ottawa Real Estate Board December 4, 2019 UNIT SALES Members of the Ottawa Real Estate Board sold 1,288 residential properties in November through the Board’s Multiple Listing Service® System, compared with 1,161 in November 2018, an increase of 10.9 %. Residential: 958 Up 10.5 % from November 2018 Condo: 330 Up 12.2 % from November 2018. The five-year average for November unit sales is 1,133. “Even with the typical winter slowdown, Ottawa’s home resale market still experienced a relatively brisk pace in November. Our inventory is not having a chance to build as it is being absorbed as quickly as it comes on the market. That’s why there are so many sales every month even though the supply stock is low,” [President of the Ottawa Real Estate Board] AVERAGE SALE PRICE Condo: $313,734, an increase of 9.8 % from November 2018 Residential: $501,201, an increase of 16.9 % November 2018...

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Condo Living

Picking a Condo that Matches your Lifestyle

While many people once shied away from condominiums, today, this home-owners option is sought out by people of all ages and lifestyles. Condominiums are popping up in all neighbourhoods, with amenities that cater to the needs of people with all types of wants, needs, and abilities. Whether you are a working professional, young family, retiree, live an active lifestyle or require accessibility accommodations, appealing features offered by many of these condominiums are making this home-buyers option an appealing and competitive one. As with the growing market of condominium homeowners, the variety of notable features offered under the fees are growing as well. Condominiums are not just for retired downsizers anymore, they are built to meet the lifestyle needs of all different types of people at all different stages of life. Whether you are a young family looking for proximity to schools, transportation, and parks or recreational facilities, a working professional with minimal time for h...

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Ottawa Real Estate Snapshot:  October 2019 

Ottawa Real Estate Snapshot:  October 2019 Based on information from on the Ottawa Real Estate Board November 5th, 2019 Properties Sold Total properties sold: 1,607 an increase of 16.9% over October 2018 1,211 in the residential-property class, up 15% over October 2018 396 in the condominium-property category, up 23% over October 2018 The five-year average for October unit sales is 1,319. “New listings are down, inventory remains scarce, and yet more homes changed hands this October than in the past decade and a half,” reports President of the Ottawa Real Estate Board. “It’s perplexing at first; however, when you consider the current breakneck transaction pace in the Ottawa resale market, often requiring homebuyers and sellers to make swift decisions, it makes sense.” Properties are “flying off the shelves, so to speak.” –OREB President Days on Market Residential Average days on Market: 33 (from 43 in October 2018) down 23.3% Condominium Average days on Market: 28 (from 47 in Octob...

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