Buying your first home is quite stressful, isn’t it? On top of that, you must learn the meaning of banking terms specific to real estate – that’s not going to help! That’s why we’ve put together a little glossary of key real estate banking terms you need to know. Deed of Sale The deed of …
Rent: How Is a Rent Hike Calculated in 2022? Do you live in a rental property, and have you received a rent hike notice? Are you wondering how your landlord decided on the size of the hike? Not sure if you have the right to refuse the hike? In Quebec, rent hikes are governed by the …
Home insurance is not mandatory in Quebec. But do you really have a choice, considering the trouble a disaster could cause? That said, you do have a choice about the coverage you purchase, because there are several types of home insurance. Here’s what you need to know to make an informed choice. What Do You Need? …
5 929 sales were concluded in August across the province, which represents a decrease of 15 per cent compared to August 2021. According to data compiled by the Quebec Professional Association of Real Estate Brokers (QPAREB), 5 929 transactions were recorded in the province of Quebec in August 2022, a decrease of 15 per cent. Active listings …
The Market Continues to Slow in August Across the Province Read More »
It’s good to be as well-prepared as possible when you’re looking to buy property. Centris.ca offers tools for calculating mortgages and mortgage loans to help you get a better idea of what mortgage payments and borrowing capacity would look like in your situation. Armed with the right information, you can confidently embark on the …
Finding the necessary funds to make a down payment can be quite tricky. Luckily, the government of Canada has created the Home Buyers’ Plan, also known as the HBP, to facilitate the process of buying a property for new buyers. What Is the Home Buyers’ Plan (HBP)? The Home Buyers’ Plan (HBP) allows first-time buyers to …
The HBP, a tool to increase the down payment of a first property Read More »
Pre-purchase inspections have always been essential when buying a home. Here’s why a pre-purchase inspection is essential and what you should know about it. What’s the Purpose of a Pre-Purchase Inspection? A pre-purchase inspection done by a qualified building professional will identify the condition of a property and any potential problems. While it is …
An Increase from 2021 After two years of strong price appreciation, Canadian home prices are poised to increase significantly in 2022, albeit at a slower pace than in previous years. According to the Royal LePage Market Survey Forecast, the aggregate price of a home in Canada is set to rise 10.5% year-over-year to $859,700 …
Royal LePage forecasts double-digit home price growth in Canada in 2022 Read More »
Few people are able to pay for their property in full without taking out a mortgage It’s therefore safe to assume that you’ll need a mortgage to buy the house of your dreams! Regardless of which financial institution you choose, you will need to consider several factors and fully understand the specifics of each …
Have you decided to become a homeowner? Learn more about the costs that are involved. The Down payment A down payment is mandatory when buying a property. The minimum required is 5%; however, homebuyers with less than 20% down payment are required to purchase mortgage loan insurance to protect the financial institution. Thus, you …
