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Mortgage Trends to Watch for in 2023

It’s looking like we’re going to be seeing similar real estate trends in 2023 compared to last year.

Following a year defined by market highs and lows, experts are forecasting a gradual return to a more balanced market towards the end of 2023. However, with inflation remaining more or less unchanged at the tail-end of 2022, last year’s trend of diminished purchasing power seems likely to persist.

As for what that means for mortgage lending, Shaun Cathcart, Senior Economist at the Canadian Real Estate Association (CREA), predicts primary-based mortgage payments will continue to rise dramatically until the Bank of Canada (BoC) reaches its terminal rate. 

Trigger Rate: How does it affect your variable rate mortgage

Variable rate mortgages will hit their ‘trigger rate’

“The ‘terminal rate’ as it’s called, meaning where they’re expected to stop, has gone from 3.5% (they’re at 3.25% now) on the overnight rate back in the spring to closer to 4.5% now,” writes Cathcart. As such, those carrying variable rate mortgages are now facing their “trigger rates,” meaning those borrowers will face higher monthly payments if interest rates remain high.

In December 2022, Canada’s inflation rate fell 0.6% from the previous month to 6.3% which will certainly inform the BoC’s next interest rate decision scheduled for January 25, 2023. If more hikes happen this year, variable rate mortgage carriers will not only find themselves with high monthly payments to cope with, but those payments are likely to cover more interest and less of the loan’s principal amount, translating to a longer payback period overall.

Meanwhile, data from the British Columbia Real Estate Association (BCREA) forecasts the average Canadian variable mortgage rate will rise to 6.35% in the first half of 2023, decreasing “only slightly” to 6.1% in Q3 2023 and 5.85% in Q4 2023.

Fixed rate mortgage forecast for 2023

Fixed rate mortgages ‘not safe for the next five years’

At present, variable rate mortgages have higher monthly payments than fixed rate mortgage payments. However, Cathcart cautions “those with fixed rate mortgages are not safe for the next five years.”

He continues, “[fixed rate mortgages] come up for renewal every day. People paying attention are rightfully worried. People who have not been paying attention could be in for some serious sticker shock.”

According to data from Ratehub, the five-year fixed rate in 2018 was 2.94%. At the end of 2022, it had increased to 4.54%. For a $400,000 mortgage on a 25-year term, this would mean monthly payments increased from $1,881 to $2,223.

Predicting where rates are heading in 2023 will continue to be a challenge given the uncertainty of the economy and real estate market, which will leave fixed-rate carriers to speculate where the market might be headed and whether it’s more prudent to lock in a short- or long-term fixed rate.

Mortgage Trends: The Guide for 2023

New borrowers may bite the bullet… or find themselves priced out

Substantial rate hikes are most likely behind Canadians, and consumers have had some time to adjust their spending and home buying budgets accordingly. If prospective buyers return to the market, things could heat up once again as low inventory continues to be an issue across Canada. 

Of course, depending on the Bank of Canada’s next moves, things could go another way. The high cost of borrowing could also keep prospective buyers on the sidelines, which could serve to lower demand, curb competition, and soften Canadian housing markets. It’s truly too soon to tell.

In any case, Canada’s population is rapidly growing and housing demand isn’t going anywhere. Instead, demand will likely be absorbed in the rental market, according to Cathcart.

“In that sense, this is a continuation of the same story—those who got into the market early are unlikely to be affected by rapidly rising rates and are also unlikely to see the value of their properties decline all that much from the peak. Meanwhile, those who bought recently at elevated prices, and those in the rental market, may be in for a tougher ride over the next few years.”

If you’re thinking of buying or selling this year, be sure to work with a local REALTOR® to get their professional expertise on what’s going on in the market where you live (or might like to), and what your best options are. 

You may also be interested in reading…

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REALTORS® Answer the Most Googled Real Estate Questions

Everyone has questions about real estate, as it’s likely the largest financial investment we’ll ever make in our lifetime. While the experience of buying or selling a home is no doubt exciting, it can, at times, become overwhelming. This is why we’ve turned to the experts. We collated some of the most frequently Googled real estate questions and asked REALTORS® for their answers. Think of this article as your go-to guide for a more in-depth understanding of the most popular questions related to buying or selling a home.

The most common questions asked when selling a house

Common questions asked when selling a home

Why do I need a home inspection?

“A pre-purchase home inspection is always a good idea whether it is required by your lender or not,” says Elisha Roberts, a salesperson and REALTOR® in Red Deer, Alberta. “It allows you as a buyer to ensure the house you have written an offer on doesn’t come with any unforeseen issues—often of great expense.”

“Home inspectors look for structural issues, the condition of mechanical systems and much more. If something is discovered, it provides you with an opportunity to address the issue to your satisfaction before proceeding with the purchase, such as amending the purchase price or asking for the seller to repair the issue and provide proof. Once an issue is uncovered, the seller will have to disclose to any other interested parties if your offer does not go firm. In my experience, most sellers are willing to work together to ensure a fair outcome for everyone involved in the transaction.”

Why can a seller reject my offer?

“Sellers are not obligated to accept an offer,” says Jessica Kee, a salesperson and REALTOR® from Toronto, Ontario. “There are a number of reasons why a seller may not find an offer acceptable to them—price, closing date, conditions in the offer. They may, however, counter back or politely decline if the gap is too far apart.”

Assessing the value of your home

How do REALTORS® assess a home’s value?

Nick J. Kyte, a salesperson and REALTOR® from Ottawa, Ontario, lists the top five ways a home’s value is assessed.

  1. Location, location, location: neighbourhoods and streets vary in value, so understanding these pros and cons is vital to accurately assessing value.
  2. Size of home: homes with more livable square footage are generally worth more.
  3. Age and condition of the home: a well-kept and maintained home is typically more desirable for buyers.
  4. Recent updates or upgrades to the home: do buyers have to worry about an old roof, windows and heating, ventilation and air conditioning? If not, and in general, the fewer major items that require replacement or repair, the greater value held in the buyers’ mind.
  5. Supply and demand for homes and neighbourhood: what are the recent comparable sales in the neighbourhood, specific street, etc.? Are there trends that suggest the area is in more demand? If so, this can be a factor that assists in a higher assessed value.

Curious how your REALTOR® prices your home to sell? We’ve covered that! 

What is a conditional sale?

“Simply put, a conditional offer is certain conditions that must be met by the buyer during the conditional period and, if not met, the deal becomes null and void and the deposit is returned to the buyer,” clarifies Kyte. “Common conditions placed in offers to protect buyers and allow time for proper due diligence are; financing, inspection, insurance, solicitor review and, for condominium properties, the solicitor’s review of the status certificate. As a general note, anything can be added as a condition or clause, to an agreement of purchase and sale, as long as parties to the agreement agree.”

Find out how long it will take to sell my house

How long will it take to sell my home?

“Selling timeframes vary from province, city and local market,” Kyte points out. “Knowing the average days on the market it takes to sell similar properties is information that needs to be provided to sellers and buyers, to ensure their expectations are in line with their current market.” 

As an example, Kyte details that, “in the Ottawa real estate market, the average days on market for residential properties in December 2022 was 38 days. This can vary based on the property’s list price, location, condition of home, and marketing. The number of days it takes to sell a home has dramatically increased from 12 days in 2021, the peak of the market, and is now climbing to a more “normal” range that is consistent with pre-pandemic ranges.”

When is the best time to sell my home?

Rashedy Lewis, a salesperson and REALTOR® from Toronto, says, “Most sellers believe the best time to sell their home is between May to July. However, in my opinion, there’s no ‘best time’ to sell your home. Each homeowner has a different reason why they want to sell.” 

Lewis continues, “Once you’ve decided to place your home on the market, you should check to see what improvements can be made prior to selling, as this can help you get more money for the resale value.” 

Need some inspiration? Here are some renovations that could be worth doing before selling. 

Lewis suggests beginning the process by “decluttering and cleaning the home and once these are done, inspect your floors, walls, bathroom(s), and kitchen as these are the main selling features of the house. Homeowners should also check windows, doors, furnace, and their roof to ensure that they are in good working condition.” 

Lewis concludes that “in my view, once these are accomplished, it helps to attract buyers and sell at a good price.”

If you’re thinking of selling your home in the winter, we’ve gathered some tips on how to make the most of selling your home in the winter months.

Required Mortgage Documents

What do I need to qualify for a mortgage?

“In order to qualify for a mortgage, you’ll need to have the necessary down payment, show proof of employment, and proof of income along with your credit score,” says Lewis. Above all, you’ll need to be able to prove to the lender you can afford the amount you’re asking to borrow and all future monthly payments. Your income stability, as well as your debt service ratio, will be assessed. 

In fact, there are four Cs when it comes to navigating the road to obtaining a mortgage and these include capacity, capital, collateral, and credit. What’s your capacity to pay back the loan on time every month? What money, savings, or investments do you have readily accessible? What is the value of the property you’re wanting to purchase and will it be enough to cover mortgage debts if payments are missed? Do you have a good credit score and a history of paying bills on time? Again, lenders want proof of stability.

The most common questions asked when buying a house

Common questions asked when buying a home

How much of a down payment do I need to buy a home?

Kee explains, “The minimum down payment requirement for anyone buying a home to live in is 5% on a home up to $500,000. Anything after that is 10% on the portion above $500,000. So, if it’s a $600,000 home, the minimum down payment is $35,000. For someone looking to buy an investment property, it’s 20%.”

There are different savings plans and incentive programs available to those looking to buy a home, especially if you’re a first-time home buyer. Get in touch with a financial planner to understand your options and see what you’ll need to do to save for a down payment. 

How long does it take to buy a home?

“The time required to purchase a home varies,” says Roberts. “I always recommend that my clients obtain a pre-approval prior to initiating their home search. Once the perfect property is found it can take anywhere from about one week to several months for the closing process and for you to take possession. The variance is based on the seller’s limitations around possession date or acceptance of a proposed possession date in the offer to purchase.” 

“Any conditions that need to be satisfied prior to a firm sale like a home inspection or financing condition will add to the transaction time,” Roberts adds. “It’s important to note the lawyers required to complete the transaction may require some time to complete this on your behalf, so it’s a good idea to check in with them to determine their required lead time based on their current workload.”

Do I need a REALTOR® to buy a new-build?

Kee explains using a REALTOR® when buying pre-construction “isn’t mandatory, but it’s highly encouraged”—especially since, as a buyer, you don’t pay commission, meaning having a REALTOR® on your side is a free benefit. 

“Builders may have their own sales people, but don’t forget their number one goal is to sell the project for the builder and often with the terms favourable to the builder,” he says. “Your REALTOR® will guide you through the process, may show you other options, and negotiate the contract most favourable for you.”

Get to know the benefits of working with a REALTOR®

Why should I work with a REALTOR®?

Asking the right real estate questions, and seeking answers from a trusted team of professionals will put your mind at ease.

“Experienced REALTORS® provide a lot of value to their clients whether buying or selling a home,” Roberts explains. “We know the market area and can help you avoid costly mistakes in regards to contract errors/omissions and provide relevant market data. We also have networks of trusted professionals who are used time and time again that we know will do an exceptional job. I’ve narrowed down my lists of professionals I recommend to my clients and I provide that information to them depending on their area.”

An online search can be a great starting point to get information, but you can trust the expertise of REALTOR® when it comes to the entire home buying or selling experience! Find a REALTOR® in your area, or get a referral from someone you trust, and they’ll be happy to answer all your real estate questions. 

You may also be interested in reading…

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How a REALTOR® Prices Your Home

You’ve loved your home but are ready to move on. How much should you list it for? Although a casual observer might believe a listing price is an arbitrary number, many factors are taken into consideration when pricing, including market conditions, historical data, location and amenities. Overprice a property and it could linger, unsold, for months. Undervalue it, and you’re leaving money on the table. While getting a home appraisal can give you an idea of your property’s worth, pricing a home is part science and part art, so we asked a REALTOR® to break down that process.

“When I’m asked to price a property, there are many aspects involved and lots of fine-tuning,” says David Stevens, a REALTOR® with Royal LePage Coast Capital Realty in Victoria, British Columbia. Some considerations include:

Current real estate market Trends

Current local market conditions 

Pricing a home should include looking at the current market conditions and trends in your area. Knowing how many properties with similar features are up for sale and how fast they’re being snapped up can help determine how a property should be priced. 

“This takes into account the ability of active buyers and their buying power or capability,” adds Stevens. “Comparable current and sold listings are an invaluable source of information to look at when pricing, because sold property prices can always be relayed to any buyer or seller by their REALTOR®.”

When there’s low inventory in a neighbourhood, this can create a seller’s market with more competitive listing prices, while a bunch of homes for sale may require lower asking prices and indicate it’s more of a buyer’s market.

House Location

Location 

“Sought after neighbourhoods near well-respected schools will typically demand a higher price tag,” explains Stevens. 

Remember: even homes on the same street can differ in price—if one side of the street backs onto a body of water, for example, those homes could be priced higher.

House layout

Size and layout

 A home’s layout can also factor into its pricing; most families in his market look for three or more bedrooms on one level, notes Stevens. 

“The square footage of a home and land size also influences the value of a property,” he says. “Depending on the area and the buyer trend in an area, aspects like privacy or usable land play a role.”

The house's age and condition are factors to consider

Age and condition of the house

How old a property is, and whether it has or needs major updates, including windows, roof, kitchen, bathrooms, and mechanical systems all factor into pricing. 

“When the major components of a home have been updated or replaced, many buyers see that as a long-term investment they will not need to spend money on,” explains Stevens.

DIY projects gone wrong can be detrimental in obtaining top dollar because substandard work will decrease your home’s appeal and, therefore, the price, he adds. 

When pricing your home, bonus spaces can be taken into consideration

Bonus spaces

A home with an in-law suite or additional income potential can be important as it gives the buyer flexibility with their financing and buying capability, he adds. 

“Within urban communities, it may be hard for a buyer who wants a detached workshop or a studio. This is considered special and not easy to find, so it must be taken into consideration when pricing.”

Property prices are also determined by a seller's motivation

Seller’s motivation

REALTORS® also take a seller’s motivation into account when pricing a property. For example, if a seller has an accepted offer on another property, or they’re being transferred out of town, they may ask for a compelling listing price to attract more buyers, says Stevens.

MLS home price index

What is the MLS® Home Price Index and how does it work? 

REALTORS® have a powerful tool at their disposal—the MLS® Home Price Index (MLS® HPI). It provides a more precise picture of home price trends by gauging prices for the market as a whole, and prices for specific housing categories. This information allows them to do a comparable market analysis, where they learn what other similar homes have recently sold for, which gives them solid indicators on how to price your property.

Because this data can change from month to month, it’s important to use an accurate tool that tracks prices to get the latest information. 

“Ultimately, the pricing of a home is the seller’s decision with the help of their REALTOR®,” says Stevens. “The goal is to price the property to attract serious buyers and to prevent an extended period of time on the market that may ultimately come at a cost.”

Working with a REALTOR® to price your home gives you peace of mind that you’re setting yourself up for success with the advice and expertise of a professional. 

You may also be interested in reading…

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10 conseils pour fermer son chalet pour l’hiver

Vous partez dans le Sud pour l’hiver? Avant de fermer votre chalet trois saisons, voici un aide-mémoire pour partir l’esprit léger. Si votre chalet n’est pas isolé pour l’hiver, plusieurs choses sont à mettre en place pour que tout soit impeccable au moment de votre retour. Tout ça, sans trop d’efforts, mais en ne laissant rien au hasard.

Homme et son chien sur la terrasse du chalet.

Aviser ses assurances

Avant de partir, pensez à signaler à votre assureur toute absence prolongée. Rangez aussi à l’abri des regards les objets les plus tentants. Enfin, prenez des photos du contenu du chalet, notamment des biens les plus précieux. En cas de dommages et de réclamation, la procédure en sera grandement simplifiée.

Déneigement du toit d’un chalet.

Vérifier l’étanchéité du toit

Avant de fermer le chalet pour l’hiver, faites une inspection du toit et effectuez, si nécessaire, les réparations afin d’éviter les infiltrations d’eau en votre absence. Vous pouvez aussi souscrire à un contrat de déneigement du toit au moins une fois durant l’hiver afin d’éviter toute mauvaise surprise.

Tuyaux gelés qui éclatent.

Couper l’eau et vider les tuyaux

Pour éviter que les tuyaux ne gèlent, il est conseillé de fermer l’arrivée d’eau du chalet pour l’hiver. Prenez toutefois bien soin de drainer tous les tuyaux jusqu’à ce qu’il n’en sorte plus rien lorsque vous ouvrez les robinets. Vous pouvez aussi verser de l’antigel à plomberie dans les tuyaux de vidange des lavabos, de la baignoire, et de la douche et dans la cuvette de toilette.

Régler le chauffage à une température minimum de 7 à 10 degrés.

Chauffer le chalet au minimum

Régler les thermostats à une température comprise entre 7 et 10 degrés aidera à prévenir le gel et l’éclatement des tuyaux. Tout chauffage au gaz devrait aussi être éteint avant de partir. Et n’oubliez pas de débrancher la bonbonne de propane du BBQ et de la ranger au cabanon en attendant le retour des beaux jours.

Gros plan sur une main en train de fermer la fenêtre.

Verrouiller aussi les fenêtres

On verrouille les portes, mais on oublie souvent les fenêtres et cela, les voleurs le savent! Sceller certaines fenêtres — surtout celles de la véranda — où passent les courants d’air est aussi une bonne idée pour prévenir l’entrée de neige à l’intérieur. Assurez-vous également que tous les stores ou rideaux sont fermés.

Garde-manger vide.

Vider le garde-manger

Pour éloigner la vermine, évitez les tentations que représente un garde-manger trop plein. Pourquoi ne pas organiser un dernier souper de «  restants  » avec les copains avant le départ? On peut aussi disposer des feuilles assouplissantes parfumées dans les placards, car la forte odeur dissuade les bestioles indésirables.

Débrancher les appareils énergivores comme le frigo.

Débrancher les équipements énergivores

Couper tous les éléments du panneau électrique n’est peut-être pas la meilleure idée, car vous voudrez certainement que la pompe du puisard continue son travail en cas de refoulement. Débranchez toutefois le frigo et le congélateur — vidés au préalable — le four à micro-ondes, le lave-vaisselle de même que la laveuse-sécheuse.

Clapet de la cheminée ou du foyer.

Fermer le clapet de la cheminée

Fermer le clapet de ventilation du foyer est un oubli fréquent. De plus, beaucoup de cheminées ne sont pas protégées par un faîte sur le toit. Saviez-vous que les ratons laveurs femelles aiment bien s’installer au niveau du clapet de la cheminée pour donner naissance à leurs bébés? Assurez-vous que votre cheminée soit inaccessible. Il est aussi recommandé de faire ramoner sa cheminée par un professionnel.

Soupiraux.

Fermer les soupiraux

Certaines bestioles peuvent aussi accéder à votre sous-sol par des trous dans la fondation ou par les soupiraux. Bloquer les soupiraux en hiver est aussi une bonne façon d’isoler le sous-sol et d’éviter que les tuyaux gèlent si vous avez choisi de garder le chauffage au minimum durant votre absence, ou si les tuyaux ont été mal drainés.

Détecteur de mouvement.

Simuler une présence

Un détecteur de mouvement surprendra toute personne dont la présence n’est pas désirée. Vous pouvez aussi choisir de garder quelques veilleuses allumées à l’intérieur en permanence. Autre possibilité : programmer l’éclairage nocturne automatique de la porte d’entrée principale ou celui du lampadaire de rue. Si vous avez le budget, octroyez un contrat sporadique de déneigement pour l’hiver. Les voleurs seront assurément confus. 

Dernier conseil? Avant de partir, assurez-vous d’avoir tout fermé à clé.

Featured

L’ABC de l’inspection d’une propriété

Que ce soit pour évaluer l’état d’une propriété avant de déposer une offre d’achat, ou avant de vendre la vôtre, un courtier ou un agent immobilier détenteur du titre REALTOR® vous recommandera toujours une inspection rigoureuse et professionnelle.

Cet examen, qui doit être réalisé par un professionnel certifié, est une étape essentielle, tant pour obtenir des informations pertinentes à la prise de décision que pour vous assurer une paix d’esprit, et pour vous éviter des conséquences économiques désastreuses.

Inspecteur en bâtiment au travail

Quand dois-je faire appel aux services d’un inspecteur en bâtiment pour l’évaluation d’une propriété?

Une évaluation de votre propriété peut être réalisée en tout temps si vous le souhaitez, par exemple pour planifier des travaux et prévoir le budget approprié. Il existe aussi des situations où il est absolument essentiel de prévoir l’inspection d’une propriété : 

  1. Avant de vendre : afin d’obtenir une évaluation de l’état des lieux complète et objective, de mieux évaluer le prix, de bien cibler les acheteurs potentiels, et de prévenir les litiges onéreux.
  2. Avant de déposer une offre d’achat sur une propriété :; afin de réviser votre offre si besoin, et d’être informé en toute transparence de l’état réel des lieux, et des travaux à prévoir.
  3. Avant la livraison d’une maison que vous avez fait construire :; afin de vous assurer que le constructeur a respecté le contrat et que les normes de construction ont été respectées.
  4. Avant d’accepter une maison en héritage :; afin d’évaluer le leg immobilier. En effet, si le rapport d’inspection indique que les travaux sont plus onéreux que la valeur de la propriété, vous pouvez renoncer à la succession.

Inspecteur en bâtiment avec une cliente

Sur quels critères doit-on se baser avant de retenir les services d’une entreprise d’inspection en bâtiment? 

  1. Le délai de réponse.
  2. La formation et la certification de l’inspecteur par un ordre professionnel.
  3. La garantie d’une assurance contre les erreurs, fautes et omissions.
  4. La rapidité de livraison du rapport complet (certaines entreprises livrent le rapport dans les 24 heures qui suivent l’inspection).

Fissure dans un mur de béton

Quels sont les éléments qui doivent être examinés lors d’une inspection?

  1. La structure du bâtiment, sa solidité, sa consolidation éventuelle.
  2. Les composantes du bâtiment : matériaux, revêtements extérieurs et intérieurs.
  3. Le niveau d’humidité général, les infiltrations dans les murs, la condensation dans les fenêtres.
  4. L’état de la plomberie, des drains, et de la fosse septique, le cas échéant.
  5. L’état du système électrique.
  6. La composition du sol du terrain, l’analyse de la nappe phréatique, la contamination possible.

Vous pouvez également consulter votre inspecteur pour établir les priorités des travaux à effectuer.

Inspecteur en bâtiment avec un client

Dois-je être présent lors de l’inspection? 

Ce n’est pas obligatoire, mais il est fortement recommandé d’être sur les lieux, ne serait-ce que pour profiter de la présence d’un expert afin de poser des questions spécifiques à vos besoins.

Inspecteur en bâtiment qui analyse un mur extérieur en pierres

Combien de temps dure une inspection ?

Selon la localisation de la propriété, ses dimensions, et son âge, l’inspection peut prendre entre quelques heures et deux jours. 

Certains éléments comme une piscine intérieure, ou une inspection de la tuyauterie avec une caméra, peuvent ajouter du temps à l’inspection.  

Une chose est certaine, prendre le temps de faire faire toutes les analyses recommandées par votre inspecteur, ou par votre courtier ou agent immobilier membre de l’ACI, peut vous éviter bien des déboires… et des dépenses !

Inspection en compagnie d’un courtier ou agent immobilier

En quoi mon courtier ou agent immobilier peut-il m’être utile lors d’une inspection?

L’expérience de votre courtier ou agent immobilier peut toujours vous être utile, que ce soit lors de la préparation à l’inspection et de la planification des informations que vous désirez obtenir, lors de l’inspection elle-même si vous souhaitez une seconde paire d’yeux, et d’oreilles, et lors de l’analyse du rapport final pour vous aider à prendre les meilleures décisions. 

Afin de prendre une décision éclairée, il vaut toujours mieux avoir toutes les informations en main. À ce titre, une inspection minutieuse par des professionnels est plus rentable que payer le prix de ne pas l’avoir fait !

Featured

Speed dating immobilier : dix questions importantes à se poser

La plupart d’entre nous sont portés naturellement à acheter une propriété en se basant sur une réaction purement intuitive et émotionnelle. « Je me sens chez moi. » N’est-ce pas? Cependant, trouver cette perle rare, ça peut être frustrant, tout comme rencontrer la bonne personne. Le speed dating (ou rencontres éclairs), a été conçu à l’origine pour rencontrer de manière condensée différentes personnes dans un temps limité. Cette façon de faire connaissance s’est améliorée avec les années et des questions précises permettent de trouver LA personne. Pourquoi alors ne pas utiliser cette même stratégie pour trouver sa maison?

Voici dix questions à poser aux maisons qui veulent vous séduire.

Speed dating immobilier, Nécessites-tu beaucoup d’entretien?

1. Nécessites-tu beaucoup d’entretien?

Évaluez globalement le bâtiment et le terrain. Les platebandes sont-elles remplies de plantes vivaces? Quelle est la superficie de pelouse? Quelle est la garantie du toit? Un toit métallique peut durer jusqu’à 50 ans, tandis que les bardeaux d’asphalte devront être remplacés tous les 10 à 20 ans dans les régions où les chutes de neige et les précipitations sont importantes. La maison est-elle construite avec un matériau résistant comme des planches Hardie? Les insectes, les intempéries et les pics-bois curieux peuvent endommager rapidement une maison en rondin ou en bois, et ainsi nécessiter un entretien continu.

Speed dating immobilier, Es-tu tranquille?

2. Es-tu tranquille?

Prenez le temps d’observer la circulation à différents moments de la journée. Les voisins ont-ils un chien qui aboie ou de jeunes enfants qui aiment sauter sur leur trampoline? Est-ce qu’il y a une caserne de pompiers où les sirènes retentissent constamment à proximité? Est-ce qu’il y a une voie ferrée à proximité? La maison se trouve-t-elle sur une ligne d’autobus importante? À une intersection? À côté d’un restaurant doté d’une terrasse? Y a-t-il une carrière à proximité? Familiarisez-vous avec le quartier et tout ce qui se trouve à proximité.

Speed dating immobilier, Es-tu bien chauffee?

3. Es-tu bien chauffée?

Bien qu’instantanés et efficaces, les foyers au gaz peuvent aussi s’avérer inefficaces selon leur âge et leur puissance nominale. Les foyers au bois nécessitent l’entretien d’une cheminée et un peu de travail de bûcheron, mais ils sont indéniablement romantiques. Les poêles à granules de bois ont une combustion élevée et constituent l’une des options de combustible les plus propres, mais ils peuvent poser un problème en cas de panne de courant (à moins que vous ne disposiez d’une batterie de secours), car ils dépendent toujours de l’électricité.

Les chauffages au propane et à l’électricité (plinthes, fournaises à air chaud pulsé) ont leurs avantages et leurs inconvénients, dont des frais de livraison et des tarifs de temps d’utilisation. Les systèmes de chaudière sont communs dans les vieilles maisons, et les nouvelles technologies ont modernisé l’apparence et l’efficacité des radiateurs traditionnels.

Et il ne faut pas oublier les pertes de chaleur : les fenêtres sont-elles neuves? Doivent-elles être remplacées? La résistance thermique des fenêtres et de l’isolation d’une maison peut rendre les nuits confortables ou vous laissez frissonner.

4. Es-tu flexible? Es-tu prête à grandir?

Si la famille s’agrandit (un chien, un enfant ou les beaux-parents?), est-il possible d’agrandir la maison aussi? Le sous-sol est-il fini? Est-il possible d’ajouter une autre salle de bain? Un garage détaché? Une buanderie au rez-de-chaussée? Y aura-t-il de l’espace pour aménager le studio d’art ou l’îlot de cuisine dont vous rêvez depuis?

5. Aimes-tu le plein air?

La maison est-elle située près de sentiers? D’un parc à chiens? Quelle est l’orientation de la maison? Les fenêtres orientées vers le nord ne sont pas idéales, mais avec un peu de recherche, vous pourrez trouver des plantes qui s’en réjouiront. Aurez-vous une vue sur les levers ou les couchers de soleil? Y a-t-il assez de rangement ou d’espace pour une remise, une terrasse ou un spa? Les arbres qui entourent la maison sont-ils en bonne santé? Dans les régions où l’on trouve l’agrile du frêne, votre cour boisée peut soudainement devenir coûteuse (et clairsemée) s’il faut abattre les arbres infestés.

6. Es-tu un bon investissement?

La propriété est-elle bien située? Les maisons situées dans un quartier en plein embourgeoisement ou dans une banlieue-dortoir prennent généralement de la valeur, mais celles accessibles seulement par bateau et les chalets trois saisons sont plus difficiles à revendre. Il faut prévoir un budget pour certains coûts comme les frais mensuels de copropriété, le stationnement, les déplacements, la tonte du gazon, le déneigement, les vidanges de fosses septiques et le remplacement des électroménagers vieillissants. La majorité de ces renseignements s’obtiennent facilement sur le site REALTOR.ca ou auprès de votre courtier ou agent immobilier.

Speed dating immobilier, As-tu du charme?

7. As-tu du charme?

Quelle est l’histoire derrière la maison? S’il s’agit d’une maison patrimoniale, consultez les archives à l’hôtel de ville. Peut-être que la ferme de vos rêves fait partie du Barn Quilt Trail – vous pourriez être le prochain arrêt! L’intérêt croissant pour les écoles et les églises reconverties a permis de préserver une partie de l’histoire tout en offrant un revenu locatif fiable à l’entrepreneur avisé.

8. Es-tu du type sociable?

La propriété répond-elle à vos besoins en matière d’agrément? Y a-t-il une pièce insonorisée pour les enfants et leur PlayStation? La salle à manger pourra-t-elle accueillir toute la famille? Y a-t-il de la place pour une piscine? Une table de billard? Combien de chambres d’amis?

9. Es-tu bien stabilisée?

Tout commence par les fondations. Si vous pensez à acheter une vieille maison, faites appel à un ingénieur en structure pour l’inspection. Si la propriété est située au bord de l’eau, pensez à l’érosion et aux crues. Vérifiez que les sous-sols et les plafonds ne présentent pas de signes de fuites d’eau ou de moisissures et assurez-vous que les cheminées sont en bon état (et exemptes de chauve-souris!).

Speed dating immobilier, Es-tu ouverte au changement?

10. Es-tu ouverte au changement?

Même si une maison peut sembler parfaite à 100 % après la première visite, inévitablement, vous voudrez la modifier. Est-ce que ce sera possible? Que pouvez-vous sacrifier? Qu’est-ce qui est non négociable? S’agit-il de changements cosmétiques (peinture, éclairage) ou de rénovations au-delà de votre budget?

Si vous êtes intrigué et souhaitez prendre un deuxième rendez–vous, soyez assuré que vous pouvez compter sur votre courtier ou agent immobilier. Celui–ci vous aidera à repérer les signaux d’alarme ou, mieux encore, à trouver d’autres raisons pour lesquelles vous devriez aimer la propriété et en faire votre foyer. L’inscription sur REALTOR.ca comporte des données sur le quartier, le coût de la vie, des données démographiques et des calculateurs qui vous aideront à trouver «la bonne».

Home Insurance for New Homeowners: A Practical Guide

TD-Insurance

You’ve found the right home, which brings new possibilities and plenty of decisions. It also comes with a few important things to plan for, including your home insurance options.

Home insurance can help safeguard your property, personal belongings and financial well-being when unexpected events occur. We’ve collaborated with TD Insurance to help Canadians better understand home insurance earlier in your home buying journey.

Why do I need home insurance?

Your home is likely one of the biggest purchases you’ll ever make, so protecting it is an important part of planning for homeownership.

Home insurance is strongly recommended for the financial protection it can provide. It’s also important to know that mortgage lenders typically require proof of coverage before financing a property, as unexpected damage to your home or belongings can lead to significant expenses.

Home insurance helps protect you from having to cover those costs on your own. Whether you’re buying your first home, moving into a condo, or reviewing your current coverage, taking time to understand your needs can help you feel more confident making informed decisions to protect your investment.  It is recommended to have your home insurance active on your closing or move-in date. This can provide liability coverage if movers or repair professionals are on site.

How to choose the right insurance coverage

Home insurance can help protect your home, belongings, and finances from unexpected events such as theft, fire, and wind damage (subject to coverage limitations and exclusions). Standard policies may also cover temporary living expenses and personal liability, but the protection available depends on the type of policy you choose.

Home insurance is available for homeowners, condo owners, and tenants, with coverage varying by property type and location. Understanding these differences and any risks that may require optional protection can help you choose the right policy.

Coverage names vary by insurer, but home insurance generally falls into three tiers:

1️⃣ All Risks or Comprehensive
The broadest and most common option, covering the physical building and its contents against most risks, except those specifically excluded. Common exclusions are earthquakes and the optional coverages outlined below.
2️⃣ Broad
A mid-tier option that provides basic coverage for your belongings and broader coverage for the building. For example, if an accidental water leak damages both your walls and furniture, damage to the building would be covered unless the cause is excluded, while damage to the furniture would be covered only if that cause of loss is specifically listed in the policy.
3️⃣ Specified Perils or Basic
The most limited and typically least expensive option, covering the building and belongings only against risks specifically listed in the policy. For example, if fire and theft are listed perils, damage caused by a fire or stolen belongings may be covered, but a loss caused by an unlisted peril would not be. It may suit seasonal properties but leaves you with greater financial exposure.

Explore TD Insurance coverage options

Tip: Ask your insurance advisor whether optional coverage is available to help protect your family, valuables and other unique needs.
Optional add-on coverage for unique needs

Optional coverages, or endorsements, are available to help cover losses excluded from the main policy.  Common endorsements offer coverage for sewer backup, overland flooding, above-ground water entry, ice damming and earthquakes. Insurers can also tailor protection to your lifestyle, family and valuables.

Depending on your needs, additional coverage options may be available, including but not limited to:
✓Above-ground water damage protection for water entering through the roof, walls, doors or windows located above ground. An example, if wind-driven rain enters through a damaged roof or window causing damage to the interior of the home.
✓Extra coverage for valuables such as jewelry, artwork or collectibles if they are stolen, lost or damaged. These types of items may be worth more than the limit provided in a standard home policy. Personal valuables coverage can insure an item individually for replacement value or cover a collection under one overall amount subject to policy limits.
✓Identity theft recovery assistance and coverage for eligible expenses to restore your identity after personal information is stolen or misused. If someone uses your stolen personal information to open credit accounts, identity theft recovery may help you contact financial institutions, credit bureaus and other organizations, while covering eligible recovery expenses.
✓Increased liability protection with higher coverage limits for your home and auto policies. If a visitor slips on an icy walkway at your home and the resulting court award exceeds your home policy’s liability limit, Personal Umbrella Insurance may cover the remaining eligible amount, subject to policy terms.
✓Home-sharing coverage for occasional short-term rental activities. If a guest damages your property or is injured during their stay, specialized coverage may help with eligible repair costs or liability expenses that a standard home policy may not cover, subject to policy terms.

Learn more from TD Insurance

Did you know? While standard home insurance may cover sudden and accidental events such as a burst pipe or leaking appliance, other types of water damage like sewer backup or overland flooding may require optional coverage. Ask your insurance advisor what water-related risks are covered and whether additional protection is right for you.

How much home insurance do I need?

When it comes to insurance, there’s no one-size-fits-all approach. Planning ahead can help you choose the right protection that fits your budget. Review how much it could potentially cost to rebuild your home and replace your belongings in the event of a total loss.

It also helps to understand the weather-related risks that may be more common in your region.  Consider how you would recover financially in the event of a major loss and speak with an insurance advisor about suitable coverage and limits. TD Insurance offers customizable options that can help tailor your policy with optional protection and representatives are available to support you by phone or online.

How much does home insurance cost?

Home insurance costs vary based on your property, coverage needs and risk profile. Your premium (the amount paid monthly or annually) is influenced by factors such as your home’s location, age, construction, replacement cost and features, along with your selected coverage and deductible.

Potential savings may be available for bundling home and auto policies, choosing a higher deductible, installing eligible safety devices or being a member of a qualifying alumni, professional or affinity group.

When comparing quotes, look beyond price to assess applicable coverage, limits, deductibles, exclusions and service.

Explore ways you can save on home insurance

Did you know? Paying for home insurance may be easier than you think. Some insurers offer flexible payment options, including credit card and digital wallet payments like Apple Pay®, making it more convenient to manage your policy.
What else should I consider when purchasing or reviewing my home policy?

Notify your insurer before making major property changes, such as renovating or starting a home business. These changes may affect rebuilding costs, liability, risk, coverage and premiums. Keeping your policy current helps prevent coverage gaps, misrepresentation or an undisclosed material change in risk that could affect a future claim.

 

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Home insurance FAQ

What does my policy cover?
Coverage varies depending on your selections. Review your policy renewal documents each year to confirm coverage for your home, belongings, liability and additional living expenses, and whether it is comprehensive or specified perils.
What limits apply?
Check limits for rebuilding, belongings, additional living expenses and valuables, and whether high-value items need extra coverage.
What is a deductible?
A deductible is the amount you pay toward an eligible claim before your insurer pays the remaining covered amount. If a covered claim is $5,000 and your deductible is $1,000, you would pay $1,000 and your insurer would pay the remaining $4,000, subject to policy terms. Choosing a higher deductible may lower your premium, but make sure the amount is affordable if you need to make a claim.
What’s not covered?
Home insurance generally does not cover wear and tear, poor maintenance or the cost of repairing an item that fails. However, resulting damage from a sudden and accidental event may be covered. If a dishwasher component breaks and water damages your flooring or cabinets, the water damage may be covered, while repairing or replacing the failed component or the dishwasher itself typically would not be.
Do I need optional coverage?
Ask your insurance advisor about protection for water damage, earthquakes, identity theft, home sharing, green rebuilding and claim forgiveness. Availability varies.
What discounts are available?
Ask about savings for bundling, buying online, staying claims-free, eligible alarms, newer homes or group membership. Affinity discounts may provide preferred rates if you belong to an eligible alumni association, professional organization or employer group. When requesting a quote, ask whether the preferred group rate can be combined with other applicable savings. Eligibility, discounts and availability vary.
What digital tools are available?
If self-service is important to you, ask how you’ll interact with your insurer. You may be able to access documents digitally, report claims online, update your policy or make payments through self-serve channels. Digital capabilities and service options can vary between insurers.
How do claims work?
If you notice damage to your home, take reasonable steps to prevent further damage, then contact your insurer right away. Most insurers offer digital claims reporting or 24-hour phone support. Keep photos, receipts and a list of damaged items to support your claim. Your insurer will assess the loss, confirm what is covered and explain the next steps.
How should I compare quotes?
Each insurance option is different, so make sure you are comparing equivalent coverage, limits, deductibles, exclusions and options, not price alone.
What information do I need to provide?
Provide accurate details about the home, renovations, occupants, use, security features and claims history.

Glossary of Insurance Terms

Additional living expenses: Reasonable extra costs, such as temporary accommodation, when a covered loss makes your home unfit to live in.

Basic or specified-perils policy: A policy that covers only the causes of loss specifically listed in the policy.

Cash settlement: A claim payment made directly to you so you can arrange eligible repairs or replacement, subject to the policy terms and deductible.

Claim: A request to your insurer for payment or assistance after a loss that may be covered by your policy.

Claim forgiveness: Optional protection that may prevent a first eligible home insurance claim from increasing your premium at renewal, subject to conditions.

Comprehensive policy: A policy providing broad protection for the home and belongings against most risks, except those specifically excluded. Also referred to as All-risk coverage.

Coverage: The protection provided by an insurance policy, subject to its terms, limits, deductibles and exclusions.

Coverage gap: A situation in which a risk, property item or amount of loss is not fully protected by the policy.

Deductible: The amount you pay toward an eligible claim before the insurer pays the remaining covered amount.

Endorsement: An addition or change to a policy that adds, removes or modifies coverage.

Exclusion: A cause of loss, type of damage or circumstance that is not covered by the policy.

Limit: The maximum amount an insurer will pay for a particular coverage, property category or claim.

Material change in risk: A significant change—such as a major renovation or construction, home business or different occupancy—that could affect how the insurer assesses or prices the risk.

Overland flooding: Water overflowing onto dry land from a body of freshwater, such as rivers or dams that seeps into a home through windows, doors, or cracks.

Personal liability protection: Coverage provided in the event you are legally responsible for unintentionally injuring someone or damaging their property.

Policy: The insurance contract describing the coverage, limits, exclusions, conditions and responsibilities of the insurer and policyholder.

Premium: The amount paid monthly or annually to keep an insurance policy in force.

Rebuilding to code: Coverage for eligible additional costs needed to repair or rebuild a damaged home to current building-code standards after a covered loss.

Replacement cost or replacement value: The cost to repair or replace covered property with an item or materials of similar kind and quality, without deducting depreciation, subject to policy terms and limits.

Risk profile: The combination of factors an insurer considers when assessing the likelihood and potential cost of a loss.

Sewer backup: Water or sewage entering a home through a sewer, septic system, sump or drain; this may require optional coverage.

Insurance information in this article is provided by TD Insurance for general informational purposes only and is not intended as insurance, legal, financial, or other professional advice. Coverage, eligibility, products, features, discounts, and rates may vary and are subject to applicable terms, conditions, exclusions, and change. Individuals should speak with a qualified insurance professional about their specific circumstances before making insurance decisions. The insurance information provided does not necessarily reflect the views of REALTOR.ca. REALTOR.ca receives compensation for certain qualifying referrals generated through links in this article.

Canadian Home Sales Dip 0.7% in August as Mortgage Rate Risks Return

If you looked only at the latest national home sales number, you might think Canada’s housing market took a step backwards in August. Home sales fell 0.7%  from July, ending a run of four consecutive monthly increases.

And looking at home sales compared to the same time last year shows a noticeable drop of 6.9%.

But that’s the past. What most Canadian home buyers and owners want to know is how the latest real estate data released from the Canadian Real Estate Association (CREA) means for them moving forward.

Here’s the tl;dr of this month’s data: Sales have remained largely unchanged since May. Home prices have been essentially flat since the spring. Even the amount of inventory available across the country has barely budged for four months.

As always, that doesn’t mean every local housing market looks the same. Conditions in Vancouver can be very different from Calgary, Montreal, Halifax or anywhere in between.

But nationally, the latest data from CREA suggests housing markets have, overall, settled into a bit of a holding pattern.

What has changed is some of the economic backdrop surrounding it.

Here’s what you need to know from August:

  • National home sales declined 0.7% month-over-month.
  • Actual (not seasonally adjusted) monthly activity came in 6.9% below August 2025.
  • The number of newly listed properties increased 3.3% month-over-month.
  • The MLS® Home Price Index (HPI), a tool that tracks home price levels and trends in local neighbourhoods, was unchanged from July and down 3% year-over-year.
  • The actual national average sale price was $668,219, up 0.6% from August 2025.

A chart showing canadian home sales

Canada’s national housing market didn’t move much in August

In this month’s CREA Housing Market Report, Senior Economist Shaun Cathcart summed up the latest national numbers pretty simply.

“I said last month that July was a carbon copy of June and I guess that makes August a carbon copy in triplicate… Basically, no change again,” Cathcart says in the video (watch below).

The 0.7% monthly decline in sales followed increases in each of the previous four months, but activity has effectively been moving sideways since May.

It’s a similar story for home prices, which have remained remarkably stable since the spring.

That stability is notable after a start to 2026 that saw considerably more movement across different parts of the country. Some previously hot markets were cooling, while activity in Ontario and British Columbia remained much weaker.

Over the summer, those differences began moving closer together and the national numbers started to flatten out.

Home sales to new listings chart

More homes came onto the market ahead of fall

There was one number that stood out a little more in August: new listings.

The number of newly listed properties jumped 3.3% from July, reversing three consecutive monthly declines earlier in the summer.

Cathcart points out in the Housing Market Report that the increase wasn’t isolated to one part of the country. Several of Canada’s largest housing markets saw listings rise around the same time, suggesting some sellers may have got an early start on the traditional fall market.

That could be welcome news if you’re currently searching for a home.

With listings rising and sales dipping slightly, the national sales-to-new listings ratio fell from 51.1% in July to 49.1% in August.

For context, CREA considers a ratio of roughly 45% to 65% to generally represent balanced housing market conditions. The long-term national average is 54.7%.

Put it all together and there’s no obvious national advantage emerging for either buyers or sellers heading into fall, but buyers may have a few more properties to choose from.

Canadian home prices remained stable in August

Then there are prices.

The seasonally adjusted National Composite MLS® Home Price Index (HPI) was unchanged between July and August.

Prices have now remained largely unchanged month-to-month since the spring, making this the longest period of national price stability since 2024, according to Cathcart.

Compared with August 2025, the MLS® HPI was still down 3%. However, those year-over-year declines have been getting smaller since January, and August recorded the smallest decrease since October 2025.

The actual national average sale price tells a slightly different story.

Homes that sold in August went for an average of $668,219, up 0.6% from the same month last year.

Those two numbers aren’t necessarily contradictory.

The national average sale price can change depending on the types of homes being sold and where those sales are happening. If a larger share of activity takes place in more expensive markets (i.e. Toronto or Vancouver) or among more expensive properties, for example, the national average can rise.

The MLS® HPI is designed to better track changes in home prices over time without being as heavily influenced by those shifts in the mix of properties being sold.

And, again, national figures only go so far. What’s happening to home prices where you live, or where you’re hoping to buy, could look considerably different.

What does the Canadian housing data for August suggest?

Sales have been largely unchanged for months, prices have stabilized, inventory is sitting close to its historical norm, and the national market remains within balanced territory.

For buyers heading into the fall market, the 3.3% increase in new listings could mean more options to consider without a corresponding jump in competition nationally.

For sellers, more homes hitting the market means understanding local conditions and pricing appropriately could become increasingly important.

And for both buyers and existing homeowners, there’s another factor worth watching again: borrowing costs.

Inflation risks have returned to the conversation, bond yields have moved higher, and the outlook for economic growth remains uncertain.

Fixed mortgage rates are heavily influenced by Government of Canada bond yields, meaning they can move even when the Bank of Canada leaves its policy rate unchanged.

And on the variable side, Cathcart points to a significant shift in what financial markets are expecting.

“A rate hike is not only back on the table for this year,” he says in the Housing Market Report.

A REALTOR® who knows your local market can help you understand what’s happening where you actually plan to buy or sell and how those conditions compare with the national picture.

 

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Contact a REALTOR® today if you’re thinking about buying or selling a home.

Les meilleures randonnées d’automne au Canada

Le Canada regorge de magnifiques sentiers de randonnée pédestre. Il y a tellement de possibilités que chacun trouvera chaussure à son pied, et à son niveau. Pourquoi ne pas profiter des époustouflantes couleurs d’automne pour découvrir un nouveau sentier? Voici quelques-uns de nos coups de cœur, testés et approuvés. Randonneur sur le bord d’un lac au Québec à l’automne.

Cet article a été initialement publié le 26 septembre 2022 et a été mis à jour pour garantir que les informations restent exactes et pertinentes.

Sentier national au Québec (SNQ)

Le majestueux Sentier national au Québec (SNQ) s’étend sur  1650 km et sillonne neuf belles régions touristiques québécoises. De la capitale nationale, Ottawa, jusqu’à la ville de Gaspé, ce chemin balisé rouge et blanc dédié à la randonnée pédestre est le plus long du Québec en milieu naturel. Les écosystèmes (forêts mixtes et de conifères, lacs, rivières, marais, tapis de mousse accrochés aux falaises), qu’il faut quelquefois traverser par un pont suspendu, et les panoramas volés du haut des collines sont à couper le souffle. Le segment d’environ 170 km au cœur de la Matawinie, situé dans la région naturelle de Lanaudière, près de la ville de Joliette, fait partie des coups de cœur de nombreux randonneurs. Moins fréquentée, la section en Mauricie (près de la ville de Trois-Rivières) s’étend sur 90 km et permet de se sentir seul au monde. Des endroits pour dormir, qu’il s’agisse d’un camping, d’un abri trois-murs, d’un refuge, d’un chalet ou encore d’une auberge, sont prévus tout le long du chemin, à distance variable (entre 3 km et 18 km).

Randonneur contemplant la vue depuis le Sentier national au Québec.
Photo : Ariane Arpin-Delorme

Parc national Kluane, au Yukon

On dit du parc national Kluane qu’il est le lieu de tous les superlatifs. Cette aire protégée abrite les plus vastes champs de glace hors des régions polaires et, entre autres, le mont Logan, le plus haut sommet du pays et le deuxième d’Amérique du Nord (5 959 mètres). Les sentiers du parc ont de quoi satisfaire tous les goûts, de la courte promenade familiale à l’expédition de plusieurs jours dans l’arrière-pays. Les parcours proposés font partie des plus incroyables du Yukon. Porte d’entrée du parc national Kluane, la bourgade d’Haines Junction est située sur la route de l’Alaska, un axe populaire qui relie l’État américain du même nom et la Colombie-Britannique. On peut aussi jumeler sa visite avec le festival Kluane Mountain Bluegrass, qui se tient en juin.

Paysage dans le parc national Kluane.
Photo : Ariane Arpin-Delorme

Bruce Trail, en Ontario

L’épique sentier Bruce Trail, long de 1 300 km et qui suit l’impressionnant escarpement du Niagara, a pour but premier d’inspirer le lien entre les humains et la nature. Randonnée, course à pied, ornithologie, photographie et plus encore, le Bruce Trail est une invitation à la nature. À même le parc marin national Fathom Five, il est possible de suivre un segment en boucle, où l’on retrouve d’impressionnants points de vue de pics rocheux et d’eaux turquoise, qui font la renommée de la péninsule Bruce. Par exemple, l’excursion vers l’île Flowerpot, où l’on se rend en une trentaine de minutes de traversier au départ du port de Tobermory, vaut le détour. Sur cette île paradisiaque, un sentier de randonnée offre des arrêts sur les plages de roches, les eaux émeraude du lac Huron et les fameux piliers rocheux aux formes inusitées. La crique Indian Head abrite la célèbre Grotto, attrait incontournable du parc national de la Péninsule-Bruce. Randonneur observant des chutes d’eau depuis le Bruce Trail.

Sentier de la Côte-Ouest dans la réserve de parc national Pacific Rim en Colombie-Britannique

Située sur l’île de Vancouver, la réserve de parc national Pacific Rim offre d’innombrables sentiers pédestres afin de se ressourcer dans la forêt pluvieuse et d’observer sa faune unique, comme l’ours noir ou l’aigle. Le sentier de la Côte-Ouest, parcours de 75 km qui s’étend de la baie Pachena à la rivière Gordon, était anciennement emprunté par les Premières Nations pour faire des échanges et se déplacer. Vous pouvez sillonner la ville de Victoria, son marché, sa gastronomie, ses jardins Butchart et son architecture victorienne, dont l’imposant manoir Craigdarroch. Traverser une partie de l’île de Vancouver permet d’atteindre l’incontournable petite ville portuaire de Tofino, reconnue pour son environnement naturel époustouflant et populaire auprès des surfeurs. On peut y observer des phoques, des orques et des baleines. Femme sur un rocher les bras dans les airs dans le parc national Pacific Rim.

Parcs nationaux Banff et Jasper, en Alberta

Les lacs et montagnes de l’Alberta offrent des paysages parmi les plus spectaculaires d’Amérique du Nord. Avant d’enfiler ses chaussures de marche, on peut faire escale à Calgary, pour profiter de la gastronomie de chefs réputés. La route vers Canmore permet de faire une courte randonnée près des lacs Grassi pour admirer les sommets rocheux des Three Sisters. On peut poursuivre son chemin par la découverte du parc national Banff, qui offre une grande variété de sentiers pédestres dans un environnement enchanteur, incluant le célèbre lac Louise. Les vues panoramiques le long de la promenade des Glaciers sont à couper le souffle! On peut y admirer plus de cent glaciers millénaires qui alimentent de nombreuses chutes et plusieurs lacs turquoise dans les vallées profondes. Enfin, il est possible d’explorer à pied l’environnement alpin du parc national Jasper et du lac Maligne. Paysage dans le Parc national Jasper. Cet article est destiné à vous inspirer pour de futures excursions à pied à travers le Canada! 

6 Red Flags a Home Inspection Can Warn You About

When putting in an offer on a home, one condition that’s almost always included is a home inspection.

A home inspection isn’t generally mandatory, but it can help identify potential concerns before you commit to the purchase. An inspector will typically look at major systems and components such as the electrical, plumbing, roofing, heating and cooling systems, foundation, and visible structural elements.

A standard home inspection is generally a visual, non-invasive examination of accessible areas of the property, so it won’t necessarily uncover every possible issue. Still, a qualified inspector can identify signs of problems that may warrant a closer look.

Requirements for home inspectors vary across Canada, including whether licensing is required. Organizations such as InterNACHI® and CanNACHI® provide certification, training, and standards of practice for home inspectors. When hiring an inspector, consider asking about their training and certifications, experience with the type of property you’re buying, references, insurance, and whether they provide a written inspection report.

Home inspectors examine many different elements of a property, but there are some issues they encounter more often than others. Below are some of the top problems an inspector may spot, sometimes even before walking through the door.

This article was originally published August 22, 2023, and has been edited to ensure the information remains accurate and relevant.

Cracks in the drywall and foundation

1. Cracks in the drywall and foundation

Old or new, most homes will have minor cracks. Although the thought of seeing cracks in a wall or floor might put you off, Shawn Anderson, CanNACHI®-certified owner of The Inspector in Vancouver, British Columbia, says “most drywall cracks are due to settlement or poor installation and are not often a cause for concern.” The location, shape, size and direction of a crack is also important.

🚩 “Horizontal, uneven, and/or diagonal cracks could be an indication of movement,” says Anderson, “as well as cracks in the foundation which could be a possible sign of a major problem.”

Common electrical problems

2. Electrical work

The most common electrical issue Anderson sees during an inspection is unsafe electrical installations.

Both of these issues are a safety concern because they can cause damage to electrical infrastructure. Although it’s harder for an untrained eye to spot electrical issues, some easy ones to look for during a walkthrough include flickering lights, loud buzzing sounds, and crowded or tangled wiring.

🚩 “Often the wrong size breaker is installed or multiple circuits are on one breaker (also known as double tapping),” he says. Flickering lights can also be an indication of poor electrical work.

Plumbing inspection

3. Plumbing

When it comes to plumbing, inspectors will take a look at the hot water tank, drainage system, fixtures, metres, and valves. Hot water tanks last about 10 years, so if your prospective home is nearing this age, be aware you may need to replace the tank if you own it. Your home inspector will be able to spot an aging plumbing system, and give you an idea of when it might need to be repaired.

Checking water pressure is also important. Too much or not enough pressure can damage the fixtures and pipes. Although it’s best to get a professional’s opinion, if you want to test this on your own there are “easy water pressure testing devices available on sites like Amazon that attach to the end of a faucet to shower neck,” says Anderson.

🚩 Moisture in the walls can be a big indicator of a plumbing issue, so if a home inspector spots this, they consider it a red flag almost immediately. Moisture could also mean the presence of mould, which is another big issue.

4. HVAC systems

Home inspectors also spend time examining the heating, ventilation, and air conditioning (HVAC) of a home. An inspector will check to see if there are any immediate issues with the thermostat and controls, wiring system, as well as the fan, gas lines, and electrical current.

Many home inspectors can perform HVAC checks, and in some instances, it may be a good idea to bring in a professional who specializes in this space.

🚩 Open windows (at a time of year when it seems a bit odd to do so) could be an indicator of an ill-working HVAC system, as homeowners may be trying distract from the system’s inability to regulate temperature. Dents in the metal, peeling tape, loose seams, and torn or collapsed sections of flex ducts could also be indicators the system hasn’t been properly maintained during the current homeowners’ tenure.

Inspecting HVAC systems

5. Roof issues

The roof is one of the first things you see when walking up to a house, and arguably one of the most important to make sure is in good shape. A home inspector will likely climb on top of the roof to get a closer look. They’ll look for things like missing or warped shingles, too much caulk or sealant, and should make sure the flashing is in good shape. Flashing is a thin piece of metal installed to keep water away from the walls and chimney.

🚩 Two other roof issues that can occur are moss and a saggy roof. Which one is worse you ask? Anderson says that although moss can cause premature deterioration, it can be cleaned, but a sagging roof is much more serious and requires investigation to determine its cause.

Roofing inspections

6. DIY home repairs

Any time you do a home repair by yourself, you’re risking major red flags come home inspection time. While doing the repairs yourself, or through an unlicensed professional, might save you costs upfront, they can seriously impact the result of a home inspection and end up being the reason a sale falls through.

This isn’t to say you can’t do any types of repairs yourself, but when it comes to things that affect the functionality—especially electrical, plumbing or structural projects—it’s best to leave it to the pros.

🚩 The red flags here depend on the project, but typically things like disorganized electrical wires, outlets installed too close to water sources, cracked or jagged tiles around corners, furniture placed in odd spots to hide damage to walls or unsightly warped floors, can all indicate a DIY project which could lead to larger issues and discoveries.

Before buying a home, getting a home inspection by a licensed CanNACHI® professional is essential. Not only does it help identify major red flags that could end a deal, but it also gives you insight to potential issues that may come down the line if you chose to go through with the purchase. Moreover, you can have time to budget and prepare for maintenance and potential future upgrades. Finally, a home inspection can also give you leverage during the negotiating process to get you that perfect price.

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What to Expect on Closing Day

Closing day is the day you get the keys to your new home. Exciting? Definitely! But it can also be a little overwhelming, especially for first-time home buyers. What actually happens? What do you need to do as a buyer? What should you expect from the sellers? Your REALTOR®? Your mortgage advisor?

“Closing day is the moment everything you’ve been working toward becomes real,” says Guy De Picciotto, a Mortgage Specialist with RBC. “The funds are transferred, the title is registered, and the home is officially yours. It’s an incredible milestone, but it only feels seamless when buyers have prepared for every piece of it well in advance, including the financial side.”

Understanding closing costs

Closing costs are separate from your down payment and they’re one of the most consistently underestimated parts of buying a home. RBC suggests budgeting 3% of the purchase price on top of your down payment. This budget can cover costs like:

Land Transfer Tax (LTT):
Usually the biggest line item. Most provinces charge a tax based on the purchase price. Toronto buyers pay both a provincial and municipal LTT, while Alberta and Saskatchewan charge only a small title transfer fee. First-time buyers may qualify for provincial rebates on the LTT, so be sure to check with your lawyer.
Legal fees and disbursements:

Every purchase requires a real estate lawyer (or notary in Quebec). Make sure to shop around and budget for title registration, mortgage prep, and closing-day fund transfers. Ask for a written quote upfront.

Title insurance:

A one-time premium that protects you and your lender against title defects, fraud, and boundary issues. Required by most lenders; an owner’s policy is also recommended.

Home inspection:

An inspector will evaluate the home’s structural condition, roof, plumbing, electrical systems, HVAC, and major appliances, flagging any issues that could lead to costly repairs down the road. It is usually paid before closing, but factor it into your total budget.

Property tax and utility adjustments: 

If the seller has prepaid taxes or utilities past the closing date, you’ll reimburse them the prorated difference. These appear on your statement of adjustments. Review it with your lawyer before closing day.

Mortgage default insurance PST (if applicable):

If your down payment is under 20%, your premium from CMHC, Sagen, or Canada Guaranty is added to your loan. But in Ontario, Manitoba, and Quebec, the PST on that premium must be paid in cash at closing and cannot be rolled into the mortgage.

These are some of the most common one-time closing costs, but depending on your province, property type, and mortgage, there may be others, such as appraisal fees, status certificate costs for condos. Start building your closing cost estimate the moment you begin making offers. Your RBC Mortgage Specialist can help you understand and budget for all these costs and your statement of adjustments will confirm the final number before closing day arrives.

Closing vs. completion vs. possession days

In Canadian real estate, completion day and closing day are often used interchangeably in casual conversation, but they can mean slightly different things depending on where you are and what your contract says.

  • Completion day is the day when the purchase is legally finalized. The buyer’s lawyer transfers the funds to the seller’s lawyer, the title is registered at the land titles office, and the deal is officially complete.
  • Closing day is often used to mean the same thing, but some provinces and contracts distinguish it from possession day (the day the buyer is allowed to physically move in).

For example, in Ontario, closing day usually means both: the funds and title are transferred and the buyer gets possession the same day. In British Columbia, however, it’s common for possession day to be the day after completion. That means the sale is finalized on completion day, but the buyer doesn’t get the keys or move in until possession day.

“The process can look complicated on paper,” says De Picciotto. “But when your mortgage documents are signed, your funds are confirmed, and your lawyer has everything they need ahead of time, it really does come together smoothly.”

Selling before you buy: managing your move and your cash flow

Not every closing day is about your first set of keys. If you’re selling your current home to buy your next one, you’re juggling two transactions, and the timing and cash flow can get tricky. Here’s what to keep in mind so both closings go smoothly.

“There are a few ways to bridge that gap, and the right one depends on your timeline, your equity, and how flexible your dates are,” says De Picciotto.

Here are a few strategies to manage the move and your cash flow when selling before buying:

Coordinate your closing dates:
Ideally, your sale closes a day or two before your purchase, so the proceeds are available for your down payment. Your REALTOR® and lawyer can help negotiate dates that work for both sides.
Ask about bridge financing:

If your purchase closes before your sale, your lender may offer a bridge loan, which is a short-term loan secured against both properties, typically lasting 30–90 days. You’ll need a firm sale agreement on your current home to qualify, so talk to your RBC Mortgage Specialist early.

Budget for two sets of closing costs:

You’ll pay closing costs on both transactions. From legal fees to land transfer tax, and adjustments on the purchase, plus legal fees and commissions on the sale. You may need short-term storage and temporary housing, overlap costs like double utility payments or bridge loan interest. Make sure to factor these costs into your cash flow plan.

Know your net equity position:

Your sale proceeds aren’t all spendable cash. After paying off your mortgage, commissions, and legal fees, what’s left is what you actually have for your next down payment.

Can you move in the moment the home is officially yours?

That depends on the contract.

“I get this question a lot, and the honest answer is: not quite,” says De Picciotto. “Before your lawyer can release possession, the mortgage funds need to be fully advanced and received on their end. That process usually takes a few hours on closing day. So while everything may be signed and sealed by mid-morning, you may not get the green light until early afternoon. I always tell clients: don’t book your movers for first thing in the morning. Give yourself a buffer, and confirm the expected fund transfer timeline with your lawyer a day or two before.”

What to expect with the key handover

Nothing says, “Yay, this is real!” like unlocking your new front door. But first, you need the key. So how do you get it? This process also depends on where you live, what your contract specifies, and how the REALTORS® in your transaction prefer to handle things.

The key release only happens once everything is official. So if your transaction closes on a Friday afternoon and your lawyer has already left for the day, you may need to wait until Monday to get into the new place. Planning ahead (and confirming your lawyer’s hours!) can help avoid this stressful surprise.

The buyer’s closing checklist

Buyers can get caught up in the excitement of the transaction and miss doing a few things that will make their move (and the logistics of their first couple of days as homeowners) a little smoother.  Here are some tips to be fully prepared for closing day:

✓Do a final numbers check with your lawyer or notary: Make sure all the transfer papers,  land title forms, and the statement of adjustments are signed and ready to go.
✓Line up your utilities, services, and mail forwarding early: Contact your electricity, gas, water, and internet providers to schedule the switchover, and submit a Canada Post mail forward at the same time. Some providers need up to 30 days’ notice, so don’t leave this to the week of closing.
✓Confirm your home insurance is active before closing day: Your lender requires proof of insurance before advancing mortgage funds. Make sure your policy is in place and your insurer knows your possession date; your lawyer will ask for a certificate of insurance at closing.
✓Review your mortgage documents before you sign: You’ll sign your final mortgage documents at your lawyer’s office, but look them over beforehand. Make sure the rate, payment amount, and amortization period all match what you agreed to with your lender.

Once you’re in…

✓Do a walk through the moment you get the keys: Check that the home is in the same condition as when you signed the contract: appliances, heating, water, and overall state. Take photos or video of anything that concerns you right away. The sellers are contractually obligated to have the house in substantially the same condition as when the contract was signed.
✓Change the locks and update your security codes: You don’t know how many copies of the old keys are out there. Make this one of your first tasks.
✓Set up your mortgage payments: Confirm your first payment date and that the pre-authorized debit is linked to the right account. It’s easy to overlook this in the chaos of moving, but missing that first payment can affect your credit.

Be prepared for some big emotions

“I’ve walked alongside a lot of clients on closing day, and the emotions are always real: excitement, relief, sometimes a little disbelief that it’s finally happening,” says De Picciotto. “The financial prep is what I’m here for, but what I always tell people is that closing day is so much bigger than the numbers. It’s the start of something new, and that’s worth taking a moment to appreciate.”

Closing day may look like the finish line, but it also truly is the start of something new. With proper prep and the right guidance from a trusted REALTOR®, the process can be smooth, stress-free, and full of joy.

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This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. The information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.

10 questions à se poser avant d’emménager avec votre coloc

L’idée de vous installer avec un colocataire peut sembler séduisante, surtout si c’est avec une personne avec qui vous vous entendez déjà bien. Vous allez partager les frais, vivre peut-être une première expérience loin des parents, dans un nouvel espace que vous allez décorer à votre goût. Mais avez-vous pensé à tout? Voici 10 questions à vous poser avant de partager votre nouveau logement avec quelqu’un. Colocs qui déménagent

Cet article a été initialement publié le 10 janvier 2024 et a été mis à jour pour garantir que les informations restent exactes et pertinentes.

1. Avez-vous les mêmes attentes?

Il faut savoir respecter l’espace et l’intimité de l’autre. Tout le monde n’a pas les mêmes habitudes de vie. Certains sont matinaux, d’autres sont noctambules. Vous êtes peut-être très sociable et vous aimez recevoir des invités. À moins que vous préfériez le calme. Discutez de vos habitudes et assurez-vous que vos styles de vie sont compatibles.

2. Qui signera le bail?

Allez-vous avoir un seul bail ou des baux séparés? Quel sera le nom sur le bail? Le vôtre? Vos deux noms? Comment allez-vous vous organiser pour le paiement du loyer? Qui sera responsable?

3. Quelle est la capacité de votre colocataire à payer?

Il est important de connaître la situation financière de votre futur coloc afin de vous assurer de sa capacité de payer sa part du loyer chaque mois. Il est conseillé de mettre par écrit les modalités de paiement du loyer, mais aussi d’autres frais.

4. Avez-vous une auto?

Si l’un de vous deux possède une auto, il faut clarifier dès le début comment vous allez éventuellement la partager. À quelles conditions? Quels horaires? Qui paiera l’essence, l’assurance, l’entretien? Et où allez-vous la stationner?

5. Aurez-vous des animaux de compagnie?

Si l’un de vous souhaite avoir un animal de compagnie, assurez-vous d’être sur la même longueur d’onde. Avoir un chien, un chat ou même un lapin implique un engagement et des responsabilités. Qui s’en occupera? Qui le nourrira? Qui le sortira? Qui paiera les frais du vétérinaire? Assurez-vous que votre colocataire est d’accord et, surtout, que le bail le permet. Évier de cuisine très sale

6. Avez-vous la même notion de la propreté?

L’hygiène et l’ordre sont des sujets sensibles. Ça crée déjà souvent des tensions chez les parents, mais ça peut aussi en créer avec les colocataires. Il faut s’entendre sur les normes de propreté à respecter dans les espaces communs, comme la cuisine, la salle de bains ou encore le salon. Il faut aussi se répartir les tâches ménagères de façon équitable et les faire régulièrement.

7. Combien de temps allez-vous rester ensemble?

Il faut savoir si vous avez les mêmes projets à long terme ou si l’un de vous envisage de déménager, de voyager, de changer de travail ou même de se marier. Il faut aussi discuter de ce qui se passe si l’un de vous veut partir avant la fin du bail : comment trouver un nouveau colocataire, comment transférer le bail et comment partager les frais de déménagement?

8. Vous entendrez-vous à long terme?

Aujourd’hui vous êtes peut-être des amis. Mais, vous entendrez-vous au quotidien, et avez-vous des atomes crochus? Avez-vous des centres d’intérêt communs, des valeurs similaires? Vous faites-vous confiance, vous respectez-vous, vous soutenez-vous? Comment allez-vous gérer les conflits, les compromis ou les frustrations? Deux colocs qui déplacent les meubles dans leur nouveau logis

9. Avez-vous les mêmes goûts?

La décoration des espaces communs doit faire l’objet d’un accord mutuel. Discutez de vos goûts et assurez-vous que chacun se sente chez soi, avant de repeindre le salon ou de changer tous les cadres.

10. Finalement, pensez à vous faire aider par un courtier ou un agent immobilier

Saviez-vous que les courtiers ou agents immobiliers peuvent vous conseiller et vous accompagner tout au long du processus de location? Ils peuvent aussi vous aider à trouver le logement qui correspond à vos besoins, à votre budget et à vos attentes. Vous trouverez les courtiers ou agents immobiliers de votre secteur sur le site REALTOR.ca. La colocation n’est pas seulement une question de partage des coûts, mais aussi de partage d’un lieu de vie. Il est donc essentiel de respecter l’espace de chacun et de communiquer ouvertement sur les sujets susceptibles de créer des tensions. Définir des règles claires dès le départ pourra vous aider à prévenir les malentendus et les conflits éventuels.

Common Hiccups During the Home Buying Process

Wouldn’t it be great if the home buying process always went smoothly with no issues?

The reality is, sometimes there are hiccups that can stall a sale. From getting cold feet to your home inspection revealing unwanted issues, there are ways you can navigate these bumps in the road before continuing on your journey.

In this article, we gained some insights from REALTORS® as to how these circumstances can impact a sale and how to manage them.

In this article, we go over what happens if:

This article was originally published July 27, 2023, and has been edited to ensure the information remains accurate and relevant.

Find out what happens if the closing date doesn't match the sale of your current home

Your offer is rejected

John Mark Wilderspin, a REALTOR® in Winnipeg, Manitoba, said you always want to put your best foot forward during the offer process.

“You want to leave the table knowing that at the end of the day, if someone paid $1 more, you’d be happy with what you did,” he said.

But sometimes the perfect home is almost at your fingertips, and soon after putting in an offer you get the news it’s been rejected. Now you have two options—make another offer or walk away.

If you’re making a second offer, if it’s right for you, consider eliminating one or two conditions, said Wilderspin—though, remember, it’s never advised to remove the home inspection condition. There’s also the option of moving up the closing date or increasing your offer price. In some circumstances, it’s just best to move on and find another dream place you can call home. Your REALTOR® can assess the situation and provide the best course of action, keeping your goals (and budget) in mind.

Find out what steps to take if a home inspection reveals problems

The closing date doesn’t align with your current home’s sale

Let’s say you’ve sold your home to buyers with a closing date of Oct. 1, but the home you’ve purchased doesn’t have a closing date until Oct. 15. In this case, you may need to find a place to stay while you wait for the keys to your new home.

You can consider putting your possessions in storage and staying with friends and family, or staying at a short-term lease. It will be an added expense, but it could be the difference between getting the best financial offer for your home, or having to settle for something less in order to have your preferred dates line up.

Chris Craik, a REALTOR® in Saskatoon, Saskatchewan, said “seeing the bigger picture is important. A week or two may be an inconvenience, but it may be worth it to purchase your dream home.”

Your REALTOR® can help find a short-term rental as needed, and will also help negotiate with the other REALTORS® involved in the sales to get your closing dates as close as possible.

Make the buying process smoother by working with a realtor

Home inspection reveals issues

As mentioned earlier, home inspections should always be included as part of your conditional offer on a home, as they can help identify both major and minor issues that could cost you money once you take possession.

If a home inspection brings up issues that aren’t enough to end the entire sale, your REALTOR® can work with the seller’s agent to negotiate terms for both parties. In situations like this, typically the costs of repairs are split between the buyer and the seller—but this depends on how the condition was laid out in your initial offer.

However, if there are major structural, electrical, or mould issues, your REALTOR® may recommend getting out of the deal completely. Even if you think the home is perfect in every other way, you’ll need to think of the big picture and ask yourself if you’re willing to put up with major issues and the financial commitment required to fix them. Odds are, you’ll be better off finding a new property—as heartbreaking as that may feel.

Reevaluate your home plan and make any necessary adjustments

You get cold feet

Buying a home is one of the biggest purchases you can make in your life. Getting cold feet is not only normal, but it’s to be expected. Whether the jitters set in at the beginning or end of the process, you want to make sure you don’t lose money because of indecision. Working with a REALTOR® can help calm your home buying nerves. A big part of their job is to help you make smart, informed decisions for your lifestyle and future plans.

“Instead of looking at it as climbing a mountain, concentrate on your next move and keep focused on the task at hand,” said Craik.

There are some moments where cold feet will cost you, and this includes after your offer is firm. In this case, you may need to forfeit your deposit. Moreover, until you’ve got those keys in hand, it’s best to avoid any major life changes, like purchasing a car or switching jobs, as this may affect your ability to secure financing.

You get discouraged you’re not finding anything

“When you get discouraged, re-adjust your expectations and wait it out,” said Wilderspin. “Try to buy in the off-season when the market is a bit quieter.”

If you can’t find anything that meets all the boxes on your checklist, try seeing if you can turn some must-haves into nice-to-haves, such as parking or a big backyard. Another strategy to consider is buying what works for you and your family at this time.

“Sometimes we get so caught up in finding our forever home that we miss out on something that fits our current lifestyle,” said Craik. “As life moves on and things change, there’s always the option of selling and finding a space that’s bigger.”

If you get discouraged, take a moment and think about why you started in the first place and re-adjust your plan where necessary.

Whether it’s your first time or you’re a seasoned pro, sometimes the home buying process is not as smooth as we would like. Although there can be some hiccups along the way, your REALTOR® is there to help you overcome barriers during the home buying process.

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Tout savoir sur les frais de condo

Acheter un condo peut être intéressant pour les acheteurs qui n’ont pas le goût d’entretenir un terrain ou pour qui le prix des maisons est trop élevé. Les condos offrent souvent des accès à une piscine, à un gym et à plusieurs autres services intéressants. Toutefois, cette option vient avec un prix à payer : les frais de condo s’ajoutent à l’hypothèque et on doit en tenir compte dans son budget. Depuis le printemps 2022, au Québec, les copropriétés doivent constituer un fonds d’autoassurance afin d’avoir une réserve qui couvre la franchise la plus élevée à payer en cas de sinistre, comme un dégât d’eau.  Mais expliquons tout d’abord ce que sont les frais de condo. Ce sont des charges communes que chaque copropriétaire d’un condo doit payer. En général, cette somme sert à financer l’entretien du terrain et des espaces communs (par exemple le gazon, les frais de déneigement, le ménage des espaces communs, ou l’entretien de la piscine s’il y en a une). Cet argent est géré par un syndicat de copropriétaires et inclut un fonds de prévoyance qui doit être de 5 % au minimum des frais de condo, et qui servira aux situations urgentes et réparations majeures. Le montant des frais de condo est fixé à partir du budget annuel de la copropriété, mais peut facilement grimper au-delà de 300 $ par mois. 

Cet article a été initialement publié le 08 Août 2022 et a été mis à jour pour garantir que les informations restent exactes et pertinentes.

Les frais de condo, qu’est-ce que c’est?

En tant que propriétaire, vous êtes responsable des frais relatifs à votre unité, mais vous devez aussi payer des frais pour ce qui est en copropriété, comme la structure de l’édifice, les aires communes, le terrain et le toit. On serait porté à croire que les frais de condo sont calculés en fonction de la surface habitable d’un condo. Toutefois, d’autres critères sont aussi pris en compte, comme la valeur relative de la fraction d’un copropriétaire. 

Méfiez-vous des frais de condo trop bas! 

Il arrive que les promoteurs affichent des frais de condo très bas pour attirer les acheteurs, et négligent alors d’avoir un bon fonds de prévoyance. De mauvaises surprises peuvent s’en suivre, telles des cotisations spéciales auprès des copropriétaires pour payer des réparations ou dépenses imprévues.  Plusieurs personnes pensent à tort que les charges d’une maison sont moins élevées que les frais de condo, mais il ne faut pas comparer des pommes et des oranges, car les frais de condo incluent aussi des services pour les parties communes ou des services comme la piscine ou le gym.

À quoi sert le fonds de prévoyance?

Le fonds de prévoyance est une réserve d’argent qui sert à couvrir des travaux majeurs d’un immeuble dont le syndicat de copropriété est copropriétaire. Cet argent peut servir par exemple à refaire le toit, effectuer des travaux dans les aires communes ou réparer les balcons. Il représente au minimum 5 % des frais de condo, mais ce pourcentage est la plupart du temps nettement insuffisant en cas de bris, de manque d’entretien ou de négligence. Cela arrive donc régulièrement que les copropriétaires soient appelés à débourser des “sommes extraordinaires” pour régler un problème, et qu’ils doivent payer d’une seule traite. Il est important de noter que les frais du fonds de prévoyance ne peuvent pas être récupérés lors de la vente du condo.  Vous voulez en savoir plus sur les frais de condo et ce qui s’y rattache? Avant d’acheter une copropriété, prenez le temps de bien vous informer auprès d’un courtier détenteur du titre REALTOR®. 

Bank of Canada Holds Rate at 2.25% as Housing Activity Rebounds

The Bank of Canada announced Wednesday, June 2, that its policy interest rate will remain unchanged at 2.25%, extending the holding pattern to seven straight announcements.

Canada’s central bank cited the fluidity of new U.S. tariffs and Canadian counter-measures, as well as the continuing conflict in the Middle East, as reasons for staying the course. Other factors, such as tightening financial conditions and consistently rising bond yields, were also considered in its decision making.

Canada’s economy picked up in the second quarter, with GDP growing 3.3% after a much weaker start to the year. The gains were fairly broad, with consumer spending increasing, and what’s interesting to note in the Bank’s report is how housing activity is showing signs of a rebound after several sluggish quarters.

That lines up with recent national housing data from the Canadian Real Estate Association, which showed home sales edging up 0.5% between June and July, marking the fourth consecutive monthly increase. The national MLS® Home Price Index—the most advanced and accurate tool to gauge a neighbourhood’s home price levels and trends—also increased 0.1% month over month, its first increase since November 2024.

“Overall, recent data reaffirm Governing Council’s view of a broadening recovery in Canada’s economy. However, uncertainty is high and new US tariffs and threats of further action pose risks to the sustainability of the recovery.”
– Bank of Canada

What homeowners, home buyers and sellers need to know following the Bank of Canada rate announcement

Variable Rate Mortgages
For Canadian homeowners with variable rate mortgages, today’s announcement means their borrowing rate should remain unchanged once again.

Fixed Rate Mortgages
Fixed rate mortgage holders won’t see an immediate change either, although the rates available to someone buying a home or renewing a mortgage can still move independently of the Bank of Canada. Since Government of Canada bond yields are an important influence on fixed mortgage pricing, a Bank of Canada rate hold doesn’t necessarily mean fixed mortgage rates are holding, though. (More on this below.)

For Home Buyers
Today’s announcement does remove one immediate variable from the equation: lenders aren’t expected to adjust their prime rates as a direct result of the decision, meaning variable mortgage rates should remain relatively steady for the time being (but of course, these days, nothing is certain.)

How do interest rates spur the housing market?

This was the basis of a recent Bank of Canada report that suggests lower interest rates can help bring buyers back into the housing market, particularly when the job market is strong. When borrowing costs fall, home sales can respond fairly quickly.

New housing supply, however, takes longer to catch up. Lower rates can encourage more construction, the report says, but the research found the impact on housing starts can take roughly two years to become significant.

That gap between demand and supply can put additional pressure on home prices. The research suggests interest rates can help stimulate housing activity, but increasing the supply of homes requires measures that go beyond monetary policy.

The federal government has stated it is trying to tackle the supply side more directly. Build Canada Homes, launched in 2025 and now being established as a Crown corporation, is using federal land, financing and partnerships with provinces, municipalities and housing providers to help get more homes built.

What mortgage rates are available in Canada right now?

For those looking into getting a mortgage, you may find things are moving in a more expensive direction.

As of September 2, Ratehub.ca lists some of the lowest nationally available mortgage rates around:

Term
Type
Rate
3-Year
Fixed
3.94%
5-Year
Fixed
4.09%
5-Year
Variable
3.30%

That five-year fixed rate is one to keep an eye on. Rates dipped below 4% earlier this summer, but rising bond yields have since nudged some fixed mortgage rates back up.

It’s important to note exact rates vary depending on the lender, your down payment, the property, your credit profile, whether the mortgage is insured and other factors.

So, while the Bank of Canada has been in a holding pattern, the mortgage market hasn’t necessarily been standing still.

Writer’s note: These are examples rather than guaranteed offers. Banks and other lenders regularly provide discretionary discounts, and the rate offered to an individual borrower may be lower or higher. Mortgage rates can also change at any time.

Is your mortgage up for renewal soon?

For homeowners approaching a mortgage renewal, seven consecutive Bank of Canada holds at least provide some stability on the variable side of the equation.

Many Canadians who originally took out mortgages when rates were exceptionally low are still renewing into a much different borrowing environment. If your renewal is approaching, it’s important you don’t wait for the final few weeks to start exploring your options.

Your current lender may send you a renewal offer, but you aren’t required to accept it without comparing what else is available.

Consider the “4 Ps” when moving a mortgage:
✓prepayment privileges;
✓penalties;
✓portability; and
✓payment flexibility.

You’ll also want to find out whether there are fees involved in moving your mortgage and whether a competing lender is willing to cover some of those costs.

Here’s what you need to know if your mortgage is up for renewal

Why working with a REALTOR® is important

Your REALTOR® is your personal real estate MVP. While you’re figuring out financing, they can already get to work behind the scenes.

If you’re buying, this means setting up searches for you, attending open houses on your behalf, and asking around to their connections about what might be coming available.

If you’re selling, your REALTOR® can get to work marketing your property right away, getting it ready for staging and compiling documentation, all without severely disrupting your routines.

Thankfully REALTORS® monitor market trends and housing data to make sure, whether you’re buying or selling, your best interests are kept top of mind.

Don’t put it off any longer. Find your REALTOR® today.

6 signes qu’un inspecteur devrait reconnaître du premier coup

Si l’embauche d’un inspecteur en bâtiment certifié n’est pas obligatoire au moment de l’achat d’une propriété, l’expertise et les précieux conseils de ce professionnel peuvent certainement vous sauver du temps, de l’argent et beaucoup de soucis.  Selon ce qu’il ou elle peut déceler à l’inspection, vous aurez la possibilité de réévaluer votre offre d’achat, d’identifier les problèmes qui doivent être réglés avant de prendre possession de votre maison, voire même de décliner ou de faire une offre d’achat avant qu’il ne soit trop tard.


 Plafond qui coule

Cet article a été initialement publié le 22 novembre 2023 et a été mis à jour pour garantir que les informations restent exactes et pertinentes.

Autres professionnels à consulter avant de vendre

En tant que propriétaire-vendeur, n’hésitez jamais à faire appel à des professionnels pour réparer, rénover ou restaurer votre propriété lorsqu’il s’agit de travaux aussi importants que la structure, l’électricité ou la plomberie. Il serait en effet dommage de voir une vente vous échapper lors de l’inspection parce que vous faites des travaux vous-même au lieu de les confier à l’expertise d’un professionnel. Avant de paniquer à la moindre faille dans le plâtre, il convient également de statuer avec votre inspecteur sur ce qui constitue un facteur alarmant. En effet, si vous n’avez aucune connaissance en rénovation, un budget serré, et de jeunes enfants, vous n’aurez pas les mêmes critères que si vous êtes entrepreneur en construction, avec du temps, et un budget conséquent. Vous devez donc considérer  :

  1. vos connaissances en rénovation, construction et gestion de chantier;
  2. le budget dont vous disposez pour effectuer des travaux, s’il y a lieu;
  3. le temps et l’énergie dont vous disposez pour gérer des travaux, avant, ou après la prise de possession.

Mur de brique qui s’effrite

Autres signes

Au-delà des indices habituels liés à la structure, la toiture, l’électricité, la plomberie, la fondation, la fenestration, l’humidité et l’infestation, voici six problèmes que votre inspecteur devrait vous signaler :

  1. Des flaques d’eau stagnante sur le terrain; signe que le drainage ne se fait pas bien, et que vous risquez d’avoir des problèmes (graves) d’infiltration.
  2. Des portes et fenêtres qui ne ferment pas, ou qui ferment mal; signe que la structure a bougé, et risque de bouger encore.
  3. Une odeur nauséabonde ou d’humidité; signe potentiel de fuite d’eau, d’infiltration par la toiture ou la fenestration, de moisissure, ou d’infestation de vermine entre les murs, dans la structure, ou dans la cave. Tant que vous n’aurez pas identifié la source, vous ne connaîtrez pas l’ampleur du problème ni les coûts qui y seront liés.
  4. Des fissures dans les fondations; si de minces fissures sont normales, des espaces de plus de deux centimètres peuvent être signe d’une fondation instable. Demandez à votre inspecteur s’il est qualifié pour examiner des fondations, et sinon, demandez à un expert.
  5. Des rénovations « faites maison ». Il s’agit de rénovations effectuées de manière non professionnelle et qui ne répondent pas aux normes du bâtiment. Il faut souvent tout défaire, et tout refaire, ce qui peut s’avérer coûteux.
  6. Plusieurs pancartes « à vendre » dans le voisinage. informez-vous! Est-ce le signe d’un quartier devenu problématique? D’un projet industriel qui risque de dévaluer les propriétés? De risques accrus d’inondation ou d’exposition à des matières toxiques?

En bref, il vaut toujours la peine d’obtenir les vraies réponses afin d’évaluer les risques qu’on est prêt à prendre, ou ceux qu’on préfère éviter.