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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».

Looking to Buy a Cottage? Here’s What You Need to Know

Owning a cottage is a dream for many Canadians, offering a place to relax, reconnect with nature, and make lasting memories with family and friends.

But buying a recreational property comes with considerations that differ from purchasing a primary residence.

From waterfront regulations and septic systems to year-round access and ongoing maintenance costs, there’s plenty to think about before making an offer. Here’s what you need to know before buying a cottage so you can make an informed decision and find the right property for your lifestyle.

This article was originally published Feb. 11, 2021, and has been edited to ensure the information remains accurate and relevant.

Cottage
Image via Unsplash

Greg McInnis, a sales representative and REALTOR® with Chestnut Park Real Estate Limited who specializes in Ontario’s Haliburton region, says the cottage market was ‘going gangbusters’ consistently throughout 2020, and although not as busy as the pandemic days, there will always be an appetite for the laid-back lifestyle.

“We do see a lot of people looking at year-round places, [which] are more important to them. [A place] that they can live at, versus just being able to go away for a few days at a time,” says McInnis.

If you’re looking to make your first home purchase in cottage country, McInnis lays down a few crucial facts you’ll need to know before you buy. 

Looking out window at winter scene
Image via Unsplash

Consider property access and distance to amenities

Whether you’re eying a cottage by the lake or one that’s nestled in the forest, there are many unique settings to consider when buying a rural property. Your cottage’s location can greatly impact your lifestyle, especially if you decide to live there year-round.

One of the first things you’ll likely need to determine when buying a cottage property is how you’ll be able to access the home. If you plan to live at your cottage year-round, McInnis says you’ll want to ensure the roads to get to and from your residence are well maintained and accessible, especially during the winter. 

How remote your cottage is will also play a role in your purchase. McInnis says the recent surge of all-season cottage buyers don’t want to feel too isolated, and want to be fairly close to neighbours in case there’s an emergency.

cottage on the lake
Image via James Bombales

McInnis explains you’ll also want to consider proximity to basic amenities, such as grocery stores, pharmacies, and hospitals. Most cottage buyers prefer to be within 30 minutes of a small town where these services are available, he says, and up to three hours from a major urban centre. 

“They want to stay three hours or under away from the city, even if they are moving out or semi-permanently moving out,” says McInnis. “They still want to have access to the city for jobs or be able to go in and do whatever [they need to], so they don’t want to be too, too far away.”

Learn about rural infrastructure and home winterization

Unlike a city or suburban home, cottage properties don’t always share municipal services. Instead, cottage dwellers will have to get familiar with the rural infrastructure needed to independently manage their home’s water, heating and sanitation utilities. 

McInnis says buyers will have to be aware of the types of systems their home uses. Some properties feature dug or drilled wells, and source water from nearby rivers and lakes. Make note of how the home processes sewage, like through a septic tank, which is stored on-site and underground. You’ll also need to learn about how you can dispose of your garbage, whether a regular pick-up service is available or if you’ll be required to drive to the local dump. 

kitchen faucet
Image via Pexels

If your plan is to live at the cottage all-year round, it’s vital your home is properly winterized and can withstand the cold. McInnis says to check the home is well insulated in the walls, pipes and roof, and to make sure the heating source is efficient for the size of the property. Be sure the cottage can also supply water in the freezing months with the help of a defrost line into the well or a heat trace that will keep the pipes from freezing.

cottage in winter
Image via Unsplash

It’s not uncommon to get zero service bars in rural areas either—be sure to confirm you can receive reliable mobile phone and internet service at the cottage, especially if you’re working remotely.    

“Cell and internet service are obviously very important, especially for people that are doing a lot of work from home,” says McInnis. “There are some areas of cottage country that have pretty good service. There’s other areas that don’t.”

Calculate cottage insurance and upkeep costs

Just like any home, cottages come with a range of maintenance costs, though some of these expenses are unique to rural areas. 

McInnis says you’ll want to factor in long-term upkeep expenses, like keeping the driveway in good condition so it’s easily accessible. Your property may be on a septic system, which will require pumping every three to five years depending on its size and usage, which also contributes to maintenance costs. When looking at a cottage property, McInnis recommends examining the health of any trees and their orientation towards the house—cutting down sickly shrubs can get expensive. 

“Danger trees can cost thousands of dollars to take down, so if you’ve got a number of those that you’ve got to take down in the next few years, that can really add to the cost of your purchase,” explains McInnis.

man with chainsaw cutting log
Image via Pexels

When it comes to financing your property, there are a number of factors that will contribute to your insurance rates, such as your distance from local fire stations, if your home is elevated from nearby water, and even how often the home is occupied. 

The mortgage lending process will also look a bit different from what’s involved for your typical city or suburban home. If your home meets the standards to be a primary residence, McInnis explains you may be able to put down a 5%t mortgage deposit, though some lenders could request 25% in some cases. Hence, it’s crucial to understand the different implications for each cottage mortgage provider. 

“There’s a lot of things to think about, which is probably why it’s good to have a professional real estate agent looking out for you so they can go over all of those things with you,” says McInnis.  

Enlisting the help of a local REALTOR® when buying a cottage ensures you can get the most up-to-date advice on transitioning to rural living.

Connect with the best REALTOR® for your needs at REALTOR.ca, where you can find thousands of agents that specialize in Canada’s many cottage communities. 

Insurance Is an Important Part of Finding the Right Property. REALTOR.ca and TD Insurance Are Making It Easier.

In collaboration with:
TD-Insurance

Finding the right property is a big milestone. Whether you’re buying your first home, renting a new apartment or investing in commercial real estate, there are plenty of decisions to make along the way.

While REALTORS® help Canadians navigate the property search and make informed real estate decisions, home or tenant insurance is another important piece of the puzzle that’s often considered later in the process.

That’s why REALTOR.ca is collaborating with TD Insurance to make it easier for Canadians to explore insurance options that are relevant to the type of property they’re viewing.

As part of this collaboration, users can seamlessly access TD Insurance resources from eligible REALTOR.ca listings to explore coverage options or request a quote.

It’s another step in REALTOR.ca’s commitment to supporting Canadians with helpful resources throughout their property journey.

Why think about insurance before you need it?

Many people don’t start thinking about insurance until they’re close to closing on a home or signing a lease.

But understanding your options earlier can help you feel more prepared and avoid last-minute decisions. Whether you’re buying, renting or investing, having the right information at the right time can make the process feel a little less overwhelming.

Because every property is different, insurance needs can be different too.

Buying a home? Learn about home insurance.

For many Canadians, buying a home is one of life’s biggest investments. Home insurance can help protect your property, your belongings and your financial future, depending on the coverage you choose.

As you explore homes on REALTOR.ca, you can also learn more about home insurance through TD Insurance and explore coverage options that fit your needs.

Explore Home Insurance

Renting? Tenant insurance is worth considering.

Even if you don’t own the property, your belongings still matter, and you still require liability coverage in case you are responsible for damages to others.

Tenant insurance can help protect your personal belongings and will provide you liability coverage. While a landlord’s insurance typically covers the building itself, you will need insurance protection to cover your belongings, and to cover damage to others you may be responsible for. Even if your landlord has insurance, you may have to pay for damages you are liable for such as if you overflow the sink or start a kitchen fire.

If you’re searching for your next rental, you’ll find the option to learn more about tenant insurance directly from eligible rental listings on REALTOR.ca.

Explore Tenant Insurance

Looking at commercial property?

Commercial properties often come with unique insurance considerations depending on your business, building and operations.

Whether you’re opening a new storefront, expanding your office space or purchasing an investment property, understanding your insurance options early can help you prepare for what’s ahead.

When you’re ready to take the next step, commercial listings on REALTOR.ca make it easy to explore commercial insurance options through TD Insurance.

Explore Commercial Insurance

How to explore insurance options on REALTOR.ca

When browsing eligible property listings on REALTOR.ca, you’ll see insurance options that are relevant to the type of property you’re viewing.

For example:

  • Residential listings will feature home insurance information.
  • Rental listings will feature tenant insurance information.
  • Commercial listings will feature commercial insurance information.

Clicking the insurance link will take you to TD Insurance’s website, where you can explore coverage options, learn more about the insurance that’s right for your property and request a quote if you’re ready.

Supporting Canadians beyond the property search

At REALTOR.ca, we’re always looking for ways to make the property journey a little easier.

This collaboration with TD Insurance helps connect Canadians with insurance information that’s relevant to the property they’re exploring, making it easier to prepare for what’s next.

Because finding the right property is only part of the journey. Feeling prepared for what comes next matters too.

 

Aspects à considérer avant d’acheter une maison avec piscine

À l’heure où le mercure estival ne cesse de grimper et où les canicules record se multiplient aux quatre coins du pays, l’idée d’avoir une belle grande piscine dans sa cour devient particulièrement alléchante.

Si vous envisagez d’acheter une maison avec piscine pour pouvoir profiter d’une oasis privée lors des journées chaudes, réfléchissez tout de même à quelques éléments avant de plonger.

Cet article a été initialement publié le 23 juillet 2023 et a été mis à jour pour garantir que les informations restent exactes et pertinentes.

Le style de vie de votre famille 

En tout premier lieu, demandez-vous ceci : « Est-ce qu’avoir une piscine cadre avec mon mode de vie? »

Si vous avez tendance à partir longtemps en vacances l’été ou que vous passez vos soirées et vos fins de semaine aux entraînements de balle molle de vos enfants, votre utilisation d’une piscine ne justifierait peut-être pas le temps et l’argent que vous devrez y consacrer. Par contre, si votre famille ne demande pas mieux que de se détendre dans la cour pendant la saison chaude, une piscine pourrait être un choix tout indiqué.

« Être propriétaire d’une maison avec piscine présente des avantages non négligeables », estime Jane Hoffman, présidente de l’agence Unison Jane Hoffman Realty et agente immobilière à Kelowna, en Colombie-Britannique. « La piscine est l’endroit parfait pour s’amuser et passer du temps en famille. Si vous aimez vous baigner et profiter de l’extérieur, une piscine peut améliorer considérablement votre qualité de vie. C’est aussi une merveilleuse option pour créer une belle ambiance dans votre cour, et c’est parfait pour recevoir. »

Quelle taille? Quel type? Quel style?

L’étape suivante consiste à déterminer si la piscine actuelle convient à votre famille.

Par exemple, la piscine est-elle assez grande pour permettre à votre famille et vos amis de s’y baigner? A-t-elle la forme que vous souhaitez? Est-elle située dans la bonne partie de la cour? Ou encore, la piscine est-elle équipée d’un système traditionnel au chlore, et vous préférez une piscine à l’eau salée pour un entretien plus facile et moins de produits chimiques nocifs?

Dans la plupart des cas, il est plus coûteux de remplacer une piscine que d’en faire construire une nouvelle. Ainsi, si la piscine de la maison que vous envisagez d’acheter n’est pas assez grande, n’est pas le type de piscine que vous cherchez, ou n’a pas les caractéristiques désirées, il pourrait être plus judicieux d’acheter une maison sans piscine puis d’en faire installer une, ou simplement de continuer vos recherches.

« Acheter une maison qui a déjà une piscine, c’est s’éviter tout le tracas des demandes de permis, des travaux et des dépenses [initiales] », explique Chris O’Donnell, directrice du marketing et de l’expansion des affaires chez Pool Craft, une entreprise d’installation, de rénovation et d’entretien de piscines située à Richmond Hill, en Ontario.

« Par contre, ça ne permet pas de personnaliser l’espace à son goût, poursuit-elle. L’installation à partir de zéro permet de contrôler l’ensemble de la conception et de choisir soi-même toutes les caractéristiques. »

Dans quel état est la piscine?

Renseignez-vous le plus possible sur l’historique de la piscine. Est-elle en bon état? Comporte-t-elle des fissures ou d’autres problèmes qui nécessiteront des réparations majeures d’ici deux, cinq ou dix ans? Combien d’années pourriez-vous encore la garder?

Si la piscine est hors terre, son état et sa longévité ne sont peut-être pas aussi importants, car il est généralement beaucoup plus facile de retirer, de réparer ou de remplacer une piscine hors terre qu’une piscine creusée. Toutefois, si la piscine est creusée, et donc un élément permanent de la propriété, il est certainement préférable de se donner un peu plus de temps pour savoir exactement dans quel état elle se trouve, avant de prendre des décisions définitives.

Mme O’Donnell explique que certains problèmes, comme la rouille ou des dommages sous la toile, peuvent également être difficiles à reconnaître pour une personne non experte. Si vous avez des doutes sur l’état de la piscine, mieux vaut obtenir un avis professionnel pour en avoir le cœur net. 

« Si vous avez la possibilité de faire inspecter la piscine par un professionnel avant de faire une offre sur la maison, cela peut valoir la peine, suggère-t-elle. Un technicien viendra examiner le système de recirculation et vous informera de l’état réel de la situation. »

L’inspection de la piscine ne fait pas partie de l’inspection de la maison; ce sont deux expertises distinctes. En fait, ne vous étonnez pas si la personne qui inspecte votre maison ajoute un avis de non-responsabilité pour les défauts éventuels de la piscine.

Si vous envisagez d’acheter une maison avec piscine, voici quelques questions à poser avant de faire appel à un inspecteur de piscine :

  • La garantie du constructeur de la piscine est-elle toujours en vigueur? Si oui, pour combien de temps encore?
  • Les propriétaires actuels peuvent-ils fournir une facture de la consommation d’eau de l’été précédent?
  • À quelle fréquence les travaux d’entretien du filtre ont-ils été effectués?
  • Quel système d’assainissement est utilisé, quand a-t-il été installé et présente-t-il des problèmes?
  • À quelle fréquence les travaux de maintenance et d’entretien ont-ils été effectués pour toute la piscine?
  • La piscine est-elle équipée d’un système de chauffage, et si oui, est-ce qu’il fonctionne correctement?
  • La pompe, ainsi que la minuterie, fonctionnent-elles correctement?
  • Quel est l’âge de la piscine?
  • Des problèmes de moisissures ou d’autres substances sont-ils survenus dans le passé?
  • Des fissures dans la piscine ou des dégradations de la paroi se sont-elles déjà produites?

Le coût de possession d’une piscine

Malheureusement, le plaisir et la liberté qu’offre une piscine ont un prix.

Pour le nettoyage, l’entretien et les réparations, les coûts associés à l’ouverture et à la fermeture de la piscine chaque année, la hausse inévitable des primes d’assurance habitation et tout le matériel et les accessoires nécessaires, il faut prévoir entre quelques centaines et plusieurs milliers de dollars annuellement.

« Les frais d’utilisation d’une piscine dépendent de divers facteurs, explique Mme O’Donnell. On parle d’une fourchette allant de 1 000 $ à 8 000 $ annuellement. De l’équipement écoénergétique vous permettra d’aller chercher des économies, et si vous faites attention à l’état de l’eau, vous vous éviterez des dépenses non nécessaires. L’utilisation que vous faites de votre piscine, sa taille, l’équipement et la formule choisie pour l’entretien – le faire vous-même ou faire appel à des professionnels – peuvent aussi faire augmenter la facture. »

Les coûts mensuels peuvent aussi varier considérablement en fonction du type de système d’assainissement choisi pour la piscine. Si les piscines d’eau salée coûtent généralement plus cher à l’installation, par exemple, elles sont aussi beaucoup moins chères et plus faciles à nettoyer et à entretenir qu’une piscine au chlore.

La bonne nouvelle, c’est que, bien que les tendances du marché fluctuent et que certains acheteurs ne souhaitent pas en avoir une, une piscine peut quand même augmenter l’attrait extérieur d’une maison et sa valeur de revente. C’est particulièrement vrai dans les régions où l’été est chaud et long.

« Dans les climats plus chauds comme celui de la région de l’Okanagan, en Colombie-Britannique, les piscines sont très recherchées, indique Mme Hoffman. Les propriétés affichées à 1,5 million de dollars et plus ont souvent une piscine, ce qui augmente leur attractivité et leur valeur. Dès qu’on atteint les deux à trois millions, la piscine est pratiquement un impératif. »

Le temps, c’est de l’argent

L’autre grand facteur à prendre en considération, c’est le temps qu’on passera à entretenir la piscine plutôt qu’à en profiter.

« La situation peut varier considérablement. Il faut savoir si vous vous occuperez vous-même du nettoyage et de l’entretien, ou si vous engagerez une entreprise spécialisée dans l’entretien des piscines pour le faire à votre place », souligne Mme O’Donnell. Mais en moyenne, la plupart des propriétaires peuvent s’attendre à devoir y consacrer entre quelques heures par mois et plusieurs heures par semaine, selon la taille, l’état et les caractéristiques de la piscine.

Chaque semaine, vous aurez notamment à :

  • retirer la saleté et les débris;
  • nettoyer l’écumoire;
  • frotter l’intérieur de la piscine pour prévenir l’accumulation d’algues;
  • passer l’aspirateur pour nettoyer tout ce que le filtre laisse passer;
  • analyser l’eau pour voir si des produits chimiques sont nécessaires et si le pH est adéquat.

La sécurité avant tout

Bien sûr, qui dit piscine, dit sécurité d’abord. En tant que propriétaire, vous en êtes automatiquement responsable si un accident a lieu dans votre piscine ou autour d’elle. Il est donc de votre devoir de tout faire pour que cela ne se produise pas.

« Si vous avez des enfants ou des animaux, une bâche de piscine automatique est indispensable, dit Mme Hoffman. Un système à manivelle peut également être une solution efficace (et moins coûteuse). Sachez toutefois qu’il faut généralement deux personnes pour faire fonctionner ce système en toute sécurité, et que de nombreux propriétaires n’aiment pas l’idée de devoir poser et retirer manuellement la bâche à chaque utilisation de la piscine.

« Habituellement, les piscines doivent aussi se trouver dans une cour entièrement clôturées », ajoute Mme Hoffman. Si les règlements varient d’une province, d’une municipalité ou même d’un quartier à l’autre, il est toujours préférable de faire installer une clôture autour de votre piscine. De plus, dans de nombreuses administrations, il est obligatoire d’entourer entièrement les piscines creusées et même la plupart des piscines hors terre, afin de réduire les risques d’accident.

Alarmes, capteurs de mouvements, caméras : voilà tout autant de façons d’assurer la sécurité des gens qui se trouvent dans la piscine ou près de cette dernière. Les règles, exigences et interdictions varient d’une province et d’une municipalité à l’autre. Vérifiez celles qui s’appliquent où vous habitez, ou demandez l’aide de votre courtier ou agent immobilier.

En ce qui concerne l’entretien, savoir discerner ce qu’on peut faire soi-même et ce qui demande une expertise est aussi une façon d’assurer la sécurité.

« Si on s’y connaît un peu, l’ouverture, la fermeture, l’entretien hebdomadaire et l’analyse de l’eau sont toutes des tâches qu’on peut faire soi-même, estime Mme O’Donnell. En revanche, pour la détection des fuites, le remplacement de l’équipement ou de la toile et les réparations en général, il est préférable de faire appel à des professionnels. »

Affinez vos recherches grâce à REALTOR.ca

Si vous choisissez d’acheter une propriété avec piscine, tirez parti des filtres de REALTOR.ca pour affiner vos recherches. Au premier trimestre de 2024, le mot-clé « pool » (piscine) arrivait au troisième rang des mots le plus souvent indiqués dans le champ de recherche à la section Filtres du site 

Quelle que soit votre décision, demandez conseil à votre courtier ou agent immobilier. Cette personne vous aidera à explorer vos options, à évaluer les avantages et les inconvénients et ultimement, à faire le meilleur choix pour votre famille.

Certains des hyperliens contenus dans ce billet mènent vers des pages Web ou des articles en anglais seulement. Ils sont inclus à titre de supplément d’information.

What to Expect in the First 30, 60, and 90 Days of Homeownership

You have the keys to your new home in hand, the movers have left, and you’re officially a homeowner. Welcome to the homeownership life! So what’s next?

“This is such an exciting time,” says Victoria Bomben, salesperson and REALTOR® with Property.ca Brokerage in Mississauga, Ontario. “Setting things up, figuring out where your furniture should go, really starting to make it yours.” 

This article was originally published Feb. 20, 2025, and has been edited to ensure the information remains accurate and relevant.

While it’s certainly exciting, it can also be stressful. 

“Buying a home is a big financial and emotional decision,” says Dimitri Andrianakos, REALTOR® and broker at Royal LePage du Quartier in Montreal, Quebec. “It’s normal to feel a little overwhelmed. Focus on the big picture, and remember why you decided to make the move in the first place.” 

According to Victoria and Dimitri, here are some of the things you can expect over the first 30, 60, 90 days and beyond.

What to expect in the first 30 days of homeownership

Remember: your REALTOR® is there for you after closing

Your REALTOR® can be a great resource as you navigate your first few months of homeownership. They typically have great connections and recommendations, and are there if you have any questions, or even just to use as a sounding board for ideas. 

“I give all my clients a neighbourhood guide to help them get to know the area and find a good grocery store, dry cleaner, a mechanic, that sort of thing,” says Bomben. “I check in to see if they need help with anything or they have questions—and I’m always happy to connect them with trusted decorators, contractors, and painters.” 

Start paying your mortgage

“Your first mortgage payment date is set by your lender after closing,” says Andrianakos. “Depending on your payment schedule—monthly, biweekly, or weekly—it could be just a couple of weeks after you take possession or about a month later.”

If your mortgage doesn’t start exactly on a scheduled payment date, you may also have to pay interest for the period between closing and your first regular payment. Ask your lender what your first payment will be and when it’s due so there aren’t any surprises.

Make sure your mortgage payment has been factored into your monthly budget, and don’t be surprised if the first one is lower than you were expecting. 

Discover your new neighbourhood

The first 30 days in a new home is all about exploring your new neighbourhood and figuring things out—finding a good coffee shop, figuring out the best way to get to work, understanding local traffic patterns, etc. It’s always a good idea to explore a potential new neighbourhood before moving in, but you won’t truly discover what it has to offer until you’re living in it every day. 

You’ll start noticing repairs that are needed

After you’ve started unpacking and placing furniture and getting used to the space, the stuff that maybe didn’t register during viewings—a dented baseboard or the not-so-great water pressure—will probably start getting your attention.

Maia Thomas bought her first home in August 2023 and said there were some things she didn’t notice in the excitement when viewing her condo, but it wasn’t anything that would have stopped her from buying the home. 

“One of the bathroom tiles was cracked, the paint job wasn’t great—and the kitchen floor is really cold in the winter,” she says. “Once I had lived in the space for a while, those issues became more obvious.”

There may also be things like morning traffic on your road, or a delightful surprise of an abundance of sun in the afternoon that you may not have noticed during your walkthrough time. None of these elements mean you made a mistake buying your home, it just means some adjustments or minor repairs will be on the docket for the coming weeks!

Expect the unexpected—especially when it comes to expenses 

Maybe your current furniture isn’t quite right for the space, or you realize you need more of it. Or you may want to switch out builder-grade lighting in your new build for something a little nicer. This is why having more than just your down payment saved is important: as you realize what you’re missing, you’ll likely spend more than you anticipated. 

You’ll get to know your community’s ‘rules’

Whether it’s your condo board’s regulations or your local garbage pickup, the first 30 days are a learning time. Give yourself some grace: you might miss recycling day or have to ask someone how to book the condo’s party room. Starting a homeowner’s journal with important dates, information, and contacts is a great idea so you can easily reference things in the future! 

What to expect in the first 60 days of homeownership

It’s been a couple of months, and you’re starting to feel a little more settled in, getting to know the neighbourhood, figuring out where the good parks are for the kids, what store has the best rotisserie chicken, and where you like to pick up your morning coffee.

You’ll start paying bills

This is when your first home-related bills will start coming in, giving you a good sense of what you should be budgeting for your utilities each month. This is a good time to sit down with your budget and make sure there aren’t any surprises and adjust things as needed. It’s also a good time to look into automated payments now that you know what the amounts will be. Some utilities and service providers offer small discounts to customers who set up pre-authorized payments. 

Meeting the neighbours

You may have met the neighbours briefly as you made frantic trips to-and-from the moving truck, or maybe in the hallway as you went to grab the mail from the lobby. But a couple months in, you’ll hopefully start to feel more integrated into the community, says Bomben.  

“If you’ve got kids, you’ve probably connected with other parents, and are feeling more like you’re part of something,” she explains. 

It’s also possible you’re no longer the “new kids on the block,” depending on how much the area is growing! Consider making little welcome baskets for new neighbours, filled with gifts and information you wished you had when you moved in.

Noticing more things around your home

Whether it’s a furnace that’s acting up or realizing you have chipmunks living in your attic, things might not be quite perfect—but that’s where your REALTOR® can help.

“My REALTOR® checked in with me regularly in those first few months,” says Thomas. “I actually had an issue with the clothes dryer a couple of months in, and he was on top of it right away.”  

What to expect in the first 90 days of homeownership

You’ll probably be feeling a bit more settled after three months, but don’t put too much pressure on yourself if there are still boxes to unpack, rooms to paint, or you haven’t found a grocery store you love just yet. Don’t worry. It takes time to explore and experiment, figure out what looks good and what doesn’t, and really get to know people and the neighbourhood. It might take a little longer than you expect.

“I thought by three months, my condo would feel lived in and more like home,” says Thomas. “But that wasn’t the case. At that point, I was still taking stuff out of boxes. I hired a couple of guys to come help me with some repairs, and they said sometimes it can take up to two years to fully settle in!”

Additional changes

While some people like to make decor updates and do repairs as soon as they take possession, it’s common to wait until you feel a bit more settled in before you start changing things up. After you’ve lived in the space for a while, you may decide the way you’ve arranged your furniture isn’t quite right, or you’ve finally picked a colour you love for the bedroom after getting used to the way light hits the walls at all times of day. 

“After 90 days, you’ve gotten more familiar with the home and have had time to understand what works and what doesn’t,” says Bomben. “Sometimes small things can make a really big difference. A dark faucet is a simple and relatively inexpensive way to change up the look of a bathroom, and a rain shower head can make things feel a lot more luxurious.”

Other ideas: painting dated cabinets can make a kitchen feel fresh, a new area rug can change the look of a room, and swapping out your big three-seater sofa with two love seats can help a small living area feel more spacious. And if you’ve been waiting to feel settled in to start tackling bigger jobs like a new deck or taking out a wall, this is a good time to start talking to a contractor.

Your new home’s seasonal maintenance

As the seasons change, you might figure out you need a snowblower for your driveway, realize you need to fix the air conditioning, or put down a rug on a floor that’s extra cold in the winter. Plus, you’ll need to do seasonal maintenance like cleaning gutters, raking leaves, or maintaining a garden. 

Buying a new home is a big step and the start of an exciting journey. From the excitement of moving in to the gradual process of settling in and discovering your home’s nuances and quirks, each stage brings its own challenges and rewards. Meeting your neighbours, painting your kitchen, buying your first snow shovel, understanding your expenses…it’s all part of making your house or condo feel like home. Take your time, celebrate small wins, and lean on your REALTOR® for guidance.

You may also be interested in reading…

Does the ‘Perfect Time’ to Buy a Home Exist? Majority of Canadians Think Not: RBC Poll

It’s one of the questions REALTORS® get asked the most: when is the right time to buy a home?

Of course, there’s no one-size-fits-all answer. It really comes down to how financially prepared you are to buy a home (there’s a Living Room article for that!), but if we’re going off sentiment as a whole here, a recent poll shows most Canadians don’t believe such a moment exists.

According to the latest RBC Home Ownership Poll, 64% of Canadians agree you can never really know when the right time is to buy a home, with those living in British Columbia feeling the pressure the most at 70%. From there, the list goes Manitoba/Saskatchewan (67%), Ontario and Atlantic Canada (64%), Alberta (63%), and Quebec (61%).

“Rising costs and shifting economic conditions have made every step of the homebuying journey feel higher-stakes, and the pressure of whether to act is weighing on Canadians.”

— Janet Boyle, Senior Vice-President of Home Equity Finance, RBC.

According to the recent survey, RBC says four trends emerged that captured how Canadians and prospective buyers are feeling about real estate these days.

Trend No. 1:

Canadians are divided on real estate markets and whether it’s a good time to buy

Nationally, 27% of respondents said they feel they are currently experiencing a buyers’ market, while 36% say it’s a sellers’ market. However, of those looking to buy within the next two years, 45% say right now is a good time to buy, with about half of those prospective buyers saying they expect prices to rise again soon and for interest rates to go up.

Trend No. 2:

Economic uncertainty is weighing heavy on the minds of those looking to buy a home

Sure, this data shows potential buyers see it as a historically good time to buy, but a majority of those polled are having their confidence clouded by the following factors:

  • 75% say economic uncertainty is making them more cautious about buying a home;
  • 72% say they believe buying home is the biggest challenge ahead of them; and
  • 67% say they are worried external economic factors are impacting their home buying plans.

“Many of my clients want to buy a home, but economic uncertainty is making it harder to feel confident about timing. I help clients understand their options and separate what they can control from what they can’t. Sometimes that conversation confirms they’re ready to make a move, and other times it means building a plan to get there.”

— Brad Evjen, Senior Mortgage Specialist, RBC.

Trend No. 3:

More Canadians are making tough financial choices in order to buy a home

The continued rise in cost of living is making it harder for future homeowners to get ahead. Among Canadians planning to buy a home within the next two years, 71% say inflation is forcing them to save less toward their home-buying goals.

Here are some trade-offs Canadians have admitted to making in order to keep their expenses low and save more money for a home:

  • 69% of Canadians are delaying major purchases (up from 64% in January);
  • 62% are postponing or scaling back their vacations (up from 55% in January);
  • 60% are completely overhauling their spending and saving habits (up from 55% in January); and
  • 53% are putting some of their retirement saving toward buying a home (up from 49% in January).

The poll shows 78% of respondents believe homeownership requires more sacrifices today than previous generations, and 74% say most buyers will experience some level of financial shock when they purchase their first home.

Trend No. 4:

Many Canadians don’t feel they have the information they need to buy a home or renew their mortgage

Among those intending to buy a home within the next two years, fewer than half (49%) feel confident making homebuying decisions in today’s market, and only a slim majority (56%) say they have the information they need. The poll shows an overwhelming majority (82%) agree expert advice is essential when navigating major homeownership decisions.

Boyle suggests a good place to start is getting the answers to these three questions:

🏡 How do I know when it’s the right time to buy a home in today’s market?

As we stated above, this is personal to your financial situation. Start by understanding what you can afford, creating a savings plan and thinking about how homeownership fits into your long-term goals. A mortgage pre-approval can clarify your borrowing power and help you act quickly when the right home comes along.

📈 How do rising interest rates and home prices affect my decision to buy?

Rising rates increase borrowing costs, which can affect how much you qualify for and what you’ll pay each month. Higher home prices mean a larger down payment and mortgage, but market conditions are just one part of the equation. Your income, savings and long-term goals matter just as much.

🤝 How do I find the right home buying and mortgage advice for my situation?

Start with a conversation with a trusted financial partner. Remember, mortgage specialists work with you one-on-one to understand your goals and your finances, build a plan, and recommend mortgage solutions that work for you.

Looking for more advice on how to navigate your homebuying journey?

Is Your Home Ready to Sell? A Comprehensive Checklist

OK, so you’ve made the decision to sell your home—congrats! You’re about to embark on an exciting journey, one that will surely lead to lasting memories. But before you can get going, you’ll need to get your home prepared for prospective buyers. 

Getting your home ready to sell can take some work, but it’s worth it to help maximize your opportunity for the best offers possible. 

We spoke with REALTORS® to get their advice on what to do around your home to prepare it for walkthroughs and open houses.

This article was originally published Aug. 11, 2023, and has been edited to ensure the information remains accurate and relevant.

Less is more when getting your home ready to sell

Nicolas Anania, salesperson and REALTOR® with Royal LePage Prime Real Estate in Winnipeg, Manitoba, tells us decluttering as much as possible during the process of selling your home is crucial when trying to appeal to buyers. 

“Sell it, toss it, donate it,” he shares. “If you haven’t used it in the last six months, it’s got to go. Buyers believe the way they view the home is how they’re going to live in it, so make sure it’s looking as ready as possible!”  

Yashna Hathi, salesperson and REALTOR® with Royal LePage Atlantic in Fredericton, New Brunswick, echoes Anania’s advice on decluttering, but says it’s important to not get overwhelmed by the process. 

“It’s easy to go down a rabbit hole of downsizing and decluttering when you’re looking to list,” she tells us. “Your closets and garage do not have to be perfect. Focus on your main living areas and ensure those spaces look fresh and bright.”

Consult your realtor regarding essential renovations

Remember: renovations aren’t mandatory when preparing your home to sell

Before you go and spend thousands of dollars on updating your kitchen or bathroom for purely aesthetic reasons when trying to sell your home, check in with your REALTOR® to see if that’s necessary. Anania says “everyone thinks you need a new kitchen or bathroom to sell a home and that’s not the case.” 

He goes on to tell us, “I have many buyers who love a house that hasn’t been updated as long as it’s been cared for and clean. A clean home goes a long way!” 

Your REALTOR® will be able to tell you about certain renovations that can increase your home’s value to help absorb the cost of your investment. 

 

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Want to download a PDF of this checklist? Click here.

What to do in the kitchen before listing your home

Even though you may not have to fully renovate your kitchen before selling, you still should make sure it’s in tip-top shape for any walkthroughs or open houses. Keeping the space bright, clean, and organized is crucial.

“To get your kitchen ready for selling, clear all surfaces—for photos and showings you want the countertops to be clutter free,” Hathi shares. “Having everything put away shows potential buyers you have enough storage for all of your kitchen appliances and knick knacks.” 

“No one likes cooking or baking in the chaos of a dirty, unorganized kitchen,” says Anania. “You’ll have buyers open cupboards to check to see how much storage is available, so try to make sure what they find isn’t off putting. Ensure there are no cooking odours from the day before, and that garbages and recycling bins are empty.”

Ask yourself these questions about the kitchen:

  • Refrigerator spotless inside and out? 
  • Is it organized? Spoiled food discarded? 
  • Frost removed in the freezer? Light bulbs working? (Buyers look!) 
  • Oven and  stove top clean? Burner trays cleaned? 
  • Sinks clean? Faucets working properly and leak-free?
  • Garbage disposal in good working condition? 
  • Dishwasher clean and stain-free?  

Ensuring clean and inviting bathrooms

Is your bathroom ready for prospective home buyers to see?

“Similar to kitchens, it’s essential for bathrooms to look and smell clean,” Anania explains. “Shelves should be organized and highlight the amount of space that’s available. New towels should be put out and garbage bins emptied. Make the buyers feel welcome with a scented candle or plug in, but make sure it’s not too strong—that can be off putting as well. ” 

“The main thing is getting the clutter off the counters just like your kitchen,” Hathi adds.

Ask yourself these questions about the bathroom:

  • Fresh soap on display?
  • Sinks spotlessly clean, faucets working properly?
  • Tub and shower surfaces clean? 
  • Towels stain-free and hanging neatly?
  • Shower curtains clean and in good repair? 
  • Toilet extra clean and working properly? 
  • Medicine cabinet cleaned out? 

Creating Welcoming Spaces: Minimizing Personal Items for Potential Buyers

Preparing your living room, dining room, and bedrooms before your home hits the market

Your living areas—including living rooms, dens, dining rooms, studies, and bedrooms—need to be inviting to potential buyers, and not overloaded with personal items that detract from the space itself. Hathi says sometimes that means finding inexpensive items to replace what you currently have.

“Staging the furniture to use the space efficiently is key as well,” she tells us. “Think of how photos would look.”

For bedrooms, Anania says they “need to feel comfortable and relaxing, not chaotic.”

“It’s best to put away most of the family photos, jewelry boxes, etc.—anything that sits on top of a night table or dresser,” he explains. “And, the bed must be made. All of this is an effort to show the person who owns the home is really looking after it and they are on top of things. This impression is carried through to all other aspects of the home, like cleaning, maintenance, and overall care.”

Ask yourself these questions about the living room, dining room, and bedrooms:

  • Everything thoroughly vacuumed/dusted? 
  • Excess furniture removed?
  • Remaining furniture clean and in good repair? 
  • Wood and other surfaces clean and polished?
  • Bookshelves neat, organized and clutter-free?
  • Children’s games/toys stored neatly? 
  • Fragile items removed and stored? 
  • Smaller valuables removed/locked away? 
  • Window coverings open for views and sunlight?
  • Mirrors clean and in good repair? 
  • Fireplace clean, logs/kindling stacked neatly?

Maintaining a well-kept yard for a great first impression

What to do with your home’s yard before listing

Outside your home is also important when it comes to selling. Your front yard needs to make a great first impression, and any other yard space should make it easy for potential buyers to envision how relaxing it would be to enjoy. 

“Make sure no kids’ toys are left on the lawn and all landscaping lights are working,” says Anania. “Make sure your gate latches are working and functional. First impressions are everything and the exterior of the home is your first impression.”

“Cut your grass, maintain weeds, remove any debris from the yard,” Hathi continues. “You want people to be able to imagine throwing a ball in the yard and being able to use it in whatever way they may have in mind. You don’t want them to envision how much work they would have to put into it.”

Ask yourself these questions about the yard:

  • Driveways and sidewalks clear of snow and ice? 
  • Lawns freshly mowed/edged? 
  • Large bare spots repaired? 
  • Trees pruned, hedges trimmed? 
  • Flower beds weeded and tidy; dead plants replaced?
  • Junk and scrap removed? 
  • Lawn furniture clean, organized, and in good repair? 
  • Bicycles, children’s toys stored neatly?
  • Firewood organized and neatly stacked? 
  • Dog runs secure, yard free of “doggy deposits”?

Commonly overlooked aspects when listing your home

What people often overlook before putting their home up for sale

We asked Anania and Hathi some of the things people overlook when listing their home. 

“Cleaning your windows is a big one,” Anania shares. “Wiping down light switches and baseboards goes a long way, as well. When those things are clean it gives the buyer confidence that other, perhaps more important things, are taken care of.”  

“If you have dark bedding, consider replacing it with a lighter colour—it brightens the room and photographs so nicely,” Hathi explains. 

At the end of the day, your REALTOR® will help ensure your home is in the best shape possible before listing, but there are some things you can start doing in advance to help move the process along. Check out our full list of things to do before listing your home!

Renewing Your Mortgage? These Considerations Could Make a Real Difference

Many Canadian mortgage holders renew without asking any questions—often receiving a mortgage product that may not suit their current needs. After all, life may look different than it did when you first got your mortgage and your priorities may have shifted, too.

That’s why now could be the perfect time to take a step back and consider the following:

  • Will your new mortgage rate be higher than your current mortgage? If so, how will this affect your payments?
  • Has your financial situation changed since your last renewal?
  • Are you planning any home renovations, or will you need additional funds?
  • If you are planning to move, how will that affect the renewal terms you choose?
  • Do you prefer fixed or variable rates, or are you unsure?

 

Do yourself a favour, and don’t sign a renewal letter without doing your due diligence.   Along with understanding your financial situation, here’s what else you need to consider before renewing your mortgage. 

A couple discuss their options when considering to renew their mortgage.

Planning your mortgage renewal in advance can pay off

If you renew your mortgage early, you’ll be able to lock in at current interest rates sooner, which can protect you against future potential rate fluctuations.

Today’s economic environment is uncertain. Forecasting what comes next is challenging, given disruption in trade, sticky inflation and geopolitical tensions. This makes future interest rate movements difficult to predict, but one thing experts seem to agree on is this: Canada is not likely to see rates like those of 2020 and 2021 anytime soon.

It’s worth noting, too, that even if the Bank of Canada overnight rate falls, it doesn’t mean that fixed mortgage rates will also go down. This is because fixed mortgage rates don’t always mirror Bank of Canada changes – rather, they are influenced by bond yields and lender expectations of where rates are headed in the future.

 
Curious as to what’s driving the latest Canadian mortgage trends? Check out this explainer article.

 

With the strain of ongoing changing economic conditions, locking in your mortgage renewal early may provide some peace of mind as you’ll know what your payments will be in the future. Taking some time to talk through your mortgage renewal options with a Mortgage Advisor now can help you make informed choices, rather than feeling rushed when your term comes to an end.

Do your research when renewing your mortgage

Leading up to your renewal date, it’s important to do your research on products, features, interest rates, and housing market trends.

It’s also recommended to shop around and investigate the different lenders available to you. The Financial Consumer Agency of Canada website is a great starting point when it comes to research, offering a wealth of up-to-date resources including answers to frequently asked questions about mortgage renewals. Your REALTOR® is another excellent resource to tap into for advice on what to consider when renewing your mortgage. 

“Renewal is also the right moment to look at your mortgage features,” says Erica Aceti, Mortgage Specialist at RBC. “Prepayment privileges, payment flexibility, amortization length. These levers can save you thousands over the life of your mortgage. A longer amortization frees up monthly cash flow; a shorter one gets you mortgage-free faster. It’s worth knowing what you have access to, and making sure it still fits where you are today.”

A family talks about what to do when considering to renew their mortgage.

Request a lower rate when it’s time to renew your mortgage

A simple yet often overlooked consideration when renewing your mortgage is to negotiate with your current lender for a lower interest rate. Despite what’s outlined in your renewal letter—which must be sent to you at least 21 days before your renewal date—you may qualify for a discount. You won’t know if you don’t ask!

When it comes to negotiating your renewal, competing offers can help you secure a better rate. You may also be able to negotiate a better rate by consolidating more products with your lender.

Consider this a fresh start in your homeownership journey

It’s likely a lot has changed in your life since your initial mortgage, or significant events have since occurred that have an effect on the marketplace. For example, you or your spouse may have switched careers, your children may no longer live at home, or interest rates may have changed due to outside factors. One helpful way to assess your current situation is by using a mortgage payment calculator and inputting the details that may have changed since your current mortgage.

Some mortgage features you may want to revisit at renewal include:

  • Mortgage refinancing: If you have non-mortgage debt, refinancing your mortgage at the time of renewal can let you consolidate that debt, helping to lower your borrowing costs and simplify repayments.
  • Extending your amortization: You may be eligible to extend your amortization, which can help relieve any cash flow pressure you may be experiencing.
  • Paying off your mortgage faster: If rates go down and you have room in your budget, this might be an opportunity to pay down your mortgage faster by accelerating your mortgage payments.
New homeowners talk about what to do about renewing their mortgage.

Look into potential savings opportunities

Lenders are constantly introducing new mortgage products and features, which means you might have access to potential savings. Based on your home’s current value, you may want to consider enrolling in products such as RBC’s Homeline Plan, which offers a great way to access the equity in your home, when needed.  

Are you considering building instead of buying? Here’s what you need to know about how to get a construction mortgage loan to build your dream home.
A mortgage broker discusses the pros and cons of renewing your mortgage.

You don’t have to renew your mortgage with the same lender

Once your mortgage term is up, you’re not required to remain with the original lender. If you’re offered a better rate or improved terms and conditions from a different bank or mortgage broker, you’re free to make the switch. Of course, you’ll need to reapply and supply all the paperwork required for a new application if you go this route. This means proving your income and having your credit checked, so it’s important to weigh your options carefully before making the decision to switch lenders.

It’s recommended to start exploring your options well in advance of your renewal date—if you wait until you receive the renewal letter from your lender, you may miss out on the best offer for your needs.

You can refinance your mortgage

You can save thousands of dollars at the time of your renewal if you’re considering refinancing and taking equity out of your home. When your mortgage term expires, you aren’t subject to early payment penalties, so if you’re thinking about taking advantage of investment opportunities, renovating your property, consolidating debt or paying for your child’s education, your renewal date is a good time to do so.

“A lot of clients don’t realize how much equity they’ve built up, or what they could do with it,” says Aceti. “Renewal is the ideal time to put that equity to work, whether that’s paying down other high interest debt, funding a renovation, or investing in the future. It’s important for clients to know their options.”

Don’t get intimidated by fees

If you do choose to switch lenders when renewing your mortgage, you may be subject to additional fees such as:

  • new lender set-up fees (i.e. the cost to discharge your previous mortgage and register the new one);
  • a transferal or reassignment fee from your current lender; or
  • if necessary, the cost of an appraisal fee to confirm your property’s current value.

Other fees to consider are mortgage loan insurance premiums and collateral charges on your initial mortgage. To avoid paying a premium twice, be sure to inform your new lender you currently hold mortgage loan insurance and provide them with your certificate number.

If you want to switch lenders and your mortgage includes collateral charges, you will likely have to pay a fee before registering your mortgage with a new lender. Removing the charge completely requires full repayment or transferring all loan agreements secured by the collateral charge—such as lines of credit or car loans—to the new lender.

Despite these additional fees, they are typically minimal when you compare them to how much you’ll save in interest long-term. RBC, for instance, makes switching easy and will take care of all the legwork related to switching, and cover up to $1,100 in switch fees.

Don’t be afraid to ask your new lender if they’re willing to include discharge fees into the new mortgage—they may even cover part or all the fees to earn your business, but you won’t know if you don’t ask.

Are you considering breaking your fixed-term mortgage contract? Here’s everything you need to know, including associated penalties as well as the advantages. 
A women is wondering what to consider when renewing your mortgage.

The key takeaway here: take control of your renewal. Remember, resting on your laurels can cost you thousands of dollars when it comes to renewing your mortgage. Don’t wait for your renewal letter and don’t let your lender automatically renew without doing your due diligence. Be proactive and take action months in advance of your renewal date.

Here are some additional resources to guide you through your mortgage renewal process:

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.

L’abordabilité : un facteur clé derrière le rebond des ventes immobilières en mai

Les ventes résidentielles au Canada ont bondi de 5,5 % en mai, une hausse que Shaun Cathcart, économiste principal à L’Association canadienne de l’immobilier (ACI), a qualifiée de « reprise positive ».

Les dernières données publiées mardi font suite à plusieurs mois de ventes inférieures à la normale et confirment l’idée selon laquelle, d’un point de vue historique, les prix, les taux d’intérêt et le ratio des ventes par rapport aux nouvelles inscriptions actuels sont plutôt favorables aux acheteurs canadiens.

« Bien qu’il s’agisse du premier mois de 2026 où l’on observe une dynamique haussière significative de la demande globale, les conditions sous-jacentes s’améliorent depuis un certain temps déjà, explique M. Cathcart dans le plus récent Rapport sur le marché de l’habitation de l’ACI (en anglais seulement). Les attentes des vendeurs et des acheteurs se rapprochent de plus en plus, comme en témoignent le resserrement du ratio prix d’inscription/prix de vente et la légère baisse du nombre de jours sur le marché. Par conséquent, les prix se sont largement stabilisés après un certain fléchissement en début d’année. »

Avant d’analyser ce qui se passe en coulisses, voici les chiffres nationaux à connaître pour comparer les données relatives aux ventes et aux prix avec celles de votre marché local :

  • Les ventes résidentielles nationales ont bondi de 5,5 % en mai par rapport à avril.
  • Le nombre de propriétés nouvellement inscrites a baissé légèrement de 1 % en mai comparativement à avril.
  • En mai 2026, le prix moyen réel (non désaisonnalisé) des propriétés vendues au pays a augmenté de 1,5 % d’une année à l’autre, atteignant 702 079 $.

Quels sont les facteurs à l’origine de la récente hausse des ventes résidentielles au Canada?

M. Cathcart indique que plusieurs facteurs ont contribué à cette hausse des ventes, mais le sentiment de plus en plus répandu parmi les Canadiens selon lequel les taux d’intérêt, les prix et la demande ont probablement atteint leur niveau le plus bas a suffi à motiver certains acheteurs à passer à l’action.

La menace d’une guerre prolongée au Moyen-Orient susceptible d’affecter l’économie canadienne a entraîné une hausse des rendements obligataires, ce qui a fait grimper les taux hypothécaires fixes de 30 à 40 points de base, pour atteindre un sommet en avril. En règle générale, la hausse des taux hypothécaires entraîne une baisse de la demande, mais M. Cathcart explique que cela a peut-être suffi à convaincre les Canadiens qui hésitaient encore que les conditions sont désormais favorables.

« Je pense que la légère hausse des taux (hypothécaires) a peut-être servi de signal d’alarme pour certaines de ces personnes qui attendaient le creux de la vague avant de se lancer », a-t-il expliqué lors du dernier Rapport sur le marché de l’habitation de l’ACI (vidéo ci-dessous, en anglais seulement).

Les propriétés ne se vendent pas aussi rapidement, contribuant à tempérer les attentes irréalistes

La Banque du Canada ayant déjà laissé entendre que la période des baisses rapides des taux d’intérêt était révolue, les acheteurs canadiens reviennent sur leurs marchés immobiliers locaux et constatent également que les propriétés ne se vendent plus aussi rapidement.

M. Cathcart souligne qu’il y a eu une forte augmentation du nombre de nouvelles inscriptions au début du mois d’avril, mais que cela ne s’est pas traduit par une hausse des ventes résidentielles à ce moment-là.

Les propriétés ne se vendent pas aussi rapidement, contribuant à tempérer les attentes irréalistes

La Banque du Canada ayant déjà laissé entendre que la période des baisses rapides des taux d’intérêt était révolue, les acheteurs canadiens reviennent sur leurs marchés immobiliers locaux et constatent également que les propriétés ne se vendent plus aussi rapidement.

M. Cathcart souligne qu’il y a eu une forte augmentation du nombre de nouvelles inscriptions au début du mois d’avril, mais que cela ne s’est pas traduit par une hausse des ventes résidentielles à ce moment-là.

« Il ne reste plus beaucoup de marchés au Canada où les propriétés se vendent en une semaine », a déclaré M. Cathcart, évoquant ainsi la frénésie des achats et des ventes qui a marqué l’année 2021.

Il a indiqué qu’actuellement, la durée médiane pour vendre une propriété s’établissait à 23 ou 24 jours, un chiffre plus raisonnable, ce qui contribuerait à expliquer la hausse des ventes enregistrée en mai.

Tous ces facteurs ont également contribué à tempérer les attentes en matière de prix. Les acheteurs et les vendeurs sont plus sur la même longueur d’onde qu’au cours des derniers mois. Les vendeurs fixent désormais des prix de vente plus réalistes, et les acheteurs se montrent un peu plus enthousiastes qu’en janvier.

« Le prix d’inscription d’une propriété et son prix de vente se rapprochent de plus en plus », a déclaré M. Cathcart.

Certaines régions du Canada continuent d’enregistrer une hausse de prix, alors même que les moyennes nationales se stabilisent

Si l’on examine les données d’une année à l’autre au niveau régional, les prix restent en baisse d’une année à l’autre en Colombie-Britannique, en Alberta et en Ontario, ce qui compense les hausses importantes enregistrées dans d’autres provinces telles que la Saskatchewan, le Québec et Terre-Neuve-et-Labrador.

« Si l’on considère que les prix des propriétés ont atteint leur niveau le plus bas, tout comme les taux d’intérêt qui risquent désormais d’augmenter – ils ne baisseront sûrement pas – ces deux facteurs combinés déterminent donc l’abordabilité », indique M. Cathcart, ajoutant qu’il envisage également un scénario selon lequel cette situation inciterait encore davantage d’acheteurs à se lancer sur le marché au cours du second semestre.

« À l’instar de la météo dans de nombreuses régions du Canada cette année, le marché printanier semble avoir pris environ un mois de retard, mais les chiffres de mai ne laissent guère de doute sur le fait que l’activité reprend désormais, a déclaré Garry Bhaura, président de l’ACI et agent immobilier à Brampton, en Ontario. La transition entre mai et juin est généralement la période la plus active de l’année; le marché se renforce donc actuellement au moment le plus occupé de l’année. Si vous avez hésité cette année, que ce soit en tant qu’acheteur ou vendeur, en attendant un signe, c’est peut-être le moment d’agir, et la première étape consiste à contacter un courtier ou agent immobilier de votre région. »

 

Canadian Home Sales Rebound in May As Sellers’ and Buyers’ Expectations Align More

Canadian home sales popped 5.5% in May, a move Canadian Real Estate Association (CREA) Senior Economist Shaun Cathcart said was a “good bounce.”

The latest data released Tuesday comes after months of slower-than-usual sales figures, and reinforces the notion that, historically, current price levels, interest rates and sales-to-new-listings ratio are actually favourable for Canadian home buyers.

“While it was just the first month in 2026 to see any meaningful upward momentum in headline demand, under the surface conditions have been improving for some time,” Cathcart says in the latest CREA monthly housing market report. “Sellers’ and buyers’ expectations are increasingly aligned, as evidenced by tightening sale-to-list price ratios and shorter periods between listing and sale dates. As a result, prices have largely stabilized following some softness earlier in the year.”

Before we get into analyzing what’s going on behind the scenes, here are the national numbers you need to know when comparing sales and price data to your local market:

  • National home sales jumped 5.5% in May compared to April.
  • The number of newly listed properties edged down 1% in May compared to April.
  • The actual (not seasonally adjusted) national average sale price was up 1.5% on a year-over-year basis in May 2026, hitting $702,079.

Home sales activity

What’s driving the recent rise in Canadian home sales?

Cathcart mentions there are a few factors that led to the jump in sales, but a growing sentiment among Canadians realizing this may be the bottom in terms of interest rates, prices and demand was enough motivation for some potential buyers to act.

The threat of a lingering war in the Middle East affecting Canada’s economy led to an increase in bond yields, which raised fixed mortgage rates by 30 to 40 basis points, peaking in April. Typically, mortgage rates going up reduces demand, but Cathcart explains that may have been enough of a signal for Canadians sitting on the sidelines that conditions are favourable now.

“I think (mortgage) rates going up a little bit may have been a wake-up call for some of these people who were just waiting, waiting, and waiting, going, ‘Oh, maybe that was the bottom,’ and jumping in,” he explains in the Housing Market Report video (watch below).

Homes aren’t selling right away, helping curb unrealistic expectations

With the Bank of Canada having already hinted that the expedited rate-cutting days are over, Canadian buyers are returning to their local real estate markets and also noticing that homes aren’t being bought as quickly.

Cathcart points to how there was a burst of new listings in early April, but that didn’t translate to a burst of home sales that month, either.

“There aren’t a lot of markets left in Canada where houses sell in a week,” Cathcart said, throwing it back to the frenetic buying and selling days experienced in 2021.

Home sales vs new listings chart

He said these days the median amount of time for a home to remain on the market is a more sustainable 23 or 24 days, which would help explain May’s pop in sales.

This has all contributed to tempered expectations in terms of pricing, too. Buyers and sellers are more aligned than in months past. Sellers are settling on more realistic list prices, and buyers are showing some more eagerness in comparison to January.

“What (a home) lists for and what it sells for are coming closer and closer together,” Cathcart said.

Some areas of Canada continue to see increased prices, even with national averages stabilizing

When looking at year-over-year data, regionally, prices remain down on a year-over-year basis in British Columbia, Alberta, and Ontario, offsetting major gains in other provinces such as Saskatchewan, Quebec and Newfoundland and Labrador.

“If you put home prices being at a bottom alongside interest rates, which now have a risk they could go higher, they’re not going to go lower, then those two things together are what make affordability,” Cathcart notes, saying he also sees a timeline where this scenario brings even more buyers off the sideline in the second half of the year.

“Like the weather in many parts of Canada this year, the spring market appears to have been delayed by a month or so, but the May numbers left little doubt that activity is now picking up,” said Garry Bhaura, CREA Chair and a REALTOR® in Brampton, Ont. “The handoff from May into June is typically the busiest time of the year, so we now have a strengthening market happening at the most active time of the year. If you have been on the fence this year as either a buyer or as a seller waiting for a sign, this could be it, and the first step in coming off the sidelines is to get in touch with a REALTOR® in your area.”

Related articles you may find interesting:

7 superbes plages du Canada à découvrir

Inutile de s’envoler vers de lointaines contrées pour profiter de magnifiques plages! Que ce soit pour se prélasser, faire du camping ou pêcher, les amoureux de la plage trouveront leur bonheur au Canada. Voici sept plages canadiennes qui vous en mettront plein la vue.

Photo par Gourvenement du Yukon

Cet article a été initialement publié le 14 août 2023 et a été mis à jour pour garantir que les informations restent exactes et pertinentes.

1. Bennett Beach, Yukon

Certes, lorsqu’on pense aux plages, le Yukon ne nous vient pas forcément à l’esprit. C’est pourtant dans la municipalité de Carcross, à l’origine « Caribou Crossing », que se trouve la plage du lac Bennett. L’eau du lac est peu profonde, ce qui en fait un lieu de baignade idéal pour les familles. Il est aussi très agréable de marcher le long de la plage à la plate-forme d’observation pour regarder les poissons à travers l’eau limpide.

Les chercheurs d’or, qui essayaient d’accéder au Klondike, aimaient particulièrement ce lac. D’ailleurs, vous pouvez revivre la frénésie de la ruée vers l’or en participant à une activité de prospection dans la région. Vous pourrez aussi explorer le plus petit désert d’Amérique du Nord, d’une superficie d’à peine 2,6 kilomètres carrés, composé de dunes de sable.

Skaha Beach, Okanagan

2. Skaha Lake Beach, Penticton, Colombie-Britannique

La plage du lac Skaha dispose d’une longue étendue de sable fin et, cerise sur le gâteau, l’eau y est chaude et favorable à la baignade! Le parc offre également des aires de jeux, des terrains de volleyball de plage et des courts de tennis.

Situé dans la vallée de l’Okanagan, Penticton se trouve entre deux lacs et offre un environnement magnifique. Il existe de nombreuses plages sur le territoire de Penticton offrant une vaste gamme d’activités culturelles, sportives et gastronomiques. 

Rafraîchissez-vous en faisant un arrêt à la microbrasserie Yellow Dog ou en dégustant un sandwich à la crème glacée chez Lickity Splitz.

Photo par Tourisme Saskatchewan, Carey Shaw

3. Little Manitou, Manitou Beach, Saskatchewan

Depuis 1919, Manitou Beach est connu comme un village de villégiature. Ce qui fait déplacer les touristes c’est le lac Little Manitou. L’eau y est cinq fois plus concentrée en sel que l’eau de mer, et on peut y expérimenter l’état d’apesanteur! Il n’y a que cinq lacs dans le monde à posséder cette singularité.

En plus des plages du lac, vous pourrez profiter d’un centre avec une piscine minéralisée, jouer au golf, faire de la randonnée, danser au Graceland, ouvert depuis 1928, et apprécier les artistes locaux dans une petite galerie d’art.

4. Grand Beach, Grand Marais, Manitoba 

Grand Beach offre des dunes de 12 mètres de haut, et une superbe plage de sable fin qui s’étend sur des kilomètres autour du lac Winnipeg. Cette plage est reconnue comme l’une des plus belles en Amérique du Nord, et les amateurs de plage s’y pressent depuis 1920.

Elle est située à l’extrémité nord de la ville de Grand Marais, au Manitoba, et fait partie du parc provincial de Grand Beach. Deux belles randonnées autoguidées s’offrent à vous : Spirit Rock Trail et Ancient Beach Trail. Un camping et des aires de pique-niques sont à votre disposition.

Photo par Tourisme  Î.-P.-É. , Sander Meurs

5. Singing Sands, Basin Head, Île-du-Prince-Édouard

L’Île-du-Prince-Édouard compte de nombreux parcs provinciaux et de belles plages offrant de magnifiques circuits. Le parc provincial Basin Head a l’une des plus belles plages de sable blanc du Canada : la plage Singing Sands. Sa haute teneur en silice et en quartz lui confère ce son distinctif : lorsque l’on marche sur la plage, c’est comme si le sable chantait, d’où son nom.

La plage, surveillée par des sauveteurs, est divisée en deux par un chenal. 

Prenez le temps d’aller découvrir le musée de la pêche situé tout près, et de vivre le circuit côtier des pointes de l’Est.

Photo par Matthew Hewitson (Tourisme N.-B.)

6. Plage Parlee, Pointe-du-Chêne, Nouveau-Brunswick

La plage Parlee est réputée comme étant la plage d’eau salée la plus chaude au Canada.  Le parc provincial de la plage Parlee est situé à Pointe-du-Chêne, près de Shediac, au sud-est du Nouveau-Brunswick. Cette plage est très bien aménagée : un tapis roulant a été déployé, permettant ainsi aux personnes à mobilité réduite d’y accéder.

Il y a un camping à quelques minutes de marche et toutes les activités de la ville de Shediac y sont facilement accessibles : sans oublier la sculpture du plus gros homard au monde!

Dune de Sandy Hook Plage du Havre-Aubert
Photo par Bonjour Québec, Linda Turgeon

7. Havre-Aubert, Îles-de-la-Madeleine, Québec

Havre-Aubert est la plus grande île de l’archipel, entourée de dunes et de plages. La plage de Sandy Hook, aussi appelée la plage du Havre-Aubert, marque le début d’une mince bande de terre qui s’enfonce dans la mer. Cette plage de 12 km offre un bel environnement pour faire du kayak, du kitesurf et de la planche à voile, mais aussi pour observer les oiseaux.

L’événement à ne pas manquer : le concours de châteaux de sable ainsi que le Musée de la Mer surplombant la colline et offrant une vue exceptionnelle. 

Si vous prévoyez vous établir dans une de ces régions, communiquez avec un courtier ou agent  immobilier qui pourra vous guider dans le processus d’achat ou de location d’une propriété.