Starting January 1st, 2017 first time homebuyers will receive a break on the Land Transfer Tax on their first home purchase.   In an effort to help first-time homebuyers—but not hurt the equilibrium of housing markets outside of Toronto—the Ontario Liberal government announced last fall that they will double the first-time homebuyers’ maximum Land Transfer Tax refund to $4,000.  This will mean that eligible homebuyers in Ontario would pay no Land Transfer... [read more]

Canadians are increasingly tapping the ‘Bank of Mom and Dad’ for home down payments, according to a recent study. A record-number of Canadians are expected to accept help from their parents when buying a house this year in the wake of more stringent lending rules, according to RateHub. According to states released by the financial tech company, 42% of BC-based buyers received help from relatives. A shocking 45% of Quebecers received help; 38% of Albertans; 33% of buyers... [read more]

CMHC announced early Tuesday it is increasing its loan insurance premiums effective March 17 2017. “We do not expect the higher premiums to have a significant impact on the ability of Canadians to buy a home,” said Steven Mennill, Senior Vice-President, Insurance. “Overall, the changes will preserve competition in the mortgage loan insurance industry and contribute to financial stability.” According to the Crown Corporation, the average homebuyer will see a $5... [read more]

Central Hamilton has become one of Ontario’s most intense hotspots for housing demand, if recent numbers are anything to go buy.   In its year-end sales update released Monday (February 6), the Realtors Association of Hamilton-Burlington revealed that home prices in the area have posted spectacular growth from 2006 to 2016, increasing by 129.5 per cent.   This represented a staggering upsurge from a median cost of $120,529 (across all housing types) to $276,549 in just a... [read more]

Are you looking to update your home in 2017? A visit to the National Home Show is just the ticket - and we have a special offer to our clients both past and new.   Buy 2 tickets for the price of 1 ($20 savings). These are VIP Tickets allowing special entrance and complimentary coatcheck.  You get Front of the Line access to The Dream Home and front row seating at the Main and Idea stages! The Show Runs March 10 - 19  you can also visit Canada Blooms at the... [read more]