See what first-time buyers expect to pay for their first home Image

See what first-time buyers expect to pay for their first home

As home prices continue to rise in Ontario, first-time buyers are getting slightly less optimistic and are seeking out larger financial gifts from friends and family, according to recent survey results. 

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CMHC explains why the First-Time Home Buyers Incentive will work in Toronto and Vancouver Image

CMHC explains why the First-Time Home Buyers Incentive will work in Toronto and Vancouver

Last week, the Canada Mortgage and Housing Corporation came to the defence of the First-Time Home Buyers Incentive (CMHC will be the organization partnering in the shared equity mortgages).

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Housing slowdown gives first-time buyers a chance in Canada’s biggest cities Image

Housing slowdown gives first-time buyers a chance in Canada’s biggest cities

Royal LePage recently released the results of its House Price Survey for the first quarter of 2019, which focuses on the three most popular housing types: two-storey homes, bungalows, and condos.

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Shared equity mortgages: A good idea going to scale Image

Shared equity mortgages: A good idea going to scale

When the Federal government released its budget in mid-March, those in the housing sector were eager to see what might be in store to help address the pressing need of making housing more affordable.

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Why I’m having second thoughts about the First-Time Home Buyer Incentive Image

Why I’m having second thoughts about the First-Time Home Buyer Incentive

So, I’ve had some time to contemplate the federal government’s moves to make buying a home easier and more affordable for first-time buyers, and I’m now having some second thoughts. 

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How the government is planning to improve housing affordability for first-time buyers Image

How the government is planning to improve housing affordability for first-time buyers

Finance Minister Bill Morneau tabled the Government of Canada’s Budget 2019 yesterday, and there was an emphasis on improving housing affordability for first-time buyers.

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Canadians want bigger first-time buyer tax credit in federal budget: survey Image

Canadians want bigger first-time buyer tax credit in federal budget: survey

There’s no doubt that housing affordability – or the lack thereof – has been one of the biggest financial challenges facing Canadians in recent years. That’s led to growing pressure on the federal government to take action.

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4 ways to make buying a home easier for first-time buyers Image

4 ways to make buying a home easier for first-time buyers

I recall seeing young couples buying new detached homes in Brampton, Markham, Mississauga, Oakville, Oshawa, all across the Greater Toronto Area and surrounding regions. Today, I’m seeing fewer and fewer first-time buyers, even in new condo sales centres.

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Builders report 33% drop in first-time buyers Image

Builders report 33% drop in first-time buyers

It’s now been more than a year since the stress test came into effect. The policy requires that you qualify at 2% higher than your agreed upon rate with your lender. This test applies whether you put down more or less than 20% on the home.

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5 things to consider when applying for a mortgage Image

5 things to consider when applying for a mortgage

When you buy a new home preconstruction, there can be a few years between getting pre-approved for your mortgage and your final closing (when you actually need to qualify for your mortgage).

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