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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3 ways to improve the mortgage stress test Image

3 ways to improve the mortgage stress test

At the end of 2018, I wrote about the idea of reducing or repealing the mortgage stress test. Now I want to suggest some possible amendments that would make the stress test more fair now that interest rates are rising and home prices are still high. 

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2019 will be another challenging year for first-time buyers Image

2019 will be another challenging year for first-time buyers

You thought first-time buyers had it tough in 2018 - it’s looking like 2019 may be even harder on singles and couples looking to step onto the homeownership ladder. 

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Follow these important steps to go from renting to owning Image

Follow these important steps to go from renting to owning

Now that rent control no longer applies to newly built or converted rental units, you have even more reason to start saving up to buy your first home. 

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