Should You Buy a Home in Ontario in 2025? What Every Homebuyer & First-Time Homebuyer Needs to Know

The Ontario real estate market in 2025 feels like navigating a shifting landscape. While prices have seen some cooling in areas, interest rates remain elevated, and a mix of uncertainty and cautious optimism defines the current climate for both buyers and sellers. So, for those eyeing homeownership in Ontario, especially first-time buyers, is now the right moment, or should you hold off?

Let's break down the key dynamics in Ontario's housing market and what they mean for your home buying...

Is your current mortgage term coming to an end? If you still owe money on the mortgage, you will need to renew it. The process is easier when you know the steps to follow.

Plan well ahead: Begin your renewal process at least 90 days before your current mortgage term expires. This gives you ample time to research options and compare rates.

Review your mortgage renewal statement:
A federally regulated lender like a bank must provide you with a mortgage renewal statement at least 21 days before the term ends. The statement must contain the following information:

• the balance or remaining...

(NC) Summer is a time to stretch your legs and enjoy the warm weather with your family and friends. During this time, many people are also looking to make upgrades to their homes.

Whether you’re looking to add more value to your home, make a few eco-friendly improvements or simply maximize your enjoyment, there’s a renovation project for everyone. Give your home a breath of new life with these summer renovation projects that can add value to it.

1) Update the interior

• If you’re looking to undertake some bigger projects, first consider whether you have the necessary skills and...

Accessible Home Buying Pitfalls and How to Avoid it!

(NC) Buying a home is the biggest purchase most of us will ever make. There are many factors to weigh when deciding which one to put an offer on. If you or a loved one has mobility or cognitive limitations, there are even more things to consider. Here are five, and some potential fixes if your would-be dream home is missing some key elements.

Steep exterior steps
If someone with mobility issues can’t even make it inside the front door, that’s a major dealbreaker. The treads on any exterior stairway should be of uniform height and...

In a notable development, the Bank of Canada has announced its first interest rate reduction in four years. Effective today, the policy rate has been lowered by 25 basis points to 4.75%. This prompts a crucial consideration for potential homebuyers in Ontario: is it better to wait for additional cuts or to purchase now?

Implications of the Rate Cut for Homebuyers:
- Enhanced Affordability: The cut in interest rates suggests that mortgage borrowing costs are set to decline, thereby making home loans more affordable, particularly for first-time buyers or those seeking to upgrade.
- Lower...

Buying preconstruction homes and condos can be a great investment, especially in Ontario. Here are some things to consider:

Early Stages of Development: Developers often offer properties at more attractive prices during the early stages of development1. For instance, a pre-construction condo in Toronto could cost around $650,000, compared to a resale condo of the same size and amenities costing around $715,000.

Market Trends: The average selling price of pre-construction properties in Ontario has been remarkably lower than that of the previous year’s selling price2. This suggests that...

If you are looking for buying smart homes and condos, feel free to reach us. 

(NC) A recent survey found that while four out of five Canadians are aware of how smart home technology can make it easier to manage their energy consumption, only one in five have adopted these tools in their home. You can ask your contractor to elaborate on these four basic questions to help you better understand smart home technology.

What do smart home technology products do?
Smart appliances and fixtures are ones that can be controlled and monitored remotely and, through machine learning, will...

Aging Brings Changes

Aging affects each individual differently. Some seniors experience physical limitations that seriously affect their level of activity while others are able to remain quite active. The natural process of growing older, however, generally includes changes in abilities. If you're experiencing some of the problems associated with the changes described below, consult your health professional and make sure you undertake whatever changes or adaptations will help you cope and compensate.

Vision

Eyes take longer to adjust from dark to light and vice versa, and become...

Durham REALTORS® Report April Housing Statistics

May 6, 2021 @ 8:23 AM

Source: DRAR

Durham Region Association of REALTORS® (DRAR) President Michael Watson reported 1,771 residential transactions in April. This represents a record-breaking year-over-year increase when compared to April 2020. Last year at this time was the first full month of the pandemic and the impact on the housing market should be taken into consideration.

(NC) The return of warmer weather doesn't just mean the start of summer, it's also the kickoff to home improvement season. Every home deserves a light, airy refresh to embrace a brighter season ahead. Fortunately, transforming your space doesn't mean you need a big budget or a lot of time.

Elevate your home in just one weekend with these easy DIY projects inspired by Sharon Grech, Benjamin Moore colour and design expert.