With Alberta’s population increasing at a rapid pace, housing inventories are tightening up, resulting in affordability challenges across the province. So, it is no surprise that rent prices are growing faster in the Western province than in any other place in the country. According to the latest figures from Rentals.ca, the average rent for a one-bedroom unit rose 0.9 per cent month over month to $1,711. This is also up nearly 10 per cent from the same time a year ago. The average rent for a two-bedroom unit was unchanged from the previous month at $2,073. However, this is up eight per cent ..read more

Whenever the Canadian real estate market topic comes up in conversation, it typically surrounds how first-time homebuyers are struggling to get their feet in the door. Whether the challenges of putting together a down payment or qualifying for a mortgage, aspiring homeowners have many hurdles to overcome. But while these labours of Hercules are undoubtedly real, move-up buyers also have an uphill battle to overcome as they are contending with comparable issues, from higher borrowing costs to more expensive residential properties in their communities or a faraway distance. Wait a minute. What ..read more

In the face of an ever-challenging housing market, Canadians are getting creative with how they acquire their first homes. Recognizing the hurdles of high property prices and the complexities of securing a mortgage individually, many first-time homebuyers are now exploring the prospect of buying homes with friends. This trend represents an inventive approach to homeownership, pooling resources to overcome financial barriers. This alternative ownership trend is discussed in depth in a recent RE/MAX report about alternative housing trends, offering insights into how groups of friends are naviga ..read more

Canadian homebuyers were taken by surprise after it was reported that the Canada Mortgage and Housing Corporation (CMHC) terminated the First-Time Home Buyer Incentive, also known as the FTHBI. As of March 31, the CMHC announced that “no new approvals will be granted.” While a chorus of industry experts asserted that the program possessed its flaws, others concede that the five-year-old initiative was one of several tools to help young families and households achieve the Canadian dream of homeownership. Looking ahead, prospective homebuyers will now need to pursue other avenues to improve the ..read more

The federal government will not apply the controversial capital gains tax hike to primary residences, Ottawa announced on April 16 when unveiling the 2024 budget. For weeks, there had been speculation that Prime Minister Justin Trudeau and his Liberal government would introduce a levy on homeowners. Ottawa released the $450.8 billion federal budget for 2024, which features a $40 billion deficit, billions of dollars in new spending, and programs to benefit younger and older Canadians, the disabled, and Indigenous communities. One of the main facets of the tabled budget is the capital gains tax ..read more

RE/MAX is honoured to have been named Canada’s Children’s Hospital Foundations 2023 Canadian Corporate Partner of the Year. “In neighbourhoods across Canada, RE/MAX agents are active in their local communities in many ways, including the RE/MAX Miracle Home Program,” says Adam Starkman, President and CEO of Canada’s Children’s Hospital Foundations, official manager of CMN partners and programs in Canada. “Through this program, and other fundraising efforts, RE/MAX brokers and agents play a vital role in helping to improve the health of children and are a critical ongoing source of funds for C ..read more

Prime Minister Justin Trudeau and his Liberal government unveiled the $480.5 billion federal budget for 2024. Inside the 400-page-plus budget includes more than $52 billion in new spending over five years that courts a wide array of voters heading into next year’s election. While the budgetary blueprint proposes various support payments, tax increases, and finance programs for Indigenous communities, Ottawa is also looking to tackle the housing file with nearly $9 billion in new spending. It had been widely expected that the prime minister and his team would dedicate a large portion of the fe ..read more

The post RE/MAX Cares: The Miracle Home and Miracle Commercial Property Program appeared first on RE/MAX Canada ..read more

Now that mortgage rates could finally be easing from their two-decade highs, you are considering posting a ‘for sale’ on your front lawn. Many Canadian real estate market experts believe that now is an opportune time for homeowners to list their single-family homes or row houses on the open market, with more buyers returning to the marketplace to achieve the Canadian dream. With 41 per cent of Canada’s housing sector expected to be in balanced territory and another fifth anticipated to favour buyers, how can sellers get the best deal possible? It is all about employing the best negotiating ta ..read more

Downsizing your home usually signifies a major transition, often driven by a need for a simpler life, financial considerations in retirement, or the nest becoming empty as children move out of the house. When selling your home, it’s not merely the physical task of moving or getting rid of possessions that makes this process daunting; it’s the emotional journey that accompanies it. There are emotional hurdles associated with downsizing, so it will take insights and strategies to embark on this significant life change. By addressing the complexities of emotional attachments to possessions, the ..read more