What is a Halal Mortgage? How does it work? Federal Government Considers Making Islamic Home Financing More Accessible A Halal mortgage, also known as Islamic mortgage, is a financial product designed to comply with Islamic law (Shariah) principles, which prohibit the payment or receipt of interest (riba). Instead of charging interest, a Halal mortgage typically involves a form of co-ownership or profit-sharing arrangement between the lender and the borrower. In a bid to facilitate greater access to housing for Canadians, the federal government is eyeing measures to expand the availability ..read more

Proposed Changes to Capital Gains Tax Proposed Changes to Capital Gains Tax: How it impacts Real Estate Transactions Budget 2024 has introduced and proposed significant changes to Canada’s capital gains tax rule, which have potential implications for individuals, real estate investors and the selling of investment or properties other than primary residences, should these rules be adopted and come into effect on June 25th, 2024. Budget 2024 proposes an increase in taxes on capital gains. To make Canada’s system more fair, the inclusion rate, the portion of capital gains on which tax is paid ..read more

Home Maintenance Tips for Spring – Homeowner’s Essential Checklist Spring Checklist for Homeowners Revitalize Your Home for the Season Ahead As the gentle warmth of spring permeates the air, it brings with it a sense of rejuvenation and renewal. After the long winter months spent indoors, homeowners eagerly anticipate the opportunity to refresh and revitalize their living spaces. With the arrival of spring, now is the perfect time to embark on a comprehensive home maintenance checklist, ensuring that your home is primed for the vibrant seasons ahead. Whether you are looking for home improveme ..read more

CMHC Housing Market Outlook 2024 & Beyond CMHC Housing Market Outlook – Insights and Projections The recent housing forecast released by the Canada Mortgage and Housing Corporation (CMHC) has sparked conversations across the country. According to their newest report released today, the CMHC says that home prices might rise to levels similar to those in early 2022 by next year and could set new records by 2026. In line with our previous insights on the Canadian real estate market outlook, particularly focusing on the GTA market, where the shortage of homes persists amidst a growing influ ..read more

GTA Real Estate Market March 2024 GTA Real Estate Market March 2024 Summary Lower Monthly Home Sales  As per the March 2024 TRREB Market Watch Report, the number of homes sold across the GTA was less than in March 2023. In March 2024, there were 6,560 home sales, which is 4.5% less than March 2023. One reason for this could be that the holiday Good Friday happened in March this year, whereas it was in April last year. However, there was good news too, as new listings went up by 15% during the same period. More Houses, More Buyers, Higher Prices Even though there were more homes avai ..read more

Should I buy a condo apartment or a freehold home in Mississauga? How to Choose the Right Property Type? Choosing the Right Property Type for Your Mississauga Lifestyle We often receive this question, so let’s address it logically. The critical factor to consider is your mortgage qualification. Your decision should be based on what amount the bank can approve you for a mortgage loan. Below, we’ll explore both types of properties (freehold and condominium) and help you determine which option may be more suitable for you. Freehold properties vs. condominiums (condo apartments or condo townhou ..read more

Negative Cash-flow in Real Estate Investment Navigating Negative Cash Flow in Real Estate Investment In the realm of real estate investment, the concept of negative cash flow often sparks a debate among investors: is it truly beneficial to carry such a financial burden on investment properties? In recent times, many investors find themselves in this predicament due to the surge in interest rates. Those who made purchases back in 2022 and 2023 are particularly affected, many investors find themselves locked into fixed mortgage terms spanning five years. Consequently, even as interest rates d ..read more

How to avoid being House Poor & Strategies for Balance Understanding Overextended Homeownership What does it mean to be “House Poor”? Securing a mortgage pre-approval is an exciting step towards owning your dream home. However, when your desired property pushes the boundaries of affordability, it can lead to a situation known as being “house-poor.” In this post, we’ll delve into what it means to be overextended in homeownership, how to prevent it, and strategies to navigate the situation if you’re already facing it. The Financial Burden of Homeownership As you embark on your home-buying j ..read more

GTA Real Estate Market February 2024 GTA Real Estate Market February 2024 Summary GTA Real Estate Market Performance: As per the February 2024 TRREB Market Watch Report, last month, the Greater Toronto Area (GTA) witnessed a surge in both home sales and new listings, marking positive growth compared to the same time last year. Additionally, selling prices saw a slight increase from the previous year. This uptick can be attributed to the continuous population growth and the resilient regional economy, which have upheld the demand for housing in the area. Impact of Borrowing Costs However ..read more

Alternative Home Buying Options – A Growing Trend Exploring Alternative Home Buying Options in the Canadian Housing Market In today’s economic climate, many young Canadians are seeking alternative paths to fulfill their dream of owning a home. Whether it’s skyrocketing housing prices, challenging mortgage requirements, or simply the desire for flexibility, a growing number of home buyers, especially first time home buyers are looking beyond traditional ownership structures. In this blog post let’s look at the trends and considerations that are shaping up alternative home ownership in Canada ..read more