This unique savings plan would give first-time home buyers the option to save up to $40,000 on a tax-free basis! “The government expects that Canadians will be able to open and contribute to an FHSA at some point in 2023. No matter when this happens in 2023, Canadians would be allowed to contribute the full $8,000 annual limit in that year. “ Here is what you need to know about the First Home Savings Account (FHSA): To open an FHSA, an individual must be a resident of Canada and at least 18 years of age. In addition, an individual must be a first-time home buyer. Contributions to your FHSA ar ..read more

Didn’t January fly by? If you blinked, you might have missed it! Well, the good news is according to weather expert Wiarton Willy we’re going to have an early spring. The sun seems to finally be making a comeback after many grey days in January. Family Day weekend is just around the corner and we hope you’re able to make the most of it – check the bottom of the newsletter for some fun local activities. Just like the weather, the real estate market has been warming up too! Buyers are really active right now in comparison to the end of 2022 when there was so much uncertainty with mortgage rates ..read more

Many clients are not aware of issues that may arise on title. This is mostly when they have never had to overcome such obstacles – fortunately for them. Sometimes, there are unknown liens or other instruments on title, that affect the free and clear use & enjoyment of a property. It is crucial that you employ the expertise of a local realtor, who may have insight on local ongoings, can research historic listing information, and catch red flags when they may be present and visible. It is also essential to use a reputable lawyer who can facilitate any title searches in a timely, thorough fas ..read more

Summer has officially wrapped up, but it looks like the sunny weather is going to stick around for a bit. If you had kids going back to school this year, we hope the transition went smoothly. If not, we hope you had a great summer too! We look forward to catching up with you. Back to business, there have been some major shifts in the market and big changes in the experience of buying or selling a home. Despite what you may see in the news about real estate, we’re doing pretty good here in Guelph, Wellington County, and the surrounding areas. We all saw an extreme and unsustainable spike in sa ..read more

The easiest graphic to remember! With much chatter in the interest rate world (it’s the popular backyard barbecue topic of discussion right now, isn’t it?), we wanted to share a short info blurb on it. Variable and adjustable rate mortgages fluctuate ongoingly as the BoC prime rate changes. Adjustable rate mortgages allow you to keep contributing a consistent amount to your principle. The interest portion just changes as fluctuations occur. Therefore, the monthly payment amount changes. This is harder for budgeting purposes for some people. Variable rate mortgages allow the monthly amount to r ..read more

Spring is finally here after a long, cold winter – the days are getting longer and summer is on the horizon, which we all welcome. With the blooms of trees and the awakening of gardens, we are seeing a substantial increase in the Spring housing inventory, which is a relief from the desperate shortage that we have had over the last year. The market has certainly been unpredictable in the last month. Overall, buyers seem a bit fatigued. This is amplified by the interest rate increases, higher fuel costs and geopolitical ongoings, among other things. It has resulted in some inventory remaining a ..read more

We are midway through the year and what a whirlwind it has been, not only in the Guelph real estate market, but for all businesses alike. Countries, cities, and communities have all experienced various effects from COVID-19. As real estate trends and activity are unique to a local level, there are considerable differences and changes with housing inventory and pricing from neighborhood to neighborhood, city to city, and so forth… Guelph is showcasing its resilience with both buyers and sellers pushing through this unprecedented time. While there are now more hoops to jump through for both buye ..read more

How is COVID-19 affecting real estate? COVID-19 is evolving on a daily basis and the market is doing its best to work around it in a safe and responsible manner. In this blog, we are discussing what we are currently seeing in Guelph’s real estate market, recent bank/lender options, and strategies to help continue your real estate activity safely as a buyer or seller.   Firstly, what is happening in Guelph’s real estate market? Currently, we are seeing a lower amount of inventory in comparison to last year around this time. February 2019 had 281 active listings while this February 2020 had ..read more

Our role as Realtors is largely to act as mediators amongst parties. Mediators, negotiators, it is what we do all the time to bring two interested parties together, to a common ground of understanding. It seems pretty straight forward. Real estate is often anything but. Clients contract our services to utilize our expertise, the offerings we can provide, the connections we may have and the ability to transact. We do it daily, our clients do not. However, we find that in some rare cases (and usually in the midst of these negotiations), sellers view the buyer as the opponent, the enemy. Specific ..read more

“Thirty years ago selling your house was drastically different than selling your home today. What was once a relatively simple process now has several more underlying moving parts. If you haven’t bought or sold a house in a while, these changes may feel overwhelming or daunting. Rest assured, our team of REALTORS are here to educate and guide you through the ever-changing process of buying and selling real estate. Let us take you back to circa 1992 when agents received information on new listings from their local real estate board office. A single photo and a short description o ..read more