1. Deposit Structure   Every project will have a different deposit structure on when payments will need to be made to the builder. The biggest advantage when buying pre-construction compared to something that is already built is the extended deposit structure. With pre-constructions, your down deposit is spread over time (usually totalling 20% of the purchase price) instead of putting it all down at once when buying a resale. Here is an example of a typical deposit structure in... [read more]

In an attempt to cool the real-estate market and reduce inflation, the Bank of Canada has increased the overnight interest rate by 0.25%. An increase in the cost of borrowing is certain to have an impact on the number of homeowners and homebuyers. According to economists, Canadians could see as many as four interest rate hikes this year, each comprising an additional 25 basis points. By the second half of 2023, the interest rate is expected to reach 1.75 per cent. Those with fixed-rate... [read more]

One question that many people grapple with is whether you should try to purchase a condo unit versus renting it. This article will help you to consider the five advantages of buying versus renting a condo, so that you can make the best decision for your life circumstances. Advantages of Buying   #1: Building equity Condominiums are often thought of as starter properties because their price points are typically more affordable than detached homes. A lower purchase price means a... [read more]