The ongoing impact of COVID-19 has been felt deeply throughout the entire country, and the Canadian housing market is no exception. With conditions continuing to evolve, is now a good time to buy a new home in Canada?

Whether you’ve outgrown your current home, are fed up of the area you’re living in, or are wanting to get your foot on the property ladder for the first time; you know you need a new home, but have you thought long and hard about what you realistically want from it?

You got a great deal on your mortgage, and have enough money in the pot to turn your Canadian home into a dream living space, but you must still be realistic about what you can afford, and how far you want your renovation project to go.

As a significant financial investment, purchasing a home is difficult for many people without a mortgage, and while there are no solid guarantees that you’ll be approved for the mortgage of your choice, you can take the following steps to give yourself the best chance of making it happen:

HOA fees, or Home Owners Association Fees are commonly required for properties purchased in some of Calgary’s newer communities, such as Auburn Bay, Mahogany or West Springs, in which residents are required to pay an annual fee to community associations.

As a short-term interest-only loan taken out with the available equity in your property, a second mortgage is typically only offered by private lenders, and unfortunately, their rates are higher than those you’d see for first mortgages at a bank.

If you choose to work with a qualified mortgage broker in your locality, they will help talk you through your loan estimate, a 3-page document outlining the most important details of your loan, and help you to understand what the lender expects from you if you choose to proceed.

Getting the right property at the right price is crucial if you’re planning to buy a commercial building in Canada, and the first part of the process is to understand the different types of commercial properties available to you.

For anyone wanting to purchase their first property, the process can seem more than a little daunting, and knowing who to turn to for help and advice, not to mention your mortgage, can be confusing.

The real estate market in Calgary has been incredibly busy up until now, and looks set to continue that way. With the ongoing health pandemic, Canadians have been forced to alter everything about their lives, and with lockdowns and curfews in place for many weeks, their priorities have shifted towards their homes, and making them as comfortable and livable as possible.