The COVID-19 pandemic turned Canada’s housing market on its head. Many had anticipated a significant crash in the early days of the public health crisis, but the opposite transpired, with a big change in consumer buying and selling patterns.

Many Canadian homeowners, eager to take advantage of enormous equity gains on their residential properties – and with remote work an HR-sanctioned option for accomplishing most day-to-day tasks – chose to sell and move elsewhere in search of a bigger place or a quieter way of life. The resulting increase in the demand for homes and a shortage of listings created strong seller’s markets across the country. With the home-buying process suddenly more challenging, many homeowners decided to play it safe by committing to buying a house before selling theirs. But how does buying a second home before selling the first actually work? Read more…

Closing: Understanding your Legal Buyer Obligations

RE/MAX Blog

After weeks or months of viewing and bidding on properties, your offer on the house of your dreams has been accepted. Now what? At this point, typically, there is a bit of a waiting period. The closing date in real estate is defined as the day the buyer officially becomes the owner of a property after all the legal and financial aspects of the transaction are complete. The closing date is when the buyer becomes the legal owner of a property. Closing periods – the time it takes to complete the closing tasks – can take several weeks to a few months, but some essential buyer obligations must happen quickly.

H2 How Long Does It Take to Close on a House?
The buyer and seller typically agree on the closing date in real estate when the Agreement for Purchase and Sale (a legally-binding contract) is signed. The contract often sets the closing date at 30 to 60 days after the agreement, but the buyer and seller may stipulate that the closing date can be changed or extended if both parties agree.  Read more…

The Best Homesteading Areas in Canada

RE/MAX Blog

Homesteading in Canada has risen in popularity in recent years, partially thanks to media exposure and the rise of remote work that makes self-sufficient living more possible. Another factor that’s likely prompted households to reconsider where and how they reside is undoubtedly the high cost of housing in Canada. Many individuals and families in Canada also look to homesteading as a way to regain their independence from the precariousness of urban areas and practice living off the land in Canada. Others live near urban centres but use traditional methods of growing and preserving their food as a compromise solution.

Canada is a vast country with a climate that can be extremely harsh and land that can be unforgiving – and as homesteading relies on copious amounts of manual labour, at least some mechanical aptitude and a can-do approach to problem-solving – especially in the face of unexpected circumstances (of which there will be many) or in response to outright danger and disaster, homesteading in Canada is not for the faint of heart, and NOT to be taken lightly. Read more…

8 Best Ways to Finance Major Home Renovations

RE/MAX Blog

Once you decide to upgrade your home – whether you’re planning to stay for a while or sell in the near future – thoughts about the best way to pay for home improvements soon take centre stage.

Some minor upgrades, such as new paint or simple updates to light fixtures and faucets, don’t typically cost a whole lot of money, but even the best-planned projects can quickly snowball out of hand, and the costs add up. Thankfully, there are numerous ways to help you afford what you need and even deal with increased costs caused by the dreaded reno surprises such as floor rot, foundation cracks or faulty electrical wiring.

So, what’s the best way to finance home improvements? Read on in order to discover your options so you can forge ahead confidently, knowing that you’ll have the financial means to make your vision a reality, no matter how many surprises you encounter! Read more…