Ready to lease a space for your business? Being prepared is key to negotiating the best deal. Before you sign on the dotted line, take the time to understand the key terms you’re likely to encounter in your contract, plus the difference between a net lease vs. gross lease, so your lawyer and commercial real estate agent can help you reach an agreement that sets you and your business on the path to success. Read more…

Firm Standing on Mortgage Renewals: No Relief on Stress Test

From Remax Blog

In 2016, the Canadian government introduced the mortgage stress test as a vital tool to curb risks associated with mortgage lending, especially when the Canadian real estate market experiences higher prices and lower interest rates. It was also amended in 2021 to require borrowers to prove they can maintain mortgage repayments that are 200 basis points above the contracted rate. Read more…

How to Increase Your Mortgage Pre-Approval Amount

From Remax Blog

Securing a pre-approval mortgage is the golden ticket that provides insights into your borrowing capacity and sets the stage for your house-hunting adventure. But what if you aspire to reach for a more substantial pre-approval amount, one that can unlock the door to your dream home? Whether you’re a first-time buyer looking to maximize your budget or a seasoned homeowner eyeing a larger investment, there are strategies you can use to take control of your financial profile and elevate your homebuying potential. Read more…

Latest Commercial Real Estate Market Trends in Canada

From Remax Blog

We won’t blame you if the film Everything Everywhere All at Once immediately comes to mind when you think about Canada’s latest commercial real estate market trends. It’s an apt way to visualize the myriad of factors currently at play in the market and the sometimes messy, sudden and surprisingly exhilarating changes they’re invoking. Read more…

Different Types of Debt and How They Affect Mortgage Approval

From Remax Blog

Debt helps determine the borrowers’ creditworthiness and commitment to their financial obligations. Understanding the different types of debt and how they affect mortgage approval helps potential homebuyers take the necessary steps to get higher chances of securing a mortgage. Moreover, recognizing the factors when evaluating a borrower’s debt-to-income ratio will help individuals meet the criteria before applying for a mortgage. Read more…

Real Estate Definition: What is a Chattel?

From Remax Blog

As you navigate the Canadian real estate market, you might have come across something called a chattel. But what is a chattel? And what is a chattel in real estate?

Put simply, a chattel is a movable personal property not permanently affixed to the land. Some examples of chattel include furniture, appliances (dishwashers, dryers, stoves, and fridges), and personal items.

Beyond a basic definition, what else do you need to know? Let’s dive a bit deeper. Read more…

Six Choices for Homeowners Refinancing a Mortgage with Soaring Interest Rates

From Remax Blog

Since the beginning of 2022, the Bank of Canada (BoC) has been on a crusade to vanquish inflation in the Canadian economy by engaging in a quantitative tightening (QT) campaign. This is a blend of raising interest rates and trimming its balance sheet, which is filled with government and corporate bonds and mortgage-backed securities.

Fast forward to the present, the central bank has raised interest rates to their highest levels since before the global financial crisis, lifting the overnight policy rate by 500 basis points to around five per cent. Read more…

How to Choose the Right Location for Your Business

From Remax Blog

Location is crucial to any business’s success, but the commercial real estate needs of a restaurant, retailer, consulting firm, mechanic or manufacturer will all be very different.

For a restaurant that opens for lunch but serves food until the wee hours of the morning, the best location might be a buzzing downtown with a mix of office towers that go dark at the end of the workday and theatres, dance clubs and entertainment venues that light up at night.

For a retailer that sells books, magazines, snacks and travel accessories, a storefront along the corridors of a busy airline terminal would be a dream come true. Read more…

Is Low Supply Keeping Canadian Real Estate Prices High?

From Remax Blog

A year ago, housing affordability dominated national conversations as the Canadian real estate market exploded in growth across major urban centres and rural communities alike.

This year, the conversation has ostensibly changed, with buyers, sellers, market analysts and industry experts discussing the path the Bank of Canada (BoC) will take in 2024 and immigration levels. Will the central bank cut interest rates next year or keep the policy rate higher for longer? How much will the immigration boom impact the Canadian real estate market? Read more…

The Top Commercial Real Estate Investment Strategies in Canada

From Remax Blog

Although often touted as a safe haven when compared to the stock market’s volatility, over the past 25 years, Canada’s S&P/TSX composite index has actually generated annual returns equal to, or better than, even key Canadian real estate markets such as Toronto and Vancouver, which have experienced skyrocketing increases in residential real estate prices over the past few years.

Like any investment, commercial real estate investing comes with risks. However, applying sound commercial real estate investment strategies can be an essential counterweight in balancing an overall investment portfolio – especially if you know how and when to invest. Read more…

How to Prepare Your Home for Winter

From Remax Blog

Winter is a season that brings along chilly temperatures, snow, and icy conditions. While it is a beautiful time of year, it is crucial to take certain precautions and make necessary preparations to ensure that your home remains warm and cozy during this period. As you take the time to prepare your home for winter, you can not only protect your property from potential damage but also create a comfortable and inviting space to retreat to during the coldest months of the year. Read more…