Author: Stan S.

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    Who Are the First-Time Home Buyers?

    ByStan S.

    Buying Through the Uncertainty Among the first-time home buyers, 67% felt uncertain or had concerns during their home-buying journeys. Their concerns ranged from living with high monthly carrying costs to interest rate increases, as 63% are already overpaying for a home worried about their future finances and mortgage payments. This fear may explain why more than half of these first-time buyers opted for co-ownership: purchasing a home with their parents, siblings, or even their friends instead of their partner or spouse. Most FTHBs believe that they have received the best mortgage for their needs. 56% chose a fixed mortgage, leading to 72% saying they are comfortable with their mortgage debt. 79% believe that homeownership is a good long-term financial investment, and 71% are confident that the value of their home will appreciate in the next year. Gifts and Incentives: A good 41% of FTHBs have received monetary gifts or inheritance towards their down payments, averaging $74,570; however, 80% of those who received a gift stated that they would have proceeded to purchase a home even without one. This means that purchasing a home would have still been within their means, whereas only 65% have paid the maximum of their budget. Other incentives that have helped first-time buyers include utilizing savings from a tax-free home savings account (FHSA) and savings outside of a registered retirement savings plan (RRSP). A Home Buyer’s Plan (HBP) is an FTHB program that enables a withdrawal of up to $60,000 from an RRSP to purchase a home, requiring repayment of that amount over 15 years. The federal government has also recently released a new GST relief program for FTHBs to receive a full GST rebate on new homes valued at up to $1 million and a phased reduction between $1 million and $1.5 million, which means FTHBs can save up to $50,000 on taxes. Unexpected Costs: Even though a majority of first-time home buyers discussed potential unexpected homebuyer costs with their mortgage professional before purchasing, 44% still incurred these unexpected costs. From lawyer or notary fees to home inspection and immediate repairs, these costs may have been anticipated and factored into the budget if they had known what to expect. 56% of FTHBs utilize social media, including YouTube, Facebook, and Instagram, to receive information regarding mortgage options. This is where it is crucial to do your homework to research and fact-check the information you are receiving! Much of the news and circulating information can be stretched, misrepresented, or not offer the whole truth.

  • iPhone 14 Hülle: Der perfekte Schutz für Ihr neues Smartphone

    ByStan S.

    Wenn Sie kürzlich Ihr iPhone 14 gekauft haben oder bald planen, sollten Sie unbedingt auch eine passende Hülle in Betracht ziehen. Eine gute Hülle schützt Ihr teures Gerät vor Kratzern, Schrammen und sogar Fällen. Hier sind einige der besten Optionen für iPhone 14 Hüllen, die Ihnen auf dem Markt zur Verfügung stehen. 1. Die elegante…

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    North Vancouver overtakes Vancouver as most expensive Canadian city to rent

    ByStan S.

    Posted June 9, 2025 9:55 am. A new rental report comparing data from across Canada shows that the price of renting a home in Metro Vancouver is still dropping. The report from Rentals.ca and Urbanation shows rents fell by 5.9 per cent in Vancouver last month, compared to May 2024, to an average of $2,830. CLICK HERE TO LISTEN TO 1130 NEWSRADIO VANCOUVER LIVE! The region also saw the country’s largest decline in shared rent, with a just under 10 per cent drop. “The easing in rents this year across most parts of the country is a positive for housing affordability in Canada following a period of extremely strong rent inflation lasting from 2022 to 2024,” said Shaun Hildebrand, President of Urbanation. “Rents have recently been impacted by the combination of a surge in supply from new apartment completions, as well as a slowdown in population growth and a heightened level of economic uncertainty.” North Vancouver is the most expensive place to rent in the country, with a one-bedroom home coming in at $2,620 a month, followed by Vancouver, Burnaby, and Coquitlam. Toronto is in the number five spot at $2,300 a month for a one-bedroom. Despite the continued drop, Rentals found that the asking price for rentals across the country is still up 12 per cent over the last three years.

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    Snowbirds Leave the U.S.: Where Will They Fly to Now?

    ByStan S.

    Canadians account for the largest group of international tourists in the United States, and 40% of all foreign visitors to Florida alone. In 2024, they spent an estimated $20.5 billion USD stateside, which is why, according to the U.S. Travel Association, even a 10% drop in Canadian visitors could result in a loss of $2.1 billion in spending and 14,000 jobs. But the annual spending and visitation are rapidly changing, and it’s no longer just about boycotting American products or avoiding U.S. politics. The deepening rift between Canada and the United States—driven by policy shifts, travel restrictions, and economic uncertainty—has many snowbirds rethinking their winter plans. Increasingly, they’re packing up, selling off their U.S. real estate, and looking to invest further south for their seasonal migrations. What Is a Snowbird? Commonly associated with Canadians, “snowbirds” are retirees over the age of 65 who spend many months (approximately up to 6 months) out of the year in warmer climates, typically during the harsh winter months. They may rent or, more often, own a property, such as a vacation home, to stay in. Why Are Snowbirds Leaving the U.S.? For decades, Canadian snowbirds have flocked to the United States to escape the winter months and have become the largest group of foreign investors in U.S. real estate. Approximately 1 million Canadians are reported to own vacation properties in the country, with the most in Florida (27%), California (11%), and Arizona (11%). Other popular states include Texas, Hawaii, Louisiana, South Carolina, and New Mexico, reflecting the widespread appeal of warm-weather destinations. The Canadian Snowbird Visa Act was initially proposed in June 2019, allowing snowbirds over the age of 50 to extend their visitation from 182 days (nearly 6 months) to 240 days (8 months) per year. However, this bipartisan bill has yet to be passed by the American Congress. Meanwhile, Canadians and foreign visitors to the United States had to wait for the proposed Trump administration’s travel policy, which was officially enacted on April 11, 2025. While Canadian nonimmigrants may be exempted from registering their fingerprints at the border, they must still report to the United States Citizenship and Immigration Services (USCIS) if their intended visit is over 30 days, under this new policy. The antagonism around the visa policy, combined with increasing scrutiny and bureaucratic hurdles, has made long-term planning uncertain for many retirees. Beyond visa hurdles, the Canada-U.S. tax treaty that helped avoid double taxation for many snowbirds may not be enough incentive for them to invest, as the ongoing tariff war raises questions about the long-term viability of U.S. real estate. The political climate has even worsened with controversial rhetoric, including suggestions of America annexing Canada, which has offended many Canadians and further chilled cross-border sentiment. Unsurprisingly, more and more snowbirds are opting to sell their American properties to fly back home or invest elsewhere. This trend is now visibly disrupting real estate markets in snowbird-heavy regions like Florida and Arizona, which are experiencing a sharp increase in home listings from Canadian owners. Where Will Snowbirds Venture Next?

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    What Every First-Time Home Buyer Should Know

    ByStan S.

    The Recipe You Need to Succeed Attend our seminar where we’ll give you real answers, home-buying strategies, and a recipe for success proven by our clients. We will provide you with a step-by-step guide with everything you need to know when it comes to buying your first home. Even if you are not a first-time buyer, all buyers are welcome! Our First-Time Home Buyer Seminar will offer you the perfect roadmap for your buying journey, where you can expect: In-depth insight into market trends A comprehensive understanding of the buying process, including where to start Clarity on what you can afford and how to prepare your finances At the end of the seminar, you will also connect one-on-one with our award-winning agents. With your dedicated guide, you can ask all your questions and receive valuable tips that reflect your unique circumstances. Whether you are looking to buy a pre-construction or a resale property, our GTA-Homes agents are prepared to walk with you while connecting you with other reliable real estate professionals you will need to have on your team. Decision to Rent or Buy Although buying a home may seem out of reach, most renters don’t realize how much money they’re actually spending each year on someone else’s mortgage and profit. Owning a home almost always comes out ahead because your monthly rental payments could have been helping you build equity in your own home instead! It also helps to factor in tax benefits, property appreciation, and other incentives when you buy. Let’s compare the numbers to give you a clear picture. If you are currently renting at $2,500 per month, plus about $130 in utilities, you’re paying $2,630 monthly or $31,560 a year. This money will only cover your cost of living and won’t do much else for you. It primarily goes toward paying off your landlord’s mortgage. Now let’s look at the monthly carrying costs of owning your own home. Let’s say you purchased a $500,000 home with a 20% down payment to avoid additional mortgage insurance fees and took on a fixed 30-year mortgage at 4% interest. Your monthly payments will need to include your mortgage payments, property taxes (1% of the property’s value annually), home insurance, and utilities.

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    The Truth About Real Estate in the News

    ByStan S.

    Myth #2: Put Less Than 20% Down So Banks Will Give You Better Rates Some mortgage brokers and lenders have perpetrated an enormous lie. They have suggested that if buyers purposefully use a smaller-than-average down payment and pay for CMHC mortgage insurance (which is mandatory for down payments under 20%), banks will perceive these loans as “safer” and offer these buyers a much lower interest rate on larger loan-to-value ratios. This is wrong. Banks are not solely looking at down payment sizes to determine the lending rate they will offer you. They look at your income, credit history, and debt-to-income ratio, getting a comprehensive view of your financial status and ability to repay your loan over time. Any “risk” they face of you being unable to pay your loan is offset by the home value itself, not by CMHC insurance. If you don’t pay your mortgage, they have the right to sell your property under a power of sale and recoup their losses. In this way, the bank is always protected from default risk. If you do not need to pay for CMHC insurance, avoid it because it will add to your monthly costs and provide no additional benefit to you. You can do the math: if you were to put less than 20% down, you would have to pay CMCH insurance, which ranges from 0.60% to 4.5% plus tax, which adds thousands of dollars to your housing costs. The only reason someone would push you to put less than 20% down when you have the funds to put 20% down is that they are getting some sort of benefit from it, not you. Mortgage brokers are paid based on the loan size you sign up for, so if you request a 90% loan instead of an 80% loan on a $500,000 property, they will get paid more. The lender, too, will gain more over time as you pay them more interest on your larger loan. Despite this misinformation controversy, the CMHC does offer a great program to help buyers who have less than a 20% down payment break into the market earlier. However, you should use it with a full understanding of the long-term costs. Ultimately, if you have more money to put down, you should definitely do it instead of paying extra fees like CMHC insurance. However, there is one important exception to note. You can get lower rates for investing in multifamily homes (with 5 units or more) that are insured by the CMHC. Typically, for buildings with more than 5 units, you would need a commercial mortgage and a larger down payment, like 25% down, but the CMHC offers preferred rates for eligible multifamily home projects. One specific program, the CMHC MLI Select Program, allows you to receive a lower interest rate than regular residential and commercial rates with less money down while still giving you the power of leverage. This program is available to help build the type of multifamily housing Canada needs the most: affordable rentals, student housing, and retirement housing. The CMHC MLI Select Program allows you to invest in multifamily buildings with only 5% down and offers extended amortizations for up to 50 years and reduced interest rates.

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    5 Ways to Protect your Portfolio from Lifes Curveballs

    ByStan S.

    Your returns are strong. Your portfolio is growing. But one unexpected event can wipe it all out. Let’s talk about the blind spot in most investors’ strategies: insurance. Smart investors obsess over returns. Smarter ones protect what they’ve built. Whether it’s a fire in your rental property, a lawsuit from a tenant, or a medical emergency that halts your income—insurance is the safety net that keeps your portfolio standing when life hits hard. This isn’t about selling you policies. It’s about showing you how to build financial resilience. 🛑 What’s at Risk? Without proper coverage: Your rental income can vanish overnight. A lawsuit can drag your personal assets into the mess. A disability can halt your ability to invest—or worse, force you to sell. If you don’t have the right policies in place, you’re self-insuring with your net worth. 1. Landlord Insurance If you own rental property, this is table stakes.✔ Covers property damage, liability, and loss of rental income.✔ Mandatory if you rely on cash flow.✔ Available from every major insurer in Canada: TD, Intact, Sonnet, Zensurance. 2. Umbrella Insurance This is liability insurance on steroids.✔ Kicks in when your basic home or auto policy taps out.✔ Covers lawsuits that go beyond your standard limits.✔ Useful if you’ve got tenants, joint ventures, or deep pockets. 3. Disability & Life Insurance Think of this as income protection.✔ If you die or can’t work, your investments (and dependents) don’t have to pay the price.✔ Disability policies replace monthly income. Life insurance provides liquidity for debt, taxes, or estate needs.✔ Available from every major Canadian carrier: Sun Life, Canada Life, RBC, Manulife. 4. Builder’s Risk Insurance Doing a flip, renovation, or new build? You need this.✔ Covers construction materials and property under development.✔ Protects against fire, theft, vandalism, and more.✔ Often required for financing. 5. Private Placement Life Insurance (PPLI) High-net-worth move.✔ Invest inside an insurance wrapper.✔ Grow capital tax-deferred.✔ Pass wealth efficiently.✔ Niche product—requires scale and the right setup. 🔁 Put It Into Practice Insurance isn’t “set it and forget it.”Your financial life changes. Your coverage should, too. Here’s how to stay on top of it: ✅ Review Annually Got a new property? New partner? Big renovation? You need to revisit your coverage. Set a calendar reminder. Do it like clockwork. ✅ Work with Specialists Generalist brokers won’t cut it. Look for professionals who understand investors, not just homeowners. ✅ Think in Layers Don’t rely on one policy. Layer coverage like you’d diversify assets. If one fails, the others catch you. Bottom Line Offence builds wealth. Defence keeps it. Ignore insurance, and you’re playing Russian roulette with your portfolio. The most boring line item on your spreadsheet might be the reason you stay in the game when things go sideways. It’s not about fear.It’s about being smart.And in this market, smart wins.

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    Buying with 5% Down: What You Gain (and What You Give Up)

    ByStan S.

    You’ve got two choices: Save for years to hit 20% down. Buy with 5% down and get in the market now. Both come with baggage. One delays your wealth. The other costs more to build it. If you’re staring down today’s home prices thinking “I’ll never save enough”—you’re not alone. But before you jump into a 5% down mortgage, understand this: Getting in early isn’t free. It just feels like it. Let’s break down exactly how low-down payment mortgages work, where they help, and where they bite you. ⚙️ The Mechanics: How 5% Down Works in Canada Here’s what CMHC and the other insurers allow: Under $500,000? Minimum 5% down. $500K to $999K? 5% on the first $500K + 10% on the rest. Up to $1.5 million? As of December 15, 2024, you can now qualify for an insured mortgage—with the same down payment structure: 5% on the first $500K and 10% on the portion between $500K and $1.5 million. This new $1.5M cap opens the door for more buyers in high-cost markets to enter the game with a smaller upfront investment. And if you put down less than 20%, you’re taking on default insurance—a premium tacked onto your mortgage. That cost? Between 2.8% and 4% of the loan, depending on your down payment. And yes, it’s usually rolled in, which means you pay interest on the insurance too. ✅ What You Gain by Putting Down Less 1. Faster Market Access Waiting to save 20% while home prices climb is like trying to fill a leaky bucket. A 5% down payment gets you in the game now, not 3 years from now when prices are higher and you’re still behind. 2. Insured Mortgage = Lower Rates Lenders love insured mortgages. The risk’s off their books. That means they’ll often give you better interest rates than someone with 20% down and no insurance. 3. Optionality Buying with 5% down doesn’t lock up your liquidity. You keep cash in the bank. And if life happens—job change, relationship shift, whatever—you’re not deep underwater. ❌ What You Sacrifice (and It’s Not Small) 1. Higher Monthly Payments You’re borrowing more. And adding insurance to your loan. That’s a double whammy. The monthly hit is higher—no way around it. 2. More Interest Over Time Bigger mortgage = more interest. Even if your rate is sharper, the total interest paid is higher because your loan balance is bloated. 3. Slower Equity Buildup In the first few years, you’re barely touching principal. Most of your payment feeds the bank. Add that to the higher balance and you’re building wealth at a crawl. 4. Less Refinance Flexibility Insured mortgages restrict your options. Want to pull equity out later? Refinance with a different lender? Good luck. Your flexibility is capped unless you re-qualify and re-insure (if even allowed). 📈 The Power of Leverage: Turning 5% into 20% With 5% down, you’re getting 20x leverage on your money. That means for every 1% the property value increases, you get a 20% return on your initial investment. Let’s break it down: Purchase Price: $300,000 Down Payment (5%): $15,000 If the property value rises 1% to $303,000, that’s a $3,000 gain. Return on your $15,000 down payment? 20% ($3,000 ÷ $15,000) This is one of the reasons homeownership often outpaces renting in the long run. Even modest price increases can significantly boost your equity when you’re highly leveraged. Think about it: If you had to save 100% of the cash to buy the property, do you realistically believe you would ever be able to own a home? Depending on market conditions, the longer you wait, the more ground you could lose. Most people think mortgage default insurance only protects the lender. But it can also protect you. Some insurers offer support programs to help homeowners through temporary financial troubles—like a job loss, illness, divorce, or natural disaster. These programs typically work by: Offering payment deferrals during a tough period Extending amortization periods to lower payments Setting up shared payment plans (where the insurer covers part of the mortgage payment) Adding missed payments to the loan balance (capitalizing arrears) Restructuring mortgage terms to fit a new financial reality For example, Sagen’s Homeowner Assistance Program (HOAP) has helped over 63,000 Canadian families avoid losing their homes, with a success rate of over 90% . Knowing that your default insurance can act as a safety net if unexpected hardships arise can provide extra peace of mind. 🎯 The Real Question Do you want in now—knowing the trade-offs—or do you want to wait, save more, and potentially miss out? There’s no right answer. If your income is stable, you’re staying put for 5+ years, and you’ve stress-tested your budget? 5% down might be a smart move. But if you’re stretching, or banking on appreciation to bail you out? Be careful. A hot market can cool. And higher payments don’t feel so hot when rates jump or life gets messy. Final Take Buying with 5% down is like using a credit card to grab a seat at the wealth table. You’ll pay for it—but you’ll own something. It’s not free. It’s not cheap. But it might be smarter than waiting—depending on your market, your goals, and your risk tolerance. So don’t ask, “Can I buy with 5%?” Ask: “What will it cost me if I don’t?” Then run the numbers. Talk to a real mortgage strategist. And make