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Asking the right questions is critical when buying real estate

Failing to ask the right questions can set new home buyers up for disappointment. Every home has it strengths, weaknesses and quirks, so it is a good idea for buyers in Ontario to clarify what issues may exist before finalizing a real estate purchase. Here are a few questions worth asking when walking through a home.

Survey lends insight into Baby Boomer real estate preferences

As Baby Boomers get closer to retirement, many assume that a mass of people across the country will be looking to downsize. However, a recent survey of this demographic suggests that not all are looking at selling their homes just yet. Despite the fact that many Boomers in Ontario and throughout Canada may not be ready to downsize in the near future, the group is still set to make an impact on the real estate market, and 17 percent expect to buy or sell property in the next five years. This equals 1.4 million people across the country.

Failure to disclose often the source of real estate lawsuits

One of the most common reasons for legal trouble in a real estate deal is disclosure. Disclosure-related lawsuits tend to emerge when a purchaser discovers something negative about a home after moving in which should have been revealed under Ontario real estate law. The defendants in these suits may be inspectors, real estate agents or the former owner(s) of a property.

Is real estate investing a good idea?

Many believe that real estate is a secure way for wealthier individuals to invest their money. In recent years, Canadians have seen high returns on property investments close to urban areas, particularly Toronto and Vancouver. However, there are a few things would-be investors should know before dipping their toes into Ontario real estate.

Real estate market in Ottawa healthy thanks to condo sales

It is not uncommon to hear many conflicting opinions about the health of the real estate market in a given region. However, the Ottawa Real Estate Board recently released numbers that may settle these debates, noting that the real estate market in the region is healthy. Condo unit sales were the main source of the area's viability in the first half of 2018, with a 16.8 percent increase compared to 2017. 

Real estate agents say buyers should know more about home's past

When purchasing a new home, the history of that home can influence its value and future renovation needs. Ontario real estate agents are raising concerns about their clients buying homes that are former marijuana grow-ops. They say that following legalization of pot across Canada, the lack of regulations protecting homebuyers from buying former grow-ops may be an increasing problem.

How to pick a real estate salesperson to help sell your home

Many people talk about the challenges of buying a home for the first time, but what about selling a home? Many Ontario sellers are faced with changing real estate laws, a shifting marketplace and a lack of information about selling when they first put their home on the market. Here are some tips that can make the process less overwhelming for prospective sellers.

Fewer listings, higher prices in Ottawa's real estate market

When there are significantly more prospective real estate buyers than sellers or vice versa, things can get competitive in any market. This appears to be the situation in Ottawa's real estate market, where there was a 21 percent decrease in residential properties for sale in Feb. 2018 compared to Feb. 2017. This is resulting in more real estate bidding wars in the city than in years prior, leading to some properties selling significantly over asking price.

Residential real estate bids winning over commercial in Toronto

The availability of land and construction costs can be a challenge for developers in Ontario, especially in high-density cities. In Toronto, recent reporting suggests that condominium builders may have an advantage compared to other types of developers. According to real estate consulting group Altus Group Ltd, those building residential units have an advantage because of how much people will pay for space. 

Plans in the works for valuable real estate at LeBreton Flats

In Ottawa, discussions over the fate of LeBreton Flats have been a much-discussed news issue. The valuable real estate plot in the core of the Ontario city has long been considered as a potential home for a hockey arena. A former mayor of Ottawa has said that he believes the arena will be built, but that residents may remain skeptical until they actually see the project start and finish.

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