Tag: homeownership
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Rent-to-Own Programs in Canada: What’s Legit & What’s Sketchy (2025 Guide)
As housing affordability continues to challenge Canadians, rent‑to‑own homes Canada arrangements have gained popularity, especially for first‑time buyer help Canada. These programs promise a pathway to ownership without the hefty upfront down payments. But how do they actually work in 2025, and which options are legitimate versus risky? ✅ How Rent-to-Own Works in Canada Typically structured as…
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Toronto Proposes Down Payment Assistance for High Earners in the 80th Income Percentile
Toronto is considering a new housing initiative that could help higher-income earners in the 80th percentile of incomes buy homes by providing down payment assistance. This program aims to make homeownership more attainable for residents who earn between $125,000 and $150,000 annually but still struggle to afford homes in the city’s competitive market. If implemented,…
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Here’s how long you need to save to afford a home in Ontario
As home prices continue to soar across Ontario, the prospect of homeownership becomes increasingly elusive for young renters. Despite a strong desire to own a home, many face daunting timelines—spanning years or even decades—before they can save enough for a down payment. A new study by real estate marketplace Point2Homes highlights this challenge, revealing that…
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Canadian government announces boldest mortgage reforms in decades and here is everything you need to know
The Department of Finance Canada has rolled out some big changes to mortgage rules, aiming to make it easier for Canadians, especially Millennials and Gen Z, to buy their first home. Starting August 1, 2024, new mortgage regulations now allow 30-year insured mortgage amortizations for first-time buyers purchasing new builds. Key Mortgage Reforms You Should…
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Buying vs. Renting in Ontario: What Makes More Financial Sense in 2024?
As Ontario’s real estate market continues to evolve, the age-old question of whether to buy or rent has never been more relevant. With property prices fluctuating and interest rates affecting mortgage affordability, the decision between buying and renting can have significant financial implications. To help navigate this complex decision, we’ve gathered insights from financial planners…
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Canada’s Most Affordable Cities in 2024
As housing affordability continues to be a major concern in Canada, many are looking for cities where they can buy a home without breaking the bank. Based on a Royal LePage report, here are the most affordable cities in Canada for 2024, listed with their key affordability metrics. 1. Thunder Bay, Ontario Aggregate Price Q1…
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Canada to allow 30-year amortization for first-time buyers’ mortgages on new homes
In a move celebrated by housing advocates, the Canadian federal government has announced an extension of the amortization period for insured mortgages targeted at first-time homebuyers. This policy adjustment, declared by Finance Minister Chrystia Freeland in Toronto, aims to make homeownership more accessible amid escalating property prices and rents. Key Changes to Amortization Rules Starting…
Canada Housing Market 