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(NC) If you’re shopping for a new home, you owe it to yourself to understand what illegal building is and how you can avoid its potentially devastating consequences. With very few exceptions, anyone who wants to build and sell a new home in Ontario needs to be registered with Tarion and enroll the property in the province’s new home warranty program. Builders who are not registered are usually operating illegally, and they can harm buyers in different ways:

Canadian home sales rise again in May 2019

in real-estate

Jun 17, 2019

Home sales recorded via Canadian MLS® Systems rose by 1.9% in May 2019. Together with monthly gains in March and April, activity in May reached the highest level since January 2018. While sales stood 8.9% above the six-year low reached in February 2019, this latest increase has only just returned levels to their historical average. While May sales were only up in half of all local markets, that list included almost all large markets, led by gains in both the Greater Vancouver (GVA) and Greater Toronto (GTA) areas.

Buying pre-construction? Your deposit is protected

in pre-construction

Jun 16, 2019

(NC) Is this the year you plan to take that bold leap and buy a new-build house or condominium unit? Prices on new homes have gone up in recent years, and so have deposits. But there are two pieces of good news. The first is that your deposit is protected by Tarion, the company that administers Ontario’s new home warranty program. The second is that coverage was increased and expanded in 2018 to provide buyers with even more protection.

Buying a new home? What to know about asbestos

in home

Jun 12, 2019

(NC) After long months of searching, you’ve finally found your dream home. Everything seems perfect – the neighbourhood, number of bedrooms and especially the price. But could your dream home contain asbestos? Asbestos was used to make products strong, long-lasting and fire-resistant, but its production and use have declined since the 1970s. There are no significant health risks if materials containing asbestos are tightly bound in products and are in good condition, sealed behind walls and floorboards, or isolated in an attic and left undisturbed.

Save on energy use with these easy tips

in lifestyle

Jun 8, 2019

(NC) With the air conditioner running on full blast, summertime energy bills can quickly add up. Fortunately, there are many ways to save on those kilowatts – from simple life hacks to energy-efficient renovations and upgrades for your home. Here are a few you could benefit from: Install a skylight. A skylight is a surprisingly affordable and beneficial addition to any room in your home. In the summer, you can open your Velux programmable venting skylight to allow hot air, odours and toxins to escape, reducing your need for air conditioning.

Buying a new home? Beware of mortgage fraud

in mortgage

Jun 4, 2019

(NC) Purchasing a new home is a big milestone that’s typically full of happy moments – from picking out new furniture and décor to discovering all the interesting spots in your new neighbourhood. But this is also a time when homebuyers can be susceptible to mortgage fraud. According to a recent survey conducted for Chartered Professional Accountants of Canada (CPA Canada), only 35 per cent of people are aware of the dangers posed by mortgage fraud.

Bank of Canada maintains rate - 05/29/19

in mortgage

May 29, 2019

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. Recent Canadian economic data are in line with the projections in the Bank’s April Monetary Policy Report (MPR), with accumulating evidence that the slowdown in late 2018 and early 2019 is being followed by a pickup starting in the second quarter.

Sold a home? Know your tax obligations

in mortgage

Mar 27, 2019

(NC) If you’ve recently sold a home, there are some things you need to know at this time of year. When you sell your own home (or principal residence) you usually don’t have to pay tax on any profit from the sale. But what you might not know is that even if you are entitled to the principal residence exemption, you need to report the sale on your income tax and benefit return.

Federal Budget 2019

in mortgage

Mar 22, 2019

To help make homeownership more affordable for first-time home buyers, Budget 2019 introduces the First-Time Home Buyer Incentive. The Incentive would allow eligible first-time home buyers who have the minimum down payment for an insured mortgage to apply to finance a portion of their home purchase through a shared equity mortgage with Canada Mortgage and Housing Corporation (CMHC). It is expected that approximately 100,000 first-time home buyers would be able to benefit from the Incentive over the next three years.

Bank of Canada maintains rate - 03/06/19

in mortgage

Mar 6, 2019

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. Recent data suggest that the slowdown in the global economy has been more pronounced and widespread than the Bank had forecast in its January Monetary Policy Report (MPR). While the sources of moderation appear to be multiple, trade tensions and uncertainty are weighing heavily on confidence and economic activity.

Natasha Rogano

How to avoid becoming a victim of illegal building

Canadian home sales rise again in May 2019

Buying pre-construction? Your deposit is protected

Buying a new home? What to know about asbestos

Save on energy use with these easy tips

Buying a new home? Beware of mortgage fraud

Bank of Canada maintains rate - 05/29/19

Sold a home? Know your tax obligations

Federal Budget 2019

Bank of Canada maintains rate - 03/06/19

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