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City of Ottawa Vacant Unit Tax or VUT - Everything you need to know

The City of Ottawa is putting in place the VUT (Vacant unit Tax). The Ottawa vacant home tax will take effect in January 2023 and will be applicable to non-principal residences that were vacant in 2022 for at least 184 days. This tax is intended to encourage owners to maintain, occupy, or rent their homes in order to enhance the supply of available housing.

The vacant unit tax, or VUT, in Ottawa can be significant. If your non-primary dwelling is vacant for more than 184 days in a calendar year and...

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Programs for First-Time Homebuyers

Every homeowner has bought their first home at some point. Unfortunately, it's never been more difficult to start out on the housing ladder because of today's high prices and rising rates. Fortunately, there are several first-time homebuyer programs in Canada that are designed to make the process simpler.

As a first-time home buyer, it's a good idea to be aware of any programs that might be relevant to your circumstances, including rebates, tax advantages, methods of funding your down payment, and...

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3 Investing Mistakes You Don’t Want To Make In 2023

For real estate investors around the nation, 2022 was a rough year due to soaring interest rates, market declines, rising rental demand, and everything else in between. Anyone's brain would have spun from the situation.

However, since it's a new year, you're making fresh resolutions for your real estate investing in 2023. While you may be concentrating on what you'll do to effectively advance your real estate investment strategy into 2023, now is a wonderful moment to look closely at what not to do....

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What Does Refinancing Your Mortgage Mean?

Oh my, qualifying, renewing, and refinancing! Mortgages may seem like a riddle. Fortunately, things aren't always as difficult as they seem. If you're feeling overwhelmed, you have a lot of tools at your disposal, such as the advice of your REALTOR®.

Let's look closely at the mortgage refinancing process, including what it involves, when it happens, and why it happens.

What exactly is refinancing?

To put it simply, when you refinance a mortgage, you end the old loan agreement and start a new one....

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Zak’s Diner is opening a new location... Guess where?!

Zak’s Diner is opening a new location... Guess where?!

The fifth restaurant site of Ottawa's "locally world-famous" Zak's Diner will open in the hip Westboro neighbourhood. Early February 2023 will see the opening of this well-liked Ottawa diner and brunch place at what was formerly The Savoy Brasserie.

Zak's Diner loves this neighbourhood, and it is close to their hearts; they adore the neighbourhood.

In 2013, the owners of Zak's opened and owned The Savoy. It has a beautiful interior and has...

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What changes in interest rates can homeowners experience?

If you own a home and have recently glanced at the headlines, it's likely that you've considered what an increase in interest rates may entail for your mortgage.

The number of headlines about rising interest rates and increasing inflation is increasing. The Bank of Canada raised benchmark rates as inflation reached historical highs to help prevent high inflation from becoming entrenched. The benchmark rate set by the Bank of Canada also serves as a baseline for the interest rates that financial i...

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How your finances might be affected by the most recent Bank of Canada interest rate increase

The Bank of Canada stated on January 25 that its overnight lending rate would increase by 0.25% to 4.50%. In light of the most recent disclosure, Economists examine the effects of rising interest rates on inflation, mortgages, and the outlook for the coming year.

The hot subjects of 2022 were rising inflation, interest rate hikes, and rumours of an imminent recession. Some of these themes seem likely to persist in 2023.

The Bank of Canada began boosting its overnight lending rate in March...

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We wish to downsize since we are retired. Where do we start?

It's a significant decision to downsize. There are steps you can take to help ensure that you are satisfied with your real estate transactions—selling your present house and buying a new one—as you relocate from your current home to a smaller one that is more fit for your lifestyle and needs.

Think about the features you'd like in a new house. Do you host a lot of events? Do you frequently receive out-of-town visitors? Do you prefer a low-maintenance lifestyle? Do you enjoy gardening?...

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Downtown Ottawa entrepreneurs want to rename the sector "SoPa or "South of Parliament"."

Are you familiar with SoPa? 

In an effort to generate buzz, local business owners and restaurateurs have come up with a creative name for the region just south of Parliament Hill.

"Triangle Below Canal Street" is what gives Tribeca its name. "South of Houston Street" is what gives SoHo its name. In Ottawa, the area south of Parliament will be known as SoPa

The purpose of SoPa is to make the downtown Ottawa entertainment sector more noticeable.

The name is part of a branding strategy that business...

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What factors should I think about while purchasing or selling a house?

A real estate purchase involves a significant financial investment, so many details must be carefully considered to make sure everything goes smoothly and successfully.

Here is a list of advice to get you started if you are looking to undertake either of these things:

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