Real Estate Tips, tricks, And resources

Ottawa real estate blog


3 Must-Know Tips for Home Sellers in 2023

3 Must-Know Tips for Home Sellers in 2023

Selling your home can be a daunting task, especially in today's real estate market. With so much competition, it's important to make sure your home stands out from the rest. But where do you start? Don't worry, we've got you covered. Here are 3 must-know tips for home sellers in 2023 that will help you sell your home quickly and for the best possible price.

  1. Virtual Staging is on the Rise

Gone are the days of hiring a professional stager and renting furniture...


Ottawa Real Estate: How Your Property Tax is Calculated and What You Need to Know

Ottawa Real Estate: How Your Property Tax is Calculated and What You Need to Know

As a homeowner in Ottawa, understanding how property taxes are calculated and managed is crucial to make the most out of your investment. In this blog post, we'll break down the process and provide you with the information you need to know about property taxes in Ottawa.

Property Taxes in Ottawa:

Property taxes in Ottawa are calculated based on the assessed value of your property and the current tax rate. The assessed...


What if you missed the City of Ottawa Vacant Unit Tax Declaration Deadline?

What if you missed the City of Ottawa Vacant Unit Tax Declaration Deadline?

A new tax that targets unoccupied residential properties had its first significant deadline on Thursday, March 16, 2023.

The City of Ottawa had received 311,000, or nearly 96%, of the total required submissions on Thursday morning, the first hard deadline.

The implementation of the vacant unit tax (VUT) is intended to deter homeowners from leaving their properties unoccupied in the midst of a housing crisis and to generate...


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...


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...


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...


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:


How much does it cost to sell my home?

Question: What’s the true cost of selling a home
Answer: Usually 7-10% of the sale price.

Here’s a DETAILED breakdown (with 2022 data):

- Agent commissions: 5% of the sale price + applicable taxes (HST), split between the listing and buyer agents.

- Lawyer fees, land transfer taxes, and other administrative costs: 1-2% of the sale price.

- Home repairs and inspection requests: $100-10,000. The most common repair on a home inspection report? Sticky doors that need adjusting. The second?...


Resolutions for Buying and Selling in the New Year

Resolutions for buying and selling in the new year.

To begin with, Happy New Year! I hope you spent the holiday season with loved ones in safety and delight (and great food).Many of you have already set some New Year's resolutions as we approach 2023 and a new beginning.

Here are a few more goals you might want to add to your list if you're thinking about buying or selling a house in 2023.

1. Before choosing a real estate agent, I will interview several.

Real estate transactions may be expensive,...


How can a cooling market affect you?

What are the effects of a slowing real estate market on buyers and sellers?

A large portion of Ontario's residential real estate market has been cooled by a number of reasons, including higher interest rates, increasing inflation, and rising cost of living.

Recent reports from financial institutions indicate that rising interest rates are increasing the stress test mortgage qualification rate. The stress test, a computation used by lenders to determine whether a buyer can qualify for a specific mortgage,...

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