Introduction: A Positive Shift in the Ontario Housing Market

The Ontario housing market is witnessing a significant transformation in 2025, bringing welcome relief to buyers. Thanks to lower mortgage rates and stable home prices, affordability is finally improving across the province. For many, this marks a turning point, creating new opportunities for homeownership. In this article, we’ll explore the key trends shaping the market, the impact of recent changes, and what buyers can expect in the coming months.

Key Trends Shaping the Market in 2024 and 2025

Declining Interest Rates

One of the biggest factors influencing the housing market in 2025 is the sharp decline in borrowing costs. The Bank of Canada’s decision to implement significant rate cuts in the latter half of 2024 has had a cascading effect, making mortgages more accessible to prospective buyers. Lower interest rates translate into reduced monthly payments, opening the door for many who were previously priced out of the market.

Stable Home Prices

The average selling price for homes in Ontario in 2024 was $1,117,600, a slight decrease from $1,126,263 in 2023. This stability has been a boon for buyers, especially in a market that has seen significant price fluctuations in recent years. While prices for ground-oriented housing held steady, condominium apartments experienced more pronounced declines, offering excellent opportunities for entry-level buyers.

Increased Inventory

In 2024, new listings surged by 16.4% compared to the previous year, outpacing the 2.6% increase in sales. This rise in inventory has given buyers greater choice and negotiating power, especially in the condominium market. With more options available, buyers can find properties that better suit their needs and budgets.

Insights from Real Estate Experts

Market Dynamics by Housing Type

TRREB’s data reveals notable differences between market segments:

• Single-Family Homes: Sales of detached and semi-detached houses rose in 2024, driven by strong demand from move-up buyers and families.
• Condominium Apartments: This segment saw a decline in sales, largely due to first-time buyers waiting for more substantial rate cuts. As prices for condos have softened, 2025 may present a prime opportunity for entry-level buyers to enter the market.

Economic and Policy Influences

Economic conditions and government policies continue to play a pivotal role in shaping the housing market. In 2024, factors like monetary policy adjustments, infrastructure developments, and urban planning efforts impacted housing trends. As TRREB CEO John DiMichele highlighted, “Government policies on these fronts need to be reviewed in 2025.” Buyers and investors should keep an eye on updates to these policies to better understand their implications.

What Buyers Should Know in 2025

Opportunities in the Condominium Market

With condo prices experiencing notable declines, 2025 is shaping up to be an ideal year for first-time buyers and investors to consider this segment. Lower prices, combined with reduced borrowing costs, create a favorable environment for securing a property in desirable urban locations.

Navigating a Buyer’s Market

The increased supply of homes means buyers have more negotiating power than in previous years. Here are some tips to make the most of the current market conditions:

1. Do Your Research: Understand local market trends and compare prices in your desired area.
2. Work with a Knowledgeable Realtor: An experienced real estate agent can help identify opportunities and negotiate favorable terms.
3. Get Pre-Approved for a Mortgage: Locking in a low rate can provide clarity on your budget and strengthen your negotiating position.

Long-Term Outlook

As interest rates stabilize and affordability improves, the Ontario housing market is expected to see gradual recovery in demand throughout 2025. Buyers who act now may benefit from future price appreciation as the market normalizes.

Conclusion: A Bright Future for Ontario Homebuyers

The Ontario housing market in 2025 offers a unique opportunity for buyers to take advantage of lower interest rates and increased inventory. Whether you’re a first-time buyer looking for a condo or a family seeking a detached home, the current conditions provide the perfect backdrop for making your move. By staying informed and working with experienced professionals, you can navigate the market confidently and secure your dream home.

Ready to start your home-buying journey? Book a free consultation with Realtor Sean Findlay for expert advice, property listings, and personalized assistance tailored to your needs.

The post Ontario Housing Market Gets More Affordable in 2025 with Lower Rates and Prices appeared first on FINDLAY REAL ESTATE.

Selling your home is a significant decision, and having the right resources can make all the difference. With the Century 21 Home Sellers Guide, you’re not just getting advice; you’re gaining the tools and expertise to sell your home smoothly and profitably. This guide breaks down the selling process step by step, helping you prepare for every stage. Let’s dive into how this guide can assist you and why it’s your ultimate companion in the home-selling journey.

What’s My Home Worth?

One of the first questions homeowners ask is, “What’s my home worth?” Understanding your property’s market value is crucial, as it sets the foundation for your entire selling strategy. The Century 21 Home Sellers Guide helps you:

• Evaluate your home’s worth using market trends and comparable properties.
• Understand factors like location, home condition, and unique features that influence value.
• Avoid common mistakes such as overpricing or underpricing.

Working with an experienced real estate agent like Sean Findlay ensures you have accurate data to price your home competitively while maximizing your return.

Should I Use a Seller’s Agent or Go Solo?

Another common question is whether to sell your home independently or use a seller’s agent. While going solo might seem like a way to save money, it often comes with challenges that can cost you in the long run. Here’s why choosing a real estate agent is beneficial:

1. Expert Knowledge: Agents have in-depth market insights and access to tools that help you make informed decisions.
2. Professional Marketing: From listing photos to online promotions, agents know how to showcase your property to attract the right buyers.
3. Negotiation Skills: An agent’s expertise in negotiating can result in a better final sale price.

The Findlay Real Estate Team brings a wealth of experience to the table, ensuring you avoid pitfalls and secure the best deal possible.

How Do I Make My Home Attractive to Buyers?

First impressions matter, and creating a lasting impact on potential buyers can set your home apart. The Home Sellers Guide provides actionable tips for preparing your property, including:

• Declutter and Deep Clean: A tidy, clean space looks more inviting and helps buyers envision themselves living there.
• Stage Your Home: Simple adjustments, such as rearranging furniture and adding fresh decor, can enhance appeal.
• Repair and Refresh: Address minor repairs and consider small upgrades like a fresh coat of paint or updated fixtures to boost value.

Professional photography and virtual tours, provided by your seller’s agent, further enhance your home’s online presence, attracting more serious buyers.

How Do I Get Top Dollar for My Home?

Achieving the highest price for your home requires a strategic approach. The Century 21 Home Sellers Guide outlines the following key steps:

1. Set the Right Price: Avoid the trap of overpricing, which can deter buyers. Instead, aim for a competitive yet realistic price based on market analysis.
2. Market Effectively: Utilize digital platforms, local advertising, and professional networking to reach potential buyers.
3. Host Open Houses: Create opportunities for buyers to experience your home in person. A well-presented open house can leave a lasting impression.
4. Work with Professionals: From inspectors to stagers, the right team can elevate your home’s appeal and help you close the deal quickly.

Sean Findlay and the Century 21 team are committed to helping you implement these strategies, ensuring your sale is both efficient and profitable.

Why Choose The Findlay Real Estate Team?

Selling your home can feel overwhelming, but with the right support, it doesn’t have to be. Realtor Sean Findlay and his experienced team at Century 21 provide:

• Personalized guidance tailored to your unique needs.
• A proven track record of successful sales in your area.
• Unmatched dedication to making your home-selling experience smooth and rewarding.

From the moment you decide to sell, the Findlay Real Estate Team is by your side, offering expert advice and assistance every step of the way.

Download Your Home Sellers Guide Today!

Ready to take the first step in your home-selling journey? The Century 21 Home Sellers Guide is designed to answer your questions, provide actionable tips, and give you the confidence to sell your home successfully. Whether you’re a first-time seller or a seasoned homeowner, this guide is your go-to resource for a seamless sale.

Complete the form below to receive your free Home Sellers Guide directly in your inbox. Let the Findlay Real Estate Team help you achieve your goals and make your home-selling experience stress-free.

Selling your home is a big decision, but with the right guidance and support, it can also be an exciting opportunity. Contact Realtor Sean Findlay today to learn more about how the Century 21 Home Sellers Guide can help you achieve your real estate goals. Start your journey to a successful sale now!

Century 21 Home Sellers Guide

Are you thinking about selling your home soon? Look no further, as our team of experts created our exclusive Century 21 Home Sellers Guide to help make selling your home as stress-free as possible. This roadmap to listing and selling will walk you through what your home may be worth, why using a seller’s agent is so important, and how to get the highest dollar value from potential buyers. If you have any questions or comments, please do not hesitate to contact Realtor Sean Findlay at any time for assistance.

If you’re thinking of selling, you probably have a lot of questions. The Home Sellers Guide tackles questions such as:

• What’s my home worth?
• Should I use a seller’s agent or go at it alone?
• How do I make my home attractive to buyers?
• How do I get top dollar for my home?

Realtor Sean Findlay & the Century 21 Findlay Real Estate Team can help! Selling your home is a journey, and the more informed you are about what to do and expect, the more successful your sale will be. Let your journey with The Findlay Real Estate Team begin!

Download your very own Home Seller’s Guide to begin your journey today!

Please complete the form below to receive the free home sellers guide in your email inbox:

Sean Findlay – Professional Realtor | Sales Representative | Digital Marketing Realtor
Proudly Serving Toronto & GTA | Mississauga, Brampton, Oakville, Burlington, Stoney Creek, Grimsby, Beamsville, Niagara Falls, Scarborough, PickeringCENTURY 21 Millennium Inc., Brokerage *
Office Phone Number: 905-450-8300 or Toll Free: 1-888-450-8301 | Fax: 905-450-6736

Toronto Office Located: 181 Queen St, Brampton ON  (by Appointment Only)

Stoney Creek Office Located: 280 Barton St, Stoney Creek, ON L8E 2K6 (by Appointment Only)

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National Trends

This decline follows significant rent increases in previous years, with growth rates of 8.6% in 2023 and 12.1% in 2022. Over the past five years, rents have risen by a total of 16.8%, averaging an annual increase of approximately 3.15%. The downward trend in 2024 was consistent over the latter part of the year, with December marking the fifth consecutive month of declining rents. Between September and December, average asking rents fell by 3.8%, indicating a steepening decline heading into 2025.

Provincial Overview

• Ontario: The province experienced a 4.7% year-over-year decrease in apartment rents, averaging $2,332 in December 2024. Despite this decline, Ontario remains one of the most expensive provinces for renters. BNN
• British Columbia: Average rents dipped slightly by 0.5% to $2,487, marking the second consecutive year of declines. Nevertheless, B.C. continues to be among the priciest provinces for renters. Mortgage Rates Canada
• Manitoba: The province led in rent growth, with a 5% annual increase bringing the average to $1,618. This consistent rise aligns with the 4.9% increase observed in 2023. BNN

Municipal Highlights

Here are the average rents for one-bedroom and two-bedroom units in select Canadian cities as of December 2024:

Factors Influencing the Market

Several factors contributed to the softening rental market in 2024:

• Increased Supply: A surge in apartment completions reached multi-decade highs, expanding the available rental inventory. BNN
• Slowing Population Growth: A deceleration in population inflows reduced the immediate demand for rental housing. Mortgage Rates Canada
• Economic Challenges: A weakening economy influenced renters’ ability to afford higher rents, contributing to downward pressure on prices. Mortgage Rates Canada

Outlook for 2025

Urbanation President Shaun Hildebrand suggests that while rents may experience further decreases in early 2025, these declines are expected to be temporary and minimal. The long-term under-supply of rental units in Canada is likely to exert upward pressure on rents in the coming years, especially as the current slowdown in construction may restrict future supply.

In conclusion, the Canadian rental market in 2024 saw a reversal of the upward trend in rents observed in previous years. While the recent declines offer some relief to renters, underlying supply constraints suggest that this trend may not persist in the long term. Stakeholders should monitor these dynamics closely as they plan for the future.

Get in Touch

If you have any questions, comments, or need help renting your home, or finding a rental home in Toronto, Hamilton or GTA, please contact Sean Findlay, Realtor at 1-888-450-8301 or click here to schedule a call.

The post Canada Rent Report for January 2025 appeared first on FINDLAY REAL ESTATE.

How much do first-time home buyers have to put down in Ontario?

The post Ontario First Time Home Buyers Program 2025 appeared first on FINDLAY REAL ESTATE.

Rising energy and construction costs are placing a significant burden on families and individuals across the Greater Toronto Area (GTA). To address these challenges, the Government of Ontario, led by Energy and Electrification Minister Stephen Lecce, is launching the Home Renovation Savings Program on January 28, 2025. This forward-thinking initiative is designed to help homeowners lower energy bills and promote energy efficiency across the province.

Why Homeowners Should Take Advantage

1. Reduced Energy Costs: Affordable upgrades can lead to significant monthly utility bill savings, adding up to thousands over time.
2. Increased Property Value: Energy-efficient homes attract buyers and can command higher resale values.
3. Sustainability: The program supports environmentally friendly living by encouraging green technology adoption and reducing carbon footprints.
4. Improved Housing Affordability: Lower energy expenses help families manage the high costs of living in the GTA.

The Bigger Picture

The Home Renovation Savings Program exemplifies Ontario’s commitment to creating a sustainable future while alleviating financial pressures on residents. By making energy-efficient renovations more accessible, the initiative empowers homeowners to enhance their living spaces sustainably and affordably. It’s a win-win for families and the environment.

This program also aligns with the Toronto Regional Real Estate Board’s (TRREB) mission to support policies that empower homeowners. Rather than mandating costly energy upgrades, this incentive-driven approach allows individuals to make informed and eco-friendly choices.

Eligible Projects for Rebates

Part of Ontario’s $10.9 billion investment in energy efficiency, the Home Renovation Savings Program offers rebates of up to 30% for various home renovation projects.

Homeowners can claim rebates on a variety of energy-efficient upgrades, including:

• Windows and Doors: Enhance insulation and reduce heating or cooling loss.
• Insulation: Keep your home comfortable year-round while cutting energy costs.
• Smart Thermostats: Optimize heating and cooling systems for maximum efficiency.
• Heat Pumps: Transition to a sustainable heating and cooling solution.
• Rooftop Solar Panels: Harness renewable energy to power your home.
• Battery Storage Systems: Store excess energy and reduce reliance on the grid.

Later in 2025, the program will expand to include energy-efficient appliances such as refrigerators and freezers, offering even more opportunities for homeowners to save on utility bills.

How This Program Benefits Homeowners

1. Lower Energy Costs: By making energy-efficient upgrades more affordable, homeowners can significantly reduce their monthly utility bills. Over time, these savings can add up to thousands of dollars.
2. Increased Property Value: Energy-efficient homes are highly attractive to buyers. Upgrades such as solar panels, insulation, and smart systems can boost your home’s market value.
3. Sustainability: This program supports environmentally conscious living by encouraging the adoption of green technologies, reducing carbon footprints, and promoting renewable energy.
4. Housing Affordability: Lower energy bills contribute to overall affordability, especially for families and individuals balancing high living costs in the GTA.

Why This Program Matters

The Home Renovation Savings Program reflects Ontario’s commitment to a greener future while addressing the financial challenges faced by its residents. By reducing the upfront costs of energy-efficient renovations, the program ensures that homeowners can take meaningful steps toward sustainability without feeling the strain of large financial investments. It’s a win-win for families and the environment.

Furthermore, the program aligns with the Toronto Regional Real Estate Board’s (TRREB) advocacy for policies that benefit homeowners. Instead of imposing mandatory energy requirements, this initiative relies on incentives, empowering homeowners to make informed and environmentally friendly decisions.

How to Get Started

1. Assess Your Home’s Needs: Identify areas in your home that could benefit from energy-efficient upgrades, such as older windows or outdated HVAC systems.
2. Explore Eligible Upgrades: Research the specific projects covered under the program and determine which ones align with your goals.
3. Apply for Rebates: Visit the official program website (details to be announced) to learn about application requirements and timelines.
4. Partner with Professionals: Work with licensed contractors and suppliers to ensure your upgrades meet program criteria and maximize your rebate potential.

Conclusion

The Home Renovation Savings Program is a groundbreaking initiative that delivers financial relief, enhances property values, and promotes sustainability. It’s an opportunity for homeowners to invest in their homes while contributing to Ontario’s greener future.

Ready to make energy-efficient upgrades to your home? Stay tuned for more details on the program’s rollout and visit Findlay Real Estate for expert advice on how these renovations can impact your property’s value in today’s competitive market.

Questions?

Contact Realtor Sean Findlay at sean.findlay@century21.ca or call 1-888-450-8301

The post Ontario’s Home Renovation Savings Program: A Win for Homeowners and Energy Efficiency appeared first on FINDLAY REAL ESTATE.

This article provides an overview of the CMHC MLI Select Program, including its benefits, eligibility requirements, and how it works.

What is the CMHC MLI Select Program?

The CMHC MLI Select (Multi-Unit Mortgage Loan Insurance) Program focuses on multi-unit residential properties, such as apartment buildings. Its goal is to improve housing affordability and sustainability by rewarding projects that incorporate features like energy efficiency, accessibility, and affordability into their design or renovation plans.

Through this program, CMHC offers more favorable loan insurance terms, making it easier for property owners to finance projects that align with these priorities.

Key Benefits of the CMHC MLI Select Program

1. Preferred Financing Terms:
   Borrowers may qualify for higher loan amounts, longer amortization periods, and reduced interest rates based on the program’s scoring system.
2. Support for Sustainable Housing:
   Projects that include energy-efficient upgrades or meet environmental sustainability standards are incentivized through the program.
3. Promotion of Affordable Rent:
   Properties with a focus on providing affordable rental units can receive additional benefits, making it easier for property owners to maintain or develop low-cost housing.
4. Encouragement of Accessibility:
   Projects that include features to improve accessibility for individuals with disabilities receive higher scores, aligning with CMHC’s commitment to inclusive housing.

How the CMHC MLI Select Program Works

The MLI Select Program uses a scoring system to evaluate projects based on three pillars:

1. Affordability:
   Points are awarded based on the percentage of units offered at below-market rental rates.
2. Accessibility:
   Projects that integrate accessible units or enhance building accessibility can earn additional points.
3. Energy Efficiency:
   Higher scores are given to projects that include energy-saving measures or meet sustainability certifications.

The combined score determines the level of benefits a borrower can access, such as extended amortization periods (up to 50 years) or increased loan amounts.

Eligibility for the CMHC MLI Select Program

To qualify for the CMHC MLI Select Program, your project must:

• Be a multi-unit residential property (minimum of 5 units).
• Incorporate elements of affordability, accessibility, or sustainability into the design or renovations.
• Meet CMHC’s general mortgage insurance requirements.

Borrowers should also provide a detailed proposal outlining how their project aligns with the program’s objectives.

How to Apply for the CMHC MLI Select Program

1. Consult a Real Estate Expert:
   Work with a real estate professional who can help you find properties or projects suitable for the program.
2. Partner with CMHC-Approved Lenders:
   Ensure your lender is familiar with the MLI Select Program and can guide you through the application process.
3. Prepare a Strong Proposal:
   Highlight how your project meets the program’s criteria in affordability, accessibility, and energy efficiency.

Conclusion

The CMHC MLI Select Program is a game-changer for developers and property owners committed to creating sustainable and affordable housing solutions in Canada. By offering attractive financing options, the program makes it easier to bring impactful projects to life while addressing some of the country’s most pressing housing challenges.

Questions?

If you have any questions, or would like to setup a buyer or sellers consultation, contact Realtor Sean Findlay at 1-888-450-8301 or Sean.Findlay@Century21.ca

The post What is the CMHC-MLI Select Program? A Guide for Canadian Homebuyers appeared first on FINDLAY REAL ESTATE.

Is the holiday season a good time to sell your home?

When it comes to selling your home, most experts will advise you that spring is the perfect time to do this. They’re not wrong for saying this. However, the holiday season is also an excellent time to sell your home. Even though many people fear and avoid moving during the holiday season, it might turn out to be a good thing. There are plenty of ways to eliminate stress that comes with the move and make things easier. Plus, there will be fewer traffic jams, and plenty of movers offer discounts as it’s not their busy season.

But what about selling your home during the holidays? Here are just five of the many benefits that come with listing your home during the festive season.

#1 Less Competition: Fewer Homes on the Market

The lower housing inventory is one of the most significant advantages of selling your home during the holiday season. Many homeowners are hesitant to put their homes on the market during the holidays, thinking it’s not a good time to sell. But this is precisely why the holiday season can be an excellent opportunity for you to stand out from the crowd. With fewer homes on the market, your property will get more attention, and you’ll have a better chance of selling it quickly and for a good price.

#2 Quality Buyers: Buyers are More Serious

Experts state that the holiday season is an excellent time to sell your home because buyers who are shopping for properties during this time are typically more serious. They’re not just browsing for fun or to pass the time; they’re actively looking for a home to purchase and are motivated to make a decision. This means that you’re more likely to receive serious offers from serious buyers, and you can sell your home faster and with less hassle.

#3 Take Advantage of the Holiday Spirit: Staging Your Home for the Holidays

The holiday season is a time for joy, cheer, and good spirits, and you can use this festive spirit to your advantage when selling your home. During the home-selling process, emotions play a significant role in the decision-making of potential buyers. As people tend to rely on their feelings and instincts, the holidays offer a unique opportunity for homeowners to tap into these emotions to drive interest in their property.

Here are some tips for preparing your home for sale during the holidays:

• Declutter – A cluttered home can give the wrong impression and potentially discourage serious buyers from making an offer. To ensure a clean and organized appearance, consider renting a storage unit for any extra items that might be cluttering your home.
• Cozy Atmosphere – To create a warm and inviting feel, focus on making your home look cozy and comfortable. For instance, light a fire in the fireplace and stage a comfortable reading nook, or even have treats baking in the oven when buyers visit. Small touches can go a long way in the home-selling process.
• Simple Decorations – Holiday decorations can be an asset in attracting buyers, but it’s important not to overdo them. Stick to simple, natural decorations to appeal to a wide range of buyers, as excessive decorations can detract from the overall appearance of your home.
• Improve Curb Appeal – First impressions are crucial when selling a home, so make sure your home looks impeccable on the outside. You can also spread some holiday cheer on the outside, too.

#4 Year-End Job Transfers and Task Breaks

The end of the year is a time when many people take advantage of job transfers and task breaks, making it the perfect time for them to move into a new home. If you’re selling your home during the holiday season, you’re more likely to attract buyers who are looking to take advantage of this time to move. This can help you to sell your home faster and with less hassle, as buyers are more motivated to make a decision and move into their new home before the new year.

#5 More Flexibility: Holidays Offer More Time to Look for Homes

Finally, the holiday season offers more flexibility for buyers who are looking for a new home. With many people taking time off from work and school during the holidays, they have more time to look for homes and make decisions about where they want to live. This can be a great opportunity for you to show your home to more potential buyers, and you’re more likely to receive offers from buyers who are serious about making a move.

Holiday Season is Definitely a Good Time to Sell Your Home

In conclusion, the holiday season is a time for fresh starts, joy, and new beginnings, and it’s no different when it comes to selling your home. From fewer homes on the market to more serious buyers and more flexibility, there are many reasons why the holiday season is a good time to sell your home. By taking advantage of the holiday spirit, you can tap into the emotions of potential buyers and create a lasting impression that they will remember for years to come. With the right approach and preparation, you can turn this special time of the year into a successful home-selling experience. However, keep in mind that the key to a successful home sale is to have the right team by your side. So make sure to reach out to experienced real estate experts who know how to help you take advantage of the holiday spirit to sell your home quickly and at a good price. 

The post Reasons the Holiday Season Is a Good Time to Sell Your Home appeared first on FINDLAY REAL ESTATE.

Are you ready to make your homeownership dreams a reality, but struggling to come up with the downpayment? Look no further than our Home Downpayment Assistance Program! And now, you have the opportunity to learn all about it in our upcoming Online Zoom Seminar Series!

Register Below – Upcoming Dates:

Saturday January 11th, 2025, 11am – 12pm

What is the Home Downpayment Assistance Program?

Our Home Downpayment Assistance Program is designed to help eligible homebuyers cover the cost of their downpayment. With up to $250k in assistance available, we offer a flexible, competitive solution for first-time homebuyers or those who haven’t owned a home in the last three years.

Why Attend Our Zoom Seminar?

By attending our Zoom seminar, you’ll get an in-depth look at our Home Downpayment Assistance Program and how it can benefit you. Our team of experts will guide you through the application process, eligibility criteria, and answer all your questions. Here are some reasons why you should attend:

• Learn about our program: Our seminar is the perfect opportunity to learn everything you need to know about our Home Downpayment Assistance Program, including eligibility requirements and how to apply.
• Get your questions answered: Our team of experts will be on hand to answer any questions you may have about the program, the application process, or homeownership in general.
• Connect with other homebuyers: Our seminar is a great way to connect with other homebuyers who may be in a similar situation to you. You can share tips, advice, and support as you navigate the homebuying process.

How to Register for Our Zoom Seminar?

Registering for our Zoom seminar is quick and easy. Simply visit our Eventbrite page and click on the registration button. We’ll send you all the details you need to join our seminar on the scheduled date.

Conclusion

If you’re ready to take the first step towards homeownership, our Home Downpayment Assistance Program can help. And our upcoming Zoom seminar is the perfect opportunity to learn all about it from our team of experts. Don’t let a downpayment stand in the way of your dream home – register for our seminar today and unlock the door to your future!

The post Learn About Our Home Downpayment Assistance Program In Our Upcoming Zoom Seminar Series appeared first on FINDLAY REAL ESTATE.

Looking for a modern, upscale living space in the heart of Mississauga? Discover this exquisite luxury basement apartment located at 5900 Greensboro Dr (Winston Churchill & Britannia Rd) for only $2500 per month.

A Spacious, Fully Furnished 2-Bedroom Apartment

Step into a beautifully designed 2-bedroom basement apartment with 9ft ceilings, offering a blend of elegance and comfort. Perfect for professionals, students, or anyone looking for a tranquil yet stylish home, this property is move-in ready and comes fully furnished.

Apartment Features:

• Bedrooms: Two generously sized, fully furnished bedrooms.
• Bathroom: A private, beautifully finished full bathroom.
• Kitchen: A modern kitchen featuring sleek appliances, ample counter space, and bar seating—ideal for cooking, dining, or remote work.
• Living & Dining Areas: Stylishly appointed spaces with plush seating and a dedicated dining area.
• Separate Entrance: Enjoy the privacy of your own well-lit, separate entry.
• In-Suite Laundry: Convenience at its finest with your own washer and dryer.
• Parking Included: One parking spot is available for your convenience.

Prime Location with Unmatched Amenities

Nestled in a quiet, safe, and well-established neighborhood, this home offers easy access to everything Mississauga has to offer:

• Shopping & Dining: Minutes from major malls, supermarkets, and Tim Hortons.
• Recreation: Close to parks, movie theaters, and fitness centers.
• Accessibility: Quick access to public transit, highways, and Toronto Pearson International Airport.
• Education & Healthcare: Near the University of Toronto Mississauga campus and a reputable hospital.

Why This Apartment?

This luxury basement apartment combines modern design with practical amenities to create the perfect living space. The high ceilings and open-concept layout ensure you have all the space you need, while the fully furnished interiors mean you can move in hassle-free.

Availability

This stunning apartment is move-in ready! Don’t miss your chance to call this exceptional property home. Book a viewing today and experience the luxury and comfort of 5900 Greensboro Dr.

For Tenant Representation

Please contact,

Sean Findlay, Realtor, B.A.

Real Estate Sales Representative

Century 21 Millennium Inc., Brokearage

905-450-8300

Sean.Findlay@Century21.ca

www.FindlayRealEstate.ca

The post Luxury Basement Apartment for Rent in Mississauga – 5900 Greensboro Dr appeared first on FINDLAY REAL ESTATE.

Effective December 15, 2024, Canada is implementing significant mortgage reforms aimed at improving housing affordability. These changes are especially impactful for homebuyers in major markets like Toronto, Vancouver, and Montreal, where rising home prices have made it increasingly difficult to afford a home. Whether you’re a first-time buyer or looking to upgrade, these reforms are designed to make homeownership more accessible.

Let’s dive into the details of Canada’s new mortgage rules for 2025, and how they will affect you.

Key Changes to Canada’s New Mortgage Rules Starting December 15, 2024

1. Increased CMHC Insured Mortgage Cap

One of the most significant changes coming on December 15, 2024, is the increase in the CMHC insured mortgage cap. The Canadian Mortgage and Housing Corporation (CMHC) is raising the cap from $1 million to $1.5 million. This change is particularly important for homebuyers in high-cost markets like Toronto, Vancouver, and Montreal, where property prices have skyrocketed over the last decade.

What This Means for Buyers:

• Increased affordability: Buyers can now purchase homes up to $1.5 million with as little as a 5% down payment, making it easier for first-time buyers to enter the market.
• More options: More properties will now fall under CMHC-insured limits, giving buyers access to a wider selection of homes.

A Closer Look at the Market Impact:

For homebuyers in these markets, the new cap makes it possible to purchase more expensive homes with the same down payment. However, it also means that home prices may rise further as more buyers are able to access larger mortgages.

2. Extended 30-Year Amortization Period for First-Time Buyers

Another game-changer for homebuyers is the extension of 30-year amortization periods for first-time buyers. This reform allows first-time buyers to stretch out their mortgage payments over a longer period, thus lowering their monthly payments.

Benefits of Extended Amortizations:

• Lower monthly payments: A 30-year amortization means your monthly payments will be smaller compared to the traditional 25-year period. This can significantly reduce the financial strain of homeownership, especially for young buyers or those on a tight budget.
• More people qualify: With lower payments, more buyers may qualify for a mortgage, even if their incomes are relatively modest.

Example: Comparing Monthly Payments

To illustrate, let’s look at a scenario where a buyer takes out a $500,000 mortgage at a 5% interest rate:

While the monthly payments are lower with a 30-year amortization, buyers should keep in mind that the total interest paid over the life of the loan will be higher.

3. When Will These Changes Take Effect?

The new rules are set to take effect on December 15, 2024. This gives homebuyers, lenders, and real estate professionals a few months to adjust to the new guidelines. If you’re planning to buy a home or refinance, now is the time to get familiar with these changes and prepare accordingly.

The Broader Context: Addressing Canada’s Housing Affordability Crisis

These mortgage reforms are part of the Canadian government’s ongoing efforts to address the housing affordability crisis that has been plaguing the country, especially in major urban centers. Home prices have increased significantly over the past decade, making it more difficult for young Canadians and first-time buyers to secure a home.

Rising Home Prices in Canada’s Major Cities

Here’s a look at how home prices have increased over the past decade in some of Canada’s largest cities:

As you can see, the price of homes has nearly doubled in Toronto over the last decade. These skyrocketing prices have led to more Canadians being locked out of the housing market, which is why the government’s changes to mortgage rules are so crucial.

Housing Supply Shortages

In addition to rising home prices, Canada is facing a severe housing supply shortage. The government is targeting an ambitious goal of building 4 million new homes to address the growing demand driven by population growth. Without an increase in supply, home prices may continue to climb, putting homeownership further out of reach for many Canadians.

Potential Impacts of the New Mortgage Reforms

While the new mortgage rules aim to make homeownership more accessible, they come with both potential benefits and risks. Here’s a closer look at what these reforms could mean for the Canadian housing market:

Positive Outcomes

• Increased homeownership opportunities: The new rules make it easier for first-time buyers to enter the market, increasing the chances of homeownership.
• Economic boost: Increased housing activity could stimulate related industries, including construction, retail, and home improvement.
• Lower monthly payments: Extended amortizations reduce monthly mortgage payments, making homeownership more affordable on a month-to-month basis.

Possible Risks

• Rising home prices: The new rules could push home prices even higher, especially in high-demand cities like Toronto and Vancouver, as more buyers can access larger mortgages.
• Higher overall debt: While monthly payments may be lower with a 30-year amortization, buyers may end up paying more in total interest over the life of the loan.

What Homebuyers Need to Know Before Buying in 2025

If you’re planning to buy a home after December 15, 2024, here’s how you can prepare for these changes:

1. Save for a Down Payment

While the new rules make it easier to access larger mortgages, you still need to save for a down payment. The minimum down payment requirement for homes under $1.5 million is 5%, but a higher down payment may be required for homes over that price point.

2. Understand Your Budget

Even though your monthly payments may decrease with the new 30-year amortizations, it’s important to consider the long-term financial impact. Extended amortizations result in more total interest paid, so you need to be aware of how much you’ll be paying over the life of your loan.

3. Get Pre-Approved

Mortgage pre-approval is a crucial step in the home-buying process. Understanding how these changes impact your borrowing power will help you make better financial decisions. Speak with a lender to understand how the new rules affect your specific situation.

4. Stay Informed

Keep up with lender updates and market conditions. The housing market is constantly evolving, and staying informed will help you make the best decisions when it comes time to purchase your home.

Conclusion: Canada’s New Mortgage Rules 2025

Canada’s new mortgage rules, set to take effect on December 15, 2024, will help make homeownership more attainable for many Canadians, especially in high-cost cities like Toronto, Vancouver, and Montreal. By increasing CMHC-insured mortgage caps and extending amortizations for first-time buyers, the government is addressing key affordability challenges.

However, these changes also come with potential risks, such as rising home prices and higher overall debt. Homebuyers should approach these changes with caution and ensure they are well-prepared before entering the market. With proper planning and informed decision-making, these new rules could unlock exciting opportunities for Canadians looking to buy a home.

Stay informed, plan ahead, and take advantage of these reforms to make your homeownership dreams a reality in 2025.

Need help navigating the new mortgage rules and finding your dream home? Contact me today, and let’s get started!

Sean Findlay, B.A., Realtor
Award-Winning Sales Representative
Century 21 Millennium Inc.
Office Phone: 905-450-8300 | Mobile Phone: 416-996-0054
Visit FindlayRealEstate.ca

References:

• Canadian Mortgage and Housing Corporation (CMHC)
• Government of Canada Housing Announcements
• CREA Housing Data

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