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Tips and Tricks April 11, 2022

5 Ways New Homeowners Can Save Money

Buying a new home might be one of the biggest purchases you ever make in your life. It is also a great investment in your future, one that takes nurturing, maintenance, and smart financial planning.

After your move in, unpack all your boxes, organize your furniture and start to feel at home, there is an opportunity to look at ways to save money so that you can enjoy your new home even more!

We’ve rounded up five ways new homeowners can save money, and you might think of a few more after reading our shortlist.

1. Roll Up Your Sleeves and DIY Home Projects

This is a no-brainer and can actually be very fun! By rolling up your sleeves and doing some small home projects yourself, you can save money by not paying someone else to do them. If DIY isn’t exactly your thing, but learning new skills is, you can often sign up for short courses at local hardware and home stores to get familiar with what tools you will need and how to do the job properly.

Some easy projects you can do yourself are:

– paint one or more rooms in the house to give them a fresh and personalized feel;

– install a backsplash in your kitchen or bathroom;

– partner with neighbors to put up fencing or construct a back deck;

– install window coverings;

– change light fixtures;

– switch out the handles and hardware on cabinetry and doors around your home

2. Energy Audit Your Home

You might not realize it, but you could be spending way more than you should be to heat and cool your home. There are some simple ways to ensure your home insulation is working as well as it should be and some tools you can use to improve your home’s performance.

More common in older homes, drafty windows can drain your savings and they can be fixed with weather stripping found at most hardware stores. Doors can be drafty too and it doesn’t make you have to replace the door or the frame, it just means you have to reduce the gap.

When it’s hot outside and you want your house to stay cool, window coverings can help to reduce the heat in your home. If your air conditioner isn’t over-worked, you won’t have to spend as much to keep your house cool in the summer

Another big energy eater is the lightbulb – so easy to replace. LED and CFL lighting can save you a bundle and they outlast regular incandescent bulbs. They might be pricier to purchase but they will save you money in the long run. Try installing them in places where lights are left on, such as the front porch, hallway, and living rooms.

3. Bundles Your Services

Do you have more than one type of insurance? Home, car, life insurance? Please speak to your financial experts about bundling them to find some savings.

What about phones, TV, and the internet? Bundling these services should also come with a discount, saving you money every month.

Another example of bundling is to speak with your mortgage broker or financial advisory about refinancing or consolidating loans. This can save you money in the short and long term and is definitely worth looking into.

4. Smarten Up Your Home

Many new construction homes will have integrated smart home technology ready when you move in. This is a great way to save money from Day 1 and according to Energy Star, a smart thermometer can save new homeowners about 8 percent per year on their utility bills.

If your home doesn’t have smart technology, here are a few ways to install tools that can help monitor energy use and save you money by minimizing your utility bills. Installing a smart thermometer is a great first step. You can control the climate in your home and make it cost-effective by programming the optimal desired temperature for different seasons, times of the day, and week, as well as when you are in the home or not.

A smart water monitor and security system is another way to save money. While a security system is known to alert homeowners to theft, a smart water monitor security system can protect your home from water damage and leaks that cost you money on your water bill and your homeowner’s insurance.

Lastly, smart lighting technology such as motion sensors and installing water conservation fixtures around the home, such as low-flow toilets, faucets, and showerheads will save you money on items you use every day.

5. Save Some Money For A Rainy Day

It might sound strange, but putting aside some money every month is a great way new homeowners can save money in the long term. Owning a home is a big responsibility and maintaining your investment is important to ensure its longevity. Seasonal maintenance is part of homeownership, and much of it can be DIY’ed to save money, but sometimes things pop up that are unexpected.

For example, after a long, hard winter, you may need to replace some roof shingles or fix a leak that appears in a rainy spring season. At any time, there could be appliances that need to be replaced or new furniture that needs to be purchased as your family grows.

Saving for a rainy day really means planning for the unexpected so that when you do need it, the money is there. This will save you borrowing costs, not to mention some stress!

Many Ways to Save

As a new homeowner, there are many ways to save money so that you can relax and enjoy your new home, and all you have to do is tackle one or two and you will start to see some savings soon enough!

Tips and Tricks March 29, 2022

What’s Happening in the Resale Home Market?

Across Canada, homes sales are historically high, and even as winter recedes and spring is upon us, the figures from the last few months are pointing to a strong start to the year with momentum to keep going.

“The question is: will that [spring] supply [of resale homes listings] be overwhelmed by demand as it was last spring, or will we start to see the re-emergence of some of the many would-be sellers who have been hunkered down for the last two years? Either way, it is shaping up to be another interesting year for the housing market,” Cliff Stevenson, Chair of the Canadian Real Estate Association said in a February news release.

Just like in the new construction sector, there is a low supply of resale homes on the market. The number of newly-listed properties dropped 11 percent from December 2021 to January 2022, according to the real estate association’s figures.

Buying a Resale Home in Canada’s Big Cities

There was an even split between the number of local markets where sales were up and those where sales were down in January. A look across Canada’s biggest cities shows where people are finding resale homes to purchase. Sales were up in Calgary, Greater Vancouver, and Ottawa but down in Winnipeg, Montreal, the Fraser Valley, and Hamilton-Burlington.

The actual number of transactions in January 2022 came in 10.7 percent below the record for that month, set in 2021. That said, as was the case throughout the second half of 2021, it was still the second-highest level on record for that month.

Additionally, the number of newly listed homes dropped by 11 percent month-over-month in January, with a pullback in the GTA accounting for more than half of the national decline.

“The ideal situation between now and the summer would be that a huge surge of sellers come forward looking to sell in the spring 2022 market,” said Shaun Cathcart, Canadian Real Estate Association’s Senior Economist.

“If that were to occur, similar to 2021, we’d likely see a massive number of sales take place which would get a lot of frustrated buyers into homeownership, and we’d likely see some cooling off on the price growth side if those offers are spread across more listings. Those are all things this market needs. It really comes down to how many properties come up for sale in the months ahead.”

Resale Home Prices in the Greater Toronto Area

The resale home market in the Greater Toronto Area is defined by supply and demand.

A lack of new listings of resale homes continues and that means more competition for the homes that are for sale, which drives prices up. The average home price crept up nearly 28 percent when compared with last year in the GTA, according to the Toronto Regional Real Estate Board.

The average selling price for a home in the region surpassed $1.3 million in February 2022, up from just above $1 million last February and more than $1.2 million in January of this year.

Looking at home size and style, the average price of a detached home hit more than $1.7 million last month in the GTA, with semi-detached properties at $1.3 million, townhouses at $1.1 million, and condos nearing $800,000.

The GTA continues to be a desirable place to live and buy a home, however, the demand is outpacing supply, fueling a market where bidding wars, few sellers, and a frenzied atmosphere have become the norm.

Could the Interest Rate Increase have a Cooling Effect?

In early March, the Bank of Canada increased its benchmark interest rate to 0.5 percent from 0.25, where it has sat for the last two years of the worldwide pandemic. Read our blog post here to learn more about what the interest rate increase means to you if you’re an investor, a first-time home buyer, an upsizer, or a downsizer.

The sustained low-interest rate is an incentive for many people to get into the housing market, as well as upsize, but there remains a supply issue in major centers like the GTA, which impacts pricing.

The Toronto Regional Real Estate Board reacted to the interest rate increase by stating that it will likely have a “moderating effect” on home sales, but will be countered by substantial immigration levels and a continued lack of supply. The Board does not see home prices abating in the near term.

“Because inventory remains exceptionally low, it will take some time for the pace of price growth to slow,” Jason Mercer, the board’s chief market analyst, said in a news release.

“Look for a more moderate pace of price growth in the second half of 2022 as higher borrowing costs result in some households putting their home purchase on hold temporarily as they resituate themselves in the market.”

Greater Toronto Area realtors reported 9,097 sales through the Toronto Regional Real Estate Board’s MLS® System in February 2022, representing a 16.8 percent decrease in the number of sales compared to February 2021.

The supply of listings for low-rise home types including detached, semi-detached and townhouses was also down year-over-year. In the condominium apartment segment, particularly in Toronto, new listings were up in comparison to February 2021.

“We have seen a slight balancing in the market so far this year, with sales dipping more than new listings. However, because inventory remains exceptionally low, it will take some time for the pace of price growth to slow,” said Mercer.

If interest rates rise again throughout this year and next, resale home buyers could experience less competition, and in turn, slightly lower sales figures in the second half of 2022. That is if the market cools as expected due to higher borrowing costs.

Tips and Tricks March 11, 2022

What to Consider When Buying a Home in 2022

If this is the year you’ve been dreaming about – the year you purchase a new home, we’ve rounded up a short list of things to consider before you do. As an informed home buyer, you’re doing your research, touring neighbourhoods, learning about communities, builders and homes that are for sale. This is all great and will help you make a decision that is right for you. Some of our items to consider might be things you’re already thinking about, and others might be new information. If you want to buy a new home this year, gather the tools you need and surround yourself with experts so that when you make your move, it’s a smooth and memorable experience!

Here’s our list of the top things to consider when buying a new home in 2022:

Finding The One

If you’ve been house-hunting for a while, this will come as no surprise to you: finding the right home for you can be challenging!

It takes time to research neighbourhoods and communities. You have to make a must-have list and a nice-to-have list, with items like the type of home you want, the size and also think about its proximity to amenities, schools and transit, if that’s what suits your lifestyle.

Once you shortlist neighbourhoods you like, you may encounter a supply problem. In established neighbourhoods, it can be hard to find resale homes that check every box, especially if you aren’t in the market for a renovation.

New construction homes are being built as swiftly as they can, especially in the GTA, where it can take time to get shovels in the ground and there are only so many tradespeople to go around to build and finish the structures. If you do your research and get to know a reputable builder, you can stay informed about upcoming projects and releases of homes in communities under construction.

Purchasing a new construction home in 2022 is an exciting way to buy a new home this year because you can watch your home be constructed from the ground up. You also work with a design professional to select exterior and interior finishes that will ensure your new home is designed to your personal taste.

Knowing What You Can Afford

In March 2022, the Bank of Canada announced that it would be raising interest rates, a move many had been expecting. If you are planning to buy a home in 2022 and you have already engaged a financial expert and have attained pre-approval for a mortgage, then you may have avoided some extra costs. It’s important to check in with your experts and know how long the pre-approval rate lasts.

If you are wondering about buying a home with the increased interest rates, the best thing you can do is meet with a financial expert and figure out what type of home you can afford. This step will help you narrow down your choices and it is best to do before you begin house hunting. Understanding your budget will help guide you to different locations, home types and sizes, depending on what you can afford to spend in 2022.

New vs. Resale Homes

Considering a new home or a resale home is an important step to take before purchasing a new home this year.

A new home can take time to be constructed, but you do get to select finishes with a professional designer that are in your taste and style. You also have to consider the community. If you are moving in during a later phase, there could be roads, homes and some amenities already constructed, but if you are moving in just as the community is getting started, you get to experience it coming to life.

A resale home may be in an established neighbourhood, with existing parks and amenities in place, but you may not get the design or finishes inside the home you prefer. The home may need some renovation or repair, depending on its age and former owners. There also could a difference in price, depending on the location. In many cases, homes in established neighbourhoods are priced higher than they would be in new communities.

Invest in Your Future

Buying a new home might be the biggest investment you make in your lifetime. It is an investment in your future.

A Leger survey conducted on behalf of the RE/MAX Canada revealed that nearly half of Canadians still think that buying a home is the best investment decision you can make today.

“Canadians recognize the value and investment potential in their homes. However, market challenges such as rising prices and limited supply have impacted local markets from coast-to-coast, causing angst this past year among those looking to get into the market and those hoping to move up in it,” says Elton Ash, Executive Vice President, RE/MAX Canada.

“Despite this, it’s encouraging to see that many are feeling confident in the housing market in 2022 and view Canadian real estate as a solid investment.”

Whether you are buying a new home as a primary residence, a second or vacation home or you are a first-time home buyer, the real estate market is robust and resilient. The Centre for Urban Research and Land Development reports that as of 2016 more than 700,000 millennials in Ontario’s Golden Horseshoe area alone were still living at home and likely to be aging into the market.

“I think we’ve been underestimating the impact of millennials entering home-buying age,” says Diana Petramala, senior economist at Ryerson University’s Centre for Urban Research and Land Development. “Millennials were holding less real estate but more cash in 2019 than generations before them. The ones that could afford to have clearly been saving for that down payment.”

Investing in real estate, in a good location with appreciation potential, is looking like a smart move for many in 2022.

If Not Now, When?

In 2022, the real estate market will continue to offer choice and investment opportunities, especially in the Greater Toronto Area. With the recent Bank of Canada rate increase and encouraging easing of supply chain and pandemic-related issues that impacted the market over the last two years, this could be the right time to purchase a new home. If you have researched your options, engaged experts to help you make an informed decision, then this could be your year! Consider this: if not now, when?

Tips and Tricks March 3, 2022

What Real Estate Challenges Will We See in 2022?

The real estate market across Canada and more locally, in the Greater Toronto Area, is robust and resilient. Real estate is recognized nationally and internationally as a smart investment, with a wide variety of locations, choice and communities that make homes appreciate in value year after year.

After experiencing an unprecedented worldwide pandemic over the last two years, which brought new safety requirements to the home building industry; supply chain issues; and skilled labour shortages, the real estate market and home buyers are up for whatever challenges may come in 2022. Here is a look at some challenges the industry and home buyers may face in the next year when it comes to building and buying homes.

Some Challenges for Home Buyers

The main challenges for home buyers in the GTA are affordability; supply, choice and inventory of homes available; and the possibility of increasing interest rates.

Across the GTA, housing affordability continues to be a challenge and the biggest contributor is the lack of supply. According to a recent Scotiabank Economics report, entitled “Which Province Has the Largest Structural Housing Deficit?” there has been some good news in the last few years as the number of new homes to start construction has risen.

“There is some cause for optimism as housing starts rose sharply in 2021 and efforts across the country to address the supply deficiency are multiplying,” the report states.

“Despite these welcome signs we remain of the view that the shortage of housing relative to the population’s needs will continue to put upward pressure on prices and rents and reduce affordability. Much remains to be done by policymakers to help close the housing deficit.”

Not just in the GTA, but across the country, the report says real estate markets are encountering the same problem of demand far outstripping housing supply. With not enough homes to go around, prices continue to be pushed higher.


Will Interest Rates Go Up in 2022?

Rising interest rates could be a challenge for new home buyers this year and next and buyers who want to purchase before interest rates go up might be wise to get into the market sooner rather than later.

At the end of January, the Bank of Canada stated that the economy entered 2022 with considerable momentum. Strong employment growth, strong hiring intentions and wage gains are picking up.

Experts and financial institutions are divided on when interest rates could go up, but most forecasts suggest by the end of 2022, the target overnight rate could rise to 0.5%.

Work from Home Continues

There are going to be some key forces of change to the Canadian real estate market, according to a PWC report entitled, Emerging Trends in Real Estate 2022.

One of the big ones is the changing world of work and its impact on people’s perception of home.

In the last two years, the line between home and office has blurred. Homes also became classrooms during the pandemic, forcing people to look at their homes and their space differently.

The landscape for offices will continue to change in 2022. This will impact changing migration patterns, commutes and put an even greater focus on mixed-use communities. 

Some experts believe the trend that saw some move from big cities to suburban communities in search of more space will level out, as Canada emerges from the pandemic and cities experience a return to the core and condo-living.

In the residential market, low interest rates, increased savings by some Canadians during the pandemic and the desire for more living space have helped boost the demand for housing and, consequently, home prices and affordability challenges.


Robust GTA Real Estate

With the forecasted end of pandemic conditions in 2022, the real estate market in the GTA is expected to remain strong and steady through this coming year.

In its recent Housing Market Outlook report, the Canada Mortgage and Housing Corporation predicted continued price growth through to 2023, though at slower rates than seen recently.

The outlook remains a seller’s market, with low inventory available, homes sell easily. With property in the GTA being so hard to come by, and its years-long trend in appreciation, values in the market will likely remain strong for at least a few years to come, according to the CMHC predictions.

For home buyers, who are trying to get in now before an impending increase in interest rates when large mortgages will be less affordable, the advice is to do your research and engage a team of experts to purchase a home that fits your lifestyle and budget.

Despite the global pandemic, many Canadians still feel confident in the real estate market, according to a Leger survey conducted on behalf of RE/MAX Canada, and 49 per cent of respondents believe Canadian real estate will remain one of their best investment options in 2022.

“Based on feedback from our brokers and agents, the inter-provincial relocation trend that we began to see in the summer of 2020 still remains very strong and is expected to continue into 2022,” says Christopher Alexander, President, RE/MAX Canada.

“Less-dense cities and neighbourhoods offer buyers the prospect of greater affordability, along with liveability factors such as more space. In order for these regions to retain these appealing qualities and their relative market balance, housing supply needs to be added. Without more homes and in the face of rising demand, there’s potential for conditions in these regions to shift further.”


Tips and Tricks February 28, 2022

Experience the Village Lifestyle in Kleinburg

Idyllic and nestled in nature, Kleinburg is a charming historic village on the Humber River, in Vaughan. Situated on a narrow section of hilly landscape, with the river on either side, the village is bounded by Highway 27 on the west and Stegman’s Mill Road to the east.

Perhaps best known for being the inspiration for the Group of Seven and artwork for many Indigenous artists, Kleinburg is home to the McMichael Canadian Art Collection. In addition to a strong arts and culture community, Kleinburg has superb shopping, dining, family festivals and much more, making it a desirable place to live, work and play.

Explore Downtown Kleinburg

Founded in 1848, the Village of Kleinburg was built around a sawmill and a gristmill located on 33 hectares (83 acres) of land owned by John Nicholas Kline. It is assumed that Kleinburg was named after Kline, however, its present spelling was derived from a combination of two German words: Klein, meaning “little or small” and berg, meaning “mountain.” The name “small mountain” perfectly describes the topography and environmental setting of Kleinburg.

Today, much of its heritage character remains in the downtown architecture, the timeless village atmosphere and in the beautiful heritage homes that have been there for a century or more. The main street is lined with boutiques, restaurants, luxury spas and European-inspired cafés. Strolling the charming downtown is an excellent way to get to know the village, in all four seasons. During the winter holidays, the downtown is all lit up and in the summer, vibrant patios are alive with families and friends, espresso-and-gelato-lovers alike.

Reconnect With Nature

Getting outside and reconnecting with nature is as easy as walking out your front door when you live in Kleinburg. The Humber River Trails surrounding Kleinburg offer unique hiking opportunities along the Humber River, and the hills are a favourite for cyclists who hail from across the GTA. In the warmer months Kleinburg is a mecca for cyclists, hikers and families who want to spend more time outdoors. There are easy trails leading from the village core to the McMichael Gallery, and more advanced trails outside the village and all along the way there are quiet picnic spots, bridges to scale and lookout points for the perfect photo opportunity.

With over 70 acres of new parks and greenspace, you can take the dogs for long walks, enjoy endless bike rides, walk or rollerblade and take in nature’s beauty. The 325-hectare Kortright Centre for Conservation is always a great spot for hiking and birding. The Maple Syrup Festival is a family favourite and they have many festivals and events planned throughout the year that allow you and your family to enjoy the outdoors. Kleinburg is also home to numerous golf clubs, including the prestigious Copper Creek Golf Club, which boasts a 40,000-square-foot clubhouse, spectacular landscaped gardens, picturesque gazebos and terraces.

Many are drawn to Kleinburg because of the acclaimed McMichael Canadian Arts Collection. Located on 100 acres of forested land, the McMichael gallery is an extraordinary showcase of Canadian artwork in a beautiful natural setting. Here, you can discover beautiful original works from the Group of Seven as well as many Indigenous artists.

Kleinburg’s hills and colourful landscapes were the inspiration for many Group of 7 paintings, and since its opening in 1966, the art gallery has held collections by the famous artists. The property also has a small cemetery where the original members of the Group of Seven are buried.

Getting Around Kleinburg and the GTA

Kleinburg is only 40 kilometres from Toronto, which is easily accessible since the village is only minutes from the Highway 427 extension, Highways 400 and 407. It is also well-served by York Transit and VIVA bus service, as well as GO Transit with the Maple GO Station near Keele Street and Major Mackenze Drive.

At Major Mackenzie Drive and Highway 400 is the new Cortellucci Vaughan Hospital and the area has many public, Catholic and private elementary and secondary schools, as well as preschools and daycares, recreation centres and libraries.

Just outside the village of Kleinburg you will find luxury shopping malls such as Vaughan Mills, world class post-secondary educational opportunities at York University and an abundance of sports and entertainment attractions within minutes.

Sense of Community in Kleinburg

The quaint village of Kleinburg is rich in heritage and community spirit. Once the home of former Prime Minister Lester B. Pearson, it is growing as more homes are built, families move in and businesses, retail and commercial, come to Kleinburg. The village supports tourism, small businesses and the volunteerism is strong here.

The community also rallies around Kleinburg cuisine. There are so many delectable dining spots in Kleinburg from Mediterranean to Italian eateries, like the Villaggio Ristrorante, to the quaint, cottage-styled restaurant, The Doctor’s House, complete with cobblestone pathways leading up to a white wedding chapel in the midst of lush green gardens, can be reserved for large parties and gala wedding celebrations.

Another unique boutique restaurant in the village of Kleinburg is the Avlyn Gardens, surrounded by greenery, this charming Victorian house gives a whole new meaning to restaurant dining. For sweets, confectionaries at Dolcini by Joseph or the gelato at Cookie Crumble Café are both worth a visit to Kleinburg.

Kleinburg is the perfect place to the escape the hustle bustle of a big city, knowing that all of the conveniences you want and need are just around the corner. Living in Kleinburg is quieter and slower pace. Living here is embracing a village lifestyle.

Tips and Tricks February 24, 2022

Advantages of Owning a Detached Home

Do you dream of owning a detached home? One of the best parts of living in a vibrant region like the Greater Toronto Area is the incredible choice of homes you have in type, size, and neighborhood.

There are so many advantages of owning a detached home. The space they offer, the flexibility for multi-generational families or creating an income property, and their ever-lasting value are just a few advantages. In a country like Canada, where the real estate market is robust, a detached home is a smart investment for you and your family.

Size and space

Detached homes are single structures with the surrounding property. They vary based on architecture, size, and location, but detached homes are private, often large enough to house multi-generational families, and can become an income generator by creating a separate apartment within the home or using a basement.

The value of a detached home appreciates like no other type of property, especially in the GTA. Since buying a home is the largest investment most people make in their lives, and detached homes can be expensive, the purchase of a detached home is a great investment.

Detached homes are an investment in your future

Single-family homes, including detached homes, semi-detached houses, and townhouses, accounted for 13,732 new home sales in 2021. This was four percent above the 10-year average, according to a report by Altus Group.

The report, New Homes Monthly Market Report, released December 2021, uses data from the Building Industry and Land Development Association (BILD) for new construction and the Toronto Real Estate Board for resale homes.

Flexibility for multi-generational families

Many homes today house multi-generations. Whether it’s adult children saving for their own home or grandparents, detached home offers space and privacy needed to have extra family members living there.

Often detached homes are built with basements. Sometimes they are unfinished, but they can be finished to extend the living space, and adding a bedroom, a bathroom, and even a small kitchen, will add value to the home.

Create an income property

A separate living area, like a finished basement apartment with its own entrance, is also an income generator because it can be rented out. This is a great way to cover the expenses of a large home if you are just starting out.

It can also become an in-law suite or flexible space as life evolves and your family needs change. As your family grows, detached home has the room and the flexibility to meet your needs.

Privacy and property

One of the best characteristics of a detached home is that you are not sharing any walls with your neighbor. Having more privacy allows you to worry less about any noise you make at home and any incoming noise from neighbors.

Most detached homes are set back from the sidewalk and street in the front, allowing room for a sodded front yard and some space for gardening. When you own your own home and your own property, this space is yours to design, landscape, and beautify.

This type of home also usually comes with a sizeable backyard. The perfect place to host family and friends, have barbecues, let the kids run and play and decorate with patio furniture, a swing set and plant a garden or two.

Design and décor to your taste

Owning the home and the property means you can make the changes you want to suit your lifestyle. When you purchase a new detached home, you can work with the builder’s design team to put the finishing touches on every room in the house. From selecting the flooring to the countertops, cabinetry, and the hardware, it will all be brand new and done to your taste when you are ready to move in.

Access to experts

Another advantage to purchasing a new detached home is your access to experts. When you find a home you love with a reputable builder, you can get connected to financial advisors who can help secure a mortgage and a sales team that can help you find the right size and style of home in your budget.

Once you purchase your home, you will meet with the builder’s talented design team, who will guide you in selecting the features and finishes in your home so that it looks the way you want when it is constructed.

Put down roots in a new community

According to ReMax’s Canadian Housing Market Outlook, Fall 2021, 23 percent of Canadians now have a greater desire to build their own home or buy pre-construction and 26 percent of Canadians have the desire to purchase a home while mortgage rates remain low.

In the GTA, detached homes are available in established neighborhoods, as well as brand new ones. In most new communities, there is a mix of housing types, so if you put down roots and want to upsize your home, you can find one within the same area.

There are many advantages to owning a detached home. The space and size of a detached home make it appealing to growing families, multi-generational families, and homeowners or investors who want to have an income property.

Detached homes also come with the sizeable property, including front and backyards, which are great for gardeners and entertaining friends and family. Purchasing a new detached home gives you access to experts and the benefit of putting the finishing touches on every room in the house to suit your taste.

While there are many types of homes in Toronto and the surrounding cities, purchasing a detached home in the GTA is an investment in your future that provides ever-lasting value.