Buying a home in Canada isn’t just about the sticker price. Many first-time homeowners are caught off guard by additional costs that come with maintaining a property. Property Taxes & Insurance:Property taxes vary based on province and city but typically range between 0.5%–2.5% of your home’s assessed value annually. Home insurance is another non-negotiable, averaging
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With rising real estate prices across Canada, many Canadians question whether to rent or buy. While renting offers flexibility, buying builds equity — but which option makes the most sense? Current Market Trends:As of 2023, the average Canadian home price hovers around $670,000, according to CREA. In contrast, rental prices in major cities like Toronto
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Becoming a homeowner in Canada is a major milestone, but for first-time buyers, it can feel overwhelming. From understanding mortgage options to navigating government programs, the process is filled with critical decisions. Start With a Pre-Approval:One of the first steps is getting a mortgage pre-approval. This not only sets a clear budget but also shows
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