Thiru Nirahulan's blog

Over the last few years, investors have been said to have played a significant role in the housing boom that took place in the Canadian real estate market – especially in major markets like Toronto and Vancouver.

In March 2024, statutory registry services firm Teranet released the latest Market Insight Report. It revealed that investors owned nearly one-quarter (23.7 per cent) of Ontario homes in 2023, down slightly from 25.2 per cent in 2022. While a majority (53 per cent) owned two properties, close to eight per cent owned 11 or more homes. Interestingly enough, many of these investors...

Downsizing for retirement is all about cutting back and simplifying your life. Think less house to clean, fewer bills to pay, and more cash in your pocket from selling your bigger place. Downsizing offers significant financial benefits and lifestyle advantages so that you can focus on what will make you happy in your golden years.

Reduced Living Expenses

Transitioning from a larger family home to a smaller residence is a strategic financial decision that can free up cash flow and reduce the monthly financial pressures that come with maintaining a larger property. Transitioning to a...

Transitioning from a starter home to your dream home is an exciting journey that requires patience, strategic planning, and an understanding of the real estate market. A starter home, often a smaller and more affordable option, serves as an initial step into homeownership. It’s a practical choice for younger homebuyers who might not have the funds for a larger down payment. Despite their lack of amenities or ideal location, your first home offers a unique opportunity: the ability to save money while building equity. Over time, as your financial situation improves and your equity grows,...

The home selling process typically involves several key stages, each with its own set of tasks and considerations. Here are the key stages of the home selling process:

1. Preparation:

   • Before listing your home on the market, you'll need to prepare it for sale. This may involve decluttering, cleaning, and depersonalizing the space to make it more appealing to potential buyers. You may also need to make repairs or upgrades to enhance the home's appearance and functionality.

2. Setting the Price:

   • Pricing your home correctly is crucial to attracting buyers and maximizing your sale price. Work...

It can be a humbling experience for first-time homebuyers in today’s Canadian real estate market. Whether putting together sizable down payments or navigating the challenging mortgage market, first-time homebuyers have many hurdles to overcome.

That said, despite what could be a daunting endeavour for many households, it is also an exciting time because you are making a decision that will impact the rest of your life. It might sound like a trope these days, but acquiring a single-family home, condo, or townhome is the most significant purchasing decision you will ever make. As a result,...

Buying a house in the summer in Canada presents its own set of considerations due to the unique climate and real estate market dynamics in the country. Here's what you should know about the homebuying process during the summer months in Canada:

1. Active Real Estate Market:

   • Like many other regions, summer is a busy season for real estate in Canada. With longer daylight hours and favorable weather conditions, more sellers list their homes, and more buyers are actively searching for properties.

2. Competitive Market in Certain Areas:

   • In popular urban centers such as Toronto, Vancouver, and...

Making your rental home shine doesn't have to break the bank. Here are some easy and affordable tips to enhance the appearance and appeal of your rental:

1. Deep Clean:

   • Start by giving your rental home a thorough deep clean. Scrub floors, walls, and surfaces, clean windows, and wipe down appliances. A clean space instantly feels more inviting and well-maintained.

2. Declutter and Organize:

   • Remove unnecessary clutter and organize your belongings to create a tidy and spacious environment. Use storage solutions such as baskets, bins, and shelves to keep items neatly stored away.

3. Fresh...

In the face of an ever-challenging housing market, Canadians are getting creative with how they acquire their first homes. Recognizing the hurdles of high property prices and the complexities of securing a mortgage individually, many first-time homebuyers are now exploring the prospect of buying homes with friends. This trend represents an inventive approach to homeownership, pooling resources to overcome financial barriers. This alternative ownership trend is discussed in depth in a recent RE/MAX Royal property report about alternative housing trends, offering insights into how groups of...

Ensuring that your first home is a wise investment involves careful research, financial planning, and consideration of various factors. Here are steps to help you make a smart decision:

1. Set Realistic Budget and Financial Goals:

   • Determine how much you can afford to spend on a home by evaluating your income, savings, debt, and expenses. Use online calculators or consult with a financial advisor to establish a realistic budget. Consider your long-term financial goals, such as retirement savings, and how homeownership fits into your overall financial plan.

2. Research the Real Estate...

Canada’s current generation of retirees, or those on the cusp of retirement, are stuck between a rock and a hard place. The inflationary climate has made it challenging for seniors, forcing older Canadians to maintain their living standards and navigate a turbulent economic environment. One facet of this struggle is housing. For many retirees, downsizing to a smaller place is a common strategy.

At a time of higher mortgage rates and higher post-pandemic prices, the decision of where to live can be an important one for retirees. This requires them to properly weigh the pros and cons of the...