Sepehr Safaee YourOttawaRealEstate.com's blog

The Ottawa Real Estate Board (OREB) says the capital's real estate market thawed in January, but the market is still relatively quiet.

Newly released statistics show 629 homes were sold in January, which is in increase of 16.5 per cent from January 2023. OREB notes that home sales were 10.7 per cent below the five-year average and 3.9 per cent below the 10-year average for the month of January.

“Ottawa’s market activity is seeing positive gains over last year but it’s still a relatively quiet market even by pre-pandemic standards," Curtis Fillier, OREB president,...

The Bank of Canada has announced its key overnight interest rate will remain at five per cent, keeping its benchmark the same for the fourth time in a row.

Today's announcement was predicted by many economists. The central bank last raised interest rates in July 2023. At a press conference on Wednesday morning, the central bank's governor, Tiff Macklem, said discussions at the Bank of Canada are now shifting from how high to how long.

Instead of looking primarily at whether the bank's policy-setting interest rate is high enough, the bank is now considering how long...

When faced with property damage in your rental unit, the situation can quickly become overwhelming. Whether due to a natural disaster, an accident, or a negligent act, sorting out who’s responsible for repairs in Canadian rentals is a crucial first step.

The Residential Tenancies Act (RTA) provides a framework for these situations, detailing the obligations of landlords and tenants. Understanding your legal responsibilities can help you effectively manage repairs and mitigate any disputes that may arise.

Understanding Property Damage and Repairs in Rental Units

Under...

If you’re gearing up to sell your house, you might be pondering whether to spruce it up or sell it as is. It’s a common conundrum. While it’s crucial to fix major issues like faulty foundations or a failing heating system, it’s equally important to know which improvements aren’t worth your time or money.

In the bustling Canadian housing market, the decision to renovate or not can significantly impact how quickly you sell your property and at what price. But beware of over-improvement. Contrary to popular belief, not every repair or upgrade will add value to your home. In fact, some...

Credit scores play a crucial role in the world of finance, particularly when it comes to securing a mortgage. In Canada, a good credit score can be the key to unlocking your dream of homeownership. Errors in your credit report can have a negative impact on your score, making it all the more important to regularly review and correct any inaccuracies.

When it comes to mortgages, lenders often rely on your credit score to gauge your financial reliability. Most lenders require a minimum credit score of 620, though this varies depending on the lender and the type of mortgage. Your credit...

Since March of last year, the Bank of Canada has raised interest rates an unprecedented nine times. Not only that, but the rates themselves have swung from historic lows to a 20-year high. Resulting monthly expenses have been just too steep for many mortgage holders.

To get a read on Canadians’ sentiments overall, Royal LePage commissioned a survey. It found that “74% of mortgagees with lending agreements set to renew within the next 18 months report feeling concerned about higher interest rates”.

As a result, many Canadians are looking to cut costs, including by considering a...

The federal government unveiled a plan to eliminate GST on purpose-built rental construction until 2030—a move it hopes will spur new units across the rapidly growing country.

“With provinces like Ontario and Newfoundland and Labrador following our lead by eliminating provincial taxes on new rentals, we’ll get more rental housing built faster and encourage new builds to break ground,” Deputy Prime Minister and Finance Minister Chrystia Freeland said.

The GST freeze expires Dec. 31, 2030, and will apply for developments completed exactly five years to the day.

The...

As the leaves change colour and start to fall from the trees, what used to be the glistening of morning dew is now turning to frost.

The warm weather has come to an end, which means it’s time to prepare your garden for the onset of colder weather..and frost! But what do you really have to do, and when? Here, we highlight the 10 most common mistakes people make when closing down their gardens and what you can do to ensure your garden is ready to thrive come spring.

1. KEEP THOSE FALLEN LEAVES

Mother Nature doesn’t allow leaves to fall from trees each year for no reason....

While most major markets in Canada reported rent increases in September, a potential sign of a slowdown is emerging, particularly in Toronto. 

The latest National Rent Report by Rentals.ca and Urbanation reveals that the Canadian rental market has continued its upward trajectory. Average asking rents across the country have seen a month-over-month increase of 1.5 per cent, reaching an average of $2,149. This marks an 11 per cent year-over-year growth, representing a nine-month high in the annual rate of rent inflation.

Toronto, the country’s largest rental market,...