Mindblown: a blog about philosophy.

First-time buyers face challenges, including navigating documents and understanding condominium or strata living complexities.Condominiums offer affordability, amenities, and convenience, but rules, expenses, and disputes can complicate ownership.

Mortgage Types Overview: – Closed mortgage: lower rates, less flexibility – Open mortgage: higher rates, greater flexibility Closed Mortgages: – Fixed rates, less flexibility in payments – Prepayment allowed up to 10-20% annually – Penalties for early payoff: 3 months’ interest or rate differential

Fall sees fewer homebuyers, reducing competition and easing the purchasing process. Home prices often drop in the fall, benefiting buyers with potential savings.

Assess Financial Health: Understand your budget, credit score, and debts before starting your home search.Get Mortgage Pre-Approval: Secure pre-approval to define your budget and show sellers you're serious.

76% of mortgages due for renewal by end of 2026. Variable rate mortgages risk negative amortization, increasing principal balances.

National Day for Truth and Reconciliation honours survivors and raises awareness about their experiences. It's a symbol of Canada's commitment to reconciliation with Indigenous communities. Wearing orange shirts on this day symbolizes respect for survivors and raises awareness about residential schools. May this day inspire a future where every voice is heard, and every spirit…

Focus on Fall Curb Appeal – Keep the lawn pristine and shrubs trimmed – Add fall-themed floral accents like potted mums Highlight Home Maintenance – Inspect and clean the HVAC system – Service the furnace – Clear gutters of leaves and debris – Ensure windows and doors are sealed

The Home Buyers’ Plan (HBP) now allows first-time buyers to withdraw up to $60K from their RRSPs. The HBP repayment grace period has increased to five years for withdrawals made between 2022 and 2025.

House prices may be higher in fall due to elevated summer closing values. Less competition in fall can be advantageous, but serious buyers are still active.