House hunters: Top 5 real estate tips for 2012

Rather than suffering a crash, Canada’s real estate market has been barrelling ahead. Find out what this means for buyers…

While stories south of the border speak to an ongoing real estate crisis, where foreclosed homes descend into disrepair, and neighbourhoods are reclaimed by weeds and wanderers, the story in Canada has been much different. Rather than suffering a crash, Canada’s real estate market has been barrelling ahead. Does this mean we’re headed for the same dramatic bubble and bust the U.S. – and many other countries – have recently experienced? Mortgage experts say probably not, suggesting that while Canadian real estate prices are probably over-valued, the overall economic climate suggests they are more likely to plateau than plunge.

In 2012, the real estate market is shaping up to be unique in a few key ways. This means that as with any market, it won’t benefit everyone. Here’s how new homebuyers and current home owners can make the best of what it has to offer.

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How to survive a real estate crash

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The end is coming! The end is near! The doom of falling real estate prices has been making more headlines than ever lately. Having witnessed the recent housing crash of our American neighbours, Canadians are realizing how very real and painful plummeting real estate values can be. Frustratingly, it’s impossible to forecast exactly when and how much the markets may fall. So what’s a homeowner to do? Should you sell your home now and sit on the cash, hoping to pick up a bargain on a three-storey mansion later? What if you have finally saved up enough money and are hoping to buy a place of your own? Do you do it anyway and hope for the best? How long can a girl wait for the markets to change? read more »

My cottage is your cottage: let’s plan for the future together!

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If you’re a seasoned leave-the-home-behind on a summer weekend kind of gal, you know what we’re talking about. You better plan for Thursday night events/celebrations/even your own wedding in the balmy months. Because watch out if you decide to hold your nuptials or other special event on a sunny Saturday in the city...you’ll be on the cottagers’ black-list. Yes, for many Canadians, May until early fall means cottage time. As in, weekends spent with lake friends, not city friends, and the rush of the urbanite tempered with the calm of the cottager. Big city life typically only resumes after Thanksgiving weekend and after closing up the summer vacation home. You know the drill...putting boats away for the winter, shutting down water lines, and cleaning out fridges and cupboards to keep those pesky mice away through the cold months. And best of all, reminiscing about the great summer that passed. Yes, wonderful memories are built in those hazy days of lake or beach living. But to keep the good memories and great traditions going, you need to think about how that wonderful escape will be passed down to future generations. The emotional and financial ramifications can be significant. read more »