As we step into 2025, Canada’s housing market finds itself on a cautiously optimistic path. The easing of interest rates, coupled with a resilient economy, has brought stability to the market, reflected in modest gains in home sales and prices. However, challenges such as housing supply and affordability remain at the forefront for policymakers and Continue reading
Real Estate
Secondary Suite Incentive Program 2025: Affordable Housing Opportunities
The Secondary Suite Incentive Program (SSIP) is transforming communities by empowering homeowners to create affordable rental housing. With financial assistance in the form of a forgivable loan, this innovative program helps property owners add secondary suites to their homes—and offers renters access to below-market housing options. Here’s your comprehensive guide to the program, eligibility, application Continue reading
Will It Be Easier or More Difficult for Canadians to Purchase a Home in 2025?
The Canadian housing market has faced affordability challenges for the past few years, making it difficult for many Canadians to enter the market. However, as we move into 2025, potential homebuyers may find opportunities to take advantage of new changes in mortgage rules, lower borrowing costs, and evolving market conditions. Mortgage Rule Changes: A Potential Continue reading
Home Accessibility Tax Credit 2025: Eligibility, Amount & How to Claim
The Home Accessibility Tax Credit (HATC) is a non-refundable federal tax credit designed to assist Canadians with the costs of making their homes more accessible. Whether you’re planning renovations for safety or mobility, this guide will help you understand eligibility criteria, claimable expenses, and how to make the most of this program. Who is Eligible Continue reading
BC’s New 20% Home-Flipping Tax: Everything You Need to Know for 2025
The New Year brings significant changes for British Columbia’s housing market with the introduction of a 20% home-flipping tax, effective January 1, 2025. Aimed at curbing speculation and promoting affordability, this tax targets short-term property sales. How Does the Home-Flipping Tax Work? This tax applies to income generated from selling a residential property owned for Continue reading
Canada New Mortgage Refinance Rules Under Secondary Suite Program 2025
The Canadian government is taking decisive steps to address the housing crisis by transforming underused spaces into homes and empowering homeowners to increase housing density. With a housing plan aimed at building 4 million homes by 2031, the federal government has announced significant measures to unlock vacant lands, retrofit underused federal properties, and support secondary Continue reading
Pros and Cons of Canada’s New Federal Secondary Suite Program Loan & Refinance
The Canadian government has introduced two ambitious initiatives to expand the availability of rental housing and ease financial strain for homeowners. These programs—the Secondary Suite Loan Program (SSLP) and the Secondary Suite Refinance Program (SSRP)—offer distinct approaches to achieving these goals. Here’s an in-depth look at both programs, their pros and cons, and who stands Continue reading
$80,000 Canada Secondary Suite Loan Program 2025 with Low interest rate of 2%: Support for Bold Mortgage Reforms to Tackle Housing Affordability
As Canada continues to face a housing supply crisis, the federal government is rolling out ambitious measures to increase housing availability, support homeowners, and make housing more affordable for every generation. Among the highlights of the 2024 Fall Economic Statement are enhanced programs to help homeowners build secondary suites and sweeping reforms to mortgage rules Continue reading
7 Affordable Cities in B.C. and the Income You Need for a Simple Lifestyle
Living in British Columbia offers breathtaking landscapes and exciting adventures, but the high cost of living, especially in cities like Vancouver, can be a major deterrent. Fortunately, there are other cities in the province where you can enjoy the charm of the West Coast without breaking the bank. Thanks to the 2024 Living Wage BC Continue reading
Mortgage Rate Forecast Trends in 2025: What You Need to Know About Falling Rates
Early holiday gift for Canadians as the Bank of Canada (BoC) announced a Santa-sized rate cut of 0.50%, reducing its policy rate to 3.25%. This follows the earlier trend of monetary easing that began in June 2024. Most bank prime rates are now expected to drop to 5.45% (from 5.95%), offering some relief to borrowers. Continue reading