I'm obsessed with Shameless on Netflix

Basically the title.

I live in manitoba right now. I'd like to buy a house in alberta in 5 years after saving money but it won'tbe enough to purchase a house without a loan. I have a full time job right now but unless I go into a different position at my company it's not a work from home position ( though I can wfh on random days like during snow storms etc)

So basically if I move to alberta I'm losing my job. If banks find out, I assume they won't approve a mortgage.

I figured maybe ppl find a job first and then look for a house in the area but I don't really want to be too limited into an area as this is going to be my forever home.

How do ppl manage to do this?

Hi everyone,

My partner(not spouse) and I are planning to invest in a duplex in Alberta. Neither of us owns any property in Canada. Our strategy is to live in one unit of the duplex for 2 years, then either flip the property or buy another and repeat the process. We're considering starting a corporation to manage this investment properly, and we're based in Toronto. Can anyone with experience in Alberta real estate investing provide insights on:

1. The pros and cons of incorporating for this type of investment strategy?
2. Legal considerations for duplex ownership and potential flipping in Alberta?
3. Tax implications of living in one unit while renting the other?
4. Any specific regulations or requirements for duplex investments in Alberta we should be aware of?
5. Recommendations for structuring our partnership and investment to maximize benefits and minimize risks?

Is this a viable option? What are the pros and cons for anyone who has gone through a similar experience? Any advice or resources would be greatly appreciated! Apologies if the above questions sounds dumb.

So I've been researching alot and I have read everything you can imagine. Alot of people say house prices will stay strong and go up regardless and alot of people say we're going to be in a recession with lack of jobs and noone will be able to buy or sell a home. To be clear I plan to keep my property long term as rentals so I'm not overly concerned , but I am very curious . What does everyone think will happen to the market with this tariff BS happening? It can't be good for the economy. But are we really going into great depression #2 or will this blow over. Canada is strong and resilient so I truthfully believe we can survive almost anything but interested to hear your opinions !!! Cheers

Is this a thing? I saw a house I adore! I was planning on selling within the year but if I start this process because I want this house can I do this? First time sellers.

Thanks!

Hi everyone,

I purchased a townhouse pre-sale from Vancouver, but due to circumstances, I may not be able to move in. The assignment fee was originally set at 3%.

My realtor told me that I only need to pay the buyer’s agent commission and the 3% assignment fee to the developer.

Is my realtor just being really nice, or is it because the developer charges a high assignment fee but handles the process for us?

I’m new to this industry and this is my first time dealing with a home sale, so I’m feeling a bit overwhelmed and wanted to ask for some advice. Any insights would be really helpful!

Thanks in advance!

Hi All,

I closed our first pre-construction condo in Calgary in December 2024 with 20 percent down payment . Right after that, I passed it to a rental company, so the pre-construction property is now rented. My family and my income are based in Toronto, and we live in a rental apartment. After closing the pre-construction residential condo, are there something that we need to take care of and how long do you have to live in it before renting it out without the CRA coming after you?TIA

My partner and I bought a condo in BC and subjects were removed about a month ago with the closing date coming soon. Unfortunately, things are really shaking between us and this big step showed a lot of things that we need to divorce. We paid $45 k of down payment already and our mortgage is finalized and approved. If we cancel the agreement who do we need to pay penalty to? There are many people making money of this purchase and I assume if we cancel those people need to be compensated?

Realtor Seller Mortgage broker Lawyer

Hi, I'm a first time home buying which just finished dropping subjects on a new home! We put down our deposit and everything is great. Next thing I know my realtor is sending me a link for verifying my identity and source of funds. This is a webform from a website called "reallytrusted" where I need to upload pictures of ID, Selfies, Bank Account Details etc. This came on suddenly and made me nervous as I am very careful with what I put online. I couldn't find too much discussion about this online so thought I'd ask here. Is anyone familiar with this process and company? I understand it's part of FINTRAC and Anti-money laundering protocols which is great - I just want to ease my mind a little.

Thanks!

edit: This is in BC

I just saw a duplex in north van which was listed at 2.65 plus gst. for a fkin duplex!! There should be a way to shit talk houses. Like redfin but with a comment section.

Thoughts? Should I build this?

Estate Brew: Canadian Real Estate Market Recap 2024

Your comprehensive digest of key developments in Canada's real estate landscape.

Market Overview

Sales Activity: The Canadian housing market exhibited signs of recovery in 2024, with home resales projected to rebound by 9.2% year-over-year to 484,400 units. This uptick partially reverses the significant declines experienced in 2022 and 2023.

Investment Surge: Investment volumes in Q2 2024 surged by 67.4% quarter-over-quarter, reaching $14.5 billion—the highest quarterly total since 2022. The number of transactions also hit a nine-quarter high, indicating renewed investor confidence.

Regional Highlights

Yukon: The territory experienced rising property values and evolving rental trends, particularly in Whitehorse, reflecting dynamic market activity.

Revelstoke, BC: This small ski town is emerging as a prominent resort destination, with significant property market growth driven by new developments and increased international interest.

Rental Market Dynamics

Toronto Condo Rentals: The shadow inventory of condominiums rented out by owners in the Toronto census metropolitan area rose by almost 24,700 units year-over-year, reaching 207,925 as of October 2024. This means 41% of Toronto condos were on the rental market, indicating a significant shift in rental dynamics.

Challenges Ahead

Affordability Crisis: Despite anticipated interest rate cuts, Canada's housing affordability crisis is expected to persist due to high home prices, stagnant wages, and increased demand from immigration.

Mortgage Structure: The Bank of Canada emphasized that changes to the mortgage structure alone will not resolve affordability issues, highlighting the need for a better balance between housing supply and demand.

Policy and Economic Factors

Interest Rates: The Bank of Canada is expected to begin cutting the policy rate by mid-2024, continuing into 2025, which may support housing prices.

Government Initiatives: In response to the housing crisis, the federal government has announced plans to increase spending in 2024 to support the slowing economy and booming population, which could impact the housing market.

Looking Forward

As 2024 concluded, the Canadian housing market followed its typical seasonal trend, slowing in December after an active fall. While sales activity dipped slightly, the market showed significant strength in the final quarter of the year.

Stay tuned for more updates as we continue to monitor the evolving landscape of Canada's real estate market.

All the links and writers note have been removed so automod doesn't flag it you can google estate brew real-estate newsletter it will comeup i think

If you’re a landlord, just wanted to ask How do you find tenants for your property especially in the GTA?And any tips to screen tenants/ tools to property manage?

Attention condo owners! Would respectfully like to ask about your experience with special levies/assessments, please

How old is your building, and how many levies have you paid/how much? I'm trying to determine what's an 'average' amount of levies considering the age, and how much I should have in my savings for when I eventually get my own place

Maybe a stupid question. I'm a seasonal worker, and I do fairly well, but my next job isn't until March, so I'm just wondering if there's any percentage I can put down that would make a lender even give me the time of day.

My bank want me to find the mls listing of my house for heloc. I bought the house 6 years ago. How do i find i.

What does it mean when a listing is sold "as is where is"

Does this mean all the contents in there are being sold with it?
does this mean no budging on price listed?
regardless of any foundation damage?
water leakage?
etc?

I found a house I really liked and wanted to talk to a realtor about it, but as this would be my first house, I'm unsure what a lot of these things mean. My dad, who used to manage buildings and rent out apartments back in Saskatchewan, also did not know what it means.

It is also about 10K above what I think I'm comfortable going for in a mortgage. So if this means, they won't budge on the price even if there are significant repairs. I'd rather not go through the hassle of trying to purchase and suddenly get turned around because I did not understand what they meant lmao

I recently sold my condo. There were 2 writs on my property. When the sale closed, there was a shortfall and one of the lenders covered the shortfall and took a loss. Deal done 3 weeks ago. No money in my pocket but the matter is done. Now my lawyer is saying they only paid one writ and they were not aware of the second writ (I just assumed both were being paid because the amount, but one had legal fees so it seemed larger). Now the lawyer for 2nd writ is going after my lawyer for payment as they should have been paid out. My lawyer is demanding I come up with the money, which I don't have. What can happen in this situation? Other than being told I have a balance owing, what else can they do but ask me to pay and look for another avenue to collect? Does the lawyer have any liability for not looking for the writ?

Hey everyone! I’m a realtor based in British Columbia, specifically serving the Lower Mainland ( Vancouver, Surrey, Burnaby, Richmond, Langley, Delta, Coquitlam, New Westminster, West Vancouver, North Vancouver). I’m new to Reddit, but I’d love to help answer any questions you might have about real estate – whether it's about buying, selling, navigating agencies, or anything else on your mind. Feel free to ask away, and I’ll do my best to provide some insights!

Now that trump has basically confirmed the taxes for saturday, im looking for some insight, not a direct answer obviously, into what will happen to our housing market, particularly low res homes. The US not wanting our Lumber should mean that local prices will go down due to excess supply, which makes construction cheaper, and since the CAD will be worth the same as a piece of lint in the near future, i'm thinking of timing the market because i have been wanting to buy property for a while now. What implications do the tariffs have for real estate development companies?

Hello everyone,

I'm in a challenging situation with the sale of my condo in Quebec, and I’d appreciate some advice. Here’s a brief overview:

I accepted a buyer’s offer to purchase my condo, contingent upon them securing financing. We received final approval for a mortgage from Scotiabank on December 23, 2024. With assurance that the sale would proceed, I moved forward with purchasing a new home and finalized all necessary preparations for the move.

However, just two days before the scheduled notary date, on January 28, 2025, I received a notice from Scotiabank stating that the buyer's mortgage application had actually been denied due to their total debt servicing ratios not meeting the bank's requirements. This abrupt withdrawal left me with significant financial burdens as I now have to maintain the unsold property while also managing my new home expenses.

A lawyer advised me to obtain confirmation of the buyer's withdrawal in writing, which could be useful for potential recourse. Meanwhile, my real estate agent has indicated we could start seeking other buyers.

I’m wondering if there’s any avenue to seek compensation for these unexpected expenses, whether from the buyer or even the bank, and how best to proceed. Any insights or advice would be greatly appreciated.

Thank you in advance!

My girlfriend and I are looking at older homes to potentially buy and renovate. There’s one in particular that we disagree on, and I’d love to get an outside opinion.

Our debate is about the home's resale value after renovations. She believes the current floor plan would limit the property's value, even with updates. I proposed some changes, but she still thinks they wouldn't be enough and that the house would sell for significantly less due to its layout.

For context, the house was built in 1977 and needs major updates. The first floor would remain mostly unchanged aside from modernizing finishes. I’d like to know if you think the proposed floor plan is a dealbreaker and whether it would significantly impact the return on investment.(the SQ/FT is accurate but i don't have the actual measurements, it's likely off)

https://preview.redd.it/f5y839kl9ege1.png?width=863&format=png&auto=webp&s=76491da242c5a78175ab14bd49d915e6afb49e6f

https://preview.redd.it/xoxbftbv9ege1.png?width=1153&format=png&auto=webp&s=2c0566efa1f0b73f65c0c1053e7306be7a867750

https://preview.redd.it/0hs7kilz9ege1.png?width=1250&format=png&auto=webp&s=8ffc7083bff279bf3cad9742f67d701b63f9a7b2

This is a long shot but my company received commission from them and I have no idea where this was sent from

I'm looking for ideas on where to reinvest some money.

I'm in the GTA, near Markham.

I have property that is being expropriated this summer. I haven't been given a final price yet. I will have two years from then to buy a replacement property or I have to pay capital gains tax. So I have at least 2.5 years to find a replacement.

It is a rental property. I have owned several and I am comfortable being a landlord and doing maintenance. I have renovation skills, but I'm not looking to flip property. Too much work, haha.

So I'm looking for what can give me the best returns for say a ten year horizon. I'm getting close to retirement.

I will hopefully have $1.5m to invest. I'm probably going to put money down and borrow so the property(s) break even. I'm not looking for cash flow.

I was thinking multi residential housing, but I'm not going to get very much for $1.5 -$3m. Probably a house that is chopped up into apartments.

I'm looking in Markham or north east of the GTA.

Thanks in advance

Which areas just outa9de of ottawa are ideal for a first time home buyer with a budget under $400k

Hi, I’m a student taking an entrepreneurship challenge at Western and I have a few questions about this industry as I'm exploring solutions for it.

From what I’ve seen and heard, many people are looking to buy houses without an agent, and listing agents obviously want to maximize their clients’ home prices and their commissions. I am wondering if there is interest in a home marketplace for unrepresented buyers. My idea proposes a new commission structure.

It appears that, generally, there is a 2.5% commission for the selling agent and a 2.5% commission for the buying agent. By cutting out the buying agent and increasing the selling agent’s commission to 3–4%, everyone theoretically benefits—the buyer pays less, and the listing agents receive higher commissions. In exchange, the listing agent would pay a marketplace fee and be required to offer house showings.

If you have any opinions, i'd love to hear them as I need at least 10 for the project.