Fifty-two per cent of single Canadians said economic uncertainty and expensive home prices are the biggest factors in their decision not to purchase a home, according to a recent Re/Max survey conducted by Leger.
Real estate affordability and land supply are the No. 1 concern of developers, lenders and other real estate industry people interviewed for a new report by PwC Canada and the Urban Land Institute (ULI).
While monthly mortgage payments will indisputably take up the largest chunk of a homeowner's shelter budget, the costs for utilities and property taxes are also important considerations for prospective home purchasers.
While every province charges LTT or some form of property transfer fee, depending on the tax structure, buyers may pay anywhere from a few hundred dollars to tens of thousands in addition to their home purchase.
A new CIBC poll says Canadians who own a rental property earn about $2,189/month – 50 per cent more than their monthly costs – and those who rent out space in their home offset their housing costs by 70 per cent.
REM (Real Estate Magazine) is Canada’s premier monthly magazine for real estate professionals. REALTORS®, real estate agents, sales representatives, brokers, owners, administrators, and other real estate industry stakeholders read REM every month for news, analysis, and commentary on Canadian real estate.
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