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How will the foreign homebuyers two-year ban create new home buying opportunities for Canadians?

The Government of Canada ban on foreign home investors from buying property in Canada took effect on January 1st, 2023.


What you need to know.


The two-year ban, targeting prospective foreign home buyers will no longer be able to purchase real estate that includes condos, apartments, and single residential units – as well as higher taxes for investors who let their homes sit vacant.


The main focus of the ban is to restrict foreign home investors from purchasing real estate where there is no intention of living in them. Thus causing a shortage of available inventory and driving up real estate prices for Canadians. Toronto alone has approximately 5% of homes sitting vacant, Therefore, this could be significant for buyers waiting to get into the real estate market.


These measures could provide some temporary relief in a very tight market – particularly combined with measures presented by the Ontario government to dampen the market, like making blind bidding optional


With this...

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As 2022 comes to quite an eventful close, The Sue Heddle Homes team looks back at some of the most-read blogs that inspired our readers the most. 


As your trusted source of reliable and relevant real estate information, we thank you for following and please stay tuned into all that is new and inspiring in 2023. Happy New Year!


Top Blog Picks of 2022:


1. Buyer’s Market: Making Homeownership A Reality In Today’s Market


2. What You Need to Know About the New First Home Savings Account


3. How to Manage Current Interest Rates To Buy Your Dream Home


4. Future Planning: What's In Store for 2023


5. Three Ways To Improve Your Home


6. 5 Design Trends Coming In Vintage For 2023


7. How To Sell When You Have Pets


8. 5 Ways Sue Heddle Homes Can Help You Sell Your Home


For more in-the-know advice, take a look at the complete Sue Heddle Homes blog library, which includes more helpful tips and inspiration for homeowners, sellers, and buyers.


Working...

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The current real estate market could be described as a “Buyer’s Market”, due in large part to high-interest rates and inflation tempering home prices considerably from the 2021 peak.



However, purchasing a home is no easy endeavor and will be the most significant investment a buyer will ever make in their life. The main factors for buyers that will NEVER change will be Affordability, Where, and How to make the dream a reality.  


The right time to buy a home depends on the right time for the buyer. Sue Heddle Homes is here to help buyers find the best route to achieve home ownership, whether it is for the first time or for the 7th! Let Sue be your guide through the home-buying process. 

Home Buying Q&A


Question: Is there a right/wrong time to buy a property?

Answer:Yes and No! It all depends on personal milestones.


Some buyers are sick of renting and want to build home equity vs giving it to a landlord, others have saved until they have an appropriate...

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What You Need to Know About the New First Home Savings Account

As part of the 2022 federal budget, the Canadian government wants to provide initiatives designed to make homeownership more affordable. One way they plan to accomplish this is with the new First Home Savings Account (FHSA).


Aimed at first time home buyers, this new program will give prospective homeowners some tax relief as well as make it easier for them to achieve their homeownership goals. The FHSA does not replace the RRSP Home Buyer's Plan that already exists, however, it’s important to note that the two programs cannot be used in tandem. While the RRSP Home Buyer's Plan requires withdrawals from the account to be repaid, the FHSA does not.

Learn More About First Home Savings Accounts

First Home Savings Accounts are expected to be available in 2023. There will be eligibility requirements, as well as rules and conditions, so it’s best to consult with a mortgage broker or financial institution to determine if and how you can make this new option work for you.

In the meantime,...

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3 Things to Ignore When Buying a Home

When you’re searching for a home, making appointments to view listings can feel really exciting. You start to imagine yourself in these new spaces and it’s hard not to personalize things as soon as you set foot in a home that caught your eye.


As a top Oakville realtor for over a decade, I’ve certainly seen potential buyer’s excitement turn to disappointment when they finally get the chance to tour a listing that they were interested in. When you’re touring homes for sale, it really is important to keep an open mind, which can sometimes be easier said than done.

What’s Okay to Ignore When Looking for A Home?

Not to worry, as a trusted and experienced Oakville realtor, I’ll always make sure that important concerns are never overlooked. Things like electrical or structural issues, disrepair, or evidence of leaks certainly require attention and may be a reason to forgo putting in an offer on a home. 


However, there are three...

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