Terminology Tuesday: Chattels

In real estate, the term “chattels” refers to items that are not permanently attached to a property and can be removed without damaging the home. In simple terms, they’re the things you can pick up and take with you when you move.

Common examples of chattels include appliances like refrigerators, stoves, washers and dryers (unless built-in), as well as furniture, area rugs, and even things like window coverings if they’re not permanently installed. Because chattels are considered personal property—not part of the real estate itself—they are not automatically included in a sale unless specifically written into the agreement.

This is where things can get important for both buyers and sellers. If a buyer falls in love with a particular item—say, a sleek stainless steel fridge or custom bar stools—they need to make sure it’s listed as an included chattel in the Agreement of Purchase and Sale. On the flip side, sellers should clearly identify anything they intend to take with them to avoid misunderstandings.

The key takeaway? Don’t assume anything. In real estate, what stays and what goes should always be clearly spelled out in writing—because when it comes to chattels, if it’s not included, it’s not coming with the house. 

Market Media Monday - March 30, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ Canadian Real Estate’s Biggest Crash Since The ‘90s To Worsen: BMO ]
"Canadian real estate’s downturn shows no signs of reversing, according to a Big Six bank. BMO Capital Markets is warning investors that home prices haven’t moved in nearly a decade, once adjusted for inflation. Now in the middle of the largest correction since the 90s, the bank sees inflation accelerating in the coming months, eroding real prices further."

[ TD cuts housing forecast but warns pent-up demand could be ‘unleashed faster or more forcefully than expected’ ]
"The buyers are out there. They’re just waiting. And according to a new TD Economics report released Thursday, the window for winning them over may finally be opening. Economist Rishi Sondhi says a pool of pent-up demand is waiting in the wings in markets across Canada, particularly in Ontario and B.C., and that improved economic conditions and affordability gains could help unlock it heading into 2027."

[ Ontario’s budget banks on a housing resale rebound in 2026 — but real estate players aren’t so sure ]
"The Ontario government is budgeting on a housing resale market rebound this coming year, with its new fiscal plan counting on more homes changing hands and hundreds of millions of dollars more revenue from land transfer taxes."

[ 9 Tips for a Successful Mortgage Renewal in Canada ]
"Renewing your mortgage can significantly impact your financial situation. Whether you’re a first-time buyer or a seasoned homeowner, assessing your options when your mortgage is up for renewal and shopping for the best rates is critical to saving money over the life of your mortgage. Read on for valuable tips and advice for your next mortgage renewal."

[ Mortgage affordability worsens in most major Canadian cities, report says ]
"It became harder for Canadians in most major cities to afford a mortgage in February, a new report by Ratehub.ca found on Thursday."

[ Why waiting to lock in your variable rate often backfires ]
"One of the biggest draws of variable-rate mortgages is that they give you options. For starters, variable mortgage prepayment penalties are generally cheaper than their fixed-rate counterparts."

Market Media Monday - March 23, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ Home sales, listings and prices down nationally, says CREA ]
"The latest real estate numbers are out and they paint a picture of a Canadian housing market on a downward slide. By most measures in Canada, real estate is down. According to the Canadian Real Estate Association (CREA), there are fewer sales and prices are declining in February from the previous month."

[ Home purchased for nearly $1M sells at 45% loss in southern Ontario ]
"Hamilton has seen price declines in the last year or more. Last month, it was one of five major cities that saw a decline in prices year-over-year, according to a House Price Index report from Wahi, a Canadian real estate platform, and Real Property Solutions, a Canadian provider of property valuation services. Hamilton’s price index was down six per cent last month."

[ The Bank of Canada is holding its interest rate. For now ]
"The Bank of Canada (BoC) announced it is holding its interest rate steady at 2.25%. The March 18 decision is the second rate hold of 2026 as the BoC also held its rate in January. TD Economist Maria Solovieva said that inflation is currently within the BoC’s target of 1-3%, and while GDP growth is muted, it’s still within a reasonable range. Even with tariffs, the economy is still chugging along for now."

[ Mortgage Digest: Bond yield spike drives latest fixed mortgage rate hikes of up to 30 bps ]
"Canadian fixed mortgage rates have moved decisively higher, with lenders rolling out increases of up to 30 basis points as bond yields continue their rapid climb."

[ Bank of Canada Interest Rate Explained and How It Shapes Your Mortgage ]
"The Bank of Canada’s policy rate, also known as the overnight rate, plays a critical role in shaping the financial landscape of the country. It directly influences borrowing costs, including mortgage rates, and can have a significant impact on homeowners and prospective buyers. Understanding how changes in the policy rate affect your mortgage is essential for managing your finances effectively."

Terminology Tuesday: Amortization

If you’ve ever looked at a mortgage breakdown and wondered why most of your early payments seem to go toward interest rather than the loan itself, you’re already brushing up against the concept of amortization.

Amortization refers to the total length of time it takes to pay off your mortgage in full, assuming regular payments and a consistent interest rate. In Canada, the most common amortization period is 25 years, though longer or shorter options may be available.

Here’s how it works: your mortgage payment is structured so that you pay both principal (the amount you borrowed) and interest (the cost of borrowing) with each payment. However, in the early years of the mortgage, a larger portion of your payment goes toward interest. Over time, that balance gradually shifts, and more of each payment starts reducing the principal.

Think of amortization as the timeline of your debt payoff. A longer amortization period (like 30 years) typically means lower monthly payments, but you’ll pay more interest overall. A shorter amortization (like 20 years) increases your monthly payment but helps you save significantly on interest and become mortgage-free sooner.

It’s also important not to confuse amortization with your mortgage term. The term is the length of your contract with a lender (often 3–5 years), while amortization is the full schedule to pay off the loan.

Understanding amortization helps you make smarter decisions about your mortgage—whether you’re buying your first home or planning how to pay it off faster.

Market Media Monday - March 16, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ CMHC reports February housing starts up 4.5 per cent from January ]
"Canada Mortgage and Housing Corp. says the annual pace of housing starts rose 4.5 per cent in February. The national housing agency said the seasonally adjusted annual rate of housing starts was 250,900 units in February compared with 240,148 units in January."

[ Canada inflation cools as Iran war clouds next BoC move ]
"Canada’s inflation downshift in February landed at exactly the moment policymakers least wanted a surprise. Annual CPI eased to 1.8%, undercutting economist expectations of 1.9% and moving below the Bank of Canada’s 2% target just as the Iran war pushed global oil prices sharply higher."

[ Homeowners with stronger credit scores are increasingly defaulting on mortgage payments ]
"Homeowners with stronger credit scores are increasingly defaulting on their mortgage payments, an alarming trend that reveals the impact of higher mortgage rates on traditionally lower-risk borrowers."

When will I actually get the keys?

You've bought your next house and you're excited because the big day is coming.  But now you have to plan and coordinate the move.  And of course, one of the most usual questions is: when will I actually get the keys for the new place?

This can vary a bit, depending on a number of factors.  In my experience, the transaction often closes by noon and you can get your keys.  The lawyers typically have everything all set to go a couple days before closing, so it's usually a relatively smooth process.  Of course, surprises do sometimes pop up that need to be dealt with on the fly, but these are usually addressed by the title search date.

And even if there are no problems, the closing is dependent on the lawyer receiving the money from your mortgage company.  Some lenders are better at being prompt than others.  Or if you're selling as well as buying, and you require the proceeds of the sale toward the purchase, then the lawyer could be held up waiting for your sale to close before closing your purchase.  Which also could be held up by the other buyer's mortgage lender, among other things.

The standard wording in the Ontario Real Estate Association's Agreement of Purchase and Sale requires the deal to close "no later than 6:00pm".  So, while you will often have the keys earlier in the day, it's safest to be prepared to wait until the end of the business day, around 4:30 or 5:00pm.  I have occasionally seen them squeak through that late.  You just hope it doesn't get held over to the next day... It doesn't happen often, but it's not impossible.

Terminology Tuesday: FINTRAC

FINTRAC stands for the Financial Transactions and Reports Analysis Centre of Canada. It is Canada’s financial intelligence unit, responsible for detecting, preventing, and deterring money laundering and terrorist financing. In the real estate world, FINTRAC regulations require brokerages and real estate professionals to verify client identities, keep specific records, and report certain types of transactions.

If you’ve bought or sold property in Canada, you’ve likely been asked to provide identification and answer questions about the source of your funds. That process isn’t random — it’s part of the federal anti-money laundering and terrorist financing regulations overseen by FINTRAC.

For buyers and sellers, this often means:

• Providing valid government-issued photo ID
• Confirming whether you’re acting on your own behalf or for someone else
• Disclosing beneficial ownership information (in certain cases)
• Answering questions about large cash transactions or unusual payment structures
  
• Confirming whether you are a Politically Exposed Person or a Head of International Organization

While it can sometimes feel like extra paperwork, these requirements help protect the integrity of Canada’s housing market. Real estate has historically been a target for money laundering, and FINTRAC’s oversight is designed to increase transparency and accountability across the industry.

In short, when your REALTOR® asks for identification or additional documentation, it’s not about inconvenience — it’s about compliance with federal law and protecting both clients and the broader real estate market.

Market Media Monday - March 2, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ Canada's housing market suffers largest price decline among major economies, says BIS ]
"Canada’s residential housing market has experienced the largest decline in housing prices among similar advanced economies, according to the Bank for International Settlements (BIS)."

[ TD sees muted housing rebound as BoC pauses ]
"TD Economics’ latest outlook painted a cooler picture for Canada’s housing market, even as it argued the Bank of Canada is likely to sit tight at a 2.25% policy rate. Chief economist Beata Caranci said the mortgage “renewal cliff” has turned into “looking like a hill,” but warned that softer demand and regional imbalances still weighs on any recovery."

[ ‘We need market certainty’: Just 269 new homes sold in Toronto region last month ]
"Only 269 new homes sold in the Toronto area last month despite record high levels of inventory, a new report states. The data, compiled by the Building Industry and Land Development Association (BILD)’s Altus Group, indicates that new home sales in January were down 36 per cent from last January and are 80 per cent below the 10-year average."

[ Canada's industrial real estate markets on different trajectories ]
"Canada’s industrial real estate markets are advancing at an uneven pace, with some regions more acutely affected by ongoing trade disruptions and others showing greater resilience, according to Royal LePage’s 2026 Commercial Real Estate Report."

The Importance of a Mortgage Pre-Approval

Before you start house hunting, one of the smartest first steps you can take is securing a mortgage pre-approval. While it’s not a guarantee of final financing, a pre-approval gives you a clear picture of what you can afford and positions you as a more confident, prepared buyer in a competitive market.

A proper mortgage pre-approval involves a lender reviewing your income, credit history, debts, and down payment to determine the price range they’re willing to lend — often locking in an interest rate for a set period of time. This helps protect you from rate increases while you search and ensures you’re shopping within realistic financial boundaries, avoiding disappointment or overextension.

The pre-approval process may identify missing paperwork so you can take care of getting that ahead of time instead of rushing at the last minute. And if there are any surprise issues with your credit history, you may need to address them first.

From another practical standpoint, pre-approved buyers are also taken more seriously by sellers. When receiving an offer on behalf of a seller client, I certainly always ask the buyer agent where their buyer is with that, making sure they are working with a bank or broker and have got a pre-approval. In multiple-offer situations, a strong pre-approval may strengthen your offer and reduce concerns about financing risk. When paired with guidance from an experienced REALTOR®, it allows you to act quickly and decisively when the right home comes along — a major advantage in any real estate market.

In short, a mortgage pre-approval isn’t just a formality — it’s a powerful planning tool that brings clarity, confidence, and credibility to your home-buying journey.

If you're thinking about buying a home, I can refer you to a great mortgage broker who will look after your best interests. Call or email, and let's get you moving!

Terminology Tuesday: Deposit

When buying a home, one of the first financial steps a buyer makes is providing a deposit — but many people misunderstand what it actually means.

Simply put, a deposit is money the buyer submits when an offer is accepted to show they are serious about purchasing the property. Think of it as a good-faith commitment to move forward with the transaction. In that spirit, in some areas a deposit is called "earnest money" or even "good faith deposit".

The deposit doesn’t go directly into the seller’s pocket, though. Instead, it’s typically held in trust in the listing brokerage's trust account, or by a lawyer if no brokerage is involved, until closing. 

A deposit serves a few important purposes. First, it shows commitment, affirming to the seller that the buyer intends to complete the purchase. Second, this commitment makes the seller more comfortable taking their home off the market as sold. And finally, it's a bit of protection for the seller - if the buyer fails to meet the terms of the agreement without a valid reason, the deposit may be forfeited to the seller as compensation.

One point of terminology confusion is 'deposit' versus 'down payment'. The deposit is paid shortly after the offer is accepted to secure the deal. The down payment is the amount of the purchase price that a buyer is paying on their own, above whatever mortgage they are getting, and is paid on closing. The deposit is simply credited toward the down payment later. 

As for how much a deposit needs to be, there’s no universal number — it varies depending on the market, location, and price of the home. It's often around 5% but can ultimately be whatever is agreed to in the offer negotiation process. In competitive markets, stronger deposits may make an offer more appealing, but the right amount should always fit the buyer’s comfort level and financial plan. A listing also typically includes a requested deposit amount and if the buyer is able to meet that request that is one less point of consideration or potential objection for the seller.

The bottom line is that a deposit is more than just money — it’s a statement of intent. Understanding how it works helps buyers feel more confident and helps sellers feel secure when moving forward with a sale. 

If you’re buying or selling and have questions about deposits or offer terms, always speak with a qualified real estate professional who can explain how it applies in your specific situation.

Market Media Monday - February 23, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ Market Outlook: Canada home prices fall to nearly five-year low in January ]
"Canada’s housing market began 2026 on softer footing, with benchmark home prices falling to their lowest level in almost five years as sales activity declined in January."

[ Most Canadian Provinces See Home Prices Rise, Two Hit Record Highs ]
"Home prices moved lower at the national level, but that reality isn’t aligned with buyers in most provinces. Canadian Real Estate Association (CREA) data shows the price of a typical home fell in January, but most provinces saw prices rise. The decline has been largely confined to BC and Ontario, where weak sales and robust inventory are dragging prices even lower."

[ National real estate association blames Ontario snowstorm for cooling housing sales in January ]
"The Canadian Real Estate Association (CREA) is blaming Old Man Winter as a factor in cool housing sales during the month of January."

[ Mortgage rate outlook: Why experts say the next move could be lower ]
"After a turbulent 2025, mortgage rates are opening the year in a narrow range, but experts say that calm may not last. "

[ Christopher Liew: How much income do you require to become a homeowner in Canada? ]
"An increasing number of people in their 20s and 30s are beginning to feel that homeownership is out of reach. Home prices remain high, mortgage rates are still elevated compared to a few years ago, and other daily living costs continue to squeeze household budgets."

Terminology Tuesday: Status Certificate

In a nutshell or "TLDR", a status certificate is a bundle of information about a condo corporation's finances and governance that a potential unit buyer will want to see before committing to a purchase.

When you purchase a unit in a condominium complex, whether apartment or townhouse, you are buying your specific unit but you are also buying an equal share in the condominium corporation.  Because you are buying into the condo corporation, you need to do some due diligence first.

Condo ownership typically gives you a right to vote in condo meetings on things like rule changes but it also means shared responsibility for corporate obligations and expenses, like maintenance of all the common area (known technically as common elements).  This includes lawn care, snow removal, and in apartment buildings stuff like cleaning and upkeep of hallways and elevators.

This should all be covered by your monthly condominium fees, with a portion also going into a legally-mandated reserve fund which the condo corporation uses to maintain and replace various building components and carry out repairs.  The reserve fund is used for a wide range of items, such as roof replacement, window updates, new carpeting in common areas, and so on.

The condo corporation should be carrying out a professional review of the reserve fund and expected repairs and maintenance, looking into the future by least several years, to make sure the reserve fund is reasonably adequate.  If significant repairs are required that can not be put off and the reserve fund isn't sufficient to pay for them, that is where owners can see special assessments to make up the difference.

Obviously, one of the most important things to consider when looking at a condo purchase is whether the reserve fund is appropriate for the age of the condo complex or building.  New condo developments obviously have smaller reserve funds because they haven't had time to build them up, and repair costs should be fairly minimal in the first few years.  Established condominiums on the other hand should have a healthy reserve fund built up.  But how do you know?

Here enters the "status certificate".  Don't let the name fool you, though.  The name might make you think of a certificate from school and imagine a one-pager.  But a proper status certificate, with the usual attachments, is actually a somewhat thick package of paper (although in modern practice, it's typically requested online, which makes it just a long multi-page file). It should include all the financial information for the condominium, including budget documents, reserve fund information, and whether the unit itself is in arrears or not, and any special assessments.  It also includes a copy of the condominium's by-laws and rules.  If you're interested in reading the source law, the Condominium Act, 1998 spells out the minimum requirements in [ Section 76 ].

When making an offer on a condo, you should include a condition for your lawyer to review the status certificate.  Unless the seller has already requested a copy, you'll have to request one and wait for it to come.  Legally, the condo corporation is supposed to deliver it within 10 day of receiving the written request and payment.  As such, this condition is usually for a couple of weeks.

Once received, your lawyer will review all the documentation and either give a thumbs-up or bring to your attention any points of concern. From there, you can make an informed decision whether to proceed with the purchase or not.

Market Media Monday - February 16, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ Housing market faces possible recession in 2026 amid ‘subdued’ demand: CMHC ]
"Canada’s housing market is expected to stay “subdued” this year amid economic uncertainty stemming from the trade war and U.S. tariffs — with a recession still a possibility. The Canada Mortgage and Housing Corporation released its 2026 housing market outlook Tuesday, which says demand from buyers is expected to “remain below historical averages.”"

[ Christopher Liew: Is it smarter to renew your mortgage for 3 years or 5 years in 2026? ]
"After several years of elevated interest rates and persistent inflation, choosing between a three- or five-year mortgage renewal is weighing on the minds of many homeowners, as even a small difference in your rate can translate into thousands of dollars spent or saved over the life of your mortgage."

[ Why fixed mortgage rates may not move when the Bank of Canada does ]
"Fixed rate mortgages are products that have pricing locked in for a specific period of time. If you have a five-year fixed rate mortgage term, your interest rate and payments are set for the entire term. That means you won’t see any fluctuations in your interest costs, as long as you make all of your regular payments. Rates for these mortgages are based on the bond market, not directly on the BoC’s interest rate. Banks typically use the Government of Canada bond yield as a benchmark for fixed rate mortgage pricing."

[ Ontario city is suddenly one of the most in-demand places for renters in Canada ]
"According to RentCafe.com's latest Renter Interest Report, Hamilton, Ont., recorded the biggest jump this quarter among apartment hunters. The data shows that favourited listings have more than tripled in the city (up 207 per cent), representing the highest increase in the country."

Terminology Tuesday: Appraisal

When buying, selling, or refinancing a home, you may hear the term “appraisal.” An appraisal is a professional, unbiased estimate of a property’s market value conducted by a certified appraiser. Lenders typically require an appraisal to ensure the home is worth the amount being financed.

For lenders, the home acts as collateral for the mortgage. An appraisal helps confirm that the property’s value supports the loan amount. If a buyer agrees to pay $700,000 for a home but the appraisal comes in at $680,000, the lender may only finance based on the lower value. This protects the lender from lending more money than the property is worth.

Appraisals can also be useful outside of purchases. They’re often required when refinancing, settling estates, handling divorces, or determining property value for tax purposes.

During an appraisal, the appraiser visits the property to evaluate its condition, size, features, and location. They will measure the home, take photos, and note things like renovations, upgrades, layout, and overall maintenance.

The appraiser then compares the property to recent sales of similar homes in the same area, often called “comparable sales” or “comps.” Adjustments are made to account for differences such as square footage, lot size, age, and features like garages or finished basements. Using this information, the appraiser prepares a report estimating the home’s current market value.

A house appraisal can be an important step in many real estate transactions. It provides an independent estimate of value that helps lenders, buyers, and sellers make informed decisions. While it may seem like just another item on the buying checklist, the appraisal plays a key role in ensuring that a property’s price reflects its true market value.

Market Media Monday - February 9, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ Canada’s housing market split into ‘two geographies’ ]
"Prices overall in Canada are down amid rising supply and falling demand, but a new report has posited the nation’s real estate picture is actually split in two. The most recent Housing Market Monitor report from National Bank of Canada Capital Markets noted that British Columbia, Ontario and even Alberta represent one half of the market in Canada."

[ Greater Toronto home sales, prices slide in January with more weakness ahead: TRREB ]
"Greater Toronto Area home sales and price weakness is likely to persist for at least the first half of the year, the region’s real estate board said Wednesday. "

[ Douglas Todd: 10 ways to take advantage of Canada’s housing 'correction' ]
"Opinion: What is happening now in urban Canadian housing is an opportunity — for would-be buyers, as well as governments. We can restrict towers, retain existing rentals and more"

[ Bank of Canada Explains Toronto Condos, Describes A Ponzi Scheme ]
"Canada’s largest real estate market runs on speculation, not housing demand. That’s the core message from the Bank of Canada’s (BoC) latest report, outlining the mechanics of a Ponzi scheme, without dropping the P-bomb. They warn that falling investor returns, driven by higher interest rates, now threaten builder models, suggesting these homes aren’t viable as homes—only as financial instruments. "

Terminology Tuesday: Home Inspection

When buying a home, one of the most important steps in the process is the home inspection. A home inspection is a professional, visual examination of a property’s major systems and components. Its purpose is to help buyers understand the condition of the home before completing the purchase.

A qualified home inspector will typically examine key areas of the property, including the roof, foundation, structure, plumbing, electrical systems, heating and cooling systems, insulation, windows, and doors. They will also look for signs of water damage, safety issues, and general wear and tear. The inspection does not involve opening walls or dismantling systems, but it provides a thorough overview of what is visible and accessible.

After the inspection, the inspector provides a detailed written report outlining their findings. This report may include photographs, descriptions of any issues discovered, and recommendations for repairs or further evaluation by specialists if needed.

For buyers, a home inspection provides valuable information and peace of mind. It helps identify potential problems before finalizing the purchase and can give buyers the opportunity to negotiate repairs, request credits, or simply make a more informed decision about the property.

While no home is perfect, a home inspection helps ensure there are no major surprises after moving in. It’s an important step that helps buyers better understand the home they’re about to call their own.

Market Media Monday - February 2, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ Canada’s housing market ended 2025 quietly — here's what buyers and sellers can look for in 2026 ]
"“The quiet finish to 2025 reinforces that this is a negotiation-first market rather than a momentum-driven one,” Fox said. “Buyers shouldn’t expect bidding wars to suddenly reappear just because rates are lower, and sellers shouldn’t assume prices will rebound quickly without concessions.”"

[ Bank of Canada rate decision fuels optimism among property investors ]
"First-time homebuyers and real estate investors should take advantage of the housing market while interest rates are low, mortgage professionals say."

[ Why your 2026 mortgage renewal could jump 40% — or fall by 20% ]
"Upcoming mortgage renewals are expected to have an uneven impact on Canadians in 2026, with households facing either sharp payment increases or meaningful relief."

Terminology Tuesday: Common Elements Condominium

As mentioned last week, you may come across properties that are called "freehold" but also have a condominium element to them, because the house and land are owned but there are also common elements involved. But what does it really mean, and why is it important for buyers, owners, and investors?

In Ontario, common elements refer to the parts of a condominium property that aren’t part of an individual unit and are shared collectively by all owners. This includes spaces like lobbies, hallways, elevators, fitness centres, parking areas, gardens, roofs, and exterior grounds. These shared spaces are owned jointly and managed by the condominium corporation, with all owners contributing through monthly common expense fees for maintenance and repairs.

A Common Elements Condominium (often abbreviated CECC) takes this concept in a slightly different direction. Instead of having individual units, the condominium consists only of common elements that are shared among the owners of parcels of land tied to the condominium ("parcel of tied land"). In these arrangements, owners don’t own a unit inside a building; rather, they own a parcel of land plus a common interest in shared property such as roads, recreation facilities, or landscaped areas.

This type of ownership structure can be especially useful in planned communities where amenities and services—like private roads, parks, and clubhouses—are shared by residents but not physically divided into individual condo units. Regardless of the setup, the basic principle is the same: owners share responsibility for the upkeep and governance of the property through a condominium corporation. This means a monthly condo fee, even though the home itself is freehold.

Understanding common elements and the unique nature of a Common Elements Condominium can help prospective buyers make informed decisions when considering property ownership in one of these neighbourhoods.

Market Media Monday - January 26, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ Real estate market expected to remain 'buyer friendly' ]
"Buyers heading into the spring market have a “meaningful advantage” over last year, namely lower borrowing costs, stable or lower property prices, and choice, Royal LePage president and CEO Phil Soper reports. “Together, these conditions are creating a genuine window of opportunity, particularly for first-time buyers in Canada’s most expensive markets,” he says."

[ What a likely Bank of Canada rate hold means for buyers, sellers and mortgages in 2026 ]
"For buyers, sellers and those renewing their mortgage at the start of 2026, Canada’s housing market faces a very different interest rate environment compared to a year ago, with economists in general agreement that the Bank of Canada (BoC) is likely in a holding pattern."

[ Warren Buffett’s buy-and-hold real estate lesson — and why it still matters for Canadian homeowners ]
"That quiet, steady approach offers an important lesson to Canadian investors — especially at a time when real estate is often treated as a short-term speculation rather than a long-term decision. Here’s where Buffett’s strategy really shows its success, and how it can apply north of the border."

[ Rental market swings back in tenants’ favour with lower prices and move-in incentives ]
"Landlords across Canada are increasingly dangling such incentives, along with other common perks like free parking, waived pet fees and moving allowances, to compete for new tenants. After a post-pandemic surge in rental costs, real estate watchers say the scales have tipped back in favour of renters amid falling prices, higher vacancy rates, and uncertainty in the housing market overall. "

#Terminology Tuesday: Freehold

"Freehold" refers to the form of property ownership where the buyer owns both the building and the land it sits on outright. When you purchase a freehold property, you are not paying ongoing fees to a landlord or condominium corporation for maintenance or ownership of the structure or the land itself. Your ownership is registered on title and continues indefinitely, subject only to laws, zoning, and municipal regulations. Simply put, "freehold" is what most people mean when they say they "own a property."

Freehold properties most commonly include detached homes, semi-detached homes, townhouses (non-condo), and rural properties. As the owner, you are responsible for all maintenance, repairs, insurance, and property taxes. You also generally have more freedom to renovate or modify the property, provided changes comply with local bylaws and building codes in Ontario.

It’s important to note that some properties may be listed as freehold but still have a condominium element and ongoing payment, via a common elements condominium corporation. We'll look at that next week.  

This content was generated with some AI contribution reviewed/edited for accuracy.

Market Media Monday - January 19, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ Trade war jitters send Canadian housing market into year-end slump, CREA reports ]
"The Canadian Real Estate Association expects national home sales to grow 5.1 per cent in 2026, marking a rebound from last year’s tariff-induced slowdown in the market."

[ Canada's luxury home market remains stable as prices hold up ]
"Engel & Völkers has released its 2025 Year-End Canadian Luxury Real Estate Market Report, and it shows Canada’s luxury markets are no longer moving in lockstep. Instead, the luxury market has become much more regionalized, with performance increasingly reflecting local fundamentals, including employment stability, housing supply, investor activity, pricing relative to incomes and lifestyle appeal."

[ Housing starts up 5.6% in 2025 from 2024 ]
"Nationally, the housing starts total for all areas in Canada in 2025 was 259,028, the fifth highest annual total on record and up 5.6% compared to 2024 (245,367). Actual 2025 housing starts in centres of 10,000 population and over were up 6%, with 241,171 units recorded, compared to 227,697 in 2024, according to Canada Mortgage and Housing Corporation (CMHC). These increases were driven by a second consecutive year of record rental housing starts which made up just over half of all housing starts in Canada’s urban centres."

[ Mortgage renewers take note: there's never been a better time to switch lenders ]
"Robert McLister: Record renewal volumes and weak home sales are keeping lenders hungry, discounts are historically strong, flexibility is more important than ever and the menu of mortgage options has never been larger."

Can a REALTOR® help you find a place to rent?

You might be surprised, but yes.  A real estate professional can show you any rental property or unit listed in the local MLS® system and help to write an offer to lease it and typically get paid by the landlord via the listing brokerage, just like when someone is buying a home.  I've helped clients with these from time to time.

The main limitation is that the majority of MLS® listings are for sale, not for rent.  So our selection might be somewhat limited, compared to properties advertised directly by landlords. 

And landlords who are leasing the property themselves are also significantly less inclined to pay any commission than someone selling, so if you want a professional's help on one of these, you might have to pay your agent's commission yourself.  A typical commission is half a month's rent.

Many real estate agents don't actively pursue rental business, and some simply refuse it, because the work involved is the same as a property sale (if not more sometimes) for significantly less money.  It sounds cold, but it's true. 

Personally, I'm willing to work with rental clients, so if you know someone who's looking to rent, I'd be happy to have a conversation with them and show them anything that might be suitable within the MLS® listing inventory as a starting point. 

There might not be anything available that fits, but you never know... there just might be something there for them.

#Terminology Tuesday: Title Insurance

Title Insurance is a one-time insurance policy that protects homeowners and lenders against certain problems related to a property’s title or ownership. In Canada, it is commonly purchased when buying or refinancing a home and remains in effect for as long as you own the property. Unlike most insurance, there are no ongoing premiums.

This coverage can protect against issues such as title fraud, errors or omissions in public records, unknown liens, encroachments, zoning or building permit problems, and mistakes made during the closing process. If a covered issue arises, the policy can help pay legal costs and financial losses, providing peace of mind long after the transaction is complete.

Title Insurance does not replace a lawyer’s role in a real estate transaction; instead, it works alongside legal due diligence as an added layer of protection. For many homeowners, it offers a cost-effective safeguard against risks that may not be discoverable at the time of purchase but could be expensive to resolve later, without the need to a property survey.

[ Read more on the Financial Services Regulatory Authority of Ontario's site. ]

This content was generated with AI assistance and reviewed/edited for accuracy.

Market Media Monday - January 12, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ Sales in Canadian housing market, including GTA, saw drop not seen in decades ]
"According to the Toronto Regional Real Estate Board (TRREB), there were 62,433 home sales in the GTA last year, down 11.2% when compared to 2024. In fact, the GTA hasn’t seen a number this low since 2000, when 60,783 properties traded hands."

[ ‘It’s going to get worse in Ontario:’ Here’s what experts predict will happen to the housing market in 2026 ]
"While some real estate firms are predicting slight rises in home prices in major markets across the country this coming year, several cities in Ontario and British Columbia are not included in those hopeful predictions."

[ Recreational property markets stabilize as domestic purchasers return ]
"As the turbulent headwinds associated with COVID-19 continue to subside, recreational real estate agents across B.C. and Alberta are welcoming a return to consistency that’s being driven largely by domestic investment."