Top 10 Largest Real Estate Companies in Canada

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Are you interested in learning more about the real estate topics? Here we will be highlighting the Top 10 Largest Real Estate Companies in Canada. Grab useful information on the best performers in the dynamic real estate world.

Real Estate in Canada

Real estate has and will continue to be a great investment especially in an immigration friendly country like Canada. The exciting part about this business is that the risk is very low. To invest in real estate, you will need a credible, knowledgeable and skilled agent. There are several real estate agents in Canada but the fear of not falling into the wrong hands can be a hindrance.

Canada has in store some of the largest real estate companies, and their real estate sector has contributed immensely to the economic growth in Canada.

To be a good real estate agent requires you to have good knowledge of the business and also great skills. For these reasons, we have taken enough time to compile a list of the top real estate companies in Canada.

Top 10 Real Estate Companies in Canada

Take your time to read through this interesting list to have more knowledge about the top real estate companies in Canada. And yes, these are not in any sequential order. We just picked the most popular and the largest Canadian real estate companies.

1. Onni Group

This well-known real estate company has maintained being on the top list of best real estate companies for over five decades. They are greatly known for their unprecedented condo homes and commercial properties. Their development of residence so far is more than 15000 and they own various properties in different parts of North America, places like Vancouver, Ontario cities, etc. Onni offices are situated in various parts of Canada, Seattle, Toronto, British Columbia, Los Angeles, and other areas.

Their goal is to develop top-notch urban towns in the world coupled with great sustainability and innovative designs. One thing that has made them stand out is their ability to develop principles on green architecture. Also, the materials and equipment used by this company are native and energy-saving respectively.

Their great teams are also worth mentioning as they are well trained and skilled in this field. Some of their record-breaking projects are Gilmore Place, Cambie Gardens, Riva, Fortunate at Fort York, Atria west and lots more.

2. Westcorp Property Management Inc

This company has been around for over three decades which has made them more conversant with the needs and tastes of their clients. Their services include commercial, residential, retail, office and hospitality real estate. Westcorp Property Management Inc is well known in the commercial sector of real estate in Canada for its exceptional sales. Whitehall Square, Victoria Plaza, The Milner, Downtown Hotel, and Baywood Park are some of their projects in Canada.

Over the years this company has been able to enhance its service which has made them become one of the best in Canadian real estate.

3. Mattamy Homes

When referring to some of the privately-owned real estate development firms in Canada that make the most profit, Mattamy is one of them. Mattamy owns real estate assets in different parts of the country like the Greater Toronto Area and Calgary as well as certain parts of the United States of America.

Some of Mattamy's projects include 360 condo and Vita on the lake. This business has been able to provide jobs to many and has also offered real estate services to different clients in various areas of Canada. One of their goals is to provide an eco-friendly home, and green building material and to motivate the use of smart technologies.

4. Westbank Corp

The company headquarter is located in Vancouver and is one of the top real estate development companies in Canada which also have an international footprint. The company has luxury assets in both commercial and residential skyscrapers. Its reputation in the commercial real estate business, particularly in Calgary, is still being built.

Westbank Corp dares to be different from other real estate companies with their exceptional artistry projects. That's one of the things that has grabbed the attention of many towards this real estate company. They are known to be the largest LEED Platinum developer in the world. Some of their projects are Shangri-La, Bank of Italy, Telus Garden and The Butterfly and 188 Keefer St.

5. Pinnacle International

It is one of the leading real estate companies in Canada known for developing luxury commercial, hotels and residential buildings. Over the years the company has been able to create thousands of residences and help to improve different areas in the country.

With each of their projects, they have provided great design in terms of architecture and interior as well as deluxe amenities. This has helped them remain one of the best in the real estate market. 33 Bay, Pinnacle Grand Prix, The Prestige and The Sorrento are some of their projects.

6. Tridel

It is one of the largest and oldest real estate companies in Canada with its headquarter in Toronto. The company was founded by Jack DelZottto in 1934. This company has developed thousands of houses in Canada as well as wonderful communities. The Westerly, Queen & Church and Aqualuna are part of their projects.

7. Canadian Brookfield

This is a company that provides infrastructure solutions, private equity, management, credit and real estate investment which is globally recognized. So, it has landed in our list of top real estate companies in Canada.

8. The Daniels Corporation

This reputable real estate company has more dominance in Thornhill, Toronto, Mississauga and Brampton real estate markets. Their commitment to quality construction, innovative design and sustainability has been their hedge over others in the industry. Kilgour Estates, Artworks Tower and High Park Condos are some projects from them.

9. Sorbara Group Of Companies

This is a real estate company that also provides property management, investment and construction. Their focus on growth has helped them to penetrate the real estate market. 210 Simcoe and 400 Wellington are some of their previous projects.

10. Firstservice Corporation

For more than 20 years this real estate company has provided excellent experience and service to their clients. The satisfaction of their client has been their goal and concern which has helped with revenue generation and building reputation.

You may also like to discover 10 Steps to Build a Successful Home Renovation Business in Canada

Real Estate Companies in Canada

Whether you want to invest in real estate or planning to get your dream home in Canada, you will come across the company names added above. They have proven to be reputable companies with their various projects and contributions to the real estate market. May it be detached homes, semis, or other new constructions, these companies have made a strong hold in different Canadian provinces.

This collection of largest real estate companies can help guide you through the real estate market in Canada. What do you think? Any other top real estate companies that we missed to include here? Do share with us.

Last Updated:

2024-01-03

Real Estate Canada

Canada's real estate industry is dominated by several large and reputable companies. These top 10 companies, which include Brookfield Asset Management, Royal LePage, and RE/MAX, have a significant impact on the Canadian housing market and offer a wide range of services to buyers, sellers, and investors.

ananyagkp15

, 2023-03-27T10:20:18.224Z

Which is The Best Place to Live in Canada for Indian Immigrants?

Are you planning to move to Canada? But wondering, **Which is the best place to live in Canada for Indian immigrants?** Here we present an exclusive list of some of the **popular 6 cities for immigrants to live and settle down**. No doubt, Canada has been home to the largest population of **Indian immigrants**. Indians even have their street, specific market where you can buy any Hindi, Punjabi, Gujarati, etc. items and foods. Their language and traditions are now making grand within the communities. In fact, some places in Canada, don't let you feel home sick at all. You can follow your beliefs and culture, celebrate and enjoy like you would have done back in India. For those who are still contemplating which cities to immigrate to within Canada. Here are the most popular cities for Indian immigrants with their skilled and economic resources. Best 6 Cites to Live in Canada for Indian Immigrants ---------------------------------------------------- So, let's catch up with the details on the top cities for Indian immigrants wishing to move to Canada. 1\. Toronto ----------- The capital of the Canadian province of Ontario. The most populous city in Canada and the fourth in North America. This is the most popular city for Indian immigrants and over 40% lives there. Because of the plethora of job opportunities available in different sectors like technology, telecommunication, security, financial sector, and healthcare. Also home acquired skills jobs are in high demand like a cleaner, residential cook and more. You also have a lot of [fun activities to do in Toronto](https://getnewhouse.ca/blog/what-are-best-fun-activities-in-toronto-in-ontario-in-canada-for-adults), that also make it a busy tourist destination. The immaculate public transit system makes it easier for people, especially students to travel around the city and experience its beauty. That includes clubs, malls, cinemas, museums, and historical places. Remember, Toronto is quite an expensive city. It could really pinch your pocket especially as a new immigrant from India. But don't worry, If you can't afford it here, you can have a look at the [**10 Best Toronto Suburbs for Families to Live & Grow**](https://getnewhouse.ca/blog/10-best-toronto-suburbs-for-families-to-live-and-grow). 2\. Vancouver ------------- It is the most populous city in British Columbia, located on the pacific coast in western Canada. It is known for its beautiful nature, art scenery, and different thriving location for filming. The excellent standard of their universities makes the city have numerous international student immigrants. In terms of housing affordability is one of the most expensive cities in Canada and the world but is the most livable city. For an immigrant that loves to work in service industries, this city is the best option because it's their top tie. Others include construction, tourism, high technology, entertainment, manufacturing, mining, fishery & aquaculture, and forestry. Temperature degrees won't be the least of your worry because it is moderate compared to other cities. You may also like to learn about [**Top 10 Real Estate Companies in Canada**](https://getnewhouse.ca/blog/top-real-estate-companies-in-canada-largest/). 3\. Calgary ----------- Looking from the outside, Calgary might feel like an unusual destination for Indian immigrants whereas thousands of Indian workers and students live there. It is the largest city in Alberta province and the third-largest city in Canada. In terms of the economy, Calgary thrives in the energy sector and ability switch to a green energy source to meet its energy consumption needs. Other prosperous industries include mining, engineers, mechanical, entrepreneurs, technicians, health, financial service, and tourism. Calgary tends to receive a lot of snow in winter, which makes it more attractive for Indian immigrants who are not seen or used to snow. Living standard cost is pretty lesser compare to Vancouver and Toronto. 4\. Halifax ----------- Halifax is the capital province of Nova Scotia and is the largest municipality in its province and Atlantic Canada. Its port is one of the best harbors worldwide and significant in the Atlantic ocean. Halifax is a major cultural center within its province and a home to many region's major cultural attractions. Such as art galleries, theatres, and museums. It also hosts several festivals. It is easier for Indian immigrants to get a permanent residency in this province. By using Halifax- Provincial program or the Atlantic Immigration Pilot Program. For immigrants who prefer a place away from hustle and bustle of city life, Halifax is the best option. The temperature is not as harsh compared to other cities in Canada. 5\. Montreal ------------ Montreal is the second-most populous city in Canada and the most populous in the Canadian province of Quebec. It is one of the best place to live and study in Canada because of its several parameters and top-notch university reputation. For [**new immigrants**](https://getnewhouse.ca/blog/why-is-immigration-good-for-canada/) who want to travel with their families such as Indians who consider family as everything, Montreal is the best place to consider. The city is extremely safe with a low crime rate and holds abundant job opportunities. Searching for a job or part-time job as an Indian immigrant is not a hassle. The Quebec provincial government also support families with a monthly allowance for their kid. The allowance covers child support for kids below 18, school supplement for children between 4 and 16 years old, and supplements for disabled children. 6\. **Waterloo** ---------------- Waterloo is a city in the Canadian province of Ontario. It is one of the cities with the most cultural diversity in Canada with serval scenic views and places for younger people to have fun. Indian international students are attracted to this city because of the famous University of waterloo. The majority of Indian immigrant has made this city their home. Waterloo has a strong knowledge and service-based economy in significant insurance and high-technology sector. **To sum up** Choosing **the best place to live** or work in Canada as an Indian immigrant can be stressful. That's the reason we took the step to bring together the best places and their potential. So, do consider one of these top cities for Indian immigrants to settle down. A New Country, New Job & New Beginning! Keep in mind, settling in a new country comes with its own challenges! So, whether you are an Indian immigrant or from any other country, it may take some time to establish yourself at a new place. And, finding that perfect destination is not an easy task. Initially renting a house would be a good decision. But gradually, buying a house may prove economical (only when affordable amidst the sky-rocketing prices in Canadian real estate). Don't forget to find out if [**new immigrants can buy a house in Canada**](https://getnewhouse.ca/blog/can-new-immigrant-buy-house-in-canada/). Once you find the best place to live in Canada as an Indian immigrant, do share with us. Feel free to add your experiences and feedback.

How much commission do real estate agents make in Canada?

Real estate will probably be the most expensive purchase you ever make especially if you live in Canada. And the real estate commission you pay when you sell will probably be the largest fee you ever incur in your lifetime. Because both the buyer and the seller want a satisfying deal, the buyer wants to buy at a price that is very reasonable, while the seller wants to get the best possible price. So here come real estate agents, who set up real estate deals by bringing together buyers and sellers and negotiating on their behalf. These agents are typically paid entirely through a commission, so today we'll look at how much commission real estate agents make in Canada. ## How much commission do real estate agents make in Canada? The deal primarily involves two agents: the listing agent, who represents the seller, and the buyer agent, who aids in the sale of the property by bringing a buyer. The commission paid to a real estate agent in Canada is a percentage of the home's sale price, and it is typically paid by the seller, first to the listing agent, who then distributes a portion of the commission to the buyer's agent. Therefore, when it comes to commission, real estate agents in Canada are not subject to any mandated or fixed commission rates.**The commission rate in Canada varies by province and mostly ranges from 3% to 7% of the sale price**. The commission, however, is only paid once the property has been sold; prior to that, all of the services provided by the agent are typically provided free of charge. Strange but true! The top 10% of agents in Canada make more than 10 sales per year. **Real Estate Agent Commission in Different provinces of Canada-** ![Real Estate Commission in Canada.png](https://s3.amazonaws.com/assets.getnewhouse.ca/Real_Estate_Commission_in_Canada_4c56b76d26.png) ## Real estate agents Commission in Canada Real estate commission rates can be negotiated depending on the property and market. Some agents might consent to lower upfront fees while others might not. Therefore, the commission paid to agents is typically around 5% of the selling price, which is typically split equally between the listing agent and the buyer agent. Each agent will then give the broker's share, which is usually 30% of the agent's commission.

Is Burlington a good place to live and settle down?

Burlington is one of the best places to live in the Province of Ontario, Canada. The town offers residents an urban-suburban mix feel, and most residents rent their homes. Many young professionals live in Burlington, and residents tend to be liberal. Burlington is between Toronto and Hamilton and not too far from the border with the USA. There are also natural landscapes like the Niagara Escarpment and a sandy Lake Ontario beach in its downtown core. Living in Burlington has many benefits. Its top features are amenities, a low crime rate, and culture and community. There are also plenty of local job opportunities. A visit to Burlington’s lakeside and sprawling lakefront park is a great way to appreciate its desirable beauty. Dozens of award-winning restaurants, coffee shops, and boutique shops make the downtown area a favourite destination for residents and visitors. Read on as we walk you through some note-worthy things to know about Burlington. ## Benefits of Living in Burlington Let's catch up with some exclusive benefits of staying in the beautiful city of Burlington: ### 1. Family-friendly Environment Burlington provides a well-balanced life of urban fun and a peaceful living environment. You can hop down to the downtown area to enjoy modern-era restaurants, clubs, bars, nightlife activities, etc. The residential area is engulfed in a serene environment ideal for relaxing and enjoying a good night’s sleep after a long day at work. These provide an enriched family-oriented experience to the residents. ### 2. Exceptional Schools Burlington prides itself on its high standard of education. There are schools for all grade levels and several private schools. Colleges and universities in the area help high school graduates offset the high cost of post-secondary living expenses. Burlington also has sought-after universities. They include the University of Guelph, University of Toronto, McMaster University, and others. ### 3. Recreational Activities Burlington is located along Lake Ontario’s magnificent shorelines, providing different outdoor recreational activities for the residents. Residents can go swimming, boating, canoeing, surfing, or fishing when the weather allows. The city also has hectares of parkland, offering amazing opportunities for families, bachelors, and everyone living there. Burlington is also home to splash pads, ice-skating rinks, community centres, and golf courses. These cater to a broader set of audiences. Do you want to enjoy quality time with your friends and family in natural beauty? If you are the one liking [fun-activities in the Greater Toronto Area](https://getnewhouse.ca/blog/what-are-best-fun-activities-in-toronto-in-ontario-in-canada-for-adults), this is an amazing choice. There are well-preserved hiking trails and parks in Burlington. They include the famous Bruce Trail, Niagara Escarpment, Waterfront Trail, Spencer Smith Park, LaSalle Park, and Lowville Park. Burlington also has one of the world’s largest lilac collections in the Royal Botanical Gardens. Your kids can run around the well-tended and well-preserved gardens. ### 4. Easy Travel Enjoy easy and convenient access to many major GTA highways, including the 403, 401, and 407. Burlington has three GO Transit stations. They include Aldershot GO, Burlington GO, and Appleby GO. These make it easy for travelers to board GO trains, GO buses, and city buses. Burlington is within an hour's drive to Toronto Pearson International Airport and John C. Munro Hamilton. These make it easy for people planning to travel for business and leisure through the International Airport. ### 5. Modern Amenities Burlington is rich in terms of modern amenities. The city has everything you need limits, from chain stores and supermarkets to family-owned stores. The malls in Burlington offer all the necessary items at an affordable price. There are also verified retail stores for Apple, Sephora, and other prominent brands inside these malls. Libraries, health, and wellness centres inside the city have no limits, along with coffee shops, book stores, and electronic shops. ### 6. Year-round Festival Burlington kicks off the summer season with a Music Festival in Spencer Smith Park by the lakefront. This festival lasts for days and brings many fun options to the residents. Teen tour band concerts, kid-friendly playgrounds, dancing competitions, and eatery contests are also available. Furthermore, the residents set up exhibitions for their art pieces and stalls for outsiders and residents. The annual Ribfest festival is another popular event in the winter season. Food trucks, vendors, and local business shops operate during the festival. These add to the festival’s existing charm. You may also like to explore [Best Toronto Suburbs for Families to Live](https://getnewhouse.ca/blog/10-best-toronto-suburbs-for-families-to-live-and-grow) ### 7. Excellent Location Burlington is one of the best mid-sized cities in Canada. The city location allows residents to benefit from their proximity to Toronto. These help the residents avoid the inflated cost of living found in the core of the GTA. Additionally, some of Canada’s best hospitals are within the city's driving distance. ## Disadvantages of Living in Burlington Burlington offers its residents good opportunities and reasons to be part of the community. However, it also has drawbacks that hinder a few people. Let us explore the disadvantages of living in Burlington to understand the area better. ### 1. Decline in Population Burlington's population has declined in the past years. A decrease in a city's population has many factors. They include pandemics, conflicts, low birth rates, resident migration, and many more. The employment rate in the city also suffered because of less demand for basic services such as hotels, restaurants, and shops. ### 2. Limited Transportation There are only three GO transit stations in Burlington. Those stations are always filled with young millennials making their way to work. Adults and families tend to own cars for shorter commute times. The city highway is also crowded because of the city's proximity to Toronto. The traffic on s 403, 401, and 407 are the worst. It can easily turn a 10-minute drive into an hour-long journey. ### 3. Expensive Housing Houses in Burlington cost $200,000 more than their surrounding regions because it offers a higher quality of life and better options for professional career growth. Burlington also has fewer real estate listings. The listings are also expensive compared to other cities near Toronto. Therefore, buying your desired house is often an ordeal. Additionally, travelling to major metropolitan hubs from Burlington is shorter. These make the real estate options limited. ## Is Burlington a good place to live and settle down? Are you looking for a good place to live in Canada? There can be no better option than Burlington. It is one of the safest cities to live in Canada. The city's educational institutions are top-notch. Your children will experience unique learning from elementary to University. However, it is all based on your personal choice and preferences. If you are planning to settle in Ontario, and can afford it, do consider Burlington as one of the options. Which is your favorite city in Ontario to live and settle down? Do share with us.

What does Higher Interest mean for Housing Market in Canada?

You might be hearing and reading a lot about the increased benchmark interest rates by Bank of Canada. Let's analyze the answer to the query: **What does higher interest mean for the housing market in Canada?** The Bank of Canada hiked its policy rate again in **December 2022**, thereby increasing the **interest rate to 4.25 percent**. The buyers are wondering for how long this rate hike spree will continue impacting their purchasing powers. **High-Interest Rate in Canada: Reasons** ----------------------------------------- The announcement of the **high-interest rate** of housing in Canada has become the talk of the country. Many people believe pent-up demand for homes is so high that supply is scarce. Hence, the Bank of Canada's decision to increase the benchmark interest rate will not take much of an edge on the real estate market. According to the report, the low housing rates have increased housing demand for many years. There have also been many home-ownership and move-up buyers and investors. But after decades, inflation has made the Bank of Canada alter its course. The bank has signaled a hike in interest rates in the years ahead. These will be a game-changer for the market. Home resales are expected to slow more quickly than previously anticipated. There will also be prices peaking this spring as market sentiment sours from extreme bullishness. Local markets could also experience a mild price correction, partly reversing outsized gains recorded in the past year. **The High-interest Rate is Real** ---------------------------------- Housing interest rates in Canada have been low for many years. And the Bank of Canada's move to raise its lending rate is real. The bank began to normalize its monetary policy in March, making the higher rates a reality. It had also announced a 0.5% increase to 1.0% on April 13, 2022. This has been the biggest one-time increase in interest rate since 2000. The Bank of Canada has also hinted to raise its policy rate to a neutral level by the end of the year. These might lead to an add up from 1% after six months to 2.0%. Or slightly above 1.75%. These might become a big problem because Canadians have not seen such an increase within a short period since 2005. This will likely impact businesses and individuals thereby influencing mortgages, GICs and savings accounts. ### **There is no way out** There has been an increase in fixed mortgage rates since the financial markets began to anticipate the Bank of Canada's new perspective. These have negatively impacted mortgage borrowing. This is because borrowers have gravitated toward variable-rate mortgages, which rates remained excee4ptionally low. But the Bank hiking campaign will soon make variable rates more expensive too. These will leave borrowers with no way out. ### **Reduced Housing Purchase** The increase in interest rate has increased the mortgage stress test’s qualifying rate. These have removed stretched-out buyers from the market. However, qualifiers will also see higher rates. These have reduced the size of the mortgage they can get and the amount they can pay. The new mortgage qualifying rate is supposed to protect the Canadian housing industry. But might make citizens settle for a lower budget or higher down payment on their mortgage. The rise in fixed mortgage rates will also shrink the maximum purchase budget by roughly 15% for medium earners. ### **Poor affordability for buyers** The higher interest rates will pose a massive challenge for many buyers. This is because the Canadian housing industry is at risk of reaching the worst-ever levels in years to come. According to research, it could reach that grim point by the third quarter, and the federal budget cannot prevent this from happening. Also, poor and worsening affordability might increase homebuyer demand across the country. **How Canadians are dealing with the increasing rate**? ------------------------------------------------------- According to a report, roughly half of Canadians are feeling the effects of rising interest rates. Another research suggests that Canadians are spending less due to increasing rates. [**Canadian housing market**](https://getnewhouse.ca/blog/renting-vs-buying-home-canada-better/) may also be cooling off as higher interest rates increase the monthly mortgage payments. These and many more are the things that Canadians need to battle with at this time. _What about rising inflation in the country? How to cope with it?_ **How the increasing interest rate can affect mortgages?** ---------------------------------------------------------- The increase in interest rates has made mortgages more expensive. Homeowners in cities with high-priced real estate will pay more money on regular mortgage payments. It has also affected lines of credit, cars, and student loans. The cost of paying off student loans will increase along with the interest rate. **Benefits of the High-interest Rate** -------------------------------------- A few plus points for a high bank interest rate could be: ### 1\. **Increased Bank Savings** Higher interest rates can be good news for individuals that save more. It could grow their bank account faster. Also, many fixed-rate investments such as guaranteed interest options will give higher returns. You may also like to learn about [**Top 10 Real Estate Companies in Canada**](https://getnewhouse.ca/blog/top-real-estate-companies-in-canada-largest/). ### 2\. **Increase Interest in Investment Portfolios** The total return on your investments will likely remain small. However, a rising interest rate means more income for your investment portfolio. These include fixed income such as bonds, stock, and Global Industrial Classification Standards. ### 3\. **Change your open mortgage** Changing your Open mortgage to a closed mortgage will limit the impact of the rising interest rate. This is because a closed mortgage is not affected by interest rate changes. High Interest Rate in Canada - Key Takeaways -------------------------------------------- Adjusting your savings and investments with the help of a financial advisor can deal with the rise in the **housing market in Canada**. An expert may be able to help you find solutions that give a better return as interest rates increase. But, the ultimate financial decisions should be yours. May it be beating inflation or bearing the rising interest rate scenario, you are the best judge to analyze your situation. _Relax!! And, observe how the high policy interest rates by Bank of Canada impact home buyers and sellers. Make a wise choice! Don't forget to share your opinion with us._

Top 10 Best Cities to Live in Ontario, Canada

Are you thinking of moving to the Province of Ontario in Canada? Wondering, which city to move and settle down? Here we present a collection of the **10 Best Cities to Live in Ontario, Canada**. Cities in Ontario, Canada ------------------------- The **Ontario cities** offer greater access to housing, food, healthcare, employment, and quality of education. It also assures freedom, political stability, a quality environment, and job security. These cities are considered safe places to live and offer an incredible lifestyle. While there are amazing cities in this part of Canada, there are also some places to avoid. Here are the 10 best places to live in Ontario, Canada. Best 10 Cities to Live in Ontario, Canada ----------------------------------------- Let's catch up with the preferred Ontario cities and dig deeper into the pros and cons of living there. 1\. Burlington -------------- Burlington is tagged as one of the best cities to live in Ontario. A great city located on Lake Ontario between Hamilton and Oakville. It is about a 45 to 60 minutes drive from Toronto and offers a good location and natural scenery. Its proximity to major industrial hubs and nearby cities makes [Burlington a great place to settle down](https://getnewhouse.ca/blog/is-burlington-a-good-place-to-live-ontario). The average home price of a detached house in Burlington is about $1.1 million. The city is a waterfront city that offers a unique balance of greenspace, city living, and tranquility. Plus a bustling environment that features restaurants, nightlife, malls, and local businesses. Crime rates are lower when compared to major cities, making it a safe place to live. 2\. Oakville ------------ Oakville is a suburban town within the Halton Region and part of the Greater Toronto Area. It is known for its beauty, cleanliness, and safety, with green recreational spaces and several parks. The city is a family-friendly place to live, with excellent schools and family-oriented activities. Oakville's median a detached house price is around $1.5 million. The city has been ranked as one of the best places to live in Canada for many reasons. The diversity of the housing stock and beautifully designed homes make it a desirable place for many residents. To get more information, don't forget to discover, [**Is Oakville in Ontario a good place to live?**](https://getnewhouse.ca/blog/is-oakville-ontario-canada-good-place-to-live/) 3\. Waterloo ------------ Waterloo is the best for you if affordability is one of your prime concerns when moving to Ontario. It offers a unique blend of urban and rural living with a growing tech and innovation hub, top learning institutions, and business parks. Its proximity to Toronto also makes the region an attractive place to settle. Waterloo's housing price is just over $700,000, making it far more affordable than the properties in Toronto. Also, there are job opportunities in Waterloo. So its residents do not necessarily need to find employment in Toronto. 4\. Thunder Bay --------------- Do you want to live somewhere safe with an outdoor lifestyle and job opportunities? You might think of living in Thunder Bay in Ontario. It is a large city near Lake Superior. Its location on a freshwater lake makes it spectacular and nature friendly. There are many outdoor adventures for the residents. These include fishing, hunting, and hiking. Also, this city is ideal for people who want reasonably affordable housing with many amenities. 5\. Stratford ------------- Stratford is a city on the Avon River and one of the best places to settle in Ontario, Canada. The city offers the best of both worlds with the comforts of urban living alongside a small-town feeling. It is known for its incredible annual festivals. Each year, a different part of the city acts a variety of the noble Shakespeare plays as drama viewed as part of their annual Stratford Festival. Stratford's weather is not harsh, and the crime rate is low compared to Ontario. The unemployment rate in Stratford is low due to the diverse job opportunities in the area. It's also a safe place to live. 6\. Kingston ------------ Kingston is a beautiful city with a lot of history and islands. It is family-friendly and thus suitable for anyone that wants a peaceful life for their children. The city has a cultural community, making it ideal for someone interested in theatre, arts, or music. Kingston has a good food scene and great restaurants, and the housing is affordable compared to other cities. 7\. Barrie ---------- Barrie is a city with every amenity you need to live a happy and fulfilled life. It offers city living on the beautiful Lake Simcoe in proximity to Toronto. The average cost of a home in Barrie is just over $700,000, with an abundance of nature, sports, and many activities. Barrie's is home to several gourmet restaurants, cafes, bars, breweries, and nightclubs. The city also has a mountain resort and spa. 8\. Hamilton ------------ Hamilton is one of Canada’s leading industrial centers and the hub of an extensive fruit-growing district. It is considered one of the best places to live in Ontario, with natural landscapes, trails, waterfalls, and beautiful lookouts. It is known for its high-quality life, arts, heritage, and cultural scenes. Hamilton is also conveniently located within a network of highways making it easy to commute to other cities for work or leisure activities. 9\. Toronto ----------- Toronto, the Capital of Ontario Province, is one of the preferred cities to move not only for Canadians but immigrants too. The city has over two million residents and is one of the best places to live in Ontario. It has people from different communities and is the most populated city in Canada. You also have a lot of [fun activities to do in Toronto](https://getnewhouse.ca/blog/what-are-best-fun-activities-in-toronto-in-ontario-in-canada-for-adults), and this makes it a favorite tourist destination. Toronto is Canada’s financial capital and home to many private IT companies with a stable economy, making it conducive for business. It offers the perfect mix of business, culture, and entertainment and is one of the world’s most economically powerful cities. However, it is an expensive city to live, owing to the rising inflation, increased housing rents, higher mortgage rates, etc. Toronto has an average home price of $1 million for a two bedroom house. Doesn't that sound too much? If yes, you can also think of moving to one of the [**Best Toronto Suburbs to live and grow**](https://getnewhouse.ca/blog/10-best-toronto-suburbs-for-families-to-live-and-grow). No doubt, Toronto is one of the best options if finding good employment is your priority as there are opportunities across numerous industries. 10\. Ottawa ----------- Do you prefer living in an urban environment where many things are going on? Then Ottawa is ideally the best place for you. It is one of the most affordable places to live in Canada, as the average price of a home is under $800000. Also, it is the best place to live for job opportunities across multiple sectors. The city is rich in history from the buildings and museums. It is highly populated and the best place with beautiful nature for walking, skating and hiking. This beautiful city is known for hosting a series of festivals year-round with ideal and pleasant weather conditions. Ottawa is known for low crime rates and guaranteed healthcare services in the city. **Note:** The housing prices stated above are based on **Housing Market Report for September 2022**. These are subject to change as per changes in market scenario. The Canadian real estate market prices are fluctuating at a much faster rate owing to changes in interest rates and demand/supply factors. ### Which are the best cities in Ontario for living? Moving to one of the **best cities in Ontario** can be a big decision with a lot of challenges. Therefore, make adequate efforts to ensure you understand what you are getting yourself into. Do proper research, analyze the advantages and disadvantages of living in a particular city, and then go ahead to get your dream home. _What do you think? Which is the best city to live in Ontario? Feel free to share your feedback and suggestions._

Is Oakville in Ontario (Canada) a good place to live?

**Have you heard of Oakville in Ontario, Canada? Wondering if Oakville is a good place to live.** Let's get a clear picture of the pros and cons of living in a sub-urban city like Oakville. To move from where you've previously to another new area is an exciting, but a tiring prospect. Not only do you need to research good places to live in, but you also need to plan, prepare, pack, and move. The packing process is sometimes fun, whereas the unpacking process is quite tedious. So, if you are thinking of moving to a new area in Canada, research the area. Find out if the place is safe for your family, conducive, and affordable to live in. One prime example of a good place you can move to is Oakville, Canada. Think about nature, places of attraction, ease of transport, affordable housing, and low crime rates, **Oakville** has it all. In addition, you can invest in **real estate** in **Oakville**. Oakville in Ontario, Canada - A Glimpse --------------------------------------- Oakville is located in Ontario, Canada, in the northern part of the American continent. It is the biggest town among all towns in Ontario, with thousands of residents living there. When you look at the Canadian map, you will find Oakville on Lake Ontario. It is also closer to Ontario, but retains its suburban look and features. Therefore, it's a **good place to live** for people who love quiet areas. Furthermore, Oakville is surrounded by wonderful places of attraction and nature. It's a place where you can rest assured of your family's safety. You can take your family out to enjoy the calming atmosphere of the Oakville environment. It's no wonder Canadians are relocating to Oakville every day. Oakville Climate and Weather Conditions --------------------------------------- Oakville's climate can be described as humid, especially in the summer season. In the winter season, Oakville has a dry and freezing temperature with lots of wind. However, Oakville doesn't freeze below three degrees, unlike other towns. According to weather statistics, Oakville has hot summers, so much so that people find ways to cool off. It can rise as high as ninety degrees during the hottest days. Oakville Governing Council/Bodies --------------------------------- The town has a governing town council that comprises the council members and the mayor. In addition, Oakville is divided into two provinces, and each province has its own representative members. You may also like to explore [Best Toronto Suburbs for Families to Live & Grow](https://getnewhouse.ca/blog/10-best-toronto-suburbs-for-families-to-live-and-grow) How Can You Benefit From Living in Oakville? -------------------------------------------- Oakville Town has many things to offer its residents. Residents don't need to go to other towns to enjoy their parks. They can stay in Oakville and visits the many parks there. The best time to enjoy the parks is during the fall season. There are also lakes with stunning views in Oakville. Sports enthusiasts are not left behind as Oakville offers many outdoor activities. Reasons, why you should stay in Oakville, are: ### 1\. Job Opportunities: It may be due to its small population, but Oakville has different job vacancies for its residents. It is also worthwhile to note that several big firms are present in Oakville. Thus, if you plan to stay there, here are major hiring sectors you may choose from: education, healthcare, transport, automobile, and the government sector. Another employment option is to go and work in Toronto, since it's close by while you live in Oakville. You don't need to worry about transportation because Oakville has different modes of efficient transportation. Additionally, Oakville residents have the highest average income in Canada. ### 2\. Safety: Oakville has a low crime rate, making it one of the safest Canadian towns to live in. The local police monitor the town and ensure the place is safe to live in. The law enforcement officers also maintain law and order in Oakville. ### 3\. Sports Facilities: Sports enthusiasts and families with kids will adore Oakville for providing sports facilities. Nearly every Oakville resident is engaged in one form of sport or the other. Children who are active in sports can choose from golf, baseball, lacrosse, and soccer. Furthermore, Oakville's skating club is known as the largest Canadian skating club. ### 4\. Cultural Diversity: Oakville has a diverse population with different cultures, religions, and traditions. So if you belong to a minority group, you'll feel at home in Oakville. Each cultural group is friendly and accepting of other cultural groups. Whether you are a Christian Muslim, Hindu, Sikh, Judaist, or Buddhist, you'll be welcome and find a place to worship. Additionally, Oakville has thriving arts and culture centers and events in place. They are governed by councils who ensure everything goes smoothly. The Councils conduct film festivals, movie showings, and live stage performances. The town also holds events like concerts in an auditorium for residents to enjoy. ### 5\. Education: Oakville has several universities, high schools, preschools, and kindergartens that are well-equipped. Its educational system is of a good standard. The schools are not too far from each other and have well-qualified teaching and non-teaching staff. ### 6\. Transportation: Oakville has various means of transportation. It has two main highways, a Metro, and a railway station. Similarly, Oakville boasts of an airport that is close to the capital. ### 7\. Places of Attraction: After a hard day at work, the next thing is to relax. Oakville has many relaxing places like the golf courses which are popular in Canada. There are media stations, waterways, lakes, parks, gardens, yacht clubs, and picturesque sceneries. Why You May Re-Consider Living In Oakville? The Downsides --------------------------------------------------------- No matter how beautiful a place is, it'll still have its downsides. Here are some things you should know before moving to Oakville. 1. It is expensive to go to restaurants in Oakville, so many residents opt for fast food and takeaways. 2. The best thing is for you to have your own car to make it easy to move around. This is especially good for people with families and young ones. 3. House prices may increase shortly due to Oakville's proximity to Toronto. Do remember to explore the [**Best 10 Cities to Live in Ontario, Canada**](https://getnewhouse.ca/blog/top-10-best-cities-to-live-in-ontario-canada). Is Oakville a good place to live? --------------------------------- Oakville has carved a niche for itself as an I.T and science town. This has attracted lots of **real estate** investors. Property developers continuously submit housing development proposals to the government. To cap it all, the people living in **Oakville** are friendly and accommodating. So be rest assured that if you and your family move there, you'd enjoy the place.

Why to invest in Grimsby in Ontario, Canada?

Canada's real estate market is full of opportunities for those who are clear about their investments, know the Canadian real estate market and know when, why and where to invest. It also presents a unique opportunity to make consistent income through long-term appreciation, rental income, and property value growth. But it's not that easy also, because the real estate market is continuously changing, particularly in Ontario cities, it's important to carefully research, the current trends and demand. So, today we will make it easy for you to invest in Grimsby in Ontario, Canada and will find out why to invest in Grimsby in Ontario, Canada? So, let's dive in! ## Grimsby-a town in the mid of magnificence Grimsby, Ontario is a small town with big heart, and its beauty is enough to attract the visitors and the people living here. The town is between the sparkling waters of Lake Ontario and the glorious Niagara Escarpment, an UNESCO World Biosphere Reserve. The majestic Escarpment provides a beautifully unique and diverse eco-system, with its rich forests, which are home to many species of plants and animals. One of the best ways to feel the beauty of Grimsby is by taking a climb on the Bruce Trail, that offers breathtaking views of the lake and the place surrounding it. This town also have a few parks and conservation areas, like, the Grimsby Beach Park, that offer a variety of recreational activities like swimming, fishing, and picnicking, that will never ever let you get bored. ## Grimsby- a growing commercial hub Grimsby, Ontario is a town that is rapidly becoming an ideal spot for business and retail investment. Situated among Hamilton and St. Catherines, this town is surrounded by natural beauty and offers simple easy access to big cities and their amenities. Also the town's abundance of craftsmanship, history and culture, as well as its growing populace, have drawn attention of many businesses to the area. More that sixty-five businesses are thriving in the prompt region, providing ideal business space and a consistent stockpile of customers. Tourists and customers are attracted by the town's beauty, warm heritage and convenience. Not only this, but Grimsby also provides the local businesses access to a talented and educated labor pool, making it simple for them to hire the best people. The average household income is also estimated to be around $92,038 because to the region's expanding economy, which make makes it easy for the people to live comfortable life. ## Grimsby- from transit convenience to top-notch educational institutions When it comes to the transportation, Grimsby offers easy access to highways like the QEW and the 403, making it a perfect location for both the people living here and the businesses. The town also has a GO Travel station, which provides people with easy access to the Greater Toronto Area. Public transportation within the town is additionally advanced, making it simple for people to get around. Grimsby is additionally home to various fantastic schools, from elementary to secondary school like West Niagara Secondary School, Central French Immersion Public School and Grand Ave. Public School, providing a good and quality education to the children of the community. ## Grimsby - among Top-10 Cities for Real Estate Investment in Ontario The Real Estate Investment Network (REIN) in 2018 released a report that recognized Grimsby as one of the top-10 spots in Ontario to invest in real estate. The report, which considered 36 financial and market factors, ranked Grimsby and St. Catharines as 10th overall on the list of communities with potential for housing market strength over the next five years. The report says that the Grimsby is in a recovery mode, opening opportunities for buying and holding real estate and fixing and flipping. ## Why to invest in Grimsby in Ontario, Canada? Investing in Grimsby, Ontario, Canada can be a savvy move for your future because of different reasons. One of the main reasons is the potential for appreciation in property value. Grimsby is a growing community with a solid economy, which can prompt an increase in property value over the long run. And imagine you buy a property in Grimsby, you might see a good profit from your investment in the long-term. Furthermore, Grimsby, Ontario, Canada presents an extraordinary chance for real estate investment. Its regular magnificence, growing business center, convenient transportation, and top-notch educational institutions make it an appealing location for the both the occupants and businesses. Also, the REIN has identified Grimsby as one of the top-10 spots in Ontario to invest in real estate, further solidifying its potential as a brilliant investment opportunity. So, what are you waiting for? Everything is sorted, the only thing required is well-planned investment strategy and thorough research. After that you can tap into the town's promising opportunities for long-term profit, rental income, and property value growth.

Who owns Mattamy Homes?

One of Canada's most successful business owners and investors, **Mr. Peter Gilgan**, is the CEO and owns the great Mattamy Homes. He established a company in 2018 to develop and maintain a diverse investment portfolio and establishments around geographic locations, asset levels, or risk and return spectrums. Mattamy Asset Management is the parent organization of Mattamy Homes, North America's largest privately owned construction company, which Mr. Gilgan built in 1978. Mattamy Homes operates in Canada and the United States, assisting over 8,000 families each year in realizing their dream homes. Mr. Gilgan was named an Officer of the Order of Canada in appreciation of his impressive leadership in Canada's construction sector. He is also admired for his corporate social responsibility assistance of proposals in the healthcare system, skills training, and athletics. He was honored as a Partner in the **Canadian Business Hall of Fame** in 2013. Mr. Gilgan was awarded a Laurier's School of Business and Economics Outstanding Business Leader of the Year award in 2010. He was nominated a Fellow (FCA) of the Institute of Chartered Accountants of Ontario in 2009. Mr. Gilgan also affectionately received the title of Canada's Entrepreneur of the Year in 2007. ## Mattamy Homes Mattamy has established over 100,000 properties from **Ottawa to Florida** through its website. Its homes, which vary from terraced houses to condos and townhouses, are typically built in cookie-cutter suburban residential area clusters. Its most significant project in the United States is a 10,000-acre innovation in Sarasota, Florida, which would include a training camp baseball field for the Atlanta Braves and a medical center. ## Founder of Mattamy Homes Peter Gilgan has always dreamed of creating a business that was more than just about generating income. His goal was to develop and cultivate a firmly rooted culture focused on nurturing employees, consumers, stakeholders, and the community members Mattamy generates and operates in the surroundings and broader community. Reading about this great personality in the world of real estate surely gives us an inspiration to work hard and achieve our goals. What do you think?

Is Pickering in Ontario (Canada) a Good Place to Live?

Have you heard of Pickering, a beautiful city located in Southern Ontario? Are you looking for a new house? Are you thinking, **Is Pickering (Ontario) a good place to live?** Is it safe to move in? What are the pros and cons of living in sub-urban cities? Let's get answers to your queries. Pickering (Southern Ontario) ---------------------------- Pickering is a unique city to settle down in Southern Ontario. It is primarily a residential community, family-friendly with parks, cultural attractions, and great outdoor recreation opportunities. Are you considering moving to Pickering or debating a different city in Ontario? It is essential to look at what the city entails. Pickering was officially incorporated in 2000. There were over 90,000 residents, according to the 2016 census. It offers features of an enormous city, scenery, amenities, and a strong sense of community while maintaining a small-town feel. Its proximity and easy access to Toronto while ensuring a slower-paced lifestyle make many people consider moving to this idyllic area. Languages such as Chinese, Japanese, Spanish, and Arabic are also spoken around the town, although the majority still speak English. Don't miss to explore Ajax, another beautiful city in Southern Ontario and also know if [**Ajax is a good place to live**](https://getnewhouse.ca/blog/is-ajax-in-ontario-good-place-to-live-canada/). Pickering Lifestyle ------------------- Pickering is perfect for people wanting to provide their families with a suburban lifestyle. It offers anything a large city will have such as **recreation centers, shopping malls, community events**, and many more. It is also a major attraction for those who wish to escape the concrete jungle. The city center has over 200 shops, including Sears and The Bay. So you can spend your afternoon shopping in a quiet, suburban community. Your kids are also safe, and you get to do any activity you love doing when living in the city. Pickering's strong sense of community is also one of the many things that draw people to it. The city has a wide range of cultural and art events. These allow the people to view and participate in exhibits, shows, and theatre. The **Pickering Museum Village** also shows the pride of the community while offering a glimpse back at those who came before. The city has theatres while ensuring the love of arts and culture stays alive with music from local talent. Enjoying nature comes by itself for those living in this city. It has hectares of open space, beautiful parks, waterfront, and beach area. Your children can enjoy their evening at the lakeside splash pad while you enjoy the unique boutiques, restaurants, and live music. The city's breathtaking scenery gives a mind-blowing experience while taking a quiet stroll through nature. Connect with nature without leaving the comfort of your city. Housing in Pickering -------------------- Pickering is one of the most affordable cities out of the 23 regions of the Greater Toronto Area. The average housing price in Pickering is around $1.1 million, which is affordable compared to other cities. However, the hot housing market seems to have cooled off a bit! Let's see will the [**housing market crash in Ontario**](https://getnewhouse.ca/blog/will-housing-market-crash-in-canada-reasons/) or its just a little price correction of the overpriced real estate industry! The Province of Ontario has also designated Pickering as an urban growth center to receive more development allowances and population. There are several areas where you can choose to live in. Places like **Claremont** are best if you are interested in stepping back from city life and having a rural feel. **The Frenchman Bay area** is perfect for people that enjoy staying in the city. Smack dab is also a stone's throw from transportation, dining, shopping, and other modern activities. Amberlea, Duffin Heights, and Rosebank offer a more traditional, suburban setting to settle down and raise a family. _Do you know about any other good to go places in this city?_ Education in Pickering ---------------------- The education offered in Pickering will set your children up for success no matter your choice of the school board. The schools are excellent and fall nothing short of providing the best schools your children need The Durham District School Board, Durham Catholic District School Board, and others have schools operating in the city. Institutes like Blaisdale Montessori School and Durham College/Centennial College have several complementary courses and classes. There are also private schools like Pickering Christian School and Wasdell Academy. Additionally, the University of Toronto is just a few kilometers from Pickering. Pros of Living in Pickering --------------------------- Here are some of the advantages of moving to a sub-urban city with a relatively less population and open spaces: ### 1\. Convenient and Affordable Pickering has access to major freeways and is close to big cities, making it a great option for commuters. It is also a top choice for people who want to find higher-paying jobs at corporations. Other cities within a short commuting distance include Whitby, Brampton, and Aurora. Anyone who knows about housing in Canada knows cities close to the Greater Toronto Area are super expensive. But Pickering is more affordable than other parts of the GTA. The median price of a house in Toronto is much higher than its suburbs. However, the cost of a house in Pickering is still affordable. So, Pickering is a good choice if you want to live in this region. With that said, prices have risen in recent years and are likely to continue to do so. ### 2\. Better Outdoor Recreation Pickering is located on the shores of Lake Ontario, creating excellent outdoor recreation activities. Being able to explore the lakefront at its perks is a phenomenal experience. Some properties also allow people to rent surfboards and head out onto the water. Pickering is also an excellent city for cycling, biking, and hiking trails. You can also go to Frenchman’s Bay Harbour to see the boats at the dock and walk around the marina near the water to enjoy its natural beauty. Other recreation activities include boating, sailing, and swimming. ### 3\. Excellent Arts and Culture Pickering is a great place to know cultures and have fun. This city, one of the [**best Toronto suburbs**](https://getnewhouse.ca/blog/10-best-toronto-suburbs-for-families-to-live-and-grow) has several excellent arts and culture initiatives. The city hosts events throughout the year like Arts Unleashed and Culture Days to celebrate arts and culture. The Pickering Museum Village also helps preserve its history, allowing trips for students and teachers. The residents and guests can also learn about the history of Pickering. ### 4\. Better Employment Opportunity Living in Pickering provides good job prospects. Pickering Nuclear Generating Station has the largest employer with more than 4,5000 employees. Other major employers in Pickering include Rogers Communication, Norinco Manufacturing, Purdue Pharma Canada, and Signature Aluminum Canada Inc. etc. Not only this, Pickering's proximity to Toronto allows residents to maximize their job prospects by looking for work in the city. Also, don't miss to learn [**7 Reasons to Live in Stoney Creek, Ontario, Canada**](https://getnewhouse.ca/blog/reasons-to-live-in-stoney-creek-ontario-canada/) Is Pickering a good place to live? ---------------------------------- So, what can you conclude after analyzing the pros of living in this sub-urban city of Ontario. Pickering is a good place to live and one of the preferred [**Ontario cities**](https://getnewhouse.ca/blog/top-10-best-cities-to-live-in-ontario-canada) with great outdoor recreation, and employment opportunities. There is also quick access to Toronto, and generally affordable housing for the region. What more to look for? If you are staying in Pickering or planning to move there, let us know is it a good place to live. Do share your experiences and suggestions. And what do you prefer, detached or semis, or [**pre-construction or new construction**](https://getnewhouse.ca/blog/is-new-construction-good-investment-property-ontario-canada/) condo units? Whichever you choose, take a wise decision.

20 Real Estate Terms in Canada - List for Canadian Home Buyers, Sellers & Agents

Are you ready to conquer the Canadian real estate market, but feeling a bit daunted by the abundance of jargon and complexities? Don't worry, you're not alone! The real estate industry can be a minefield to navigate, but with the right knowledge, you'll be able to understand the ins and outs of the market and make informed decisions. So, whether you're a first-time home buyer, a seasoned seller, or a budding real estate agent don't let the jargon hold you back- let's unlock the secrets of the Canadian real estate market with the ultimate 20 real estate terms that you need to navigate the minefield of the Canadian real estate market and come out victorious. ## 20 Real Estate Terms in Canada - A Comprehensive List Knowing real estate terms is key to being a pro in the Canadian market. It's not just for first-time buyers or sellers; it's also for sellers and real estate agents who work here but are unaware of these terms. Because understanding the lingo is what sets you up for success here. For this reason, we have words ranging in complexity from simple words to complex terms. ## **20 Basic Real Estate Terms & Concepts to Know** So buckle up and let's dive in deep into the real estate world. ### **1. Amortization**: The length of time it will take to pay off a mortgage, calculated by dividing the total mortgage amount by the annual mortgage payments. It is the period over which the loan is planned to be paid off, usually in a range of 15-30 years. ### **2. Appraisal**: An evaluation of a property's value by a professional appraiser. Appraisals help to determine the fair market value of a property, which is used to help set a fair price for the property. ### **3. Closing Costs**: The expenses associated with purchasing a property, such as legal fees, land transfer taxes, and home inspection fees. These costs can add up to thousands of dollars and are typically paid at the time of closing. ### **4. Conditional Offer**: An offer to purchase a property that is contingent upon certain conditions being met, such as the successful completion of a home inspection. It means that the offer is made on the condition that certain things happen, such as financing or home inspection. ### **5. Equity**: The difference between the market value of a property and the outstanding balance on the mortgage. It is the portion of the property that the owner fully owns, and it increases over time as the mortgage is paid down and the property increases in value. ### **6. Fixed-Rate Mortgage**: A mortgage with an [interest rate](https://getnewhouse.ca/blog/what-does-higher-interest-mean-for-housing-market-in-canada) that stays the same for the entire term of the loan. It means that the interest rate will not change for the duration of the loan, providing predictability and stability for the borrower. ### **7. Home Inspection**: A comprehensive examination of a property's condition by a professional home inspector. Home inspection is an important step in the home buying process, as it can help identify any potential issues or defects with the property. ### **8. Interest Rate**: The percentage at which the lender charges interest on a mortgage. It is the cost of borrowing money, and it can have a significant impact on the overall cost of the mortgage. ### **9. Land Transfer Tax**: A tax paid by the purchaser when a property is transferred from one owner to another. It is a government tax that is paid on the transfer of property ownership and varies by province. ### **10. Listing Agreement**: A contract between a property owner and a real estate agent that outlines the terms of the agency relationship. It outlines the services that the agent will provide, the length of the agreement, and the commission that will be paid to the agent. Also, know the truth behind a [home listed for 1$ in the [Canadian Housing Market](https://getnewhouse.ca/blog/what-it-means-when-home-listed-for-one-dollar-in-canada). ### **11. Mortgage Broker**: A professional who acts as an intermediary between borrowers and lenders to help them find the best mortgage product. They can help borrowers find the best mortgage rate and product that suits their needs. ### **12. Mortgage Pre-Approval**: A conditional commitment from a lender to provide a mortgage for a certain amount, subject to the buyer meeting certain conditions. It is a letter from a lender that states that you are pre-approved for a mortgage up to a certain amount, subject to certain conditions. ### **13. Multiple Listing Service (MLS)**: [MLS or Multiple Listing Service](https://getnewhouse.ca/article/what-is-mls-in-real-estate-canada) is a database of properties for sale by real estate agents. It is a system used by real estate agents to list properties for sale, and it is a valuable resource for buyers and sellers. ### **14. Power of Sale**: A legal process that allows a lender to sell a property in order to recover unpaid mortgage debt if the borrower defaults on the mortgage. It is a provision in the mortgage agreement that gives the lender the right to sell the property in case of default. ### **15. Property Condition Disclosure Statement**: A document that outlines any known issues or defects with a property. It is a statement provided by the seller that discloses any known issues or defects with the property. ### **16. Real Property Report (RPR)**: A legal document that shows the boundaries, dimensions, and location of a property, as well as any improvements or structures on the property. It is a detailed survey that shows the property's boundaries and any structures or improvements on the property. ### **17. Title Insurance**: Insurance that protects the buyer and the lender against any issues with the property's title or ownership. It protects against any hidden issues with the property's title, such as outstanding liens or encumbrances. ### **18. Underwriting**: The process of evaluating a mortgage application to determine whether to approve the loan and what terms to offer. It is the process used by lenders to evaluate a borrower's creditworthiness and ability to repay the loan. ### **19. Zoning**: Set of regulations established by local governments that determine how land can be used in a particular area, by dividing the municipality into different zones and regulating the development, density and allowed uses of the land. ### **20. Lease**: A lease is a legal agreement between a landlord and tenant outlining the terms and conditions of renting a property, including the rental amount, length of the lease and responsibilities of both parties. ## **20 Advanced Real Estate Terms & Concepts to Know** Now, let's get an idea on some of the advance terms used in the real estate industry. ## **1. ‘As Is’ clause** Let's learn about this real estate concept from both a seller's and a buyer's point of view. #### **For sellers** "As-Is" clause means property is sold in current condition, with no promises or guarantees from the seller. - It can be a quick and cost-effective option for sellers. - But, it also means that the buyer will have to take on any necessary repairs or renovations. - Legally required to disclose all issues with the property, including providing a detailed statement of condition, prepared by a professional, and based on an inspection. #### **For buyers** "As-Is" properties may come at a lower price, but they can also end up costing more if extensive repairs are needed. - It's crucial to do a thorough inspection of the property to reveal any potential issues. - Consider including a "subject to inspection" clause in the contract, which allows the buyer to back out if the inspection reveals more problems than initially disclosed by the seller. - Important to proceed with caution and have a solid team of professionals, including a real estate agent, home inspector, and attorney, to minimize the risk. For more details, refer [What does As-is clause mean in real estate?](https://getnewhouse.ca/article/what-does-as-is-where-clause-mean-real-estate-canada) ### **2. POA (Power of Attorney)** POA is a legal document that allows you to give authority to another trustworthy person(s) to manage your property or money on your behalf. - The person you appoint is called your attorney, and they do not have to be a lawyer. - It is required that a person be ‘mentally capable’ at the time of signing a POA for it to be valid. - Laws, requirements, and definitions of POA vary across provinces and territories in Canada. - Real Estate and POA In real estate, your attorney can manage buying or selling of real estate in your name, pay bills on your behalf, and even collect money owed to you, unless restricted to do so. Your attorney does not become the owner of your property, they can only manage it on your behalf. ### Types of POA - **General Power of attorney**: Allows your attorney to manage all or part of your finances and property only while you are mentally capable of managing your own affairs. Becomes invalid if you become mentally incapable. Can be limited to a particular task or time period. - **Continuing power of attorney**: Allows your attorney to continue managing your finances and property even if you become mentally incapable to do so. Can start immediately or come into effect when you become mentally incapable. ### **3. MLS (Multiple Listing Service)** MLS (Multiple Listing Service) is a database of properties for sale or rent, maintained by real estate agents and brokers. - It allows agents to share information about properties with other agents in their area, increasing the chances of a sale or lease. - MLS data is only available to real estate agents and brokers who are members of the service. - It includes detailed information about properties, including photographs, prices, and descriptions. - MLS can be a powerful tool for buyers, sellers, and real estate professionals to find and market properties. ### **4. CCIM (Certified commercial investment member)** CCIM (Certified Commercial Investment Member) is a professional designation for commercial real estate professionals. - It is awarded by the CCIM Institute after completing education and demonstrating experience. - Recognized as mark of expertise in commercial and investment real estate. - Only held by a select group of professionals. - CCIMs are trained to analyze investment opportunities. ### **5. CPM (Certified Property Manager)** CPM (Certified Property Manager) is a professional designation for property management professionals. - It is awarded by the Institute of Real Estate Management (IREM) after individuals complete a rigorous education curriculum and demonstrate their experience in property management. - The CPM designation is recognized as a mark of expertise in the property management industry. - Only held by a select group of professionals. - CPMs are trained to manage and maintain properties effectively and efficiently. ### **6. CMA (Comparative Market Analysis)** CMA (Comparative Market Analysis) is a report that compares a property to similar properties in the same area. - It is used to determine a property's estimated value, and to help with pricing decisions when buying or selling a property. - A CMA includes information about recent sales and current listings of similar properties. - It also includes information about market trends, such as average days on market and sale-to-list price ratios. - CMA is a helpful tool for both sellers and buyers to have a better understanding of the market and make informed decisions. ### **7. CRE (Commercial Real Estate)** CRE (Commercial Real Estate) refers to properties used for business or investment purposes. - It includes properties such as office buildings, retail centers, industrial warehouses, and multifamily apartments. - CRE transactions are generally more complex and involve more money compared to residential real estate transactions. - CRE professionals such as brokers, investors, and property managers have specialized knowledge and skills to navigate the market. - CRE can also include special purpose properties such as hotels, hospitals, and self-storage facilities. ### **8. CAC (Central Air-Conditioning)** CAC (Central Air-Conditioning) is a type of air conditioning system that cools a building or home by circulating chilled air through ductwork. - It typically uses a central unit, such as a furnace, to cool the air and distribute it throughout the building. - CAC systems are often more efficient and can cool larger areas compared to individual room air conditioners. - It can also improve air quality by filtering and circulating air throughout the building. - CAC systems require regular maintenance to ensure they are functioning properly and efficiently. ### **9. COI (Certificate of Insurance)** A Certificate of Insurance (COI) is a document that verifies that a specific insurance policy is in effect and provides details on the coverage provided. - COIs are typically issued by insurance companies or their agents and are used to provide proof of insurance to third parties, such as lenders or landlords. - COI includes: insured name, policy number, coverage type/limits, and insurance company/agent contact information. - Some COIs may also include additional information, such as endorsements or exclusions to the policy. - COIs are not the same as the insurance policy itself and do not provide all of the terms, conditions, and exclusions of the policy. ### **10. CMHC (Canada Mortgage and Housing Corporation)** Canada Mortgage and Housing Corporation (CMHC) is a Crown corporation of the Government of Canada. - Its primary function is to provide mortgage loan insurance to Canadian banks and other lending institutions. - This insurance helps protect lenders against losses if a borrower defaults on a mortgage loan. - CMHC also conducts research and provides information on housing markets and trends, as well as housing-related programs and services. - CMHC is funded by premiums paid by borrowers who take out mortgage loans that are insured by the corporation. ### **11. CMA (Comparative Market Analysis)** A [Comparative Market Analysis (CMA)](https://getnewhouse.ca/article/what-is-cma-in-real-estate-canada) is a report that compares a property to similar properties that have recently sold or are currently on the market. - It is used by real estate agents, appraisers, and homeowners to estimate the fair market value of a property. - A CMA typically includes information such as the property's location, size, condition, and features as well as information on comparable properties, including their sale prices and other relevant details. - It is based on recent sales data, it helps in determining the current market value of a property - It is used to set the price for a property that is for sale or to be appraised. - A CMA can also be used to evaluate the potential return on investment for a rental property or a fix and flip investment. ### **12. ARV (After Repair Value)** After Repair Value (ARV) is a term used in real estate investing to refer to the estimated market value of a property after any necessary repairs or renovations have been completed - It is used to determine the potential profitability of a fix-and-flip investment or the maximum purchase price for a property being considered for a rental or rehab project. - ARV is calculated by taking the estimated market value of a property in its current condition, subtracting the cost of repairs and renovations, and then adding any potential value-adds such as an addition or a finished basement. - It is an estimate of the potential of the property in the future after the repairs are done - It helps in determining the maximum amount to be spent on the renovation and property purchase, so it doesn't exceed the potential value of the property after renovation. ### **13. LTV (Loan to Value)** Loan-to-value (LTV) is a ratio used in the mortgage industry to indicate the size of a loan compared to the value of the property being used as collateral. - It is calculated by dividing the loan amount by the value of the property. - It is used by lenders to determine the risk of a loan and the creditworthiness of a borrower. - A higher LTV ratio indicates a higher risk to the lender, as the borrower has less equity in the property. - LTV is used to determine the minimum down payment, interest rate, and maximum loan amount - Lenders usually have different LTV ratios for different types of properties and loans. - A high LTV ratio may require a higher interest rate or mortgage insurance. ### **14. Cap Rate** The Capitalization Rate, or Cap Rate, is a measure used in real estate investing to indicate the rate of return on a property based on its income and purchase price. - It is calculated by dividing the property's net operating income by its current market value or purchase price. - Cap Rate is a metric used to compare the potential returns of different properties. - A higher cap rate indicates a higher return on investment, and a lower cap rate indicates a lower return. - Cap rate is used to evaluate the performance of a property and its potential as an investment. - Cap rate can be used to compare the yields of different properties and areas, even though it is a ratio, it does not take into account the cost of debt. ### **15. GDS (Gross Debt Service)** Gross Debt Service (GDS) ratio is a measure used by mortgage lenders to determine a borrower's ability to afford the mortgage payments on a property. - It is calculated by dividing the total mortgage payments, including principal, interest, property taxes, and heating costs, by the borrower's gross income. - GDS is one of the two ratios used to qualify borrowers, the other being TDS (Total Debt Service). - It is used to evaluate the borrower's ability to meet the housing cost, it is usually expressed as a percentage. - Lenders usually have a maximum GDS ratio, typically between 31% and 39% - A high GDS ratio may indicate that a borrower is over-extended and may have difficulty making mortgage payments. - A low GDS ratio may indicate that a borrower has a lower risk of defaulting on the loan. ### **16. TDS (Total Debt Service)** Total Debt Service (TDS) ratio is a measure used by mortgage lenders to determine a borrower's overall ability to afford the mortgage payments on a property, as well as their other debts and expenses. - It is calculated by dividing the total monthly debt payments, including mortgage payments, credit card payments, car loans, and any other debts, by the borrower's gross income. - TDS is one of the two ratios used to qualify borrowers, the other being GDS (Gross Debt Service). - Lenders usually have a maximum TDS ratio, typically between 42% and 44% - A high TDS ratio may indicate that a borrower is over-extended and may have difficulty making mortgage payments and other debts. - A low TDS ratio may indicate that a borrower has a lower risk of defaulting on the loan and other debts. ### **17. JT (Joint Tenancy)** Joint Tenancy is a type of co-ownership of property where two or more individuals own the property together. - Each owner holds an equal and undivided interest in the property. - Joint tenants have the right of survivorship, meaning that if one of the owners passes away, their interest in the property passes automatically to the remaining owners. - In a joint tenancy, all parties have equal rights and responsibilities on the property - Each joint tenant has the right to use the entire property. - All the parties need to agree to sell the property or make any changes to it. - In case of death, the share of the deceased tenant automatically goes to the surviving tenant/s. ### **18. TIC (Tenancy in Common)** Tenancy in Common (TIC) is a type of co-ownership of property where two or more individuals own the property together, but each has a distinct and separate share of the property. - No right of survivorship, meaning if one owner dies, their share does not automatically pass to the remaining owners. - Allows multiple parties to invest in real estate together or pass assets onto beneficiaries. - Each tenant owns a specific percentage of the property and can sell or dispose of their share. - Tenants have right to use entire property, but cannot sell or make changes without agreement of other tenants. - In case of death, share is passed on according to will or testamentary disposition, not automatically to surviving tenants. - Different from Joint Tenancy which has equal shares and right of survivorship. ### **19. Lien** - A lien is a legal claim on a property that gives a lender or other creditor the right to seize the property if the borrower or property owner fails to fulfill their obligation. - Liens can be placed on property for unpaid debts, taxes, or other financial obligations. - Liens can be either voluntary, such as a mortgage, or involuntary, such as a judgment lien. - Liens are recorded in the public records, this means that they are visible to anyone who searches. the records. - When the property is sold, the lien must be paid off before the sale can be completed. - If the lien is not paid off the property may be foreclosed or seized by the creditor. ### **20. Ontario Agreement of Purchase and Sale** The Agreement of Purchase and Sale (APS) is a legally binding contract between a buyer and a seller for the purchase of a property in the province of Ontario, Canada. - Outlines terms and conditions including purchase price, closing date, and contingencies. - Prepared by a real estate agent or lawyer, reviewed and signed by both parties, and a copy provided to each. - Includes schedule of chattels and fixtures, closing date, and contingencies, if any. - Legally binding contract, both parties have legal obligations and rights related to the sale. - Buyer typically pays deposit held in trust until closing. - Starting point for completion of sale transaction and ownership transfer. ## Knowing the Canadian Real Estate Concepts The understanding of the real estate terms specific to Canada is essential for home buyers, sellers and agents in order to navigate the market and make informed decisions. Being familiar with terms such as CMHC, ARV, LTV, Cap Rate, GDS, TDS, JT, TIC, CMA, APS, and others, can help you understand the mortgage process, evaluate properties, and negotiate the terms of a sale. Whether you're a [first-time home buyer](https://getnewhouse.ca/blog/renting-vs-buying-home-canada-better), an experienced investor, or a real estate agent, having a solid understanding of these terms will help you make the most of the Canadian real estate market. Did we miss any important term here? Do you wish to include any other interesting concept on real estate in Canada, do comment and share your views.