r/RealEstateCanada

I’ve been watching the listings in my area for a few weeks now, and it feels like we’re in a strange stalemate. Even with the Bank of Canada holding rates steady at 2.25% recently, it doesn't seem like the "floodgates" have opened like everyone predicted. Sellers still seem to be holding out for 2022 prices, while most buyers I know are just sitting on the sidelines waiting for a "proper" correction or more inventory that isn't just overpriced condos.

It’s exhausting trying to timing this market when the sentiment changes every other week. Are you guys seeing any actual movement on the ground in your cities, or is everything just sitting? Also, for those who finally bought recently, did you feel like you got a fair deal, or are you already worried about where things are heading by the end of the year?

I have a design for a fourplex in Halifax that is 9,000 SF total living area. I'm considering converting one of the units into two units. So, building a 9,000 SF fiveplex.

My understanding is this would no longer be a part 9 residential building but a part 3 commercial building so would need a sprinkler system, increased fire separation, etc. Does anyone have a rough construction number as to what the additional cost would be for moving from a fourplex to a fiveplex?

Do any agents have a sense to when the Spring market may kick into gear more?

Looking in Hamilton (mountain) for a small family home, and it’s been crickets for the last few weeks. Started looking just after the New Year drop finished, unfortunately.

I’m hoping with Easter being over and better weather starting we might get an uptick in listings soon - or am I just being hopeful?

Insights appreciated! :)

So i purchased a house with 2 other people on title 2 years ago and one of them has absolutely gone bat shit insane and it’s a toxic environment to be in. To paint you a picture, the authorities have been involved multiple times and this person desperately needs to be medicated.

I’m currently looking to leave ASAP, what would be the consequences if I just left and stopped paying the mortgage? Would the bank simply seize the property or could legal action be taken against me?

If i just left, is that an automatic forfeit on my 1/3 share?

It’s gotten so bad that I just want peace and don’t care about the outcome. Pls help!

Any recommendations for a real estate lawyer in Ontario would be appreciated as well👏🏻

I recently bought a duplex and realized most real estate calculators are either too basic or painful to use.

So I built one specifically for Canadian (compounding) multi-unit investors

- Handles multi-year projections (not just snapshots)

- Lets you test different scenarios (rent changes, repossessions, expenses, etc.)

- Can import from PDFs / listings (still improving this)

- Numbers have been cross-checked against custom Excel models

It’s built for people actually trying to analyze deals, not just get a quick estimate.

Would appreciate honest feedback. If anything feels off about the numbers or UX, please let me know :)

https://reicalc.ca

Anyone have experience with the above listed insurers for Latent Defects, I doubt they are the UW.? Any thoughts from the community?

Me and my wife got our offer accepted by the sellers and it's conditional upon the purchase of our property (escape clause).

We recently saw another property in the same area with a much cheaper listing price. I'm wondering if I can still put in an offer despite already having signed an APS. If not, should I ask our realtor to negotiate with the realtor of the second property?

Any advice is appreciated.

Beware of HST scams and purchase price, some builders keep original price in the document in the front page but in the HST schedule clause section. They keep big paragraph which you think, it is standard but they keep these kind of sentences where you won’t notice as “ purchase price is minus the HST rebate, in case person is not qualified for HST rebate for some reasons, purchaser will pay HST rebate to builder. Be aware of these scams,

Please read every line in the purchase agreement before sign, these sales agents and builders knows how to scam people.

Also when sales agents says when price reduction happens builder will give price adjustments, don’t listen to these kind of words, ask them to give written confirmation before you sign the documents unless builder put price protection clause in the agreement.

Prices won’t go up and quickly, please don’t rush to buy. Also, don’t listen to sales agents saying prices will go up. Having lots of cars inform of sales office is also big scam to show that lots of buyers. That’s not true, they are arranged by to show the crowd.

This happened in Markham with big and trusted builders also.

When prices falls, sales agents saying vendor will send green signals to send price adjustments it nothing happens, they drag the story till the closing date so that they hold your deposit and force you to close the deal as per price agreement. This is fact and happened. Please be aware of these kind of situations.