Question 1

How long does it take to close on a home in Canada?

Accepted Answer

Most closings happen 30 to 90 days after an accepted offer. Pre-construction can run two years or more. Build in time for inspection, financing approval, and your lawyer’s title work.

Question 2

What credit score do I need to qualify for a mortgage?

Accepted Answer

Most A-lenders prefer 680 or higher, but 600+ can still qualify with strong income and down payment. Below 600 typically routes you to alternative or B-lenders at higher rates.

Question 3

Should I buy now or wait for rates to drop?

Accepted Answer

Decide based on your timeline, household budget, and the local price trajectory — not a single rate forecast. A small rate move rarely outweighs the cost of moving in and out of an inferior home.

Question 4

Are home inspections still worth it in a competitive market?

Accepted Answer

Yes. A pre-offer inspection or condition lets you discover deal-breakers before you’re legally committed. The fee is small relative to a five- or six-figure repair surprise.

Question 5

What is the FHSA and should I use it?

Accepted Answer

The First Home Savings Account combines RRSP-style deductions with TFSA-style tax-free growth. For most first-time buyers it is the most efficient single shelter.

Question 6

How is the listing price determined?

Accepted Answer

Comparable sales (last 90 days), active competition, condition, and your timeline drive list price. A good agent shows you a written CMA and explains the strategy behind any anchor price.

Question 7

Should I stage my home before listing?

Accepted Answer

Yes for vacant homes and dated furnishings. Light staging routinely returns 5–10x the cost in faster sale and reduced concessions.

Question 8

Is a pre-listing inspection a good idea?

Accepted Answer

It can be, especially in slower markets. It removes negotiating leverage from buyers and helps you fix small items before they become deal points.

Question 9

How do I price in a multiple-offer scenario?

Accepted Answer

Two playbooks: list slightly below comps to invite a bidding date, or list at fair market with no holdback. Both work — the wrong move is splitting the difference.

Question 10

What is the principal residence exemption?

Accepted Answer

It exempts most of the capital gain on the sale of a home you ordinarily inhabited. You still must report the sale on your tax return — that filing is the trigger for the exemption.

Question 11

What is a healthy cash-on-cash return?

Accepted Answer

In stabilized residential, 6–9% is common. Industrial and value-add can target double digits. Anything sub-3% needs strong appreciation thesis or a deliberate IRR play.

Question 12

How do I structure ownership for tax efficiency?

Accepted Answer

Structure follows strategy: personal name for principal-residence and small portfolios; corporation for active flips and growth; family trusts for estate planning. Always model the actual numbers with a CPA.

Question 13

Are REITs better than direct ownership?

Accepted Answer

They are different products. REITs are liquid, diversified, and management-free; direct ownership offers leverage, tax shields, and operational control. Most serious investors hold both.

Question 14

What vacancy rate should I underwrite?

Accepted Answer

Use the local CMHC vacancy plus a buffer (typically 5–8% for SFH and small multifamily). Stress test at 10% to confirm debt service holds.

Question 15

When does a BRRRR work?

Accepted Answer

BRRRR works when ARV cap rate exceeds debt cost AND the refinance pulls 80%+ of capital out. If either fails, it’s just a renovation deal in disguise.

Question 16

Can my landlord raise the rent any amount?

Accepted Answer

Most provinces tie annual increases to a guideline, with notice periods of 60–90 days. Above-guideline increases require an application and approval.

Question 17

Do I need renter’s insurance?

Accepted Answer

Yes — your landlord’s policy never covers your contents or your liability. A typical $20–$30/month policy is among the highest-ROI insurance products you’ll ever buy.

Question 18

Can I break my lease early?

Accepted Answer

You can assign or sublet in most provinces with landlord consent. Outright breaks usually require negotiated buy-outs or proof of grounds (job loss, harassment, unsafe unit).

Question 19

How do I get my deposit back?

Accepted Answer

Document the unit at move-in (photos, video, signed inspection), report damages early, and request a final walk-through. Disputes go to your provincial tribunal — be ready with evidence.

Question 20

Is rent control still in place?

Accepted Answer

It varies. Most provinces apply rent control to existing leases; many exempt newly constructed buildings for several years. Check your specific unit’s build year.

Question 21

What is a triple net lease?

Accepted Answer

A NNN lease passes property tax, insurance, and operating costs through to the tenant in addition to base rent. Most retail and many industrial leases are NNN.

Question 22

How are tenant improvement allowances calculated?

Accepted Answer

TI allowances are usually expressed in $ per square foot and amortized into rent or paid up front. Long-term creditworthy tenants command higher TIs.

Question 23

Should I buy or lease my business location?

Accepted Answer

Buy when you have line-of-sight to long occupancy, capital to deploy, and the property suits the business cycle. Lease when flexibility, growth speed, or capital deployment elsewhere matters more.

Question 24

What is CAM reconciliation?

Accepted Answer

Common Area Maintenance reconciliation is the annual true-up between estimated and actual operating costs. Always audit it — overcharges of 5–15% are common.

Question 25

Can I sublet my office space?

Accepted Answer

Most leases allow subletting with landlord consent. Read the recapture clause carefully — landlords sometimes prefer to recapture and re-lease at market.

Question 26

Where are mortgage rates likely heading?

Accepted Answer

Direction follows the bond market and central-bank policy. Most economists in late 2025/early 2026 forecast slow easing through the year, but never bet a transaction on a single forecast.

Question 27

What is months of supply?

Accepted Answer

Active listings divided by monthly sales. Under 4 months is a seller’s market, 4–6 is balanced, over 6 is a buyer’s market.

Question 28

How does immigration affect housing?

Accepted Answer

It drives rental demand first, ownership demand second. Cities absorbing the most newcomers tend to see the tightest rental markets within 12–24 months.

Question 29

Are condo prices still rising?

Accepted Answer

It varies by submarket and unit size. Micro-units and investor stock have softened in several large cities; family-sized resale condos near transit are still bid.

Question 30

When does the next cycle start?

Accepted Answer

Cycles turn on rate cuts plus credit availability plus supply. Watch all three; a single signal in isolation usually fakes you out.

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