Zoning in Waterloo Region: The 2026 Shift Every Homeowner and Investor Needs to Know

If you own property in Waterloo Region: or you're thinking about investing here: 2026 is shaping up to be a pivotal year. Zoning rules that have governed how and where we build for decades are being rewritten. At the same time, infrastructure challenges are forcing the Region to pump the brakes on some new development.

Whether you're a homeowner curious about what you can build in your backyard, a developer eyeing your next project, or an investor weighing opportunities in Kitchener, Waterloo, Cambridge, Wilmot, or Woolwich, understanding these zoning shifts is essential.

Let's break down what's happening, why it matters, and how it could affect your property decisions in 2026 and beyond.

What Is Zoning and Why Does It Matter?

Zoning is the set of rules that determines what can be built on a piece of land. It controls building height, density, setbacks, and permitted uses: residential, commercial, industrial, or mixed. For homeowners and investors, zoning determines your property's potential: Can you add a secondary suite? Build a fourplex? Convert to commercial use?

When zoning changes, so does opportunity. More permissive zoning can unlock new housing supply, increase property values, and open doors for creative investment. Restrictive zoning: or development freezes: can do the opposite.

The Big 2026 Update: A Region-Wide Development Pause

In January 2026, Waterloo Region made headlines when it announced a halt on new development approvals in high-growth areas. The reason? Water capacity concerns.

Regional staff flagged that our current water infrastructure may not support the pace of growth. As a result, approvals for new developments in parts of Kitchener, Waterloo, and surrounding areas were paused while engineers and planners review capacity and explore solutions: including upgrades to the Mannheim water treatment plant (Source: CBC News, January 2026).

What does this mean for you?

• Developers and investors: Expect delays on new project approvals, especially in areas closest to the freeze zones. Factor uncertainty into your timelines and budgets.
• Homeowners: If you're considering selling a lot for development, be aware that buyers may be cautious until the freeze lifts.
• Buyers: Reduced new construction could tighten supply and support resale prices, but also creates uncertainty around future neighbourhood growth.

This freeze is not permanent, but its duration depends on how quickly the Region can invest in infrastructure and verify capacity. Stay tuned to official Regional updates for the latest.

Kitchener: Growing Together and the CRoZBy Review

Kitchener has been proactive about enabling growth. Through the Growing Together master plan and the Comprehensive Review of Zoning By-law (CRoZBy), the city is paving the way for up to 35,000 new homes: with a focus on higher-density residential towers in strategic locations (Source: City of Kitchener).

Key changes include:

• Permission for taller buildings and increased density near transit corridors and the downtown core
• Streamlined approval processes for multi-residential projects
• Updated zoning categories that reflect modern housing needs

For investors, Kitchener's zoning reforms signal a city ready to accommodate significant population growth. Properties near the ION light rail corridor: with its distinctive red trains: are particularly well-positioned for future development or appreciation.

Waterloo: As-of-Right Zoning for the Missing Middle

The City of Waterloo has taken a bold step to address the "missing middle" housing gap. Through its Housing Accelerator Fund agreement, Waterloo now allows up to four residential units as-of-right and up to four storeys in low-density neighbourhoods on existing residential lots (Source: EngageWR).

What does "as-of-right" mean?

It means property owners can build these configurations without requiring a zoning amendment or special approval: dramatically speeding up the process and reducing red tape.

Priority areas for development include:

• Properties near public transit (especially ION stops)
• City-owned land being converted to housing
• Properties near the University of Waterloo and Wilfrid Laurier University campuses

The city has also removed long-standing zoning restrictions and committed to creating "shovel ready" lands for housing providers.

For homeowners: If you own a single-family lot in Waterloo, you may now have the option to add a secondary suite, garden suite, or even convert to a triplex or fourplex. This could significantly boost your property's income potential and resale value.

For investors: The streamlined approval process and expanded permissions make Waterloo an attractive market for small-scale infill development.

Cambridge and Region: Inclusionary Zoning Takes Effect

As of January 1, 2026, Inclusionary Zoning is now in effect across Waterloo Region, including Cambridge. This policy requires developers to include a percentage of affordable units in new projects, particularly those near major transit stations (Source: EngageWR).

How does this affect development?

• Developers must factor affordable housing requirements into project planning and budgets
• Projects near ION stations and planned rapid transit routes are most affected
• The Region aims to increase affordable housing stock without relying solely on government-funded builds

A note on provincial changes: Ontario proposed a regulation in January 2026 that would exempt certain applications from inclusionary zoning in Kitchener and other municipalities. The final status of this regulation should be verified with current provincial sources, as it could affect project feasibility in some areas (Source: Ontario Government, January 2026).

For investors, inclusionary zoning changes the math on larger projects. Carefully review requirements before committing to acquisitions or new builds.

Wilmot and Woolwich Townships: Growth Meets Farmland

The townships of Wilmot and Woolwich present a different zoning challenge: balancing residential growth with the protection of prime agricultural land.

Key considerations:

• Both townships are under pressure to accommodate growth as urban areas fill up
• Provincial and regional policies restrict development on farmland, limiting where new housing can go
• Settlement areas like Baden, New Hamburg, Elmira, and St. Jacobs are the primary focus for residential expansion

For buyers and investors: Opportunities exist in designated settlement areas, but expect stricter limits on rural land development. Properties within settlement boundaries may see increased demand as urban spillover continues.

For homeowners: If you own land in a township, check with your local planning department about what's permitted. Zoning rules here are often more restrictive than in the cities.

How Zoning Changes Affect Housing Supply, Values, and Investment

Zoning is one of the most powerful levers affecting real estate markets. Here's how the 2026 changes play out:

What Should You Do Now?

• Review your property's zoning: Understand what's permitted today: and what may be possible tomorrow.
• Monitor Regional and municipal updates: The water capacity issue is evolving. Stay informed.
• Consult a local expert: Zoning rules vary by municipality and sometimes by neighbourhood. Get advice tailored to your situation.
• Consider the long game: Short-term uncertainty can create buying opportunities for patient investors.

If you have questions about how zoning changes affect your property, your investment plans, or your next home purchase in Waterloo Region, I'm here to help. Contact me for a conversation tailored to your goals.

---

Kim Louie, Real Estate Broker partnered with Coldwell Banker Peter Benninger Realty | Your Waterloo Region Real Estate Resource
📲 519.573.0837
📧 realtorkimlouie@gmail.com
💻 www.kimlouie.net

---

Not intended to solicit clients under contract. Content is for informational purposes and not guaranteed nor warrantied.

Should You Buy or Wait? The Truth About Waterloo Region Home Prices Right Now

The question on every prospective homebuyer's mind in Waterloo Region right now is simple: should I buy today, or wait for better conditions? With shifting market dynamics, changing interest rates, and evolving government policies, the answer isn't as straightforward as it once was. Let me break down the current reality of our local market and help you make an informed decision.

Current Market Reality: A Buyer's Market Emerges

The Waterloo Region housing market has undergone a significant transformation through 2025. According to the Cornerstone Association of Realtors, home sales dropped 8.8% to just over 6,000 transactions, while the average sale price decreased to approximately $717,000: a 5-6% year-over-year decline. But here's what's particularly interesting for buyers: new listings surged 13.8%, jumping from 10,855 to 12,354 properties.

This shift represents a fundamental change from the seller's market we experienced during the pandemic years. Today's buyers enjoy:

Increased Inventory and Selection
With nearly 1,500 more properties on the market compared to 2024, buyers have significantly more options. This translates to less competition, longer decision-making periods, and greater negotiating power. In neighbourhoods like Laurelwood, Beechwood, and the University area, properties are staying on the market longer, giving buyers the luxury of careful consideration.

Reduced Competition
The frenzy of multiple offers above asking price has largely subsided. While desirable properties in prime locations like Uptown Waterloo or near the LRT corridor still generate interest, the overwhelming majority of listings are selling at or below asking price after reasonable market exposure.

Interest Rates: The Game Changer

Perhaps the most significant factor influencing affordability has been the decline in interest rates from their 2023 peaks. While mortgage rates remain higher than the ultra-low levels of 2020-2021, the downward trend has dramatically improved monthly carrying costs for homebuyers.

For a typical Waterloo Region home priced at $717,000 with a 20% down payment, the difference between peak rates and current levels represents savings of several hundred dollars monthly. This improvement in affordability has been particularly beneficial for first-time buyers looking at condos in areas like downtown Kitchener or near Conestoga College.

Government Incentives: New Support for 2026

The federal and provincial governments have announced significant changes for first-time homebuyers taking effect in 2026. Most notably, the removal of HST on new homes up to $1 million represents substantial savings: potentially $90,000+ on a new construction property.

This policy change is particularly relevant in Waterloo Region, where numerous new developments are underway in areas like the Innovation District, downtown Kitchener's core, and along the LRT corridor. Projects like those planned for the former Breithaupt Block or new developments in Cambridge's Galt core could benefit significantly from this tax relief.

Price Forecast: What to Expect in 2026

Market analysts predict relatively flat pricing through early 2026, with a potential slight decrease of up to 3%. This stability is expected due to several factors:

Balanced Inventory Levels
The current inventory increase appears to be stabilising rather than accelerating, preventing sharp price declines while maintaining buyer advantages.

Economic Uncertainty
Ongoing adjustments in the technology sector: particularly relevant given our region's tech concentration: continue to influence local employment and housing demand.

National Trends
While national forecasts suggest a 6.3% sales rebound with 3% price increases, Waterloo Region may not follow this pattern exactly due to our unique local factors.

Property Type Considerations

Single-Detached Homes
The detached home segment continues to face the greatest affordability challenges, with average prices of $839,394 in December 2025. However, this segment also offers the greatest negotiating opportunities, particularly in established neighbourhoods like Forest Heights, Westmount, or Stanley Park.

Condominiums
Condos were the only property type showing sales increases in 2025, reflecting buyers' shift toward more affordable entry points. Units in buildings like those near Waterloo Town Square or downtown Kitchener's growing high-rise inventory remain active.

Townhouses
Townhomes continue attracting move-up buyers and young families seeking a balance of affordability and space. Developments in areas like RIM Park or newer sections of Cambridge offer particular value.

Neighbourhood Spotlight: Where to Focus

Downtown Cores
Both Kitchener and Waterloo's downtown areas offer excellent value, particularly with LRT accessibility and ongoing revitalization efforts.

University Area
Properties near University of Waterloo and Wilfrid Laurier University maintain steady demand, offering both owner-occupancy and investment potential.

Cambridge
Often overlooked, Cambridge neighbourhoods like Preston or areas along the Grand River offer excellent value for buyers seeking larger properties at lower price points.

The Case for Buying Now

Current conditions strongly favour buyers ready to move. The combination of increased inventory, downward price pressure, improving interest rates, and pending government incentives creates what industry experts describe as "a good year for first-time buyers."

Key advantages include:

• Maximum selection and negotiating power
• Improved affordability compared to 2023-2024
• Access to new government incentives
• Stable pricing environment reducing urgency pressure

The Case for Waiting

While conditions favour buyers, some considerations support waiting:

• Potential for additional 2-3% price declines in early 2026
• Possible further interest rate improvements
• More inventory potentially entering the market

However, these benefits must be weighed against the risk of increased competition if market activity rebounds later in 2026.

Making Your Decision

The decision ultimately depends on your individual circumstances. If you've found a property that meets your needs and budget, current market conditions provide excellent negotiating opportunities. The days of needing to act within hours are largely behind us.

For first-time buyers, the combination of current inventory levels and upcoming government incentives makes 2026 particularly attractive. Move-up buyers benefit from both selling and buying in favourable conditions.

Key Questions to Ask Yourself:

• Have you secured mortgage pre-approval at current rates?
• Does the property meet your medium-term needs (5+ years)?
• Are you prepared for homeownership responsibilities?
• Do you have adequate emergency funds beyond your down payment?

Bottom Line

With prices expected to remain mostly stable rather than experience significant declines, waiting may only yield marginal additional savings while risking slightly higher competition if market activity rebounds. The current environment offers strategic opportunities for informed buyers ready to move forward.

Whether you're a first-time buyer eyeing a condo near the universities, a growing family considering Laurelwood or Beechwood, or an investor exploring Cambridge's potential, now represents one of the more buyer-friendly periods we've seen in recent years.

The key is working with experienced local representation who understands neighbourhood nuances, pricing strategies, and negotiation tactics specific to today's market conditions.

---

Kim Louie, Real Estate Broker partnered with Coldwell Banker Peter Benninger Realty | Your Waterloo Region Real Estate Resource
📲 519.573.0837
📧 realtorkimlouie@gmail.com
💻 www.kimlouie.net

*** Not intended to solicit clients under contract. Content is for informational purposes and not guaranteed nor warrantied ***

Waterloo Region Housing Market Ends 2025 with Rising Inventory and Declining Sales

 The statistics provided in this release are based on information from the ITSO MLS® System. Multiple MLS® Systems operate within Ontario, and while none can be guaranteed to include every property listed or sold within a given area, they effectively illustrate market trends.

WATERLOO REGION, ON (January 7, 2026) —There were 6,177 homes sold in Waterloo Region through the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone) in 2025, a decrease of 8.8 per cent compared to 2024, and a 25.3 per cent compared to the previous ten-year average for annual sales.

On a monthly basis, 306 homes were sold in December, a decrease of 9.5 per cent compared to the same period last year and a decrease of nearly 19.5 per cent compared to the average number of homes sold in the previous ten years for the same month.

“In Waterloo Region, we observed an increase in new listings coming onto the market in 2025, accompanied by softening sales and longer selling times. This trend occurred during a year when affordability remained a challenge for many aspiring homebuyers, as global and economic uncertainty contributed to a weaker housing market. With the downward pressure on housing prices, and more options for buyers, it proved to be a good year for those first-time buyers who were able to get into the market,” says Christal Moura, spokesperson for the Waterloo Region Market.

“As we look ahead to 2026, we anticipate a more stable market, particularly with the introduction of new government incentives. Both the provincial and federal governments have announced plans to remove the Harmonized Sales Tax (HST) from new homes up to $1 million for first-time buyers. This initiative should make homes more affordable and help boost the housing market, however, we would like to see this policy expanded to all homebuyers, to make an even greater impact,” says Moura.

Total residential sales in December included 192 detached homes (no change from December 2024), and 52 townhouses (down 39.1 per cent). Sales also included 35 condominium units (down 14.6 per cent) and 26 semi-detached homes (up 23.8 per cent).

For 2025, total residential sales included 3,779 detached (down 7.7 per cent), and 1,174 townhouses (down 14.4 per cent). Sales also included 727 condominium units (down 11.6 per cent) and 484 semi-detached homes (up 1.5 per cent).

In December, the average sale price for all residential properties in Waterloo Region was $716,911. This represents a 5.9 per cent decrease compared to December 2024 and a 0.5 per cent increase compared to November 2025.

• The average sale price of a detached home was $839,394. This represents a 6.0 per cent decrease from December 2024 and an increase of 1.4 per cent compared to November 2025.
• The average sale price for a townhouse was $568,249. This represents a 9.8 per cent decrease from December 2024 and a decrease of 4.4 per cent compared to November 2025.
• The average sale price for an apartment-style condominium was $366,784. This represents a 22.9 per cent decrease from December 2024 and a decrease of 13.1 per cent compared to November 2025.
• The average sale price for a semi was $601,535. This represents a decrease of 6.7 per cent compared to December 2024 and a decrease of 5.6 per cent compared to November 2025.

Year-to-date, the average sale price for all residential properties in Waterloo Region decreased 3.7 per cent to $754,199 compared to 2024.

• The year-to-date average price of a detached home was $876,896. This represents a 3.7 per cent decrease compared to 2024.
• The year-to-date average sale price for a townhouse was $611,256. This represents a 4.3 per cent decrease compared to 2024.
• The year-to-date average sale price for an apartment-style condominium was $437,084. This represents a 7.4 per cent decrease compared to 2024.
• The year-to-date average sale price for a semi was $635,412. This represents a decrease of 4.1 per cent compared to 2024.

The Hidden Risks of Preconstruction Condo Purchases in Waterloo Region: What Every Buyer Should Know

The Reality of Project Cancellations and Delays

Since early 2024, more than 30 preconstruction projects representing nearly 7,000 units have been cancelled or scrapped across the Greater Toronto and Hamilton Area. While Waterloo Region hasn't experienced cancellations at this scale, the broader market trends create uncertainty for local buyers.

Construction delays have become increasingly common, with projects like Station Park Green in Waterloo experiencing extended timelines due to financing challenges and supply chain disruptions. When delays occur, buyers face interim occupancy: a period where you're paying occupancy fees, property taxes, and utilities without actually owning the unit.

Key Risk: Developers can delay projects for years without penalty, while buyers remain locked into their purchase agreements with limited recourse.

Appraisal Shortfalls: When Reality Meets Projections

One of the most dangerous risks facing preconstruction buyers is the appraisal shortfall. Recent completions in Ontario show resale values coming in below original pre-sale prices, creating a gap that buyers must cover with cash at closing.

For example, if you purchased a unit at DTK Condos for $650,000 in 2022 but it appraises for only $580,000 at completion, your lender will only finance 80% of the appraised value ($464,000), leaving you to find an additional $186,000 in cash to close.

Understanding Your Deposit Protection

Ontario's Tarion Warranty Corporation provides some protection for preconstruction purchases, but coverage has limitations:

What Tarion Covers:

• Deposits up to $20,000 per purchaser if the builder fails to complete the project
• Major structural defects for up to seven years
• Building envelope issues for up to seven years

What Tarion Doesn't Cover:

• Deposits exceeding $20,000
• Market value changes
• Delays in completion
• Changes to building amenities or specifications

The Ontario New Home Warranties Plan Act requires builders to provide warranty coverage, but this doesn't guarantee project completion or protect against market fluctuations.

The 10-Day Cooling-Off Period: Your Safety Net

Ontario's Condominium Act provides buyers with a 10-day cooling-off period after signing a preconstruction purchase agreement. During this time, you can cancel the contract for any reason and receive a full refund of your deposit.

Important Details:

• The 10-day period begins when you receive the disclosure statement
• You must provide written notice to cancel
• The developer cannot waive this right
• No penalties apply for cancellation during this period

Local Project Challenges: Lessons from Waterloo Region

Several Waterloo Region developments have highlighted common preconstruction risks:

Station Park Green (Waterloo): Originally scheduled for completion in 2023, this project faced delays due to construction financing challenges and city approval processes. Buyers experienced extended interim occupancy periods with monthly fees exceeding $800.

DTK Condos (Kitchener): While successfully completed, early purchasers who bought at peak pricing in 2021-2022 found their units worth less than purchase price upon completion, creating challenges for those seeking to refinance or sell.

URL Condos (Waterloo): This student-focused development near the University of Waterloo experienced specification changes mid-construction, reducing planned amenity space and altering unit layouts from original marketing materials.

Financing Risks: When Pre-Approval Isn't Enough

Mortgage pre-approvals for preconstruction purchases are conditional, not guaranteed. Several factors can disrupt your financing at closing:

Interest Rate Changes: If rates rise significantly between purchase and completion, you may not qualify for the same mortgage amount.

Lending Policy Changes: Banks regularly adjust their lending criteria, particularly for investor properties and preconstruction purchases.

Personal Financial Changes: Job loss, credit score changes, or increased debt levels can affect your mortgage approval.

Appraisal Issues: As discussed earlier, low appraisals can reduce your available financing.

The Assignment Challenge

Unlike resale properties, preconstruction units cannot be easily sold before completion. Assignment restrictions vary by developer, but typically include:

• Developer approval requirements
• Assignment fees (often $5,000-$10,000)
• Limited marketing permissions
• Original purchaser liability for completion

This illiquidity can trap buyers in unfavourable situations when circumstances change.

Cash Flow Pressures for Investors

Many preconstruction buyers are investors seeking rental income properties. However, carrying costs have outpaced rental income growth:

Typical Monthly Carrying Costs:

• Mortgage payment: $2,800-$3,500
• Maintenance fees: $600-$900
• Property taxes: $400-$600
• Insurance: $150-$250

Rental Income Reality:

• One-bedroom units: $1,800-$2,200
• Two-bedroom units: $2,400-$2,800

The shortfall between carrying costs and rental income can exceed $1,000 monthly, requiring significant cash injection from investors.

Protection Strategies for Buyers

Despite these risks, preconstruction purchases can still be viable with proper precautions:

Due Diligence Steps:

1. Research the developer's track record and financial stability
2. Review all disclosure documents thoroughly during the cooling-off period
3. Engage a real estate lawyer familiar with preconstruction contracts
4. Stress-test your finances for 20% appraisal shortfalls and higher interest rates
5. Maintain liquid reserves for unexpected costs

Contract Negotiations:

• Seek cap limits on interim occupancy fees
• Negotiate specification change protections
• Include inflation adjustment clauses for extended delays
• Review assignment rights and restrictions

The Importance of Professional Guidance

Preconstruction purchases involve complex legal and financial considerations that extend well beyond typical real estate transactions. Working with experienced professionals: including real estate brokers familiar with preconstruction contracts, real estate lawyers, and mortgage brokers: can help identify and mitigate risks before they become costly problems.

The Waterloo Region market's proximity to major universities and tech sector employment creates unique dynamics that require specialized knowledge. Understanding local development patterns, municipal approval processes, and rental market conditions is crucial for making informed decisions.

Making Informed Decisions

While preconstruction condos can offer opportunities for both homeowners and investors, the risks are substantial and growing. Recent market conditions have highlighted the importance of thorough due diligence, adequate financial preparation, and realistic expectations about both timeline and financial outcomes.

Before committing to any preconstruction purchase in Waterloo Region, carefully evaluate your financial capacity to handle delays, appraisal shortfalls, and carrying costs that may exceed initial projections. The 10-day cooling-off period provides crucial time to review all documentation and assess whether the purchase aligns with your long-term financial goals and risk tolerance.

---

Kim Louie, Real Estate Broker partnered with Coldwell Banker Peter Benninger Realty | Your Waterloo Region Real Estate Resource
📲 519.573.0837
📧 realtorkimlouie@gmail.com
💻 www.kimlouie.net

*** Not intended to solicit clients under contract. Content is for informational purposes and not guaranteed nor warrantied ***

How to Pay Off Your Mortgage Faster and Save Thousands of Dollars

There's a major sense of accomplishment and peace of mind of owning your home outright. Paying off your mortgage sooner can make sound financial sense by saving you thousands of dollars in interest costs. Learning how to save on your mortgage can slice years off your loan. Finding out if you can save on your mortgage payments won't cost you anything, and you will discover whether you have the best loan available for your individual circumstances.

1. Shop around for the best mortgage possible with your credit score.
When a mortgage company has a small overhead cost to stay in business, it typically means that they will not charge you unreasonable ongoing service fees. Make sure you know the fees charged by your mortgage company before you sign on a loan.

2. Select weekly or bi-weekly mortgage payments.
A bi-weekly mortgage payment means you make 26 half-monthly payments instead of 12 monthly payments. But keep in mind that unless your initial mortgage is set up as bi-weekly, some lenders charge an upfront fee of $300-$400 to make bi-weekly payments, and even though you're making a payment every two weeks, the lender only applies it once a month.

If you make bi-weekly payments of $415 instead of monthly payments of $830, you could save almost $27,000 in interest over the entire amortization period of your mortgage, and you could own your home about 4-1/2 years sooner. 

3. Prepay a little extra every month, or any time during the term of your mortgage. Increasing your payment by even a few dollars each month will pay down your principal amount faster. It is a good idea to pay 10-15% more each month. This amount shouldn’t put too much extra burden on you, and it will help to pay off your mortgage much faster. For example, if you increased your mortgage payments by just $170 from $830 to $1,000, you could save almost $48,000 in interest over the entire amortization period of your mortgage, and you could own your home about 8 years sooner.  

4. Make an annual lump sum payment.
Use your tax refund, work bonus, or any extra money you can save and apply it directly to your principal amount. Check your mortgage documents to find out how often you can prepay and in what amount. Many loans don't prohibit you from doing this; however, the lender may have parameters on how many extra payments you can make. Ask this question when shopping for a mortgage loan. 
 
5. Pay as much as you can at renewal time.
Most mortgages become open at renewal. This means you can pay as much as you want on your mortgage. If you chose a 5-year, fixed-rate term, and made a $10,000 lump-sum payment every time your mortgage came up for renewal, you would save about $37,481 in interest over the entire amortization period of your mortgage. 

6. Red flag your extra payments.
Always check your mortgage statement to make sure that any extra payments you made are being counted against the principal and that your bank has accurately documented your payments. Make the extra principal payments on a separate cheque and make a note on the memo line stating that the payment should be applied to principal reduction only. At tax time, tally up those payments and make sure they have been applied correctly.  

7. Stay informed.
Once you have a mortgage, aside from making the payments, it's easy to forget about it altogether. Keeping up-to-date on interest rates and new products could save you money. You may want to shop for another product that better suits your needs. For example, to qualify for a mortgage, you may have started out with a lower-rate adjustable-rate mortgage, but you want to switch to a more long-term, affordable fixed-rate mortgage later.  

When Should You Hold Off on Paying Your Mortgage Faster?
While paying down a mortgage quickly may be a wise decision for many homeowners, it's not for everyone. For example, you may want to switch to investing in mutual funds when yields return 10-12% annually. For most people, though, this is not a mathematical issue but one of security, as they just want that mortgage paid off. For very debt-averse people, the peace of mind of paying off the house more quickly is worth the price. 

Secondly, if you are planning on moving soon, you may want to hold off investing money into your existing home, as you may need the money for a down payment, closing costs, or buying new furniture for your new home.  

As you can see, with a little research, you could save on your mortgage. The truth is: the banks won’t tell you how to save money on your mortgage as they want to make interest on the money that they have loaned to you. If they were to help you save money, they would lose money, and their profits would stagnate. Make sure that if you implement changes to save on your mortgage, it is the right decision for you.

Why Should You Use a Real Estate Agent?

Real estate transactions are complicated and can be costly if completed incorrectly. Selling or buying a property is a process that is bound to be a little nerve-wracking and emotional. Buying or selling a property requires in-depth knowledge and experience in a wide range of disciplines.

A real estate agent is more than a "Salesperson". He or she is a trained professional who acts on your behalf and provides you with a clear understanding of the legal issues and potential pitfalls. After all, one wrong move could result in unnecessary costs and frustration.

Working with a reputable real estate agent that you trust can be the deciding factor in whether your house-selling or buying experience is positive or negative. There are many reasons why it pays to use a realtor, and here are a few:

Setting or negotiating the right price
One of the first things a real estate agent presents to a seller is a competitive market analysis (CMA). The CMA is a study of the current market trends and recent sales in your area. Accordingly, your agent will suggest a listing price. Setting the right listing price is crucial because an over-priced property can turn away potential buyers.

If you are buying, your agent will use the CMA to help you negotiate a fair deal.

Greater market exposure and efficiency
When selling, your real estate agent will typically provide you with a marketing plan that details what he or she will do to sell your home. This may include coordinating open houses, writing and placing ads in various media, printing and distributing brochures and showing your house to potential buyers. Agents also have exclusive access to two resources that are often critical to selling a home: other real estate agents and the Multiple Listing Service (MLS).

If you are buying, the same resources will be used by your agent to help weed out properties that do not match your requirements and help you shorten your search cycle.

Neighbourhood knowledge
Agents usually have a better understanding of what buyers can get for their money in the neighbourhood they want to buy into. He or she should also have important information about the neighbourhoods, including noise levels, schools, shopping, property taxes and demographics. For sellers, these details are equally important, as they affect the value and marketability of a home.

Connections and objectivity
When selling, your agent can provide an unemotional view of the home and what needs to be added or replaced to make it more appealing to buyers.

If you are buying, your agent also has the tools and connections to make you aware of the buying power you have. He or she will help you look at your down payment, purchasing options and borrowing options that can help you find the home of your dreams. He or she can also help you set realistic expectations for what your options are for purchasing a home.

Closing assistance
Finally, your agent can help complete the purchasing and closing documentation. Once an offer has been accepted, your agent may arrange for a home inspection, financing, a title search and a real estate lawyer, as well as ensure that all repairs and stipulations in the contract are completed.

If you are selling, your agent will make sure that all of the legalities involved are followed correctly.

 

Selling Your House: When Will You Get the Best Value?

People decide to sell for a wide variety of reasons. It could be a work-related move, an expansion to accommodate new arrivals, or a reduction in the need for space due to a decrease in the number of family members living at home. Some people just fancy a change every once in a while, and others decide to cash in when they think they’ve ridden price rises as far as they can.

But is there a good or bad time of the year to sell?  In most cases, certain times of year are definitely more favourable than others.

Should I sell my house in the Spring Real Estate Market?
The Spring market is a great time to list your house for sale. You will find that this is the most traditional time to sell a house. Therefore, the pool of buyers who are looking may be at its largest. You will, of course, get more money for the sale of your house if you have the most people looking at it.

The downsides of the Spring Real Estate Market
You are not the only seller who is aware of the importance of the Spring Real Estate Market. You may find that there are many houses for sale at this time of year. In markets that are slowing down in many locations, this may drive prices down further.

In addition, there may be many 'lookers' at this time of the year. You will probably find that the number of noisy neighbours and people who are just window shopping are at their peak at this time of year, too.

What about selling my house in the Summer?
Summer is not as busy as the Spring Real Estate Market. Many buyers have already purchased their new homes and are planning on moving during the Summer; however, some have not. You may find that there are leftover buyers who have not yet found their dream houses. Maybe yours will fit the bill.

There may also be less inventory on the market, as many houses will have sold during the Spring Real Estate Market. If there are fewer houses to look at, there is an increased chance that yours will sell at a good price.

Fall Real Estate Market
The Fall is probably the second busiest time in real estate. Kids are back in school, vacation time is over, and many people use this time to look for new houses. Often, the buyers will target the Christmas vacation time as a good time to move. You will find that this market kicks in right after Labour Day and runs through Thanksgiving.

You may also find that this is a good time to sell your house. There will probably be more buyers who are ready, willing and able to buy your house during this time of year than during the summer. However, inventory may jump slightly.

One pitfall to be aware of is that Winter is coming. If you are selling your house during the Fall Real Estate Market, be sure not to overprice it. If it does not sell by Thanksgiving, you may be forced to reduce the price more than you would like.

Is it possible to sell real estate during the Winter?
Absolutely! There are many good reasons to sell your house at this time of year. If you find that it is necessary to do so, don't panic. It is essential to price your house correctly at this time of year; however, there will be a limited amount of buyers, so make sure that they don't overlook your house.

Although there will be fewer buyers at this time of year, you can be pretty sure that they are serious, qualified buyers. Most people just don't have the time to be window shopping or looking at houses they have no intention of buying during the holiday season. The same will hold true for the cold month of January. If a buyer makes an appointment to see your house during this time of year, he or she will most likely be a serious buyer.

In addition, your house may be decorated for the holidays, and this is a great time to show potential buyers how warm and inviting your house is.