Launch date and other info about First Time Home Buyer Incentive

The federal government’s plan to boost Canadian homeownership among middle class families now has an expected launch date.

The First Time Home Buyer Incentive is set to be available from September 2, 2019, Jean-Yves Duclos, the minister responsible for CMHC has announced.

The incentive will allow eligible first-time homebuyers who have the minimum down payment for an insured mortgage with CMHC, Genworth or Canada Guaranty, to apply to finance a portion of their home purchase through a form of shared equity mortgage with the Government of Canada.

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The cost of living in Canada has increased again

Canadian inflation data released Wednesday reveals that the cost of living is rising; but that should give the Bank of Canada another reason to maintain interest rates at their current level.

Data from Statistics Canada shows a 2.4% rise for the Consumer Price Index on a year-over-year basis in May, up from a 2.0% increase in April. This was the largest gain since October 2018 and beat expectations for 2.1% according to experts polled by Bloomberg.

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Millennials need a major home price drop or sharp wage increase

Despite some lower prices recently, many young Canadians are still far from able to afford to buy a home according to a new report.

Generation Squeeze says that in many cities there would have to be a major drop in home prices or a significant rise in wages to enable millennials to enter the housing market.

For example, Vancouverites would need their typical full-time wages to increase to $200,400 or four times their current level; or house prices would need to fall by three-quarters (a $795K drop) to make homes affordable (based on CMHC’s measure of households spending no more than 30% of their pre-tax earnings on housing.)

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Featured Listings

287 Bastedo Crt.


(2067 sq.ft of living space) shines with pride and upgrades, nestled in on a quiet cul de sac, in peaceful mature Milton. Play, relax or entertain on your private huge pie-shaped lot with its beautiful trees and perennial gardens further enhancing the new fencing. A delicious “Barzotti custom kitchen cooks up back-splash, china crowned cabinets, u-mount lights, flat ceiling topped in pot lights, breakfast bar, S/S appliances and a convenient door to the patio. The formal dining rm., is open to an elegant sun-filled living rm., dressed in a California shutter, French doors  and a built-in bookcase. Jatob Brazilian hardwood anchors the main lvl. Upgraded light fixtures, trims and professionally painted thru-out. Master bdrm. + 3 bdrms., and a renovated 4pc.bath complete the upper level. Cozy up around the stunning wood burning fireplace in the finished recreation rm., offering plenty of space for a separate games or children’s play area, finished in quality laminate. The 3pc.bath/laundry rm., delivers another functional space. Curb appeal galore! Interlock covered front patio, walkway and edge double drive fits 4 Vehicles. Selling with confidence-Home inspection has been completed.



3228 Steeles Ave. W.


Embrace its character perfectly blended with modern finishes. Just minutes to hwy #401 and downtown Milton. Admire Escarpment views & sunsets on your deck, fully fenced backyard. Professional fully renovated modern kitchen; Crowned cabinets, quartz counters, back-splash, pot lights, S/S appliances, and a huge 6 seat island. Slide the true barn wood door to find your in-suite laundry. Cozy living rm. with a wood feature wall, and century old support beams. Upper level you will find a stunning renovated 3pc bath; heated floors, double sink, exposed brick, linen cabinet, and huge seamless glass shower on the upper level.  A Spacious Master with dbl. w/mirrored closet. Upgrades galore; hardwood, light fixtures, crown molding, newer windows. A convenient vestibule, storage shed, 2-3 parking spaces, front & backyards with their open views, are more reasons you want to own the most affordable town home in Milton. Unique with History – home is part of the Heritage Character list.


These renovations will boost appraisal values the most

Homeowners wanting to maximize the appraisal value of their home should think about outside space.

Even though kitchens and bathrooms will have an upward effect on values, the Appraisal Institute says outdoor improvement projects will have a larger benefit.

“The latest research shows that home renovations focused on the exterior of a property are most likely to generate a positive cost-to-value ratio,” said Appraisal Institute President Stephen S. Wagner, MAI, SRA, AI-GRS. “However, not all home improvement projects offer a full return on investment – cost doesn’t necessarily equal value.”

Replacing a garage door or adding a deck will also provide additional value for sellers.

However, Wagner says that sellers should also consider how they can make their home stand out from others in the neighbourhood.

“Renovations that move a property well beyond community norms are typically not worth the cost when the owner sells the home, and likely will be considered excessive” Wagner said.

A closer look: what the federal budget means for home buyers

While our industry continues to lobby for ways to make home buying easier for Canadians, we don’t always get everything we want when a new budget rolls around each spring. However, the recent budget included a few steps in the right direction with some Housing Affordability Measures that will be applicable for many in Brampton and surrounding areas. There are three primary measures: an incentive for first-time homebuyers, an increase in the RRSP funds first-time buyers can access for a down payment, and a special provision for divorced Canadians trying to purchase a home. Here are the details:

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