Buying a home is a monumental decision, especially in Canada's diverse and dynamic real estate market. Whether you're a seasoned buyer or a first-timer, understanding the intricacies of the process is vital. In this comprehensive guide, we'll explore the first five of the most frequently asked questions about purchasing a house in Canada, backed by reliable sources and enriched with additional tips.

1. What's My Budget?

Orleans-Ottawa Real Estate Market Update covering Q1 of 2023 (January to March). What neighbourhoods of Orleans are performing the best? Which neighbourhoods of Orleans are performing the worst?

Sales volume is down but competition is fierce as the market see low inventory. This means more bidding wars. 1 in 5 properties sold in March sold over the asking price.

Ottawa's real estate market has seen a bounce from the lows of December 2022. This has mostly been due to the common belief that we have already seen a peak in mortgage rates and the Bank of Canada is likely to cut the Benchmark Rate in the future.

Low inventory of homes and condos has translated into increased competition and offer hold backs and bidding wars seem to be back.