Real Estate News

NEW MORTGAGE REFORMS TO HELP CANADIANS

Posted on Oct 02, 2024 in Real Estate News



Many Canadians work hard to achieve the dream of owning a home. Yet, skyrocketing mortgage payments have made homeownership increasingly difficult, especially for Millennials and Gen Z. To address this challenge, the Canadian government has rolled out significant mortgage reforms aimed at making homeownership more accessible, particularly for first...

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KEY CHANGES TO THE R-CG ZONING BYLAW

Posted on Sep 05, 2024 in Real Estate News



Blanket rezoning was passed (with amendments) on a 9-6 vote earlier this year, and it is now officially in effect as of August 6th.

WHAT DOES THIS MEAN?

  • R-CG is now the citywide base low-density residential zone.
  • R-G is now the base low-density residential zone in developing areas.
  • H-GO zoning has been implemented in areas identified in approved Local...

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NEW SECONDARY SUITE INCENTIVE PROGRAM

Posted on Jun 15, 2024 in Real Estate News



If you're considering adding a legal secondary suite to your home or future home, we have news for you! The City of Calgary is working hard to combat the housing crisis and provide more housing for Calgarians, both veterans and newcomers, by offering an incentive to encourage and assist homeowners in building legal secondary suites. The Secondary S...

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CALGARY PASSES CITYWIDE RE-ZONING BYLAW WITH AMENDMENTS

Posted on May 15, 2024 in Real Estate News



Blanket rezoning has been passed with a 9-6 vote, but with some amendments to the original proposal. On Tuesday, May 14th, a record-breaking City Council meeting adjourned after 16 days leading to the long-awaited decision from Calgary's lawmakers. Rezoning has been a hot topic since it was first proposed in 2023, and as suggested by the longest ev...

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LONGER AMORTIZATION AVAILABLE FOR FIRST-TIME HOMEBUYERS

Posted on Apr 24, 2024 in Real Estate News



The news that the federal government will now allow a 30 year amortization period -- instead of 25 -- for certain first-time homebuyers has Canadian families breathing a sigh of relief. With the current housing market putting home ownership out of reach for so many, this change coming into effect August 1, 2024 will open up the doors for Canadians...

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GOVERNMENT CANCELS FIRST-TIME BUYER INCENTIVE

Posted on Mar 01, 2024 in Real Estate News



There's a change coming for prospective first-time homebuyers in Canada. The Canada Mortgage and Housing Corporation (CMHC) says it is ending the First-Time Homebuyer Incentive program (FTHBI), a plan that was meant to help reduce monthly mortgage payments. In a nutshell, the government offered a loan of up to 10% of the purchase price, which would...

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