Durham Region Real Estate Blog - Advice for Home Buyers

Durham Region Market Update June 2023

Welcome to our monthly real estate market update for Durham Region! As we dive into the numbers and trends of June 2023, we'll provide you with valuable insights and analysis to help you navigate the dynamic housing market in this vibrant region. Whether you're a potential buyer, seller, or investor, understanding the current market conditions can make a significant difference in your real estate decisions. Curious about how much your neighbourhood's homes sold for? Let's jump in and explore what June had in store for Durham Region!

Overall Market Performance: With a significant number of properties sold and an impressive average home price, Durham Region continues to be an attractive destination for homebuyers and investors alike. Let's jump into…

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Durham Region Market Update May 2023

Welcome to our monthly real estate market update for Durham Region! As we delve into the numbers and trends of May 2023, we'll provide you with valuable insights and analysis to help you navigate the dynamic housing market in this vibrant region. Whether you're a potential buyer, seller, or investor, understanding the current market conditions can make a significant difference in your real estate decisions. Curious about how much your neighbourhood's homes sold for? Let's dive in and explore what May had in store for Durham Region!

Overall Market Performance: The real estate market in Durham Region continued to showcase its strength and resilience in May 2023. Despite some ongoing challenges, such as limited housing supply, the region remained…

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Early Predictions for the 2023 Ontario Real Estate Market

Ontario’s real estate market has historically been very strong, with housing prices increasing steadily over the years. As likely an echo of the pandemic, 2022 saw the market reach new heights, in favour of sellers. However, early predictions for the year ahead see different trends—and that could be great news for potential buyers. 

Housing Prices: The Drop

Although it is still quite early, Durham Region housing prices are expected to drop. Coming off another great increase last year, this is great news for buyers—especially young people trying to purchase their first home. 

But how much are prices expected to go down? If you’re expecting a large decrease, well unfortunately things don’t seem to be there just yet! While 2022 saw average home…

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Don't Get Caught Off Guard With Closing Costs

One of the biggest mistakes that first-time home buyers make is failing to budget for closing costs. In fact, even experienced home buyers can overlook expenses related to the sale of a home that go above and beyond the purchase price. Both buyers and sellers are required to pay closing costs, so it is important to know what to expect before entering into a home sale.

What Are Closing Costs?

Closing costs are upfront expenses that you must pay when finalizing a home purchase. They typically cover legal and administrative costs and are separate from your down payment and mortgage fees. 

Closing costs in Canada can be anywhere from 1.5% to 4% of the purchase price of the home. So if your new home costs $400,000, the closing costs could be…

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5 Reasons Durham Region Bungalows Are So Popular Right Now

If you’re starting your search for your dream home, conducting market research is an important first step. As you browse through both active and sold listings, you might notice the large number of bungalows in the Durham Region area.

Regardless of whether you’ve considered a bungalow for yourself, there’s a reason for their ever-growing popularity. Let’s look at the top reasons why a Durham Region bungalow is so in-demand.

Versatile Floor Plan

A bungalow is characterized by having a single storey. But what does that mean for the layout of the home? The short answer is this: bungalows tend to have open floor plans, and for many, this makes a space infinitely more versatile. You'll usually find this popular feature in contemporary homes because…

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Should I Buy a Home While I'm in University or College?

Long hours of studying before an exam. The first difficult presentation in a course. Cheering on the athletes at the big game. For university and college students, this is what post-secondary education is all about—and they’re said to be some of the best years of your life.

But what about the future? Is it a good idea to purchase a home while still getting a certification or degree? It’s not an easy answer. Let’s go over the things you should consider. 

Durham Region Housing Market Analysis

One of the greatest considerations you should take into account before purchasing a home is the real estate market in your ideal area. But here are some of the facts: Durham Region, like the rest of the GTA, has seen housing prices increase over the past…

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Everything You Need to Know About Ontario Home Insurance

You’re preparing to purchase a home in Ontario. Congratulations on such a huge step! Because this is likely one of the largest purchases you’ll ever make, you’ll want to be sure that you’re safe and protected. That’s where home insurance comes in!

Home insurance helps protect you in case of an accident—and there are many different policies you can choose from. We’ll help answer a few of your most frequently asked questions.

The Basics of Ontario Home Insurance

Although no, you’re not required to have home insurance by law, it is definitely recommended (and a lot of the time absolutely necessary!) that you purchase home insurance for your property. The fact is, mortgage lenders and banks usually prevent you from completing the purchase on your…

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5 Things to Consider When Buying a Luxury Property in the Durham Region

Durham Region, with its multitude of parks and trails and proximity to Toronto, is a great place to settle down. If you’re interested in purchasing a luxury home in this area, there are a few things you should know before you go ahead and sign on the dotted line!

Take A Tour Before You Buy

Arguably one of the most exciting parts of searching for your new luxury home is going through the images of active listings. But be careful of getting too attached to photos! It’s suggested that you visit the home in-person before making any decisions.

Sometimes, you may notice that the home is not exactly the same as pictured—for better or for worse! Maybe it feels smaller when you walk in… or even larger! Other times, you might become aware of something…

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Questions To Ask When Buying Land In The Durham Region

So you’re considering buying land in the Durham Region. Buying land can truly be a big investment for your future, both if you’re planning on making use of the land yourself or purely for investment’s sake. 

However, purchasing land is a big decision. As knowing the area in which you’d like to buy, why you want to purchase there, and knowing exactly what you want out of the purchase are essential. 

As with buying a home, there are many questions you should ask yourself and be comfortable with before sealing the deal on potentially acres of land. 

We’ve come up with just a few key questions that will be crucial in your Durham Region land buying process, which will make the experience much more seamless. 

Investment Or Living Opportunity?

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Community Spotlight: Oshawa

So you’re looking at a beautiful city nestled right on the white sandy shores of the scenic Lake Ontario, known as the eastern anchor of the Greater Toronto Area, Oshawa is a true beauty of southern Ontario. 

Oshawa is no longer just a bedroom community, with economic prosperity leading to a boom in the real estate market and a rise in popularity of families and young professionals moving to the area, Oshawa has much to offer. 

A beautiful waterfront city that’s only a short drive away from the more fast-paced Toronto, Oshawa is a lively city with a great entertainment industry as well as one of a kind views. 

With plenty of job opportunities and more affordable real estate than the neighbouring Toronto market, it’s no wonder why people are…

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