To find a suitable home inspector, ask your real estate agent for recommendations. They will be able to provide you with a list of quality inspectors, and you will have the freedom to make your own choice. You can also ask your acquaintances for references. Personal recommendations are often valuable.

It is a space where individuals and families live and reside. Residential real estate pertains to properties used for housing purposes. Single-family homes, apartments, condos, and apartment buildings with four units or fewer are considered residential buildings.

The Tax-Free First Home Savings Account (FHSA) is designed to help first-time buyers save for their down payment. The main idea is to help young people become homeowners through the housing frenzy. The FHSA combines a variety of TFSA (tax-free savings account) and RRSP (registered retirement savings plan) benefits. 

In this form of savings, an individual can contribute up to a maximum of $8,000 per year, for a maximum accumulation of $40,000. These contributions are tax-free and the accumulated income is tax-free, so there is nothing to pay back over the years. Withdrawals from the purchase of a property are then also non-taxable.

In Quebec, the law provides that the sale of real estate must guarantee the quality and the right of ownership. These two guarantees constitute the legal warranty.

The guarantee of quality concerns hidden defects. When we talk about hidden defects, we are talking about a “hidden” defect that will undermine the quality of the building. This defect is known by the seller and has been omitted from the Seller’s Declaration (VIS). In addition, the hidden defect existed at the time the purchase but was unknown to the buyer. The hidden defects are not usually not easily noticeable and can be for example mold in the walls, cracks in the foundations, moisture on the ground, water infiltrations, etc. 

The guarantee of the right of ownership (security of title) is related to the vices of title of ownership. This would refer to a situation that would prevent the buyer from exercising his right of ownership. For example, the seller would not have repaid his mortgages in full and would have failed to mention it to the buyer. 

The objective of raising the key interest rate is to curb inflation around the world by reducing borrowing costs and encouraging savings. It is important to understand that at the beginning of the pandemic, the key interest rate was reduced three times to reach 0.25% to stimulate the economy. This rate, reached in March 2020, had never been so low, allowing the economy to recover.

Cleanliness is an important determinant in the success of selling your property. A clean property is more attractive. Every room should be carefully cleaned. You have to be sure to empty the garbage cans, clean the floors, make the beds and dust the furniture. Closets are not to be neglected either, as potential buyers could be curious and open them during visits.

In a property, the kitchen and bathroom are rooms where extra attention should be paid. These pieces are naturally more ‘combed’ because of their utilitarian character and must then be immaculately clean.