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Dearest Friends,
The Government of Canada recently announced the details of Budget 2019, and it includes some exciting new initiatives to expand housing availability and affordability for middle class Canadians.
Here are some of the highlights of Budget 2019:
- Introducing the First-Time Home Buyer Incentive, a shared equity mortgage program aimed at reducing the amount of money first-time buyers must save for a down payment. The program covers 5 or 10 percent of a home purchase price.
- Modernizing the Home Buyers' Plan (HBP), a program that allows Canadians to withdraw up to $35,000 from RRSPs, tax-free, in order to purchase or build a home.
- Budget 2019 also proposes opening the HBP to Canadians experiencing the breakdown of a marriage or common-law partnership, even if they are not first-time buyers.
- The Mortgage Stress Test has reduced the number of home buyers with debt levels that extend well beyond their incomes, which helps stabilize our economy.
- The Rental Construction and Financing Initiative will see a $10 billion investment through 2028, improving the supply of rental properties across Canada.
- In Ottawa, a $70.8 million investment will fund the construction of a 27-storey apartment building. Most of the units will have rents lower than 30% of median household income in the area. More than 10% of units will be accessible, and have projected energy savings of 50%.
- $300 million will go toward the new Housing Supply Challenge, a program that invites municipalities and other stakeholders to propose new ways of breaking down the barriers to creating new housing.
These new programs and investments invite Canadians to take advantage of the opportunity to own a home. We are very excited about what the future holds.
Sincerely
Rachel, Dana, and Chris
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The Importance of Using A Realtor® When Buying Pre-Construction
Home buyers might assume there's no need to work with a Realtor® when purchasing a pre-construction build. After all, the builders and developers have on-site representatives promising to take care of all the paperwork, right?
Not so fast. There are a number of advantages to working with someone who has your best interests in mind. Here's what you need to know if you're thinking about buying a brand-new build.
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1808-111 Champagne Ave.
Enjoy the luxuries of travel and the comforts of home at 1808-111 Champagne Avenue South in Little Italy, Ottawa. This modern condominium offers the amenities you’d expect from a five-star hotel.
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5-120 Briargate Private
Situated close to parks, schools, and shopping, this sunny condo has much to offer. Complex amenities include ample visitor parking, a controlled entrance, and more.
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202-111 Echo Drive
Welcome to the prestigious Canal One Eleven condos. Maintenance free living with million dollar views of the canal. Rooftop tennis court, indoor swimming pool and hot tub, gym, and much more.
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7373 Blue Water Crescent - Greely
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Are home renovations on your to-do list this Spring?
We have sixteen Rona Home & Garden coupons for 3% off your purchase of supplies and fixtures, provided by the Ontario Realtors Care® Foundation. If you would like to receive one of these cards, send us an email at info@rachelhammer.com. Available on a first come, first served basis.
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This Month's Question:
Which of our current listings backs onto a lake?
The first five individuals to respond correctly will win a $10.00 gift card to Starbucks. Thank you and good luck!
Email your answers to: info@rachelhammer.com
(Only one winner per household will be awarded a gift card and all previous winners must wait a minimum of 30 days before being able to win this trivia question)
Last Month's Question and Winners
Which of our current listings has a green powder room?
Answer: 347 Royal Fern Way
Congratulations to:
Lesia G., Richard T., Chris B., Rebecca R., and Ann F. who correctly answered last month and won a $10.00 gift card to Starbucks.
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