BuyingHomeownership April 3, 2023

Canada Foreign Home Buyers Policy and How it Affects Foreign Buyers

As a real estate team that values transparency, we want to provide you with important information about the foreign homebuyer’s policy that is now in place in Canada as of January 1, 2023. This ban aims to make homes more affordable for Canadian residents by limiting foreign investment. This ban applies to residential properties such as detached homes, semi-detached houses, rowhouse units, residential condominium units, and similar premises in census metropolitan areas or core areas. Vacant land zoned for residential or mixed-use and purchasing it for the purpose of development is unaffected.


Please remember that recreational properties like cottages, lake houses, and residential properties in municipalities with a core population of less than 10,000 are not subject to the ban. Additionally, non-Canadians can still purchase more significant buildings with multiple units.


This ban addresses the housing affordability crisis in Canada, where the average house cost is 67% more than the average Canadian household can afford. This ban is expected to create new opportunities for Canadians to purchase residential properties by opening up the supply.


However, refugee claimants, international students who meet specific criteria, and non-Canadians with a spouse or common-law partner who is a Canadian citizen, permanent resident, person registered under the Indian Act, or refugee are exempt from the ban.


Those who violate the ban can face penalties of up to $10,000 and may be required to sell the property they purchased. Anyone who knowingly assists a non-Canadian with their purchase may also face fines.


As your trusted real estate team, we are committed to informing you about the latest Canadian housing market developments. Please don’t hesitate to ask any questions or concerns about this issue.

BuyingLifestyle March 10, 2023

Saskatoon’s Most Popular Neighbourhoods


Looking for the most popular neighborhoods in Saskatoon? We’re happy to share our knowledge and experience to help you find the perfect place to call home!




First up, we have Nutana. This charming and historic neighborhood boasts beautiful tree-lined streets, a mix of character homes and newer builds, and a vibrant community feel. With Broadway Avenue at its core, Nutana offers a variety of shops, restaurants, and cafes for residents to enjoy.




If you’re looking for a trendy and vibrant area, look no further than Riversdale. This neighborhood has undergone significant revitalization in recent years, and now offers a thriving arts scene, including the Remai Modern art museum and a variety of galleries and boutiques. And with its wide range of restaurants, bars, and cafes, Riversdale is the perfect place for foodies and night owls alike.




For those looking for the hustle and bustle of a commercial district, downtown has it all. With a variety of shops, restaurants, and outdoor activities along the Meewasin Valley Trail, there’s always something to do in this lively neighborhood.




If you prefer newer amenities, you may want to consider Stonebridge. Located in the south end of Saskatoon, this modern neighborhood offers a large shopping complex, movie theater, and a variety of parks and recreational facilities for residents to enjoy.


University Heights


Finally, for students and young professionals, University Heights is an excellent choice. Located adjacent to the University of Saskatchewan, this neighborhood offers a variety of housing options, from apartments to townhouses and single-family homes. Plus, with easy access to the university’s facilities and amenities, University Heights is the perfect place to live and learn.


No matter your preferences, our team of realtors can help you find the perfect neighborhood in Saskatoon to suit your lifestyle and budget.
So why wait? Contact us today and let’s get started!


Buying February 25, 2023

10 Things to Watch Out for When Looking at Homes



A walk-through of a potential home you might purchase it is crucial to look at it from an objective point of view. Look over the house in detail and jot down any potential outstanding issues. Here are a few things to watch out for when looking at homes.


Check the Floors

Floors can tell a lot about a home’s structure and plumbing. Look for sagging and unusual dipping near bathrooms and everywhere else in the house. If there are warps in the floors near bathrooms, it could be a telltale sign that some gnarly plumbing might be underneath. There could be structural issues if dips are present anywhere else in the home.

Notice Cracks in the Walls and Ceilings

Cracks should be considered and carefully reviewed. Some fine line cracks in drywall are usually nothing to worry about, but larger cracks in a brick wall, for example, cause concern. Larger cracks typically are a sign of movement of the walls and are a serious sign of structural problems. I was house hunting a few years ago. There was a large crack we could put our hand in on the basement ceiling by a post, a red flag went up, and we never put an offer on that home.

Pay Attention to Fresh Paint

Fresh paint is sometimes a good sign. If the entire home has been freshly painted, the homeowners want to refresh the home before new people move in. However, if the house appears like it has never been renovated for a while and there are patches of paint in the cellar or basement, it could be hiding something, such as water damage. If fresh paint is out of place, ask why it was done.

Look for Water in the Basement or Dampness

Take extra time to investigate the basement thoroughly. Look for water damage on the floor and near windows. Dampness or humidity might also be cause for alarm in newer homes. However, if the house is older, it usually comes with the territory.

Test the Windows

Open and close every window in the home to ensure they all work correctly. I wish we had tested the windows in our current home we have lived in for 13 years, because only 2 out of 10 windows open, which makes for an expensive air conditioning bill every year. Take note of the age of the windows or if inexpensive windows were installed. Changing the windows can be costly, and not changing them out leads to a lot of heat loss, increasing your energy bill.

Assess the Roof

Ask when it was replaced last and ask to see the warranty documents. Be wary of older homes with multiple layers of shingles, which can potentially have asbestos. Ask a professional for help to assess the roof if there are any glaring issues.

Note the Trees Outside

Trees are lovely to have dotted around the yard but look closely at them. Look for how close they are to the house, how many are there, and what types they are. Trees like elms not only have a lot of dropped leaves to manage but if they ever need to be trimmed, they must be appropriately remediated to prevent Dutch elm disease. Trees close to the home can have their roots grow and push into the basement walls, leading to many problems. If there are many trees on the property, they also have a high chance of growing into your main plumbing pipes, leading to sewer backup and many other issues. Trees can also fall during heavy storms and damage your home.

Look at the Plumbing and Electrical

Electrical and plumbing are hidden. However, there should be some exposed pipes and wires in the mechanical room to help you determine the age. Look at the electrical panel and ask if the homeowner experiences electrical shorts. Be wary if the electrical system hasn’t been replaced for a few decades.

Plumbing is a lot harder to tell if there are any issues. Hire a professional to walk through the home if anything is amiss. There are home water testing kits to test the water to ensure its lead-free or if anything else is in it.

Dig into the History 

Find out how long the previous owner had that home and why they are selling it. A flipped home might be hastily finished, possibly leading to oversights in the future. 

If the owner is present during the viewing, ask them questions about their home. Ask about repairs and who they were done by. When were the furnace and water heater repaired or installed, and are they owned or rented? Ask about all warranties on the repairs and if any are still valid.

After the Walk-Through, Follow-up

Check on permits and violations. If you are ready to put in an offer, work on investigating any open violations or permit issues the home might have. Also, check to see if there are any neighbour complaints against the property or homeowner. This could be a sign of problems with house repairs or sensitive, problematic neighbours. 

Sometimes no permits are pulled for extensions or work done on the home. Be sure to ask the sellers if all the permits are in order, if the renovations look shoddy, follow up with the permit office.


When looking at homes, these few things to watch out for will help you in your house-hunting journey. If you are unsure after finding problems with the house, follow up with the homeowner or professionals to gain more insight.

Contact your local real estate expert today to let them guide you through the home-buying process.


Lifestyle January 27, 2023

Saskatoons Best Pasta Restaurants To Try For Valentine’s


Valentine’s Day is a lovely excuse to get together with your partner for a date night or go out and eat some delicious food with friends. Here are a few fantastic locally-owned restaurants specializing in pasta dishes located in downtown Saskatoon.


La Cucina

La Cucina is a locally owned Italian restaurant that uses elevated simple ingredients. It is located in the heart of downtown. The atmosphere is modern and romantic. The food is delicious, and the servers are super friendly.

Their Valentine’s Special Set Menu is available on Saturday, Feb 11th and Tuesday, Feb 14th—priced at $125.00 a person. See menu below.




Primal is another locally-owned pasta restaurant. Pasta is handmade with heritage grains and featuring meat forward dishes made with ingredients from locally owned farms—located on 20th street near downtown. The quaint and cozy atmosphere is sure to draw anyone in. Book into this place quickly because the tables fill up fast. The servers know the menu front to back and can help you choose something perfect. The food is fantastic, and I have always had a great experience.

Their Valentine’s Menu is $80.00 a person. See menu below.



Little Grouse on the Prairie

Little Grouse on the Prairie focuses on Italian fusion cuisine and is locally owned. They pride themselves on farm-to-table, locally sourced ingredients. Located downtown on a quiet street, away from the bustle. They have a uniquely classic atmosphere with large windows for people to watch. Their food is exceptional, and I always leave feeling fulfilled. 

Their Valentine’s Menu is $95.00 a person. See menu below:



If you are interested in any of these great choices. I recommend booking a table as soon as possible. If you are unable to make it for Valentine’s supper, enjoy fantastic food anytime at any of these restaurants.

Contact your local REALTOR® if you want to move closer to any of these great places!


BuyingHomeownership January 20, 2023

Townhouses: Pros and Cons


The choice between a townhouse or a detached home can be confusing. Here are a few pros and cons of purchasing a townhouse and if it’s the right choice for you!

What is a Townhouse?

A townhouse is when one or more walls are shared with your neighbour but are independently owned dwellings. The units are well known for ease of living, featuring shared outside maintenance costs such as lawn care and snow removal.

What’s Better: Buying a Townhouse or a Detached Home?

Compared to detached homes, townhouses can offer a more modern look for a better price, and outside maintenance costs are pooled together with other residents, keeping the homes well maintained. Townhouses are typically built in higher-density populations, making them closer to more valuable amenities.

Whereas, in a single-family home, all the maintenance falls on the owner—which can be daunting. The detached house’s location has more impact on the cost, even if it is an older home that needs many renovations.

It is up to you which option you choose and what is best for you and your family. Ensure you also review the rules and regulations of the townhouse complex/corporation. You might discover extra condo fees, a cap on the number of inhabitants in one townhouse or pet restrictions.

How Are Townhouses Set up?

A townhouse can come in three set-ups. 

1) A land trustee: only land around the unit is common ground with other owners in the complex. The owner is responsible for the unit.

2) Independent ownership: there are commonly shared property elements between the owners, like walls and backyards.


3) Registered condominium corporation: The property and the building are shared responsibilities of every owner and usually come with extra condo fees. 

What Features Should You Look for in a Townhouse?

The biggest perk of purchasing a townhouse is “maintenance-free living.” Ask about the townhouse agreement and any rules and regulations that it has to make sure it fits your needs as a buyer. Also, consider if the townhouse is within your budget and in your desired neighbourhood. Even if the townhouse is a brand new build, always consider getting a home inspector to verify it’s safe to purchase.

Is Buying a Townhouse a Good Investment?

Commonly, yes! Buying a townhouse is a good investment based on resale value. They hold up better value than their apartment condo counterparts. They could also be rented out reasonably quickly for extra income, with no yard maintenance required on your part. Real estate is a considerable investment, and hiring an experienced agent is essential in purchasing a property.

Tips for Purchasing a Townhouse.

Here are a few additional tips that don’t fit in with the above categories:

  • Look at many options of townhouses in the areas you desire. Ask your real estate professional about the differences between the ones you view and if a townhouse or detached home is right for you and your lifestyle.
  • If you are buying into a condo corporation, ensure that the reserve fund is sufficient for long-term planning. Ask for a copy of the most recent meeting minutes to gain insight into the current property maintenance, plus any additional information.

Should I Buy a Townhouse?

It depends! Buying any property is a lifelong investment, so choosing the right one can be difficult. Weigh the pros and cons of each unit you see and decide if it’s the right choice for you! Work with a trusted real estate agent to provide you with personalized advice.


Selling January 13, 2023

9 Projects to Do Before Selling Your Home


Selling your home can be stressful. However, doing these nine projects before putting your home up for sale could sell your home faster and for a greater price. 


Apply a Fresh Coat of Paint


A fresh coat of paint makes your home shine and smell brand new. Paint the whole home with neutral colours to get buyers to see the home’s potential. 

If you have lived in your home for 10+ years, there’s a good chance the paint is dingy, has marks on it and needs a good sprucing up. You may overlook paint peeling in your house daily, but buyers and real estate agents won’t.

Accent walls should be repainted to match the rest of the walls.


Wash the Windows


Cleaning your windows will allow all the natural light you have to flood into the home. Window cleaning is one of those things we seldom do as homeowners. I have never washed the windows on my house so they would need a good deep clean if I were selling!

Think about hiring a professional to clean your windows and exterior before putting your home on the market.


Do a Deep Clean


Clean your home from top to bottom before showing your home from the ceiling fan blades to the picture frames, wall and baseboards. Show off the true potential of your home by cleaning all surfaces thoroughly. Remember to clean the floors under large appliances, like the fridge and stove.




Decluttering is a great place to start when thinking about selling your home. Remove personal items, family pictures and anything that makes the room feel smaller. Thinning out some furniture and clearing off table tops and counters will make the house feel more significant to buyers. 

Also, remember that not everyone has pets, so remove any trace of your pet and the clutter.


Get Noticed by Updating the Curb Appeal


Landscaping gives the buyers the first impression of what they will find inside the home they are viewing. Your local garden center can help you decide the best way to get the most bang for your buck.

Simple changes such as reseeding the patchy lawn, adding new mulch around trees and adding colourful flowers boost your curb appeal.


Address Pests


Pests can inhabit your home without notice. However, if pests are noticeably present, get pest control to remove them from your home. Cleaning up the mess and initiating the removal of pests is a good place to start.


Upgrade Your Cabinets


Homeowners spend a lot of time in the kitchen, and it is the most viewed photo in the listing. Refreshing cabinets can greatly impact the sale of your home—either repaint or stain the existing cupboards. Replace the doors or drawer facades, then change the hardware to modern knobs and handles. Fix faulty drawers and doors so they all work correctly. If all those things are out of budget, giving the cupboards a good deep clean inside and out will work wonders too! 


Add a Backsplash


Another excellent way to update your kitchen is to change out the backsplash. Upgrading your backsplash is a cost-effective way to boost your kitchen’s appeal. 

Choose a backsplash that complements the existing countertop, floors, cabinetry or all three! The best part about adding a backsplash is it adds a little personality to the space and protects the paint from water damage and splatters while you are cooking. 


These are easy projects that take little time to tackle but are surefire ways to boost your home’s appeal to buyers. Try them out for yourself!


If you want to buy or sell a home, contact your local REALTOR® today! 


Lifestyle January 6, 2023

How-to Organize Kitchen Cabinets


If your kitchen is anything like mine, the cupboards are always in disarray, and you have about three bottles of cumin and two bottles of opened soy sauce. We all could use a little organization when it comes to our kitchen. Here are a few handy ideas to get your kitchen organized.


Start with a Clean Slate

Take out everything in your cabinets and start fresh. Hear me out. Taking everything out might seem like a pain, but you can also clean each cabinet surface thoroughly before putting it all back in. Doing so will also help you visualize how many things you keep hoarding in your kitchen and allow you to group similar items.

Declutter Kitchen Cabinets

  • Trash all items that are expired. You will be surprised by the number of forgotten items that linger in the back of cupboards. Donate all the things still in good condition that will go unused.
  • Get rid of items you can’t remember opening or that are broken or damaged. 
  • Mugs, this is the item in my cupboards I have too many of, but can’t seem to part with them. Please take my advice and purge your mug collection. Keep your favourites and a couple for the potential company but donate or regift the rest!

Plan the Layout

  • Decide what items you use most frequently and store the less used items out of the way. Then choose what things can go in what areas, and put them near the appropriate places, such as spices and oil near the stove, tea and coffee near the pots, and dishes near the sink and dishwasher.
  • Small appliances and lesser-used items like platters can be stored on out-of-way shelves.
  • Kids and pets will benefit from ideal placements, like kids’ snacks in a lower cupboard so they can easily reach themselves. 

Add Organizers

Once everything is removed from the shelves, begin assessing what sort of containers are needed to store things more efficiently. 

  • Turntables are great for bottles and condiments—group them, such as oils, dressings, and sauces.
  • Pan & Lid organizers are fantastic. I have just heard of these. They will neatly store all those random lids, containers and pans you have.
  • Small, shallow bins can easily store sauce packets, bags and small items.
  • Pullout shelves and drawers can give instant access to items towards the back of the cabinets. 
  • Expandable spice racks and shelf rises are ideal for canned goods. They will quickly let you see what you have in your cabinets in a tiered system.


The ultimate organization system is adding labels to items or bins. Doing so will allow everyone to return items exactly where they were—reducing the chance of the cupboards getting disorganized again. Labelling is only for some. Choose this as a step if you think it will work for you.

Keep Ingredients in Packages vs. Transferring to Containers

Transferring products to containers is another tip that might only work for some, but decanting products from their packages will make the kitchen look even more neat and organized. Decanting in clear jars will allow all your products to be seen and the amounts left. If you choose this method, ensure that you add labels with due dates or recipes to the bottom of the jar. 

Keep Kitchen Cabinets Organized

There is no secret to keeping kitchen cabinets organized. No amount of labelling, decanting and cleaning will keep everything organized 100% of the time. Every six months, I suggest going through items and throwing out or donating what isn’t needed. If you have extra time, wipe down the shelves and cupboards while your at it.


Now that you have great ideas for organizing your kitchen, it’s time to put them to good use! My favourite find from creating this blog is the pans and lid organizer—I will purchase one right away! Winter is the ideal time to maintain your home and get organized!

If you need help purchasing a home, contact your local REALTOR® today!


Homeownership December 30, 2022

10 Tasks for Winter Home Maintenance


The winter months are long and arduous, not only for yourself but for your home. Here are a few maintenance tips to do and keep in mind over the colder months.


Change Your Furnace Filters


Ventilation is crucial in winter, as we spend most of our time indoors. In frigid weather, our furnaces work harder than ever, and a clean filter can help it immensely. The filters are easily replaced but often forgotten about.


While considering furnace air circulation, check your kitchen and bathroom exhaust fans to ensure they work correctly and remove moisture from the air. An easy method to check fans is holding a tissue up to it and seeing if it gets pulled into it. If it seems amiss, clean the fan thoroughly or replace it.


Foggy Frost-Covered Windows Means Weeping Windows


If you notice your windows are accumulating condensation or even frost, there could be various reasons. It could be faulty windows, humidity or poor ventilation. Properly investigate windows with these issues because weeping windows can lead to mould and compromise the window’s structure. Purchasing a hydrometer will allow you to check the humidity throughout your home. If the humidity levels are higher in certain areas, buy a dehumidifier. If the humidity is low, invest in a humidifier. Your home’s humidity should be at 40-60%.

A simple fix to try out first is to caulk around windows and doors—remove old cracked caulking and re-apply. Replace the seals and weather stripping around all windows and doors to stop cold drafts from coming in rather than cranking up the heat.


Chimney Inspections


Chimneys should need to be inspected annually, especially if there is a fireplace at the bottom. If you have furnace ventilation out the chimney, it should be through a metal pipe, and fewer issues can arise.

Inspect the chimney for creosote or soot. Both can be serious fire hazards—chimney fires can spread rapidly through your home. Also, make sure there is no damage to the chimney. A block or crack can lead to toxic fumes, such as carbon monoxide, entering your home. Even with a gas fireplace, it is essential to ensure air flow is coming in and out.


Check Your Smoke Alarms and CO Detectors


Speaking of fire hazards, check your smoke detectors often to ensure they are in proper working order. Replace the batteries or unit if needed. Check the CO detectors also. Write a reminder on the first of the month to check all units, as it’s better to be safe than sorry. 


Plug In Safely


This holiday and winter, check all extension cords and power bars to ensure they are in good condition. If they are in bad shape, with exposed cords or tears, don’t tape them. Throw them away. Be wary of overloading your circuits.


Watch Out For Icicles


Icicles and ice dams should not be ignored. They usually form on the edges of your home where it’s slower to melt, preventing the water from draining off your roof. The backup meltwater can find its way into your home walls and basement. If you see an ice dam forming and cannot remove it yourself, look into hiring a professional to assist you. They can look at the eaves and inside your attic, because you need proper airflow and insulation to prevent ice from forming.


Winterize Your Pipes


Canada has extremely cold winter days. These days can wreak havoc on your pipes. When water freezes, it expands, putting pressure on pipes below insulation or through cold zones. The freezing water in the pipes can cause them to burst and flood your home. If your pipes are outside or close to the outside wall, you can wrap them with insulation. Ensure the exterior hose pipes were drained in Autumn. Invest in non-freeze hose bibs that help prevent pipes from bursting. If you plan to travel this winter, keep your furnace set to at least 18 degrees Celcius to keep your pipes warm while you are away. Call a licensed plumber to fix the problem if you end up with frozen pipes.


Clear Driveways and Walkways


Shovelling driveways and walkways is essential to not only yourself driving and walking but also to pedestrians. Apply pet-friendly de-icer if needed. If you aren’t a fan of burning your grass, apply gravel instead. Cracks in your driveway and sidewalks can be a tripping hazard. Removing snow will help expose them. Snow around the bricks of your home should be removed to prevent flaking and spalling.


Travel Smart


Winter and upcoming Holidays mean many of us are going away to families, friends or hot destinations. Be smart about setting up your home when you are away. In addition to keeping the furnace on, also set up light sensors to come on periodically throughout the day, at different time intervals. Install security cameras or smart locks to be notified if someone enters your home. Smart locks also can let people in remotely while you are away. 


Now that you have a good understanding of winter maintenance on your home. You are all set for the winter. There is nothing to do but sit back, relax and get cozy.


Contact your Local REALTOR® to help you find the home of your dreams!


Lifestyle December 16, 2022

My Fave: Jacques Torres Chocolate Chip Cookie Recipe


I found this Jacques Torres cookie recipe years ago, and I try to make them every Christmas. Not only is it an all-time favourite cookie of mine, I also have family and friends request that I make them. 


They are soft, chewy and delicious—a real show-stopper. They take longer to make than standard cookies, but they are worth the fuss.




Large Bowl


Stand Mixer

Baking Sheet 

Parchment Paper

Cookie Scoop (if you have one)






  • 2 cups minus 2 tablespoons (8 ½ ounces) cake flour
  • 1 2/3 cups bread flour
  • 1 1/4 teaspoons baking soda
  • 1 1/2 teaspoons baking powder
  • 1 1/4 cups butter, room temperature (I used salted)
  • 1 1/4 cups light brown sugar
  • 1 cup plus 2 tablespoons granulated sugar
  • 2 large eggs
  • 2 teaspoons pure vanilla extract
  • 1 ¼ pounds chopped dark or semi-sweet chocolate chunks or disks
  • flaked sea salt to sprinkle




  1. In a large bowl, sift together (or whisk) the cake flour, bread flour, baking soda, and baking powder. Set aside.
  2. In the bowl of your stand mixer fitted with the paddle attachment mix the butter, brown sugar, and granulated sugar together for 5 minutes, until light and fluffy. Add in the eggs one at a time until mixed, and then vanilla. Continue mixing for an additional minute, scraping the sides as necessary.
  3. Turn the mixer to low and add the flour mixture until just combined. Fold in the chocolate until evenly incorporated. Cover and chill dough for 24-72 hours.
  4. When ready to bake, preheat the oven to 350°F. Line a baking sheet with parchment paper.
  5. Allow the chilled dough to sit at room temperature for 20-30 minutes before baking to soften slightly. Scoop out 3.5 ounces of dough for each cookie using a large cookie scoop—approximately 1/4 cup. Place mounds onto your baking sheet, spacing them 3- inches apart.
  6. Bake cookies for 15-18 minutes until the edges are golden. Turn your baking sheet 180- degrees once, halfway through baking.
  7. Remove from the oven and immediately sprinkle with sea salt. Allow the cookies to cool on the baking sheet for 5 minutes before transferring them to a wire rack to cool completely.




  • Instead of chilling the dough in a large bowl, you can scoop and measure it right away and chill it in prepared mounds on a large baking sheet until ready to bake. Baking chilled dough produces a slightly thicker cookie than room-temperature dough.


  • Store airtight for up to 3 days. Or put them in an airtight container and store them in the freezer.



Serving Size: 1 Cookie Calories: 222 Sugar: 9.6 g Sodium: 91.4 mg Fat: 12.2 g Carbohydrates: 25.7 g Protein: 2.7 g Cholesterol: 49.1 mg


I hope you enjoy these cookies as much as I have over the past ten years! They melt in your mouth once baked; eating the cookie dough is equally delicious!


If you need a larger kitchen to make these cookies in, contact your Local REALTOR® today!

Buying December 9, 2022

5 Ways to Save for Your Down Payment


Suppose you are looking to purchase a home soon and need to save up for a downpayment. Here are a few helpful ways to get started and set some goals to make it happen.

How Much Will You Need For A Down Payment?

The short answer is it depends.

There is a minimum contribution of a 5% down payment to purchase a home in Canada if it’s your primary residence.

The exact amount will depend on the listing price. Be aware that this will be one of many upfront home-purchasing expenses. There is also approximately 1.5% more needed to cover closing costs and legal fees.

The higher the cost of the home, the more of a down payment you will need. For example, on an $800,000 home, you will need 6.5% of the purchase price or $52,000 down. If you are looking for a home over $1,000,000, a minimum of 20% down is required, or $200,000.

Purchasing a home that is $999,999 vs. a $1,000,000 home, the difference is significant due to the down payment required by lenders. Speak to an experienced local REALTOR® to find out more.

Ways to Save For A Down Payment

Saving for a down payment might seem incredibly hard, but following these steps could alleviate some of the mystery.

Establish a Savings Goal

Before you start saving, it is essential to know what price range of home you are shopping for and the down payment that is required to do so. Knowing when you want to buy and the percentage you plan to put down upfront will significantly change the plan of putting money away. After figuring out these things, you can decide how much you will need to put away each month to reach your goal by a specific date.

Cut Back on Expenses

The easiest way to start saving is to look at your day-to-day expenses—and see what you can cut out and still live comfortably. Review your last three months of spending. You will often be surprised by how much money you have spent on unnecessary things, like eating out, coffee and subscriptions, to name a few. A coffee here or there might not seem like a big deal, but small purchases add up quickly.

Automate Your Savings

Once you have decided on a set amount of money to save every month, set up a recurring transfer of that amount from your checking account to a high-interest savings account every time you get paid. The savings account should be left alone until needed, so make sure you can live off the amount left per paycheck.

Plan to Save Your Windfalls

Plan to save any extra money you get throughout the year, whether a work bonus or income tax return. Instead of spending the extra cash frivolously, add it to your savings account immediately! It will help boost your savings account to reach that down payment goal faster. 

Borrow from Your RRSP

If you have RRSPs, the federal government will let you borrow money from it if you are a first-time home buyer with no penalties when you withdraw. However, you must pay the amount borrowed back within 15 years, and the maximum withdrawal is up to $35,000. 


This short list includes a few hints and tricks to get you started saving for a house. There are other ways to acquire extra money, such as an extra side hustle or if you are lucky enough to receive a monetary gift from a close family member.

If you have your down payment ready, contact your Local REALTOR® today!