MARKET UPDATE
BANK OF CANADA CUTS BENCHMARK
INTEREST RATE BY 25 BASIS POINTS TO 4.75%
The Bank of Canada cut its benchmark interest rate by 25 basis points on June 5th, a decision that marked the first time its key rate has fallen since the beginning of the pandemic. The central bank said in its announcement that it was lowering its trendsetting interest rate, which leads variable mortgage rates, to 4.75% amid encouraging signs on the inflation front and mounting evidence of an economic cool down. Attention will now focus on the Bank’s intentions for the rest of the year and, specifically, how many times and how much it plans on lowering rates further. In that regard, Bank of Canada Governor Tiff Macklem signaled that more cuts are coming but hedged on when they might happen. The central bank is scheduled to meet four more times before the end of 2024, with its next decision to arrive on July 24th.
PUBLISHER
Tim Root VP
Fred Ferri
ART DIRECTORS
Sarah Noble
Vanessa Chong
CONTRIBUTING WRITERS
Julie Achtermeier
Jason Woods
SOCIAL MEDIA MANAGER
Trinty Paton
HILLTOP SETTING WITH BREATHTAKING VIEWS of Dundas Valley. Raised ranch bungalow with wrap-around deck. Approx .35 acres with private backyard & inground pool. Nature trails, schools & amenities nearby.
640 Governors Road, Dundas. $1,121,000 TEXT RBKNZGC
RENOVATED 2 BDRM with 2nd-level primary suite, built-in Murphy bed in 2nd bdrm, spa bath, & bright kitchen with French doors to backyard with hot tub! Possible rear parking. Perfect starter or ideal space for professionals. 42 Burton Street, Hamilton. $524,500 TEXT RBKNZFG UPDATED & ELEGANT
SUNSET TERRACE VIEWS
STUNNING 2 BED, 2 BATH CONDO with views from harbour to escarpment. Insuite laundry, owned parking & locker! Building party rm, exercise rm, & rooftop patio. Near Hess & Locke Village, Farmer's Market, & more! 15 Queen Street South # 2302, Hamilton. $659,900 TEXT RBKPXFS
SOUGHT-AFTER LOCALE
STUNNING BUNGALOW TOWNHOUSE in Ancaster's Landscapes Trails. 1,178 sq ft + finished lower level. Beautifully landscaped backyard. Primary bdrm w/ His & Hers closets & 5 pce ensuite. Close to to all amenities! 8 Carmichael Trail, Ancaster. $919,000 TEXT RBKJGZW
PERFECT URBAN LOCALE
"RESIDENCES AT ACCLAMATION". Bright 2 bed, 2 bath unit. Quartz counters. 2nd pantry closet. Natural gas BBQ outlet - rare condo offering! Building gym & rooftop patio. Steps to GO, restaurants, Harbourfront Park, & more! 181 James Street North # 609, Hamilton. $638,000 TEXT RBKPXFT
CHARMING 2-STOREY SEMIDETACHED HOME with 2 bedrooms, generous living space, and a dream backyard! Located in Hamilton's historic and lively Corktown neighbourhood. 24 Liberty Street, Hamilton. $619,000 TEXT RBKPJYY
COZY & CONVENIENT
SPACIOUS END UNIT BUNGALOW TOWNHOME! Approx 1,249 sq ft with 2 bedrooms, double drive, & double garage. Great location near amenities, parks, & great highway access. #9 - 60 Rice Avenue, Hamilton. $679,900 TEXT RBKHFHJ
2 UNITS AVAILABLE!
CHOOSE A CORNER UNIT OR PENTHOUSE CONDO. Both with 2 bedrooms, 2 FULL baths, insuite laundry, underground parking, & locker. Park City Condos offers geothermal heating, a party room, & access to greenspace. 4040 Upper Middle Road , Burlington. $545,800 & $599,800 TEXT RBKJHQL
RBKPXMP
STUNNING CUSTOM BUILT WATERFRONT PROPERTY IN STONEYCREEK! $4,888,888
4 BRs - 6 Baths - 4727 sq ft - one-of-a-kind waterfront home on private court - designer kitchen - high end appliances - sunroomelevator - 2 lifts in garage - hot tub and swim spa - back up generator - numerous upgrades!
GORGEOUSLY FINISHED END UNIT IN HANNON! $879,900
3 BRs - 2 full & 2 half Baths - 1776 sq ft - open concept - fully upgraded - feature wall - fin'd basement - rear patio - stamped concrete drivegreat location, close to everything!
FAMILY HOME WITH BACKYARD ESCAPE IN EAST HAMILTON! $1,599,900
4 BRs - 2.5 Baths - 2952 sq ft - stunning outdoor space - open concept main floorfireplace wall - chef's kitchen - ample counter and cabinet space - dog wash stationoutdoor fireplace - hot tub - pergola + gazebo.
LOVELY 3-STOREY TOWNHOUSE IN GRIMSBY ON THE LAKE! $799,900
4 BRs - 3.5 Baths - 2nd kitchen in bsmt w/potential for a separate 1 BR unit for additional rental income - ideal location w/easy access to hwys, abundant amenities, charming wineries & more!
GREAT INVESTOR OPPORTUNITY IN THIS EAST HAMILTON HOME! $599,900 3 BRs - 2 Baths - 855 sq ft - great room - eat-in kitchen - feature wall - upated bath - 2 car parkingpatio area - steps from library, pharmacy, restaurants & more! TEXT RBKPXLQ
COMMERCIAL BUILDING IN PRIME EAST HAMILTON LOCATION! $1,589,900
Commercial office space - 2323 sq ft - 2 Baths - Kitchenette - 15 parking spaces - King St. exposure with signage - separate entrance to basement space - front reception and multiple individual office spaces on both levels.
BEAUTIFUL BUNGALOW IN THE LOVELY CRYSTAL BEACH! $649,900 2 BRs - 2 Baths - high ceilingsstunning kitchen - extended cabinetry - SS appliances - rear sliding doorprim BR w/ensuite - attached garage w/inside entry - close to all amenities.
LIGHT FILLED GROUND FLOOR UNIT IN BEAMSVILLE! $529,900
2 BRs - 2 Baths - 860 sq ft - large windows - open living space - ensuite - underground parking - exercise room - party room - roof top deck/gardenvisitor parking - prime location.
E. Martin Mazza*
Nancy Mazza
Cyndi Love**
Emily DeNardis*
Nancy Mungar*
Jennifer Ferreira Ivan Kamladze**
Kate Daters
TEXT RBKJHVM
TEXT RBKHYXK
TEXT RBKFFPD
ANCASTER - $24,900,000
Set amongst a 5.2-acre paradise estate with 1/3-acre pond is a stateof-the-art bungalow mansion with over 26,000 sqft. of luxury living, plus a 5,210 sqft. dream garage with sensational outdoor amenities surrounded by peaceful countryside. www.1272Fiddlers.ca
ANCASTER - $2,949,900
- $3,695,000
Spectacular custom bungalow by Neven Custom Homes, set on 4.1acres only 5-mins to town. Almost 4300 sq ft of luxurious living including a finished walk-up basement, triple garage, and outdoor oasis (heated saltwater pool). Built with superior quality. www.1043Jerseyville.ca
Stunning custom-built luxury home in prestigious Oakhill with exquisite curb appeal on a premium property sprawling 134 ft of frontage. 5 total beds, 6 baths and over 5600 sq ft of living including a basement in-law suite with full kitchen and sauna. www.87Parker.ca ANCASTER - $2,195,000
DUNDAS (DISTRICT LOFTS) - $2,195,000
Luxury 2-bedroom, 2-storey loft style condo with two spa-like baths. Spectacular open living space with 17-ft ceiling and breathtaking view of Dundas Peak. Custom gourmet kitchen. Private entrance and double garage. Radiant in-floor heat. New A/C. www.397King.ca
Custom 4346 sq ft luxury home in prestigious Oakhill. 5 total bedrooms and 4.5 baths. Situated on a mature 75 x 158 ft. property with total privacy and a backyard oasis (heated pool & hot tub). Fully finished basement with bedroom and full bath. www.161Lloyminn.ca
CALEDONIA (27.5-ACRES) - $1,979,000
Peaceful 27.5-acre farm on Grand River w 660-ft of water frontage. Located 15-minutes to Ancaster. Circa 1886 farmhouse custom engineered/rebuilt from ground up and all new mechanics: septic, well, water treatment. Pesticide free. www.1329Highway54.ca
Prime development opportunity: 4.15-acres of industrial land Zoned M3. Prestige Business Park w/ municipal services at the lot line. Located at Tradewind Drive across from Ancaster Business Park. 4-bedroom home on property. CALL FOR DETAILS
- $1,479,500
Spectacular 4-bedroom executive family home offering more than 3300 sqft. above grade with luxury finishes and an entertainer's layout with a finished basement. Situated on a 50 ft. professionally landscaped property close to all amenities. www.95Portsmouth.ca
M10)
$4,375,000 12.5-acres of industrial land zoned M10 in the Airport Employment Growth District. No regulated features impacting future development. Quality backsplit and large workshops offer interim rental opportunity. CALL FOR DETAILS
$1,179,900 Fully renovated 3-bedroom home with 2 full baths. Half-acre (132 x 165 ft.) double lot located less than 1KM from Hamilton Airport. Prime commercial development opportunity offering C6 zoningretail or service based commercial uses. www.9056Airport.ca GREENSVILLE - $975,000
1.1-acre lot on quiet cul-de-sac. Build your dream home amongst custom estates just 10 minutes to downtown Dundas. Approved plans available for a 3,700 sq ft bungaloft. www.21Hauser.ca
- $749,900 Beautiful bungalow on an oversized corner property. Space for a growing family or convenient one-floor living for downsizers. Wonderful curb appeal and brand-new driveway. Open concept, stylish kitchen, updated baths, and finished basement. www.1062DarbyLane.ca
$1,799,000
DREAM HOME IN SOUGHT-AFTER GREENSVILLE!
Stunning 2-storey home, approx 3,500 sq ft of total living space, with 4 spacious bedrooms and 2.5 baths. Meticulously maintained. Minutes from downtown Dundas, Webster and Tews Falls, McMaster Hospital, and Dundas Golf and Country Club. The main oor boasts an expanded dining area, wrap-around porch, o ce, and a fully nished basement. Your forever home awaits!
MLS # H4196453
$999,000
5-LEVEL BACKSPLIT HOME IN STONEY CREEK with 4+1 bedrooms and 2 full baths, 3,300 sq ft of total living space, perfect for large families or multi-generational living. Enjoy a bright family room with a cozy wood replace, a formal living room, and another family room with a replace on the lower level. Set on a deep 48 x 230 ft lot with ample parking. Located near the QEW, shopping, and schools. Create lasting memories here!
MLS # H4198067
$2,299,000
WELCOME TO 55 ELODIA! Nestled in the sought-after West Mountain area near Ancaster, this executive home is located on a cul-de-sac with a large, professionally landscaped lot and fully fenced backyard. Featuring 5+1 bedrooms, 6 bathrooms, and over 5500 SQ FT of living space, updated kitchen with quartz countertops and new stainless-steel appliances, and two primary suites with ensuites. The finished walk-out basement o ers a lower-level FULL IN-LAW suite, for additional living space, and the double-decker patio overlooks a heated inground saltwater pool. This meticulously cared-for property is a rare find! 55 Elodia Court, Hamilton. MLS#H4197026 Text RBKPCFD
WATERFRONT EXECUTIVE HOME On the Kashagawigamog 5- Lake-chain. Completely renovated 3200 SQ FT of luxury living space to enjoy year-round w/ 3 beds, 4 baths + loft space for extra guests. Expansive decks, lush gardens and mature trees on the shores of Grass Lake w/ sandy beach & sunset views. Walking distance to town & all amenities! 1073 Grass Lake Road, Haliburton. MLS#H4198311 Text RBKGFVK
$2,600/MONTH
ensuite & walk in closet. Close to the 403 and all amenities! LIV Communities "Sienna Woods East Townhomes" in Brantford.
MOVE IN READY - 2 TOWNHOMES AVAILABLE Walk out basement, 3 BEDROOMS, 2.5 BATHS, 1,584 SQ FT. Kitchen includes high gloss cabinets, island & upgraded backsplash & counter tops. Open concept floor plan! Primary bedroom w/ 4pc ensuite & walk in closet. Close to the 403 and all amenities! LIV Communities "Sienna Woods East Townhomes" in Brantford. 620 Colborne Street West, Brantford. MLS#H4194738 Text RBKCTHR
620 Colborne Street West, Brantford. MLS#H4194738. Text RBKCTHR
PRESTIGIOUS ANCASTER HOME - MUST SEE IN PERSON! Over 3,000 SQ FT of finished living space with HUGE 200 ft deep ravine lot backing onto Dundas Valley. Enjoy beautiful sunset views from the covered deck - with no rear neighbours! Impeccably maintained, completely renovated top to bottom, spacious main floor o ce & MORE! Too many updates to list! 262 Brookview Court, Ancaster. MLS#H4184859 Text RBJWHLM
$3,500/MONTH
PRESTIGIOUS DYNES NEIGHBOURHOOD This wonderful home is nestled on a spectacular lot with treed privacy backing onto Sweetgrass Park, perfect for families. Close to school, parks, transportation. 3 bdrms, 2 baths, full basement, some hardwood floors, stainless steel appliances. Updated windows. Large lot with fenced backyard, ample parking. 523 Woodview Road, Burlington. MLS#H4199077 Text RBKPXLP
DYNES NEIGHBOURHOOD This wonderful home is nestled on a spectacular lot with treed privacy backing onto Sweetgrass Park, perfect for families. Close to school, parks, transportation. 3 bdrms, 2 baths, full basement, some hardwood floors, stainless steel appliances. Updated windows. Large lot with fenced backyard, ample parking. 523 Woodview Road, Burlington. MLS#H4199077. Text RBKPXLP
4.1 ACRE COUNTRY PARADISE with breathtaking views and a stunning oasis pool. This spectacular bungalow, by Neven Custom Homes, offers almost 4,300 sq ft of luxury living with an oversized triple garage, and a walk-up basement with a 9 ft ceiling and approximately 1,320 sq ft of finished recreation space. Located just 5 minutes to all amenities in Ancaster.
Virtual tour: www.1043jerseyville.ca
87 PARKER AVENUE, ANCASTER $2,949,900
SPECTACULAR CUSTOM HOME in the Oakhill neighbourhood of Ancaster. 4+1 bedrooms, 6 baths, and over 5600 sq ft of luxurious finished space. Exquisite curb appeal with 134 ft. of frontage. Stunning gourmet kitchen with Thermador appliances and 11-ft. waterfall island. Professionally finished lower-level setup as a full in-law with a custom cedar sauna.
Virtual Tour: www.87Parker.ca
7 THINGS TO KNOW
When You Are Looking to Purchase a Cottage or Vacation Home
BY JASON WOODS
PURCHASING A COTTAGE OR VACATION HOME CAN BE AN EXCITING VENTURE, OFFERING A PERFECT GETAWAY FROM THE HUSTLE AND BUSTLE OF CITY LIFE. HOWEVER, IT’S ESSENTIAL TO APPROACH THIS PURCHASE WITH CAREFUL CONSIDERATION AND THOROUGH PLANNING.
HERE ARE SEVEN KEY THINGS TO KNOW BEFORE DIVING INTO CANADA’S COTTAGE OR VACATION HOME MARKET.
UNDERSTANDING THE MARKET
The cottage market can differ significantly from the urban housing market. Location, accessibility, and seasonal demand can influence property prices. Researching the market trends in the specific area you’re interested in is crucial. Pay attention to historical data on property values and consider working with a local real estate agent specializing in cottage properties.
FINANCING YOUR PURCHASE
Securing financing for a vacation home can be more complex than a primary residence. Lenders may require a larger down payment, often around 20-35%, and the interest rates might be slightly higher. Ensure you have a solid financial plan and get pre-approved for a mortgage to streamline the buying process. Consulting with a mortgage broker can help you find the best financing options.
SEASONAL ACCESS AND MAINTENANCE
Many cottages are located in areas with seasonal access, which can impact your ability to visit year-round. Consider how this will affect your usage and maintenance of the property. Some cottages may require specific preparations for winter, such as shutting off water supplies and protecting against harsh weather conditions. Ensure you budget for ongoing maintenance costs and potential seasonal expenses.
ZONING AND REGULATIONS
Each municipality has different zoning bylaws and regulations that can affect your use of the property. Some areas may have restrictions on rental income, building renovations, or the addition of structures such as docks or boathouses. Understanding these regulations before purchasing is essential to avoid surprises and ensure your plans align with local rules.
INSURANCE CONSIDERATIONS
Insuring a vacation home can be more challenging and costly than insuring a primary residence. Cottages are often in remote locations, increasing the risk of damage from natural disasters or delayed emergency response times. Work with an insurance broker to find comprehensive coverage that addresses these unique risks and provides peace of mind.
RENTAL INCOME POTENTIAL
If you plan to rent out your vacation home to offset costs, investigate the rental market in the area. Understand the demand for short-term rentals and the potential income you could generate. Be aware of any municipal regulations regarding short-term rentals and factor in the costs associated with marketing, managing, and maintaining the property for guests.
LONG-TERM INVESTMENT
Consider the cottage or vacation home’s long-term investment potential. While these properties can provide personal enjoyment and potential rental income, they may not appreciate at the same rate as urban properties. Evaluate the property’s long-term value based on its location, condition, and market trends to ensure it aligns with your financial goals.
FINAL THOUGHTS
Purchasing a cottage or vacation home is a significant decision that requires careful consideration and planning. By understanding the market, securing appropriate financing, and considering factors like seasonal access, zoning regulations, insurance, and rental income potential, you can make an informed choice that provides both personal enjoyment and financial stability. Consulting with real estate agents, mortgage brokers, and insurance specialists can provide valuable insights and guidance throughout the process.
MORTGAGE COMING
shores of Lake Ontario and the vineyards of Niagara's Lower Bench Wine Country. Inside you will find a home that has almost been completely redone while still maintaining the history and charm of the original homestead. Text RBKGHKC $1,299,000 BEAUTIFUL GENERATIONAL HOME
Beautiful
$1,645,000
NEW LISTING - WATERFRONT RETREAT
Almost 300 ft of lakefront. Century home offers 4 beds, updated kitchen, stunning water views. PLUS cozy 3 season Bunkie, BONUS art studio overlooking lake, & private boat ramp.
$765,000
NEW LISTING - OPEN CONCEPT RANCH! on large fenced lot. Kitchen w/ Quartz counters, maple cabinets. Additional space for family in bsmnt. Attached 2 car garage w/ heat. 2 storage sheds. Dunnville.
Text RBKGCND
$592,000
NEW PRICE - EXTENSIVELY RENOVATED 2 beds w/ fantastic Lake Erie views. Bright open concept living, custom kitchen w/ island, 3 pc bath, in-suite laundry. Fenced yard, shed, plenty of parking, hot tub. Dunnville.
NEW PRICE - FORMER MUNICIPAL BUILDING Mixed use commercial space, stylish designterrazzo flooring, brick walls. Numerous offices, board rooms, event area and storage. Parking, accessibility, & more. Dunnville. $875,000 Text RBKBLMJ
NEW LISTING - QUIET WATERFRONT 3 season cottage, relaxing sunroom, open concept living, floor to ceiling stone fireplace, knotty pine kitchen, 3 bedrooms, and newer windows. Dunnville. $590,000 Text RBKPXGG
Text RBKPXGR
$539,000
NEW LISTING - IDEAL SEMI-DETACHED HOME 3 beds, 1.5 baths - short stroll from downtown. Spacious, bright, and well cared for! Walk to downtown necessities and riverfront park. Large, oak country kitchen. Dunnville.
Text RBJRGWJ
NEW PRICE - GEORGIAN STYLE HOME Well kept all brick 4 bed home on large lot. Main floor family rm, oak hardwood floors, gumwood trim, woodburning fireplace. Detached 2-car garage w/loft, paved driveway & park-like yard. Dunnville. $720,000
RBHYLGZ
GORGEOUS PRIVATE LAKEFRONT 2020
steel break wall. Large bedrooms, huge living room, fieldstone fireplace with NG insert, separate dining room, 9' ceilings on main, large waterfront deck. Wainfleet.
NEW LISTING - LAKE ERIE PARADISE Well kept 4 season home boasts large kitchen, patio walk out to south facing deck. Open concept living, finished lower level w/ bed & rec rm w/ gas fireplace. Dunnville.
$560,000
NEW LISTING - SEMI IN QUIET COURT
Open concept living, tons of natural light. Large kitchen w/ oak cabinets. Unspoiled bsmnt w/ large windows. Back up generator. Attached garage. Dunnville.
NEW PRICE - COMMERCIAL LOT 89.93' x 75.98' zoned Commercial Downtown. Contact listing agent for list of uses as per Haldimand County. Property has been recently severed. Convenient location in heart of Dunnville.
COZY COUNTRY HOME 2 bed bungalow offers galley style kitchen, separate dining w/sliding doors to rear deck, laundry/mud room. Nicely landscaped, huge back yard with 2 sheds. Minutes to town. Dunnville. $485,000 Text RBKNWMR