MARKET UPDATE
HOW MUCH DIVERGENCE IS POSSIBLE BETWEEN CANADIAN AND U.S. INTEREST RATES?
Now that the Bank of Canada has begun cutting its benchmark interest rate after 4 long years of rate increases, the question is how much further can it go without the U.S. Federal Reserve also bringing its own rates down? With the Canadian economy weakening faster than our neighbour to the south, it is possible that the U.S. will stick stubbornly to its interest rate policy of “higher for longer” in its own battle to fight inflation, especially since their recessionary worries are seemingly much less than ours. If the two rates get wildly out of balance, we could end up reigniting inflation as a falling dollar will drive up the cost of imported goods that we rely upon. Bank of Canada Governor Tiff Macklem recently weighed in on this issue with the following comment: “While there are limits to rate divergence, we are not close to that limit”. Those are comforting words although, to be fair, they lack a definitive pronouncement on the issue.
Tim Root VP
Fred Ferri
ART DIRECTORS
Sarah Noble
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CONTRIBUTING WRITERS
Julie Achtermeier
Jason Woods
SOCIAL MEDIA MANAGER
Trinty Paton
LUXURY LIVING At The Residences of Acclamation. 10' ceilings, floor-to-ceiling windows, 14' peninsula, & double-sided gas FP. 29 x 15 ft terrace w/ lake & harbourfront views. 3 parking spots & great building amenities. Walk to all amenities.
181 James Street North - PH6, Hamilton. $999,800 TEXT RBKQLPQ
NATURE AT YOUR DOOR
CUSTOM BUILT raised ranch bungalow offering beautiful vistas of the Dundas Valley Conservation Area, spectacular sunsets, & a neighbouring horse farm. Features large windows & a wrap-around deck to fully embrace its stunning surroundings. 640 Governors Road, Dundas. $1,121,000 TEXT RBKNZGC
FABULOUS GARTH TRAILS
BUNGALOFT END UNIT with 3 beds, 2.5 baths, bright open concept. 2 bdrms have ensuite bath. Main floor laundry. Double garage. Affordable condo fees, internet & TV included. Clubhouse offers pool, tennis, party rooms & MUCH MORE! 64 Gravenhurst Trail, Hamilton. $984,900 TEXT RBKQMRJ
BEAUTIFULLY CUSTOMIZED for comfort & style, stunning 1 + 1 bdrm, 2 bath condo, in the Heart of downtown Hamilton's Arts District. Walk to West Harbour GO. Restaurants, shops, galleries, cafes & entertainment are at your doorstep!
181 James Street North # 609, Hamilton. $638,000 TEXT RBKPXFT
LOVELY ANCASTER LOCALE
THIS BRICK BUNGALOW is situated on a nice 75 x 102 ft lot in this mature Ancaster locale. Steps to the charming village shops, restaurants, Hamilton Golf & Country Club, schools, bus and transit routes. 11 Cameron Drive, Ancaster. $859,000 TEXT RBKQMVP
GORGEOUS PENTHOUSE
FAB PENTHOUSE UNIT at Park City Condos. 10' ceilings, 2 bdrms, 2 FULL baths, spacious balcony, in-suite laundry, parking, & locker. Geothermal tech saves you $$! Party room w/ kitchen. Easy access to hwy & greenspace! 4040 Upper Middle Road # 417, Burlington. $545,800 TEXT RBKQSSB
SUNSET TERRACE VIEWS
STUNNING 2 BED, 2 BATH CONDO with views from harbour to escarpment. Insuite laundry, owned parking & locker! Building party room, exercise room, & rooftop patio. Near Hess & Locke Village, Farmer's Market, & more! 15 Queen Street South # 2302, Hamilton. $640,800 TEXT RBKPXFS
UPDATED & ELEGANT
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. $499,900 TEXT RBKNZFG
16 - 300 REXFORD DRIVE HAMILTON
STUNNING CUSTOM BUILT WATERFRONT PROPERTY IN STONEY CREEK! $4,888,888
4 BRs - 5.5 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 & 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! $1,499,900
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.
DUPLEX POTENTIAL IN CHARMING WELLANDPORT BUNGALOW! $799,900
3+1 BRs - 2 full Baths - 1,377 sq ftfinished basement - surround sound system - gas f/p - S.S. appliances - kitchen update - front & back deck - above ground poolshed - new driveway - lots of updates.
METICULOUS BACKSPLIT ON STONEY CREEK MTN! $969,999
3 BRs - 2 full Baths - 4 lvl backsplit1,194 sq ft - updated top to bottomprimary bdrm w/walk-in closet - large fam rm - finished bsmt - tons of curb appealclose to all amenities - great hwy access.
GREAT INVESTMENT PROPERTY IN NIAGARA FALLS! $650,000
Use as an income generating investment or owner-occupied business/office space2,600 sq ft - 2 suites w/separate entrances - 2 full Baths - plenty of parking - many updates thruout - close to all amenities.
BEAUTIFUL BUNGALOW IN THE LOVELY CRYSTAL BEACH! $635,000
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. TEXT RBKFFPD
LARGE UNIT IN STONEY CREEK BAYLINER CONDO! $539,900
3 BRs - 1.5 Baths - 1,298 sq ft - insuite laundry & storage - ample closet space - ensuite bath - open concept - balcony with water views - car wash area - easy hwy access.
E. Martin Mazza* Nancy Mazza Cyndi Love**
Emily DeNardis*
Nancy Mungar* Jennifer Ferreira Ivan Kamladze**
Kate Daters
Ali Sarnelli*
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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 - $3,695,000
BEAMSVILLE - $3,950,000
Build your dream estate home with 350 ft. of unrivaled Lake Ontario views set on 10.48 acres backing onto a vineyard and winery. This newly severed parcel offers sweeping vistas of Lake Ontario, the Toronto skyline and the majestic Niagara Escarpment. www.4558Lakeside.ca
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
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
ANCASTER - $2,895,000
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
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
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 DUNDAS - $1,549,900
Lucrative 6-unit investment opportunity with excellent cash flow potential. Located in a desirable Dundas location on a quiet cul-de-sac just a short walk to all of the shopping and restaurant amenities in downtown Dundas. Offered with a 4.32% CAP with plenty of upside! CALL FOR DETAILS
MOUNT HOPE - $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
- $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
- $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
Meticulously maintained 3+1 bedroom, 2 bathroom bungalow with a single car garage in one of Ancaster's most prestigious neighbourhoods. Situated on a 80' x 100' lot. Loaded with features incl hardwood flrs, updated kitchen & baths, gas FP, built-ins, stunning gardens & more. $1,299,900
METICULOUSLY MAINTAINED 2.5-STOREY HOME IN SOUTHAM NEIGHBOURHOOD Attractive 1495 sq ft w/ 4 bdrms & 2 baths on mature 150' deep lot. Spacious foyer, open-concept living/ dining area & modern kitchen. 3 bdrms & 4-pc bath on 2nd level. The 3rd level has a primary bdrm w/ dressing room. Private parking. $749,900
SPECTACULAR 3-STOREY UNIT IN WEST BRANT
Beautiful 3 bed, 2.5 bath, Losani built townhome. Spacious foyer with interior garage access, openconcept layout, formal dining & living room, powder room and laundry room on main level. Large primary bedroom with 3-pce ensuite, 2 additional bedrooms & 4-pce bath. $629,900
BEAUTIFUL 1.5 STOREY DETACHED IN HENDERSON Charming 3-bdrm, 2.5-bath home on a mature 68 x 131.5 ft lot. Single vehicle carport & parking for 3+ vehicles. Cozy living room, dining room & kitchen. 2 bdrms & a 4-pc bath on main level. Upper level loft area, primary retreat & 2-pc ensuite. Lower level rec room, 3-pc bath & storage. $749,900
CAREFREE CONDO LIVING ON THE WEST MOUNTAIN Tasteful 2 bed, 2 bath townhome. Open-concept design & kitchen with S/S appliances & breakfast bar seating. Gas FP in living room. Primary retreat w/ 3-pc ensuite. 2nd bdrm with 3-pc bath, main level laundry. 1 car garage w/ inside entry. Unfinished basement. $729,900
LOVELY TOWNHOME LOCATED IN ANCASTER Stunning 3-bdrm, 2.5-bath townhome, built in 2016 by Starward Homes. Open-concept living, dining, & kitchen along with a powder room. Primary bedrm with 3-pce ensuite, two bdrms, 4-pce bath, & loft area. Unspoiled basement. Single garage w/ inside entry. Private rear yard. $699,900
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FANTASTIC RENTAL OPPORTUNITY Executive lower level rental in the Concession neighbourhood of Hamilton Mountain. 1 bdrm and 1 bath, updated kitchen, spacious living room, large 3 pc bath, exclusive laundry access & fresh paint. 1 parking spot. Ideal location, walking distance to restaurants, shops & more. $1,700/MONTH
PERFECT RENTAL OPPORTUNITY Executive bachelor style upper level rental on a mature street in Hamilton's charming Stinson neighbourhood. Circa 1895, this unit offers a kitchen, living room, bdrm and a 3-pce bath. Open-concept floor plan, vaulted ceilings, updated kitchen & bath, shared laundry facilities. $1,200/MONTH
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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 $2,895,000
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
HELP (AND HOPE) FOR FIRST-TIME HOMEBUYERS
By JULIE ACHTERMEIER
The recent federal budget announced several plans to tackle the housing and affordability crisis. Several initiatives were included to assist first-time homebuyers in saving and affording a house in the current market climate. Other plans to build more homes are a longer-term project, but in the short term, savings incentives and borrowing options will take effect on August 1st, 2024.
30-YEAR AMORTIZATION PERIOD
After years of industry experts and economists calling for a longer amortization period, the federal government will finally implement a 30-year mortgage amortization plan for first-time homebuyers. While some argue this should apply to all buyers, it is a step in the right direction for new buyers who would otherwise be unable to afford
mortgage payments on a new home. However, the plan does come with a few caveats. The home must be a new build (condo, semi-detached, detached, low-rise, or townhome). The mortgage must also be insured (priced below $1 million with less than a 20 percent down payment). While it does come with some restrictions, the new 30-year term is designed to allow more flexibility and lower mortgage payments for first-time homebuyers.
FIRST HOME SAVINGS ACCOUNT (FHSA)
The FHSA is a registered savings plan designed to help first-time homebuyers save for their first home. The homebuyer must be 18 years of age and have a social insurance number to open an FHSA account. They can make tax-deductible contributions up to $8,000 annually, with a lifetime maximum of $40,000. The advantage of an FHSA is that it adds another option when saving for a first home. Like an RRSP, unused contributions can be carried over to the following year, and the investor can contribute tax-free for up to 15 years.
If the funds are not used by December 31st of the 15th year or the year you turn 71, the money can be transferred tax-free to an RRSP or RRIF without impacting your contribution room. If the money is withdrawn from the FHSA, it will be taxed the same as if it were an RRSP.
CHANGES TO THE HOME BUYERS’ PLAN (HBP)
The HBP, initially introduced in 1992, allows Canadians to use a portion of their RRSPs, tax-free, towards a down payment on a first home. The federal government is raising the withdrawal limit to address the increase in average house prices nationally and the need for a more significant monetary down payment. The withdrawal limit is currently $35,000 for individuals and $70,000 for couples. The new federal budget has increased this limit to $60,000 for individuals and $120,000 for couples.
The repayment period for this withdrawal has also been extended; currently, it is 15 years, with the
first payment to be made two years after the home purchase (annual repayment equal to 1/15th of the amount withdrawn). With the new changes, as of August 1st, 2024, the first payment would be deferred for five years, three years longer than the current plan.
FIRST-TIME HOME BUYER’S TAX CREDIT (HBTC)
The HBTC allows first-time home buyers a one-time $10,000 nonrefundable tax credit, which equals a tax rebate of up to $1,500. Before 2022, the maximum credit was $5,000 with a rebate of $750. The HBTC was initially introduced in 2009, and this recent change took effect in 2022. While not a substantial sum, the increase can help first-time homeowners with closing costs, furnishings, or decorating their new home.
CANADA SECONDARY SUITE PROGRAM
The Canada Secondary Suite Program (managed by the Canada Mortgage and Housing Corporation (CMHC)) will offer homeowners up to $40,000 in low-interest loans to build a secondary suite (apartment) in their residence. A secondary suite could include converting a basement or garage to a separate apartment or adding an addition to the home. The initiative creates a more affordable option for homeowners to build a self-contained living space for adult children, aging parents, or as a rental unit.
While these initiatives do not entirely address the affordability crisis across Canada, they help support Canadians who dream of owning their own homes.
vltd ceiling, 3pc bth, glass shwr, kitchen w/island, st/stl appls, w-in pantry, private fenced yard, 2 drives, multiple decks, gazebo, $699,000 2011 LAKESHORE RD., DUNNVILLE
Over 2400 sf of pristine living space incl fin'd
pavilion. TEXT RBKGDLH $725,000 2076 MAIN
2970 LAKESHORE RD.,
$768,888
Year-round bungalow, deeded access to Lake Erie, treed park-like property, lake views. Offers •1500 sf incl fin'd basement, 3rd bdrm, 2nd bath. Updated kitchen & baths, livrm, recrm, det'd garage, multiple decks & paved drive. TEXT RBKRBHN
$3,499,000 A GREEN HOME AWARD WINNER
This sprawling 52 acre estate boasts a 4 bedroom 3,587 sq ft custom home that won the 2008 Green Home Award. The property also includes an expansive 10,000+ sq ft indoor arena and a 20 x 40 ft inground pool. Text RBKJHJW
Stunning 3 bed, 3 bath, 1,895 sq ft bungalow built by ''Beldman Homes,'' minutes from the sandy beaches of Lake Erie & the Port Maitland Pier, on a one-acre lot. Move-in ready, with immediate occupancy available. Text RBKPXML $1,124,900 LUXURY MEETS AFFORDABILITY
Close to the 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 $1,275,000 BEAUTIFUL GENERATIONAL HOME
Lovely two-story 4 bdrm, 4 bath home in Grimsby. Built in 1999 and meticulously maintained, this property offers both comfort and convenience
$1,199,000
IS BETTER IN THE COUNTRY!
Beautiful one owner 3 bedroom, 3 bath home plus a detached workshop and garage plus a full two car attached garage. 3 season sunroom. Several abovegrade living rooms, separate dining room and large eatin kitchen, finished basement. Text RBKFFDN
$1,385,000
NEW LISTING - MULTI UNIT INVESTMENT in sought after Long Beach! 5 separate units in 4 buildings (3 yr round units & 2 seasonal). Direct access walkway to world class sand beach! All units updated and well kept by long term owners. Wainfleet.
$857,500 Text RBKQSXH
NEW LISTING - FANTASTIC WEST MOUNTAIN LOCATION offering walk out lower level & in-law suite w/ separate entrance. All brick 4-level back split. 3 bedrms on upper level PLUS additional 3 bedrm in-law suite w/ 2nd kitchen.
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$494,000
NEW PRICE - 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.
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$699,000
CUSTOM BUILT WATERFRONT Gorgeous open concept cottage, propane fireplace, spacious bedrms, loft, 3 pc bath, large bright kitchen. Armour stone & concrete break wall. Detached garage. 180 degree Lake views. Dunnville
NEW LISTING - 1.86 ACRES NEAR LAKE 3+1 bedrm bungalow. Spacious living area, large windows, eatin kitchen. Rec rm w/ bar & gas fireplace in bsmnt, den/office. Large steel frame shop/garage w/ extra high door & rear storage building. Dunnville. $625,000 Text RBKQSXL
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$482,000
NEW PRICE - 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.
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$665,000
NEW PRICE - UPDATED BUNGALOW steps to Lake Erie (w/ deeded ROW). Bright living room w/ vaulted ceiling, spacious kitchen, separate dining. Full basement, attached 1.5 car garage. Generator & solar panel system. Selkirk.
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$475,000
TURN-KEY COTTAGE Beautifully decorated 3 bed cottage overlooking Lake Erie. Private location at end of lane. Large yard, plenty of parking. Large bright kitchen, natural light, fireplace in living room. Lowbanks.
$629,000
NEW LISTING - CLASSIC CHARACTER HOME with contemporary conveniences. Gorgeous 4 bed home offers covered front porch, updated decor, original hardwood floors, bright kitchen. Detached garage. Dunnville.
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$535,000
NEW PRICE - QUIET WATERFRONT 3 season cottage, relaxing sunroom, open concept living, floor to ceiling stone fireplace, knotty pine kitchen, 3 bedrooms, and newer windows. Dunnville.
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$592,000
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.
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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. $1,645,000
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