Hamilton/Burlington Real Estate News - MAR 2024
HAMILTON/BURLINGTON REAL ESTATE UPDATE
Please don't hesitate to reach out for detailed stats that are specific to your neighbourhood, or even if you're just curious about what the house down the street sold for – it'd be great to hear from you!
CHARITY OF HOPE 2024! "SOLD OUT"
Thanks To All Who Supported!!
Everlast Windows & Doors, Nelson Insulation, Garofalo & Assoc., Maria DeRosa-Mortgage to Name a few!
Charity of Hope
We are pleased to announce our 2024 Charity Of Hope Gala and we invite you to join us for a special evening along with 8x JUNO award winning band , Colin James Blue Trio with 20 studio albums, including Open Road, as we come together to support underprivileged children and youth in our communities across Canada.
Join us Friday, March 22, 2024, at Carmen’s Banquet Center for “Open Road, Night of Hope” fundraising gala!
- Dinner
- Dancing
- Live Entertainment featuring Colin James Blues Trio
- Raffles
HAMILTON'S EASTER EGG HUNT FOR DOGS
Enjoy some outdoor family fun this Easter with your furry friend!
If you’re looking for something fun to do with your four-legged friend over the Easter long weekend, check out the Easter Egg Hunt for Dogs hosted by National Service Dogs.
Thousands of colourful eggs will be filled with prize tokens as well as a treat for your dog to sniff out so that they can collect as many eggs as possible to retrieve prizes.
The Hamilton Easter Egg Hunt for Dogs is held on Good Friday which lands on March 29th. There’s a $25 fee for each family to participate and if you sign up online, you can start gaining pledges today!
The event takes place at Joe Sam’s Leisure Park which is located at 752 Centre Road in Hamilton. Registration opens at 10 a.m. and the hunt gets underway at 11 a.m.
Over the last 25 years, NSD has graduated over 555 Certified Service Dog Teams and has started three new programs: Certified Service Dogs for PTSD, Canine Assisted Intervention and Companion Dog Services.
Come out for a fun-filled day with lots of treats, the chance to win some fantastic prizes and an opportunity to help support NSD’s award-winning Certified Service Dog programs!
BANK OF CANADA RATE UPDATE
The Bank of Canada continues to hold its policy rate at 5% for the fifth time in a row.
In a scheduled announcement on March 6, 2024, the Bank of Canada decided to maintain its target for the overnight lending rate at 5%. This was its fifth consecutive hold after two interest rate hikes last summer.
With the spring season traditionally seeing increased housing market activity, the Bank of Canada was wary of cutting rates, fearing it could exacerbate housing affordability issues by stimulating demand further.
High interest rates have already put a lot of pressure on households, contributing to a cooling economy as it seeks to align supply and demand.
However, inflation is nearing the Bank's 2% target, with a notable impact from shelter costs, including mortgage interest and rent prices. While a rate cut could alleviate these expenses, it might also risk overheating the housing market.
Real estate professionals and potential buyers are closely watching for any rate changes, indicating that a decrease could lead to a surge in market activity and prices.
The Bank of Canada’s next scheduled interest rate announcement will be on April 10th.
THE COLLEGE CRIB ADVANTAGE
Buying a college crib for your kid could be a great investment opportunity!
It’s an exciting time as your child prepares to pack up and set out on their college journey, but this new chapter also comes with its fair share of financial obligations.
If your child is spreading their wings and leaving the nest to study away from home, accommodation will be a significant expense but this financial challenge can present a unique real estate investment opportunity!
By purchasing a property for your child to live in while attending school, you're not just securing a roof over their head; you're opening the door to a financial future with benefits that will extend well beyond graduation.
Here are just a few points to consider when weighing the options of whether or not to buy a crib for your college-bound kid:
Smart Moves
Instead of sinking endless amounts of cash into rent or dorm fees, your monthly payments will go towards building your net worth.
Cover the Costs
Use the rent collected from roommates to help cover the mortgage payments while your child pitches in to take care of general property maintenance.
Life Lessons
Managing a property can teach your kids valuable life skills that will help prepare them for future management situations as well as homeownership.
Expert Advice
Partner with an experienced real estate agent who’s familiar with the area so that they can help you get acquainted with the local market.
Ownership Options
Discuss ownership options with your financial planner and mortgage advisor to determine whether or not it’s best to list your child on the property's title.
Planning Ahead
Research local vacancy rates and zoning laws to make sure your investment will continue to pay off once your child hangs up their cap and gown.
Investing in student housing by purchasing a property for your child can be a strategic investment opportunity that will provide them with a sense of independence and financial savvy as they transition into adulthood.
If you'd like to explore this opportunity but aren’t sure where to start, I can point you in the right direction by referring you to an out-of-town agent who can guide you through every step. Just reach out – it'd be great to hear from you!
