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time buyers were born outside of Canada, while almost half of that demographic lives in Ontario. In Alberta, and particularly Calgary, first-time buyers tend to be younger than the rest of Canada and that is largely to do with a fountain of wealth in the province
where incomes are higher than the national average, Gibbons said. “People have a general idea of the process when they buy their first home, but there are a number of reasons why people might wait a bit longer to make that decision.” – Krista Sylvester
sasKatcHeWaN oFFers a BrIGHt reaL estate FUtUre With solid economic foundations, Saskatchewan attracts real estate developers and industry insiders looking for potential growth and opportunity. “The province’s solid economic foundation has allowed unprecedented growth in Saskatchewan, and the real estate market has followed suit,” says Jaimey Midtdal, spokesperson for the Red Door Venture Group. “The amount of undeveloped land attracts real estate developers who see a bright future and burgeoning economy.” The Saskatchewan-based real estate marketing company teams up with outstanding local developers to deliver high-quality developments across the province. “We turn good ideas into profit for our customers, while giving them the tools they need,” Midtdal says. With a vast amount of undeveloped land and Saskatchewan’s potential for development, the real estate market has opened up new and innovative opportunities for developers and for buyers. “There is real estate potential as far as the eye can see in Saskatchewan, and investors should be taking advantage of this potential,”
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Midtdal says. “We’re proud to be a part of the province’s growth.” The Red Door Venture Group works with developers throughout their process, beginning at the land acquisition stage and continuing through to the concept, design, and sales stages. For more about Red Door Venture Group or to schedule a complimentary consultation, visit RedDoorVentureGroup.ca.
Real estate can be a lucrative investment, but venturing into the landlord market can be risky for first-time homebuyers. That’s why extensive research is required before embarking on your first home as an investment, and many industry experts agree first-time landlords should buy homes that have “sellable” features. While it’s important to buy a home that you can sell easily down the road, first-time buyers also need to be cognizant of making the house rent worthy, which might include some immediate renovations that may cost a lot upfront but will be worth it in the long term. First-time landlords should also ensure they conduct a comprehensive tenant screening process and ensure they draft a proper lease.
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If you are in your early to mid-30s and you are just buying your first home you aren’t alone. Almost two-thirds of Canadian first-time homebuyers are younger than 35 years old, with almost half falling between the ages of 25 to 34, according to recent studies. The Canadian Mortgage and Housing Corporation (CMHC) conducted a first-time homebuyer study in 2013 and discovered that consumers are most likely to buy their first home by 35, while only 20 per cent of repeat buyers fall under the same demographic. “Consistent with a younger age profile, first-time buyers have lower household incomes compared to other homebuyers,” says Terri Gibbons, CMHC manager of business development for the Ontario region. “Nearly two-thirds of first-time buyers have a household income of $90,000 a year or less, while one in five have less than $45,000. And although first-time buyers may have lower household incomes, they tend to have higher levels of education compared to other mortgage consumers.” Gibbons says one particularly interesting statistic is that almost one-quarter of first-
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