Now that we are well into the start of 2025, it’s a great time to re-assess your personal goals and resolutions you made back in January. Your home and finances are key areas where small, intentional changes can lead to big improvements in security, stability, and quality of life.

I now have the January sales figures in from the Board. They are not precise. This concerns me when it comes to both number crunching and reporting. I’m not faulting anyone but the fact is that a couple of changes have occurred which skew the figures. The first, as we’ve discussed in the past, is that the industry over the past year or so has switched from average sale prices to HPI prices (Home Price Index) which zeros down on one type of sale.

Despite the Bank of Canada taking steps to reduce interest rates, many Canadians still feel pressure due to the overall cost of living and inflation. This uncertainty can be unnerving for many individuals, but don’t fret!

Last issue we looked at the challenge of setting out to build an investment portfolio. We saw that while a multi-family building is a great place to start, regardless of the investors profile, there are a number of considerations as we continue to develop.

Our last article focused on situations where a property is damaged before a deal closes, such as events of water damage. We considered how in situations of fundamental breach, a purchaser may be entitled to terminate the agreement or else take the proceeds of insurance and complete the purchase. However, this “take it or leave it” scenario is rarely the full picture. Most events of damage fall short of fundamental breach. This article focuses on the strategies and options that may be available to home buyers when they are notified that a property has experienced some damage or alteration prior to closing.