From the founders: new homes are back in the running

New low-rise homes in the GTA have outsold their ten-year average for six months running, according to the GTA home builders' association. New condos had their slowest September on record.

The reason is the HST rebate. A new build has always carried a tax that resale homes don't. For agreements signed with a builder by March 31, 2027, Ontario's rebate removes most or all of it. Most condo projects can't meet its construction deadlines, so buyers went to low-rise instead.

If you ruled out a new build on price, the comparison has changed. Before you settle on a resale home, see what a new one costs once the rebate comes off. The amount depends on the price and the builder's construction dates. Have your lawyer confirm you qualify before you sign.

The library: new explainers on the Ownright blog

Three new explainers on the Ownright blog. Read whichever one matches where you are in your move.

Selling a condo in Ontario: what's different. Selling a condo is mostly like selling a house, except for one document the buyer will want before they firm up. It's the seller's job to get it.

Conditional offers in Ontario: how conditions work. A lot of buyers assume there's a cooling-off period on a resale home. There isn't, so the conditions they negotiate are their protection, and the clock starts at acceptance.

Switching lenders at mortgage renewal in Ontario. The renewal rate a lender offers is rarely the best one available. Moving to a new lender is simpler than it used to be, and the new lender often covers the cost.

Hot off the press: how Ownright started

Our co-founder and CEO Robert Saunders sat down with the Mantle Mondays podcast last month.

Mantle Mondays: Selling Outcomes, Not Software. Robert on the slow, paper-based closing on his first condo that became the idea for Ownright, and on scaling from one closing a day to 50.

Market snapshot: sales step back as fixed rates jump, and Ontario buyers have plenty to choose from

Our take: Markets now put the odds of a Bank of Canada rate increase on October 28 near 80%, up from roughly one in four in our last issue, after Governor Macklem signalled concern about inflation and September inflation came in at 3.1%. Canada's real estate association says that uncertainty will likely keep some buyers on the sidelines until the Bank's path is clearer.

Client spotlight: in their words

The Ownright advantage

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