RSS

Posted on by
Posted in Charlottetown Real Estate
Open House. Open House on Sunday, July 27, 2025 1:00PM - 3:00PM

Please visit our Open House at 13 MACPHEE in Charlottetown. See details here

Open House on Sunday, July 27, 2025 1:00PM - 3:00PM

This open concept 2 bedroom, 1 bath semi-detached home is in a highly sought after neighbourhood in West Royalty. It features hardwood and ceramic floors, and a propane fireplace for warm comfort in the cooler months. New roof in 2022. It is tucked in a quiet subdivision without through traffic, only a 5 minute drive to Charlottetown shopping and a 5 minute walk to bus stop. The orientation is ideal for natural cooling and warming, with a large south facing back deck for evenings of relaxation. It has an attached 13x22 garage with new wifi opener. A full, dry unfinished basement with bathroom rough-in is awaiting your imagination with potential to double your living area, or for lots of storage. A perfect starter home or empty nest downsize. Room sizes are approximate, to be verified by buyer if required. (id:2493)

Read

Posted on by
Posted in Charlottetown Real Estate
New property listed in Charlottetown

I have listed a new property at 13 MACPHEE in Charlottetown. See details here

This open concept 2 bedroom, 1 bath semi-detached home is in a highly sought after neighbourhood in West Royalty. It features hardwood and ceramic floors, and a propane fireplace for warm comfort in the cooler months. New roof in 2022. It is tucked in a quiet subdivision without through traffic, only a 5 minute drive to Charlottetown shopping and a 5 minute walk to bus stop. The orientation is ideal for natural cooling and warming, with a large south facing back deck for evenings of relaxation. It has an attached 13x22 garage with new wifi opener. A full, dry unfinished basement with bathroom rough-in is awaiting your imagination with potential to double your living area, or for lots of storage. A perfect starter home or empty nest downsize. Room sizes are approximate, to be verified by buyer if required. (id:2493)

Read

Posted on by
Posted in Oyster Bed Bridge Real Estate
Open House. Open House on Saturday, May 31, 2025 11:00AM - 1:00PM

Please visit our Open House at 102 CAMP Road in Oyster Bed Bridge. See details here

Open House on Saturday, May 31, 2025 11:00AM - 1:00PM

Priced to sell, 3 bedroom bungalow on a 1 acre waterfront lot with 145 ft of sandy shoreline on beautiful Rustico Bay. Only a 20 Minute drive to Charlottetown. This home offers 2 bedrooms, 1 bath, kitchen/dining and a large living room on the main floor with large window overlooking your waterfront. The basement is fully finished with a third bedroom, family room, den and large laundry with lots of storage. Heat pumps installed on the main floor and downstairs for energy efficiency and comfort. Decks at front, side and rear of home to enjoy sunrises and sunsets. Back yard is partially fenced with chain link. Two sheds on property for additional storage. (id:2493)

Read

Posted on by
Posted in Oyster Bed Bridge Real Estate
Open House. Open House on Sunday, May 18, 2025 2:00PM - 4:00PM

Please visit our Open House at 102 CAMP Road in Oyster Bed Bridge. See details here

Open House on Sunday, May 18, 2025 2:00PM - 4:00PM

Priced to sell, 3 bedroom bungalow on a 1 acre waterfront lot with 145 ft of sandy shoreline on Rustico Bay. Only a 20 Minute drive to Charlottetown. This home offers 2 bedrooms, 1 bath, kitchen/dining and a large living room on the main floor. The basement is fully finished with a third bedroom, family room, den and large laundry with lots of storage. Heat pumps installed on the main floor and downstairs for energy efficiency and comfort. Decks at front, side and rear of home to enjoy sunrises and sunsets. Two sheds on property for additional storage. (id:2493)

Read

Posted on by
Posted in Oyster Bed Bridge Real Estate
New property listed in Oyster Bed Bridge

I have listed a new property at 102 CAMP Road in Oyster Bed Bridge. See details here

Priced to sell, 3 bedroom bungalow on a 1 acre waterfront lot with 145 ft of sandy shoreline on Rustico Bay. Only a 20 Minute drive to Charlottetown. This home offers 2 bedrooms, 1 bath, kitchen/dining and a large living room on the main floor. The basement is fully finished with a third bedroom, family room, den and large laundry with lots of storage. Heat pumps installed on the main floor and downstairs for energy efficiency and comfort. Decks at front, side and rear of home to enjoy sunrises and sunsets. Two sheds on property for additional storage. (id:2493)

Read

Posted on by
What Do Canada’s New Mortgage Rules Mean to You? What Programs Are Available to Me?

The Federal Government has recently loosened the rules on mortgages to help new home buyers get into their first home. Here is a summary of the new changes:

  • Increased the $1 million price cap for insured mortgages to $1.5 million.

  • Increased amortizations to 30-year for first-time home buyers and to buyers of new builds (previously 25 years max).

    • To be considered a first-time homebuyer, a borrower must meet one of the following criteria:

      • the borrower has never purchased a home before;

      • in the last four years, the borrower has not occupied a home as a principal place of residence that either they themselves or their current spouse or common-law partner owned; or,

      • the borrower recently experienced the breakdown of a marriage or common-law partnership.

    • To be considered a new build, the new home must not have been previously occupied for residential purposes.

Examples:

John and Frank were previously pre-approved for $440,000 with 25-yr amortization. With 30-yr amortization, they’ll now be pre-approved for $470,000.

Difference in payments for a $500,000 home with 5% down:

  • 25-yr amortization: $2,609/month

  • 30-yr amortization: $2,365/month

  • NOTE: THE OVERALL COST OF THE MORTGAGE FOR 30-YR WILL BE ~$75,000 MORE THAN 25-YR!

There are also a number of other Federal and Provincial home ownership programs that we would be happy to discuss with you. 

  • Tax-Free First Home Savings Account:

    • contribute up to $8,000 per year, to a lifetime limit of $40,000, towards your first down payment. Tax-free in and tax-free out.

  • Registered Home Buyers’ Plan:

    • withdraw up to $60,000 from your RRSP to buy or build a home.

  • PEI’s Down Payment Assistance Program (DPAP):

    • interest free loan of up to five per cent of the purchase price of a home, to a maximum loan of $17,500.

  • PEI’s Closing Cost Support Program:

    • receive up to $2,500 to support the closing costs of your home purchase.

  • PEI’s Land Tax Exemption:

    • As first time home buyer, you could be exempt from paying 1% land transfer tax.

  • PEI’s Rent-to-Own Pilot Program:

    • Many criteria (contact us).

For more details on these changes and programs and how they could apply to you, please reach out to us at: info@finallyhomepei.ca

Read
Categories:   Charlottetown Real Estate | Market Stats | Open House | Oyster Bed Bridge Real Estate | PEI Real Estate
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.