Let’s be honest—2020 was a dream for homebuyers. Prices were lower, and mortgage rates hovered around 2.84%. But if you didn’t take the plunge, you’re not alone. Plenty of people held off, waiting for that so-called “perfect” moment.

Fast forward to today: prices have climbed, interest rates have bounced around, and some buyers are still on the sidelines. But here’s the deal—there’s no such thing as a perfect time to buy. There’s only the right time for you.

If you own a home, are thinking about buying or selling a home, or have a mortgage renewal coming up, today’s episode is here to help you make the best financial decisions in this changing market. Ultimately my goal is to save you some money when it comes to all this, or at least make things less stressful for you.

When shopping for a mortgage, most people focus on one thing—getting the lowest interest rate. Makes sense, right? But what if life throws you a curveball and you need to break your mortgage early? That “great” low rate could end up costing you big time if the penalties are steep.

In this conversation, I share my journey with host Robin Speziale of paying off my mortgage in just over three years and discusses various strategies for home buyers in Canada. I highlight the importance of understanding mortgage types, the current challenges in the real estate market, and the role of mortgage brokers compared to banks.

In my interview with Jelani, we explore a range of timely topics in the real estate world, including current opportunities for investors, the potential of garden suites and fourplexes, and the implications of the increased price cap for insured mortgages, which has risen from $1 million to $1.5 million. We also discuss valuable advice for first-time homebuyers and those navigating buying and selling in today’s real estate market, as well as insights into the current state of the rental market.