Hamilton/Burlington Real Estate News - JULY 2025
Real Estate Update
The Hamilton real estate market is constantly changing, so please reach out for detailed stats that are specific to your neighbourhood – or even if you’re just curious about what the house down the street sold for. It’d be great to hear from you!
Bank of Canada Rate Update
The Bank of Canada continues to maintain its policy rate of 2.75%.
On Wednesday, July 30, 2025, the Bank of Canada held its target for the overnight lending rate at 2.75%, marking the third consecutive decision to hold rates steady.
The Bank reiterated that U.S. trade policy remains unpredictable, with new trade actions still being threatened as we approach the looming August 1 deadline for trade negotiations between Canada and the U.S.
The Bank estimated that Canada’s second quarter Gross Domestic Product (GDP) likely contracted by 1.5% due to a reduction in Canadian exports to the U.S. post-tariff implementation.
The Bank also noted that growth in spending is being weighed down by continued economic uncertainty, and labour market conditions in tariff-affected sectors has weakened.
Consumer Price Index (CPI) inflation rose to 1.9% in June as high shelter prices, particularly for rent, remain the main contributor to overall inflation.
The bank estimates that underlying inflation is around 2.5%, which remains within its target of 1-3%.
The Bank mapped out three scenarios for its Canadian economic forecasts:
Current Tariffs Remain In Place
- GDP growth picks up to 1% in the second half of 2025, advances to 2% by 2027.
- Exports stabilize and household spending increases gradually.
- Total inflation stays close to 2%.
De-escalation of Tariffs
- GDP growth rebounds faster.
- Lower tariffs reduce upward pressure on inflation.
Escalation of Tariffs
- GDP continues to decline through the remainder of 2025.
- Higher tariffs increase upward pressure on inflation.
Given high levels of uncertainty, the Governing Council opted to hold rates steady.
The Bank continues to assess the evolution of downward pressures on inflation from a weaker economy against upward pressures on inflation from higher costs related to tariffs.
In its closing notes, the Bank stated that its focus would remain on price stability for Canadians, paying particular attention to the following risks and uncertainties:
- the extent to which higher tariffs reduce demand for Canadian exports;
- how much this spills over into business investment, employment and household spending;
- how much and how quickly cost increases are passed on to consumer prices; and,
- how inflation expectations evolve.
The Bank of Canada will make its next scheduled interest rate announcement on September 17, 2025.
Calculating Closing Costs
The last thing a buyer wants to deal with at closing is an unexpected bill.
House hunting is lots of fun, but once you purchase a home, there are various fees you’ll be responsible for when it comes time to close the deal.
Your mortgage and down payment will cover the cost of your home, but it’s important to proactively factor in any extra fees so you’re not caught off guard. Here are some common closing costs to expect:
Appraisal Fee
The bank will require a home appraisal when arranging a mortgage. The home appraisal cost is usually passed on to the buyer, but it can often be worked into the mortgage.
Mortgage Insurance
If you don’t have a large down payment, you’ll need to pay for mortgage insurance, which varies depending on the size of your down payment and the amount of your mortgage.
Title Insurance
Title insurance ensures clear ownership of the property. Banks often require title insurance to arrange a mortgage, especially when a survey isn’t available.
Legal Fees
Your real estate lawyer is responsible for ensuring that all legal and financial conditions have been met and that there are no outstanding charges or liens against your new home.
Taxes & Adjustments
You’ll be responsible for paying land transfer tax and other monetary adjustments, such as reimbursing the seller for prepaid property taxes or maintenance fees.
The exact amount you’ll pay in closing costs depends on your specific circumstances, but it's usually around 3% of the purchase price.
For a more accurate estimate, along with tips on how to reduce your closing costs, please reach out so we can discuss your options.
Buying a home can be an emotional roller coaster, but you'll enjoy a much smoother ride if you're prepared for what lies ahead!
6 Embassy Dr. in Hamilton
Welcome to 473 Hamilton Drive Located in One of Ancasters Most Sought-After Prestigious Neighbourhoods. This Spacious 4-Bedroom Home is Set on a Spectacular 92' x 172' Lot and Features a Durable Metal Roof, a Single-Car Garage, and a Concrete Driveway with Parking for Up to 3 Vehicles. Whether You Choose to Renovate, Invest, or Build Your Dream Home, the Possibilities are Endless. Located Close to Schools, Parks, Shopping, Conservation, Highway 403 and The Linc Parkway. This is a Rare Chance to Secure a Premium Piece of Ancaster Real Estate.
473 Hamilton Dr. in Ancaster
Welcome to 473 Hamilton Drive Located in One of Ancasters Most Sought-After Prestigious Neighbourhoods. This Spacious 4-Bedroom Home is Set on a Spectacular 92' x 172' Lot and Features a Durable Metal Roof, a Single-Car Garage, and a Concrete Driveway with Parking for Up to 3 Vehicles. Whether You Choose to Renovate, Invest, or Build Your Dream Home, the Possibilities are Endless. Located Close to Schools, Parks, Shopping, Conservation, Highway 403 and The Linc Parkway. This is a Rare Chance to Secure a Premium Piece of Ancaster Real Estate.
13 Biggar Cres. in Grimsby!
WELCOME HOME TO THIS BEAUTIFUL PROPERTY IN A SOUGHT-AFTER NEW GRIMSBY NEIGHBOURHOOD. STEP INTO AN IMPRESSIVE FOYER FEATURING A SOARING OPEN-TO-ABOVE DESIGN, CATHEDRAL WINDOWS, AND A STRIKING CHANDELIER. ENJOY A FORMAL SEPARATE DINING ROOM, IDEAL FOR ENTERTAINING, THAT FLOWS INTO A BRIGHT FAMILY ROOM WITH LARGE WINDOWS AND A COZY FIREPLACE. THE MODERN EAT-IN KITCHEN OFFERS A PANTRY AND STYLISH UPGRADES INCLUDING QUARTZ COUNTERTOPS, UPGRADED CABINETRY, BACKSPLASH, UNDER-CABINET LIGHTING, AND STAINLESS STEEL APPLIANCES. THE DINETTE AREA OPENS TO A SPACIOUS BACKYARD, READY FOR YOU TO ENJOY OUTDOOR LIVING AND ENTERTAINING. UPSTAIRS, YOULL FIND FOUR GENEROUSLY SIZED BEDROOMS AND TWO FULL BATHROOMS. THE PRIMARY BEDROOM FEATURES HARDWOOD FLOORING, A WALK-IN CLOSET, AND A LUXURIOUS ENSUITE WITH DOUBLE SINKS, A SOAKER TUB, AND AN UPGRADED GLASS SHOWER. A WALK-IN LINEN CLOSET PROVIDES ADDITIONAL STORAGE ON THE SECOND FLOOR. THE FINISHED BASEMENT ADDS EVEN MORE LIVING SPACE WITH A LARGE REC ROOM AND A MODERN THREE-PIECE BATHROOM. POTLIGHTS ENHANCE THE MAIN FLOOR, AND THE HOME FEATURES HARDWOOD AND TILE THROUGHOUT, WITH CARPET LIMITED TO BEDROOMS TWO, THREE, AND FOUR. QUARTZ COUNTERTOPS ARE FEATURED THROUGHOUT THE HOME. MOVE-IN READY AND FULL OF MODERN COMFORTS, THIS HOME IS CLOSE TO WINERIES, GOLF COURSES, SCHOOLS, FIFTY POINT CONSERVATION AREA, AND LAKE ONTARIO BEACHES, WITH EASY ACCESS TO THE HIGHWAY. RSA.
11 Rebecca St. Unit #406-For Sale/For Lease!
Welcome to This Two-bedroom I Bathroom Industrial loft in the heart of Hamilton's Downtown Area. Just Steps Away from the Trendy King William St. and James St. N. Restaurants, the Newly Renovated TD Colosseum, the Hamilton Farmer's Market, GO Transit (West Harbour and Hunter Stations), Parks, Grocery Stores, the Royal Botanical Gardens, Bay Front Park and St. Joseph's and The General Hospital. Parking is available on the street or in the neighbouring public lots. Monthly and yearly passes available.
Creating a Functional Home Office
If you work from home, you may as well take care of business in comfort and style!
The last thing a buyer wants to deal with at closing is an unexpected bill.
Whether you’re working at a desk that’s tucked into a closet or you’ve converted the garage into an office, it’s important that your workspace is comfortable and functional.
There are many advantages to working from home, but it also comes with a unique set of challenges. Here are a few tips that’ll help you get the most out of your home office:
Bright Ideas
Choose a spot with indirect natural light to help reduce eye strain from screen glare. Also, consider a SAD lamp to help lift your spirits on those dreary days.
Take a Stand
Consider purchasing an adjustable standing desk to help your posture. If a standing desk isn’t an option, make sure your monitor, keyboard and mouse are at the correct levels.
Background Check
Your background may not say a word during Zoom calls, but it’ll speak to your audience as it’s one of the first things they’ll notice, so make sure it sends the right message.
Sound Off
If you spend a lot of time on conference calls, you may want to think about soundproofing your space. Carpets, rugs and curtains are an easy way to absorb excess noise.
Botanical Boost
Spruce up your space by adding a few plants in and around your office, as they’ll help improve the air quality and increase your general level of happiness.
Make Space
Try to make the most of your office space by hanging shelves on the walls or maximizing the space underneath your desk with hanging organizers or rolling drawer units.
A comfortable home office can make a huge difference to your productivity, so it’s important to take the time to properly set up your space.
On top of that, if you’re thinking of selling your home, a functional home office will likely be high on many home buyers’ wish lists, now that working remotely has become so popular.
