How much does it cost to buy a home in Canada?

Using CMHC (Canada Mortgage & Housing Corp) anyone can buy a home in Canada with just 5% down payment. (To avoid CMHC fees, they would need 20% down) So a $350,000 house would require a down payment of $17,500, which must come in the form of a cash down payment OR via a GIFT from parents or other sources. In addition to the down payment, home buyers needs to budget for closing costs, which include legal fees, property taxes, land titles taxes, etc. These are often tied to home’s value and add up to an estimated 2.5% to 3% of price of the home. So, a buyer needs to have approx. 7.5% to 8% of the total cost of the house (or condo) in savings (or GIFT) when embarking on the journey to purchase a home.

What does the future of smart homes look like?

Mordor Intelligence calculates that the smart home market in 2021 was valued at $79.13 billion and is expected to grow to $313.95 billion by 2027, with a compound annual growth rate (CAGR) of 25.3%. For more, check this excellent article on the reasons by this growth.

How do you make a smart home in 2023?

A simple way to start is to invest in smart home security and smart home appliances. Other smart home gadgets like lights, temperature control and stereo voice control will make daily tasks easier.

Who are the key players in the smart home market?

The best known key smart home platforms are Amazon Echo and Google Assistant. But an emerging player is Govee, maker of remote control lights and temperature sensors. Other players include Apple, Samsung Smart Things, IKEA and Texas Instruments.