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🏡 UP TO $80,000 FOR HOME RENOVATIONS IN WELLINGTON COUNTY?

A new financing program being developed by Wellington County could change how homeowners pay for major home improvements.

But there’s an interesting catch...

THE LOAN COULD STAY WITH YOUR HOUSE WHEN YOU SELL!

Here’s what’s being proposed:

💰 Financing between $10,000 and $80,000, subject to eligibility and property value limits.

🏡 Eligible improvements could include heat pumps, insulation, solar panels, EV chargers and flood protection.

📋 Instead of traditional monthly loan payments, homeowners would repay the financing through their property taxes.

🏷️ And here’s the unusual part: the repayment obligation would be attached to the property itself.

That means if you sell your home before the loan is repaid, the outstanding obligation could remain with the property unless it’s paid off.

For homeowners, this could make expensive energy-efficiency improvements more accessible.

For buyers and sellers, it introduces another important consideration during a real estate transaction.

The program is still being implemented, and final financing terms, including interest rates, have not yet been announced.

💬 WHAT DO YOU THINK?

Would you consider financing major renovations through your property taxes, or would you prefer a traditional loan?

👇 Let us know your thoughts!

#MullinGroup #OnTheMove #WellingtonCounty #RealEstate #HomeRenovations

$🏦 COULD INTEREST RATES BE GOING UP NEXT WEEK? If you’re planning to buy a home in the next few months, this is something you’ll want to pay attention to. The Bank of Canada is scheduled to make its next interest rate announcement on October 28, and expectations have shifted dramatically. Here’s what we know: 📈 Canada’s annual inflation rate increased to 3.1% in September. ⛽ Rising energy costs are creating renewed concerns about inflation. 🏦 On October 19, financial markets were pricing in approximately an 80% chance of a Bank of Canada rate hike next week, according to Reuters. BUT HERE’S WHAT HOME BUYERS NEED TO KNOW\... Many Canadian mortgage lenders offer pre-approvals that include a fixed mortgage rate hold for approximately 120 days. That means you could potentially secure today’s offered fixed rate while you search for your next home, even if interest rates increase during that period. A mortgage pre-approval can also help you understand your purchasing power, estimate your payments and shop with greater confidence. Of course, a pre-approval isn’t a guarantee of final financing, and rate-hold terms vary by lender. The Bank of Canada hasn’t made its decision yet, and fixed mortgage rates don’t necessarily move directly with its overnight rate. 🏡 THINKING ABOUT BUYING IN DUFFERIN, CALEDON OR WELLINGTON? Don’t wait until you’ve found the perfect property to get your financing organized. 💬 Comment PLAN below or send us a message, and we can help you understand the next steps toward purchasing your home. \#MullinGroup #OnTheMove #RealEstate #MortgageRates #OntarioRealEstate$

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🏘️ 180 NEW TOWNHOMES COULD REPLACE INDUSTRIAL LAND IN FERGUS!

A proposed redevelopment at 650 Victoria Terrace is raising an interesting question about the future of housing and employment lands in Centre Wellington.

Dunpar Development is looking to transform an existing industrial property into a new residential community.

And following public feedback, the plans have changed.

Here’s what’s proposed:

🏡 180 townhouse units, reduced from the original 192.

🏬 11 commercial units have been removed from the plans.

🌳 A publicly accessible municipal park has been added.

🚗 Revised access arrangements and additional landscaping are intended to address community concerns.

BUT HERE’S THE BIGGER STORY...

The property is currently designated for employment uses, meaning a change in land-use designation is needed before residential development can proceed.

Centre Wellington council voted 5–2 to endorse the proposed Official Plan amendment, but this is only an early step in the approval process.

Some councillors have raised concerns about losing employment lands, potential job impacts, traffic and the capacity of nearby schools.

As communities like Fergus continue growing, finding the right balance between housing and local employment opportunities is becoming increasingly important.

💬 WHAT DO YOU THINK?

Should communities be converting existing industrial properties into residential developments, or should employment lands be protected for future businesses and jobs?

👇 Let us know your thoughts!

#MullinGroup #OnTheMove #Fergus #CentreWellington #RealEstate