Thinking of upgrading your home but unsure what features to invest in? Not all renovations deliver the same return, but some home features can actually increase the value of your home when it comes time to sell. From functional upgrades to stylish enhancements, choosing the right features can make a huge difference. We’ve gathered a list of five features worth investing in to help maximize the value of your home. 

• Read: Home Features That Millennials and Gen Z are Prioritizing

#1: Energy-Efficient Upgrades

In a survey conducted by Zoocasa, 1,000 website users were asked how they would spend $10,000 after purchasing a home. Nearly half (48%) of the respondents said they would invest in energy-efficient upgrades. This data shows that energy efficiency is a feature with high demand in the market. Although solar-powered energy may not be considered essential, it’s attractive to home buyers for multiple reasons. The biggest motivator is reducing utility bills, while being environmentally friendly is a close runner-up. For example, a thermally reflective roof is a popular choice for upgrades as it helps reflect heat from the sun, reducing the amount of energy needed to cool your home.

#2: Kitchen Remodel

The second most important upgrade among homebuyers, according to the Zoocasa survey, was a kitchen remodel, with nearly 20% of respondents selecting it. The kitchen is one of the most closely examined areas when buyers are touring a home. A kitchen that’s both functional and visually appealing signals to buyers that the home is well-maintained. Kitchen remodels can offer a high return on investment, typically ranging from 50% to 96% depending on the scale of the remodel. Minor kitchen renovations could include updating appliances, repainting cabinets, and replacing countertops, while a major kitchen remodel can involve custom-built-in organization systems, soft-close cabinets, and premium finishes. 

#3: Smart Home Technology

Smart home technology has become increasingly popular among homebuyers due to the added layer of security and convenience it provides. According to Forbes, smart home features are one of the most sought-after by buyers, and homes equipped with these systems can sell up to 30% faster than traditional homes. Smart home technology can include indoor and outdoor cameras, video doorbells, smart locks, alarms, and motion sensors, all of which help homeowners monitor and protect their property. In addition to enhancing security, smart home technology makes day-to-day life easier, with features like smart thermostats, smart lighting systems, voice-controlled assistants, and automated window shades. 

• Read: Home Features to Withstand Natural Disasters: Building Resilience for a Safer Future

#4: Renovated Basement

A finished basement adds valuable living space that can be used for a variety of purposes, from a home gym or office to a media and entertainment room. Modern renovations often include updating flooring, finished walls instead of concrete, new lighting fixtures, and adding additional storage, creating a space that is both functional and welcoming. By renovating your basement, you expand your home’s usable square footage, with a return on investment ranging from 65% to 75%.

#5: Garage Door Renovation & Storage

Upgrading or renovating your garage can add an extra 5% to 10% to your home’s overall value. Approximately 80% of homebuyers consider the garage an important part of the home as it’s not just a space for vehicles but also serves as extra storage, a workshop or even a recreational area. Common renovations include replacing an old, heavy garage door with a lighter, automatic one, improving both functionality and curb appeal. Other updates include updating flooring, motion sensor lights, and extra storage spaces. 

Maximizing Your Home’s Value

Investing in these strategic home upgrades not only increases the value of your home when it comes time to sell, but also makes everyday living safer, easier, and more enjoyable. Even small feature upgrades within one of these areas make a noticeable difference, helping your home stand out in the market. 

For Canadian homeowners and buyers, the question of whether to go fixed or variable is a familiar one. Yet in 2025, the decision looks different from how it has in years past. Fixed and variable mortgage rates are nearly identical, hovering around 3.94% versus 3.95%, a convergence that almost never happens. Normally, fixed rates carry a premium to reflect future uncertainty, while variable rates are priced lower to entice borrowers willing to take on economic and market risks. Here’s what this means for Canadian buyers and homeowners right now. 

Why Fixed and Variable Rates Are Nearly the Same

The narrowing gap between fixed and variable rates is the product of several forces working together. Central bank stability is the priority. The Bank of Canada has shifted from aggressive tightening to signaling potential cuts, which reduces the need for lenders to price in large cushions for risk. When the central bank policy rate holds steady, both fixed and variable products move toward the middle ground.

Bond markets are also playing a central role. Since fixed rates are tied to government bond yields, recent declines in yields (driven by fears of slowing growth and cooling inflation) have pulled fixed mortgage rates down. At the same time, variable rates, which depend on the prime rate, have stayed flat because the Bank of Canada hasn’t yet made extensive cuts. Considering market volatility is muted and lenders are competing intensely in a sluggish real estate market, the result is almost no difference in pricing between the two options.

Side-by-Side Mortgage Costs: Fixed Rate and Variable Rate

Data courtesy of CREA and ratehub, September 2025

Get the dataCreated with Datawrapper

How September’s Rate Cut Might Impact You

This week, the Bank of Canada announced it is lowering the overnight lending rate by 25 basis points from 2.75% to 2.5%. It has been over three years since the overnight lending rate last stood at 2.5%, a level last seen in July 2022. That reduction would directly lower the prime rate, which in turn lowers the cost of variable-rate mortgages. Fixed rates, on the other hand, won’t react as quickly because they depend more on where bond yields move. If bond yields remain stuck above 3%, as they have in recent months, fixed mortgages could stay elevated even as variable rates decline.

The broader context also matters. Canada lost 66,000 jobs recently, pushing unemployment to 7.1%. With economic momentum slowing, the Bank of Canada faces pressure to act more aggressively to stimulate growth. If further cuts come later this year, variable rates could fall below fixed for the first time in years. That would revive their traditional advantage as the lower-cost option for borrowers willing to accept some uncertainty.

“The spread between the lowest fixed and variable rates is a scant four basis points, and it’s possible both rate types will see decreases in the coming weeks,”  says Penelope Graham, mortgage expert at Ratehub.”For those deciding between the two, it comes down to risk tolerance; variable rates may offer greater savings this year, but there are still economic headwinds that could push inflation higher, which would prompt the BoC to reverse course.”

• Related: Crash or Correction? The Truth About Toronto’s Condo Market  

How Bond Yields Shape Fixed Mortgage Rates

In Canada, fixed mortgage rates (particularly the 5-year fixed) are directly influenced by government bond yields. Lenders establish these rates by using the 5-year bond yield as a benchmark and then adding a margin (typically 1–2 percentage points) to account for lending risk and profitability. As a result, when bond yields rise, fixed mortgage rates increase, and when bond yields decline, fixed rates become more affordable.

Bond yields themselves are driven by broader market forces, including inflation expectations, economic outlook, and central bank policy signals. For example, when investors seek the security of bonds, prices increase and yields fall, leading to lower fixed mortgage rates. Conversely, when bond prices drop, yields rise, pushing fixed rates higher.

The key takeaway is that changes in bond yields can cause fixed mortgage rates to move independently of the Bank of Canada’s policy rate—often in anticipation of future shifts. For borrowers, monitoring bond market movements provides valuable insight into where fixed mortgage rates may be headed.

• Related: Borrowing Burdens Then and Now: A Generational Look at Canadian Homeownership

Could Fixed Become Cheaper Again?

There’s always the possibility that falling bond yields could drag fixed rates down further. If economic data continues to disappoint or global shocks increase demand for safer assets like government bonds, yields could decline toward 2.5%, creating room for lenders to reduce fixed rates more meaningfully. But most forecasts suggest variable mortgages will hold the edge into late 2025 and 2026. 

That said, the spread will remain narrow. The days of a full percentage-point advantage for variables are unlikely to return soon. Instead, we can expect fixed and variable rates to remain tightly linked, shifting back and forth depending on how bond markets and the Bank of Canada respond to evolving economic conditions.

• Related: When Investors Move In, Renters Pay More in Ontario’s Mid-Sized Cities

When Fixed Rates Are the Safer Choice

For many borrowers, choosing fixed is less about chasing the lowest rate and more about securing peace of mind. A fixed mortgage ensures predictable payments for the entire term, which makes long-term budgeting straightforward. This option is particularly appealing for households with limited financial flexibility, those on fixed incomes, or families planning to stay in their homes for many years. Even if rates fall modestly, the cost of paying slightly more for certainty may be worth it when viewed as insurance against the unexpected.

Fixed rates also protect against the possibility that forecasts are wrong. If inflation were to spike again or global pressures forced the Bank of Canada to reverse course, borrowers locked into fixed mortgages would be shielded from payment shocks. This stability can feel especially reassuring for anyone who remembers the rapid series of hikes in 2022 and 2023.

When Variable Rates Could Be the Smarter Bet

Variable mortgages, however, offer a different kind of value. If the Bank of Canada continues cutting rates into 2026, variable borrowers will see their payments drop almost immediately, creating potential savings over the life of the mortgage. This makes variables especially attractive to borrowers who have financial breathing room, are comfortable with some level of risk, or are confident that central bank easing will continue.

Variable mortgages also come with structural advantages. Penalties for breaking them are usually lower than for fixed mortgages, which can matter if you plan to move, refinance, or pay down your mortgage aggressively before the end of the term. Many variable products also allow conversion to a fixed rate mid-term without penalty, giving borrowers the flexibility to adapt if conditions change. For those who don’t mind monitoring the market, a variable can be a strategic choice with built-in flexibility.

What History Tells Us About Fixed vs. Variable

Looking back provides some useful perspective. Between the 1950s and 2000, Canadian homeowners would have saved money with a variable mortgage about 90 percent of the time. After the 2008 financial crisis, central banks cut rates sharply, and variables once again offered borrowers significant savings. During the pandemic, variable rates fell to extraordinary lows (as little as 0.88%) while fixed rates remained higher due to bond market uncertainty.

But history also shows the risks. In 2022 and 2023, variable borrowers faced painful increases as the Bank of Canada raised rates at the fastest pace in decades. For many, payments spiked by hundreds of dollars per month, wiping out the perceived advantage of going variable. That experience is still fresh in the minds of borrowers and has made risk tolerance a more important factor than ever.

The Condominium Authority of Ontario is pleased to announce the release of the newly updated CAO Condo Buyers’ Guide, a comprehensive and accessible resource for anyone thinking about buying a residential condo in Ontario.

The guide has undergone a review through consultations and user testing with condo community members to ensure that it reflects the evolving needs of Ontario’s condo sector. The newly updated guide is designed to educate prospective buyers about their rights, responsibilities, and duties when it comes to condo living.

 “The updated Condo Buyers’ Guide is a critical tool for consumer protection and education,” said Robin Dafoe, CAO CEO and Registrar. “By providing clear and relevant information, we’re helping Ontarians make informed purchase decisions and supporting them in becoming active and knowledgeable members of their condo communities.”

 Some key topics include:

1. The differences between buying re-sale vs pre-construction condos
   

2. Recommending all pre-construction buyers review important documents and re-sale buyers review status certificates before purchasing
   

3. Making the most out of collaborative and harmonious condo living
   

4. Governance, management, and financial operations of condo corporations
   

5. Common issues and how to resolve them

Developers are legally required to provide this guide to purchasers of pre-construction condos along with their agreement of purchase and sale. Receipt of the guide and other important documents marks the beginning of the mandatory 10-day cooling-off period, during which buyers may rescind their agreement.

The CAO will continue to review the Guide and consult with Ontario’s condo community to ensure the Buyers’ Guide continues to remain relevant and impactful.

The updated guide is now available on the CAO website in English and French.

READ THE GUIDE

The patio at Little Victories on Elgin Street. Photo by Jordan Pizzuti

Patio season is nearly upon us and, contrary to popular belief, it is not just about beers and lambrusco. No, as wonderful as those things are, it is just as lovely to open your laptop with an iced oat latte at your side and work the day away while catching rays and reapplying sunscreen during breaks. The work week is long and the winter is longer, but thankfully there are a number of gorgeous coffee shops in the city that provide the patio space and wi-fi you need to make that work 

Planet Coffee

The Planet Coffee patio at 24 York St. in the ByWard Market. Photo by Jordan Pizzuti

In the heart of the ByWard Market is a courtyard. In that courtyard is a coffee shop. And that coffee shop has a patio that feels like you’ve been separated from Ottawa’s downtown core and allows you to escape for your workday.

Planet Coffee has to be one of the most well-known coffee shops in the core of Ottawa. It’s been around for years and its European back-alley vibes make it the perfect place to execute a coffee shop workday or business meeting. The iconic old-school metal patio furniture is charming and recognizable in its own right.

This is where people come to gather and work in a calm atmosphere. Planet Coffee offers coffee shop patrons a place to escape with their thoughts and execute effectively when they need that quiet space to work.

Happy Goat (Elgin Street)

The patio at Happy Goat at 326 Elgin St. Photo by Jordan Pizzuti

This Ottawa street’s liveliness certainly doesn’t die during the work week. Like many patios on the Elgin Street strip, Happy Goat’s is small but effective. It manages to include a great amount of sunshine, comfortable seating and is, of course, situated right in the middle of the hustle and bustle of one of Ottawa’s premier hospitality streets. That style of work-from-home might not be for everyone, but for those of us who need the extra motivation of a busy neighbourhood to get us through the work week, Happy Goat is ideal.

This Ottawa classic should be looked at not as a patio with limited seating, but as an exclusive space where amazing work can be done. Get there early for the best seats in the sun, because who doesn’t want to people-watch during the workday?

Casa Di Moni

The patio at Casa di Moni Cafe and Gelato at 51 York St in the ByWard Market. Photo by Jordan Pizzuti

Another beautiful space in the downtown core, Casa Di Moni is a haven for those seeking to work outdoors at a coffee shop. Its outdoor space is in the heart of the ByWard Market, allowing workers from all over the area to gather and get their creative juices flowing. The offerings include classic coffees and teas, but the gelato as a late-week treat for meeting all of your deadlines is what we’re really here for.

It’s a hot summer day, you’ve busted your behind at work all week, you deserve a treat. So get set up on the corner patio with an iced latte, a gelato and your laptop so that you can end the week off right.

Arlington Five

A coffee from Arlington Five at 5 Arlington Ave. Photo by Jordan Pizzuti

Arlington Five provides the product, the excellent service and the atmosphere that everyone looks for in a local hang, but we’re here for the back patio!

With a variety of spots in and out of the sun, Arlington Five’s patio gives you a “dealers choice” experience for your workday. Cracking open your laptop to perform any number of mundane work tasks feels infinitely better with an Arlington Five beverage, snack and patio seat. The fact that it’s located in the heart of Centretown makes this outdoor office spot a no-brainer.

Drip House

A coffee from Arlington Five at 5 Arlington Ave. Photo by Jordan Pizzuti

Where do we start with Drip House? Its four locations make it an easy choice for people from all across the city’s core, but if you’re looking for vibes I would suggest the Parkdale or Glebe locations. 

I work at Drip House regularly and the idea of a banana matcha latte and hashbrowns helping me get through my next article makes me more excited than it probably should. Drip House is a representation of community, creativity and productivity. It is seldom that you will walk into any of its locations and not see a professional, a creative or a professional creative working away on their next deadline. This only gets better with the warmer weather, as sitting outside on any of the patios creates an atmosphere you will thrive in. There is no workday that cannot be improved by a Drip House patio.

Art House

Art House Cafe at 555 Somerset St W will have a patio again this summer. Photo by Jordan Pizzuti

If you’ve ever walked down Somerset Street in the warmer months, you’ve likely seen the buzz of the Art House parking-lot-patio. This is the place for those who like the hustle and bustle of the outside world to keep them motivated on their workday (like me). Art House is all about the vibes. From the music to the space to the location, this is a place to complete your workday when you need a little extra motivation to get things done.

Picture this: it’s a Friday afternoon, so you pop out and grab a seat on the deck at Art House. All of a sudden, your worries are replaced by sunshine and motivation and those weekend deadlines don’t seem so daunting. Romantic, isn’t it?

Little Victories

The Little Victories patio at 44 Elgin St overlooks the National War Memorial. Photo by Jordan Pizzuti

Little Victories is a favourite on the Ottawa coffee scene and any of its locations can be classified as a winner. However, the Elgin Street patio is the space that really speaks to me and many others when it comes time to work outdoors. 

The mid-century modern building offers an outdoor haven for chatter and business dealings during the warmer months and being just around the corner from Sparks Street makes it a prime location to get out of the office. It’s no secret that it has wonderful coffee, some of the city’s best, but the atmosphere on the sidewalk-adjacent patio makes it one of the more special places to get work done. The view is the truest representation of the Ottawa business world and is exactly what this article is about: finding a way to enjoy what the capital city has to offer in the middle of a busy work week.

-article by Jordan Pizzuti, The Ottawa Business Journal