Show notes
For many Canadians, real estate is a deeply personal milestone. It’s an investment in the future, and often a building block for wealth. But as we look ahead, a new reality is taking shape. With mortgage renewals on the horizon, economic uncertainty and real estate markets showing varied performance across the provinces, homeowners and buyers alike are facing more complex decisions than ever. Is now the time to look into an investment property, buy, sell or renovate?In this episode of Smart Advice, host Carissa Lucreziano sits down with real estate investment expert, entrepreneur, and television host Scott McGillivray. Known for empowering Canadians through shows like Vacation House Rules and Renovation Resort, Scott brings sharp insight to a timely conversation. Together they explore what’s happening in the 2025 real estate market—from pre-construction drawbacks and cash-flow-positive regions to renovation trends and hidden equity opportunities. Scott's refreshingly candid advice offers both caution and optimism to those looking to make their next move in today’s unpredictable environment.This episode gives you actionable insights to make smarter financial decisions and seize the real estate opportunity others may miss.Here are three reasons why you should listen to this episode:Understand where Canada’s real estate opportunities are strongest in 2025Learn which renovations offer the highest ROI and how to capitalize on timing and costs.Reflect on how building the right financial team can help you make strategic real estate moves.ResourcesCIBC's "Smart Advice" Podcast and Website - Website | Apple Podcast | SpotifyVisit CIBC for more Smart AdviceHow to navigate the housing market in 2025 with confidenceVacation House Rules | Website: HGTV Canada - Vacation House RulesRenovation Resort | Website: Renovation Resort ShowEpisode Highlights[01:46] Examining the Canadian real estate marketThe Canadian real estate market is shifting due to political and global changes, so investment strategies will also be in flux.Scott McGillivray joins the conversation, highlighting the mixed confidence in the market and the impact of economic uncertainty on mortgage renewals.The delayed spring market and regional differences in real estate trends make for an interesting environment in which to look for an investment property.However, there are still many opportunities in the current market, particularly for first-time home buyers and those looking to upgrade or renovate.[05:28] Entering the condo market for an investment propertyThe condo market may be stagnating, while condo developers also face multiple challenges.New and existing condo markets are not the same; the market is dynamic and affected by changing rates, rules, pricing, immigration, and even government.Existing inventory may perform better in the next few years due to the lack of investor incentives and high development costs.Government policies have the potential to stimulate the condo market, including reducing development fees and taxes on new construction.[10:44] Regional investment opportunitiesScott marks Alberta, Saskatchewan, Manitoba, New Brunswick, and Newfoundland as provinces for investors looking for cash flow.For equity investors, Ontario, British Columbia, and Quebec may be provinces where an equity investor might look for an investment property.[11:41] Scott: “Your ticket to getting good deals right now — as long as you know what a good deal really looks like, that doesn't mean just go buy it — but Ontario, British Columbia, Quebec, those are the provinces right now where you see the opportunity.”It’s not enough to have an investment property in these locations; equally critical is understanding the local market and working with professionals.Chasing opportunities tends to be a losing game; Canadians need financial education and preparation to seize opportunities when they arise.[14:24] Renovation trends and cost managementCarissa introduces the topic of renovations for an investment property, noting that 50% of Canadians are either planning or completing renovations according to a 2024 CIBC homeownership poll.Scott advises focusing on small to medium renovations with the best return on investment, such as upgrading fixtures, flooring, and paint.Scott highlights the importance of predictability in renovations, especially with the potential for increased costs on appliances and materials.Scott suggests having a safety net and working with financial professionals to manage costs and ensure long-term renovation success.[18:02] Generating income from an investment propertyAccessibility is the top trend in real estate, particularly due to the significant influence of baby boomers on the real estate market.Equally important is being able to enjoy your home. For example, a gym or pool might not generate income, but it may make your home more enjoyable for you, the owner.There is a balance to be struck between resale value and personal enjoyment of renovations.However, when it comes to a return on investment, Scott advises running the numbers to ensure profitability.[25:04] Seizing real estate opportunitiesScott advises starting now and positioning oneself to take advantage of opportunities, especially while others are in a state of decision paralysis.[25:42] Scott: “Trying to chase opportunities in real estate is a fool's game. Putting yourself in the path of progress is strategic. So when everyone else is doing nothing, that's the best time to do something.”A critical act to take is to surround yourself with the right people and be strategic in real estate investments.Preparation, understanding the numbers, and working with the right team are what helps people find a workable investment property to achieve their real estate goals.About Scott Scott McGillivray is one of Canada’s most trusted voices in real estate, known for turning properties into powerful wealth-building tools. As the host of HGTV’s Vacation House Rules and Renovation Resort, he brings over 20 years of experience in property investment, construction, and market analysis. Through hundreds of income-generating properties across Canada, Scott has mastered the art of strategic renovations and resilient investing.Today, he helps Canadians navigate complex housing decisions with a clear, practical approach grounded in data and experience. Whether the market is cooling or heating up, Scott equips homeowners and investors with the tools to act confidently and build long-term value.Connect with Scott McGillivray on his LinkedIn and website.Enjoyed this Episode?If you did, be sure to subscribe and share it with your friends!Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this with your friends and family. Step out of the chaos of the ever-changing real estate market and find your next investment property. Arm yourself with knowledge, build a strong support system, and embrace the next phase of your real estate journey with confidence.Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, Twitter, or Instagram.Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts.