Tips for Military & DND Personnel Relocating to Ottawa

As the weather heats up in Ottawa after a long, cold winter, so does the local housing market – pandemic notwithstanding. For military/Department of National Defence (DND) personnel relocating to the area or those simply looking for a new residence, the Wilson Team , Ottawa Mortgage Brokers offers you tips for thriving in this competitive market, along with basic information about travelling to the area.

There is no question that it has been a challenging year for military and DND personnel who are relocating, given the travel and quarantine restrictions that have been imposed at various times. Nonetheless, the Ottawa housing market remains robust. Realtors with the Ottawa Real Estate Board sold 964 homes and condos in January 2021, up 24 per cent from the previous January. Of these, 674 were homes and 290 were condominiums.

“We would have certainly seen higher sales numbers if there were more properties available because the demand is definitely there,” said Debra Wright, OREB president, in a news release.

Key Steps

If you plan to join the hunt, prepare yourself in advance by having your finances in order. Interest rates are low, so it’s a great time for military/DND personnel to enter the local housing market. Talk to a mortgage broker about the financing options available and get pre-approved for a mortgage, as there are so many mortgage contracts to choose from. Rates are important, but not the most important factor to consider when you are looking at military pricing. There are may things to consider, depending on the type of home, city you are moving to, mortgage penalties when you need to break the mortgage, what happens if you take the mortgage with you, and much more. All these mortgage contracts work differently, and we are here to protect your equity.

We work with the Big Banks that have DND special rate mortgages, but it is important to make sure that is your best solution. There is no one size fits all mortgage, and the wrong decision can cost you thousands of unnecessary interest costs and charges down the road if you are not properly advised.

The Wilson Team also provides a full assessment of your current financial structure and can offer many unique strategies that will allow you to be mortgage-free decades sooner. Mortgages can be so much more than just a debt. Mortgages have the power to turn into one of your greatest wealth building tools that will help you grow your savings 10xs faster than you anticipated.

In addition, you need to find a good realtor who understands the HHT process. From your posting message (even if you have not received it yet ) and all the way the closing date, you need the right professionals that can handle all of the intricacies that are involved, and of course help steer you to where you can find the other professionals when you come such as doctors, dentists, health and wellness and so much more when you come to Ottawa. We can provide you with the best Ottawa Relocation Real Estate Agents that have not only served in the military, but have also built a very successful real estate business and will ensure you are relieved from all stress.

Buying a home is already stressful enough. Leave the process to a team of professionals equipped to handle the details and provide you with sound advice that only comes from years of experience.

Furthermore, you’ll want someone with whom you feel comfortable and who has your best interests at heart. After all, buying a home is one of the biggest purchases you’ll make, so you’ll want the best guidance.

Location, Location, Location

Do some research on the neighbourhoods that might suit you or your family. It’s all a matter of preference. If the idea of living downtown appeals to you, consider Westboro, Wellington Village, Hintonburg, Ottawa South, and the Glebe. They are all walkable and lively neighbourhoods.

However, if you prefer the suburbs, you’ll get more square footage for your dollar. Stittsville is popular with military/DND personnel, given the variety of styles and sizes of the homes and its proximity to the National Defence Headquarters on Carling Ave. If you’re moving to Ottawa from a rural area, you might prefer some of the surrounding towns such as Kemptville or Carleton Place, where there is more greenspace available.

Gatineau, just across the border in Quebec, is also an option. Home prices are less expensive and subsidized daycare is a big draw, although taxes can be higher.

All of this adds up to one major suggestion: Do your homework if you are trying to go this alone, but give us a call to get that conversation going so you don’t have to do this all on your own. We have a comprehensive list of all the professionals you need, including lawyers, who you’ll need to be in touch with throughout the entire process.

To get a peek, you can make your first stop the Ottawa Neighbourhood Study. You can also check a website focused on immigration, Moving2Canada.

Other Tips for Buying in a Hot Market

In a hot market, buyers are at the mercy of the sellers and are competing for a limited supply of properties. Here are some steps military/DND personnel can take to ensure they have a chance at the properties that appeal to them:

  • Know Your Boundaries. Be aware of items that are up for compromise: finishes, colours ,and appliances can be changed, for example. Noisy streets cannot.
  • Offer to Close Quickly. If you know the homeowner is in a hurry, offer to close sooner than the standard time.
  • Get a Pre-Inspection. In a competitive market, owners won’t be willing to fix minor problems. If you plan to offer for a home and offers are due on a specific date, a pre-inspection can give you the information you need to steer clear or to make an appropriate offer.
  • Don’t Skimp on Price. Don’t offer less than the list price. You may need to offer more than the asking price, given the competition. It won’t work in a hot market unless the property has been sitting more than a few weeks.
  • Submit Pre-Approval and Proof of Funds. Date your pre-approval letter the same day you make the offer.
  • Offer More Earnest Money. If you can afford to put more money down for your deposit, do so – if the seller is weighing multiple offers, this might have weight.
  • Have Money in Reserve. With inflated housing prices, appraisals may not reflect your home’s high price tag, and your mortgage won’t be as large. Have money in reserve to make up the difference. Be prepared, which is why you should not work with a bank on this. You need someone who knows how to cover all the lenders, appraisal process, and structure if this happens.
  • Stay the Course. Perseverance will eventually lead you to a home you’ll love. Don’t be daunted by losing out on bidding wars. Remain in the game.

DND House Hunting During COVID-19

Military personnel that are planning house hunting trips (HHTs) or Destination Inspection Trips (DITs) during the pandemic need to be aware of the Covid restrictions in the region they’ll be visiting and consider their safety and that of their families. Having a good Airbnb to stay at with a backyard, a full kitchen, and close proximity to grocery stores is a must if you are coming to Ottawa.

As this article is being written, Military and DND personnel travelling domestically to Ottawa and Gatineau have no need to quarantine, unless they show symptoms. Anyone travelling to Ottawa or Gatineau from outside the country must show proof of negative COVID-19 test taken no more than 72 hours before departure and will be required to be tested again upon arrival and to do a self-test 10 days into your mandatory 14-day quarantine.

Ontario operates on a colour-coded system of threat levels during the pandemic. As of Feb. 24, Ottawa is in the “Orange” level, which means most businesses are open but involves enhanced restrictions and enforcement:

  • Indoor dining at restaurants and bars is permitted. Tables are restricted to 4 people maximum, the total number of guests allowed indoors is 50, establishments must close by 10 p.m., and contact information will be collected for the purpose of contact tracing;
  • Museums can reopen for visitors;
  • Performing arts centres and venues can operate with a maximum of 50 people per venue;
  • Most public events and festivals have turned into virtual events or have been cancelled.

For the most up-to-date information, visit the Ottawa Public Health website.

Gatineau is also operating under an orange level, but Quebec restrictions may differ from those in Ontario. For the most up-to-date information, check the Gatineau website.