Real Estate
Are You Cut Out To Be A Landlord?
Buying an investment property is a popular option for many Canadians looking for different ways to invest their money. Rental properties can provide you with steady monthly income and could appreciate in value over the years. But are you cut out to be a landlord? Finding the right property Finding the right property as an…
Read MoreZero Down Mortgages: The Last Gasp From A Housing Bubble Ready To Pop?
Since the 2008 financial crisis Canada’s federal government has taken several steps to cool the nation’s housing market; namely reducing the short-lived 40-year mortgages to today’s 25-year amortization period, and eliminating zero down mortgages to require homebuyers put down a minimum five percent. These measures didn’t do much to slow down a rapidly rising real estate market, particularly in…
Read MoreRenewing Your Mortgage This Year?
Our mortgage is up for renewal later this year. That’s a shame because I’m enjoying the ultra-low 1.90 percent interest rate on our five-year variable mortgage (prime minus 0.80 percent). It’s a near certainty that I’ll have to renew at a higher rate this summer. My bank is offering five-year variable rates at prime minus…
Read MoreMortgage Brokers Gone Bad
When it comes to buying a home or renewing a mortgage term, many financial experts recommend using a mortgage broker to help find the best mortgage rate and terms. The reason is that mortgage brokers work for you – not the bank (even though they’re paid by the lender and not the client) – and can leverage…
Read MoreHow First-Time Home Buyers Are Getting Into The Market
No generation has had a tougher time getting into the housing market than Generation Y. Indeed, the deck is stacked against Millennials, many of whom are burdened with crushing student debt loads, grim job prospects, and limited wage growth in a stagnant economy. Furthermore, the federal government cracked down on 40-and-35-year amortization mortgages, mostly to…
Read MoreThe Real Cost Of Buying Your Home
Purchasing a home is one of the fundamental desires of most people. It will likely be the biggest purchase you will make in your lifetime. However, our homes are more than just financial assets and they are more than just places to live. Our homes are personal. They are integral parts of how we see…
Read MoreHome Buyer’s Regret?
A discussion on Rob Carrick’s Facebook page today started with a question about debt – how big a priority is it for you to reduce debt? Top priority Important, but not my main financial goal I’m chugging away at debt repayment, and that’s fine No debt I answered (2): We put any extra money toward…
Read MoreImprove Your Home With Good Landscaping
When the weather starts warming up in the spring my thoughts turn to spending more time outdoors. Those of you who own a house can increase your living space and activities with good landscaping. Our homes are probably the most important financial investments we’ll ever make. While we often spend time and money upgrading appliances,…
Read MoreWhen Stretching To Buy A Home Makes Financial Sense
The real estate market in Canada has been the subject of much opinion and speculation over the last five years as prices continue to rise to new heights. Houses are over-priced, but by how much? Should prospective buyers wait for a crash before jumping into the market, or should they get in now before they’re…
Read MoreOur Shocking Basement Renovation Bill
For the past year we’ve been slowly finishing the basement in our now three-year-old home. At first we decided to take the pay-as-you-go approach and so we hired a contractor to frame the basement last July. But six months later our project hadn’t progressed at all – it was difficult to line someone up to just do one stage at a…
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