What does the new mortgage rule mean for first-time buyers?
On October 17, 2016, most first-time buyers will have less borrowing power when it comes to being approved for a mortgage. Whenever less than 20% is put down on a home, the mortgage needs to be insured. The new rule states that every insured mortgage
These tips will help you stick to your monthly budget
With the price of housing steadily on the rise with no signs of slowing down, it seems more important than ever to stick to your monthly budget. Whether you’re saving for your first home, paying off a mortgage, or content renting, the high cost of living
A few quick pointers regarding your new home warranty
As reported in April, Urbancorp Group, a decades-old property developer in the GTA, filed for bankruptcy in the spring, with about a thousand homes under construction as of late 2015. With that in mind, I’m listing a few quick pointers regarding your new
6 creative ways to start saving for the down payment on your first home
A recent study found that almost two-thirds of millennials expect to own their first home in Toronto. With the city’s average purchase price nearing half a million dollars, owning a home is no easy feat. Nonetheless, young aspiring first-time homebuyers
Will 300,000 Canadians soon have more debt than assets?
This week, the Canadian Centre for Policy Alternatives released a study by senior economist David Macdonald that says a home price decline of 20% would leave 169,000 families under 40 in a negative-equity position, with more debt than assets. “Declines
7 common pitfalls in real estate investment
By Patricia EvansWith condo buildings rising left and right, it’s tempting to think that investing in real estate is a no-fail affair. The real estate industry is certainly profitable but just like any other market, investment conditions can become
Do We Need More Changes to the Mortgage Rules?
The Financial Post last month reported that our representatives in Ottawa were considering increasing the amount of down payment required to obtain a mortgage, citing sources that claimed further measures to cool the house market, including restrictions
Maximizing Your Real Estate Investment
As the economy grows stagnant and job creation seems to become a breakeven proposition, more and more people are looking toward their investments to either get them through those tough economic times or to plan for early retirement.One such avenue of
The Cost of Selling Your Home
First-time home sellers might be excited at the prospect of selling their home to make a profit, as they should be, but don’t forget about the costs attributed with selling your home!Property costsBefore closing the sale, the home seller will be held
What Time of the Year Should I List My Home?
As all industry experts know, selling a home is influenced by many different factors that can be manipulated in order to maximize profits in the shortest time period possible. Finding the right realtor to sell your home is the first step, but choosing
