Taking a closer look at capital gains tax Image

Taking a closer look at capital gains tax

Since October, subtle changes to the Principal Residence Tax Exemption (PRE) have meant that Canadian sellers and buyers must disclose transactions on their principal residences to the government. Somehow I missed until recently that the administration

Read More
Perform post-holiday CPR on your savings account Image

Perform post-holiday CPR on your savings account

No matter what you celebrated last month, the holidays are notorious for mercilessly squandering savings. After all, it’s hard to stay on budget when you’re faced with parties, potlucks and pricey gift exchanges, all packed into two weeks. Now that the

Read More
CMHC increasing mortgage insurance premiums Image

CMHC increasing mortgage insurance premiums

The Canada Mortgage and Housing Corporation (CMHC) just announced that it is increasing its mortgage loan insurance premiums, effective March 17, 2017. Don’t worry, it shouldn’t affect your ability to afford a home.  Mortgage loan insurance is necessary

Read More
Don’t buy a fixer-upper until you ask yourself these questions Image

Don’t buy a fixer-upper until you ask yourself these questions

Fixer-uppers are not for the faint of heart. As Toronto’s housing market continues to evolve, some ambitious buyers are attempting to transform undesirable dwellings into dream homes. But unfortunately, renovating a fixer-upper can be a long and

Read More
How are homeownership and unemployment connected? Image

How are homeownership and unemployment connected?

Evan Siddall, chief executive of Canada Mortgage and Housing Corporation (CMHC), told a Bank of England audience last week that we should be thinking about raising down payment requirements for insurance-backed loans. Since 1998, the Canadian government

Read More
5 questions move-up buyers need to ask themselves Image

5 questions move-up buyers need to ask themselves

With the rising price of housing in the Greater Toronto Area (GTA) and surrounding areas and the recent mortgage rule changes, first-time buyers aren’t the only ones struggling. The average price of a new low-rise home in the GTA is nearly $1 million, so

Read More
Attempting to understand the new mortgage rules Image

Attempting to understand the new mortgage rules

As new mortgage rules take effect this week that make stress-testing mandatory for all insured mortgages, I’m left scratching my head. The new rule requires a stress-test for all insured mortgages, i.e. it will affect any prospective buyer with less than

Read More
Buying your first home will cost more than you think Image

Buying your first home will cost more than you think

If you’re buying your first home, you’re probably focusing on saving enough money for the downpayment. That’s a great start, but you should know that there are many other fees and expenses that come with buying a home.Depending on who you ask, it is

Read More
What does the new mortgage rule mean for first-time buyers? Image

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

Read More
These tips will help you stick to your monthly budget Image

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

Read More

Sign-up for our Newsletter