The Benefits of Owning a Home
Yes, the price of homes in Toronto is still high, despite the changes made to mortgages in Ottawa. And yes, unless it’s condos you’re looking at, supply has become limited. This, along with fears that interest rates are going to rise in the next several years while those same home values decrease, all add up…
Read moreNot all Boomers Downsize
The thought that Baby Boomers get older, sell their big family home, and move into something smaller such as a condo is one that many of us assume will happen automatically. And while it does make sense for Boomers to downsize, and even though some really want to, others simply don’t. Some Boomers love living…
Read moreThings to Consider when Buying a Fixer-Upper
As we talked about earlier today, buying a fixer-upper can be a real opportunity, but it can also be a money pit. Not to mention relationship-destroyer, and time-gobbler. So, how do you know when you’re looking at opportunity and not DIY disaster? First, you need to determine whether or not you can really afford to…
Read moreDemographics to Help Keep Housing Market Afloat
While many economists are predicting a 10 – 15 per cent drop in housing prices over the next several years, Benjamin Tal at CIBC says that it’s the demographics of our country that’s going to keep our housing market afloat. Mr. Tal isn’t the first to bring up demographics in our country in regards to…
Read moreFive Way to Save up for a Down Payment
In our last post we talked about how saving up for a 20 per cent down payment on a $295,000 home would mean saving up $59,000 – just for the down payment. Not surprisingly, that’s far out of many homebuyers’ reach – especially first-time homebuyers. The problem is that the rate of return on savings…
Read moreThe Down Payment Dilemma
Save up for a down payment on your home that’s at least 10 per cent of the home’s value. That’s the standard first piece of advice given to anyone that wants to buy a home. And it makes sense. The more of a down payment you have, the lower your overall loan amount will be,…
Read moreHow Much Extra Money should you Calculate into your Mortgage Payment?
When you buy a home, you know how much your mortgage is going to be. You know what you bought the home for, you know how much of a down payment you have and so, the amount of your mortgage really shouldn’t be an area of regret. It’s not surprising then, that a recent survey…
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