Five 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 moreWhat do You Think of an “Asian-Looking” Woman on Our Money?
The Bank of Canada just can’t win. They try so hard to be politically correct and yet, they end up getting burned no matter what they do. The BoC debate is surrounding the $100 bill that went into circulation last November – but that’s not when the debate began. That time came last week, when…
Read moreThe Debate Over a Few Toronto Mortgages
With all the debate over Toronto condos that’s been going on for the last several months, there are a few units in particular that are causing a huge stir in the city. The concern over these units is not that they’re overpriced or that they’re contributing to an already overheated market. Nope. The worry with…
Read moreThe One Type of Housing Hard to Find in Toronto
There might continue to be talk about too much stock on the Toronto housing market, but there’s one area of Toronto housing that is seeing a shortage – that’s social housing. This comes from researchers at the Ontario Non-Profit Housing Association, who have just released a report (view the full version here) saying that there…
Read moreAll Aspects of Calgary Housing Market are Up!
Calgary home sales, home prices, and home starts are all up – and going up! And while many might say that rising home prices are bad news for the economy, in fact it’s just the opposite. The good news is just that – good news! The chart below shows just how good that news is….
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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