Making Upgrades to Sell your Home? Here are 3 to Avoid
If you’re trying to sell your home and are walking around with clipboard in hand, making a list of all the upgrades you want to make in order to help sell – stop! While making certain upgrades and repairs will help increase the value of your home, others will do the opposite and leave your home sitting on the market for months. Here are three of the most common mistakes homeowners make when upgrading their homes, and why you should avoid them.
Read moreToo Much Debt? We’re Listening!
A study conducted by CIBC last month showed that Canadians are drowing in debt – and that we’re somewhat delusional about when we’re going to pay it off. But, even though we might have higher aspirations for our future debt than what’s realistic, there’s now a new report to show that we understand the debt that we have now; and more importantly, that we’re willing to do something about it.
Read moreShould Mortgage Rules be Tightened Further?
Mortgage brokers and banking economists are at odds about whether or not Canada’s mortgage rules should be tightened once again, making it more difficult for more people to get mortgages. Mortgage brokers disagree with each other, and bankers can’t seem to agree among themselves either. But why are we even asking the question?
Read moreMake your Kitchen Look Pricey, for Cheap
It’s no secret that remodeling your kitchen will tack on lots of bucks to the resale value of your home, but you also don’t want to go broke in the process. Real estate experts agree that you shouldn’t go over $70,000 when remodeling your kitchen, and many homeowners can’t even afford to go that high. But that doesn’t mean that you’re destined to live in (and eventually try to sell) an outdated kitchen. You just have to know how to make renovations that will give your kitchen that polished look, but that can also be done for cheap.
Read moreThe Benefits of a Reverse Mortgage in Canada
As reverse mortgages become more and more popular in Canada, many are wondering what they are exactly, and if they’re a safe way to borrow. Many people also confuse these with home equity loans or second mortgages, but they work vastly different from each of these types of loans. So just what is a reverse mortgage, who’s eligible for one, and what are the benefits?
Read moreWhy do we Pay More?
While it may have taken us awhile to get there, the Canadian dollar has been soaring past the American dollar for several years. And while that means that Canadians can enjoy things like great exchange rates at their bank, we still pay the same amount, if not more, on everything from our mortgages to our magazines.
Read moreHow Much do You Need for a Down Payment?
Lots of people, especially people who don’t have a lot of extra pocket change, too often brush off the idea of ever being able to get a mortgage – because they don’t have the necessary 20% down payment. So if you find a home and can’t immediately cough up at least 20% of the purchase price, you can forget about it, right? There’s obviously no point in even trying. Well, there is actually. While it might be harder to get a mortgage without a 20% down payment, and you’ll probably end up paying more in the end, you should never deny yourself your dream home just because you don’t think you have enough cash.
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