What is a REIT?
So often on this blog we talk about investing in real estate. But most of that time, we’re referring to taking out a second mortgage for an investment property, or taking part in the elusive “flipping” of properties that is just now becoming popular in Canadian real estate. But if you’re not interested in doing…
Read moreShould You Borrow to Invest?
Borrowing to invest is a strategy that many investment professionals often tout. But, is it a really good idea? And should you put your home on the line so that you can invest, and maybe get tenfold the money back? When talking about borrowing to invest, you first need to look at what you’re borrowing…
Read moreYou’ve Paid Off Your Mortgage! What Comes Next?
So many people wait and wait for that blessed day when they make their last mortgage payment and own their home free and clear. The average monthly Canada mortgage payment is about $1,500 – that’s a large chunk of change that’s left over each and every month when it’s all paid off! But, what do…
Read moreBecoming a Landlord in Ontario, Canada
So often we talk about people buying properties and obtaining mortgages so that they can move into their dream home. But what about those mortgages we take on (or want to take on) for those houses we don’t want to live in? Ah yes, it’s the envied rental property! With interest rates so low, and the stock market being somewhat shaky at the moment, investment property does seem to be the smart place to put your money. But hold up. Before you start signing new mortgage papers and interviewing tenants, you need to know a few things.
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 But that doesn’t mean that you’re destined to live in (and eventually try to sell) an outdated kitchen.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 moreHomeowners Prefer Renovating Bathrooms and Kitchens
A new BMO poll found that most Canadian homeowners (83 percent) will make renovations to their home over the next two years. The most interesting finding is that homeowners are shrewd investors who understand very well which renovations will add value to their home and which will be wasted money (at least from a value…
Read moreTapping Into Home Equity to Deal With Credit Card Debt
A Statistics Canada report released on Monday presents some startling facts about the level of household debt that we as Canadians have taken on. In total, household debt among Canadians has reached $1.5 trillion. This equates to $176,461 for each two-child household. While we have long taken pride in being more fiscally responsible than Americans,…
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