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 moreSuddenly Rich? What to do Next
Most people dream of the day they won’t need to take out a second mortgage on their home to pay for renovations, or just to make ends meet. And many of us spend a lot of time thinking about how we’re going to provide for our family and loved ones in the future. Some of…
Read moreCanuck Credit Card Spending is Up
Merry Christmas! It’s here, Christmas morning is here! And while we all watch kids unwrap presents, or just spend time with our families and relax – our credit cards are doing the same thing, relaxing. After weeks, (and for some of us, months) of spending, spending, spending, credit cards are finally getting their break too….
Read moreHow to Really Save While Shopping Online for the Holidays
Canadians are trying to reduce their debt, and we’re trying to keep more in our savings too. Good for us, but the holidays are a very hard time to do either of those things. And if you’re like most Canadians, to keep on track, you’ve been keeping your ear to the ground listening for those ever-important money-saving holiday tips. There are a lot of them, but the one that comes up most often: do most of your shopping online! Yes, shopping online is definitely much more convenient, and it can save you money, as more retailers are starting to offer online-only discounts. But in order to make sure that shopping your PJ’s is really saving you money make sure to have these tips close at hand so you don’t end up taking out a second mortgage just to pay for the holidays.
Read moreHow to Wisely Use Home Equity
Home equity is a great thing and the more you have, the better off you are. When you have home equity, you are either a lot closer to paying off your mortgage, or you can use it to obtain a second mortgage. But before you go ahead with the latter, first make sure that you’re using your home equity wisely, so that you don’t pay more than you have to and so that you can still be a lot closer to paying off that mortgage!
Read moreHow to Retire Your Mortgage Before You’re 65
A Royal Bank of Canada housing study done in the past couple of weeks has everyone all in a flurry, after that report stated that the majority of Canadians will be carrying their mortgage with them into their retirement years. But just because a study says it, does that mean that’s what’s actually going to happen? Of course not, it’s simply a reminder of where we are, and what we need to do to get where we want to go. And in order to make sure that you’re not one of the majority taking your mortgage with you, here are a few things you can do to avoid it.
Read moreClosing Costs, Part 2: The Cost of Closing
In Part I of our closing cost mini-series, Recurring and Non-Recurring Costs, we looked at the two main types of closing costs – recurring, and non-recurring. We also talked about how important it is to seriously consider closing costs when talking to your mortgage broker or when looking at homes. They’re important of course, because it can add up to a lot of money, and you need to know that before you sign any papers. But just how much money does it all add up to? That’s what we’ll look at here, in Part 2 of the mini-series. Here we’ll break down all the different costs you could face, as well as their approximate dollar amount.
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