Posts Tagged ‘Real Estate’

Q. I will be making my final mortgage payment in a couple of months. What happens next? Congratulations for achieving this big financial milestone. You’re about to own your home free and clear of any debt and, with the increase in your cash flow, you will improve your financial condition. Once that final mortgage payment…

Allow me to riff on the housing market and how recent changes to mortgage rules will affect Canadian homebuyers. To recap, the feds stepped in and introduced a mortgage rate stress test for fixed term mortgages of five years or more. The stress test, which already existed for variable and 1-4 year fixed terms, stated…

Our mortgage came up for renewal this month and, even though interest rates remain historically low, I knew we’d have to renew at a higher rate than our current 1.90 percent variable rate mortgage. Last week I met with an advisor at TD, where our mortgage is held, to see what options were available. I…

Buying a home will probably be the most expensive one-time purchase you’ll ever make. It can also be one of your best investments (housing values have historically increased over the long run) as long as you choose wisely and pick a house you can afford. Saving for a down payment How much money do you…

When central and southern Alberta experienced catastrophic flooding in June 2013 there were 32 states of emergency declared and over 100,000 people displaced throughout the region. Reports of price gouging at various retailers surfaced on social media; one story in particular claimed that an unscrupulous Calgary retailer was selling individual bags of ice for $20. Given the urgency…

From the questions we are receiving, it seems that some of our readers are on the move. They want to get the best bang for their buck when selling their residences. Q. Which home improvements have the highest return on resale value? Q. We are in the process of selling our “starter” house and moving…

When it comes to buying a home or renewing a mortgage term, many financial experts recommend using a mortgage broker to help find the best mortgage rate and terms. The reason is that mortgage brokers work for you – not the bank (even though they’re paid by the lender and not the client) – and can leverage…

No generation has had a tougher time getting into the housing market than Generation Y. Indeed, the deck is stacked against Millennials, many of whom are burdened with crushing student debt loads, grim job prospects, and limited wage growth in a stagnant economy. Furthermore, the federal government cracked down on 40-and-35-year amortization mortgages, mostly to…

Purchasing a home is one of the fundamental desires of most people. It will likely be the biggest purchase you will make in your lifetime. However, our homes are more than just financial assets and they are more than just places to live. Our homes are personal. They are integral parts of how we see…

A discussion on Rob Carrick’s Facebook page today started with a question about debt – how big a priority is it for you to reduce debt? Top priority Important, but not my main financial goal I’m chugging away at debt repayment, and that’s fine No debt I answered (2): We put any extra money toward…