Imagine that, a few years from now, the time has come to renew your mortgage. Several years back, you got a $350,000 at the then great rate of 2.24%. Your mortgage payments are $1522 per month. Because we are now in what the financial brainboxes call “ an escalating rate environment “ – normal people […]

Just because you are a Canadian citizen living abroad doesn’t mean that you are exempt from the rules for foreigners buying real estate in Canada. Foreign ownership applies if: • You don’t reside in Canada for more than 6 months a year (even if you are Canadian) • You don’t report your working income to […]

What prevents many potential homeowners from buying a home is the lack of a down payment. Many first-time home buyers are receiving down payment gifts from family. Unfortunately, many are not in this position and need to plan to save their own down payment. When you can visualize the benefits of owning your own home […]

For many people, saving enough for a down payment on a house is not an easy task. (You can’t rely on finding One-Eyed Willy’s treasure like they did in the Goonies movie, either!) Once you have an idea as to how much you can afford on your home, relative to your salary and monthly costs, […]

Mark John Chandler claimed “to be one of the biggest real estate developers in Canada” when he reached out to a New York money lender in 2011, according to court filings. Now, the Vancouver developer faces the prospect of being shipped to the U.S. to face charges in an alleged “fraudulent scheme” involving Los Angeles real […]

In the midst of the booming real estate market in Canada (mainly in Vancouver and Toronto), many Canadians are entertaining the idea of downsizing in order to sell their homes at a high value and purchase a smaller home or condo at a lower price. Is downsizing the way to go? What are the costs […]

Home sales increased in the Fraser Valley last month compared to July but remained lower than a year ago. Townhomes and apartments took the lion’s share of home sales (54%) with 1,018 of the 1,879 total sales in August. Total sales were up 10.9% month-over-month but down 3% year-over-year. “It’s not surprising to see demand […]

Sometimes it is a good idea to revisit the basics when looking at a complex thing like a mortgage.  There can be misunderstandings which crop up.   The mortgage process can be very stressful as you wait for some anonymous entity to decide whether or not you are able to buy the home of your dreams.  […]

Do successful entrepreneurs just open their doors for business without a business plan? Does a chef open a restaurant without a menu? Do pilots depart the hanger without a flight plan? Can you build a house without architectural plans?…I could go on forever! The answer is NO to all the above. I’m a planner. Whether it’s […]

The state of the nation’s finances continues to produce some worrying stats and the latest report from the Canadian Payroll Association reveals how fragile some households are. Its latest survey reveals that 47% of Canadians would struggle if they were paid just one week late. It’s even worse for millennials (55%) and those in their […]