2018 has been a great year so far and it started out with our appearance in a commercial for TD. The commercial shows different couples taking a look at their retirement "readiness". Got us thinking about how many of you are thinking about your retirement plan? What's funny is that Rachel and I don’t agree [...]
Generally speaking, you should always consider legal, tax, business and cultural issues when entering into a joint venture. These may take the form of different legal structures and the implications could be significant depending on your financial situation. If nothing else, be sure to consult your legal counsel to determine how this venture could impact [...]
Home prices in Canada’s largest city posted their biggest monthly drop in at least 17 years in July and sales plunged as government efforts to cool the market and the near-collapse of a mortgage lender made buyers leery. The benchmark property price, which tracks a typical property over time, dropped 4.6 per cent to $773,000 [...]
New Investors Unprepared for Buying Process It is a cardinal sin for investors not to be prepared or knowledgeable about the home buying process, but new figures point out that a third (32 per cent) of first-time investors admit to just that. The survey, published by the Real Estate Council of Ontario (RECO), also found [...]
Tips to Buy Your First Investment Property Looking to invest in real estate? Not sure where to start? It can be an intimidating venture for sure, so much to learn, read, review. We have seen more than one newbie real estate investor get discouraged and overwhelmed by the process that they quit before they even [...]
Government Intervention Needed to Slow Toronto House Prices? TORONTO — Further government intervention will be needed if Toronto house prices continue soaring after the spring homebuying season, the head of Canadian banking at Scotiabank said Tuesday. James O'Sullivan said the Toronto housing market is one that policy-makers should be most concerned about these days, given [...]
Canada's first-time home buyers may have to shelve their dream house fantasies due to new lending rules announced last week by the federal government. The Government of Canada's finance minister has implemented new measures for those with less than a 20% down payment. Effective October 17, 2016, all five year fixed rates (with less than 20% down) [...]
Canadian Real Estate Market The good times will continue to roll on for investors in Toronto and Vancouver – whether you’re a landlord or a flipper. “High demand and low supply continued to characterize Vancouver's and Toronto's housing markets throughout 2015 as competition from buyers over the limited inventory of single-family homes pushed prices higher,” [...]
In a previous post I talked about the basics of mortgage debt ratios—the calculations lenders use to determine if you qualify for a mortgage. This prompted this reader question: Q: If I own a rental property, which debt ratio do you add the rental property mortgage payment, rental income, taxes and heat to? —Bob A: While the [...]
How the TDS and GDS are Calcultated Typically, mortgage lenders use the “Five C” rule when analyzing someone’s ability to afford a mortgage: 1) Capacity to repay (your income) 2) Current economic conditions (your profession’s current economic status as well as your city and country’s economic situation) 3) Capital put down (the down payment you [...]
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