With the continued rise of inflation, interest rates and the overall cost of living, the uncertainty can be unnerving for many individuals. But don’t fret! We have some tips and suggestions to help you manage your financial stress and help you to power through these latest economic changes: Prioritize What You Can Control: It can [...]
Your mortgage amortization period is the number of years it will take you to pay off your mortgage. Depending on your choice of amortization period, it will affect how quickly you become mortgage-free as well as how much interest you pay over the lifetime of your mortgage (a longer lifetime equals more interest, whereas [...]
We Canadians are no strangers to the chill of the winter season! As we shift into the final few months of 2023, now is a great time to check your home before the cold front hits. Below I have included a few tips that could help you save on bills, prevent future repair costs, [...]
Whether you’re jetting off to sunshine and warm sand, an international adventure, or a weekend getaway, before you go there are a few things you can do to protect your home while you’re away! Unplug all electronics and appliances: To reduce energy costs while you are traveling (and mitigate any risk of unexpected fires), it [...]
A July 7 report from Statistics Canada on the financial state of Canadians says that, “Middle-income earners were affected most by inflationary pressures over the last year, as they spent an average of $1,306 more than they earned in income in the first quarter of 2023, while they had positive net saving of $521 in the [...]
Many Canadians consider downsizing during their retirement years. Once their children have left the nest, the choice seems obvious: relocate to a smaller residence or a more affordable town and capitalize on the price difference. For many retirees, the funds from the sale of their home can significantly impact their overall lifestyle and financial [...]
As adults, we all know the critical importance of managing money wisely and the impact our financial situation has on our overall well-being. As parents we do our best, but there are plenty of life lessons we need to teach our kids, and personal finance doesn’t always top the list. We may also not [...]
When it comes to getting a mortgage, one of the more overlooked elements is the option to be able to port the loan down the line. Porting your mortgage is an option within your mortgage agreement, which enables you to move to another property without having to lose your existing interest rate, mortgage balance [...]
Your payment schedule is the frequency that you make mortgage payments and ranges from monthly to bi-monthly, bi-weekly, accelerated bi-weekly or even weekly payments. Below is a quick overview of what each of these payment frequencies mean: Monthly Payments: A monthly payment is simply a single large payment, paid once per month; this [...]
Now that you have finished signing your mortgage paperwork and getting the keys to your first home, there are a few things to keep in mind after you buy to protect your investment and ensure future financial success! Maintaining your home and protecting your investment: Becoming a homeowner is a major responsibility. It’s up to [...]
