Iain It is time to consider life insurance when you take on a large financial liability that requires an ongoing need for protection. This can be a combination of buying a home, being married, having children, taking on substantial consumer debt, or owning a business. Here are some steps to follow when you are considering buying … Read more
Talking about ones own demise is never easy or fun, but it is essential. When protecting your family from unexpected loss the mortgage can take the center stage. You can’t have loved ones wondering if they can afford the family house or not. Life and mortgage insurance seem similar, but when you dig deeper they show their true … Read more
When shopping for a mortgage a lot of first-time homebuyers make the mistake of only looking for the lowest mortgage rate. Although your mortgage rate is very important, pre-payment privileges can be just as important, especially if you plan to pay off your mortgage a lot sooner. Homebuyers have the choice between two types … Read more
Two of the most costly closing costs for homebuyers are home inspections and legal fees. Although most homebuyers know the importance of a home inspection, it’s important not to overlook the crucial role your real estate lawyer plays. Buying a home is a big investment – you’ll want to make sure your best legal interests … Read more
When you’re shopping for a mortgage, probably the last thing on your mind is mortgage penalties. If you’re a savvy homebuyer you’ll look for the lowest mortgage rate with a broker. While most closed mortgages offer some prepayment privileges (i.e. increase your payment or make lump sum payments), you’ll be hit with a huge penalty if you pay off your entire mortgage early. Before you sign on the dotted line, it’s important to understand your lender’s mortgage penalties – once you’ve signed it’s too late and you’re at the mercy of your lender.
[color-box] Next week we will be publishing a complete, straight forward guide on choosing life insurance. It will be completely transparent and will remove a lot of the confusion surrounding life insurance.[/color-box] Talking about ones own demise is never easy or fun, but it is essential. When protecting your family from unexpected loss the mortgage can … Read more
The once red hot real estate market has had some air let out of its balloon. Last year the federal government tightened mortgage rules, capping the maximum mortgage amortization at 25 years for high ratio mortgages (buyers with less than a 20 per cent down payment) to avoid a major housing correction. Vancouver has been … Read more
Buying a property in B.C. just got a lot less expensive. Starting April 1, 2013, the 12 per cent Harmonized Sales Tax (HST) is being replaced by the 5 per cent federal GST and the 7 per cent B.C. PST. Although homebuyers of newly-constructed houses will save the most, even homebuyers of resale homes will save … Read more
In hot real estate markets like Vancouver, a recent trend has been for homebuyers to skip home inspections. If you’re been searching for a home for months and you find your dream home, you might consider ditching the home inspection, especially if you’re in a multiple offer situation. While a home inspection can lose you … Read more
For many first-time homebuyers saving for a down payment can be challenging. You may have saved the minimum 5 per cent down payment, but have you set enough money aside for closing costs? First-time homebuyers often make the mistake of not budgeting for closing costs. Closings costs can easily amount to over $10,000 in Canada’s … Read more
