It’s important to understand the home buying process, so here’s a 7-step checklist. Step 1: Down PaymentThe hardest part to buying a home is saving the down payment (a gift from the Bank of Mom & Dad also works).• For purchases under $500,000 minimum down payment is 5%.• Buying between $501-999,000 you need 5% on […]
Canadian Economy Hits a Major Pothole in Q4
This morning, Stats Canada released disappointing figures showing that the economy barely grew in the final quarter of last year. Weakness in the oil sector was expected, but the downturn went well beyond the energy sector and bodes ill for a return to healthy growth this year. The country’s economy grew by just 0.1% in […]
Speculation Tax
It will be up to homeowners to apply for exemptions, with a deadline of March 31. VICTORIA — All homeowners in B.C.’s largest urban centres will need to apply for exemptions from the province’s new speculation tax or receive a bill, whether they are speculators or not, the government announced Tuesday. The Ministry of Finance […]
What’s In Store For 2019
Our own Dr. Sherry Cooper gives us her stance on how 2019 will be for Canada. At the start of every New Year, pundits posit the forecast as everyone wonders what the year will bring. While no one has a crystal ball, here are some fundamentals at play this year: 1). Canada’s economy will continue […]
A Misconception About Mortgage Financing
It is a reoccurring but common misconception that you will qualify for a mortgage in the future because you have qualified for a mortgage in the past. This is not accurate! Do. Not. Assume. Anything. Even if your financial situation has remained the same or has improved, securing mortgage financing is more difficult now than […]