Real Estate, Houses, and Mortgages
The Biggest Purchase You’ll Ever Make
Raise your hand if you’ve heard the phrase, “My home is the best investment I ever made.”
Now either you managed to buy a home twenty years ago in the historically ridiculous markets of Vancouver or Toronto – or you just aren’t very good at investing.
Understanding how to buy a home and how to invest in real estate are two different sides of the same coin. While I prefer to invest in more liquid assets for the time being, there is little doubt that there is money to be made as a landlord. And just because homes shouldn’t be classified as investments, doesn’t mean that they are irrelevant to personal finance – far from it. In fact, it’s my opinion that it’s on this issue many Canadians cripple their personal finance plans before they even get started.
You know what is a really quick way to make sure you don’t pay yourself 10%? To pay the bank over 40% of your pay each month for your mortgage and then wonder how you can afford to buy a coffee pot to put on those gorgeous marble counter tops you had to have.
We’ll let you know the ins and outs of getting a mortgage in Canada, some tips and tricks for buying and selling home, as well as our dabbling in real estate investment.
Don't worry readers, I didn't end up buying U.S. real estate, but admittedly I was very tempted and enchanted by the idea that I ended up doing a bit of research to see how one goes about buying U.S. Real Estate. In the end I thought that it seemed a bit too...read more
With my new zest to pay my mortgage down faster it made sense to do a little research in regards to the maximum allowed payments I could make on my mortgage without having to pay a mortgage penalty. First of all, if you have an open mortgage (meaning you can pay down...read more
I never thought I would say this because initially when I bought my condo I thought I would use the mortgage interest to offset my work at home income or to offset future rental income when I end up renting out my condo to save on income taxes. However, a couple...read more
Our mortgages (if you have one) are by far the largest investment that you will make in your lifetime. At the ripe old age of 31 (I kid, I kid) Sean Cooper will be mortgage free, according to an article in the Financial Post recently. He lives in Toronto and owns a...read more
If I have to listen to one more Canadian tell me that their home is, “The best investment I ever made,” I may lose my mi… well, let’s not be hyperbolic – I’ll probably just continue to internally shake my head at this statement. Yes, in this age of ever-escalating...read more
Although most financial experts agree that you want to pay off your mortgage as soon as possible, there are some instances in which it makes sense not to pay off that mortgage debt as humanly possible. Mortgage debt isn't necessarily bad debt even though it is...read more
If the HGTV-driven acronym DIY can apply to building a deck or renovating your kitchen, IntelliMortgage’s Rob McLister and Deon Yu believe that surely the same principles can be applied to setting up your own mortgage. A DIY mortgage is essentially a strategy for...read more
A few years ago, when I made my first home purchase, I was inundated with recommendations on who to use for my potential mortgage. It was overwhelming to say the least. On the internet, I could see a lot of recommendations to go with the mortgage broker because you...read more
Not that I've had a plethora of tenant experiences to choose from... but I do have a few experiences where I am able to compare and contrast and see what a good tenant looks like. If you are renting out your basement you really want to make sure you find a good...read more
One of the things that I really like about our website here at Y & T is that you get a variety of perspectives and thoughts from a few different professionals who all know their stuff. Now knowing your stuff doesn’t always mean that everyone is going to agree on...read more