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.

Real Estate Agent Commissions and Pay In Canada

Canada’s Mortgage Brokers or Big Banks Debate Explained

Variable, Fixed, Open, and Closed Mortgages

How to Port a Mortgage in Canada

How to Rent Your Basement Suite

Tax Deductions on Rental Property Income in Canada

How to Use the Home Buyers Plan for First-Time Canadian Homeowners

Building a Fourplex In Canada

4 Ways to Pay Your Mortgage Faster

Are Rich Dad/Poor Dad Seminars a Scam?

Buying a House with a Partner – If You’re Not Married

It turns out, buying a house with a partner - even if you’re not married - isn’t the crazy, off-the-wall idea it used to be. We can thank statistics for that: In 2011, Statistics Canada released their data about marriages in Canada, and the percentage of Canadians who...

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How To Port A Mortgage

Can I take my mortgage with me if I have an excellent fixed interest rate that I want to hand on to?  Or is it possible to use the sweet variable interest rate I negotiated as a bargaining chip when I’m selling my house – can I pass that on to the new buyer?  These...

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How to Use the Home Buyers Plan

The Canadian Home Buyers Plan is a way to borrow from your RRSP in order to come up with a down payment for your first home.  Having bought my first home recently, I found the home buyers plan information on the Canada Revenue Agency website a bit difficult to...

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Variable vs Fixed / Open vs Closed Mortgages

Buying a house and getting a mortgage can be a stressful experience – especially if you’re going through it for the first time.  With terms such as variable, fixed, closed, open, prime interest rates and many more, it can be easy to get intimidated.  Because of all...

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Mortgage Broker or Big Bank- Who to Choose?

You’re lookin’ to buy a place but don’t know whether to go with a Canadian mortgage broker or with a big bank, and you want to get the best mortgage rate & best deal possible (of course, what fool wouldn’t?). Or maybe you’re already in the place of your dreams and...

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Real Estate Agent Commissions – Decoded!

One of my good friends bought her first condominium through an online mortgage broker a few years ago when she was 26.  I remember her telling us the details over dinner one night - we were so excited for her!  I mean this whole adulating thing is a pretty big deal...

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The Face of Vancouver Real Estate

As a native Vancouverite I have seen this city change the most since 2010 when we hosted the Olympics and since the Canada Line (rapid transit) came about. The city is changing even more in the past year or two. Houses are being torn down and made into condos and...

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Rent Versus Sell Condo: The Low Down

We've heard of renting versus buying calculators (such as the one from the Ontario Securities Commission Get Smarter About Money) but have we thought about renting versus selling your home (e.g. condo).  I have always liked the idea of being a landlord (my dad has a...

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How My Dad Owned a Home Without Ever Having a Mortgage

My Dad has never made a mortgage payment in his life, yet owned his own home by the time he was 30. He only received a very minor inheritance when he was over 60, so that didn’t factor into it. No one gifted him a down payment. He didn’t get lucky on a stock pick,...

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