A condominium can be the first step for many Canadians looking to own property. Whether it’s a place to live or a savvy investment – or both – purchasers need to understand that buying a condo comes with its own unique considerations:
Status Certificate: This document should be a condition in any agreement to purchase. It includes
Cash. Refinancing. Credit cards…no, avoid credit cards. Banks want to know how you finance a renovation project. After all they are poised to make money or lose money from your renovation activity. Bank of Montreal did a survey on the…
At least one green home enthusiast stops a project to install solar panels. Why? Do you remember the story about someone in southern Ontario trying to jump through provincial regulations, licensing and bureaucratic hoops to install solar panels on his…
Will gold preserve your wealth in the face of global catastrophe? Have you noticed the meteoric rise of the price of gold lately? It hit $1900! Some gold bugs were saying “Wait, gold will go to $3,000″. The more logically…
Are real estate agents selfish individuals who look after their own interest? Let me start with this – I have several friends, who are real estate agents. Some of them have been professionals in other areas like engineering or economics…
But things are starting to change We are very different from our neighbors south of the border. At least when it comes to mortgage preferences. Canadians would rarely think of signing on a mortgage with longer than 5-year term. Of…
In some markets it declines It’s like a game – those selling their homes think along the line of “I will ask for $299,000, but will sell if they offer $285,000”. Buyers on the other side rarely offer the asking…
Not anytime soon What a surprise was the news from the US that prime lending rate will not budge until the middle of 2013. No matter how you count it, it means another two years of near zero interest rates…
It is serious. Don’t underestimate the situation… Just reading the headlines on the financial web sites today can cause a headache. It took only two days to erase 10% of financial gains accumulated over many months. Those who watch stock…
Main street media finally starts paying attention Several of my clients this year admitted they have been planning to get a mortgage from their bank, but changed their mind quickly when heard about the collateral mortgage. Most mortgage brokers know…