If you are a Canadian living in debt, you are not alone. According to Statistics Canada, household debt grew faster than income last year, with Canadians owing $1.83 for every dollar of household disposable income to debt(1). • Canadian households use almost 13.48% of income for debt re-payment(2). • Rising inflation and interest rates (1). • The cost of living is projected to […]
So! You think you’ve found your dream home, and you can’t wait to check it out in person. Before you go, here are a few things that are important to look out for during a home tour: Odor: Unusual smells can indicate problems, especially mold or mildew issues. Plumbing and Electrical: Check water pressure as well as electrical systems to […]
It’s difficult to find timeless advice in the ever-changing world of personal finance but these five are about as close as you can get. 1. Start small and start early with investing Only around 5% of Canadians under 25 have a TFSA, which means 95% have already missed out on 7 years of compounded returns. Starting small could be as little […]
Before you consider how much value a renovated kitchen will add to the value of your home, it’s worth asking yourself why you’re renovating in the first place. Are you hoping to sell in the near future and want to boost the sale price? Or are you planning on making changes to the space to better suit your lifestyle, and […]
While getting pre-qualified can give you a ballpark estimate on what you can afford, getting pre-approved is where the real magic happens. Mortgage pre-approval means that a lender has stated (in writing) that you do qualify for a mortgage and what amount, based on submitted documentation of your current income and credit history. A pre-approval usually specifies a term, interest […]