Category

First Time Home Buyers
Published: • Traditional Home Now A Luxury; Condos Are Where Most Start A few years ago, mortgage insurers and lenders began to really toughen up their lending guidelines for condos – convinced this particular segment was overheated and over built, and headed for a huge correction. Mortgage brokers and their clients increasingly turned to private...
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There is a lot more to choosing your mortgage than simply hammering your banker into submission and nailing the lowest interest rate possible. Sorry to rain on your parade folks, but would you choose the cheapest new home on the market, regardless of where it was located? Of course not! Today’s post focuses on the...
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How can young people afford to buy homes these days? They can’t. Today I want to vent about a few societal problems developing as a result of high real estate prices. Home ownership is so expensive these days – seems like every time you take a second look at a property, it is way more...
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Published: • Reader Asks: “What’s the Right Choice? Pay Down Student Debt, Or Save Down Payment For Investment Property?” Today’s question comes from Alison in Mississauga: “Hi Ross I currently have a $50, 000 CAD student loan which I must now start paying off. I have a short term work contract, making a $70,000 a...
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Should you buy your first home or pay off your student debt? This is part two of the response to a question from Alison, who wanted to know if she should first pay off her student loans before saving for a house. You can read part one here. Hi Alison, I like the idea of...
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Published: • Stress of Bidding Wars Drives Homebuyers to Abandon Safety of Financing Condition Multi-offer situations (bidding wars) typically rear their ugly head in a heated market, when a desirable home in a good neighbourhood is deliberately listed at a lower-than-market-value price. This can lead to realtors rushing their buying clients to the house to...
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Published: • For those who want to buy a home with no down payment From time to time I meet people who are anxious to buy a home, but have no down payment saved up. They are frustrated being on the sidelines and watching everyone else grow their home equity. So, with all the recent...
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We Bought A New House – When Do We Get The Keys? Dear Ross, we are buying our first home next month, and we want to move in to our new house as early in the day as possible. But our realtor tells us we will have to wait till late in the afternoon. Why...
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Want to pay your mortgage down faster? You can, but here’s what you need to know Dear Ross, we have a quick question about paying back the mortgage. I know for a closed mortgage you’re penalized if you pay it back before the end of the term, but I know there is a certain allowable...
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