According to a BMO 2015 home-buying report, the average Canadian expects to pay off their mortgage by age 59 — but 31 per cent think they’ll still have a mortgage by their 65th birthday. Looking to ditch your debt quicker — without over-extending your budget? It may save you hundreds (if not thousands) in the long run.
Thank goodness for the Internet and social media! All the properties on sale are right there, on the screen. What a great way to save time! However, you will quickly realize that, even though you are using keywords, the choices are countless. You cannot sort them all. With or without the Internet, you will need to structure your property search.
The first question you need to ask yourself, and this will become your prime selection criteria, is the following: Why do you want to buy a property? The answer might seem obvious, but it is an illusion. Several reasons push you to look for a new property. For some of you, those reasons are essential, and for others they are secondary. We have already written on this subject. We encourage you to read the following article.
Christmas is fast approaching. According to the Judeo-Christian tradition, Jesus Christ was born on a bale of straw. Who would have thought in those times that such an ordinary material would become, 2,000 years later, an ecological product making its humble contribution to the planet’s survival?
Straw is abundant in Québec. The needs for transportation are almost nonexistent. This is an important ecological asset when we all know that transportation is the culprit of accelerated global warming; the one thing that the governments cannot control; the reason that pushes people to the brink, year after year.
Why is it, as the cold winter months and strong winds come near, many people imagine themselves wrapped up in a blanket next to a crackling fireplace in a typical Canadian home nestled in the forest? Because it provides warmth and simple pleasures, of course. The rustic style is so beautiful!
In the olden days, almost every home had a rustic decor. However, in the early 1900s, new materials arrived and won over consumers, like pre-finished panels, concrete, vinyl, steel, melamine and aluminum. Using these materials meant being fashionable; especially in urban areas. But, the rustic style survived.
Financing the renovations for your house, condo or cottage is crucial before you can give your project the green light. Here are some ways to finance your home improvement projects.
Whether you want to update your kitchen, expand your bathroom or refresh your basement, home improvements are costly and you have to plan for them.
Louis-François Ethier, Mortgage Director with National Bank, hones in on the best strategies to adopt before applying for a loan for a renovation project: “There are two key options that homeowners should consider: Mortgage financing and a personal line of credit.”
You first need to determine where you’re at and what your current and future needs are, says Desjardins financial planner Angela Iermieri: “People who are close to retirement, especially empty-nesters, often realize they’d be better off to optimize their living space.”
As a general rule, smaller costs less. Less taxes, less maintenance, less overhead. And let’s not forget the potential gains from the sale.
“Keeping your home provides great economic leverage, as your home continues to appreciate in value. However, some people have always considered this asset as capital that would serve them well in retirement, and others sometimes reach retirement with a level of debt that’s higher than their forecasts. Selling a home becomes a necessary source of income.”[……]