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Showing posts from February, 2017

Are you a first-time home buyer?

You are considered a first-time home buyer if, in thefour year period, you did not occupy a home that you or your currentspouseorcommon-law partnerowned. Notes Even if you or your spouse or common-law partner has previously owned a home, you may still be considered a first-time home buyer. If you have a spouse or common-law partner, it is possible that only one of you is a first-time home buyer The four-year period Begins on January 1st of the fourth year before the year you withdraw funds. Ends 31 days before the date you withdraw the funds. For example, if you withdraw funds on March 31, 2017, the four-year period begins on January 1, 2013 and ends on February 28, 2017.
Can you participate in the HBP later?If you are not considered a first-time buyer now, you may be considered a first-time home buyer later, once the four-year period has passed.
For example, if in 2011 you sold the home you lived in before, you may be able to participate in 2016. Or if you sold the home in 2012, you may …

CMHC releases updated road map to homeownership

February 28, 2017
by via CMHC News Releases — All Releases

Improvements to seniors lodges in rural Alberta underway

February 27, 2017
by via CMHC News Releases — All Releases

The cost of moving is high

It takes a huge investment to make the jump to a larger property or a more coveted location.  There are commissions and legal fees to pay. Land-transfer taxes are levied by the province and the City of Toronto.

Improvements to seniors and community housing coming to Medicine Hat

February 24, 2017
by via CMHC News Releases — All Releases

New shelters in five First Nations communities

February 20, 2017
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多伦多上调市级土地转让税

本周三(2月15日),多伦多市议会通过了市一级的土地转让税(Land Transfer Tax)新规定,3月1日起正式生效。尽管税率上升,但是首次购房者退税额也有所增加,这意味着他们的税务负担基本没有加重。

按照新的土地转让税规则,住宅房产(Residential)成交价中25万到40万之间的部分增加0.5%的附加税(目前税率为1%);房价中超过200万以上部分加征0.5%附加税(目前为2%)。

First projects approved for renovation and retrofit of federally-administered social housing

February 17, 2017
by via CMHC News Releases — All Releases

Canada's first Affordable Rental Innovation Fund project opens in Vancouver

February 16, 2017
by via CMHC News Releases — All Releases

The neighbourhood you live in is just as important as the home itself.

When viewing a home or attending an open house, take some time to explore the neighbourhood. Get a sense of what it's going to be like to live there. You can:

Take a walk around the block.
Visit the local park and playground.
Have a coffee at a local cafe.
Visit the local school.
Test access to commuting routes to work.
Check out daycare facilities.
Drive to the local shopping centre.
Investigate local features, such as theatres, restaurants and golf courses.

Before you buy, make sure you get to see your neighbourhood too.

How to talk candidly with your kids about their feelings and concerns regarding selling your home and moving.

Their worries may include:

Losing connections with friends.
Finding a new job.
Starting a new school.
Disruptions in the home during viewings.
Work involved in preparing the home for sale.
Keeping the home clean and tidy for viewings.

The more you're aware of how your family feels about the process, the better you can deal with those issues.

Stock markets in the U.S. have been on a bull run since the end of the financial crisis

smashing through record highs in recent days.

The spread between fixed and variable rates is widening again

RateHub is a popular website that allows users to compare mortgage rates and credit cards.

Fleur

Prime downtown address at 60 Shuter Street (99% Walk Score and 100% Transit Score)
Located steps to Ryerson U Campus and Toronto Eaton Centre
Huge rental potential from Ryerson's 38,000 students and 15,000 faculty staff, 10,000 hospital employees in the area and UofT's 84,000 strong student population - not to mention nearby MaRS Discovery District and Financial District

How is a Collateral Charge at Tangerine different from Conventional Charge?

Collateral Charge MortgageConventional Charge MortgageRegistered for 100% of the property valueRegistered for the loan amountInterest and payments are based only on the balance outstandingInterest and payments are based only on the balance outstandingCreates room for future borrowing up to the charge amount without incurring legal costs Future borrowing would involve refinancing through a lawyer with legal costsOption to add a Home Equity Line Of Credit under current charge without incurring legal costs Adding a Home Equity Line Of Credit would involve refinancing through a lawyer with legal costsTransferring to another lender would involve refinancing through a lawyer with legal costsCan be transferred “as is” to another lender without incurring legal costs

There are 2 types of charges that can be registered by a lender; Conventional (or Standard) and Collateral.

When a house is mortgaged, it is used as security against the loan. This security is registered with a land registry office and is commonly known as a “charge”. This charge gives the lender the legal right to claim the registered house if the mortgage defaults. There are 2 types of charges that can be registered by a lender; Conventional (or Standard) and Collateral.

Canadian Housing Starts Trend Increased in January

February 8, 2017
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Montréal CMA Housing Starts

February 8, 2017
by via CMHC News Releases — All Releases

Toronto Housing Starts Increased in January

February 8, 2017
by via CMHC News Releases — All Releases

Vancouver Housing Starts Trend Lower

February 8, 2017
by via CMHC News Releases — All Releases

New Affordable Seniors' Rental Housing Project Opens in Warman

February 6, 2017
by via CMHC News Releases — All Releases

One of the easiest, most cost-effective ways to update your kitchen is to paint the walls.

In large kitchens or kitchens with brighter cabinets and counter tops consider bold, darker colors to help create a eye-popping contrast. Or, go with light, bright colors like soft whites or yellows to liven up even the smallest kitchen.