When homes’ appraised values drop quickly—as they have in the summer of 2022—anyone depending on the sale of their current home to buy their next one can find themselves in financial trouble. Though it’s...
Get personalized quotes from Canada’s top home insurance providers.*You will be leaving MoneySense. Just close the tab to return. What about flood damage? Years ago, it was virtually impossible to get insurance coverage against...
What is considered an owner-occupied property? Lenders and mortgage insurance providers have their own criteria for what qualifies as an owner-occupied residence. For example, a lender may require you to list the home as...
“Potential buyers may not have the cash they require to pay for an asset like a second home in part or in full,” says Maxine Crawford, a mortgage broker with Premiere Mortgage Centre in...
But when you rent, you can’t just paint the walls or hang up art without getting your landlord’s permission first. So what can renters do to decorate on a budget? Before slapping down cash...
People who use government programs for first-time home buyers probably won’t need them more than once in their lifetime. However, under certain circumstances, it is possible to qualify as a first-time home buyer again....
Selling part of a home to family—any tax issues to know about? When a home is a primary residence, its sale does not trigger a taxable event under the Canada’s Revenue Agency’s (CRA) principal...
Source: via BMO email Recessions do not occur very often because expansion usually occurs in the economy. Case in point: Canada has experienced a total of five recessions since 1970 and 12 since 1929....
With the buffet of mortgage options available today, it’s easy to contemplate a switch before your term is up. Variable-rate mortgage holders, in particular, might feel as though their feet are being put to...
Tax credits when renting property from a family member There is a lot to unpack with your question, Satyesh, but I will address your direct question right off the bat. If you rent real...
