Your $800K House Costs More Than You Think

Five years ago Canadians, particularly those in Toronto and Vancouver, went on a buying spree for homes. Interest rates were dirt cheap at 2% and homes could be bought with a 5% down payment and 25 year amortization. Heck, if your household income was around $80K to $90K, you’d qualify for buying a house. Fast…

Should You Go With A Variable or Fixed Mortgage?

The biggest question that many Canadians will be facing over the next couple of years is whether to go with a fixed rate mortgage or a variable rate mortgage. Unlike our distant North American cousins in America, Canadians have the ritual to renew mortgages every 5 years. It’s too bad that Canadians don’t get the…

What Is An Affordable House?

The million dollar question that every Millennial wants to know is “how much house can I afford?” That’s because despite the high prices in two of Canada’s major cities, the majority of Millennials still want to buy a home. With house prices rising much faster than income in their respective cities, just how much can…

How To Throw Away Just As Much Money Buying vs Renting

It’s time for another comparison of rent vs buy. It’s not that I condone buying a house, but in ultra expensive cities in Canada like Vancouver and Toronto, all the arguments of buying over renting have become myths. The popular saying that you are throwing your money away renting is getting harder and harder to…

Risks In Real Estate

Recently there have been a lot of news articles talking about real estate deals gone bad. First there were the Mattamy homes in Whitby that dropped almost $100,000 in price this year. Buyers from last year had remorse and begged to get their home prices readjusted but to no avail. Then came another Mattamy story…

Should You Be Afraid of Home Capital Failing?

The business and economic news that is dominating Canadian media is how an alternative mortgage lender named Home Capital Group has lost over 80% of its value over the past week. This has led to speculation that the company won’t survive and it could be sold off as it continues to lose liquidity. Before we…

Can You Retire With A $1M House?

The latest financial news to hit the wire over the weekend was a report that stated that Canadians now owe $1.65 for every dollar earned. Most of ┬áthe debt was due to the rise in mortgage loans that Canadians took out as houses continued to hit record highs in the popular cities of Toronto and…