Category Archives: Financial Tips

Why You Should Buy Commercial Real Estate Now

Tired of paying high leasing rates at your current commercial location? Well, what if you knew you could save more in the long term if you opted to buy a building for your business today? Low interest rates, low vacancy rates and a tight supply are creating the perfect purchasing situation for entrepreneurs across the country.

According to Steve Murphy, senior vice-president of commercial and treasury management at BMO, now is a particularly good time to invest in commercial property, both for their own uses and for leasing opportunities. “There is a strong demand for these properties by users, who are often able to lease out part of the property for additional rental income.” Continue reading →

Ten Tips for Aspiring Homeowners

Thinking of buying while interest rates are still low? Follow these tips to ensure that your finances are ready for a long-term investment. Continue reading →

Refinancing Just Became a Whole Lot Harder

Ottawa’s latest round of mortgage policies could have quite the impact on current homeowners, especially those shouldering a large amount of debt. If you have a mortgage and are planning to refinance or renew in the coming months, you could be in for a bumpy ride. The two factors that will most impact your experience? Whether or not you plan to change your mortgage and your mortgage qualifications. Continue reading →

What’s the Deal With One Man Bidding Wars?

Bidding wars are a common side effect of hot real estate markets. Whether you’re bidding against one or five buyers, the situation is always tense. It’s often an all or nothing offer – go big or go home. When multiple offers are on the table, the only strategy is to aim high, which is great for sellers. So great, in fact, that some sellers are trying to profit off of “fake” bidding war situations.

A Toronto realtor is calling for tougher bidding war rules after her client was duped into paying $90,000 over asking for a midtown home. The couple believed that they were in competition with three other bidders for the property, when in all actuality they were the only interested party.  Continue reading →

New Mortgage Rules Will Dampen Economic Growth?

Finance Minister Jim Flaherty stated last week that he realizes tightening mortgage rules could slow economic growth by force-cooling the housing market, and also that he was prepared to take this risk. Since then, TD Bank Mortgage professionals have estimated that Ottawa’s move to reduce the maximum amortization period to 25 years could curtail growth by as much as 0.2 percentage points in 2013. Continue reading →