So, you’re thinking about investing in real estate? Congratulations – property investment is a great way to diversify your portfolio and improve your financial footing during periods of economic uncertainty.
There’s just one problem – you don’t know where to start. Continue reading
It’s no secret that the Canadian housing market has been a bit volatile as of late. In certain portions of the country, prices are hot, hot, hot. Price bidding is common in Vancouver, and Toronto and Montreal are both posting record sales numbers. And yet, everywhere you look, experts keep warning of an impending bubble.
So, what’s the deal? Is the housing market rock solid or on the rocks? Continue reading
The amortizations gods have been good to Canadians over the past three years. Just 60 months ago, mortgage rates were nearly double what they are now, costing homeowners thousands of dollars in interest every year. In fact, if you were to compare interest costs in 2007 with today’s rates, you’d save over $100,000 in interest over a 25 year amortization period on a $200,000 home.
There’s no doubt that now’s the time to take advantage of these historically low rates. Which begs the question – are homeowners doing enough to capitalize on these record-breaking deals?
When it comes to financial advice, including information on the best mortgage rates, who do you turn to? According to a survey released by the Bank of Montreal last Friday, Canadian’s are more likely to turn to their financial institution with money problems than anywhere else. This includes friends, family members, financial advisors and mortgage brokers. Even in the age of social media, younger home hunters and investors admit that the bank is their number one source for financial advice.
But is the bank really the best place to go for unbiased information?
There’s no denying that Canada’s big six banks deserve a pat on the back for their marketing prowess. But it’s important to recognize it for what it is – smoke and mirrors. Banks position themselves as partners in the pursuit for financial success, but at the end of the day that’s not necessarily the truth. While banks aren’t out to suck you dry, they certainly are out to make a profit. At the end of the day, banks are driven to rake in profits in order to please shareholders. Sadly, this is often at the expense of the customer. Continue reading
Does the thought of investing in real estate appeal to you? Well, now could be the perfect time to take the leap into the rental investment arena. The continued strength of the nation’s real estate market, along with the expectation that interest rates will remain low, should provide plenty of appeal for investors looking to ramp up their real estate portfolio.
According to a recent report released by Bank of Montreal Economics, there are a plenty of advantages to investing in commercial Canadian properties. Earl Sweet, senior economist and managing director at BMO Capital Markets has stated that “After a severe and protracted market downturn in the 1990s, the commercial real estate industry in Canada has been characterized by cautious development and prudent lending practices.” This calculated approach has enabled the sector to reamin extremely attractive to investors. Continue reading