FAQ on BC's Home Buyer Rescission Period
Posted on Apr 15, 2024 in Buyers Info & Facts
These 10 common Frequently Asked Questions, on the Home Buyer Rescission Period in British Columbia is a helpful way to clarify common questions and provide valuable insights for prospective home buyers. Here’s a detailed FAQ to guide you through understanding this important consumer protection mechanism:
1. What is the Home Buyer Rescission Period...
How to Save for a Down Payment on a House
Posted on Apr 12, 2024 in Buyers Info & Facts
Saving for a down payment on a home is a significant financial goal that requires careful planning and disciplined saving. Here are some practical strategies to help you save effectively for your home down payment:
- Set a Clear Goal: Start by determining how much you need for a down payment, which can vary based on the price of the home and the mortg...
Spring Cleaning Tips for a Healthier Home
Posted on Apr 12, 2024 in Facts on Home Ownership
Spring cleaning is a great way to freshen up your home and get a head start on the hectic seasons of spring and summer. Here are some effective tips to help you tackle your spring cleaning with efficiency and ease:
- Make a Plan: Before you start cleaning, make a list of areas that need attention. Prioritize the tasks from most to least important. Thi...
Facts on Real Estate Taxes
Posted on Apr 11, 2024 in Real Estate Information
By January 2022, there were several real estate-related taxes and measures in place in British Columbia (BC) aimed at addressing housing affordability and speculative practices. While these measures may not necessarily be "new" at the time of my last update, they have been significant in the BC real estate landscape. Here are some of them:
- Speculati...
8 benefits of being a Landlord
Posted on Apr 11, 2024 in Landlords and Tenants
Landlord benefits can vary depending on factors such as location, property type, rental market conditions, and individual circumstances. However, some common benefits of being a landlord include:
- Steady Income: Rent payments from tenants provide a regular source of income, which can contribute to financial stability and help cover mortgage payments...
Canada to Increase Mortgage Amortization for First Time Home Buyers
Posted on Apr 11, 2024 in First Time Home Buyers
As of April 2023, in Canada, the maximum amortization period for a mortgage with less than a 20% down payment and hence requiring mortgage loan insurance (typically from the Canada Mortgage and Housing Corporation, CMHC) is 25 years. This is due to regulations meant to ensure financial stability and manage the risk associated with longer loan terms...