First time home buyers are usually on the fence between renting or buying a condo. There are advantages to renting a condo, such as flexibility of residence, instant move-in, no permanent commitments and low to no down payment requirement. However, there are also great advantages to buying a condo or a house. So, before you sign on a lease, read the following advantages to owning your home; Increased net worth Buying a condo or a house will likely instantly increase your net worth. This also brings financial advantages such as improved credit score, better lending opportunities and buying ...
5 Key Advantages of Owning your Condominium
August 20, 2018
Condo Rental Tips for First Time Landlords
April 9, 2018
Real estate is still the safest investment choice. Land and home values are slowly and steadily increasing. Condominiums offer a more dynamic investment option as if done correctly they can generate a positive cash flow from rentals. Condo units are also cheaper and usually easier to sell than detached homes. However, to be a successful condo investor, you will need to know and do your duties as a landlord and to learn to find the perfect tenant. Here are some condo rental tips for first time landlords; Review your building’s rental rules. Condos in Canada are governed by ...
Which is More Beneficial – Buying a Condo or Renting?
January 12, 2018
I know what you must be thinking right now. Isn't that question a little bit obvious? Unfortunately, the answer to this question is not as easy as it was decades ago when common wisdom dictated that you buy a property as soon as you can. In fact, the schematics and dynamics of ideologies have evolved quite a bit over the past few years thanks to the cold hard economics that owning a home now brings to the table. No need to worry though. Here are a couple factors that we have put together to help you determine whether it is ...
What You Need to Know When Renting A Home or Apartment in Canada
December 20, 2017
Relocating to a new place can be quite a hurdle. Most especially when you have absolutely no idea what to expect in terms of rentals and what not’s. That’s why in a bid to make your relocation efforts a little less hectic we have compiled a few important things you need to know when you rent a home or apartment in Canada. Understand the expenses included in the rental rate Although other places might have a slightly different way of doing things, in Canada, the rental rate is often tagged to a number of different expenses. For instance ...
House poor much?
May 29, 2013
Have you heard of the term "house poor"? Essentially it means having your mortgage payments take up so much of your monthly income that you don't have much room for much else.. What should you do if this is the case? Should you sell your home and start renting? Well with rental prices hitting new heights this might not be a better option. One thing you could do is go into your bosses office and demand a raise, however, this might also leave you in the unemployment line if you come across as too brash. Should you spend ...
Rent vs Buy?
February 11, 2013
Are you wondering whether to buy or rent a condo? Well, the first thing to do when faced with a prediciment like that is to figure out your finances. Never bite off more than you can chew. Be honest with your self and take a long hard look at your bank account and the money you are bringing in and the money going out on a regular basis. When buying a condo don't forget that on top of your mortgage you do have a monthly maintenance fee and property taxes that need to be paid. When renting the only ...