Bridge financing, also known as bridge loans or interim financing, is a short-term loan option available to Canadian homeowners who are in the process of selling their current home and purchasing a new one.
Inflation moved up again! April inflation numbers are out for Canada. Inflation increased to 4.4% from March’s 4.1%. This is the first time the rate of inflation has increased since last June last year. What this means for interest rates: 1. 5 year bond yields are up – this puts pressure on fixed interest rates … Continued
New federal rules came into effect January 1, 2023 which now tax the profits from the sale of residential property as business income if the seller owned the property for fewer than 12 months.
If you bought your first home last year this is a must read! As Canadians start to file their 2022 taxes, be sure that you or your friends and family take advantage of this tax credit available for qualified ‘first’ home purchases in 2022. This tax credit can be up to $10,000.00! Even if you’ve owned a … Continued
A brand new tool has just been launched for first time buyers looking to save for their first home. Introducing the FHSA Along with doubling the federal first-time homebuyer’s tax credit, there is a new way coming that will allow you to save up to $40,000 on your first home, the Tax-Free First Home Savings … Continued
If you’re looking to do some home renovations but don’t have all the cash up front to pay for materials and contractors, here are a few ways to use mortgage financing to bring everything together. Mortgage Refinance Probably the most straightforward solution, if you’re an existing homeowner, would be to access home equity through a … Continued
Lately, we have had an increasing number of clients asking about financing Airbnbs and what it takes to run them. After owning an Airbnb rental condo myself, we’ve decided to create a series of posts with the need-to-knows of buying, financing and running Airbnbs in Victoria, B.C. Not all buildings can legally run an airbnb! … Continued
What is it? Title insurance is an insurance policy that protects the lender (banks) and the property owner against a number of risks related to the property title/ownership. If you are buying a home in BC you can expect title insurance to be required by your lender. Your lawyer will process the title insurance and … Continued
Have you been looking at a great home, maybe even your dream home, but you just can’t get past the ugly carpets? Or maybe it’s that dated kitchen and wall-to-wall carpet in the master bath? What if the house is in desperate need of a new roof? Don’t worry! We’ve heard it all and have … Continued
What are they? These are costs on top of your down payment that you should understand and budget for. The name of the game is to be as prepared as possible for all potential and likely scenarios. This includes budgeting for the appropriate expenses and also knowing just how many people are involved in a … Continued