News - January, 2023

What Are Condo Fees?

What are condo fees, how are they calculated, and what do they cover? Condos have become the home of choice for many Canadian homebuyers, particularly first-timers, but increasingly move-up buyers as well. But many don’t understand this lifestyle option before deciding that it’s right for them.

Homeowners are drawn to condo living for a variety of reasons. It is a good option as residents age and can no longer care for a house or want to downsize. There is less maintenance and repair responsibility and more security features. But the big draw is often on-site amenities such as a swimming pool that you would not otherwise be able to afford.

Affordability is a big factor behind the relatively recent shift to condo living, but…

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10 Factors to Consider When Deciding Where to Live

1. Cost of living: The cost of living in a particular area can have a significant impact on your budget and overall lifestyle. Factors to consider include housing costs, taxes, groceries, and transportation expenses.

2. Job opportunities: If you are relocating for work, it is important to consider the job market and job opportunities in the area. Research the types of jobs available, the average salary, and the industries that are prevalent in the area.

3. Safety: Safety is a top priority when choosing a place to live. Research the crime rates and safety measures in the area, and make sure you feel comfortable with the level of safety in the community.

4. Education: If you have children or plan to have children, the quality of…

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Should I Rent Or Should I Buy A Home?

Renting VS Buying

The decision between renting or buying a house should take into account the length of time you plan to stay in a particular area. In general, if you expect to stay in the same location for a longer period of time, it is more cost-effective to purchase a home. This is because the value of the home tends to increase over time, and the expenses associated with buying and selling a home (which can amount to around 5% of the property's selling price) are spread out over a longer period. These expenses can include real estate agent commissions and legal fees for the seller, and closing costs such as land transfer taxes and legal fees for the buyer.

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Banks Versus Mortgage Brokers Pros and Cons

When looking for a good mortgage rate, there are two main options: going directly through a bank or working with a mortgage broker. Each can be a good option, depending on your financial situation. So how do you decide which one to try? Let’s look at the difference between banks versus mortgage brokers, their pros and cons, and how to figure out which is best for you.

The Difference Between Banks Versus Mortgage Brokers

The big difference between a bank and a mortgage broker is that a mortgage broker can provide you with mortgage products from several different lenders, while a bank can only give you the mortgage option from their own company. Mortgage brokers have access to a variety of lenders and rates, which means they can find the lowest…

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