Buying an investment property is a popular option for Canadians looking at different ways to invest their money.Why more Canadians are raiding their RRSPs
Posted by Steve Harmer on
Why more Canadians are raiding their RRSPs
For the past 22 years, the Home Buyers’ Plan has helped more than 2.5 million Canadians borrow money from their RRSPs to help make the dream of home ownership a reality. However, the $25,000 maximum that can be withdrawn per person doesn’t give prospective homeowners a lot to work with.
The reasoning behind this plan is fairly straightforward. First-time home buyers (or anyone who hasn’t owned his or her primary residence in the past five years), are permitted to take up to $25,000 from their retirement savings without penalty as long as it is paid back within 15 years, which starts two years after the withdrawal occurs.
If you are buying with your spouse or common-law partner, it is possible to withdraw…
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As prices continue to escalate in many Canadian markets, it’s only natural for parents to want to help their kids buy a home. But there are three things parents should bear in mind before doing so, reports The Globe and Mail.
Canadians use an average of 75L of hot water each at home every day—for washing dishes and clothing, cleaning and personal hygiene. For the average family, that adds up!
The B.C. government expects to finish the fiscal year next March with a $265 million surplus, thanks to surging property transfer tax revenues and a lower Canadian dollar that helps everything from tourism to the movie and TV industry.
Canada’s most expensive housing market will continue to see price gains well ahead of the rate of inflation for the next two years, according to a report from a group which represents credit unions in British Columbia.
Condo living definitely has its perks. You can take advantage of amazing locations in the heart of urban centres close to public transportation. You can be a part of a community and you don’t have to spend your days doing yard work or home maintenance. But, best of all, you can enjoy convenient amenities like fitness centres, party lounges and pools, all at your doorstep. Sounds great, but how does this affect your bottom line? When purchasing a condo you want to consider your monthly strata fee.
This week, the provincial government released its 2015/16 Second Quarterly Report: an update on where provincial finances are at six months into the fiscal year and where the economy is heading.
During a recent visit to New York, Simon Henry chatted with a real estate broker who was trying to negotiate the sale of a Manhattan apartment to a wealthy buyer from China. The seller refused to drop below $5.2-million (U.S.) and the buyer was equally adamant that he wouldn’t go above $5-million.
The number of homes trading…