Paying off mortgage safer than investing the cash

Study after study suggests that Canadians are having a tough time paying off their mortgages, as debt levels continue to hit record levels year after year. Why?

Could it be that there are more opportunities to spend? Could it be that some people don't want to pay off their mortgages faster?

Or are some professionals advising alternate investment strategies, suggesting that paying off the mortgage is not the best financial strategy?

BIG MORTGAGES AFFECT RETIREMENT

Rebecca and Darcy are in their mid-50s and are starting to think about retirement planning; they would like to retire in the next five years.

One of their biggest hurdles is a $225,000 mortgage. Currently, their $2,200 monthly payment would have the mortgage paid off in 10 years.

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A garage attached to the home: It’s practical… but is it safe?

Your house has a built-in garage and your car is safely tucked away from the elements. But is your family just as safe on the other side of the wall? The garage air may be seeping into your home without you knowing it.

Gases and other toxins
First of all, it’s important to realize that every time you start your vehicle and every time you park it back in the garage, it releases carbon monoxide, benzene vapours and a host of other chemical substances. These contaminants remain suspended in the air in the garage long after the engine has stopped running and the garage door has closed. In addition, they often combine with other vapours—e.g., from the lawn mower, snow blower or chain saw, or any container of paint, oil or fuel stored in the garage. If there…

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Christmas tree's: fun facts

Fun facts, all you ever needed to know about Christmas trees

OK, so where did it all begin — this enthusiasm for dragging a fir tree into the house to decorate for Christmas? Not with Queen Victoria and her hubby Prince Albert, as many people think. 

The evergreen fir tree has traditionally been used to celebrate winter festivals (pagan and Christian) for thousands of years. Pagans used branches of it to decorate their homes during the winter solstice, as it made them think of the spring to come. The Romans used Fir Trees to decorate their temples at the festival of Saturnalia. Christians use it as a sign of everlasting life with God.

Nobody is really sure when Fir trees were first used as Christmas trees. It probably began about 1000 years ago…

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Defer Your Property Taxes - BC property news

Some interesting facts from the BC Government about receiving help with paying your property taxes.

Once you receive your property tax notice, you may be able to apply for a low interest loan to pay your current year property taxes on your principal residence. There are two programs you may qualify for: 

• Regular Program
  You may qualify for this program if you’re:
  • 55 or older during the current year or
  • a surviving spouse of any age or
  • a person with disabilities
• Families with Children Program
  You may qualify for this program if you're a parent, stepparent or financially supporting a child.

You can apply to defer a portion or all of your residential (class 1) or residential and farm (class 1 and 9) property taxes after…

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High real estate costs make having kids in B.C. a ‘luxury’

Home prices in British Columbia are growing rapidly, and more and more having kids is seen by many as a luxury.

Home prices in British Columbia are growing rapidly—particularly in Vancouver, where the average price is almost double that of the national average—and more and more, having kids is seen by many as a luxury rather than a given.

Almost two-thirds of families in this province—65%—say the cost of home ownership has had an impact on their ability to start or expand their families, according to the results of a RateSupermarket.ca poll.

The majority of families across Canada feel the same way, but the national average is nine percentage points lower at 56%.

“While it’s no surprise that kids are hard on the wallet…it is disheartening…

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It’s More Than Putting A Sign On Your Lawn!

It’s More Than Putting A Sign On Your Lawn.

Just as much goes into selling a home as it does into buying one.

It’s a bit of a science actually. You want to get the best price, but you can’t be out of line with market conditions. What to do? Start by being as informed as you can and by choosing an experienced agent who knows your neighbourhood inside out.

Since 1913, Royal LePage has been helping Canadians sell their homes and guiding them through every step of the process. From showing you how to increase the appeal of your home and setting a price that will maximize your profitability to discussing offers and closing the sale. Below, you’ll find it all outlined in eight simple steps.

STEP 1

Deciding to Sell

Everyone has their own reason…

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Top 10 tips on how to be smart when decorating for the holidays

Top 10 tips on how to be smart when decorating for the holidays

This week marked the official start to the holiday season (at least in my books). It’s full steam ahead from here on out.

I’m a sucker for the holidays, but I still think it’s important to be smart when it comes to yuletide decorations. Here are some dos and don’ts when getting into the spirit of things:

1. Do check older string lights for damage. Before climbing up the ladder, make sure every light is working and that the cords aren’t frayed in any spots. Cold weather can cause the wiring in string lights to become brittle, which makes it a lot easier for them to get damaged. The longer they stay out during the year, the chances of damage to lights and cords increases.

2. Do not…

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Baby is Coming! Quickly Sell and Move into Larger Home

It is not uncommon for a young couple to purchase what is known as a "starter home". One that is just the right size for the two of them and priced just within budget to begin a life together with plans to move into a larger home to start a family.

Life moves quickly and some couples can find themselves expecting a bundle of joy before they have planned to look for a larger family friendly home. It can seem like a stressful ordeal to sell a home quickly and move into a new one that is more accommodating before baby arrivals, but it is not impossible.

One option is to get your home in top show worthy condition and list on the traditional market in hopes to sell as soon as possible. You will need to consult an experienced local agent and list at…

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How to Do Your Own Yearly Home Inspection

How to Do Your Own Yearly Home Inspection

Before you buy a home, it’s always a good idea to get a professional home inspector—but that shouldn’t be the only time you give your home a thorough look. Here’s a checklist of what to look for when performing a yearly visual inspection on your own home, or one you are considering buying.

A professional home inspection should not be skipped when buying a property. But when you first visit the house, you can also do your own visual inspection so you can watch for certain trouble spots. Even after you buy the house, doing this at least once a year will catch most issues before they become major problems.

You’ll need a pair of binoculars, flashlight, gloves, screwdriver, notepad and pen, and a camera to…

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Third of investors unprepared for buying process

Third of investors unprepared for buying process

It is a cardinal sin for investors not to be prepared or knowledgeable about the home buying process, but new figures point out that a third (32 per cent) of first-time investors admit to just that.

The survey, published by the Real Estate Council of Ontario (RECO), also found that 26 per cent of investors wished they had a better grasp of the buying process, 21 per cent wished they had looked at more properties and 14 per cent wished they had a better understanding of the contracts involved.

Other findings include:

• 43 per cent said there were sections of the real estate contract when they bought or sold a home that they did not fully understand.
• 36 per cent mistakenly think that after…

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