New Minimum Down Payment Rules Effective February 15, 2016

This past December, Finance Minister Bill Morneau announced changes to the rules for government-backed mortgage insurance. Effective February 15th, the minimum down payment for new insured mortgages will increase from 5% to 10% for the portion of the house price above $500,000. The minimum down payment will remain at 5% for homes with a purchase …

Posted in Buying and Selling, Home Finance, Investing

Country Living – Reducing the Risk of a Barnfire

Some good information courtesy of the Ministry of Agriculture, via the Ontario newsroom. This is especially important, as loss due to fire can be financially and emotionally devastating. Some of the recommended best practices include: Hiring a qualified professional to assess all farm buildings Getting all electrical equipment inspected yearly by a licensed contractor Only using CSA …

Posted in Home Maintenance, Living

2016 Water & Wastewater Rates for Halton Region:

Interested in learning more about the 2016 water and wastewater rates for Halton Region? For details use the link below to view the water & wastewater rate card published by Halton Region for 2016.  2016 Water & Wastewater Rate Card for Halton Region  

Posted in Home Finance, Living

Putting Your Profits to Work…

The government has passed the contribution limit for (TFSA) Tax Free Savings Accounts into law! Starting in 2015 and during subsequent years, you can invest up to $10,000 annually. If you’re thinking about ways to invest your profits from a home sale, then this increase could become a part of your strategy. The Canadian government proposed raising the annual contribution …

Posted in Buying and Selling, Investing

Budget Patio Furnishings!

Here are three ideas that I recently saw on Houzz that are a great way to easily  create outdoor furniture on a budget.  Rig up a dining table: Get a pair of sturdy sawhorses and top them with a door slab. Either paint all the pieces or just cover with a tablecoth.  Create a bench: Take some salvaged …

Posted in Home Renovation

HST Rebate for New Homes

I just read an article by Toronto Real Estate lawyer Bob Aaron that reminds all of us to keep our information updated, so that we retain our right to the benefits of principal residence ownership and monetary incentives like the HST rebate for new homes. If you have not read the article, here is a link to it: The …

Posted in Buying and Selling, Living, New construction, Rebates