Mortgage News
What to do with your TFSA?
For you savvy investors out there — or those planning on investing this year– now is a great time to think about your TFSA contribution for 2015. As of January 1, eligible Canadians (residents over 18) can contribute an additional $5,500 to their TFSAs. That brings the total contribution room to $36,500.
Investment Property Purchasing With Rental Income in Mind
The purchase of your first home is a large investment and one that involves a significant financial commitment. Homes with legal suites are a great option for the first-time homebuyer seeking a home to both live in and build equity from, plus gain some revenue from a basement suite renter.
Things to Consider When Buying a Cottage
The question you should ask yourself is: can you afford a second home? Financial institutions offer several methods to pay for the cottage, such as increasing the mortgage on your city home or creating a second mortgage, but you have to have the income to make the payments.
Secondary Suites
The term “secondary suite” is generally used to describe a self-contained dwelling unit with its own kitchen and bathroom, which is separate from the principal dwelling in a house. It can be located either within the principal dwelling or in an accessory building on the same lot as the principal dwelling.