The home-buying landscape – especially when it comes to mortgage qualification and rates – seems to be changing constantly these days.

Mortgage expert Atrina Kouroshnia makes sense of it all

Until (very) recently, Canadians were getting the short end of the stick – at least when it came to income qualifying, compared with foreign buyers. Unlike Canadians, those from outside of Canada could essentially just plunk down 35 per cent on a property in order to buy it; this without some lenders doing serious due diligence on whether they were good for the remaining capital. This had many Canadians furious about the tight guidelines and standards that they were compelled to meet, but that foreign buyers were not. Things changed last month.

You know

If you thought down payment and closing costs were all you'll pay for when buying your new home, think again. Here's how you can manage your expenses

So you’ve finally purchased a home! After all of the months of searching, and another few weeks poring over endless paperwork, you have been given the keys to your beautiful home. Now all you have to do is buy new appliances, get some new furniture, bedding for the guest room, hire a landscaping service...and the list goes on and on. Just when you thought you had spent all your money on your down payment, now is the time that the expenses really start to add up. After you buy a home, you suddenly realize how many things you “need” in order to make your home function. But now is the time to be careful with

Is your home ready for winter?

Sustained low temperatures, combined with cold winds and winter precipitation, can cause problems for the interior and exterior of your home. Here are some common winter household problems to anticipate and avoid:

• Heating system breakdowns can be an uncomfortable – and sometimes expensive – issue when cold weather hits. Make sure your system is inspected and well maintained before you need to depend on it for warmth.

• Air leaks, particularly around doors and windows, can cause drafts and heating system inefficiency, raising your energy costs.

• Gathering around a cozy fireplace is one of winter’s pleasures, but chimney fires are a big winter safety hazard. Make sure your chimney has been cleaned and inspected

What About My Principal Residence?

The gain on the sale of real estate is a capital gain unless the property has been purchased with the intent of reselling at a profit, or developed and sold as a business endeavour.  If it is considered a business transaction, the entire profit or loss on the sale is taxable or deductible.  If the transaction is a capital gain (principal residence, summer cottage, second home, rental home, etc.), only 50% of the gain is taxable.

If the property is the taxpayer's principal residence, the principal residence exemption may eliminate all or part of the capital gain.  The Canada Revenue Agency (CRA) policy used to be that the form need not be filed unless there is a taxable gain after deducting the principal residence

The sooner you go from being a renter to an owner, the sooner you can begin to increase your personal wealth. 

This is perhaps the only legitimate, safe way to parlay a relatively small amount of money into an amount many times larger – and tax free to boot!

First decision – Who is buying?

Are you planning to buy in your name only? Are you buying with a significant other? Are you thinking of going in as partners with friends or relatives?

Second decision – Who will live in this home?

Will you? Will you rent out some rooms or part of the home?

Third decision – Where do you want to buy the home?

Close to work? Close to your family? Close to your social life? Whatever you can afford?

Fourth decision – Decide when you will be ready.

While success in real estate depends on many factors, including choosing the right real estate agent, the current market conditions and the condition and location of the property itself, there’s a few tricks that property owners can use to boost their luck!

People have been looking for divine intervention with their real estate transactions and properties for centuries, turning to everything from crystals to Catholic saints! Some of these methods involve buying and selling a piece of real estate while other luck-enhancing techniques aim to improve the luck of the occupants of a home.

In the spirit of the lucky Irish four-leaf clover, here’s four ideas you can use to help create your own luck with your real estate investment!

Designing and

There are certainly several things to consider when buying and selling a house at the same time.

The process of buying a house can be difficult and stressful. Tons of research is required in terms of the location you want to live in as well as the local real estate market. Then you’ll need to go house hunting in order to find properties that are for sale, not to mention find houses that you actually like. It can be an overwhelming process.

The same can be said about selling the house you’re currently living in. You’ll need to make repairs, invest in upgrades to help boost its value, stage your home, hold open houses and more. Like buying a home, selling a home can prove to be quite a challenge. With this in mind, you’re probably wondering how the

On Monday the 17th of October, stricter new federal rules about who can qualify for an insured mortgage took effect across the country.

Now, all new mortgage applicants have to pass a ‘stress test,’ which tries to predict whether they can keep up with mortgage payments, at their current salary levels, if interest rates were to rise.

Low interest rates have fueled red-hot real estate markets in south-central Ontario and, especially, Vancouver. As real estate values have skyrocketed in both places, uneasiness has grown about affordability and whether real estate has become a bubble economy. Because of mortgage insurance guarantees, Ottawa has a stake in home buyers not buying more than they can afford (leaving aside risks to the wider economy).

“I

Keep Emotions in Check Purchasing Real Estate

Getting too emotional when buying a home can cost you big time! The last thing you want to do is create a lot of extra stress for yourself when buying real estate. In order to make your purchase go smoothly we want to offer some excellent first time home buying tips. It is easy to make home buying mistakes especially when you have never done it before!

Whether buying or selling a home, emotions are always involved in the real estate process. So how do you keep your emotions from hindering your judgment when buying a home? It can be tricky, as optimism and excitement are prone to be high. However, it’s important to keep a clear and level head when it comes to making one of the biggest purchases of your

They’ll arrange showings, set up negotiations with the seller’s agent, and even pick you up from the airport.

It’s the kind of pitch a real estate agent might make.

But no – this is the work of an unlicensed foreign agent working in B.C.

The man on the phone is cheery and confident, with the practised ease of someone accustomed to calming anxiety.

There is no need to worry, he says. Buying a home in Vancouver is simple. His company will dispatch people to the airport, then guide an inexperienced buyer through the entire process. No other company will be involved, he promises. “If you go to look at a house, our headquarters staff will take care of you,” he says.

His colleagues will come every day to arrange showings and, when a suitable home