B’s Finance Minutes
It’s important to build an Emergency fund because in the event of a family emergency due to illness, job loss, or any other tragedy. For example Covid-19 or the 2nd or 3rd wave you want to survive financially for 3 months. Your emergency fund should be equal to 3x your monthly survival number. Therefore the first step
If you are buying a home What are the possible Sources of Downpayment? It can come from your Savings & Chequing TFSA RRSP Sale of a home Refinancing from a home Gifted down Did you know that about 19% of First Time Home Buyers used gifts from siblings or parents as a down payment? When it
If you are buying a home to live in (not for renting out), Down Payment if you qualify is 5% for properties worth $500,000 and below. This is true even if it’s your 2nd, 3rd or 4th home etc. As long as you are buying to live in it. If the property costs more than $500,000 then your
What’s really happening in the market? Is it true that prices are going to drop by 25%? When and where should I buy? Are there good deals out there? We talked to 4 Real Estate Experts LIVE to ask them these burning questions. We’d like to thank our experts for offering our viewers their Expert opinions
In today’s Finance Minute, one of the common questions I get from my real estate investors is this: Should I pay off my rental property mortgage first? My favourite advice is pay off your personal mortgage fast and your rental property mortgage last. Why is this important? Because of tax reasons. You cannot write off or claim the interest
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