by awinch | Apr 11, 2023 | Uncategorized
Did you that the median household income in Ottawa is just over $100K before tax? Wondering how much home you can buy based on your household income? Keep reading, the answers may surprise you! Minimum wage If you make minimum wage in a full-time position,...
by awinch | Mar 27, 2023 | Uncategorized
Nowadays, more Canadians than ever require a cosigner in order to secure a mortgage. Doing so gives the lender a guarantee that loan payments will be made by the primary borrower or cosigner. As a result, buyers usually have an easier time qualifying for a mortgage...
by awinch | Mar 20, 2023 | Uncategorized
Did you know that almost half (48%) of Millennials in Canada would choose TFSA over RRSP? In 2022, the CRA estimates that the value of the average tax-free savings account is just over $32K. So, what kind of savings account(s) are you working with these days? The...
by awinch | Mar 7, 2023 | Uncategorized
Want to save for retirement while lowering your potential tax bill? Have you maxed out your RRSP contributions for the year? Contributions to RRSPs are deductible from your total income which ultimately reduces the amount of income tax payable for the year! A...
by awinch | Feb 21, 2023 | Uncategorized
A question, is it less or more expensive to purchase a home in this current rate environment? The pandemic brought challenges to the housing market with surging demand and outrageous prices. Now that the storm has passed, prices have started to correct but the cost of...
by awinch | Feb 7, 2023 | Uncategorized
Buying a new build home has historically been a solid investment from the standpoint of gaining equity. From the time you sign the papers, to the day you get the keys, to selling down the road, you were making money. We’ve all heard the stories of people who would pay...
by awinch | Jan 25, 2023 | Uncategorized
Tax season is fast approaching! If you’re looking to make real estate moves this year, then now’s the time to think about how best to position yourself tax-wise based on your income situation. Sole Proprietor If you’re a sole proprietor and only paying tax on Line...
by awinch | Jan 11, 2023 | Uncategorized
Have you ever heard that you only need a 5% down payment? Sorry, but you will probably need more! So How Much? The rule of thumb for purchasing an owner-occupied home is 6.5%: 5% for your down payment and 1.5% for closing costs (i.e. lawyer fees, potential land...
by awinch | Dec 21, 2022 | Uncategorized
You might have heard the myth that you have to have zero debt in order to buy a home. The truth is, it’s the payment of your debt that is the focus. In the mortgage world, it’s all bad debt. Anything that has a payment associated with it works against you from the...
by awinch | Dec 7, 2022 | Uncategorized
You probably know that things like income, assets and debts, credit score, employment history, as well as your down payment amount all affect the pre-approval process and mortgage you’ll qualify for. Did you know that the type of home also impacts how much you’ll be...
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