Posted on
September 14/2020By
northwood
Buying a home is a big deal, especially if you have only ever rented your home. Having a house to call your own is a dream for many people. But when can you be sure that you are ready for a first-time mortgage? Here are some signs that will let you know you are prepared to own a home. 5 Signs it’s Time to Buy a House It is understandable if you don’t want to jump into buying a home, but if you are looking forward to the day when you stop paying your landlord’s mortgage and start paying your…
Posted on
September 07/2020By
northwood
When it comes to buying and selling your home, there is no single best way to get the deal done. Some homeowners prefer the safety net of selling their home before they buy their next one. Others are willing to pay for two homes until they can sell their old one for the right price. There are advantages and disadvantages to both approaches, and you’ll want to get some advice before you decide. One thing to consider before you buy or sell is the current real estate market. If it’s a buyer’s market, then you may need to be patient…
Posted on
August 24/2020By
northwood
Perhaps you’ve considered buying an investment property as a way to expand your investment portfolio. An excellent place to start is to consider an investment property in Muskoka and, more specifically, a cottage. There are several advantages to buying a cottage as an investment property in Muskoka: It’s easy to reach from the Greater Toronto Area (GTA) You can use it for your holidays You can rent it out when you’re not using it from as early as May to as late as Thanksgiving If you winterize it, you can rent it out year-round You can use the income from…
Posted on
August 17/2020By
northwood
When you get a mortgage for the first time or when you renew it, your lender may offer you mortgage life insurance. If you’re wondering what that is, you’re not alone! The purpose of mortgage insurance is that if you or your co-borrower die before your mortgage is paid off, it can help cover the remaining balance. You may be thinking: “I already have life insurance.” That’s great, but it may not be enough to cover the balance of your mortgage. If your loved ones cannot pay the mortgage, they may be forced to sell the family home. If your…
Posted on
August 10/2020By
northwood
One of the best ways to start saving up money for a mortgage is to see where you can cut back. If you haven’t already done so, figure out your net monthly income and your fixed expenses. Fixed expenses are ones you can’t change, such as rent, student loan payments, or child care. After that, figure out what your variable expenses are. Variable expenses are irregular; they can happen from as little as once a year to as often as every other week. They are also expenses that you have more control over. Here are some examples: See where you…
