Found 26 blog entries tagged as budget.

As a first-time home buyer, you probably already know you’ll need a chunk of cash for a down payment. But lots of other costs can creep up when it’s time to jump into the real estate market, so it’s a good idea to save up for them and be ready for when the time comes to make an offer. Here’s how one first-time home buyer is navigating this exciting time.

Start budgeting early 

When Montrealer Kelly Wong decided last summer to buy a two-bedroom condo or small home on her own, she knew she had lots of homework to do, including figuring out what she could afford. 

TIP: Using an online tool like our Mortgage Payment Calculator can allow you to see what your mortgage expenses will look like.

Wong also teamed up with Jean-François Gionet,…

444 Views, 0 Comments

Read Full Post

Renovating your home is an enormous undertaking, no matter how lavish or understated your vision. It takes plenty of time and money to bring your dreams to life when it comes to home remodelling. To get the most out of your project, we’ve compiled a list of the key home renovation mistakes to avoid.

Photo by Roselyn Tirado on Unsplash

7 Home Renovation Mistakes to Avoid

1. Forgetting To Apply for a Building Permit

Before making any structural changes to your home, check with the city or town where you live to find out if your project requires any building permits. Skipping this step could cost you thousands of dollars down the line if you violate a by-law. In some cases, you might even be forced to tear down your work. To learn if building…

448 Views, 0 Comments

Read Full Post

Is the Canadian real estate market a mountain to climb? For a lot of young professionals who are first-time homebuyers, getting into the housing market can be a challenge, whether it’s saving up enough money for a down payment, finding the right home or securing a mortgage in order to buy it.

From tighter mortgage lending standards to higher interest rates, there is a lot to learn for the current crop of first-time homebuyers, and we’re here to help with this simplified guide to securing a mortgage for the first time.

The First-Time Homebuyer’s Guide to Securing a Mortgage

If you’re a first-time homebuyer, where do you even begin when applying for a mortgage? Let’s start with the basics.

Ensure You Have A Sufficient…

419 Views, 0 Comments

Read Full Post

Blowing the budget is everyone’s biggest fear when it comes to home renovation projects. Even if you follow standard guidelines—like building in a 20% cushion to cover unexpected costs, vetting contractors, and staying focused—it’s hard to prevent spending more than you’d like to. But with some strategic planning, you can save money in the lead-up to your big remodel and cut costs without cutting corners. 


1. Figure out your priorities

We get it: You’re super excited to get into your new house, and you can’t wait to make it yours. But before you start envisioning walls coming down, scale down your big dreams, suggests Toronto financial counsellor Jessica Moorhouse, who is also host of the Mo’ Money Podcast. 

“Yes, there’s a long list of things…

408 Views, 0 Comments

Read Full Post

When you pause to admire a beautiful kitchen, where do your eyes go first? The sparkling countertops? The shiny appliances? The geometric tile floor? You can be honest—your attention probably isn’t captured by the cabinets. 

They take up the most space, yet kitchen cabinets seem to go largely unnoticed when you’re appreciating a well-designed kitchen. If you’re looking to breathe some fresh life into your space while on a budget, or are planning your next big renovation project, don’t overlook them! Especially not when these current kitchen cabinet trends are sure to impress your guests and turn the kitchen into your favourite room in the house (if it’s not already).

Image via Rachel Claire from Pexels

Neutral no more

Trade in your bright whites…

517 Views, 0 Comments

Read Full Post

The 2021 Budget won’t make Canadian real estate more affordable for homebuyers, but consumers have dodged a policy “bullet” after much speculation around changes to the capital gains tax exemption, or other measures aimed at cooling the hot Canadian housing market.

The Federal Government has introduced the following budget items related to housing:

  • $2.5 billion to Canada Mortgage and Housing Corporation over seven years, to fund the Rapid Housing Initiative, Affordable Housing Innovation Fund, Canada Housing Benefit and Federal Community Housing Initiative
  • $1.3 billion, advanced and reallocated to previously announced funding to build and repair units and convert commercial space into rentals
  • $3.8 billion to build, repair and support…

425 Views, 0 Comments

Read Full Post