How to calculate how much you’re spending now, what you can afford and your future expenses. Are you financially ready to own a home? Look into these 5 calculations and questions before you meet with your broker or lender. QUALIFYING FOR A MORTGAGE There are 2 affordability rules that determine how much you can spend on housing without…
Alternative payment arrangements when facing financial difficulties. Unforeseen financial circumstances happen. Sometimes, they affect your ability to make regular mortgage payments. The good thing is that you have options. It’s important for you to take quick action quickly. If you can’t pay your mortgage, you need to get in touch with your mortgage professional at…
Use these tips and resources to ensure you get the most out of life – and home – as you age in place. Housing options for seniors Canada has a variety of housing options to fit different needs and budgets. Canada has many housing options available for seniors that suit a wide range of budgets,…
Use our tools and resources to ensure you’re getting the most out of home ownership. Tips and resources to help you manage your mortgage like a pro The following considerations can help you to save money when financing a home. They can provide for greater economic stability in the event of financial challenges down the…
The landlord/tenant relationship is important. As issues arise, know what it takes to make it work over the long term. Moving day Now that you have decided to rent, it is important to plan for moving day accordingly. Some people arrange for an overlap period when moving from one residence to another. While paying 2…
Tips for tenants and landlords. Things to consider when looking for rental housing and evaluating costs. As a general rule, housing costs should be less than 30% of before-tax household income. This includes: Below are other considerations to take into account before renting: TIPS FOR TENANTS… While there are no perfect rentals, there is a…
What legislation and regulations govern strata corporations in British Columbia? Governing Legislation What legislation and regulations govern strata corporations in British Columbia? Warranty Programs Do provincial legislation and/or regulations require that developers of new strata provide a new home warranty to buyers? Yes. The Homeowner Protection Act and Homeowner Protection Act Regulation generally require developers to provide one through…
BARE LAND CONDOMINIUM The boundaries of a bare land condominium are defined in relation to the land, instead of to a structure or improvement on the land. A building that is constructed on a bare land unit is considered part of the unit. BOARD OF DIRECTORS Each condominium has a board of directors that is…
Common questions and concerns about purchasing condominiums WHERE ARE MY UNIT’S BOUNDARIES? This will depend on your condominium. Sometimes, a unit boundary can be at the backside of the interior drywall of the unit’s dividing walls. Or, it might be the centre line of the unit’s walls. It’s important to be clear where your unit’s…
All of the information you need from the experts before buying a condominium. Before you purchase a new or resale condominium, you should consult with a number of advisors and condominium experts. The following questions will help you assess their qualifications. Of course, condominium markets vary and the intensity of a particular market can influence…