A lawyer’s favourite answer: it depends. Because it really does. It depends on how frequently you move; any less than a few years in a house and you will likely lose money on closing costs alone. It depends on how stable your income is; if you frequently would have to...

Short and sweet this week. The answer: usually. Before you sign to refinance, check your existing mortgage – some banks only allow you to pay out your current mortgage if you are selling. It’s in the fine print, and they’ll hold you to it. The better question is,...

If you are buying a house with someone who does not share their financial life with you, you will need to consider several extra points in addition to where and how much. The first question is how to take title [reference last post]; the second is how you run the...

I see a lot of clients who are buying their first homes, and getting some assistance with either the down payment or the financing from a family member, usually a parent. Most of the time, because it’s not something they would have come across on their own, they have...

Last time I blogged about extra costs on a purchase. Today is three extra costs to budget for on a sale. Realtor’s commission. You will have to pay it on the sale, and not at a later date. Even if you are selling by yourself, you may have to pay a buyer’s commission....

When you buy a house, you usually think of one cost: the amount you will pay above what your mortgage is. There are, however, a lot more. Land Transfer Tax. There is provincial LTT, and if you’re in Toronto, municipal LTT too. LTT is approximately 1.5% of the purchase...

You’ve saved up your down payment. You’ve picked your dream neighbourhood. You’ve chosen a realtor to work with. Now comes the hard part: actually buying the house. Here are some common mistakes to avoid: You fell in love with the staged house. Generally, you don’t...