Rent-to-own doesn’t come without its potential risks. If you enter into a lease-to-own agreement and choose not to purchase the home, you will likely lose all the money accrued toward a down payment.  While rent-to-own agreements in Canada are possible, they’re rare. If you’re worried that home prices will continue to go up in the future, one advantage of entering a rent-to-own situation is you get to pre-determine the purchase price of a home a few years before you... [read more]

Are you looking to purchase a new house or apartment? Although this is an exciting idea, packing everything up and moving can be a daunting task. This article will provide three trips to eliminate old and unnecessary items, which will make the process of moving into a new home simpler.   Sort Everything That You Don't Need   Firstly, sort every item you own. Usually, families tend to sort out the essential items in each room and separate them from everything else.... [read more]

The fall is the perfect time for a credit clean-up so that you are ready for the holiday spending season – and anything else the year can throw at you!   When it comes to cleaning up credit, there is no better time than now to recognize the importance of your credit score and check if you are on track with your habits. To get started with your credit clean-up, there are a few things you can do:   Pull Your Credit Report: For most of us, our credit score is... [read more]

The Ontario government launched the Housing Affordability Task Force, which has been tasked with finding solutions on how to increase the supply of both market-rate rental and ownership housing.   The task force comprises nine members who will provide the government with recommendations on additional measures to address market housing supply and affordability. They explore measures to address housing affordability by: Increasing the supply... [read more]

In Canada, various programs are available for first-time homebuyers, with the aim to help make buying your first home easier.  RRSP Home Buyers’ Plan If you haven’t purchased a home within the last four years (or lived in a spouse’s home in the same timeframe), you may qualify for the RRSP Home Buyers’ Plan. With this plan, you may borrow up to $35,000 tax-free from your RRSP to fund your down payment. Just keep in mind that the money must be in your RRSP... [read more]