I hope everyone had an amazing weekend! Weather was half and half but not a bad start to the week.
I just wanted to share this recipe with you that I made over the weekend. The house smelled DELICIOUS and better than any candle you could find. If you want to sell your house this fall, make these before showings or an Open House. Mmm.. Enjoy!
It's the reason you clip coupons and choose the office coffee rather than hitting the local coffee shop on your way to the office. It’s the reason you’ve become more familiar with the creatively cost-efficient “staycation” rather than a lavish vacation, and the reason you carefully consider each purchase before swiping your card. That’s right, it’s time to discuss the down payment, and more importantly, discuss exactly what is a down payment?
For those of you who have done your research, you know that when it comes to your down payment, you have a few options to consider. The down payment is the part of the purchase price that you come up with in advance of getting your mortgage, and the amount of your down payment is something you should have set before beginning the search for your dream home.
Conventional Down Payment
If you have a conventional down payment, this means that you have saved enough to put at least 20% of the purchase price down for your down payment. The benefit of this option is you do not need to be insured.
Low Down Payment Insured Mortgage
You are able to put as little as 5% down on your new home, but this option requires you to obtain Mortgage Default Insurance. This is a one-time premium that you pay as part of yourclosing costs.
Using Your RRSP for Your Down Payment
Did you know that under the Federal Governments Home Buyer’s Plan, first time home buyers are able to use up to $25,000 per person is Registered Retirement Savings Plan (RRSP) for their down payment? As long you repay within 15 years, the withdrawal is not taxable.
Leaves are finally changing and it seems more officially fall.
Not all home improvement projects are created equal. Some renos may cost a lot but not add much to your home. While these upgrades are not inexpensive, they add significant value as well as increase your enjoyment of your home. If you don't know where to start, I've added some links for contacts.
Watch this. Which one do you want?