Real Estate Blog

Getting the Mortgage Monkey off your Back.

Owning a home is one of the most common ways to build equity and wealth. This process usually involves a mortgage. While the length of this loan might seem intimidating, it is possible to pay it off early depending on your circumstances. 

When looking into mortgages ask your lender if you will face a penalty by paying off your mortgage early. Each loan has specific prepayment privileges. Many plans limit the amount you can put toward a prepayment. If prepaying is a priority to you, you may want to consider a more flexible type of mortgage. Here are two main types of mortgages.

OPEN MORTGAGE                                                                CLOSED MORTGAGE

Higher interest rates           

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One Wellington Condos in Brantford, ON

Brantford’s first luxury condo is coming to the heart of downtown Brantford. Close to all amenities, One Wellington is a luxury residence just steps away from the city’s newly revitalized historic downtown, close to great entertainment and amazing restaurants, as well as the lovely Grand River. Every detail of One Wellington is created to amplify elegant living and comfort. The impeccable taste of elegant living and comfort, One Wellington exemplifies luxurious living. The magnificent rooftop garden is the crown jewel of One Wellington, providing a beautiful oasis amidst the development in Downtown Brantford. Perfect for hosting parties or relaxing, this brilliantly designed garden is complete with beautiful

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LIV Communities is creating the scene in the small, unique town of Paris, Ontario. This town is right off of highway 403 at the meeting of Powerline Road and Rest Acres Road. Scenic Ridge, in a beautiful part of the town will have many types of new homes, including bungalows, 2-storey singles, traditional towns, and dual frontage towns. This community located right near the Grand River will give anyone a good sense of both country and city living together as one.

Paris is located in Southern Ontario, and has been known as one of the “prettiest little towns in Ontario.” Paris is also known for its beautiful cobblestone architecture, which is why LIV Communities is very happy to be able to present Paris as the location for the new Scenic Ridge

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With 2019 right-around the corner, it's time to start thinking about what we would like to achieve in the coming year. Many have goals pertaining to finances, whether it's to save for retirement or a large purchase, build wealth through investment or reduce debt.

Create financial goals you're sure to achieve

When we set goals, it is always with high expectations and good intent. However, a few months into the year, after the initial motivation is gone, many will struggle to stay on track. What we are missing is a solid plan of action to guide and motivate us so we stay on the path to achieving our goals.

Here are ways to keep you on track:

1. Identify what you want. We often don't reach our goals because they are not what we want, but what

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Retirement Catch Up: Get your retirement savings back on track.

Pay yourself first. The key to building wealth is keeping a portion of what you earn. Set automatic transfer of a portion of your paycheque into a savings account, From there, you can choose to contribute a portion of your savings into a retirement account, such as a Tax Free Savings Account (TSFA) and/or a Registered Retirement Savings Plan.(RRSP)

If you choose to contribute to a TFSA, you can contribute up to $5500 per year; keep in mind, the total contribution amount rolls over each year so you may be able to contribute more. If you're just opening  the account, you can contribute up to $57000. There's a one percent per month over-contribution penalty; if you over-contributed more

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Conventional wisdom suggests we should save about 10 to 12 times our current income, however, many people approach retirement having saved much less. So how much is enough? The amount of money you should have saved before you retire depends on many personal factors and considerations including

Your Lifestyle: If you live well within your means and have prudently saved for retirement, you may not need to adjust your lifestyle much it is better to have the choice to downsize your lifestyle and spending habits than it is to be forced to due to lack of adequate planning.

Your Retirement Plans: Although it's wise for both you and your spouse/partner to save for retirement., there are other considerations that may impact your total savings target: At what

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Strategically reducing or paying off debt benefits your finances tremendously, but can positively impact other areas of your life as well. One possible benefit is 1. Reduce stress. Finances are . top source of stress for many Canadians. When you make the commitment to pay off your debt, you're also making a commitment to your overall health and well-being by minimizing a large cause of stress. 2. Improve your credit score. Although credit cards and lines of credit may help establish your score, maintaining low balances positively impacts it overall. Additionally, if you plan to finance a large purchase, such as a car or home, keeping your outstanding balances low may classify you as a lower credit risk and qualify you for reduced interest rates. 3. Easily

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According to the source Becoming Minimalist The average person will spend a total of 3680 hours, or 153 days of their life, searching for misplaced items. Whether you are moving or just want to save time and space there is an easy five bin approach that may simplify your living environment.

The 5 Bin approach

Bin 1: Items that need to be put away. Place items that belong somewhere else in the home in this bin. Your intention should be once you have finished the area you are clearing you will put the items in the bin in their dedicated spots.

Bin 2: Items to be fixed. Place items that you plan to fix or that need to be washed or cleaned(toys, dirty clothes, or scuffed shoes)

Bin 3: Items to donate. items in this bin are in good condition, but

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Here are some general guidelines to help you if you are planning major renovations, or if you are hiring a tradesperson or service professional to tackle any project around the home.

1. Get Referrals. Family, friends, and neighbours can give names of trades professionals they have used and make a list of companies that service your area.

2. Get in touch. Once you have made a list, call them and ask about the types of projects they specialize in. Ask how many other projects they are managing at the moment, so that it can give you an idea on whether it will impact when they could begin working for you if you choose them.

3. Research your options. Contact Consumer Protection Agency to check the reputation of the companies on your list. Check on-line

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A few more things you can consider to boost the curb appeal of your home.

Pay attention to the details.

The door hardware and handles, light fixtures, and the house number. Something as simple as polishing the hardware or maybe replacing the style with something that complements the home. Purchase new numbers with the same finish as your hardware choice or purchase an address plaque to affix to your home or place in the yard. Update the style of your exterior lighting (look for same mounting systems as current). Add more lighting to increase the safety of your entryway perhaps an overhead fixture or wall sconces.

Nurture your landscape.

Mow the lawn regularly, mulch and weed the garden beds and prune any overgrown shrubs. Adding seed or sod

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