Navigating the Tax Implications of Becoming a Landlord Renting out a basement suite can be a lucrative source of supplemental income for homeowners. However, along with the benefits of being a landlord comes the responsibility of reporting rental income accurately to the Canada Revenue Agency (CRA). Failure to comply with Read more…
Your credit score is a crucial factor that lenders consider when you apply for loans, credit cards, or mortgages. A higher score not only increases your chances of approval but also helps you secure more favorable interest rates. If you’re looking to boost your creditworthiness, here are ten actionable steps Read more…
A Home Equity Line of Credit (HELOC) is a financial tool that allows homeowners to leverage their home’s equity to access funds for various purposes. While a HELOC offers flexibility and potential financial benefits, it also comes with inherent risks that need careful consideration. We will explore the advantages and Read more…
Obtaining a mortgage is a significant milestone in one’s journey towards homeownership, offering financial stability and the joys of having a place to call your own. However, amidst the excitement of homeownership, it’s crucial to be aware of the potential pitfalls, including mortgage penalties. In Canada, bank mortgage penalties have Read more…
Title Fraud Title fraud is becoming more common. With property values growing, the payouts are larger for the thieves. Here is what you need to know to about title fraud and how you can prevent it. Types of title fraud Title fraud when a bad actor gains access to your Read more…