Edmonton Real Estate Blog

Tax-Free Savings Accounts (TFSAs) are a nearly brand new and quite flexible investment vehicle; Registered Retirement Savings Plans (RRSPs) have been a vital tax-advantaged retirement savings opportunity for many years; and non-registered investments are an important component of virtually every financial plan. If you are currently weighing the advantages of each of these investment options as you restructure your investment portfolio to match your overall financial goals during this difficult economic climate, you need to know how each is taxed. So let’s compare the tax treatment rules for TFSAs, RRSPs and non-registered investments.

There are tax and income-building advantages and disadvantages to each of these investment options. You need to look at them in relation to your overall tax situation and financial objectives. Your professional advisor can help you make the right decisions for your unique situation.

Feel free to contact me or visit my website for more information.

Accessories are what give an interior soul and help distinguish a home from a furniture showroom. When accessories are done right, they tell the story of the owners’ lives — their passions, their travels … and maybe even their heartbreak. But accessorizing a house can be a scary thing. We’re often unsure what to include, what to leave out and how to arrange the things that remain. Fear not. Once you understand the principles, accessorizing can be a snap.

Look around your house, attic, basement and yard for potential accessories. Sometimes it’s not the thing itself, but how you display it, that counts. Common objects like stones, shells or pinecones make great accessories — if you gather enough of them and display them in an attractive bowl. Arrange costume jewelry on a tray or fill a bowl with decorative matchbooks. The next time you travel, skip the T-shirt shop and head for the antiques store, craft gallery or flea market. You’ll come home with something attractive and a story to go with it.

The bottom line: If you have fun with your accessories, your family and friends will get pleasure from them, too.

Source: houzz.com

Despite how religious you are about coaster use in your house, chances are you have at least one water ring plaguing a piece of furniture. I didn’t learn the importance of coasters until after college, and by then my beautiful hand-me-down Drexel coffee table had been tarnished with multiple rings from bottles of beer and wine. Is it too late to save it? Luckily Peter Stames of Archia Homeshas a solution for even the toughest of alcohol and water stains.

To get rid of an older stain: Moisten a cotton cloth in olive oil, and touch the cloth to a bit of rottenstone. Gently rub the stained area with the cloth until the ring appears to be gone. Never wax or polish over an alcohol or water ring, since this will permanently set the stain on the wood finish.

Rottenstone is a rock used as a polishing abrasive in woodworking, and is usually made with limestone mixed with other materials. This fine powder can be mixed with natural oils to polish wood to a fine finish.

To View & Search All MLS Listed Houses for Sale Visit Us At:

www.EdmontonHomesforSale.biz

Source: houzz.com

Often by playing it safe financially, you think you’ve protected yourself from investment losses. Think again. Sometimes the price of playing it safe is the erosion of your money over time thanks to inflation. Certain investments often thought of as being safe may not keep pace with inflation, especially after considering taxes. The best way to ensure your investment stands the test of time is by investing in a diversified portfolio. A diversified approach should include exposure to higher yielding equity mutual funds. If your portfolio is appropriately diversified and tailored to your time horizon and tolerance for volatility, you’ll ultimately be playing it even safer over the long term.

Feel free to contact me or visit my website for more information.

Have you ever watched those TV shows where some lucky homeowner gets a room redecorated by a professional? To have something similar done in your own home you would have to make a serious investment, or become a TV show guest!

However, there are ways to re-decorate a room and make it look great – even spectacular – on a budget.

Say, for example, you want a living room makeover. If your sofa is worn you can buy a fitted sofa cover that will make it look almost new. Table cloths on worn end-tables and other surfaces can have a similar affect.

Don’t forget the most economical redecorating trick of them all: Paint! A fresh coat of paint can bring a room to life!

Hanging a few new pictures can also have a dramatic impact on the look of a room. You don’t have to buy a Rembrandt. Attractive, simply framed pictures will also add interest and colour.

With a little imagination, it’s amazing how much you can improve a room on a little or even no budget.

To View & Search All MLS Listed Houses for Sale Visit Us At:

www.EdmontonHomesforSale.biz

If you’re planning on finding your next dream home, then you’re probably going to view several homes on the market that meet your criteria.

You will want to make the right purchasing decision for you and your family. So, it’s wise to be savvy when viewing properties for sale. Here are some ideas on how to do that.

• Bring a notepad. Take notes, not only of the home’s characteristics, but also of how you feel. For example, can you imagine yourself happily cooking up a storm in the kitchen? Do you see yourself entertaining family on the back deck?

• Bring a measuring tape. Will the furniture you plan to bring fit? Your dining room suite? Your home fitness equipment?

• Ask about maintenance. Is the property in a good state of repair? Will anything need to be replaced soon, such as the windows?

• Bring a camera. Take lots of pictures of the home’s exterior features. Don’t make the mistake of thinking you’ll remember how everything looked.

• Check out the area. Do other homeowners take good care of their properties? This shows pride of ownership. How is the noise level? Is there a playground, or another area feature nearby?

• Make a list of compromises. For example, are there only two bathrooms instead of three and, if so, can you live with that?

• Make a list of bonuses. What features does the home have that, are not a necessity, but would be nice to have? For example, an entertainment bar in the basement recreation room.

• Remember your budget. Is the price within your range? Can you afford to buy this home?

The savvier you are when viewing properties on the market, the more likely you will be to find your next dream home.

To View & Search All MLS Listed Houses for Sale Visit Us At:

www.EdmontonHomesforSale.biz

Investors are led to believe they pay no fees when investing in Guaranteed Investment Certificates (GICs). The truth is that the interest you are paid on a GIC is much less than what the bank earns when they subsequently invest your money in loans or mortgages.

Feel free to contact me or visit my website for more information.

While you are house hunting, please ensure to keep your credit in good standing. Any default payments or increased debt will affect your capacity to purchase.
Here is a quick checklist to help me provide prompt service:
o Income Verification: Letter from employer & recent pay stub
*If commission and overtime provide most recent 2 years consecutive
“Notice of Assessments”
o Down Payment Verification: Own source: 3 months bank statements of deposits, RRSP’s, investment
OR
Gifted: gift letter, bank statement to show funds received
o Lawyer information
o Void Cheque or Preauthorization Payment form
o Copy of Photo-identification
o Copy of Offer to Purchase (provided by Realtor)
o Copy of MLS listing (provided by Realtor)
Please call anytime if you require additional information or clarification.

Enhance those long, leisurely evenings on the patio with the right lighting. From subtle landscape lighting and string lights that cast a soft glow to sconces, pendants and more, these ideas will help spark your imagination and plan that perfect patio.

1. String Lights

Nothing can beat the soft, glowing light of café-style lights strung overhead, and since they are so inexpensive, you can use them liberally without denting your budget.

Good to know: Be sure to choose outdoor-rated string lights. LED bulbs will last practically forever, but incandescent bulbs will give you that trademark soft glow. Solar string lights are a great option if you want to hang them far from an outlet.

A note on extra outlets. Having adequate exterior outlets is a must for hanging string lights, lanterns and more (unless they’re solar powered). Make the investment in exterior outlets instead of running cords through a cracked window — not only will your home be safer, but you’ll be able to choose exactly where you want the outlets to go.

Good to know: If you live in an older house, your exterior outlets might not have up-to-date safety features, so consider having them upgraded. All exterior electrical outlets should have a ground-fault circuit interrupter (GFCI) and a weatherproof box cover to keep the outlet protected.

2. Sconces

Sconces are a great option when you want to cast a glow on an open patio.

Good to know: A lantern-style fixture will cast a larger glow than one mounted flush against the house, so think about going for something larger than you might use on, say, the front porch.

3. Landscape Lighting

Not just for the backyard, low-voltage landscape lighting can ramp up the ambience of your patio.

Good to know: Generally not enough to light up an outdoor room on its own, landscape lighting can work well in conjunction with sconces or string lights. Try a few low lights in bushes surrounding the patio or illuminating a pathway.

Because landscape lighting is low voltage, this is a relatively easy and safe DIY project, should you choose to give it a whirl.

4. Pendant Lights

Few things say outdoor room quite as elegantly as a well-placed pendant light.

Good to know: If you decide to replace an existing overhead fixture yourself, be sure the new fixture is similar in weight to the old one — if it’s much heavier, a pro may need to put in a new junction box that can take the additional weight.

5. Recessed Lighting

Simple and sleek, recessed lights would be perfect tucked into the covered patio of a contemporary or modern home.

Good to know: Dimmer switches allow you to adjust the lighting to perfectly suit the mood — and a dimmer is something you can do yourself.

What is Mortgage Loan Insurance?

Mortgage Loan Insurance (also referred to as “Default Insurance”) protects lenders/banks from loss due to borrower default on a mortgage. Default Insurance provides a necessary safety net to the financial system, helping to ensure the availability of mortgage funding.

Banking laws require Default Insurance when the down payment is smaller than 20% of the lesser of the purchase price or the appraised value of the property. Even when down payments are 20% or larger, lenders may still require Default Insurance due to individual borrowing circumstances, such as property location or property type. There are 3 insurer in Canada; CMHC, Genworth and Canada Guaranty.

Who pays the Default Insurance premium?
The borrower pays the insurance premium. The premium can be paid in a single lump sum or it can be added to your mortgage and included in your monthly payments. Most borrowers add the premium to their mortgage.

How do consumers benefit?
Consumers can become home owners sooner. Default Insurance enables consumers to borrow from us to purchase homes with a down payment as low as 5%, rather than needing to save 20%.

How much does Default Insurance cost?
Default Insurance is calculated as a percentage of the mortgage amount and is based on the size of the down payment and the amortization period.

The following table lists the standard premiums.