Finance

A tax lien can be placed on the property when a homeowner does not pay their property taxes after a certain period. This is the beginning of a process known as a tax sale, wherein a municipality sells a property to recoup the delinquent taxes owed.

If you have unpaid property taxes, it’s best to find a way to pay them as soon as possible. Delinquent taxes are no joke. Municipalities rely on homeowners to pay their property tax bills on time; these taxes are used to fund their budget. Property taxes directly fund essential services, such as schools, garbage collection, snow-plowing, firefighter emergency services, and law enforcement.

The homeowner who owns the property forfeits ownership in a tax sale and has their delinquent taxes paid by the individual who bids and secures the property. Here is what to know about delinquent property taxes.Continue reading

Owning a home is a goal for many people, and it is not only a way to secure your residence for the long term. It is an investment that will pay off throughout your life. This is probably the biggest purchase you will make, and putting together the funds can be overwhelming, but fortunately, there are effective methods to get your downpayment built up.

Saving money for a house is no small task, but the payoff is worth it. Use this as a plan of action to start building a downpayment, and then when you are ready, you can confidently make your home purchase and start your new home ownership adventure. 

The best time to start putting money aside for a home is now, so you must begin today. Does it seem impossible? Here is how to save money for a house.

If you are a homeowner, you likely know that getting to this stage in your life was not easy. The fact that you are in possession of property is a huge feat, and is something that isn’t easy to do. Overtime, after taking a look at your financial circumstances, you may choose to pursue larger projects.Continue reading

You might have heard advertisements on the radio or television about second mortgages. These are exactly what they are called: You have another mortgage on your home. It is usually a borrowing apparatus that comes with a lower rate of interest and is used for a short period. Although the cash injection can be utilised for anything you want, most people spend the cash on debt consolidation, home improvements, or education.

If you are interested in understanding how a second mortgage works, you need to realise that it is a financial tool that should be used responsibly. Whether it is for your grandchild’s tuition or to pay off your huge debt pile, a second mortgage can be useful.

On the other hand, if you are using a second mortgage to keep your head above water or to go on a lavish vacation to Paris, Venice, and Bruges, then it will be a noose around your neck. Be wise. Be responsible. Be prudent.Continue reading

The appraisal of a property is one of the most pivotal components when it comes to commercial real estate. All parties involved in the overall transaction will come together to figure out what this estimation may be. How, therefore, can this be done accurately? Several techniques to determine a property or land’s value can be employed.Continue reading

When it comes to auto insurance, there is no option to avoid the necessary expenses. Auto insurance is a mandatory cost of owning a car or truck. As a vehicle owner, you most likely have two key considerations: getting the right insurance coverage and finding the best possible insurance rates. You want the peace of mind of knowing that you are adequately covered in the event of an accident, theft or vandalism. However, you don’t want to overpay or pay for the insurance coverage you don’t need.Continue reading

Cash flow and business expansion are key to the success of your business. However, it is becoming increasingly harder to secure business financing as banks cut back on start-up loans, which are among the riskiest a bank can take on.

A lender just wants to know three things: the amount you need, how you plan to pay it back, and how they will recover it in case you fail to pay. To stand a better chance of getting financing for your business, you need to meet the following 4 Cs of business financing:

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Let’s face it: guaranteed investment certificates (GICs) have not been sexy over the last decade.

With interest rates below historical norms, FAANGs taking a huge bite out of the market, and crude oil skyrocketing from $30 to $75 in just a couple of years, why would you waste your time with GICs?

Well, not everyone is so concentrated on the business headlines, and many people lack the time and energy to peer through corporate quarterly earnings. This is why GICs are superb investment tools because you still have your money working for you as long as inflation remains in check, and you won’t need to be fixated on the Toronto Stock Exchange (TSE).

Since the Bank of Canada (BOC) is normalizing interest rates, you can get a better-than-normal return. It may not be as great as it was in the 1980s when GIC rates were in the double-digits, but it’s better than what you have been getting in recent years.

Here are five reasons to pick GICs as your investment in today’s market environment:

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Starting a business with no money can be a daunting task. Many great business ideas remain unacted upon due to lack of money. For most people who wish to start a home business with no money, accessing capital is the greatest challenge. Yet, money must not be a caveat to starting a business. Home business, for instance, accounts for 50% of all companies according to the Small Business and Entrepreneurship Council.

A home business effectively cuts operational costs and is a good place to lay a formidable foundation for future expansion. If you have clarity in your vision and are confident the market is ripe for your idea, you can start a home business and join millions of others who have succeeded this way.

Check these 8 pro tips for starting a home business with no money:

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Buying a home in this business environment can be a tough thing to do. Besides having to worry about market conditions, there are some questions you need to ask of yourself. Where should I buy a home, are homes for sale where I would like to live? How much home can I afford, and can I get approved for a loan? These considerations and others are part of a successful home buying process.

1. Is Buying a Home Right for Me?

First, you need to decide if buying a home is the right move for you. Some factors that help answer the question include how much income you have and employment status. Your potential lender is not only concerned about your quantity of income but is also about your employment history. If your income is sporadic, get your career in order before you think of buying a home.

2. Can I Afford a Home?

Second, determine if you can even afford to buy a home, and how much home you can afford. One suitable place to start this analysis is by figuring your DTI (Debt to Income) ratio. Consider also that home ownership entails many hidden costs that are not present when renting. Two of these include property taxes and homeowners insurance, which can be bundled as part of the loan, but they still have to be paid.

3. Get Preapproved.

Third, get a preapproval letter for your mortgage. When you apply for the loan (mortgage), the lender should provide a preapproval letter stating how much loan you can handle. This is not a subjective judgment based on whether the loan officer likes you are not. Preapproval usually includes questions about your assets, income, and the home you are thinking of buying. The preapproval process also includes a credit check, so you will want to have your credit in order. Realize that there are several types of loans available including conventional loans, FHA loans, VA loans, and USDA loans. You may consider consulting with Calgary Homes to learn more.

4. Find a Real Estate Agent That Works For You

Fourth, find a real estate agent that works for you and that “clicks” with you. Keep in mind that the agent you choose will represent you during this transaction. You want an agent who will consider your buying criteria, show you multiple homes for sale, and help negotiate with the seller. The agent’s job also includes helping you understand what is going on during the process and advise you on your next move.

5. Determine Your Priorities

Fifth, make a list of your priorities for your new home and share this with your realtor. These priorities must include your budget information and options for the home. Other options may include house layout, number of bedrooms, local school ratings, and whether surrounding property values are increasing or decreasing. You should rank these priorities and share them with your agent.