Real Estate News

February is here and it’s the month of LOVE!   Do you know what we LOVE? Giving you all the up to date knowledge and tips on the Windsor Essex Real Estate Market! The ground hog may have predicted 6 more weeks of winter, but the spring market is fast approaching. Keep reading below for your Real Estate Update! Did You Know??? The History of Saint Valentines Day Valentine’s Day is a holiday celebrated every February 14; this year Valentine's Day falls on a Friday. Across the United States and in other places around the world, candy, flowers and gifts are exchanged between loved ones, all in the name of St. Valentine. Real Estate 101 Should I cash my RRSP to pay off my mortgage? Is it a good idea to pay off my mortgage with my RRSP money and then put what my mortgage payment was back into the RRSP once I’ve paid it off? What are the pros and cons of this strategy to being mortgage free? Bank of Canada Cuts Interest Rate to 3% The Bank of Canada reduced its target for the overnight…

Learn how capital gains are taxed and how to avoid paying more taxes than necessary when selling your assets. Capital gains tax highlights Investors can sigh relief for the 2024 tax year. Despite the capital gains inclusion rate being changed as of June 25, 2024, it has since been delayed until 2026 by the Department of Finance Canada. Here’s what is proposed. For individuals, the inclusion rate is either 50% or 66.67%, depending on the size of the capital gain. With the current federal and provincial/territorial tax rates in Canada, no one pays more than 27% capital gains tax on gains of under $250,000. You can reduce the amount of capital gains tax you owe by holding your investments in registered accounts, offsetting capital gains with capital losses and claiming the principal residence exemption. Selling high-performing stocks or a cottage property can reap significant profits, and those moments are worth celebrating. But while you’re enjoying the spoils of your investments, keep…

Four reasons why you might not want to tap your RRSPs to become mortgage-free. Is it a good idea to pay off my mortgage with my RRSP money and then put what my mortgage payment was back into the RRSP once I’ve paid it off? What are the pros and cons of this strategy to being mortgage free? –Mike Pay off a mortgage or keep investing with RRSPs? Paying off your mortgage with your registered retirement savings plan (RRSP) and then putting what your mortgage amounts would have been back into the RRSP may not be a good strategy for several reasons. Invest your money or pay off debt? A comprehensive guide for Canadians If you withdraw any money from your RRSP, it is taxed as income. There is withholding tax on the withdrawal initially, but the total tax depends on your other sources of income for the year when you file your tax return. If you withdraw from an RRSP, you do not recapture that initial RRSP contribution room and you may not be able to re-contribute the same amount back to…

When summer’s over and fall nights roll into town, off goes the A/C and on goes the heat. Fall’s a great time to maintain home systems, and outdoor A/C units tend to be one of those workhorses that some homeowners overlook as they transition into their reliance on heating systems. One of the most-asked questions from homeowners with hardworking A/C units is: When the season’s over, should I cover it for protection? Modern outdoor A/C systems are built very well and tested to ensure that they will hold up in extreme circumstances, as demonstrated below. The condenser (the big box that sits outside) is outfitted with a durable finish to withstand snow, rain and the heat of the sun. The mechanics and coils within the box are well-designed to hold up to extreme heat and cold, too. The quality of the materials and the product’s finish are a big reason that it’s typically unnecessary to cover the A/C unit in the off-season. Trane The most important thing that any homeowner can do…

Happy 2025 to All!   We hope you all had a wonderful holiday surrounded by those you love!  As the New Year is upon us, it’s a great time to for you to reflect on our personal goals, resolutions for the months ahead. Your home and finances are key areas where small, intentional changes can make huge improvements in safety, comfort and quality of life. Here are some resolutions to get you started. Hoping to Buy a Home in 2025? Here’s What You Need to Know! For many Canadians, the start of a new year is a time for new resolutions. While eating healthier and getting more exercise still rank as the most common New Year’s resolutions in Canada, with both inflation and interest rates continuing to drop, more and more Canadians are making resolutions for 2025 that include the possibility of buying a home. If becoming a homeowner is on your radar in 2025, there are a few things you should know before you start looking for your dream home. Real Estate 101 Ontario unveils home renovation…

Renewing your mortgage? A guide for Canadians We’ve put together all the tools and strategies you need to manage the shock of renewing your home loan at significantly higher interest rates. More than two years have passed since interest rates took off in 2022, and though the Bank of Canada (BoC) has started backing down that ladder, holders on five-year fixed mortgages continue to face significantly higher rates and payments as their home loans come up for renewal. Even those currently in variable-rate mortgages may find their lenders insisting on higher monthly or biweekly payments henceforward. For those in that position, as well as those whose mortgages expire in the next 12 months, it’s best to go into the renewal process armed with knowledge of the kind of terms you’ll face and your options. Knowing in advance what you’re in for can take some of the sting out of “rate shock.” Depending on what your current lender and others have to offer, it may even make sense to renew…