Quotations by Sean Cooper
How I Paid off My Mortgage in Just Three Years: When I bought my house, I signed up for a five-year fixed-rate mortgage at 3.04% with the help of a mortgage broker. I went with a longer amortization period (30 years) to give myself more of a safety net in case I had a financial emergency. I took advantage of all the prepayment privileges my lender offered--I paid my mortgage accelerated weekly, doubled up payments, made lump-sum payments with freelance and rental income and increased my payments yearly. I maximized my prepayment privileges every single year, until I had paid off my mortgage just over three years later. [2017] - Sean Cooper
When you receive your lender's renewal offer, whatever you do, don't sign it! Lenders almost never put their best rate on the renewal. Sometimes you'll get a lower mortgage rate simply by phoning your lender and asking for one. A lower mortgage rate could mean saving thousands of dollars in interest over the life or your mortgage. Your mortgage renewal is too important to leave until the last minute. Start shopping early--four to six months ahead of when your mortgage term ends. This gives you plenty of time to see what else is out there. [2017] - Sean Cooper
It's worthwhile to get an inspection done when buying a condo--new or resale. Hire an inspector familiar with condos. An inspection will typically cover the major components of your condo, including electrical, HVAC, plumbing and the common elements. You can find lists of inspector on industry websites, including the Canadian Association of Home and Property Inspectors (cahpi.ca). You might think twice before taking a recommendation for an inspector from your agent. Select a home inspector before housing hunting. Interview at least three inspectors. Choose one, and have another as backup in case your first choice is busy when you see a property you like and are ready to make an offer. [2017] - Sean Cooper
It's a good idea to start looking for a lawyer before you start housing hunting. Seek out lawyers who specialize in real estate. Interview two to three lawyers. [2017] - Sean Cooper
As a homeowner, through creative living arrangements like living in your home's basement and renting out the upstairs, or sharing your condo with roommates, you can pay down your mortgage even sooner. [2017] - Sean Cooper
Resilient channels and Roxul insulation can help dramatically cut down on ambient noise, but they don't come cheap. Twenty dollars' worth of door sweeps and form tape, though, will go a long way toward reducing it Install on the interior doors separating the basement and upstairs. These alone won't cut all the noise, but you'll be less likely to hear others' conversations and be able to enjoy some well-deserved peace and quiet. [2017] - Sean Cooper
I've had better success finding tenants on paid rental websites. Screen applicants from free websites extra carefully. Other places and ways to advertise include libraries, community centres, grocery stores, newspapers, Facebook and word of mouth. [2017] - Sean Cooper
If you don't own a car, rent out your parking place at your condo (just make sure you aren't breaking any rules). [2017] - Sean Cooper
Would you like to get paid for sharing your opinion? Give online surveys a shot. They're a great way to make a few bucks here and there. You can sign up for surveys online. My favourites are Legerweb, Survey Savvy and Web Perspectives. [2017] - Sean Cooper