Quotes of the Day

An RRSP loan placed as a second mortgage on one of our properties with lots of equity has been the biggest source of renovation funds for us. Usually we can double our money on a renovation-so a $10,000 investment becomes $15,000 to $20,000 in value fairly easily. In other words, even if we pay $1,200 to borrow that $10,000, we usually make at least $100 per month more in rent and add between $5,000 and $10,000 in value from that money, making it a huge return on our investment. [2012] - Ian Szabo

Whatever the size of your down payment, it should never be borrowed. It should come from your own savings, accumulated over time. [2013] - Dan S. Barnabic

If you're in a bidding war, cash is the king. Write subject free cash offers. It is uncommon for sellers to take an offer with subject clauses over a subject free cash offer UNLESS the offer with subject is MUCH higher than the asking price. Include a copy of your bank draft deposit with the offer. This shows that you are really serious. [2015] - Gary Wong

A "fancy" chandelier speaks volumes about the class of your property. It tells potential buyers that this is a home to be considered. [2003] - Robert Irwin

In general, any money you need in less than 5 years shouldn't be in stocks. Even balanced portfolios of 50% stocks and 50% bonds have lost money over that length of time. If you're saving for a down payment or another major purchase in the near term, your top priority has to be protecting your principal. Keep this money in a high-interest savings account or GICs. [2021] - Dan Bortolotti