The Tribe Blog
Buying vs Renting Your Home is More Economical
Experts are continually weighing in on the age-old debate of whether it makes more sense for Canadians to buy or rent your home. While buying a home in many parts of the country is a tall order, if you can afford it, you’ll be better off financially compared to...
How has COVID Impacted our Home Choices?
After more than 1.5 years of staring at the same walls and reflecting on our home choices with added time on our hands thanks to multiple lockdowns, Canadians are reassessing our wants and needs. Ultimately, we’re looking for more space – both indoors and out. ...
Examining Co-ownership – an Alternative to Traditional Homebuying
For most people, the pursuit of homeownership is a journey worth taking, but the requirements for making it to the finish line can prove difficult. This holds true during normal circumstances but, in the midst of a global pandemic, the process has become even more...
Mortgage Documentation: The Volume is High and Here’s Why
As the saying goes, nothing worth having comes easy. This holds especially true when buying a home and obtaining a mortgage. While the prospect of turning the dream of homeownership into a reality is both exciting and rewarding, the journey itself can be long and...
Building Your Homebuying Team
When people say it takes a community to raise a family, a similar mentality can be applied to the importance of surrounding yourself with a team of experts before you begin your homeownership journey. Buying a home is a huge milestone and among the largest...
Costs to Consider When Building Your Own Home
Building a new property from the ground up is an exciting challenge as you get to customize your home based on your family’s specific wants and needs. The building process as well as construction financing is much different than the typical homeownership journey, so...
The Rewards & Challenges of DIY Real Estate
As we lived cooped up during rotating lockdowns, many of us were inspired to tap into our creative and resourceful selves fuelling a desire to learn new skills and a willingness to implement a changed behaviour. Whether decorating, landscaping, repairing or...
What’s a Mortgage Foreclosure?
As a homeowner, if you’re unable to make regular mortgage payments, the loan will ultimately fall into a state of default, forcing you to forfeit all rights to the property. This is called foreclosure. Foreclosure is a lengthy and costly process that should be...
The Rewards & Challenges of DIY Real Estate
As we lived cooped up during rotating lockdowns, many of us were inspired to tap into our creative and resourceful selves fuelling a desire to learn new skills and a willingness to implement a changed behaviour. Whether decorating, landscaping, repairing or...
What’s a Mortgage Foreclosure?
As a homeowner, if you’re unable to make regular mortgage payments, the loan will ultimately fall into a state of default, forcing you to forfeit all rights to the property. This is called foreclosure. Foreclosure is a lengthy and costly process that should be...
Boomer Homebuying and Renovation Advice
“OK boomer”. This common, cross-generational catchphrase with a hint of affection and a heap of irony is used by younger generations when speaking to those whose opinions and outlooks are perceived to be out of touch. Just the same, Canada’s boomers (aka Baby Boomers)...
Millennial Homebuying Advice from the Experts
There are many social and cultural factors that influence homebuying trends, but perhaps none more so than the period of time we were born. Connected by shared values, attitudes and behaviours, generational groups tend to make decisions based on their place in the...
Selling Your Home? Be Sure to Plan for Real Estate Commission
When selling your home, it’s important to include real estate commission in your budget because it’s a significant fee in the selling process that will impact your overall profits. Realtors are well worth their commission as they help sellers get the right...
Bank of Canada maintains policy rate and forward guidance, adjusts quantitative easing program
The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance on the path for the overnight rate....
Bank of Canada maintains policy rate and forward guidance, adjusts quantitative easing program
The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance on the path for the overnight rate....
How Does a Cash Back Mortgage Work?
You may be ready to buy a home but you’re finding that your budget is stretched to its limit with all of the closing costs adding up on top of the down payment you’re required to make. Some lenders offer a cash back mortgage that could be the solution you’ve been...
What are my Options when Falling Behind on my Mortgage?
If you’ve missed mortgage payments or you’re anticipating difficulties moving forward, you should always deal with this as early as possible. Periods of financial difficulty are not uncommon and there are several options available to avoid an ultimate foreclosure. ...
Two New Energy-Efficient Initiatives for Homeowners
There are two new federal government programs available to help homeowners improve the energy efficiency of our homes. In combination, these two initiatives are designed to help eligible participants make deeper, more costly retrofits that have the biggest...
Steps to Refinancing Your Mortgage
As a homeowner, refinancing your mortgage allows you to capitalize on lower interest rates, access your home’s equity, consolidate debt or even reduce your monthly payments. In simple terms, a mortgage refinance involves breaking your current loan agreement...
Should You Renew Your Mortgage Early?
Every time your mortgage renewal date is approaching – every five years, on average, depending on your specific term – it’s important to get your mortgage agent negotiating on your behalf. You should start the process 3-4 months in advance to give ample time to get...
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