Happy Is as Happy Does: Mortgage Interest Deductibility & the GAAR

Happy and Snitty are soon-to-be neighbours. Snitty shops around for a mortgage, haggles over half a percentage point, and ultimately accepts the financing offered by the institution he's banked with for years. He purchases a home with the funds and makes the first of many mortgage payments, knowing a large portion of each payment will go toward the interest, and not the principal amount, of his loan. Happy, on the other hand, knows that with just a couple of extra steps, the interest ...

Things to Consider When Looking to Buy

So you've got your mortgage loan approval and are ready to look for a home. Here's a couple of ideas to keep in mind when looking for the right home for you. If you love gardening, you'll enjoy finding a home with a large yard, maybe something with ornamental shrubs or even a vegetable garden. Existing gardens or not, a green thumb can make any yard beautiful. However, if you've got no time for working in the garden, you'll prefer a low-maintenance, small yard. In fact, a town home with a ...

The Right Time to Buy your First Home

There are many economic and market forecasts and predictions, however the bottom line is if you want to buy your first home—there is no wrong time. There is because the motivation to buy is not determined by regional market conditions or by location. Industry opinions, economic reports and investor speculation do not sway or predict when a particular individual will be ready to buy. For the great majority of folks, the most compelling reasons to buy a home are based on individual circumstances ...