Thiru Nirahulan's blog

How to Grow and Leverage Your Home Equity

Home equity is one of the most valuable financial tools available to homeowners. It represents the portion of your home’s value that you truly own and can be a powerful resource for wealth-building and achieving financial goals. But how do you grow your equity, and how can you make the most of it? Let’s explore:

What Is Home Equity?

Home equity is the difference between your home’s market value and the amount you still owe on your mortgage.

• Example: If your home is worth $400,000 and you owe $250,000 on your mortgage, your equity is $150,000.
• Key...

Enhancing the value of your property doesn’t always require professional contractors or massive budgets. With some creativity, basic tools, and a little effort, you can take on DIY projects that not only improve your home’s aesthetics but also increase its market appeal. Here are some practical ideas to get you started:

1. Upgrade Your Curb Appeal

• Why It Adds Value: First impressions matter, and an attractive exterior can significantly boost your home’s perceived value.
• DIY Ideas:
  
  • Paint your front door in a bold, inviting color.
  • Add landscaping elements like potted plants, a garden...

Finding your dream home can be one of the most exciting journeys of your life, but it can also be overwhelming, especially in a competitive market. If you want to make your search faster and more efficient without compromising on your dream, you need a strategy. Here’s the "secret sauce" to make it happen:

1. Define Your Dream Home Vision

Before you start your search, take time to understand exactly what you're looking for.

• Prioritize Your Needs and Wants: List non-negotiable features (e.g., number of bedrooms, proximity to work) and separate them from “nice-to-haves” like a pool or...

Here are 10 Tips for Getting the Best Deal on a Home to help you maximize value and minimize costs when purchasing a property:

1. Get Pre-Approved for a Mortgage

Knowing your budget upfront helps you negotiate from a position of strength. Sellers take pre-approved buyers more seriously, giving you an edge in competitive markets.

2. Research the Market

Understand the local real estate market trends. Is it a buyer's market or a seller's market? Knowing the average prices in the area helps you spot a good deal and avoid overpaying.

3. Work with an Experienced Real Estate Agent

A skilled...

Here’s a refined and engaging blog post outline for the title "What You Need to Know About Investing in Commercial Real Estate":

Introduction

• Brief overview of why commercial real estate is a lucrative investment option.
• Highlight key differences between commercial and residential real estate investments.

1. Understanding the Basics of Commercial Real Estate

• Types of commercial properties (office buildings, retail spaces, warehouses, multifamily units, etc.).
• Key terms to know: CAP rate, NOI, lease agreements, etc.

2. Why Invest in Commercial Real Estate?

• Potential for higher income...

A laneway home, also known as a garden suite, accessory dwelling unit (ADU) or coach house, is a small, self-contained living unit built on an existing home’s property. These units can be used for a variety of purposes, including generating extra income and expanding your useable living space. If you’re considering building a laneway apartment, this article is for you.

While there are many benefits to adding a laneway home to your property (which we dive into below!), there are also some common challenges such as zoning and bylaw restrictions, site access for construction, utility...

In today’s economy, real estate is one of the best ways to generate wealth and fund your retirement. But while asset appreciation has been enormous – according to the Canadian Real Estate Association (CREA), the average annual rate of return has been around 7 to 10 percent for residential properties and 8 to 12 percent for commercial properties over the past few decades – before purchasing an investment property, residential sellers should keep taxes top of mind and be asking themselves this crucial question: How much tax do you pay when you sell a house in Canada?

Are You Taxed on...

The Canadian housing market could see more action in 2025, following a period of persistent challenges including higher interest rates, a quickly growing population and the pressure that puts on our housing market), on top of a housing shortage that has existed for decades. We’ve already seen lower interest rates spark increased activity in the market. The pent-up demand is palpable, but the inventory of homes is likely to get scooped up fast. If you’re feeling like you can’t get a foothold in the housing market, there are a few reasons for that.

Issues Impacting Affordability

Price...

Understanding the difference between a condominium vs apartment is important for buyers and renters. Type “condo meaning in Canada” into your favourite search engine, and you’ll find that the main difference between the two is that you can buy a condo, whereas an apartment is strictly available for rent. However, there is more to it than that. If you are asking yourself, “What’s the difference between an apartment and a condo?

What is a Condominium vs Apartment: Key Differences

Condo Ownership Structure

Condos are multi-unit dwellings that can be found in high-rise, low-rise, medium-rise,...

Homebuyers, sellers, market watchers and the broader Canadian real estate industry keep a close eye on the Bank of Canada’s interest rate announcements every six weeks. They always make headlines and can have a pronounced effect on the housing market, depending on which direction the Bank moves. So, how will the rate impact your mortgage? Let’s find out.

How Will the BoC Interest Rate Impact My Mortgage?

We consider many variables in life before making any big decision, and one of the most important ones to think about when buying a home is the current state of interest rates. While a low...