Thiru Nirahulan's blog

Renovations can significantly impact the selling price of a condo by making it more attractive to potential buyers. Here are five renovation ideas that can help boost the selling price of your condo:

1. Kitchen Upgrade: The kitchen is often a focal point for buyers. Consider updating cabinets, countertops, and appliances. Adding modern fixtures, lighting, and a fresh coat of paint can give the kitchen a contemporary and appealing look.

2. Bathroom Remodel: A renovated bathroom can make a big difference. Consider replacing old fixtures, updating the vanity, adding new tiles...

Saving for a down payment on a home doesn't mean you have to sacrifice all your fun and enjoyment. Balancing your financial goals with a fulfilling lifestyle is possible. Here are some strategies to help you save while still enjoying life:

1. Create a Realistic Budget: Start by creating a budget that outlines your income, fixed expenses, and savings goals. Allocate a portion of your budget for discretionary spending on activities you enjoy.

2. Set Clear Goals: Define your down payment goal and the timeline you're aiming for. Having a clear target can help you make informed...

Pre-payment privileges are valuable tools for homeowners for several reasons. They provide flexibility and opportunities to accelerate mortgage repayment, save on interest costs, and achieve homeownership goals more quickly. Here's why pre-payment privileges are beneficial:

1. Faster Mortgage Payoff: Making extra payments towards your mortgage principal allows you to reduce the outstanding balance more quickly. This can lead to paying off your mortgage ahead of schedule, saving you years of payments and potentially thousands of dollars in interest.

2. Interest Savings: The...

Growing your own vegetables in a condo setting can be a rewarding and sustainable way to enjoy fresh produce. While you might have limited space, there are several creative ways to cultivate a small urban garden. Here's a guide to help condo-dwellers grow their own vegetables:

1. Choose the Right Vegetables: Opt for vegetables that are well-suited for container gardening and have compact growth habits. Some good options include herbs (basil, mint, parsley), leafy greens (lettuce, spinach, kale), tomatoes (dwarf or cherry varieties), peppers (mini bell peppers), and...

A cashback mortgage is a type of mortgage product offered by some lenders where borrowers receive a lump sum cash rebate at the time of closing the mortgage. This cash rebate is a percentage of the mortgage amount and is typically used by borrowers to cover various expenses related to the home purchase, such as closing costs, moving expenses, renovations, or other immediate financial needs.

Here's how a cashback mortgage generally works:

1. Cash Rebate: When you close the mortgage, the lender provides you with a lump sum of money, often a percentage of the mortgage principal....

An alternative lender, also known as a non-traditional or private lender, is a financial institution or individual that provides loans or mortgages outside of the conventional banking system. These lenders offer financing options to borrowers who may not qualify for loans from traditional banks or who require more flexible terms. Here's why you might need an alternative lender:

1. Poor Credit History: If you have a low credit score or a history of credit issues, traditional banks may be hesitant to lend to you. Alternative lenders may be more willing to work with borrowers with...

The Canadian real estate market is looking to move on from last year’s correction that saw sales activity, and prices slide from their pandemic-era highs. But conditions are still relatively tight, with demand outpacing supply, although conditions could be improving.

According to the Canadian Real Estate Association (CREA), the number of new residential property listings climbed nearly six per cent month-over-month in June. This was in addition to the 7.6 per cent jump in May and the more than three per cent boost in April. Moreover, the number of months of inventory – a gauge that...

The impact of commute time on home-buying decisions in Canada is similar to what is experienced in other countries. Commute time plays a crucial role in determining the location and type of property that potential homebuyers consider. Here are some specific factors and considerations related to commute time in the Canadian housing market:

1. Urban vs. Suburban Living: In larger Canadian cities, such as Toronto, Vancouver, and Montreal, commute times can be a significant consideration. Some homebuyers may choose to live closer to the city center to reduce their commute time to...

Building your own house with a home builder's mortgage, also known as a construction loan or self-build mortgage, involves specific steps and considerations. Here's a general guide to help you through the process:

1. Define your vision: Determine what type of house you want to build, including its size, layout, and features. Create a detailed plan and budget for the construction project.

2. Find a suitable lender: Look for lenders or financial institutions that offer home builder's mortgages or construction loans. Compare their terms, interest rates, fees, and eligibility...

When refinancing your mortgage, it's essential to avoid certain pitfalls that could negatively impact your financial situation. Here are some things to avoid when refinancing:

1. Skipping the comparison shopping: Don't settle for the first refinancing offer you receive. Shop around and compare rates, terms, and fees from multiple lenders to ensure you get the best deal.

2. Not considering your long-term goals: Before refinancing, think about your long-term financial goals. Avoid refinancing into a loan that may save you money now but could lead to higher costs in the future....