May 18, 2013 / 5:00 am
The majority of Canadians prefer to make their big move during the summer season. There are a variety of reasons for choosing this time of year: it is easier to transport boxes in non-icy conditions, no need to worry about your belongings freezing during transport, and children's lives are not disrupted by the transition since they are on summer holidays. Minimize potential moving chaos by asking yourself the following questions:
- Do you need to keep everything? Moving offers a good opportunity to reorganize your life by giving away, donating or recycling items that you no longer need. You'll thank yourself later when there is less to pack and transport.
- How well do you know your moving company? The Office of Consumer Affairs drafted a Consumer Checklist for choosing a moving company and it reminds Canadians to request their moving estimate in advance and be mindful of seasonal rates (a summer move can be pricier). Will your items be held in the transport vehicle overnight or a secure facility? Consider purchasing Replacement Value Protection, which will ensure the company is liable if your possessions are damaged.
- Do you have enough boxes and packing materials? Start collecting boxes and newspapers in advance; ideally you should begin packing non-essential items a month in advance. Pack and clearly label a couple boxes with important first day arrival items, such as toothbrushes, remote controls, medication, and pet food, which could otherwise become lost in the shuffle.
Once you step in the door, what are your top priorities? After the bed is set up, most people are eager to get connected by hooking up their TV, internet and home phone. Rogers introduced a free concierge service which makes this process easier by setting you up with a personal concierge agent. The agent proactively connects with customers throughout the transition, reviews order details, answers billing questions, and can assist with any changes to your order if your moving date needs to shift. Entering the next chapter of your life can be a thrilling time, but like any significant life change, the process can be quite overwhelming. Control potential moving chaos by jotting down questions and tracking their completion on your personal checklist.
Remember we are always just a phone call away (250) 862-1806. We have names of moving companies & insurance agents to help you.
May 4, 2013 / 5:00 am
"Other than Mortgage Rate, what factors will I be considering when choosing who gets the privilege of managing my Mortgage?"
I think the "Shopping Around" for a mortgage is a good thing to do. If you do shop around I would like to HELP YOU do so more intelligently by giving you a process to help screen your next potential bank or mortgage company. I think simply asking around for the "best interest rate" isn't good enough anymore.
- Be Smart...
- Ask Questions....
- Get the Answers!
If you would like to have a list of the questions to ask then please email me at firstname.lastname@example.org or call 250-862-1806.
Apr 20, 2013 / 5:00 am
Paying your bills on time every month contributes to having a good credit rating. If you miss payments, or are often late making your payments, your credit rating is probably not as good, and money lending institutions will consider this when you apply for a loan. Numerous factors contribute to your overall credit score, such as outstanding debt, payment history, severity and frequency of derogatory credit information, and the amount of credit you use compared to what you have available.
Also important is the length of your credit history. For many immigrants, this only begins after entering Canada.
To begin to establish a credit history:
- Open an individual savings or chequing account in your name. From this account, your deposits, withdrawals, and transfers will demonstrate that you can handle more efficiently and responsibly.
- Applying for a smaller loan demonstrates responsibility, and will positively affect your credit rating over a longer term, once you demonstrate that you can make timely and consistent payments.
- Other forms of credit include department store and gasoline credit cards. These are generally easier to obtain than major credit cards and, if used responsibly, can also serve to enhance your credit rating.
- In short, there is no quick way to establish credit. It is much better to go slowly and develop a strong credit record than to apply for too many credit cards or a loan that is larger than you can handle. Mortgages are long-term commitments, so appreciate that lenders will need proof of longevity and consistency.
Your Credit Rating
Once you’ve begun establishing your credit history, it is a good idea, and your right as a consumer, to know exactly what your credit rating score is, even if you always pay your bills on time. In Canada, Equifax Canada and TransUnion are the two major credit rating companies and will give you a copy of your credit history and overall credit rating score, usually for a fee.
Apr 6, 2013 / 5:00 am
Although buying a home almost always seems like a great idea, it is important to understand what home ownership involves. Of course, being a homeowner is something to be proud of but it also means having to invest money, time and energy and take on added responsibilities. So, before you decide to buy a home, make sure you’re ready.
Here are some things to consider:
Financial Security - If housing prices rise, your home can provide you with some financial security due to capital
Stability - Having a place of your own.
Financial Stress - Coming up with the down payment, meeting regular mortgage payments and other ongoing costs will tie up a lot of your cash, and can put considerable stress on your finances.
Maintenance - Keeping your home in good shape requires time and money.
Responsibility - You alone are responsible for payments, repairs and maintenance.
Flexibility - You can decorate or renovate your home to meet your own family’s personal tastes and needs.
Now that you have an idea of what to expect, take out a notepad and list the advantages and disadvantages of renting or
buying a home. This list will help you weigh in the pros and cons of renting and buying and help you determine if home ownership is right for you.
Read more Home Finance articles
- How to save with the way you pay Mar 9
- Lifetime approach to better fiscal fitness Feb 23
- Checking out your new neighbourhood Feb 9
- Teach your children how to save Jan 26
- Time to make a move Jan 12
- Goal setting & resolutions Dec 29
- High credit score for borrowing Dec 15
- Managing your mortgage Dec 1
- Building your financial muscle Nov 17
- House hunting: the right fit for you Oct 20
- Organize important home documents Oct 6
- What is your mortgage rate? Sep 22
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