When taking out a mortgage, homeowners should take a look at the different methods of insuring that mortgage. A home is one of our largest and usually a primary financial asset, so having that mortgage covered in case something dire happens is simply smart. Knowing what to look for can help you get some peace of mind.
Death Benefit Coverage
If you look at the death benefit coverage purveyed with mortgage insurance, note that as your balance on that mortgage decreases, so does the amount on that coverage. Mortgage insurance pays the balance of your mortgage upon your death. If you started out with a $300,000 mortgage, by the time the home is halfway paid off, the benefit would only be roughly $150,000. In this case there are no extra funds left over.
Looking at a term life insurance policy puts things in a different light. If you take out a policy of $300,000 with the same type of death benefit, that insurance would be worth that $300,000 no...
The commercial real estate market across Canada had a dynamic first half in 2012 and the expectations are that market will continue to thrive into the better part of 2013. The Re/Max Commercial Investor Report was just released this past Wednesday. It revealed healthy sales and price volumes in most markets from the first of January through the end of June. Those Canadian markets included in the study were Halifax-Dartmouth, Ottawa, Greater Toronto, London, Ontario, Winnipeg, Regina, Edmonton, Calgary and Greater Vancouver.
The Re/Max report came out just after another study by the Canadian Real Estate Association, or CREA, which painted the residential market in a much different light. September numbers did show sales increased 2.5 percent over this past August, but were down by 15.1 percent from September of 2011.
The prediction by CREA is that sales numbers in the residential market are expected to be down from levels seen throughout the fourth quarter of 2011....
Royal LePage just released its House Price Survey for Canada’s third quarter of this year. It noted that home prices in the nation increased by between 1.8 and 4.8 percent when compared to the same time period in 2011.
Looking at the numbers, a standard category two story home saw an increase of 4 percent, coming in at an average of $403,747. Single-storey detached bungalows saw an increase of 4.8 percent, showing an average of $366,773 per unit. Condominiums in the standard category saw a 1.8 percent increase, with an average price of $243,607. Also across the nation, most cities saw home prices increase modestly, but a slight decrease in the actual number of sales when compared to 2011.
Royal LePage’s president and CEO Phil Soper noted this is usually a sign that house prices will begin to soften. When less people are on the market to buy a home, those wanting to sell will often reduce their asking price to attract buyers. During 2012’s third quarter,...
Recently a survey has been released discussing in detail the increase in the average monthly cost of parking in areas around Canada and other cities. The survey was based on the monthly average cost of parking in the previous year compared to this year, but within the same month. The survey showed that areas such as Alberta parking had increased significantly over the year.
The survey also showed that the city of Calgary had led Canadian cities which ranked second in the area of North American, behind New York city. Based on this information the parking rates in Canada increased by 2.7 percent over the year. The average cost in 2011 was $253.33 and had risen to $241.72 this year.
Ian MacCulloch, National Research Director with Colliers International in Canada, stated that the reason for this increase is due to limited future supply of parking lots, improving the economic conditions and a strong market office.
According to this new information, the shortage in new parking areas...
There are many different things that a person considers prior to purchasing a home. One of these things is the history of the home, such as a home where a death occured, meaning that the seller had died inside of the home. The decision is often made based on the type of death that occurred within the home.
For instance, an elderly person who had died of natural causes is not likely to scare a home buyer away. Other instances such as a homicide with the home, an unnatural health or a person who suffered with a prolonged serious illness tend to lead people away from buying a home with a death or make them question their decision.
Certain people are not bothered regardless of the type of death that occurred within the home. For instance, during the French revolution mass murders occurred...