Tag: Home Insurance

Home insurance claims take presctiption the rise in Canada. In the past decade, the Insurance Bureau of Canada points out that property claims as a percentage of all insurance claims have risen from 24.4% to 39.3%. Most of this is due to the fact that in Canada, disasters like floods, drought and fires are increasing […]

Take home a typical salary in Toronto? Good luck buying a home. Real estate firm TheRedpin has calculated that you need to be making at least six figures or very close to so that it is in a position to afford the average price for everything from a flat to some single-detached home within the […]

As we look back on 2021, we have to express it is a great year at LowestRates.ca. We wrote in regards to a lot of amazing individuals who shared their home-buying, money-managing and entrepreneurial adventures with us. Hopefully you loved them as much as we loved writing them. Before we enter 2021, our team decided […]

Canada's banking regulator unveiled tougher mortgage rules Tuesday, saying that even homebuyers with down payments of 20% or even more will need to prove they are able to afford higher interest rates. The Office from the Superintendent of Financial Institutions Canada (OSFI) states that buyers who who apply for uninsured mortgages – those with a […]

A major feature with new condo developments would be the amenities, like rooftop pools, virtual golf, and movie screening rooms. But inside a few short years, with no adequate reserve fund, those amenities are going to look pretty crappy. What may be the reserve fund, you ask? It's the money the condo corporation puts aside […]

Oh, Toronto housing. Up until the past few years, hopeful homebuyers in Toronto would often start their housing journey by scooping up a starter home. Oftentimes, they could obtain a single-detached home with a few bedrooms and a spacious backyard. But then, because of demand along with a host of other reasons that everyone continues […]

Whether you're ripping up carpet to place down a brand new floor, adding punch to some room with new paint, or adding another living area, getting work done on your house is a big step for most homeowners. Unfortunately, it does not always go well. Take my own spot for example. This past summer my […]

Do you decide yourself to become financially literate? If I'm being honest, before I began working at LowestRates.ca, my knowledge of personal finance was very limited. I knew the basics – I knew budgeting was something people did and I should probably try, and that i knew it was vital to pay for my charge […]

Mortgage Extra costs Down payment Home insurance House hunting Renovations Tax credits Resources Buying your first home in Canada in 2021? Well, a lot has changed since this past year – and you are going to have to know how those changes impact you. But that's OK, because we're here to guide you with the […]

The time tested question of “If a tree falls inside a forest with no the first is around to hear it, did it make a sound?” always leads to debate. But, something just about everyone can agree with is that if a tree falls on their house or car, someone's gotta pay up. With the […]