“Save up to 6% on a home”

MoneySense

12 February 2013

Romana King

Did you know that your customers can save significantly if they start their home hunt now instead of waiting for sunny skies and warmer temperatures? 

This article summarizes some pros and cons of the winter market for both homeowners and potential buyers. Notably, sellers can take advantage of less than ideal weather conditions to camouflage potential problem areas (e.g. roof, foundation) and buyers can often save thousands of dollars and face less competition in colder months. They can also get a better idea of how their future home performs under the pressure of wind chill by checking draughts at windows and observing how the furnace is managing.

Highlights:

• Homes are often listed for 1% to 6% lower in the winter months (CREA)
• Waiting to buy in June could add $3,500 to $21,000 on a home listed for $350,000 (CREA)
• Advantages for buyers and sellers

From MoneySense, Canada’s Personal Finance Website
23FEB2012

RRSP Myths

People come up with all kinds of reasons for not using RRSPs to plan for retirement. Gail (Vaz-Oxlade) debunks the three most common misconceptions.

Routinely I get letters from people who tell me why RRSPs won’t work for them. I’m not sure if they’re trying to convince me or themselves. Most of their arguments are based on misconceptions like these:

Read full article here.

RRSP vs. TFSA: Tim Cestnick on where to put spare dollars

Globe and Mail
Published Wednesday, Jan. 18, 2012

“My aim today is not to run through the many rules around these plans. But as a refresher, here are the basics: There are limits to how much you can contribute to RRSPs and TFSAs alike. You’ll find your RRSP contribution limit on your Notice of Assessment that you received after filing your tax return last year. As for your TFSA, you can contribute $5,000 annually and have been able to do so since 2009 (for total contribution room of $20,000 in 2012 if you haven’t made any contributions to a TFSA yet).”

Read the full article here.

From Green Business Bureau

Some Friday afternoon reading to make you smile and look at things a little differently: Can Eco-Friendly Cars be Manly? | Green Business Bureau.

“The term hybrid car leads one to envision a tiny compact car with little horsepower and a boxy exterior.  However, many car companies are stepping forward and working hard to produce a tough guy’s hybrid sports car. “ Continue reading…

Retirement in Canada: How much is enough?

“Every Canadian needs $2-million in RRSP contribution room to achieve parity with public-sector defined benefit pension plans, the C.D. Howe Institute says.

As things stand, the system punishes those with defined-contribution pensions in the private sector and those who rely on what little RRSP room is granted them, says James Pierlot, principal with Toronto-based Pierlot Pension Law.”

Read more: Canada urged to end ‘pension apartheid’ | RRSP | Personal Finance | Financial Post.

XCEED Must Reads are articles, stories and pieces of information that are so informative and useful that we want to pass them on because, well, we couldn’t have said it better ourselves! It’s our nod to all the creative people sharing ideas and opportunities out here on the world wide web. Thank you.

Up first…

…check out this new MoneySense article by Gail Vaz-Oxlade:  3 Easy Ways to Save on Your Mortgage