Category: real estate

What you need to know about mortgage closing costs

When purchasing a new home, the final expenses incurred by the buyer to complete the transfer of ownership are referred to as closing costs. While total closing costs vary by region, many are common across all markets. Mortgage lenders require new buyers to demonstrate their capacity to manage these expenses when assessing overall ability to … read more

Down payment rules for Canadian home buyers

Down payments were introduced to provide stability to the mortgage market, and are a mandatory for all mortgages in Canada. In this Oaken Blog post, we’ll take a look at what you need to know about down payments when purchasing a new home. We’ll also review how the minimum down payment is calculated, as well … read more

So, you want to be an Airbnb host

Perhaps you’ve heard how easy it is to earn a little extra cash by listing your spare room or vacant apartment on the Airbnb website. You might even know someone who has served as an Airbnb host, and you’re now thinking of trying it for yourself. That’s great. But before you go ahead and list … read more

5 tips for preparing your home for the market

As we discussed in an earlier Oaken Blog post, the Principal Residence Exemption (PRE) means that the proceeds from the sale of your main home are not subject to either income tax or capital gains tax. Even if you sell for considerably more than you paid when purchasing the property, you can pocket the proceeds … read more