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How Does Rent to Own Work in BC?

How Does Rent to Own Work in BC?

Plenty of people in British Columbia have a dream of owning their own home. Renting is not the most comfortable or stable of situations — and then there’s the high rents to consider. In Victoria BC, the average rent for a one-bedroom was $2,053 per month in September 2023, and it is even worse in

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How To Budget for Your First Home

How To Budget for Your First Home

Planning and adhering to a budget is one of the most challenging tasks for people when it comes to their personal finances. Knowing what you can reasonably afford each month becomes even more crucial when you’re purchasing your first house because it’s probably the biggest purchase you’ve ever made. If you are currently renting, a

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Private Mortgage Lenders: Benefits and Risks

Private Mortgage Lenders: Benefits and Risks

Prime lending rates have been increasing since the beginning of 2022 in response to the Bank of Canada’s (BoC) attempt to get a handle on inflation. In their July 2023 announcement the BoC raised Canada’s overnight lending rate to 5%, resulting in the 7.2% prime rate currently used by banks. High prime rates mean a

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5 Tips for Getting the Best Mortgage Rates in Victoria BC

5 Tips for Getting the Best Mortgage Rates in Victoria BC

Getting trapped in a loan with unfavourable mortgage rates can mean you’ll be paying hundreds of thousands of dollars more over the lifetime of the loan. In 2023, with interest rates what they are, is there such a thing as favourable mortgage rates? Maybe not, but there are definitely things you can do to tip

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