Blogs

In the 2015 movie San Andreas, a magnitude 9 earthquake hits the entire state of California. Dwayne Johnson plays a rescue pilot who needs to fly across the state to rescue his daughter – and along the way he witnesses the devastation to communities first-hand. While this example is a hyped-up Hollywood disaster flick, earthquakes are a reality of life for us in British Columbia.

Equifax has confirmed that 8,000 Canadians may have had their personal information – names, addresses, and Social Insurance Numbers – or credit card information compromised in a breach by hackers earlier this year. An outside cybersecurity firm completed the forensic analysis to determine how many people were affected.

The federal government has confirmed a new mortgage stress test that will come into effect on January 1, 2018. The new qualifying rules will apply to home buyers looking for an uninsurable or conventional mortgage. You will need to qualify on either the Bank of Canada benchmark rate (4.89% at time of writing, updated weekly) or your mortgage contract rate + 2% - whichever is higher. Currently, buyers in this situation only need to qualify at their contract rate.

If you're like most people, your home is your largest investment. You probably put a large portion of your money into the purchase of your home and it stores valuable belongings that you have earned over the years. You might eventually plan to sell your home and use the money for retirement. If not properly insured, all of that could be gone in a flash.

More than ever, your credit needs to be top-notch to get the best terms, the best rate and the best offers on your mortgage. What does that mean if you have bruised or bad credit?

When you're shopping for your new home, you might fall in love with the kitchen that will let you host the parties of your dreams. Or it could be the mudroom that's perfect for your family to toss in their sports jerseys right after practice. But are you falling for the functionality and flow of the rooms, or are you really attracted to the matching stainless steel fridge and stove or the high-efficiency washer and dryer?

We know that staging can make all the difference in your decision to put in an offer on a home. If you're at the point of writing that offer with your real estate agent, you'll want to make sure to include conditions that will avoid surprises – like moving in and finding that those great appliances have moved on with the previous owner.

Condos are an increasingly popular property choice, whether you're a first time home buyer, a professional moving to a new city, or a retiree looking to downsize. Insurance is just as important for a condominium as it is for a traditional home, but there always seems to be confusion around what a condo policy covers. At its core, condo insurance covers your contents and liability, while the strata corporation covers insuring the structure. It's important for you to understand what's included in these policies and where you want to make sure your coverage is sufficient.