Edmonton Real Estate Blog

(NC) In recent years, water damage from flooding has become increasingly common across Canada. In fact, the Insurance Bureau of Canada says that water damage accounts for nearly half of all insurance claims, and the frequency and cost of these claims has risen dramatically in recent years.  

Some of this increase in property water damage is due to climate change, with strong storms becoming more frequent and lasting longer. Infrastructure in many areas is old or inadequate and unable to handle the volume of water associated with these new storms as well as flash floods or snowmelt.  

Sewer backups are also occurring more often, both with old systems and with newer ones that are designed to handle both rain and sewer water. Faulty plumbing is another factor that can contribute to water damage, especially in aging, poorly constructed or poorly designed buildings. 

Despite these concerns, a poll from the Insurance Bureau of Canada revealed that more than a quarter of...

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(NC) An estimated three million Canadians have one, and they have emerged as the single largest contributor to the growth of household debt in Canada.


Yet many consumers do not appear to fully understand how they work.


No, we’re not talking about credit cards or car loans. We’re talking about home equity lines of credit or HELOCs.


According to a 2019 survey by the Financial Consumer Agency of Canada, many people appear to lack awareness of the terms and conditions of this widely sold financial product, exposing them to the risk of over-borrowing, carrying debt for extended periods and uninformed decision-making.


HELOCs are a secured form of revolving credit. The lender uses your home as a guarantee that you'll pay back the money you borrow. And, as you pay your HELOC down, you can borrow it again, up to a maximum credit limit.


Most major financial institutions offer them with a mortgage as a combined product, which is sometimes called a readvanceable mortgage. Many use them for...

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(NC) The term “house poor” is likely one we’re familiar with as Canadians. Given the ever-changing housing market, it’s something you may even have identified with. But what does it really mean? And how can we avoid it?

“House poor” is a situation that describes a person who “over-extends” themselves and spends an unusually large proportion of his or her total income (roughly 30-40% or more) on home ownership, including mortgage payments, property taxes, maintenance and utilities. If you’re feeling like a disproportionate amount of your income goes towards your home-related expenses, then you might be in this group.

According to the 2019 RBC home ownership poll, half of Canadians claim they would avoid a situation where they become house poor as they say it’s mentally stressful and financially irresponsible.

However, one in four Canadians does identify this way and approximately one in ten is prepared to put themselves in this position....

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(NC) With the Bank of Canada recently raising its key interest rate once again, many of are concerned about the impact on our household debt and mortgages. Fortunately, there are many tips and tricks for saving and budgeting you can use for other areas in your life.

Try the three-category budget. It can be overwhelming trying to track all your expenses, but it is advisable to have a baseline to check your progress. Money experts recommend picking just three categories you want to focus and get a handle on, since most of us overspend in just one or two categories. The three-category system is an easy way to get started on trimming expenses.

Pay down high-interest debt. One in three of us sometimes buy things we can’t afford. If you’ve put a few too many purchases on your credit cards, a big portion of your monthly payment are going just towards paying down debt. To get out ahead, consider moving the debt to a low-interest option, like a line of credit. When paying off...

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(NC) Long nights and chilly weather activate our instincts to hunker down and nest at home. Get inspired to make your space relaxed and inviting and make the most of the season with these helpful tips and ideas.


For warmth. Is there anything better than curling up with a good book and comfy duvet as the snow falls gently outside? For a soft and warm cover, consider one with a down filling. Down is the warmest available; it’s a natural fill that has the ability to reloft and mould itself to your body for continuous warmth and comfort. It’s also great for your bedroom pillow and in a jacket for when you do decide to brave the cold.


Avoid buying down fibre, an inferior product that lacks insulation. To make sure you’re getting a quality product, look for the Downmark certification label, a globally recognized and trusted quality certification symbol for Canadian-made down and feather filled products. The label assures items are genuine and have been finished in Canada according...

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