Shakila Kunabalasingam, SK Mortgage Planning

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Toronto, ON
Shakila Kunabalasingam, SK Mortgage Planning

Mortgage Advice - updates/news on all matters relating to Real Estate, and Residential and Commercial Real Estate Financing

10/31/2023

Buying to rent, also known as "buy-to-let," is a real estate investment strategy in which an individual purchases a property with the intention of renting it out to tenants.

The goal: to generate rental income 💰

Buying a property to rent can be a great investment for many reasons…

✔️ Steady stream of income

✔️ Property appreciation

✔️ Tax benefits

✔️ Investment diversification

If you’re interested in growing your financial investments through real estate, and want to learn more about the pros and cons, reach out today!

10/27/2023

If you’re a first time home buyer, you may qualify for a variety of tax credits rebates which Canada offers to encourage home ownership and assist first time buyers with their purchase.

Options include:

→ home buyers plan

→ home buyers tax credit

→ land transfer tax rebate

→ GST/HST new housing rebate

→ first home savings account (FHSA)

Swipe to learn more 👉

10/19/2023

Purchasing a home is a huge financial commitment which requires years of planning and dedication. Before you take the plunge, it’s important to make sure your finances are in good health 💰

It’s important to remember everyone’s finances are unique and require different strategies and levels of management.

Swipe to see a few ways to ensure your finances are healthy 👉

10/17/2023

October is here and we’re officially in fall 🍂

With another month gone by, this means another round of market stats 👉

Greater Toronto Area home sales in September were affected by several factors, including elevated borrowing expenses, inflation and uncertainty regarding future Bank of Canada policies.

Even though the housing market had a greater supply of homes available for purchase, the average selling price experienced a 3% year-over-year increase.

10/09/2023

It's this time of the year again…I can’t believe it’s come around so fast!

Happy Canadian Thanksgiving for those of you who celebrate 🇨🇦

This year I’m thankful for good health and great support of family and friends. I hope you have the best day surrounded by loved ones 🦃 🍁

10/05/2023

Have you heard? Inflation rates are rising 📈

High inflation means that prices are rising at a faster rate than usual, causing the purchasing power of money to decrease.

So what can we do to prepare for high inflation?

Read to find out more 👉

09/30/2023

Today we honour the survivors of residential schools, as well as remember the children who never returned home.

I wear orange today in support of the National Day for Truth and Reconciliation.

09/26/2023

A good credit score is an essential financial tool that can make a significant difference in your life. It is used by lenders to determine whether or not to approve your loan application.

It’s important to work towards building a strong credit score well before you’re thinking about buying a home 🏠

A good credit score can help you qualify for rental applications, cell phone plans, and even job applications. Landlords, employers, and service providers often check credit scores to determine whether or not to do business with you.

A high credit score shows that you are a responsible borrower and that you are likely to repay your debts on time 💪

Therefore, it is crucial to maintain a good credit score by making payments on time, keeping your credit utilization low, and monitoring your credit report regularly.

09/21/2023

Renovating your home can be a great way to increase its value and potentially build investment through real estate 🙌

By making strategic renovations, you can attract more potential buyers and increase the overall appeal of your property.

Once your home's value grows, you can consider taking out equity to put towards another home, investment property or other financial goals 💸

You can use the equity to...

→ become a landlord with basement rental or another property
→ save for your children’s schooling
→ secure financial peace of mind

09/11/2023

So you’ve bought your dream home, you’re all moved in, but what’s next? 👇

Have you considered changing your mortgage payment frequency to weekly or bi-weekly so you can pay off your principal faster?

When you select an accelerated weekly or bi-weekly payment option, you are essentially making the equivalent of one additional monthly payment each year which will help pay off your mortgage faster, and save interest! 🙌

You can change your payment frequency without cost at any time during your mortgage term.

08/25/2023

With the end of another month comes another look into the GTA housing market 👀

Prices and sales volumes were up in the Greater Toronto Area in comparison to July 2022, up 4.2% and 7.8% respectively as July experienced a more balanced market compared to June.

Even with home sales up over last year, sales are slowing slightly due to higher borrowing costs. 👉

Address

201-8 Sampson Mews
Toronto, ON
M3C0H5

Website

https://shakilakunabalasingam.ca/

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