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Latest News
How to sell your own life insurance policy in Canada + MORE Mar 28th
“Can I sell my life insurance policy?” is a question Canadian insurance professionals are often asked. This might seem counterintuitive—after all, we purchase life insurance to safeguard the financial security of our loved ones in the event of death, not to provide an infusion of cash while we.... More »
How to Open a Joint Chequing Account Jul 14th
Tired of moving cash back and forth with your partner to pay for housing costs, monthly bills, or groceries? Opening a joint chequing account can be a convenient way to manage finances as a team. And joint accounts aren’t just for couples – whether you’ve tied the knot, are common.... More »
Hurricane Scalise Jul 22nd
A GOP leader wants to scuttle even minor flood insurance reform..... More »
How You Can Protect Your Data from Cybercriminals Aug 4th
If you found a USB stick in the bathroom at work, would you plug it into your computer to see what’s on it? Preying on our inherent curiosity is one clever way cybercriminals try to trick us into making security mistakes in an effort to gain access to sensitive computer systems and launch a cyber .... More »
Before you buy, here’s how to compare home insurance + MORE May 16th
Home insurance is important, but no one loves paying for it—especially when household budgets are tight. That’s why Canadians open their browsers and search for things like “cheap home insurance” and “how to save on home insurance.”
Any insurance professional will tell you there’s.... More »
Just visiting: Stock-picker flirts with real estate
– moneysense.ca
Getty ImagesI love to spend a few weeks each summer lounging by a lake. This year I rented a little cottage outside Lion’s Head, Ont. located just a few steps from the waters of Georgian Bay.
It’s hard to visit cottage country without dreaming about buying a little slice of heaven.
While owning a cottage has some obvious benefits, it tends to be a costly affair. Crunch the numbers and you’ll likely discover the relative advantages of renting.
For instance, it’s possible to buy a waterfront cottage between Wiarton and Tobermory—roughly 4 hours from Toronto—for, perhaps, $300,000. But that represents the low-end. Those looking for luxury could spend a million dollars or more.
Three hundred thousand dollars might seem like a bargain to house hunters in Toronto. But it is pricey for something that will be used for only a few months of the year.
The initial property cost is joined by a slew of on-going expenses in the form of maintenance, taxes, insurance and utilities…
