Now that tax time is around the corner, Canadians are thinking about investments and their financial situations. Real estate is a fabulous investment in this country. We enjoy internationally renowned stability when it comes to politics and finances, and Canada is continually ranked among the best places to live in the world.
I have heard a few grumblings about the recent tightening up of banks when it comes to qualifying for mortgages, but remember that our conservative banking practices saved us from the crisis they experienced south of the border during the recession. The new rules here will protect people even more from overextending themselves and getting into situations where they cannot realistically carry their mortgages.
Remember that historically, real estate increases in value over time. In addition to being the largest investment most Canadians make in their lifetime, it is also the smartest. And if you look at the substantial level of investment in Canadian real estate by people in foreign countries, the benefits are even more obvious.
As you plan your future, if you do not own a home or condominium, consider buying. In addition to being a solid investment, you actually get to live in it!