Transparency is hard to come buy when looking at the closing costs involved in buying or selling a residential property. I just went through the process of both, selling a condo and buying a townhouse. Through this, I got to discover some of the hidden fees involved in the process. Below I’ll go through all of the costs I incurred and discover the real cost of selling a house (or condo or townhouse). Selling my property For my process of buying a new home, I sold my condo before buying my new property. I wanted to be able to put 20% down on my new townhouse to avoid additional CMHC fees. …
Managing your personal finances isn’t easy
Let’s Talk About Money is a personal finance blog that uses concrete numbers to talk about making financial decisions, and how to become a ‘Do-it-yourself investor’
Let’s Talk About Money provides a place to talk about how to make smart decisions with your money, and how you can let your wealth grow over time. There are no definitive answers when trying to figure out what to do with your money, but hopefully my example can provide you some insight and direction when you make a decision.
I look at investing using index funds, Tax Free Savings Accounts (TFSA), Registered Retirement Savings Plans (RRSP) and Mutual Funds, and try to provide guidance based on the questions I had as I got started. I also look at tracking your money and making smart day to day decisions that maximize how far your pay cheques go, and how to really make your money work for you.