Just a reminder that the new mortgage rules take effect next week, on Monday July 9, when the maximum amortization will become 25 years (from 30) and the maximum refinance amount will be set at 80 per cent loan to value (from 85). You should get in touch with me or your mortgage provider if:

• you are buying a home or have a mortgage pre-approval. You must have an offer to purchase before July 9 to take advantage of a 30 year amortization;
• you want to refinance to consolidate your high interest...

The kitchen is almost always the heart of the home, and the most important room for homebuyers. So it's no surprise that kitchen renovations consistently provide the best return on your renovation investment: from 75% to 100% according to the Appraisal Institute of Canada.

While kitchen renovations can also be extremely costly, there's no need to gut the kitchen and start over to see a boost in value. Upgrades like granite countertops to replace tired laminate – or stainless steel appliances,...

Although it is certainly possible to over-invest in bathroom renovations, they are among the most reliable renovations in terms of boosting the overall value of your home. If your home has fewer bathrooms than others in the neighbourhood, then a bathroom addition should be a top priority. A smart bathroom reno should return 75% to 100% according to the Appraisal Institute of Canada.

Always consider, of course, that your renovations should be in keeping with the rest of your home – and...

Whether it's inside or outside – and whether you're staying or going – a fresh coat of paint can work wonders on the overall impression of your home.

While it doesn't have the power-tool appeal of knocking down walls, a simple coat of paint can be almost as impactful. In fact, the experts consistently agree that painting pays: money spent on a great paint job is almost always money well spent. In the grand scheme of renovations, painting is a low-cost activity, so you can expect...

On the same day that the Minister of Finance announced significant changes to mortgages, The Office of the Superintendent of Financial Institutions Canada's (OSFI) released and set out their additional, final mortgage underwriting guidelines.  These changes apply to federally regulated lenders only (provincially regulated institutions such as credit unions may choose to follow).

Here are the high points on what's changing:
1. HELOCs: The maximum loan-to-value on a Home Equity Line of Credit (HELOC)...