Mortgages are frequently used by people to purchase residential real estate. Some Alberta residents may wonder what options are available to them to pay off their mortgages more quickly following residential real estate transactions. However, many families may be balancing the desire to make extra payments with other financial priorities. While paying off a mortgage as quickly as possible can be a good idea, there may be some drawbacks worth considering.
As older Canadians move towards retirement age, many are considering how best to invest inside their RRSPs. One of the options available for Alberta savers is to invest in real estate. However, those seeking to use their RRSP to support real estate transactions and property investments should know some of the legal restrictions and regulations related to these holdings.
There have been many conflicting reports about the state of Canada's real estate prices. Prices have risen considerably in urban markets, and some have voiced concerns that the growth has been too quick. A recent report found that housing prices in Canada saw a 13.3% year-over-year Q3 increase, with rates rising in larger Ontario, British Columbia and Alberta cities. One residential real estate expert believes the current rate of appreciation is manageable and healthy.
For many home owners, Airbnb offers a convenient way to make rental income from travelers. However, Alberta hotels have raised concerns over the unfair competition presented by the platform. The government is currently looking into the situation and may be applying rules to residential real estate owners who rent out their homes, apartments or rooms online.