Effective May 30, anyone who has an insured mortgage will no longer be able to act as a co-borrower on another mortgage that CMHC insures.

What does that mean? If you currently own a home and your down payment was less than 20% (CMHC Insured), then you cannot purchase or cosign on another property with less than 20% down.

Similarly, parents who have a mortgage that’s insured will no longer be able to act as a co-borrower for their children on an insured mortgage.

 

Globe and Mail News Article

 

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* Update hardware, faucets, sinks, grout in kitchens & bathrooms.

* Paint throughout with neutral colours. A blank slate is best.
* Declutter & Depersonalize. Put excess furniture in storage.
* Add Fresh Flowers.
* Use double beds instead of queens and kings.
* Never cook a meal before a showing. 
* Increase wattage in lightbulbs. Brighten up your rooms. Add lamps to eliminate dark spaces. 
* Glass tables make rooms appear larger.


Sell your homes faster with these Real Estate tips. 

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