The House Team is committed to providing quality information to help people make informed decisions about their mortgage financing needs. Compare Canadian Mortgage Rates. Need a mortgage calculator? Mortgage Calculator Ontario. Mortgage Rates Ontario.
Once the kids have grown and moved out, it often makes less sense to hold onto a big home. Ongoing maintenance costs and taxes may be difficult to justify when only one or two people are occupying the home.
Two options for downsizing have gained popularity with homeowners in recent years, and may be worth exploring for those looking at ways to free up their time and home equity:
Condominiums
Buying a condo that’s smaller and less expensive than your current house allows you to realize the capital gains from your current property’s rise in value over the years. Because many condos have common areas and exterior elements maintained on behalf of the owners, this kind of living also frees you from ongoing maintenance. For individuals who want to travel or have health issues that may restrict their mobility, this is an ideal situation.
Reverse mortgages
For Canadians who own their homes and want to access its equity, reverse mortgages have emerged as an increasingly popular alternative to dipping into personal savings. In addition to allowing the homeowners to stay in the home and retain ownership of the property, reverse mortgages, sometimes called home equity conversion mortgages, allow homeowners to access a portion of the value of the home. These funds do not need to be repaid until the owners die or the house is sold. Canadian reverse mortgages are also not taxable.
- Related Articles
- Related Q&A
- Consideration in Finding a Good Real Estate Mortgage
- Real estate mortgage leads made simple and easy - just for you!
- Real Effects of Real Estate Mortgage Default Revealed
- Real Estate Mortgage
- Sba Loan For Business Finance And Commercial Real Estate Mortgage
- Real Estate Mortgage Options
- Real Estate Mortgage Terms
- Business Finance and Commercial Real Estate Mortgage Loan Choices




Choosing Moving Services and Self Storage Facilities in Sunny Isles, Pembroke Pines, Aventura, North Miami, North Miami Beach, Miami Gardens and Halla
By: Business Local Listings | 12/11/2009Most of the public self storage units do not have windows and come with roll up metal doors that look like garage doors. These are locked, with the key only accessible to the renter. Without the renter’s authorization,no one can enter, not even the facility management. To be really secure, the best residential and commercial public self storage services and facilities are equipped with state of the art computer-controlled electronic gates
Maryland movers – Make the Right Choice
By: Gary Shepherd | 12/11/2009If you are planning to move it is very important that you choose a good moving company. Moving is a complex exercise in logistics and requires proper management.
The Importance of Security in Residential and Commercial Public Self Storage Services and Facilities
By: Business Local Listings | 12/11/2009Home storage space is a huge problem for many growing households these days. As children grow, they acquire more possessions and the family home usually can no longer contain all of its residents’ possessions. The problem becomes even more complicated when people move residence. Sometimes the new place is too small for a family’s things. At other times, temporary storage space is needed for the family’s things while they are still trying to find a home or settle down in their new location.
Easy shifting with Packers and Movers of Pune
By: santoshets | 12/11/2009Shifting of goods whether it household goods or industrial merchandise, it is always a tiresome and time taking task. It is not at all easy and if you are shifting for the first time you have to face lots of problems to make complete relocation of your goods to new location in an easier and hassle free way. Lots of works has to be done which you may not be familiar with but still this uphill task you have to do it any how to move to your new house or destination.
Experienced Packers and Movers of Delhi NCR Made Shifting Easier
By: santoshets | 12/11/2009The happiness of shifting household goods to the new big room is immense. But yet the bitter fact about the relocation is that it is one of the most problematic and chaotic task. It consumes lots of time and more of all each and every processes include in this task are full of risks.
Are You Considering One Of The Available Houses For Sale In Lake Tahoe?
By: Alvin Steinberg | 12/11/2009In fact, when you purchase one of the available Incline Village houses for sale in Lake Tahoe, you also get to take advantage of the excellent educational opportunities that are available nearby.
Quality Homes At Great Prices Are Available Today In The Glenbrook Area!
By: Alvin Steinberg | 12/11/2009As the oldest of Lake Tahoe's communities, Glenbrook is just as rich in history as it is in beauty. With its prime location on Lake Tahoe, it is easy to see why so many people are interested in learning more about the available Glenbrook homes for sale.
Are You Considering A Lake Tahoe Home For Sale?
By: Alvin Steinberg | 12/11/2009Although many people associate Lake Tahoe with the warmer months of the summer, the reality is that Lake Tahoe is a great year round destination. This means that Lake Tahoe is simply a great place to live - particularly if you want to be able to take advantage of the lovely beaches
Downsizing Your Home, Expanding Your Options
By: The House Team Of Mortgage Intellingence | 01/04/2008 | Moving & RelocatingOnce the kids have grown and moved out, it often makes less sense to hold onto a big home. Ongoing maintenance costs and taxes may be difficult to justify when only one or two people are occupying the home.
7 Reasons to Use a Mortgage Broker
By: The House Team Of Mortgage Intellingence | 01/04/2008 | MortgageFor many people, mortgage payments are their single largest expense. Yet, when financing a home, most Canadians don’t comparison shop to ensure they’re getting the best mortgage rate and terms available. This mistake can cost homeowners tens of thousands of dollars over the course of their mortgage.
5 Steps to Making Your Dream Renovation a Reality
By: The House Team Of Mortgage Intellingence | 01/04/2008 | Home ImprovementThe lure of a stunning gourmet kitchen or sparkling spa-style bathroom may have you chomping at the bit to begin a home renovation. But if you heed the advice of experienced renovators, pre-planning and advanced preparation are the secrets to renovation success. Here’s a helpful checklist to get your renovation started on the right track
Is a Recreation Property Right for You?
By: The House Team Of Mortgage Intellingence | 28/03/2008 | Real EstateWhether it's called a cottage, a chalet or a country house, the lure of a recreation property far from the hustle of the city is too much for many of us to resist.
Trading Up? Tips to Get Into That Next Home Faster
By: The House Team Of Mortgage Intellingence | 28/03/2008 | Real EstateThe resale housing market is expected to remain at near record sales levels in 2008, according to The Canadian Real Estate Association.
Belleville's House Team - One of Canada's Best
By: The House Team Of Mortgage Intellingence | 18/01/2007 | Press ReleasesLocal mortgage broker Peter House also named to national awards shortlist for Canada’s Broker of the Year
Mortgage "stores" are a Hit With Homebuyers
By: The House Team Of Mortgage Intellingence | 11/01/2007 | MortgageOkay, that may have been an easy one if you read the headline of this column. For most Canadians, their home is their biggest investment - and their most powerful financial tool.