RENTING IS BETTER FOR YOU IF YOU HAVE THESE CONDITIONS

RENTING IS BETTER IF..(To understand please try to read it completely)

Due to slow real estate market, many articles are in circulation, stating that now no one should buy house, instead they should rent ?

I am 100 % agree everyone should rent, because you save a tones of money you pay towards interest. 

However this is true only in following cases

1. If you are buying home for investment point of view and not to reside in.
2. You are going to spend your whole life a rental apartment.
3. You are not going to grow your family.
4. You are not going to invite your parent to visit you(applicable to new immigrants)
5. You are planning to spend your whole life in same 1 bedroom apartment.

If this applicable to you then you should never ever consider buying a home.

Because renting a 1 bedroom condo cost you approx $1100- 1200/month (Provided your landlord is not going to increase your rent.)

So in 5 years you will spend $66000 - $72000 and no other overheads.

WHEN RENTING CAN GO WRONG....

But wait ! Answer the following questions,

1. Did you immigrate to Canada to improve your life style or for investment ?
2. Did you plan to live the same life you had in your home country ?
3. Do you think growing your money is only your motivation 

If your  answer is "No" then go ahead and see the the calculation below, I am sure you are right. I am sure you will say aha! that's what I wanted to know.

To compare apple to apple, Let's take an example of Mississauga area, 

• The average rent for a 3 bedroom with 2.5 washroom is approx $1700 per month.(Assuming your landlord is so nice and not going to increase your rent). 
• In 5 years you will pay $102000 in rent.

Now same house if you want to buy, at today's market price it costs approx $400000.

• At today's mortgage rate of 3 % for 5 year.
• 20% down payment 
• 30 years mortgage(If 20 % down payment and 25 years if less than 20 %). 
• You pay approx $1345 per months toward your interest and principal payment. 
• Apporx $300 of property tax. Which brings the total of $1645.
• So in 5 years $98700.

It is never too late or early if you have a good paying job, to go ahead and be a proud owner of the place you can say your own.

Please give me a call to show you the Government of Canada's plans for Home Buyers. Oh ya..Government of Canada helps you become a home owner in Canada.

If you think, what ever I showed here is incorrect, you are always welcome to post productive comment.

Ritesh Joshi- 647-281-3424.

Ontario Healthy Homes Renovation Tax Credits

Summary

The Healthy Homes Renovation Tax Credit is a permanent personal income tax refund for seniors and the  family members who live with them.

Those who qualify can claim up to $10,000 worth of home modifications on their tax returns and receive back 15 per cent of eligible expenses. A household that spends $10,000 on eligible home renovations potentially can get back $1,500. The tax credit has a $10,000 maximum per couple.

Details

Who Qualified 

• Must be 65 years or older by the end of the year for which he/she is claiming the credit. 
• Family members can qualify as well, if they modify their home to accommodate a live-in relative who is 65 or older and can claim eligible expenses on their personal income tax return. 
• Seniors and their family members at all income levels are eligible.

Eligible renovations 

• Include walk-in bathtubs; 
• wheel-in showers; 
• widening passage doors; 
• lowering existing counters/cupboards; 
• grab bars around a toilet, 
• tub and shower; handrails in corridors; 
• wheelchair ramps; stair/wheelchair lifts and elevators; and 
• nonslip flooring in the bathroom. 

Devices such as 

• equipment for home medical or home safety monitoring, 
• wheelchairs, walkers, 
• side-swing ovens and appliances with front-loaded controls, 

Fire extinguishers, smoke alarms and carbon monoxide detectors are not eligible. Eligible expenses do not include the cost of labour.

The full list of eligible expenses for the Healthy Homes tax credit can be found at ontario.ca/healthyhomes. An online calculator is available to help applicants determine how much money they could get back. To get the credit, individuals must claim their total expenses on their personal income tax returns.

Applicants should save all receipts from retailers, suppliers and contractors related to these home modifications. While it’s not necessary to submit them with the tax return, it’s important that applicants 

have them on hand if they’re asked by the Canada Revenue Agency to produce them.

For more information call 1-866-668-8297 

or go to ontario.ca/healthyhomes.

Satya Narayan Katha Organised by Jai Ho Sports Club

Hi Friends,

We have entered the month of March today and hopefully we should see Spring soon.

Most of you know me thru my Mortgage services. I also wear another hat of social responsibility. Below is information about Jai Ho Sports Club and upcoming Satyanarayan Katha. Also at the current time we have 2 programs running with our club - Youth Cricket Coaching (7 to 18 years) and Cricket team for Adults. 

Feel free to call or email me should you have any questions. RSVP for Satyanarayan Katha is Sunday 10th March 2013.

Thanks

Mihir

647-710-7374

Dear Friends,

Jai Ho Sports Club got its incorporation done in Summer 2012. However, the story of Jai Ho Sports Club dates back to 2009. In a chilly winter weekend a group of sports enthusiast gathered at a Birthday party and were lamenting the fact that they were unable to play the sport of their childhood and adolescence - The game of Cricket. A popular game of South Asian immigrants has been showing tremendous following all over Canada.

The individuals realised that the pressures of settling down in a new country and lack of appropriate opportunities have led them to not get involved in Sporting scenario in Ontario. But the resolve was strong. To get together and form a team of individuals who not only wanted to play Cricket for fun but more for fitness per se. The aspects of team building and networking within the team and local sports enthusiasts were also the important motivating factors for the Jai Ho Sports Club to be formed. Jai Ho Sports Club also facilitates coaching of Youth cricket  by a Professional Canadian Coach.

For More information about Jai Ho Sports Club activities, please contact us.

Jai Ho Sports Club, Not only restricting its activities to Cricket but would also like to organize few social programs in a year  to keep the members interest alive and create a bonding within  Group.

The Year would start with Satyanarayan Katha and would followed by Talent Show,  Summer Picnic and  Diwali.

There would be annual Member Ship fees of $30 per Family payable to " Jai Ho Sports Club" towards registration of Membership. Please bring your membership fees.

Jai Ho Sports Club invites all of you to join in " Satya Narayan Katha" organised on Saturday  March 16,2013.

Time Duration:  4.00 PM to 9.00 PM

Venue: Hindu Heritage Center

        Address : 6300 Mississauga Road, Mississauga,

        ON, L5N 1A7,

        Phone: 905 369 0363

Those who would be interested to become " Yajman" , please let us know asap to make arrangements.

The fee to become a Yajman is $51.

The Prasad and dinner will be served at the end of Satya Narayan Katha.

There would be $25 contribution per family towards expenses.

Please spread your words to your friends and like minded people to become a member of Jai ho Sports Club.

If you have any questions, please feel free to contact myself , Hitesh Mehta (416 559 1417) or Mihir Oza (647 710 7374).

Please send your RSVP latest by March 10 to make arrangements.

Best regards

Paresh Shah 

647 998 7103 Cell

Event Coordinator 

Jai Ho Sports Club 

Open House - Secured Investment Opportunity

Hi Friends,

Good afternoon. Sorry to be emailing you again on the same day. 

RSVP date should read as Wednesday 27th Feb 2013. 

Once I have all confirmations I will send email to concerned people on Thursday about parking and other directions to our office.

Regards,

Mihir

---------- Forwarded message ----------
From: Mihir Oza <oza.mihir@gmail.com>
Date: Mon, Feb 25, 2013 at 9:17 AM
Subject: Open House - Secured Investment Opportunity
To: Mihir Oza <oza.mihir@gmail.com>

Hi Friends,

Happy Monday and I'm sure everyone is looking forward to better temperatures this week. 

Last month I had sent you information regarding Secured Investment Opportunity in 2nd mortgages and private financing. I would like to thank you all for the great response I have had in this past month. There were few suggestions on having a formal presentation organized so more information can be had and any questions you might have can be answered during the presentation.

I would like to inform you that an Open House has been organized for Friday 1st March 2013 @ 6.00 p.m. 

Presenting at the Open House will be Mr. Ravi Punnia AMP, CMP President & C.E.O for The Mortgage Practice Inc. 

Address: 2425 Matheson Blvd. East, 8th Floor, Mississauga, ON - L4W 5K4

In order to have more one-on-one time during the Open House the seating will be limited to 15 people on first come first served basis. Please RSVP back to me by Wed 27th Jan by 4.00 p.m.

Thanks

Mihir

-- 

Mihir Oza

647-710-7374
Mortgage Agent (License # M11000672)
The Mortgage Practice

 

My Motto: Right Advice. First Time, Every Time.

 

Secured Investment Opportunity.  EARN 9.50% Guaranteed Interest on your investment for 1 year?

• Have you ever wondered why your hard earned money is not fetching any returns lying in your Bank's Savings Account?
• Do you ever feel that you should use the equity in your property to get more returns?
• Are you someone who resists investing in GIC's as you don't want to lock your funds for an extended period of time?

Any one of the above scenarios or something else might be stopping you from gaining maximum returns on your savings. Well, I have got FANTASTIC NEWS for you.  I would like to offer you an opportunity to get great returns on your investment.....all secured and guaranteed. This is how it works. As you know I work in Mortgage Financing business. Most of my business is done with 'A' clients but many a times there are situations wherein my client's need to borrow money as 2nd or 3rd mortgages or as private financing. 

WHAT YOU NEED TO DO?

• Minimum investment of $25,000. Maximum investment: No limit.
• Minimum time for investment - 1 year. Maximum 5 years.
• Guaranteed Interest Rate: 9.50% (as of 25th Feb 2013)

HOW DOES IT WORK?

• You let me know your interest to invest. Amount and time period desired.
• I will look out for opportunities where I can get your investments done. 
• When a deal is to be put through your money is received by my company via cheque. Cheque gets deposited in Trust Account. Strictly no CASH dealings.
• Deal is signed with all legal documents prepared by us through our Lawyers. You don't pay any fees for Lawyers.
• Every month you get payment in your Bank Account based upon rate of return of your investment.
• At the end of your investment term you get your money back and the deal's discharge papers are signed.
• When you are ready to re-invest you let me know and we go through the process again.

--

Mihir Oza

647-710-7374
Mortgage Agent (License # M11000672)
The Mortgage Practice

 

My Motto: Right Advice. First Time, Every Time.

 

Open House - Secured Investment Opportunity

Hi Friends,

Happy Monday and I'm sure everyone is looking forward to better temperatures this week. 

Last month I had sent you information regarding Secured Investment Opportunity in 2nd mortgages and private financing. I would like to thank you all for the great response I have had in this past month. There were few suggestions on having a formal presentation organized so more information can be had and any questions you might have can be answered during the presentation.

I would like to inform you that an Open House has been organized for Friday 1st March 2013 @ 6.00 p.m. 

Presenting at the Open House will be Mr. Ravi Punnia AMP, CMP President & C.E.O for The Mortgage Practice Inc. 

Address: 2425 Matheson Blvd. East, 8th Floor, Mississauga, ON - L4W 5K4

In order to have more one-on-one time during the Open House the seating will be limited to 15 people on first come first served basis. Please RSVP back to me by Wed 27th Jan by 4.00 p.m.

Thanks

Mihir

-- 

Mihir Oza

647-710-7374
Mortgage Agent (License # M11000672)
The Mortgage Practice

 

My Motto: Right Advice. First Time, Every Time.

 

Secured Investment Opportunity.  EARN 9.50% Guaranteed Interest on your investment for 1 year?

• Have you ever wondered why your hard earned money is not fetching any returns lying in your Bank's Savings Account?
• Do you ever feel that you should use the equity in your property to get more returns?
• Are you someone who resists investing in GIC's as you don't want to lock your funds for an extended period of time?

Any one of the above scenarios or something else might be stopping you from gaining maximum returns on your savings. Well, I have got FANTASTIC NEWS for you.  I would like to offer you an opportunity to get great returns on your investment.....all secured and guaranteed. This is how it works. As you know I work in Mortgage Financing business. Most of my business is done with 'A' clients but many a times there are situations wherein my client's need to borrow money as 2nd or 3rd mortgages or as private financing. 

WHAT YOU NEED TO DO?

• Minimum investment of $25,000. Maximum investment: No limit.
• Minimum time for investment - 1 year. Maximum 5 years.
• Guaranteed Interest Rate: 9.50% (as of 25th Feb 2013)

HOW DOES IT WORK?

• You let me know your interest to invest. Amount and time period desired.
• I will look out for opportunities where I can get your investments done. 
• When a deal is to be put through your money is received by my company via cheque. Cheque gets deposited in Trust Account. Strictly no CASH dealings.
• Deal is signed with all legal documents prepared by us through our Lawyers. You don't pay any fees for Lawyers.
• Every month you get payment in your Bank Account based upon rate of return of your investment.
• At the end of your investment term you get your money back and the deal's discharge papers are signed.
• When you are ready to re-invest you let me know and we go through the process again.

What REALTOR® Can Do for You ?

The REALTOR® you work with could be one of your most valuable resources. Unlike many real estate agents who are simply licensed by their province to do business, REALTORS® have taken additional steps to become members of the local board of REALTORS® and have agreed to act under and adhere to a strict Code of Ethics. Plus...

• A REALTOR® can help you determine how much home you can afford. Often a REALTOR® can suggest ways to accrue the down payment and explain alternative financing methods.
• A REALTOR®, in addition to knowing the local money market, also can tell you what personal and financial data to bring with you when you apply for a loan.
• A REALTOR® is already familiar with current real estate values, taxes, utility costs, municipal services and facilities, and may be aware of local zoning changes that could affect your decision to buy.
• A REALTOR® can usually research your housing needs in advance through a Multiple Listing Service(MLS)--even if you are relocating from another city. 
• A REALTOR® can show you only those homes best suited to your needs--size, style, features, location and accessibility to schools, transportation, shopping and other personal preferences.
• A REALTOR® often can suggest simple, imaginative changes that make a home more suitable for you and improve its utility and value.
• A REALTOR® is sensitive to the importance you place on this major commitment you are about to make. Look for a real estate professional to facilitate negotiation of a win-win agreement that will satisfy both you and the seller.

Auto Insurance Frauds By Insurance Companies in Ontario.

Biggest issue of Driver's of Ontario, Insurance, Insurance and Insurance. If you are agree than share.
- Government can't do anything as all political parties have soft corner for Insurance companies.
- To win election NDP Leader Andrea Horwath demanded 15 % rate cut after premiums rose almost 30 % in last 3-4 years for the drivers with clean record.
- If I talk about my self, I live in Brampton and work in Mississauga, I spend 5 days of a week, 10 hours of a day in Mississauga.
Insurance companies are penalizing me, because my postal code belongs Brampton, so what even if I don't drive much in Brampton. They say, the intersection close to my place is having more accidents in past years.
- On other hand, one of my friend living in Mississauga and working for Region of Peel office in Brampton, his job to collect water sample, which requires whole day of driving he is paying $1000 less than what I pay working in Mississauga. Isn't if funny.
Which party leader talking about this ? Mr Tim Hudak, Premier-designate Kathleen Wynne or NDP Leader Andrea Horwath ?
Answer is no one.

Mihir's Market Matters Report - Feb 2013

February 2013 Welcome to the February issue of Mihir's Market Matters Report. The February Flavours are the ongoing low Mortgage Interest Rates. The market has started to pick up if January indications are to be considered. A 2 bedroom, 2 bathroom house (17 foot x 93 foot) in East York sold on the weekend for $525,000. The asking was $487,000 and 8 multiple bidding offers came in. Are you in the market for purchasing a new property. You can refer to the attachment on property tax rates in and around GTA. In regards to the Mortgage Rates, I am able to offer the best rates in the Industry backed with exceptional customer service. RATES AS OF 6TH FEBRUARY 2013 QUICK CLOSE SPECIAL - 2.79% FIXED FOR 5 YEARS VARIABLE - Prime (-0.35%) for 3 YEARS FIXED - 2.89% FIXED FOR 5 YEARS (60 DAYS CLOSING) Thanks Mihir Oza 647-710-7374 Mortgage Agent (License # M11000672) The Mortgage Practice   My Motto: Right Advice. First Time, Every Time.   Bank of Canada Interest Rate December 4, 2012 1.00 % January 23, 2013 1.00 % March 6, 2013 Next meeting date Source: Bank of Canada Bank Prime Lending Rate December 5, 2012 3.00 % January 24, 2013 3.00 % March 7, 2013 Next meeting date Source: Bank of Canada Conventional Mortgage - 5 Year Rate*  November 21, 2012 5.24 % December 19, 2012 5.24 % January 23, 2013 5.24 % Source: Bank of Canada *Determinant for high ratio mortgage variable qualifying rate US Federal Reserve Board Discount Rate* December 11, 2012 0.00 % - 0.25 % January 30, 2013 0.00 % - 0.25 % March 20, 2013 Next meeting date Source: US Federal Reserve *US Federal Reserve has indicated it will now keep this rate until unemployment reaches 6.5% Exchange Rate $CDN($US) December 31, 2012 1.0051 January 17, 2013 1.0140 February 4, 2013 1.0014 Source: Bank of Canada Government of Canada Bonds Bond Type December 19, 2012 January 9, 2013 January 23, 2013 1 year Treasury Bill 1.10% 1.10% 1.07% 3 year Benchmark Bond Yield 1.22% 1.24% 1.20% 5 year Benchmark Bond Yield 1.40% 1.44% 1.40% 10 year Benchmark Bond Yield 1.84% 1.91% 1.87% Source: Bank of Canada Total New Housing Starts (Seasonally adjusted and annualized) Province October 2012 October 2011 November 2012 November 2011 December 2012 December 2011 Newfoundland/Labrador 3,400 3,500 3,700 3,900 3,800 3,000 PEI 800 900 800 1,500 1,300 800 Nova Scotia 9,400 3,300 3,200 2,800 3,200 8,500 New Brunswick 3,000 3,900 3,000 3,500 2,300 3,700 Quebec 43,300 44,500 48,400 47,200 42,800 50,300 Ontario 69,500 73,500 59,700 54,000 78,300 71,500 Manitoba 7,300 7,600 7,300 7,500 4,700 4,900 Saskatchewan 10,900 8,400 11,900 7,200 10,000 5,900 Alberta 33,600 31,600 39,700 29,900 30,000 28,300 British Columbia 28,100 30,400 23,700 28,200 21,800 23,000 CANADA 209,200 207,600 201,400 185,700 198,000 199,900 Source: CMHC Housing Now - January 2012 and January 2013. This seasonally adjusted data goes through stages of revision at different times of the year. Average MLS® Resale Price for Local Markets  City December 2011 December 2012 Halifax $ 254,228 $ 269,098 Saint John $ 162,859 $ 145,445 Quebec $ 254,652 $ 258,313 Montreal $ 319,388 $ 330,655 Ottawa $ 335,330 $ 336,856 Toronto $ 451,436 $ 478,739 Hamilton/Burlington $ 315,940 $ 336,382 Winnipeg $ 268,977 $ 257,719 Saskatoon $ 304,576 $ 324,597 Regina $ 273,919 $ 317,581 Calgary $ 392,661 $ 419,811 Edmonton $ 315,658 $ 329,410 Vancouver $ 689,057 $ 683,875 Victoria $ 469,484 $ 485,945 Source: Canadian Real Estate Association Household Credit Growth

Source: RBC Economics, February 2013