If you want to take advantage of the $1,350 home
renovation tax credit, you’ll need to get that renovation
done before February 1, 2010. So if it’s time for a new
roof, new flooring, or a fresh new recreation room . . .
this is the time to get it done.
Here’s the detail. For renovations done between January
28, 2009 and February 1, 2010, you’re eligible to
claim a 15% credit against your renovation expenses
after the first $1,000. The maximum tax credit is
$1,350, which represents $9,000 worth of renovations,
and comes directly off your taxes owing.

A wide range of renovation expenses qualifies for the
credit; go to the Canada Revenue Agency web site at
www.cra.gc.ca where there is a list of eligible expenses.
If your renovation project includes some energy-saving
home improvements, you may also be able to tap into
grant money under the ecoENERGY retrofit and other
government and local programs. You may therefore be
able to benefit from both of these incentive programs
for one renovation project.
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“Will it keep you awake at night? Will you constantly be checking to see what rates doing? Do you think you might panic and lock in if rates are starting to rise?”

All of the above are questions that I ask a client before I give them my perspective on whether a fixed or a variable (adjustable) rate mortgage is right for them. I ask them these questions because I think that choosing between the two options is less of a question of which will save you more money, but more a question of a persons risk tolerance. (more…)

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Merix 50/50 from Nolan Matthias on Vimeo.

A quick discussion of the Merix 50/50 product. Gives you the security of fixed with the savings of adjustable rates, as well as the ability to pay either down independently. If you are on the fence with respect to which way to go, and your risk tolerance, this might be the product for you!

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