• We are very concerned for our everyday Canadians, but mostly our own mortgage clients. Why do we worry? Where the other size of a healthy real estate market is higher debt. At Robert Floris’ Mortgage Architects office, we want our clients to have a positive experience with home owning. Money troubles bring negative consequences:

    • Worry and anxiety
    • Marital difficulties
    • Stress which impacts your health
    • Social embarrassment

    It is very expensive to live in Ontario. It is great that mortgage rates are now low, however, there are other factors. If you are considering having a family, please understand that monthly daycare costs are between $1000 to $1400. Other debt items to ponder:

    • If mortgage rates jump, can I survive? (A recent article on the Financial Post indicates that half of Canadians would struggle.)
    • Do i have a lot of outside debt robbing me of cash flow? (Canadians as a whole owe $1.67 of debt for ever $1 they earn.)
    • With larger mortgages, the mortgage payments are climbing faster than inflation

    At our Hamilton office, we tell clients if you cannot save money, do not buy a home. If you are a homeowner and ate struggling, consider the following:

    1. Can you refinance to improve your cash flow and start a savings program?
    2. Can you downsize?

    The time to consider this is now while you still have choices.

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