Condo reserve funds: Why they’re so crucial for the health of the building

Condos can be fixer-uppers too.

Home inspections can warn prospective buyers of upcoming critical costs — such as a new roof or a leaking basement — but buyers in the condo market might not have the same clarity.

First of all, they have to parse through the current finances and legal position of the condo corporation. Second, they have to size up the reserve fund set aside to pay for major upkeep and repairs for the future of the building. Financial disclosure documents will show what costs are coming up.

And lastly, buyers have to do the math: How old is the building? How many repairs have already been done? Is this fund enough for the future?

How soon will Canadians feel the carbon levy’s demise? Depends what you’re buying

CALGARY - Prime Minister Mark Carney killed the consumer carbon levy as one of his first acts upon taking office earlier this month. As of April 1, the price everyday Canadians pay for emissions is to be set at $0. 

Here is what consumers can expect: 

Fuel

Patrick De Haan, head of petroleum analysis at GasBuddy.com, said Canadians should see a “pretty sizable rollback” in fuel prices within 24 hours of the retail carbon charge being removed. 

Price vs. patriotism: How to shop Canadian without blowing your budget

To balance prices with patriotism, experts agree shoppers should first evaluate how much they can comfortably spend and then think about how staunch they want to be about shopping Canadian.

Tariffs are sending markets on a wild ride. Here’s advice for young investors

As the trade war between Canada and the U.S. brings a heaping spoonful of additional volatility to the stock market, experts say it could just be a blip in young investors' portfolios — if they stick it out. 

Moving to a new home? How to save on costs whether you hire movers or do it yourself

While it's exciting to move into a new home, it can cost thousands of dollars. From hiring a moving company to paying for temporary storage, the bills can add up. 

Experts say if you’re looking to save money on your move, you’ll have to do more work yourself — and be prepared to do some serious decluttering. 

“I think the first step would probably be to purge what's not needed anymore or what has no value for you,” said Shawn Filion, a financial adviser at Desjardins.

One of the biggest costs can be hiring a moving company, if you decide to take that route. It’s significantly more expensive than renting a U-Haul, but way less work. 

Want to get into cycling? Start slow before shifting into high gear, experts say

When people decide to start cycling to work, they sometimes go overboard. They think they need to buy excessive gear, specific clothes, the perfect bike — they commit to five days a week, no matter what.

Hungry for yield? Loading up your portfolio with dividend stocks can come with risks

Having an investment portfolio chock full of dividend-paying stocks can provide an income boost, but experts say it's possible to have too much of a good thing.

“If you buy a business that's declining and paying you a good dividend, that does not help you,” said Matt Manara, executive vice-president and portfolio manager at Avenue Investment Management. 

Typically, investors will screen stocks for yield in a lower interest rate environment, Manara said, since savings accounts and fixed-income investments like Guaranteed Investment Certificates have meagre returns in that scenario — it pushes investors to hunt for yield in the stock market. 

But just because a company has a high dividend yield, it doesn’t necessary mean it’s a good investment.

Living paycheque to paycheque? Here’s how to break the cycle

It can be a common misconception: living paycheque to paycheque only happens to those that earn a low income. But that’s not always the case.It can affect anyone, no matter their income level. 

Why buying Canadian is more helpful than investing Canadian

TORONTO - A stirring of unfamiliar patriotism in response to U.S. hostility is leading many Canadians to spend money closer to home, but on the question of investing more domestically, experts say there’s less reason to shift habits.

Investing more in Canada has been a hot topic in recent years as companies and the federal government have been working to get big pension funds to allocate more capital within the country. 

The argument, pushed forward by investment firm Letko Brosseau and more than 90 business leaders in an open letter last year, is that investing more in Canadian companies would help lower their borrowing costs, increase their growth prospects and generally make Canada more attractive.

“These competitive businesses deserve our support, and we must create many more. Increasing investments in Canada should be a national priority,” the group said in the letter.

What to expect when making the jump from renting to home ownership

Going from renting to owning is a major life upgrade — but now that your name is on an asset, you have to take care of it.

“Honestly, I think the biggest shock for people moving out on their own, and out from a landlord, is really that they don’t get to call the landlord now when something goes wrong,” said Jennifer Queen, Realtor with The Queen Team, Re/Max Professionals, in Winnipeg.

Properties require regular maintenance, especially houses — from eavestroughs, dryer vents and furnace filters, to water drainage away from the house, Queen said.

“If you’re new to this — you don’t have a parent or a family friend that can advise you — I would honestly hire a home inspector to come out, even post-purchase, just to familiarize yourself with the property and what to do,” she said.

Need U.S. dollars for your March break vacation? Tips to save on exchange rates

Canadians wondering how best to pay for items in U.S. dollars as spring break comes on have several options, with savings on currency conversion all the more critical as the loonie hovers near 22-year lows.