Monday, June 13, 2011

Where's Summer? Vacation property faq's...

With the weather we have been getting some are beginning to wonder if we are going to get a summer!

Tonight as you know is game 6 of the finals! Go Canucks!

Some great info for you! Home economics:

Pros and Cons of purchasing Vacation Property with friends!

As the price of real estate continues to increase, shared ownership is a great way to spread the financial burden.



  • Come to the table with an equal amount of funds

  • Put together a long term budget of principal, interest, maintenance and unexpected costs

  • Have a clearly written agreement which has been looked over by a lawyer

  • Make sure the Title is sorted out - Tenants in common or joint tenants with right to survivorship, what's the difference?

  • Cover your beneficiaries with enough life insurance to pay off the mortgage

  • Keep track of all reno spending for tax purposes

  • If one party has a mortgage on it, don't pay your half in cash, in case of default by the other party as you are liable to pay off the mortgage debt, or risk losing it.

Vinegar kills dandelions


This is a great alternative way to getting rid of the over abundance of dandelions. Try to spray when not windy as the vinegar can harm your other plants and grass. If you have dug up the dandelions you can add a couple of drops to the roots to clear them up. (Complements Postmedia News)

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