So, how can we fix this problem? Easy. diversify.

Mexico Real Estate, in fact, provides a perfect avenue for Canadians looking for to make a solid investment in real estate to “diversify their portfolio.” When diversifying investments, the point is to make investments with good potential for increase in a variety of markets in order to avoid “putting all your eggs in one basket.” Markets such as the the more established Playa del Carmen Beachfront Condo rental market or the up-and-coming Campeche Real Estate area offer you excellent options for diversifying.

Consider this; just like many other Canadians, you have probably already owned your home for quite some time, and the mortgage is already paid, or almost there. Prices on currently on an upswing, but these prices are susceptible to many variables – some economists are already doubting the sustainability of the current price inflation in Canada.

Now, consider the idea of diversity. Your home in Canada is the place where you live, and it does not generate income. For generating income, you could consider a condo on the beachfront in Playa del Carmen. This thriving tourist town is already a favorite for many foreigners looking for the world’s most beautiful beaches – similar to Cancun, but with a “European feel.” (Condos in Cancun, in fact, provide another possibility.) If the correct property is found, renting to vacationers in Playa del Carmen can be a constant, reliable form of income; what’s more, this income property could double as your own vacation condo at low times. Other possibilities exist in Tulum or Progreso (near Merida) also on the Yucatan Peninsula, or in Puerto Vallarta, Mazatlan, Ixtapa or Puerto Escondido on Mexico’s Pacific Coast.

Another type of investment (to further explore diversity) is a property which you improve, in a area where market conditions and the value of the improvement have a good probability of surpassing the cost of the improvement by a considerable margin. One such example can be found in the state of Campeche, which is “across” the Yucatan Peninsula from Playa del Carmen. There is a specific development in this state, where lots with 20 meters of beachfront and a depth of 400 meters are available starting at $55,000 US. The area shows a great deal of promise; with beautiful colonial cities and towns, wide beaches in virtually untouched areas and a new multimillion dollar marina-golf development, a home built on one of these lots shows promise of being worth much more a few years down the road. This is only one example of this type of investment, and other solid possibilities exist both in Campeche, and in Mexico as a whole.

A final point is the current strength of the Canadian dollar. With near parity with the US dollar, this means that funds will go much further in making investing in Mexico diverse real estate market, opening a excellent variety of investment possibilities. For details about investing safely, in the way most suitable for your situation, contact a reliable, experienced real estate agent who knows Mexico’s market well.

TOPMexicoRealEstate NETWORK; Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely

If you’re like most renters, you will have almost every nook and cranny of your small apartment or condo cluttered with knick knacks, collectibles, boxes, etc. For these packrats, it appears the apartment keeps getting smaller. Eventually you’re forced to either get rid of all your stuff or find a bigger place. Houses on the other hand, will be more likely to have extra storage, basements, maybe a garage, and even extra bedrooms. Perfect for all your valuables!

Or maybe you have pets. Most apartment buildings are not friendly to pets, especially to larger dogs or large collections of animals. Finding a private rental house may be just what you’ve been looking for.

Renting a house is not cheap, when compared to renting an apartment. In some cities within western Canada, renting a house is about the same price as renting a townhouse. Of course, this depends entirely upon location and condition or the property.

Typically, renting a house guarantees free maintenance services for the duration of the lease. Ask the landlord who is responsible for repairs (you or the landlord). In most areas, the landlord is bound to guarantee a livable environment for the renters, which includes doing repairs and preventative maintenance. Check with your local tenancy laws about the division of responsibilities. You can usually find these at a local library. In the case of Alberta Canada (where the author of this article resides), these laws can be found at www.HopeStreet.ca.

Renting a home that is under a property manager’s control is also an excellent option. The property manager will be familiar with rules, regulations, and will likely have a large support network in place to support the home in case maintenance or other emergency issues arise. Smart landlords outsource the management of their homes to licensed and trained property managers.

Here are some questions you should ask before signing a lease with a new landlord and a new home. 

1. What is the length of the lease? Are there any penalties for breaking the lease or getting out of the property early?

2. Is a security deposit required? Are deposits refundable and under what circumstances?

3. Who does the yard work and other outdoor maintenance?

4. Who does the indoor maintenance?

5. Can you paint or alter the walls? Can you hang paintings? Can you alter the garden?

6. Is the house insured against fire or other damage?

7. Who pays the utility bills such as electricity, heating, water, etc.?

If the landlord decides to sell the house, by law they must give you a certain amount of notice to vacate the home and find a new residence. Often, the new owner will want to continue to rent the home to you. Check your local laws to see how much time you are allotted to vacate. In some cases, including the province of Alberta, Canada, you have until your lease is up.

Best of all, most homes will rent for far less than the monthly expense of owning them. For instance, a $250,000 home may fetch $1250 per month in rent. In retrospect, based on today’s mortgage rates, the cost to pay the mortgage alone for such a home would be in the $1500 per month range. This doesn’t include additional costs such as property taxes, insurance, maintenance, mortgage insurance fees, etc. Now, let’s not forget that the owner would also be able to collect a return on the purchase price of the home should he or she elect to invest it elsewhere, which must be factored into the calculations. Renting a house provides all the enjoyment and benefits of home ownership, but at a fraction of the cost and without the long term commitment. Let the landlord take the long term expensive commitment, while subsidizing your home’s expense.

Actually, for the past 11 years my son and I have altered from that routine. We leave the comforts of home for parts unknown and travel over Christmas. We don’t see it as breaking tradition, but, rather, creating new traditions, and, in the process, creating memories to last our entire lives.

I noticed a curious thing one Christmas when my son was about 8 years old. All those toys I so painstakingly searched for, ordered from catalogs, stood in line at the post office to receive, wrapped and distributed under the tree were opened, played with and forgotten about within a day. Christmas, it seems, had become a one-day wonder, much anticipated and quickly forgotten.

I began to think back on my own family traditions growing up. What did I remember most? To be honest, toys weren’t the highest things on my list. Oh, sure, there was the occasional doll or stuffed animal, but I can’t honestly remember which Christmas I received which gifts. What really stuck out in my mind, though, were the times my mother would take my brothers, sister and me to a local park, where we would enjoy the “picnic breakfast” she had packed of powdered donuts and little individual boxes of cereal. We were a poor family, so those little cereal boxes were a big deal to us. But, what was an even bigger deal was my mother setting aside time just for us.

That’s when I realized that the best gift I could give my son was me. My time. My attention. I decided that my son and I would begin creating our own Christmas tradition by taking a journey together over the Christmas holiday. That one journey spawned the next one, and the next one. And now? Well, it’s tradition, and it’s been that way for 11 years.

Did my son miss his tree and toys at home that first outing? Actually, he didn’t. Although I did give him a couple small packages to open, he felt special helping us create our own Christmas traditions.

Of course, I also benefit from this new tradition. I have memories of my son that will last my entire life. I remember one of our early Christmases staying on Coronado Island near San Diego. My son thought it was pretty cool that on Christmas day we were having Christmas dinner at the Hotel del Coronado. It was one of my favorite Christmas dinners, and no cleanup!

Strolling along the beach in Coronado was also the place he shared with me what he wanted to be when he grew up – a circus performer. He tried to imitate the acrobatic moves he’d seen and landed hard on the sand. I could tell his pride was bruised, so I didn’t say a word, just held out my hand to him to let him know I’d always have his back.

Well, 11 years later, he’s now a student at l’École Nationale de Cirque in Montreal, Canada. That’s right, a circus school. One of the best circus schools I might add. And, last Christmas, on our ski vacation to Vancouver, I took a hard tumble onto the snow during one of my ski lessons. And, though he could tell my pride was bruised, he didn’t say a word, but just held out his hand to me to let me know he’d always have my back too.

So, would I go back and change anything about our Christmases together? With memories like those, not a chance.

The hot housing market is being fuelled by mortgage rates which are the lowest they’ve been in almost 50 years. First-time home buyers are finding the rates attractive, and home buyers are lining up to purchase their first home or to upgrade to their dream homes. Housing statistics have been capturing headlines for months and the boom is noticeable on key economic indicators.

But the news isn’t just about rising valuations or Canadians moving into their new homes. Quietly in the background, there is a significant trend to refinancing. Canadians who have built up the equity in their home over the last few years are borrowing against that equity in record numbers. According to a report from a major bank, since 2001, Canadian households have taken out approximately $20 billion in cash out of their homes through mortgage refinancing and home equity loans.

We might thank the Ontario mortgage industry for the surprising resilience of the North American economy. In the past two years, the North American economy has endured numerous economic fallouts but consumer confidence remains reasonably strong – at least partly because homeowners have seen some of their losses offset by an increase in their real estate wealth. We find that we are sitting on (and sleeping in) the best-performing investment we own. And even if they have no plans to sell, homeowners have found that the return on their investment is still as good as cash in the bank.

That cash has been a key economic stimulus both here and in the U.S., where the trend is even more pronounced. As Canadians look beyond the view of a home as primarily shelter, mortgages become a valuable resource – and homeowners aren’t necessarily waiting for renewal time to cash out some of their gains.

So where is the money going? The equity being pulled out is often being used to pay down other more expensive debt. Credit card interest rates are shockingly high and – as a nation – our credit card and other consumer debt is continuing to grow. And much of the money is being used for increased spending. There has never been a better time to borrow against home equity to build the kitchen of your dreams, add a new wing, embark on the landscaping project you’ve wanted for years, enjoy the vacation you’ve always dreamed of, or help with the high cost of post secondary education. However, as always, never let your enthusiasm for the opportunity to spend get in the way of good common sense about debt management.