Naru Menon’s Blog
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The Most Brilliant Way to Pay Off Your Mortgage in Canada
Paying off a mortgage faster in Canada can be achieved through lump sum payments, accelerated biweekly payments, and refinancing to lower interest rates. Lump sums reduce principal and interest, often allowed up to 10-20% annually without penalties. Biweekly payments add an extra monthly payment yearly, shortening the loan term. Consulting a mortgage broker and using…
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Canada’s Construction Costs Surge to 2X Inflation Rate
Q2 construction costs ↑ at 2x BoC's 2% inflation target. Home building costs grew 1.0% in Q2, up 3.7% since last year. Non-residential costs jumped even more: 1.6% growth in Q2, 4% yearly increase. Big cost drivers? Plumbing (+3.7%), HVAC (+3.0%), utilities (+2.9%), and steel (+2.7%). Tariffs & labour crunch are pushing prices up and…
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British Columbia Crash or Rebound 2025–2026?
BCREA forecasts a small decline in 2025 home sales (-1.1%), followed by a robust +8.8% rebound in 2026—indicating a V-shaped recovery. RBC expects price declines into 2026 due to high inventory, especially in BC and Ontario. Regional divergence will persist—mountain, interior markets may differ from Vancouver-area dynamics. Outlook emphasizes short-term cooling followed by recovery in…
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B.C. sets new five-year housing orders for 10 more municipalities
British Columbia has set new five-year housing targets for 10 municipalities, aiming to add about 40,000 homes, including over 14,000 below-market rentals. Burnaby leads with a target of 10,240 homes, while Coquitlam, Richmond, and Langley each have targets above 6,000. Some communities, like Pitt Meadows, have raised concerns about the feasibility of these targets due…
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BC Rent Trends Reveal Market Changes in First Half of 2025
BC average asking rent ↓ 4.5% to $2,496 in the first half of 2025. One-bedroom rents ↓ 4.6%, two-bedrooms ↓ 3.5%, three-bedrooms ↓ 1.9%. Studio apartment rents slightly ↓ 0.6% yearly. Purpose-built rental apartments increased rents by ↑ 7% yearly. North Vancouver remains the priciest, with average rent at $3,043.
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Burnaby Rents Down 10% in Late-Summer
Burnaby’s one-bedroom rents fell 10.6% yearly in August 2025. Furnished units ↑ 0.8% MoM. Unfurnished rents followed the regional trend of steady decline. Burnaby ranks among mid-expensive Metro Vancouver rental markets. The city shows minor monthly increases despite annual decreases in rent.
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BoC Rate May Drop to 2.25% by End of 2025
The Bank of Canada may cut rates two more times in 2025, totalling 50 basis points. These cuts could reduce the key lending rate to 2.25% by December 2025. Forecasted cuts respond to economic slack despite recent inflation upticks and global trade tensions. Variable-rate mortgage holders may see lower payments or more principal repaid if…
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Planning for Tax Efficiency
Canada's progressive tax system means higher earners face increased tax rates. To manage this burden, consider using life insurance to cover estate taxes and explore insurance-based investment strategies for tax-free retirement income. Family income splitting can also help, through methods like family trusts and spousal loans. Maximize contributions to RRSPs and utilize tax-free savings accounts.…
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The price has reduced for this Listing, check it out Listing Address: 19696 HAMMOND Unit #41, Pitt Meadows, British Columbia V3Y0G7
Welcome to Bonson by Mosaic – a modern, move-in ready home in one of Pitt Meadows´ most sought-after family-friendly neighborhoods! Less than 5 years old and still covered under the 5-10 year home warranty, this beautifully maintained 3-bedroom,3-bathroom townhome features 10-foot ceilings, oversized windows that flood the space with natural light, new laminate flooring on…
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5 Essential Strategies for Building and Preserving Wealth
High net worth investors adopt essential habits for building and preserving wealth. Key strategies include embracing social responsibility in investments, employing a multi-pronged approach to wealth preservation, and ensuring tax efficiency. Additionally, spending less and investing more is crucial, along with focusing on long-term investments for higher returns. By cultivating these financial habits, individuals can…