How to Save Thousands of Dollars in Interest and Pay Your Mortgage Off Faster

There are a few easy ways to make extra principle payments that can save you a ton of money in interest expenses and get you mortgage-free sooner than you thought possible. Here are a few simple strategies you can use:

1. Round your monthly payment up The results of this simple strategy can save you a fortune and drastically reduce the length of your mortgage. As an example, if your monthly mortgage payments were $734 dollars a month, but you rounded it up to $800 per month, you would save more than $48,000 in interest payments, and reduce the length of your mortgage by 7.5 years!

2. Make One Time Pre-Payments Using Your Income Tax Refund This is an easy way to save money and shorten your mortgage. For example, if you have a $100,000 mortgage, and you have a $1000 tax refund this year, you take apply that refund to your mortgage. Over time, this will save you more than $8600 and shave 1 year and 1 month off your mortgage! That's another amazing result from a simple strategy.

3. Choose a 15 Year Mortgage If you can afford it, you are far better off getting a 15 year mortgage instead of 30. It won't cost you much more, and the interest savings are truly incredible. If you have a mortgage of $100,000 at 8% interest over 15 years, your monthly payment would be about $200 more, but you'd end up saving $92,083 in interest over the life of your mortgage! Using these strategies is the easiest way to reduce your interest expenses and shorten your mortgage period.

 

...

I have a great system you are on to receive everything imaginable with reminders for everything from canceling utilities to booking moving trucks. So expect to hear more from us as we get closer to the date.

Generic (Moving):

Hire a mover, booking a mover toward the end of the month can prove difficult or expensive so be sure to book as far in advance as possible. Moving is a super local business and everyone has a different experience. We suggest looking up local movers and looking for a 5 star review. Call and get 2-3 quotes.

Hire an end to end moving experience - https://torontolife.com/real-estate/luxury-move-management/

Get a moving truck - Do it yourself Booking a truck toward the end of the month can prove difficult as they are in high demand so make sure you book as far in advance as possible.

Uhaul (289) 326-0341
Penske (289) 812-7144
Discount (905) 828-1177
Budget (905) 855-6910 Enterprise  (905) 844-6644

Store My Stuff
Book a Storage Unit On demand
PODS delivery  +1 855-706-4758
Smartstop self storage (289) 210-0232 

Not only have you spent a considerable amount of time finding a new place, you now have to pack up everything you own, put your boxes on a truck and unload it all in your new home. The day has arrived. And although there’s bound to be a bit of sadness about leaving your old home behind, there will be just as much excitement moving into your new one.

Here are some tips for a smooth move: This must-follow list will make sure your moving day goes as smoothly as possible.

• Make small trips with the fragile items before moving day, better be careful with those heirlooms! Instead of using up paper, why not wrap them in bedsheets, towels and clothing that’ll be one less thing to move and it’s an eco-friendly solution! It’s also a good idea to move plants ahead of time since they tend to take a lot of space in a truck and can’t be piled up.
• Label your boxes AND only put things that belong together in the same box. When you pack, work room by room and clearly label the box with the room and the category (like “Kitchen – Pots & pans” or “Office – Supplies”).
• Plan to have someone guiding the movers at both the new and old place Once you’ve clearly labeled your boxes, this should be easy enough! When moving out, go through your “inventory” beforehand to make sure you don’t forget anything behind and describe what you have to the movers. In the new place, simply let people know where the rooms are as your marked boxes are to go in the right room!
• Use small boxes for small and heavy items, and large boxes for bulky and light items. It’s happened to all of us—you’re helping a friend move and are stuck having to tackle a gigantic box. To your great dismay, the box is labeled “Books”. Don’t be that person.
• Prepare for closing day: If anything is not working, you should reach out to your lawyer immediately to let them know it's not in working order, as is laid out in the offer.

A few things to check for a smooth closing: -Leave a note on the counter for new owners with all keys/ codes to garage doors ect (See sample) - run the HVAC (AC and Furnace) - Change the furnace filter. - no debris/ garbage left - Everything is there and working. i.e. appliances. Run a load in dishwasher, and Washer/ Dryer. - Paint cans and extra furnace filters (only if you have) in utility room (labelled if possible) - Good clean 

Plan: Think about the things you want to be packed together. Organize your possessions so that the cartons can be labeled with the contents and according to the room in which they will be placed in your new home. (if applicable) Remember to cancel with property manager + Book elevators ect Book your move now.

Tip: If you intend to move at the end of the month, contact a moving company or truck rental company well in advance. If you can move mid-week or mid-month, your moving company might cut you a deal.

• Make sure you get competitive quotes from reliable moving companies. Or, to save money, find out how much it would cost to hire a moving van yourself (And bribe your friends to help you)
• On moving day, plan an easy meal like picking up some take-out. Moving is stressful enough without having to cook
• Make a moving checklist that details a plan for things that need to be done weeks before you move all the way up to moving day itself
• You don't have to worry about burnt out lightbulbs, or nail holes in walls. Just picture if you were the buyer how you would expect to get the home.
• Count on being out of your home by 12PM - On closing day I always like to recommend that you plan on movers/ moving out the day before as you will not know at exactly what time the deal will close, the buyer would expect that youre not in the home at the time it closes. Usually you will get the call from the lawyer that the deal has closed between 2-4pm.

There are a few critical things to-do when moving out/ day of closing :

• Make sure no garbage/recycling, and give it a good clean. Make sure to get the fridge too????
• Please leave the note on the counter for new you with all keys/ codes to garage doors, mailbox locations, etc.
• Ensure all appliances working.
• Count on closing between 12-5pm, so be out by 12. I always suggest moving out/ movers for the day before.
• DON'T WORRY you've got this! Take ALL of your garbage/recycling with you too, please. This includes any old reno materials + paint. 

Wow, you have a lot of stuff! While we can’t come to your place and liquidate your unwanted goods with a cartoon pulverizer (that's for a future version of MoveSnap), we can definitely help you get your junk in the right trunk. Junk Removal For high-volume junk clearance, your best bet is to hire the pros. With MoveSnap, you can receive $35 off Junk Removal from 1-800-GotJunk, the world's largest junk removal service. They'll be happy to find options in your area. 

Please do not do any of the things listed below:

• Pack all your cleaning products in a box Because you’re a nice person, you’ll, of course, want to clean your old place before you leave! Keep some essentials like disinfecting spray, paper towels, bathroom cleaner, sponges, a mop and a broom handy for when the big job is done and you can tackle those pesky little corners.
• Cram too much into a box
• Get in the movers’ way when they’re moving objects Simply direct them. You have the easy job!
• Water your plants too close to the move Freshly watered plants are heavier and could drip all over your car. To avoid both issues, water your plants a maximum of 48 hours before the move. But don’t forget to give them a little love once they’re in the new place!
• Valuables DO NOT PACK watches, jewellery, money or important documents. Take these articles with you.
• Worry! Just remember Rome wasn't built in a day! You've got this! Follow these steps for a smooth and stress-free moving experience.

Additional Checklist Post-Move:

• Deep clean and disinfect everything
• Replace the toilets/ toilet seats
• Change the locks or upgrade to a smart lock. Change the old owner's codes on garage doors etc.
• Check all smoke and CO detectors for expiry.
• Buy and keep a fire extinguisher in the kitchen
• Professionally clean the wood burning fireplace/ Clean out the lint trap for the dryer/ Get an Air duct cleaning
• Set up reminders for seasonal items i.e. changing furnace filters
• Print our home seasonal home maintenance checklists to keep on hand
• Updating automated scheduling/ timers - furnace/ lights etc. 
 • Here’s how to order new carts should they not be there when you arrive at your new home:

Halton: Drop by pickup ? Located at 5400 Regional Road 25, Milton  ? Open Monday to Saturday from 8:00 a.m. to 4:30 p.m. The HWMS is closed for all statutory holidays.
Peel: Heres how to order new carts should they not be there when you arrive at your new home https://peelregion.ca/waste/collection-schedules#collection-moving
• Get Waste reminders - Every city and municipality has a different waste collection schedule and follows different guidelines for what goes in the recycling, garbage or compost bin (if applicable). GarbageDay is a FREE app that helps you with all that and more. 

Ohhh, and if you've bought a home: Don't buy any large ticket items between now and closing...if you are obtaining a mortgage. Unless you speak to the bank and have their approval You might need contractors, insurance providers ect we’ve got a list for that! 

 

 

 

...

Updating My Utilities and Services

TV, Internet & Phone:
Most people would say if they could only take one thing to a deserted island it would be a WiFi connection! Make sure your new home isn’t an internet desert by setting up your services before you move.

Milton Hydro Distribution Inc. Phone 1-855-848-9489
Alectra -- formally Enersource Hydro Mississauga Inc.
Toronto Hydro-Electric System Limited Phone 416-542-8000

Gas: A barbecue in the summer. A toasty furnace in the winter. A working clothes dryer. What do these wonderful experiences have in common? Natural gas in your home. Make sure the lines are open before you move in.

Union Gas Service (Oakville, Milton, Burlington, Hamilton) Phone (888) 774-3111
Enbridge Gas (Mississauga, Toronto) Phone (877) 362-7434

Setting up your phone and internet:

Rogers 1-866-841-3705 
Cogeco 1-855-887-7774
Bell 1 866 310-2355 

Update My Electrical Services: Don’t get caught with the lights out. Make sure you close / transfer your electricity account before you leave your current home or open an account in your new home.

Oakville Hydro Phone 1-905-825-9400
Burlington Hydro Inc. Phone 1-905-332-1851
Alectra -- Formally Horizon Utilities Corporation (Hamilton)

Water: The movers have left. The furniture is in. You’ve started in on the boxes. It’s been a 17-hour day. What’s the worst thing that could happen now? The answer is no running water for your post- move shower. Don’t let this happen to you. Close / transfer an existing water account or open a new one.

Oakville Hydro Phone 1-905-825-9400
Burlington Hydro Inc. Phone 1-905-332-1851
Alectra -- Formally Horizon Utilities Corporation (Hamilton) 
Milton Hydro Distribution Inc. Phone 1-855-848-9489 
Alectra -- formally Enersource Hydro Mississauga Inc.
City of Toronto Phone 416-392-2489

Hot water heater rental:
Do you currently have a rental hot water heater? Remember to let us know so we can let the buyer know. Also set up the rental payment for your new home’s hot water heater. Other Rentals In condos its common for the heat exchanger to be rented. Inquire whether yours is or not. It should say right in the listing, if you are purchasing It’s becoming increasingly common to see.

Rental: Furance/ AC/ Water softeners. Given the inflated costs rental companies add to these products and the product lifespan/ maintenance required we never suggest that you rent these. 

Home Insurance: 
Your Home - Helps to protect your home and detached structures on your property (such as a storage shed) against insured risks like fire, wind, hail, theft and more.
Your Belongings - Helps to protect you financially against insured damage or loss to furniture, clothing and other personal property inside your home or vehicle.
Living Expenses - Helps cover expenses like a hotel room, storage costs and more if you can’t live in your home while repairs are being made after an insured loss.
Liability Claims - Helps to protect you financially if you accidentally cause property damage or bodily injury to others — at home or anywhere in the world. Find more information on Homeowners Insurance here Condo Insurance I own a condo unit and need coverage to protect myself and my property.

Condo Insurance:
Your Belongings - Helps to protect you financially against insured damage or loss to furniture, clothing and other personal property inside your condo unit or vehicle.
Unit Upgrades - Helps to protect upgrades and improvements (such as better flooring, high-end light fixtures or granite countertops) you or a prior owner have made.
Living Expenses - Helps cover expenses like a hotel room, storage costs and more if you can’t live in your condo while repairs are being made after an insured loss.
Liability & Shortfalls - Helps to protect you financially if you accidentally cause property damage or bodily injury to others or if there is a shortfall in your condo corporation’s coverage.

Tenant Insurance: 
Your Belongings - Protects you financially against insured damage or loss to furniture, clothing and other personal property inside your rental home or vehicle.
Living Expenses - Helps cover expenses like moving costs, a hotel room and more if you can’t live in your rental while repairs are being made after an insured loss.
Liability Claims - Helps to protect you financially if you accidentally cause property damage or bodily injury to others at home or anywhere in the world.

Seasonal or other property insurance:
Revenue Property - Own a home, townhouse or condo unit that you rent out for income? We can help to protect your property and the rental income you receive from it.
Seasonal or Second Home - Insure a property that you only use for one or two seasons a year—or that you use year-round as a secondary residence.
Cottage - If you own a cottage or cabin, you can insure it with specialty Cottage Insurance with the option to choose seasonal, secondary or rental coverage.

Taxes:
For sellers: Please pay any tax bill that has a due date prior to the closing date, make sure to provide the receipt of payment to the lawyer
For buyers: Also, make sure that you set up automated withdrawals with the city for your taxes. You will get your first tax bill in the mail shortly. 

Management setups:
Bought: Get setup with management + Book elevators etc
• Get details / forms for buyer.
• Provide all management contact info
• Provide Concierge phone number
• Photos of parking locations and Locker locations
Sold: Remember to cancel with property manager + Book elevators etc.

Updating documents & ID’s

International Services Passport:
Open your current passport to page 4. Fill in your new address in the provided space. When you go to renew your passport, you can then inform the government of your updated address. Pro-tip: If you’ve already filled out your address, simply cross out the current address and write in your new one. However, just like your 90s high school exams, you may not use Wite-Out or any other correctional fluid.

NEXUS Card: Make sure you notify the Canada Border Services Agency about your address change to avoid losing your privileges and having to rejoin the security lines that snake around the airport for three miles in either direction.
          What You'll Need
• Your Trusted Traveler Programs* account number and password.
• Your new address. *If you didn’t apply for your NEXUS card using TTP, you can create a new account here How To Do It Online Log into your TTP account. On the dashboard (right-hand side), click the link that says “Mailing Address” and follow the instructions on the page.

Immigration Card: If you have an immigration or visa application pending, you must immediately inform Citizenship and Immigration Canada (CIC) about any address changes. Failure to notify CIC could result in the delay or even disqualification of your application. In extreme cases, this could even lead to arrest or detention.
          What You'll Need
In order to complete your address change online with Immigration Canada, you’ll need to check off the following:
• Your case is currently being processed in Canada.
• You have a Canadian address.
• You are moving within three weeks or have already moved.
• A copy of your initial application
• Your fee receipts (IMM 5401).
• Any letters or official documents issued to you by Immigration, Refugees and Citizenship Canada. In addition to these criteria, you must also have completed at least one of the following:
• Sponsored a member of the family class.
• Applied for permanent residence while residing in Canada.
• Applied for a Permanent Residence card.
• Applied for Canadian citizenship (for yourself or for a person adopted by a Canadian citizen).
• Applied for a citizenship certificate (proof of Canadian citizenship).
• Applied for a search of citizenship records.
           How To Do It Online
Visit the Citizenship and Immigration Canada website and complete the Change of Address form online. The update should appear on your file within 5 business days.

Provincial Services Update Government ID:
The good news: You can update your driver's licence, health card, and vehicle registration at the same time. The less-good news: You'll need to collect a fair amount of documentation in order to make it all happen.

Driver's License + Vehicle Registration:
          What You'll Need
• Driver's license number from your current license OR registrant identification number (RIN) from your vehicle registration.
• Postal code last reported to the Ministry of Transportation.
• Your complete new residential address (where you’ll live), including proof of residence.
• Your complete new mailing address ( where you receive your mail if it’s different from where you’ll live).
• Find out when you need to update your address on your license.

Health Card:
If you have the red and white card, you'll need your health card number and the postal code for your current address. If you have the updated health card, you'll need your health card number, postal code for your current address and the last 4 characters of the citizenship or immigration document (birth certificate, citizenship, etc.) that you used when you applied for your photo health card.
            How To Do It Online: Visit the Service Ontario web portal and follow the instructions on the self-service page. Driver's license You should receive your new driver’s license within 4-6 weeks after the successful completion of your application. You won’t receive a new health card since your address doesn’t appear on the actual card, but your new address will be updated in the system.

Vehicle Registration: 
You will have to physically pick up your new vehicle registration from a Service Ontario location. It’s a good idea to book an appointment in order to reduce wait times, unless you love any excuse to play Sudoku, in which case we recommend showing up during lunch hour.

Mail Forwarding:
Canada Post offers a service that will redirect your mail to your new home address for 4 or 12 months. You can purchase this service online or in person at your local post office. Please note: You have to renew this service each time it expires or a cabal of tiny post office elves will resume sending your mail to your old address. FYI: Mail Forwarding does not include parcels, newspapers, or prepaid envelopes.

Federal Services:
Canada Revenue Agency Taxes are no fun, but did you know there’s one thing that’s even less fun than taxes? It’s true! That would be missing your tax returns or benefits because they went to the wrong address. Make sure you inform the CRA within 10 days of your move to avoid delays or sticky red tape.                   What You'll Need
• Canada Revenue Agency user ID and password (or log in using a CRA Sign-in Partner).
• Social Insurance Number (SIN).
• Date of birth.
• Current and previous year's tax returns to verify your identity.
• Current postal code.
           How To Do It Online 
You’ll need to create a CRA login account using your SIN. Once you complete registration, the CRA will mail you a unique code which you can then use to access your personal e-file. If you have an hour or four to spare, you can also call the CRA directly to ask a live human to change your address.

Individual tax inquiries phone 1-800-959-8281
Canada and United States Benefits Inquiries phone 1-800-387-1193
Canada and United States Individual tax and benefits inquiries phone 1-866-426-1527

My Service Canada: is an umbrella platform under which you can access your Employment Insurance Payments (EI), Canada Pension Plan (CPP), and Old Age Security (OAS). Update your address on their system at least 10 days before you move to ensure you don’t miss any payments.
          What You'll Need
• My Service Canada Account (MSCA) personal access code.
• Social Insurance Number (SIN).
• Date of birth.
• A parent’s family name at birth.
• Current postal code.
          How To Do It Online
You’ll need to request a MSCA personal access code by mail. Once you receive your code, you can complete your registration online Note: Receiving your code can take up to 10 business days. Depending on your pain threshold, you can also phone Service Canada, or visit your nearest Service Canada Centre in person.

Service Canada phone 1-800-206-7218

Financial Institution:
Be sure to inform your financial institutions of your address change. Investment Firms If you have an online trading account, you can typically change your address via the same web portal. If your investment firm does not provide online address change, call them at the number found on your statements.

 

 

 

...