Blog Archives - Page 28 of 35

Top 3 Misconceptions About Reverse Mortgages

October 14, 2020 By Administrator

1. The Bank Owns Your Home.

Over 50% of Canadian homeowners over the age of 65, believes the bank owns your home once you’ve taken a reverse mortgage. Not true! We simply register our position on the title of the home, exactly the same as any other mortgage instrument, with the main difference in the flexibility of not having to make P&I payments on the reverse mortgage.

2. Your Estate Can Owe More Than Your Home

A reverse mortgage, unlike most traditional mortgages in Canada, is a non-recourse debt. Non-recourse means if a borrower defaults on the loan, the issuer can seize the home asset, but cannot seek any further compensation from the borrower - even if the collateral asset does not fully cover the full value of the loan. Therefore, when the last homeowner dies (and the reverse mortgage is due), the estate will never be responsible for paying back more than the fair market value of the home. The estate is fully protected – this is not the case for almost any other mortgage loan in Canada, which is full recourse debt. So read the fine print the next time you offer to co-sign for a loan for mom!!

3. The Best Time to take a Reverse Mortgage is at the End of Your Retirement

This is a common mistake that reflects the “old-school” financial planning mentality.

For the majority of Canadians (without a nice government pension), the old school financial planning mentality is about cash-flow, and is as follows:

a) Begin drawing down non-taxable assets to supplement your retirement income.
b) Once your non-taxable assets are depleted, begin drawing down more of your registered assets (RSP/RIF) to supplement retirement income.
c) Once your registered assets are depleted, sell your home, downsize and re-invest to generate enough cash-flow to last you until you die.

The problem with the “old-school” financial planning model is two-fold:

91% of Canadian seniors have no plans to sell their home (CBC News “Canadian Boomers Want To Stay In Their Homes As They Age).
You are missing out on a huge tax-saving opportunity by not taking out a reverse mortgage in the beginning of your retirement.

“Research has consistently shown that strategic uses of reverse mortgages can be used to improve a retiree’s financial situation, and that reverse mortgages generally provide more strategic benefits when used early in retirement as opposed to being used as a last resort.” - Jamie Hopkins, Forbes

In Canada, a reverse mortgage can be set-up to provide homeowners with a monthly draw out of the approved amount. For example, the client is approved for $240,000 and decides to take $1000/month. This is deposited into the clients’ bank account over the next 20-years. Interest accumulates only on the amount drawn (i.e.: not on the full $ amount at the onset).

This strategy allows clients to draw down less income from their registered assets to support their retirement lifestyle. In turn, this can create some excellent tax savings, since home equity is non-taxable. Imagine lowering your nominal tax bracket by 5 – 10% each and every year over a 20 year period?! The tax savings can be huge. You are also able to preserve your investable assets, which historically, can generate a higher rate of return when invested over a greater period of time.

September Newsletter 2020

September 28, 2020 By Administrator

It’s time to go back to school… for your finances! The Fall is the perfect time for a credit clean-up so that you are ready for the holiday spending season.

When it comes to cleaning up credit, there is no better time than now to recognize the importance of your credit score and check if you are on track with your habits. To get started with your credit clean-up, there are a few things you can do:

Pull Your Credit Report:

For most of us, our credit score is something we only think about when we need it. However, if you are unsure of where you stand, this is a great time to find out! The Fair Credit Reporting Act lets you get one free credit report every year through Equifax or TransUnion. Pulling your own credit report results in a “soft” inquiry on your report and will not affect your credit score. Click here to get your free credit report today!

If You Find Errors, Dispute Them:

When doing your annual credit score review, it is a good idea to go through line-by-line and confirm no errors. If you find any errors, report and dispute them immediately as they could be affecting your score.

Consolidate Your Loans:

One of the best tips for managing your credit and working towards future financial success, is to consolidate your debt. Consolidating debt means reducing multiple loans to a single monthly payment, which typically has a lower interest rate allowing you to maximize spend on the principal amount.

Once you have put the effort into cleaning up your credit, you will want to keep it that way! A few tips for maintaining your credit and maximizing your financial future include:

Pay Your Bills:

This seems pretty straight forward, but it is not that simple. You not only have to pay the bills, but you have to do so in full AND on time whenever possible. Paying bills on time is one of the key behaviours lenders and creditors look for when deciding to grant you a loan or mortgage. If you are unable to afford the full amount, a good tip is to at least pay the minimum required as shown on your monthly statement to prevent any flags on your account.

Pay Your Debts:

Whether you have credit card debt, a car loan, line of credit or a mortgage, the goal should be to pay your debt off as quickly as possible. To make the most impact, start by paying the lowest debt items first and then work towards the larger amounts. By removing the low debt items, you also remove the interest payments on those loans which frees up money that can be put towards paying off larger items.

Stay Within Your Limit:

This is key when it comes to managing debt and maintaining a good credit score. Using all or most of your available credit is not advised. Your goal should be to use 30% or less of your available credit. For instance, if you have a limit of $1000 on your credit card, you should never go over $700.

NOTE: If you find you need more credit, it is better to increase the limit versus utilizing more than 70% of what is available each month.

Whether you qualify for a mortgage through a bank, credit union or other financial institution, you should be aiming for a credit score of 680 for at least one borrower (or guarantor). If you are ready to start your home-buying journey, or are looking to refinance your existing mortgage, a DLC Mortgage Broker can help you review your credit score and financial information to help you get the most from your money.

Did you know? According to a 2019 RBC Family Finances Poll, 9 out of 10 parents (96%) are financially supporting their children (ages 18-35 years). On average, this costs parents $5,623 per year! This is an added cost that many parents cannot afford. In fact, approximately 3 in 10 parents (32%) are seeing delayed retirement in order to help kids with post-secondary costs and are facing an inability or delayed response in paying off their own debts.

As much as parents want to help their kids, it should not be done at the jeopardy of your own future. In fact, when it comes to teaching your children about money, there is no better time to start than now!

Financial independence is a critical skill for future success that your children will not learn anywhere else. Not only does financial literacy help your children have more success in life, but it allows them to move out sooner and it avoids delaying retirement!

So, how do you teach your children about money?

Review Your Attitude Towards Money

The first and most important thing is to examine your own attitude towards money. Are you a penny pincher? Frivolous spender? Do you buy on impulse, or take a long time to make a purchase? How much debt do you have? Your financial habits will shape your children’s. To ensure that you are setting them up for their best financial future, parents need to consider what messages they are sending with their own money habits.

Give Your Children an Allowance

Providing an allowance to your children (especially one exchange for chores) is an age-old way of teaching your kids about money. A good guideline is $0.50 to $1.00 per year of your child’s age. For a 10-year-old, this would be $5 to $10 per week.

Teach Your Child to Save

If you are giving your child $10 per week in allowance for chores, encourage them to put even just $0.50 per week into a piggy bank. In six months, show them how much money they have saved and talk to them about why it is important, and what they can do with that larger amount now.

Encourage Kids to Think Before They Buy

While it’s hard to get a 10-year-old excited about an RRSP, there are other ways to help them plan ahead. One is to encourage them to think about their purchases before they commit. They saw a toy on TV they have to have? Teach them about how advertisements are designed to make you want something. Ask them to wait a week. Do they still want it?

Involve Your Children in the Family Finances

Growing up, I always saw my mother balancing the budget. In fact, I cannot tell you how many times I walked into her office while she was going through endless bank and credit card statements to ensure things matched up. Seeing the time she would devote to this was proof enough about its importance for me. This is why it is so valuable to let your kids see and hear you discuss financial planning; let them be part of opening and paying bills or planning vacations. Explain why you pay certain things and discuss affordable choices.

Remember, you are the best example to your children about money. Don’t be afraid to share the ups and downs with them. Be patient with your kids, but don’t give up! The best thing you can do as a parent is to promote financial security and independence.

When it comes to saving money, there are a lot of little things you can do that add up to make a big difference! Here are 10 of my favourite money-saving tips:

Automatic Savings

Automatic savings are one of the most effective ways to save because you can't spend what you can't access! Instruct your employer to transfer a certain amount from your paycheck each pay period into an RRSP or savings account (or both) or set up automatic transfers in your banking account to coincide with your payday.

Consolidating Debt

Consolidating debt will result in a single monthly payment and lower interest costs! Many people don’t realize just how much money they are wasting on interest each month, especially if you have multiple loans or credit cards. Consolidating debt can help you gain control and maximize spend on the principal amounts to pay off loans faster.

Budget with CASH

Budget with cash if you have trouble with overspending or find it too easy to use your card. After your bills are paid, take out the remaining cash (spending money) and only use that. Once the cash is gone, you’re out of money until next payday! Having physical cash in hand can also help you think twice when making purchases.

Buy in bulk

Buying in bulk is a great way to save a bit here and a bit there when doing your regular grocery shop or purchasing other items. Know you’ll need more? Stock up at once for bulk savings, which will help you in the long run!

Before buying!

Before Buying there are two things you should always do. The first is to wait at least 24 hours and the second is to shop around! If you still want to buy something the next day, make sure you get the best price available!

Plan your meals

Plan Your Meals. Most of us don’t have time to make breakfast (let alone lunch!) before we fly out the door for work. But what if I told you that getting up an hour earlier could save you over $100 a week!? Just think about how much you spend going out for breakfast AND lunch each day? Groceries are a lot cheaper and you can even prep a few days worth of meals on Sunday while you get ready for the week.

Think in hours versus dollars

Think in Hours versus Dollars every time you are looking to make a purchase, especially large ones to help you understand the TIME value of money. A new $24 Blu-Ray = 1 hour of work. A brand-new mattress = 41.67 hours of work. Understanding the time that went into earning money for a purchase can help with reconsidering frivolous items, or encourage you to look for the best deal on necessary products.

Utility savings

Utility Savings can help you save each month! Don’t blast your A/C with all the doors in your house open, don’t pump the heat without sealing cracks and consider things like installing water-saving toilets and running cold-water wash cycles to save energy (and money!) every day.

Master DIY

Master DIY - While sometimes you can spend $120 to make a $20 item yourself, there are some things that do benefit from DIY, such installing dimmer switches, that can help save you money in the long run.

Save Windfalls and tax refunds

Save Windfalls and Tax Refunds for a rainy day. A good rule of thumb is to put 50% of bonuses, tax refunds or other windfalls into your savings account and put the rest against loans owing. While you might want to go on a shopping spree or plan a vacation, paying off your debt NOW will free you up in the future.

August Newsletter 2020

August 31, 2020 By Administrator

Welcome to the August issue of my monthly newsletter!

It's summertime and you know what that means! Vacation, vacation, vacation! If you have ever been interested in having your own vacation home (or even a second property), I have put together some great information below to get you started. For all of you out there looking to sell, I have provided some information on what you need to know before you list. If you are looking to buy, there is also a great article on house-hunting mistakes to avoid.

Thanks again for your continued support and introductions!
Have a great summer!

So, you are looking to purchase a second property! Congratulations! This is a great opportunity for you to expand your financial portfolio and ensure stability for the future. However, before you launch into this purchase there are a few things you should know, depending on which type of second property you are looking to purchase.

Second Property with Intention to Rent

Buying a property for the purpose of renting it out to someone else comes with different qualifying criteria and mortgage product options than traditional home purchases.

Before you look at purchasing a rental property, there are a few things to consider:

The minimum down payment required is 20% of the purchase price, and the funds must come from your own savings; you cannot use a gift from someone else.
Only a portion of the rental income can be used for the qualifying and determining how much of a mortgage you can afford to borrow. Some lenders will only allow you to use 50% of the income added to yours, while other lenders may allow up to 80% of the rental income while subtracting your expenses. This can have a much higher impact on how much you can afford.
Interest rates usually have a premium on them when the mortgage is for a rental property versus a mortgage for a home someone intends on living in. The premium can be anywhere from 0.10% to 0.20% on a regular 5-year fixed rate.

Rental income from the property can be used to debt service the mortgage application, but do bear in mind that some lenders will have a minimum liquid net worth requirement outside of the property. Also, if you do eventually want to sell this property, do note that it will be subject to capital gains tax. Your accountant will be able to help you with that aspect if you do decide to sell in the future

Vacation Property

While vacation properties are not always the best investment, they are popular options for people who want to get away from it all! If you're inclined to head down that road, buying a vacation property is essentially like purchasing a second home. The minimum down payment is the same at 5% and you have to go through the same processes as your first mortgage. You would also need to have the same insurance premiums as with a regular home.

If you are considering buying a unit within a hotel as a vacation spot (known as "fractional ownership"), it can be difficult to get financing.

It is important to note that if there is any mention of using your vacation home to provide rental income, you would need to put 20-25% down and it will be treated like an investment property.

Secondary Property

Most people are trained to stay out of debt and don't tend to consider using the equity in their home to buy an investment property, but they haven't realized the art of leveraging.

If you're using equity from your primary residence to buy an investment property, keep in mind that the interest you're using is tax deductible. Consider that you're buying an appreciating asset, and if you put a real estate portfolio and a stock portfolio side-by-side, they don't compare.

Who is a good candidate?

You might be surprised to learn that you don't need to make six figures to get in the game. Essentially, you just have to be someone who wants to be a little smarter with their down payment.

Before taking on a secondary property, it is important to remember that the minimum down payment is 5% of the purchase price - unless you are intending to rent, in which case it is 20% down.

When it comes to purchasing a secondary property, whether for investment or rental or vacation, it can be a great opportunity! However, do note that most lenders will limit the number of mortgages in a portfolio. If this is only property number two or three, you won't have any concerns, but as you expand your portfolio you may run into limits at five properties (at which point you would be considered a commercial file).

A mortgage broker can work with you and may even be able to find options to increase the number of investment properties should it become necessary.

So, you are ready to sell your home! Whether you are up or down-sizing, selling your home can feel like a large undertaking - but don’t worry! I have put together some things to know before you sell to make the process as smooth as possible.

Improve Your Curb Appeal:

When it comes to selling your home, first impressions matter. If a potential buyer pulls up to see overgrown weeds, clogged gutters or cracked concrete, they may have a negative first impression of the home, making it harder to impress them once they are inside. Attending to landscaping and any outdoor maintenance or repairs will go a long way in making your home more appealing. A pressure wash and new coat of exterior paint can also do wonders to give your home a facelift!

Get Rid of Clutter:

In addition to updating your homes curb appeal prior to sale, you also want to ensure that you are de-cluttering your space. Removing personalized photos, collectables, memorabilia and other knick-knacks will help open things up and allow potential buyers to envision their own belongings in those spaces. While major renovations are not necessary, a fresh coat of paint and managing any minor repairs will also help to ensure the best first impression!

Set a Reasonable Asking Price:

One of the most important aspects for the successful sale of your home is to price accordingly. Even though it can be difficult, when selling your home it is vital to avoid emotional decisions or anchoring your listing price to your home's previous value. In order to achieve the best asking price for your home, it is best to study the market and enlist the help of a real estate agent who can ensure you get the most value from the sale.

Choose the RIGHT Real Estate Professional:

As mentioned, a real estate agent can help you maximize the sale of your home by working to get you the best asking price and help you walk through the sales process. To ensure you have the best realtor on your team, there are two things you can do. The first is to ask your mortgage broker if they have any realtors they recommend as we work with realtors regularly. I would be happy to set up a call with you and discuss your options! Once you have a realtor in mind, it is best to conduct an interview to ensure they are the right fit for the job and that their interests align with yours.

Understand the Costs:

Before you get to the point of reviewing a purchase offer, you should have a reasonable understanding of potential gains (or losses) within your acceptable price range. To do this, you need to understand the costs of selling your home, which include:

Real estate sales commissions
Closing fees
Title charges
Transfer and recording charges
Additional settlement charges, if applicable
Debt obligations related to existing mortgages

Buying a home is one of the largest investments you will ever make! In order to make your home hunting experience the best it can be, there are a few key mistakes to avoid and be aware of before you start your journey:

Not Getting Pre-Approved:

One of the most important aspects of buying a home is the mortgage application and approval process. No matter what type of home you are looking for, you will need a mortgage. One of the biggest mistakes when it comes to the home-buying process is NOT getting pre-approved prior to starting your search. Getting pre-approved determines the actual home price you can afford as it requires submission and verification of your financial history to ensure the most accurate budget to fit your needs.

Not Setting or Following a Pre-Determined Budget:

Another mistake that people make when home-hunting is not setting, or following, a pre-determined budget. It can be tempting to start looking at the top of your budget, or even slightly over, but when you consider closing costs and the long-term financial responsibility of home ownership, it is best to avoid maxing yourself out. Getting pre-approved will help determine what you can afford, as well as making an appointment with your mortgage broker to determine your financial situation and the best options for you now, and in the future.

Not Hiring a Real Estate Agent:

Your mortgage broker and your real estate agent are two of the most important members of your homebuying A-Team! In today’s competitive real estate market, it can be very difficult to acquire property without the help of a realtor. One reason is that realtors can provide access to properties that never even make it to the MLS website! They can also gain access to information about homes that may come onto the market, before a listing is even signed. Most importantly though, a realtor understands the ins-and-outs of the home buying process and can tell you how to be successful in your endeavors to purchase a home by guiding you through the process from the first viewing to having your bid accepted.

Focusing Too Much on Aesthetics:

While we understand that bad interior design can really affect the perception of the home, you don't want to be blindsided by it. At the end of the day, aesthetics can always be updated! Giving up the perfect price or location or size for a few aesthetic details (such as paint color, flooring, or even outdated appliances or light fixtures) is one of the biggest mistakes people make! Most homes have incredible bones that only need some minor tweaks to become your perfect space.

Not Thinking Ahead:

What you want and need in a house today, could be very different from what you want and need in a house in the future. It is important to be able to look ahead - are you planning on having children? Are your parents getting older and in need of a retirement space? These are things that are good to take into consideration when buying a new home. Buying a home isn’t a permanent decision as you can always sell your home later on if it doesn’t work for you in the future, but it is almost always easier to plan ahead so you can grow with—and not out of—your home whenever possible.

If you are looking to purchase a new home, whether your first space or a step-up from your current living situation, I would be happy to help! Please don’t hesitate to reach out to set up a virtual appointment and discuss your mortgage options, pre-approvals and everything you need to know BEFORE you get started.

July Newsletter 2020

July 16, 2020 By Administrator

Welcome to the July issue of my monthly newsletter!

With Summer just around the corner, now is the right time to look ahead. This month I have some great updates for you, including some important information on changes to the high ratio mortgage guidelines and what that means for your borrowing power. I have also included some helpful information that your banker WON’T tell you, along with handy gardening tips to keep you busy during the summer months!

Thanks again for your continued support and introductions! Have a great month.

As a Canadian homebuyer or homeowner, your borrowing power is impacted by a few factors. Recent changes to the lending policies announced by CMHC, The Bank of Canada’s qualifying rate and your banks’ Prime Rate and mortgage stipulations are all things to consider when thinking about purchasing a home.

If you have less than 20% down, mortgage default insurance is required (known as a high ratio mortgage). This insurance policy protects lenders in the event you, the borrower, ever stop making payments and default on the mortgage loan. What you might not know is that mortgages in Canada are insured by one of three companies: CMHC, Sagen or Canada Guaranty. In addition, both the lender and the insurer need to approve your application once you have qualified. In order to qualify, all insured mortgages use the Bank of Canada’s Conventional 5 year fixed posted rate (also referred to as the Benchmark Rate), which has recently dropped to 4.94%! Once you’ve qualified, we can then start to shop the market for you to get the best financing options.

Recent changes announced by CMHC on June 4, 2020

While homeowners are not able to specify the mortgage insurer they prefer, it is important to know what is going on with these companies as every mortgage is covered by one of these three - depending on your bank - and their policies directly affect you as a homeowner. Recently, falling home prices and a stalled economy due to COVID-19 have resulted in some policy changes to insured mortgages, specifically from The Canada Mortgage and Housing Corporation (CMHC).

The recent changes announced by CMHC on June 4, 2020 relate specifically to new applications for homeowner insurance, such as new purchases, as well as renewals; refinancing is not included. So, what are these changes and how do they affect you or a potential homeowner you know?

Credit Score Increase:

Previously, the minimum credit score was 600 but has now been increased to a 680 mandatory credit score for at least one applicant. This is important as 80 points is a considerable jump when the score can only range from 300-900!

Down Payment Sources:

The source of down payment options have changed. Now, you can no longer utilize borrowed funds towards the down-payment. This includes funds from credit card, line of credit or a loan with repayment terms of any kind. Your down payment must come from your own savings.

GDS/TDS Ratio:

This is a ratio of “Gross Debt Service” / “Total Debt Service” and represents how much debt one can have in relation to income. The requirements for this have been decreased from prior potential of 39/44 to a more conservative 35/42. The result is reduced borrowing power in relation to existing debt and size of mortgage request to the allowed income.

Overall, these changes represent an approximate 9% - 13% reduction in what you may qualify for, which primarily impacts first-time homebuyers. This is a large reduction in borrowing power and may seem quite restricting in terms of new qualifying policies.

Thankfully, there is some good news! These changes have only been adopted by the CMHC. Canada's other mortgage insurers, Genworth Canada and Canada Guaranty have both announced they have no plans to make changes to their debt service ratio limits, minimum credit score and down payment requirements.

While there is still more information to come, and more changes may yet be made, it is a good idea for any potential homeowner to remain educated on the marketplace, especially those with upcoming renewals or plans to purchase.

If you are looking to renew your mortgage, or are a first-time home buyer wanting to make the most of your borrowing power, please contact me today. I would be happy to discuss these changes further and help you to find a mortgage provider that best suits your individual needs.

Did you know the biggest difference between getting your mortgage from a bank vs. a mortgage broker is that the bank only has access to their products, while I, your mortgage broker, have access to hundreds of different lending institutions and mortgage products to fit your unique needs?

Here are a few things to keep in mind while doing business with your bank – from opening chequing and savings accounts to personal loans and mortgages, I’ve got you covered!

Bank Fees Add Up

One of the biggest money makers for a bank is the fees; this is especially true with overdraft charges. It is important that you are always checking your accounts and loans to ensure that you are aware of all extra fees (and any interest rate changes), as well as staying on top of your bank account balance. Overdraft and banking fees can add up quickly! Fortunately, these fees can often be negotiated and reduced, especially when addressed early.

Penalties Hurt

Banks are a business and the mortgages and loans you sign with them are contracts. If your mortgage is with a traditional bank, they can often come with steep penalties when broken. When signing for a mortgage or loan, be sure to always read the contract thoroughly and make note of any penalties. Generally speaking, big banks typically have higher penalties to break a mortgage than alternative lenders. Most bank loans have terms of five years or more - but a lot can happen in that time! Even if you don’t think so, you just have to take a look at the current situation in the world to realize just how quickly things can change. While your bank may compete on rates, the high break penalty is built in. As your mortgage broker, I would be happy to help you locate the best mortgage contract with minimal penalties.

Your Credit Health

Most of you have received a letter from your bank, at least once, offering you a line of credit; or a letter from your credit card company urging you to increase your credit card limit, or maybe even sign up for their new card. What these letters typically leave out is how this will affect the health of your credit and where you currently stand. You might be paying extremely high-interest rates on all your financial products, not realizing that your credit score (and other credit-related factors) could be earning you a more reasonable rate for your mortgage, credit card or lines of credit! This is where I can help you to review your financial situation and ensure that you get the best mortgage - at the best rate - based on your current credit health.

You Should Shop Around

A bank only has access to their own mortgage rates. While most people will stay with the same bank for years, there can be a cost for that convenience. More often than not, it’s true that individuals who are renewing will be offered a higher rate than a new customer. Shopping around, especially at renewal time, is a great way to ensure that you are getting the best rate available to you. When you are a few months away from renewal, contact me and I would be happy to help you determine if you are getting the best mortgage before you renew.

When dealing with a bank for your mortgage, it can help to get third-party expert advice. As a mortgage broker, I have access to additional mortgage products beyond your current bank and access to even more options to best suit your needs. Contact me today to book your virtual appointment or download the My Mortgage Toolbox App!

With many of us spending more time at home this year, now is a great time to start that organic garden you’ve always wanted! As someone with friends who grow their own herbs and vegetables, it can seem pretty daunting at first - but if they can do it, so can you.

Location, Location, Location:

Ideally, an organic vegetable garden needs at least 6 to 8 hours of sunlight each day but don’t mind a little shade so they don’t overheat. A handy tip is to choose a spot near your house that you can see from inside - this will remind you to tend to it. Raised beds are another great option if you have limited space, or want a “cleaner” look to your yard.

Start Small:

It can be easy to want to plant a full yard right away, but starting small can help you to ensure future success by getting into the habit of gardening and learning about it, without becoming overwhelmed.

Choose The Right Plants:

Next you need to decide what plants you want to grow, and find the best strains to suit your environment. A few of the easiest vegetables to grow, regardless of skill level or experience, are: carrots, green beans, lettuce, cucumbers, spinach and tomatoes. If you are looking for more of a herb garden, beginners will want to stick to: chives, mint, parsley, basil and cilantro.

Garden Maintenance:

To keep your garden healthy, you will want to water it daily - especially on hot days. The best time is in the morning as there is less evaporation and it keeps your plants hydrated all day. Make sure to focus on the roots, and not the leafy stems! Your garden will also require some maintenance in terms of weeding. Mulch can help reduce the number of weeds present, but you will still want to check regularly and remove any unwanted plant matter. Keeping your plants healthy and hydrated will also prevent pests and allow your plants to flourish.

Harvest Time!

Did you know that generally the more you harvest, the more your plants will produce? Remember to always use scissors to cut produce off, versus pulling and ripping your plant. If you use them fresh, pick them right before you need them!

« Previous Page

The top 3 misconceptions about reverse mortgages are!

Let’s examine each misconception in more detail.