The Globe and Mail
Mary Gooderham
Published March 13, 2021
Natalia Duryagina/iStockPhoto / Getty Images
The work and lifestyle changes brought on by the pandemic have many Canadian homeowners thinking about buying second properties – whether it’s a cottage, a pied-à-terre or helping adult children buy a home in a hot housing market.
Record-low interest rates are driving the search for these places, and some Canadians are using the considerable equity built up in their principal residences to seal the deal.
“The goal is to unlock the equity in your home,” says Elan Weintraub, co-founder and mortgage broker at Mortgageoutlet.ca.