The World's Thinnest House - Opens in Poland

How much space does one Really need?

That's the question facing anyone who decides to live in the world's thinnest house, which opened its door recently in Warsaw, Poland.
The house is definitely not for claustrophobes: at its widest point, it's five feet across. And in places, it's only three feet wide.
The structure is squeezed into an alleyway between a pre-Second World War house and a modern apartment block, and it was originally intended as an art installation.


Still, according to architect Jakub Szczesny, the house has everything a tenant needs.
"It contains all necessary amenities such as a micro-kitchen, mini-bathroom, sleeping cubicle and tiny work area, all accessible via ladders," he said.
The key to reducing the fear of a tight space? Plenty of light.
And by using a translucent material for the roof, Szczesny has ensured that the house receives lots of natural light during the day.

The extreme thinness of the house may seem like a gimmick, but there's some serious thinking behind it.
"Research shows we are approaching a social disaster because too little living space is built," Szczesny said. "You don't need that much space to live in, so it is worth considering building smaller scaled, cheaper housing."

And there's another level of symbolism at work in the placement of the building.
Israeli writer Etgar Keret will be the first person to live in the house, which was named Keret House in his honour.
Many members of Keret's family died during the Holocaust under Nazi Germany's occupation of Poland. The house was built at the point where one of the largest Jewish ghettos in occupied Europe was created.

Retired Now? But your Mortgage Isn't Yet

Everyone looks forward to their retirement days. You have put in 30+ years in the workforce, now it is time for you to do what you want to do.  Travel, ski, golf, fish, take up a hobby, the list is endless.

Lets go back 20 years. You are working and making good money, maybe your partner is working, also making good money. You buy a house. make  monthly payments on the house  and after 10 years you refinance the house. Kids got to go to college, this is a way for them to go.  So now you are back owing the same amount for the mortgage as you did 10 years ago. You may even refinance again for your children's weddings.

Another 10 years have passed and now it is time to retire. Your mortgage is not paid off and you just realized your pension isn't going to be a big as you thought. Your mortgage payments are eating all that disposable income you were going to fill your days with.
Remember the travelling, skiing, golfing, hobbies, that endless list.

So what does one do?

The wrong way to go--- I have seen this and it is tragic to see people do this. What they do is charge up their credit cards, if those get filled up, they go get more credit cards or a line of credit secured to their house.  They live their life for a few years just like they planned to do it, except without the income they thought they would have. They are now living on CREDIT.

After a few years of juggling their credit card payments, mortgage and line of credit payments,  their world comes crashing down on them.  Sadly, their house goes into foreclosure, their credit cards get shut down and they have a pile of debt in their names.  Not a great way to live out your retirement.

The right way to go--  If you recognize at the start that things must change, you will have an easier and happier retirement life, and we all want that.  The good news is there are a few different ways to proceed to succeed.

1. Sell the family home and buy a smaller condo or home.  This way the equity you do have in your family home and the increase in land value from the time you bought your family home may allow you to pay off the mortgage and also pay off the smaller dwelling. Leaving you mortgage free, with disposable income for your retirement. Or at the worst giving you a smaller mortgage payment with some disposable income.

2. Look into the Canadian Home Income Plan.  (CHIP)  Which is a reverse mortgage. With the equity in your family home, you may be able to pay off your mortgage or most of it, leaving you in the family home and increasing your disposable income since the mortgage payment will be paid or made smaller.

3. See if one of your children is interested in buying a house with a in-law suite.  With the sale of your family home you and your child could share the mortgage payment.  Or you could give them a portion of the proceeds of the sale of the family home, to pay for your in-law suite, which in turn will be the down payment your children will need to buy the home.

4.  If your family home is big enough you could divide it into 2 suites. Living in one and renting the other one out.  This will free up some of the disposable income that you want.

Whichever way you proceed make sure that you do make the decisions before you are in financial trouble.  Because, once you are not making the payments on the mortgage, credit cards, or line of credit,  your options because increasingly less.

If you need more information, give me a call or email me. You can check out my website by
Clicking Here

 

Angela Kroemer, AMP

Mortgage Professional

TMG The Mortgage Group Canada Inc.

TMG Sharie Marie Mortgage Team

Local: 1.250.650.4182

TFP: 1.888.679.0190

Fax: 1.888.679.0192

akroemer@mortgagegroup.com

www.KROEMERmortgages.com

Facebook Pages

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#1 Tip for Consumers Looking to Get a Mortgage

Work with an AMP. 

Accredited Mortgage Professionals

 CAAMP (Canadian Association of Accredited Mortgage Professionals)  requires that all members with the AMP designation receive ongoing education on industry best practices, government rules and changes, and etc. to help you navigate the mortgage process with integrity, responsibility and ease.

 

How do I know if my mortgage person is an AMP?

 

Usually they have AMP beside their name.

You can ask them.

You can go on CAAMP's website and search their name.

 

http://www.naylornetwork.com/caampdirectory/SearchResult.asp?Lang=&con=angela+kroemer&mem=AMP

 

By clicking on the link above you will find my name, my phone number and my website.

 

Above my name you will find a header search by person, then type the person's name and scroll to AMP.

 

Similarly,  you can find out if  your mortgage person is a member of CAAMP, or if they are a AMP Residential Specialist or an AMP Commercial Specialist.

 

CAAMP also has a wealth of information for you, the mortgage consumer.

http://mortgageconsumer.org/index.php

 

For More Information On Mortgages, Click here.

 

 

Angela Kroemer, AMP

Mortgage Professional

TMG The Mortgage Group Canada Inc.

TMG Sharie Marie Mortgage Team

Local: 1.250.650.4182

TFP: 1.888.679.0190

Fax: 1.888.679.0192

akroemer@mortgagegroup.com

www.KROEMERmortgages.com

Facebook Pages

https://www.facebook.com/#!/akroemer

https://www.facebook.com/#!/cvmortgages

https://www.facebook.com/#!/campbellriverbc

 

 

 

TMG- What We Know About You – Mortgage Consumers

The 2012 Mortgage Consumer Survey prepared by Canada Mortgage and Housing Corporation (CMHC) tells those in the mortgage industry a lot about you, the consumer – your buying habits, where you go to look for information, the kind of information you look for, etc.

The online survey was completed over February and March of 2012 by more than 3500 mortgage consumers who had completed a mortgage transaction in the previous 12 months. Here are few highlights of that survey:

Online Activity

• When researching mortgage information, 71% of consumers went online; this is up from 65% in 2011.
• Facebook was the most popular social media network used to gather information, especially among first time home buyers.
• The two most actively searched items were interest rates at 86% and mortgage options at 73%.
• And not surprisingly, 38% of 18 to 24-year-olds used mobile mortgage apps.

Using Professionals

• Consumers are turning more to mortgage professionals to help them with their mortgage decisions.
• Consumers are asking a lot more questions about mortgages – 71% asked about differences between mortgage products; 67% wanted information about mortgage loan insurance; and 67% asked about penalty clauses.
• Consumers like referrals and most referrals come from a family member or a financial planner.

The Mortgage Process

• Before making a decision about a mortgage, consumers spend about five weeks doing research; first time home buyers spend about eight weeks.
• Consumers are now more prepared when meeting with their mortgage professional and come armed with a list of questions and the necessary documentation.
• Eighty per cent of consumers felt confident they made the best decision with their mortgage product.

Mortgage Free

• Thirty-one per cent of mortgage holders made lump-sum payments or increased their regular payments to pay off their mortgage sooner.
• Nearly half of all buyers set their monthly payment higher than the minimum to pay off their mortgage sooner.

The survey findings are positive indicators that consumers are increasing their knowledge about financial matters. Four in ten home buyers went online and did a financial self-assessment. And a whopping 80% felt they had a good understanding about how much they could afford and what options were available to them.

Consumers who educate themselves about the financial options available will learn how to make consistent, informed financial decisions and that will help them to achieve their goals. This survey shows that Canadian consumers are on the right track.

The survey also makes clear that mortgage professionals are in a unique position to help educate consumers about their mortgage options and ways to pay off that mortgage sooner.

Thanks to CMHC for conducting the survey and TMG for putting results in a blog.

CMHC
http://blogger.mortgagegroup.com/2012/05/what-we-know-about-you-mortgage.html






Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team
1.250.650.4182
akroemer@mortgagegroup.com
www.KroemerMortgages.com
Your Mobile Mortgage Professional in The Comox Valley