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Your RRSP Can Finance Your Mortgage By Rich Bates CA know that you your own mortgage info your soil directed mont savings plan Canada insist II musl bo firsl mortgogo parly would chargo and the gage hao bo insured You noid on largo enough A Pictoria Quiz A pioneer of women right movement to do the needed One advantage is thai with your you can got a higher return tlio man term deposits or guaranteed certificates there is no risk it you have any faith In your own financial acumen For you will satisfaction putting your to work without the usual requirement that you cosh it and pay tax on proceeds first Another benefit Interest paid Into your tax deferred As with other RRSP Investments you pay no tan until ultimately into monthly Income On downside there is expense of arranging a now mort gage rather than mply with same londor Thtse costs include legal fees often and an nistrafion You must also have a self reeled though Is no added if you already havo one pense insuring mortgage Because of this cost a mortgage prohibitively However it mortgage that lor more thin per cent the value of your houso in which case it bo insured you are pay ng insurance premium You should not regard RRSP funded mortgage as either a boon or a boondoggle II can bo either depending on your From your own it be cheaper to gel a mortgage from your RRSPor elsewhere From yourRRSPs viewpoint would your mortgage oiler bettor than other low risk The decdng actor should bo whether it makes financial sense your chartered accountant do the on lor you Weal nTV a Your acrossCanada or Money in the Bank on your community channel Monoyeare It general interest fin Ice by Canada charioted accountant Rich Bate Is with the Unlventlty Sunspace Designs For Your Home thinking of adding a Whaldailgns should I A special sun spices are n common use today tho space green and moro popular sun Solar collection space Used principally as a source heat weather lection spaces designed to gat from the sun during day and transfer it to the rest building by fans and duels Solar collections spaces have no auxiliary and are nsulated build ng During Iho can very widely daynnd n ghl Dos pile Ms evening con to reduced energy bills Greenhouses summer bounty In Greenhouses designed to plants over an extended season Auxiliary heating rs required to mainta temperatures whon fie solar is available In ion must bo controlled to d mo p Greenhouses often consume than loci sun and therefore can not liabil However the isof grow plants and vegetables can outweigh the energy costs Sunrooms living space to be lived in Iho year roupd especially during the w On sunny days design can do heal to the main building but at or on heavily overcast days auxil iflry heal is required to maintain temper Like all attached sun rooms should bo oriented within 30 degrees south for optimum per They should have a solid insulated roof wilh an overhang to reduce overheating In the summer and heal loss n the winter Sky lights can be added allow light Thoso typically have a large south wall o vortical double glazed glass and solid well east and west walls and wall surfaces should be absorbing masonry Windows should floor and ceiling levels improve cross ventilation and roduco tho summer Before bog nnmg construction any type check locil author ties for rog For more Information write to Ihe Renewable Energy Branch of Energy MlneandReiources Canada Ottawa K1A Understanding Your House by P JONES In coming to grips with your house as you lace renovation pro or tho aging the structure several questions will Ontario Ministry of Housing has produced two new booklets lips and diagrams assist in Understanding Your House dos the si of wood frame and the typical problems related Tips offered on how your homo from foundation roof for cracks crumbling spa ling wood rot sagging floors and how to correct those probloms Tho concluding section explains how adding a skylight or and removing or adding Interior pari lions projects related lo structure your The Water House dos how inspect your rool oaves lashings attic walls and basement damage Tips offered on how to Idontlly causes and make corrections In keeping moisture out reducing condensation in the structure and dealing with wator emergencies copies thoso booklets lable by writing to Hous Conservation Unit Ministry Housing Bay Street 2nd Moor Toronto Ontario mention that you read about these booklets In HOMES