Urban “Off the Grid”: An Introduction

Diane Buchanan • June 2, 2016

You’re on “the grid”

Every few weeks, we open our mailboxes (or our email inboxes) with bated breath. Inevitably, we find another heap of utility bills, waiting to separate us from our hard earned dollars. This is not unusual; this is simply part of life for most Canadians. But, what if it didn’t have to sting so much? What if this cycle didn’t have to replay itself, in it’s ugly fullness, month after month? What if we could cut down on our bills while being kind to mother nature?

For a small (but growing) number of hard working Canadians, living utility bill free has become a reality. How, you ask? These folks have left the power grid behind. And no… no one is suggesting you move to a place like this (unless of course that is what you want to do). 

Now, let’s be frank, here: many of these “off the grid’ers” live in rural areas, often times to the point of total and complete seclusion. But the fact remains, most of us live in urban areas. We’re involved in our communities; we have families and responsibilities. So, while it may not be possible for the majority of us to live entirely off the grid, it’s certainly worthwhile to ask the question of, “How can we use the self-sustaining technology that’s been developed to lessen our footprint and gain a measure of independence for ourselves?”

This series will focus on just that; we’ll answer the question of, “What does it look like to be an urbanite ‘off the grid’ adherent?”But, before we get too deep into this, let’s get some basics out of the way:

WHAT is “the grid”?

You’ll hear the term “the grid” often within this series; but don’t be afraid. Each time, we’ll be referring to the power grid, or the power distribution grid. Essentially, it’s the way that power travels from it’s source to your home.

Most of us use this power every day, for various tasks such as: connecting our devices and appliances to power outlets, cooling our homes in the spring and summer, heating our homes in the fall and winter, cooking our food, refrigerating much of our food, etc. And sadly, we, as a society, have become largely dependent on this technology; so much that, in the event of a power outage many neighbourhoods become completely crippled. The city of Toronto suffered a major ice storm in late December of 2013, and countless folks had to leave their homes because they weren’t set up to live, even a few days, without grid powered electricity.

WHY going “off the grid” is gaining traction…

Why is going off the grid gaining traction with an increasing number of people? There seems to be three main reasons. Firstly, producing your own power takes away the need to buy it from others, thus saving you money. It’s just that simple. Secondly, for many individuals, concern for the earth and the desire to cut down on their environmental footprint takes precedence. And thirdly, many people simply don’t like the idea of remaining reliant on others for the necessities of life.

This is larger than fear mongering, and it’s wider than the few individuals who live in the hills outside of town. As the population grows, and as the threat of natural and man-made disasters creep closer to home, many individuals are asking, “What would I do in the event that [fill in the blank] happens?”. And this question often leads to a deepening interest in all things self-sufficiency.

WHO can do it?

If you resonate with any or all of the previous rationales behind going “off the grid”, you might be a candidate to take the next step.

Which leads us into our final “W” of this post:

WHERE: Off the grid living in an urban setting…

While “off the grid” style living has been popularized by people who generally occupy the nooks and crannies of this world, an increasing number of city and suburban folk are taking up the challenge. The Ingredients needed are straightforward: willing individuals, a base of knowledge (because remember, knowledge is power!), and some help to get it all started.

Urban “off the grid” living is honourable and  achievable (at least to a certain degree). It just takes a little creativity and a willingness to look at life from a slightly different angle. 

DIANE BUCHANAN
 Mortgage Broker

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How Do You Port a Mortgage?

By Diane Buchanan • November 19, 2025
Porting your mortgage is when you transfer the remainder of your current mortgage term, outstanding principal balance, and interest rate to a new property if you’re selling your existing home and buying a new one. Now, despite what some big banks would lead you to believe, porting your mortgage is not an easy process. It’s not a magic process that guarantees you will qualify to purchase a new property using the mortgage you had on a previous property. In addition to re-qualifying for the mortgage you already have, the lender will also assess the property you’re looking to purchase. Many moving parts come into play. You’re more likely to have significant setbacks throughout the process than you are to execute a flawless port. Here are some of the reasons: You may not qualify for the mortgage Let’s say you’re moving to a new city to take a new job. If you’re relying on porting your mortgage to buy a new property, you’ll have to substantiate your new income. If you’re on probation or changed professions, there’s a chance the lender will decline your application. Porting a mortgage is a lot like qualifying for a new mortgage, just with more conditions. The property you are buying has to be approved So let’s say that your income isn’t an issue and that you qualify for the mortgage. The subject property you want to purchase has to be approved as well. Just because the lender accepted your last property as collateral for the mortgage doesn’t mean the lender will accept the new property. The lender will require an appraisal and scrutinize the condition of the property you’re looking to buy. Property values are rarely the same Chances are, if you’re selling a property and buying a new one, there’ll be some price difference. When looking to port a mortgage, if the new property’s value is higher than your previous property, requiring a higher mortgage amount, you’ll most likely have to take a blended rate on the new money, which could increase your payment. If the property value is considerably less, you might incur a penalty to reduce the total mortgage amount. You still need a downpayment Porting a mortgage isn’t just a simple case of swapping one property for another while keeping the same mortgage. You’re still required to come up with a downpayment on the new property. You’ll most likely have to pay a penalty Most lenders will charge the total discharge penalty when you sell your property and take it from the sale proceeds. The penalty is then refunded when you execute the port and purchase the new property. So if you are relying on the proceeds of sale to come up with your downpayment, you might have to make other arrangements. Timelines rarely work out When assessing the housing market, It’s usually a buyer’s market or a seller’s market, not both at the same time. So although you may be able to sell your property overnight, you might not be able to find a suitable property to buy. Alternatively, you may be able to find many suitable properties to purchase while your house sits on the market with no showings. And, chances are, when you end up selling your property and find a new property to buy, the closing dates rarely match up perfectly. Different lenders have different port periods Understanding that different lenders have different port periods is where the fine print in the mortgage documents comes into play. Did you know that depending on the lender, the time you have to port your mortgage can range from one day to six months? So if it’s one day, your lawyer will have to close both the sale of your property and the purchase of your new property on the same day, or the port won’t work. Or, with a more extended port period, you run the risk of selling your house with the intention of porting the mortgage, only to not be able to find a suitable property to buy. So while the idea of porting your mortgage can seem like a good idea, and it might even make sense if you have a low rate that you want to carry over to a property of similar value, it’s always a good idea to get professional mortgage advice and look at all your options. While porting your mortgage is a nice feature to have because it provides you with options, please understand that it is not a guarantee that you’ll be able to swap out properties and keep making the same payments. There’s a lot to know. If you’re looking to sell your existing property and buy a new one, please connect anytime. It would be a pleasure to walk you through the process and help you consider all your options, including a port if that makes the most sense!

Everything You Should Know Before Buying a Home

By Diane Buchanan • November 12, 2025
Thinking About Buying a Home? Here’s What to Know Before You Start Whether you're buying your very first home or preparing for your next move, the process can feel overwhelming—especially with so many unknowns. But it doesn’t have to be. With the right guidance and preparation, you can approach your home purchase with clarity and confidence. This article will walk you through a high-level overview of what lenders look for and what you’ll need to consider in the early stages of buying a home. Once you’re ready to move forward with a pre-approval, we’ll dive into the details together. 1. Are You Credit-Ready? One of the first things a lender will evaluate is your credit history. Your credit profile helps determine your risk level—and whether you're likely to repay your mortgage as agreed. To be considered “established,” you’ll need: At least two active credit accounts (like credit cards, loans, or lines of credit) Each with a minimum limit of $2,500 Reporting for at least two years Just as important: your repayment history. Make all your payments on time, every time. A missed payment won’t usually impact your credit unless you’re 30 days or more past due—but even one slip can lower your score. 2. Is Your Income Reliable? Lenders are trusting you with hundreds of thousands of dollars, so they want to be confident that your income is stable enough to support regular mortgage payments. Salaried employees in permanent positions generally have the easiest time qualifying. If you’re self-employed, or your income includes commission, overtime, or bonuses, expect to provide at least two years’ worth of income documentation. The more predictable your income, the easier it is to qualify. 3. What’s Your Down Payment Plan? Every mortgage requires some amount of money upfront. In Canada, the minimum down payment is: 5% on the first $500,000 of the purchase price 10% on the portion above $500,000 20% for homes over $1 million You’ll also need to show proof of at least 1.5% of the purchase price for closing costs (think legal fees, appraisals, and taxes). The best source of a down payment is your own savings, supported by a 90-day history in your bank account. But gifted funds from immediate family and proceeds from a property sale are also acceptable. 4. How Much Can You Actually Afford? There’s a big difference between what you feel you can afford and what you can prove you can afford. Lenders base your approval on verifiable documentation—not assumptions. Your approval amount depends on a variety of factors, including: Income and employment history Existing debts Credit score Down payment amount Property taxes and heating costs for the home All of these factors are used to calculate your debt service ratios—a key indicator of whether your mortgage is affordable. Start Early, Plan Smart Even if you’re months (or more) away from buying, the best time to start planning is now. When you work with an independent mortgage professional, you get access to expert advice at no cost to you. We can: Review your credit profile Help you understand how lenders view your income Guide your down payment planning Determine how much you can qualify to borrow Build a roadmap if your finances need some fine-tuning If you're ready to start mapping out your home buying plan or want to know where you stand today, let’s talk. It would be a pleasure to help you get mortgage-ready.