Tax-free profit on the sale of your principal residence is alluring, but it can be elusive. Under the federal Income Tax Act, property owners are entitled to tax-free profit on the sale of their principal residence, provided they follow the Canada Revenue Agency (CRA) guidelines. Capital gain is the net difference between the cost of […]
Archives for 2017
Buying Your First Condo
With more than 500,000 condominium units in Canada and one in four new homes built as condominiums, Canadian buyers need basic condominium buying skills to protect them in any market. Too often, condominium buyers fall prey to the “do nothing, just play” sales pitches inherent in lifestyle campaigns presented by condominium developers. Although “condo living” […]
How to Make Long-Term Real Estate Decisions
No longer is there an automatic last move for boomers—that is, being moved into a HOME. No longer is there a “last stage” of adult life that dictates an end to independence and to living in a home you love. Aging in place, or staying in your own home as you age, even if you […]
Buying Frenzy Ahead Of New Mortgage Rules
The divergent pattern between freehold and condominium properties that began in the spring has persisted since then and seems likely to continue into next year. Accordingly, I will continue to report price trends separately for these two categories, as they tell two completely different stories about the market. The freehold market (mainly detached homes) underwent […]
Selling Your Home Over The Holidays? Don’t Be A Curb Appeal Scrooge
If your house is currently for sale or if you’re considering listing it, you may be wondering whether you should bother at all with holiday decorations this year. In a word: yes. But there’s more to it than that. There’s a long way between Scrooge and The Griswolds. It’s hard to argue with the fact […]
Is Now The Right Time For A Kitchen Renovation?
It’s totally normal for those kitchen renovation pangs to go crazy during the holidays. If you’ve spent time at a friend or family member’s house that has a freshly updated kitchen, you may be feeling a little envious. If you hosted over the holidays, your kitchen’s shortcomings may be top of mind. But is this […]
