Capital Gains Tax And Your Principal Residence

House Values Rising

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… Read More

Buying Your First Condo

Condo Buildings

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”… Read More

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… Read More

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… Read More