Sometimes, emotions are the motivation for buying a vacation property. I like to evaluate a property purchase from a financial point of view as well—and here’s how. The…
Read more Is a vacation home a good investment? – MoneySenseIt sounds like you sold or are planning to sell a property in the U.S., Bob. To cut to the chase, selling costs, like a realtor commission, would…
Read more When are costs for a U.S. property tax-deductible in Canada? – MoneySenseIt sounds like you are aware that you can carry back capital losses, Ramesh. If you have a net capital loss on your 2023 tax return, you can…
Read more How to carry back a capital loss for a tax refund – MoneySense“Potential buyers may not have the cash they require to pay for an asset like a second home in part or in full,” says Maxine Crawford, a mortgage…
Read more How to use equity to buy a second home – MoneySenseHow you intend to use the property—i.e., for personal use (such as a second home or cottage) or as a rental or investment property. Whether or not the…
Read more Second mortgages in Canada: What are the rules? – MoneySensePrimary residences vs. secondary properties The tax treatment of real estate in Canada depends on its use. The home you live in—your primary residence—is normally exempt from capital…
Read more The tax implications of buying a second home in Canada – MoneySenseThere’s no one-size-fits-all solution. “Planning has a lot of moving pieces, and it’s very important to get it right, and it’s very easy to get wrong,” says Peter…
Read more Family legacy: How to pass along the family cottage—and 3 things to avoid – MoneySenseSo, how much of a down payment do you need for a second home? That depends on a few factors, including whether or not you intend to live…
Read more Down payment for a second home in Canada: How much do you need? – MoneySense
