That confusion comes down to two different measures: market price and appraised value. While they sound similar, they serve different purposes and can vary widely. Understanding the difference…
Read more How much is your home really worth? – MoneySense1. Look for designated appraisers (AIC Members) The first and most important factor is credentials. Ensure the firm’s appraisers are designated members of the Appraisal Institute of Canada…
Read more How to choose the best appraisal firm – MoneySenseFixing a past tax mistake If you discover a mistake, or you want to come forward with an omission, there is a path to do so with the…
Read more What happens if you sell real estate to family for a dollar? – MoneySenseBut picking a fixed mortgage rate can be problematic if you decide to sell your house and are forced to break your mortgage contract in the middle of…
Read more What is porting a mortgage in Canada—and when should you do it? – MoneySenseFredericton: Home prices poised to rise with rate cuts Fredericton marks the third and final city where the additional required income to purchase a home remains below $1,000.…
Read more How much income do I need to qualify for a mortgage in Canada? – MoneySenseWhen you inherit real estate, any accumulated tax, if applicable, is generally paid by the estate of the deceased. This is because when a taxpayer dies, they are…
Read more How to calculate the adjusted cost base of inherited property – MoneySenseWhat are your options if you find yourself in this situation? Let’s look at the intricacies of buying a pre-construction home in Canada, why some buyers are having…
Read more Buying pre-construction: What if your home is worth less than you paid? – 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 – MoneySense
