There are several factors to consider when deciding whether to own a property under a personal name or a corporation name. Here are some benefits of each:Benefits of owning a property under personal name:Simplicity: Owning a property under a personal name is a simpler process than setting up a corporation, which involves more legal and administrative work.Tax benefits: If you own a property under your...
Zoning laws and regulations are laws that govern the use of land within a certain area. They specify how a particular piece of land can be used, what kind of buildings can be constructed, how tall they can be, and where they can be located. Zoning laws are put in place to ensure that land use is organized and planned in a way that benefits the community as a whole, and to prevent any negative effects of...
Designing a home is a highly personal and subjective process, and the latest trends can vary depending on the region and culture. However, there are some general principles and current trends that you may find helpful when designing your home:Open Floor Plans - Open floor plans that create a spacious, light-filled environment are still popular. This design allows for natural light to penetrate more of the...
Investing in your primary residence can be a wise choice since any profits made from the sale of the property are tax-free. This is one of the best ways to earn money in real estate without having to share it with the government. If you live in a growing city with a constant influx of people, companies, and jobs, your home will most likely appreciate in value naturally. However, if you want to increase...
Househacking is a popular way to earn passive income through real estate, and it involves renting out a part of your living space. This approach is ideal for those who own a home and want to offset expenses or pay down their mortgage. The good news is that you can househack regardless of your housing type, whether it's a house, condo, or any other type of property. Here are some options to consider:Rent...
The Canadian Federal government has introduced the Underused Housing Tax Act (UHT) to prevent foreign buyers from purchasing residential properties and leaving them vacant. The act came into effect on January 1, 2022, and the filing requirements and forms were recently released by the Canada Revenue Agency (CRA). Note that this is not the same as the Toronto Vacant Home Tax. It is important to note that...
Deciding between a fixed or variable mortgage rate is an important consideration when buying real estate. Both options have their pros and cons, and the choice ultimately depends on your personal financial situation and risk tolerance.A fixed mortgage rate offers stability and certainty, as your interest rate and mortgage payment remain the same throughout the term of the mortgage, regardless of any...
As a rule of thumb for selecting a condo for investment, we can consider the following criteria.Middle floors are the best value. If the floor is too low, it will affect its resale value a bit. If too high, the original floor premium will make the original price a bit more expensiveClose to transit or university. Either one of these criteria will create demand for condos. Express 2 is a few mins to TTC...
If you consider remaining inventory as the suites that no one wants, think again. Developers do not always make all the units within a project available at the same time; instead, they may release new suites weekly or monthly after an initial launch. As for pricing, many buyers assume that the best prices are only available during a project's initial release, but this is not always true. While pricing...
Typically, developers do not directly sell pre-construction properties to consumers. Instead, they rely on VIP Platinum brokerages to handle the marketing and sales efforts. Buying a pre-construction property is a completely different process from purchasing a regular home on MLS. Here are the steps involved in buying a pre-construction property:Step 1 - Work with a Trusted Platinum BrokerageTo secure a...
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