On Sunday, February 4, 2024, Finance Minister Chrystia Freeland announced the federal government’s intention to extend the Prohibition on the Purchase of Residential Property by Non-Canadians Act (foreign buyer ban), which was first introduced in 2023, by two years to January 2027. The Canadian Real Estate Association (CREA) believes the federal government’s intention to extend ...
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Millions of Canadian homeowners are facing mortgage renewals in the coming years, with many feeling stressed as they prepare for higher payments amid persistently elevated interest rates. An estimated 2.2 million mortgages have either come up for renewal in 2024 or are set to renew in the coming year, ...
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All homeowners will need to declare the status of their property as part of an effort to crack down on real estate investors and improve housing Letting a home sit empty in the middle of a housing crisis will cost you, with the introduction of Toronto’s vacant home tax back ...
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Don’t forget, a residential property flipping rule applies to flipped residential property dispositions that occur after January 1, 2023. The rule deems profits from a “flipped residential property” as business income, targeting individuals that misclassify these profits as a capital gain to avoid taxes. It’s important to understand this rule ...
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Buying a multi-unit, meaning a building with five or more units, can be a great opportunity for investing in real estate. But before diving in, it’s important to know everything that’s involved with such a purchase, and the requirements that come with it. Here’s my advice if you’re interested in ...
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Capitalization rates, more commonly called cap rates, are one of the first measures investors encounter when evaluating commercial or income-producing real estate. They are frequently used in marketing materials, investment discussions and valuation conversations because they provide a relatively simple way to compare a property’s operating income with its purchase ...
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Environmental concerns can arise in almost any type of real estate transaction. They are not limited to old industrial sites or obviously contaminated properties. A residential buyer may encounter radon, mould, older insulation, a buried fuel tank or questionable plumbing. A commercial purchaser may need to consider historical land uses, ...
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Buying commercial real estate can be one of the most significant financial and operational decisions a business owner or investor makes. Unlike purchasing a conventional residential property, a commercial acquisition usually needs to satisfy several objectives at the same time. The property needs to make financial sense, support its intended ...
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And how much money are you going to get? Business owners spend years building companies. They invest capital, work long hours, develop customer relationships, hire employees, establish supplier networks, acquire equipment, build reputations and, in many cases, purchase commercial or industrial real estate to support the operation. Yet one of ...
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Creating a second suite can be an effective way to increase rental income, improve property cash flow, accommodate multi-generational living or make more efficient use of an existing home. For an investor, the opportunity can be particularly attractive because the additional unit may increase revenue without requiring the acquisition of ...
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