When it's time to sell your home, unpermitted work can be a big problem. Unpermitted work is any work done without a permit to ensure that it's done to regulation standards. Permits ensure the safety of people who live in and utilize a renovated space, and without them, there's no guarantee for the quality and safety of the home. Therefore, when it comes time to sell, a house with unpermitted work can become a problem that makes selling a home difficult—it may even force homeowners to sell their homes for a significantly reduced price. Knowing what to do about unpermitted work can help homeowners avoid problems when the time comes to sell the property. Here is everything you need to now about unpermitted work and what to do when a house has unpermitted…
Found 5 blog entries for July 2018.
While both a primary residence and a vacation home are types of real estate properties, there are some considerable difference between the two that can lead to differences in how you approach the sale of the two when the time comes. Even though they are both forms of real estate, they need to be treated differently within the market since the market for both can be drastically different. From GST on real estate and the Canadian capital gains tax to HST on property taxes, there are a lot of different facets to buying and selling property. When selling a rental property or vacation home, keep these things in mind.
Difference in Taxes
When you sell a primary residence, you are not subject to capital gains due to a principle residence tax…
Some may be looking to buy their first home and not know about the common requirements and initial challenges they may face. Canadian residents may need prepare themselves beforehand, learning how to best position themselves to have a seller accept their offer and move toward closing on a home. What do new potential homeowners need to know?
Understand more about common home buying processes and challenges faced by Canadian buyers today.
Your Credit Score and the Canadian Home Mortgage Process
Most buyers are not paying for a home in cash and will have to seek a home mortgage loan from a lender. It is important to know your credit score as this is a major factor in getting approved for a loan and getting better rates. One's credit score and…
Most home buyers who decide to purchase a home will get a property inspection to ensure that the house meets their needs. However, home inspections can be costly (around $450), so recognizing the signs of trouble without the help of an inspection can help a home buyer determine whether or not it's worth proceeding with an offer.
Signs of Foundation Trouble
Foundation troubles are rare, but when they do occur, repairs can cost thousands. If you're wondering how to tell if a house has foundation problems, use the following list. Some of the most clear signs of foundation problems include:
- Doors or windows that are jammed open or closed.
- Stair stepping cracks in the foundation.
- Large, wide cracks in the walls of the house,
Much has been said and written about the Millennial Generation, and for good reason. As this group moves through their 20's and 30's, they are now the largest population segment on the planet. Young adult homeownership has been quite the divisive topic over the past few years. While opinions will vary widely on this group's ability to purchase real estate, we decided to see just how long young adults believe it will take to hit this milestone to better understand their perception of the situation.
It should be noted that this survey captures the lower end of the age range for Millennials and the higher end of the age range for Gen Z. While generations are an easy way to categorize age ranges, opinions from this group's survey will likely differ…