Real Estate News: The Latest, Top Articles in Ontario Canada

Question: Is the Garage Included in Square Footage? Answer: No, a garage is not included in the main square footage. This figure represents the Gross Living Area (GLA)—the finished, heated space above ground. A garage is considered a non-living area, and its dimensions are typically noted separately in a property listing. Home Measurement and Your […]

Question: Can You Deduct Real Estate Commissions From Capital Gains? Answer: Yes, you can deduct real estate commissions from capital gains. While not a standard tax deduction, real estate commissions are a selling expense. You can subtract this cost from the property’s sale price, which directly reduces your total capital gain and the amount of […]

Question: What Are the Tax Implications of Selling a House Below Market Value in Canada? Answer: Tax implications of selling a house below market value in Canada can be significant. When selling to a non-arm’s length party (like family), the seller is deemed to have sold at Fair Market Value (FMV). Capital gains are calculated […]

Question: Are Realtor Fees Tax Deductible for Rental Property? Answer: Whether or not realtor fees are tax deductible for a rental property depends on several factors. Fees for finding a tenant are deductible as an operating expense. Commissions from buying are added to the property’s cost basis and depreciated. Fees from selling are used to […]

Question: How Do I Avoid Capital Gains Tax on Rental Property in Canada? Answer: Complete avoidance of Capital Gains Tax is rare. The main strategy is the Principal Residence Exemption (PRE). If you lived in the property, you can designate it as your principal residence for those years, sheltering a portion of the gain. Otherwise, […]

Question: How Long Do You Have to Live in Your Primary Residence to Avoid Capital Gains in Canada? Answer: In Canada, there is no specific minimum time requirement to live in your primary residence to avoid capital gains tax. To qualify for the Principal Residence Exemption and avoid capital gains, the property must be “ordinarily […]

Question: Should I Buy a House Close to a Highway? Answer: Buying a house close to a highway is a trade-off. Proximity offers excellent commuter convenience and potential affordability. However, you must weigh the significant drawbacks of constant traffic noise, air quality concerns, and a possible negative impact on the property’s long-term resale value. Deciding […]

How Nearby Noise Affects Your Home’s Value You find a home with the perfect layout, a beautiful kitchen, and a great backyard. The location seems ideal, close to amenities and with an easy commute. Before you make an offer, you must consider an invisible factor that can significantly alter your quality of life and your […]

Question: Does Gentrification Help or Harm Neighbourhoods? Answer: Gentrification is complex; it can revitalize a neighbourhood with new investment and increased property values. However, it also drives up rents and property taxes, which can displace long-term, lower-income residents and alter the community’s established character. The Impact of Neighbourhood Change A neighbourhood changes when new, often […]

Question: What Are the Signs of Neighborhood Gentrification? Answer: The signs of neighbourhood gentrification include rapidly rising property values and rents, an increase in home renovations, and new condo developments. You will also notice a shift in local businesses, with trendy cafes and boutiques replacing long-standing shops, reflecting a change in the area’s demographics. Identifying […]

Question: What Are Three Negative Effects of Gentrification? Answer: Three major negative effects of gentrification are the displacement of long-term, lower-income residents due to rising rents, the loss of a neighbourhood’s unique cultural identity and local businesses, and increased financial strain on remaining community members from a higher cost of living. The Consequences of Urban […]

Question: How Does Gentrification Affect Real Estate? Answer: Gentrification affects real estate by driving up property values and rental rates as investment flows into a neighbourhood. This spurs new development and boosts demand, but can also displace long-term residents due to rising costs, especially as landlords increase rent between tenancies. Gentrification’s Impact on Real Estate […]

How Neighbourhood Growth Influences Your Property’s Value You may watch your home’s value change over time. Many factors contribute to these shifts. The local market, interest rates, and the condition of your home all play a part. One of the most powerful influences, however, is the community around you. Understanding the effect of neighbourhood development […]

Question: What Are the Future Impacts of Climate Change on Housing and Buildings? Answer: Future impacts of climate change on housing and buildings include increased damage from extreme weather like flooding and wildfires, leading to higher insurance premiums and stricter building codes. Homes will require enhanced energy efficiency and climate resilience, impacting operating costs, renovation […]

Question: How Does Climate Change Affect Housing Prices? Answer: Climate change affects housing prices by increasing risks like flooding and wildfires, driving up insurance costs and potentially lowering property values in vulnerable areas. Shifting buyer preferences toward more resilient homes and stricter building codes also significantly impact a property’s long-term value. The Climate’s Impact on […]

How a Changing Climate Affects Real Estate Prices The weather is changing. We see more intense storms, higher water levels, and shifting seasonal patterns. These changes affect more than just our daily lives. They directly influence the real estate market. Understanding climate change and its impact on property value is now essential for homeowners and […]

Question: What are the Factors Affecting the Value of a Property? Answer: Key factors include location, property condition, size, market trends, economic conditions, accessibility to amenities, and local real estate market dynamics. What are the Factors Affecting the Value of a Property? Understanding Property Valuation Property valuation is a complex process influenced by a variety […]

Question: What Economic Factors Contribute to the Stability of a Real Estate Investment? Answer: Key factors that contribute to a stable real estate investment include favourable interest rates, robust local job growth, and steady population increases. Limited housing supply combined with high demand provides a strong foundation for value, while government policies on lending and […]

How Economic Forces Shape Your Property’s Worth Understanding the housing market requires looking beyond curb appeal and square footage. The price of a home rises and falls based on a wide range of influences. The most powerful of these are the economic factors affecting real estate values. These forces can change housing affordability, buyer demand, […]

Question: What Are the Benefits of Buying a Home in Foreclosure? Answer: Benefits of buying a home in foreclosure include the potential to purchase a property below market value, creating an opportunity for instant equity. This can lead to a significant return on investment, particularly for buyers comfortable with purchasing a home in “as-is” condition. […]

Question: What Are the Problems With Foreclosed Properties? Answer: The problems with foreclosed properties include being sold ‘as is,’ often in poor condition with no seller disclosures. Buyers may face significant repair costs, property liens, and challenges with existing occupants. The legal process can also be complex, and financing might be more difficult to secure. […]

How Distressed Properties Affect Your Home’s Value A well-maintained street with manicured lawns and homes in good repair projects an image of stability and desirability. The sudden appearance of a ‘For Sale’ sign on a foreclosed property can disrupt this harmony. Homeowners often worry about how foreclosures impact nearby property values. This concern is valid […]