With housing prices soaring across Canada, and politicians on every side of the political spectrum pontificating on how they plan to cool the market, perhaps now is a good time to think about selling yours. Especially if you’re in a place in your life where that makes sense. Perhaps your kids have left your home and it’s time to downsize. Perhaps your home is part of your retirement strategy to cash out and fly out to the retirement spot of your dreams. Congratulations! You’re in the right place and time to make the most of that opportunity.
The day you buy your first home is an exciting one. There are colour palettes to consider, curtains to hang, and furniture to buy. Before breaking out the paintbrushes, rollers, and logging into furniture websites, you first need to actually get into that house.
Following the increase in activities in the Canadian real estate market over the last couple of years, the CRA currently has a significant audit initiative underway that will impact taxpayers buying and selling real estate.