Very good information from an accountant friend of mine Jimmy Le-Tang You may or may not have heard about recent tax changes regarding the principal residence exemption available on the sale of a taxpayer’s principal residence. The recent changes are significant and I would consider them to be a TAX TRAP because the new rules […]
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Market Averages, Government Intervention and Reality
In the Vancouver market, we often hear about the benchmark price, the average price, and the median home price. Usually that of a specific neighbourhood or municipality. However, what buyers rarely hear is the average price of the bottom 80% of listings of the Greater Vancouver Area. Y’know, the properties that the overwhelming majority of […]
How to pay off debt faster – 25 secret tips
1. Make a double mortgage payment whenever you can. Doing this once a year can shave over 4 years off the mortgage! Sometimes you can skip a payment later on too…if you really, really need to. Try not to. If your payment is $2,000 a month, four years of no payments is $96,000!! 2. Increase […]
Unique Details on Properties Which Will Make Your Pre-Approval Void
Shopping for a new home can be fun and exciting, but there are many details that contribute to a property’s marketability. Mortgages that have the lowest total cost are reserved for the most marketable properties that are in prime locations as per the lender’s criteria. Please remember that a mortgage professional can never advise a […]
Property Tax Time 2016
We’ve come to the least favourite time of year as a home owner….property tax time! I generally get a lot of questions on what to do and how to do it. Below is an example of a tax notice just received. You will notice there are three columns; A, B and C. Column A is […]