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[brampton101]

Real estate investors in Ontario: strategies to avoid capital gains tax

Real estate investors in Ontario often have large capital gains when they sell an investment property, which could result in paying thousands of dollars in taxes. The Canada Revenue Agency (CRA) considers these capital gains taxable income, and there are ways you can avoid paying these taxes on your profits if you sell your real estate investment property after holding it for a while. These strategies could be very valuable to real estate investors who plan to sell their properties soon.

Avoid Capital Gains Tax with your Principal Residence

You’re considered to have sold or otherwise disposed of a property when you dispose of it permanently. You may also be considered to have disposed of a property if you do something with it that would result in your not being able to use it as a principal residence again, even if you later put it back into use as your principal residence. It doesn’t matter whether or not you own another home. If you move out of your home for only a short period and then return, we consider you to have disposed of it at that time. If you move out and sell or give away all your interest in the property, we consider you to have disposed of it at that time.

If there is more than one owner on title, each owner is considered separately for purposes of determining whether they are disposing of their entire interest in a property under these rules.

Invest in Assisted Living Facilities

Assisted living facilities offer respite and assistance for seniors looking for a safer, more independent living option. However, there are downsides. If you’re thinking of investing in assisted living facilities for profit, here are some things you should consider. Sell your current home before buying an investment property: One common pitfall for real estate investors is trying to purchase multiple properties at once without first selling their primary residence. This can create cash flow problems as you attempt to juggle two mortgages on different properties while also covering expenses on your main home.

Invest in Purpose-Built Student Accommodation

Purpose-built student accommodation (PBSA) is a growing investment opportunity, and savvy real estate investors are taking note. Why? PBSA properties offer a number of desirable traits that make them appealing, including steady demand from students and access to government incentives. Here’s how you can buy into an investment property market that has room for growth.

Invest with Family Members

One strategy to avoid CGT is for individuals who are members of a family partnership or corporation (e.g., spouse, children) to invest funds into a property. A member of a family partnership will not have a taxable income event if they contribute funds; however, it is important that any funds contributed are kept separate from other assets within their own portfolio.

Get Professional Advice

Talk to a lawyer about how you might be able to structure your acquisition, holding and eventual sale of real estate. As a general rule, if you own an asset for longer than one year, you can sell it without triggering any capital gains taxes. If a lawyer tells you that there’s a way for you to hold onto an asset indefinitely, ask him or her how much it would cost each year for these services. How does that compare with what you’d pay for paying your taxes upfront?

If you are looking for strategies to avoid capital gains tax when selling your property, then this is the letter for you. Capital gains tax is a pesky and costly thing. It can cost investors a whole lot of money! But there are ways to avoid it. In this article, find out about one of them: investing through life leases which provide both capital appreciation and income generation. This is why life leases make good investments for real estate investors who don't want to worry about paying capital gains tax. Read this article to find out more about life leases and their benefits as investments for real estate investors in Ontario!

[brampton101]

The Brampton and  Mississauga's housing market is changing rapidly!

This month, Brampton as well as Mississauga's detached condo and home markets changed in distinct directions with the average condo price reaching new highs while detached property prices declining little compared to the previous month.

The average price for condos in Mississauga exceeded $700K for the very first time during the history of the city in March according to the latest GTA market statistics obtained from Toronto Regional Real Estate Board (TRREB).

For February the median cost for condos reached $736,006 in comparison to $555,330 in the previous year. This is an increase of 33.2 percent increase year-over-year. Month-to-month the median price rose by $39,302 when compared to January, which is 5.6 percent.

Mississauga home detached witnessed an increase in the month of January from $1,964,077 in January down to $1,921,283 in the month of. The decline in the average price of sale for detached houses was tiny compared to the year-over-year growth of $405,167 in the last twelve months.

In the same way, the median price on townhouse condos within Mississauga increased in February, reaching over 1 million, for the first time in a row, reaching $1,012,860. This was an increase of $83,780 when compared to January, and $271,294approximately 36.4 per cent when compared to February 2021 in which the monthly average cost for townhouse-style condominiums was $744,566.

Similar trends were also observed in the neighbouring town of Brampton where the average cost of detached homes dropping by $43,114 in January and February. The price dropped from $1,652,088 and $1,608,894, whereas the average price for condos surpassed previous records.

Brampton condominium prices increased 43.1 percent year-over-year, between February 20, 2021's $484,554 up to $693,955 in February.

Their townhouse-condo neighbors also established a new monthly sales-price record of $910,184 during the second quarter of 2022. This is compared to $669,670 in the same month in the year before -an increase of 35.9 percent rise.

The median Brampton townhouse and condo price was up 4.2 percent, rising over $873,098 at the beginning of January. Apartment condos jumped significantly from $622,579 up to 693,955, which is 11.5 per cent.

As with Mississauga as well, the drop in month-over month in the cost of Brampton detached homes was abysmal when compared to the increases observed over the last year.

Although it was down a little compared in January median detached home cost increased by $423,553 in February 2021, rising from $1,185,341 up to $1,608,894 in the same month in the calendar which is an increase of 35.7 percent year-over year increase.

"Demand for homes that are owned by the buyer is still strong across the GTA. While we're not quite at the record rate seen last year, any prospective buyer interested in this market is unlikely to feel the pinch with increasing competition," said TRREB president Kevin Crigger in his monthly analysis.

"Many households have accelerated their purchase of a home and entered into a deal in 2021. This is one of the reasons why the number of sales is expected to be lower in the coming year, and a trend towards more expensive borrowing costs will affect the sales of homes," he added.

The more expensive housing options such as semi-detached and detached houses experienced significant decreases in year-over-year transactionsin Mississauga as well as Brampton the month of February.

However, the year-over-year sale of condos were slightly higher in Brampton when compared in February in 2017 and the condo market in Mississauga experienced only a slight decrease in February 2021 compared with February 20, 2021.

Contact Us: 

268 Derry Rd W Unit 101 

Mississauga, ON 

L5W 1N6 

416-910-8923 

https://www.teamarora.com/

[brampton101]

How young sumi purchased an $1.3 million house located in Brampton, Ont.

Where: Brampton, Ont.

Budget for the initial phase: $1.2 million

Sumi was looking to purchase a house in Toronto and lease it out on Airbnb to earn an income that was passive. After examining the costs for condos within Toronto the man decided to search for a home close to his the home in Brampton and could reside in.

"Slowly realizing the difference in price between a home and a condo was logical, it made sense to invest in something that was built before construction then wait a bit and you'll be able to earn the equity" He said.

Sumi is employed within the industry of film and says it's essential to supplement his income by investing in real property. He even thought about joining forces with his friends to purchase and flip houses for profit.

After he had decided to purchase the property, his dad was able to join him and they divided costs 50/50.

In the course of three months research after an unbuilt home. "I haven't done any person-to-person visits or anything similar to that, because I'd like to make pre-construction investments. In other words, I could not look at the house being completed. It seemed like it was the best method of getting a house without spending more than $2 million."

He paid $100 more than the asking price, for an amount in the amount of $1.3 million. He concluded the sale in 2020 , and then was able to take possession in July 2021.

Making enough money to buy the house took time and lots of effort, according to Sumi. Through the pandemic, he as well as his father became working a holics, making work the most important thing. They also run an enterprise together. They have a strict budget and have made every effort to get as many savings from their business in the house as they could.

"I did not have a good work-life balance. I had an awful amount of work, and sleeping a lot," he said.

It wasn't simple and the process of getting a mortgage was complex.

"Seeing people say it's hard to find a home, it's hard. As I said I lost about half my hair trying to obtain an mortgage for this. It was a nightmare. I'm with a lot of people. It's tough and can be stressful when the market value is going up to super-high levels."

Sumi believes it's feasible for millennials to have their own house. Even if they aren't able to get assistance from a family member as he did, beginning with a small amount is the first step.

(source)

[brampton101]

Brampton Housing Market 101

There's plenty to offer all people in Brampton. From a small house or a full house or the apartment you are able to find everything. In the past, there were plenty of bargains to be had, but today the city is becoming more expensive and the prices are rising. Still, there are bargains to be had but you need to search these out. Don't be discouraged They're there and the local housing market is lower than average!

A typical type of housing:

A mixture of townhouses, detached homes as well as apartment buildings and condos.

Average Rent

Avg. rent based on housing size:

Bach/studio: $1,097

1-bedroom: $1,848

2-bedroom: $1,658

3-bedroom brampton: $2,025

Avg. rent in comparison with similar Canadian cities:

Brampton has a 6% less in comparison to the Canadian average

Apartment Hunting

If you're searching for Brampton rental apartments the best option is to browse ads on rental sites. The cheapest housing available is most likely to be targeted towards students. If this is in your budget, you can consider an apartment for rent in Brampton which is offered by private owners near postsecondary schools. If you've got more cash to spend, you can take a look at a house to rent in Brampton or an apartment available for rent in Brampton or a condo. Brampton houses available for rental range from modest two-bedroom basements available for rental within Brampton to three-bedroom townhouses available for rent in Brampton and new houses in Brampton. Downtown, you will also locate one-bedroom Brampton condominiums and apartment buildings which are all-inclusive, while others are decked out with facilities like balconies, pools dishwashers, laundry facilities and balconies. There are also many new houses for to rent in Brampton that are divided into rentals.

Note:

Brampton is often portrayed as a bedroom community in Toronto however, don't believe all you hear. Brampton is actually an entire city in its own right. Are you still not convinced? Check out the city.

Explore the various types of property

You might be amazed at the number of different kinds of rentals are available in Brampton. Brampton is diverse and the listings available. Don't be sceptical about the possibility to live in Brampton It is more peaceful than Toronto however it is exciting in its own manner.

Apartments

We've all heard of the Brampton stereotype but the Brampton community actually is very welcoming to all kinds of backgrounds. Residents who relocate to Brampton rental apartments frequently don't want move out.

Basements

Finding a comfortable and cozy home in the GTA may seem like a daunting task. Brampton apartment basements available for rent give tenants tranquil and comfortable places to live for a reasonable price. If you're okay with a lack of natural light it is possible to find a great deal in this area.

Townhouses

Brampton is a wonderful residential area full of people from all over the globe. Homes that are single-family can prove difficult to maintain however, Brampton townhouses available for rental can provide additional interior space, without the burden of managing your own large-sized property.

Houses

If your home is what you're seeking, Brampton houses for lease are perfect for those who are. Every neighborhood is unique in its own way and offers a variety of choices for young families or a small group of buddies. Find out about your maintenance obligations as a tenant before moving into.

Condos

The city is home to a healthy mix of high-density and low-density structures. If a house isn't your style, you can look into the wide range of Brampton condominiums which are on the market. Be aware that in every one of them, you'll have to answer for the private owner, as well as an governing body for building. Make sure you are aware of all applicable guidelines and regulations prior to you move in.

Check out the facilities you're looking for

Brampton isn't all homes, basements and bedrooms. There are many properties that have all the features you'd want. Choose wisely where you'd like to reside. The importance of a space that you love is a very under-rated quality.

Wheelchair-Accessible

Brampton accessible homes for rent are an absolute necessity for anyone who has mobility issues. Most large buildings will feature ramps or elevators. However, bungalow-style homes are a good alternative too.

Pool

Swimming is among the activities that nearly everyone loves. Brampton homes available for rent that have pools could turn you into the ultimate host of gatherings. Make sure you inquire what your building's rules are about guests before inviting guests over.

Gym

Before you sign up to live in some of Brampton rental apartments equipped with gym facilities be sure to look over the gym. Also, inquire about their timings for opening times since some apartments do not have it open 24 hours a day.

Fireplace

Brampton is home to a variety of cozy and comfortable homes for rent. A property that has an active fireplace can add additional style and warmth to your residence. Take a look at Brampton properties with fireplaces to begin your search.

Dishwasher

Brampton is an area that is rich in diverse cultures from all over the globe. After you have moved here you'll be eager to experiment with new and exciting recipes. Brampton houses available for rent that have dishwashers can help in cleaning up after impressing your guests with your new recipe.

Balcony

Take a look at Brampton homes that have balconies available for rent to enjoy the sun in your own your own home. Check with your building's policies concerning balcony furniture and decorations. Also, consider houses with back gardens or decks if apartments aren't ideal for you.

Air-Conditioning

Brampton properties available for rent that have air conditioning will help you beat the heat of summer. Ask the property owner whether the unit is central air or a wall unit or window units since they each function differently. Be cool!

Washer-Dryer

Making sure you take all of your laundry to the laundromat may be quite tiring. Inquire with the proprietors of Brampton rental apartments that have washers and dryers whether they offer laundry machines in-suite or in communal locations for tenants.

Specialty Housing Filters

Every person has their own unique lifestyle and circumstances that can restrict your options when it's time to choose an apartment or a place to live. Do not be afraid to filter your search results; it could save you lots of hassle later on.

Pet-Friendly

Look into pet-friendly rentals within Brampton to start your search for your pet's ideal home. A tip If your pet is fond walking take them for a walk at one of the numerous parks around Brampton. Every neighborhood has one or more.

Furnished

The majority of people don't want traveling with lots of furniture. Furnished apartments available for rental in Brampton aid in the transition process and provide everything for your arrival. Request recent pictures or take a walk to ensure that everything meets your requirements.

Short-Term

Are you not planning to stay for a long time? Shor-term rental options in Brampton are available in all kinds and shapes. Other options are located by searching for lease transfers and sublets.

Corporate-Housing

You are visiting Brampton for a couple of months to work? There are many properties that are willing to lease to tenants who are in Brampton to work. Take a look at Brampton Corporate housing available for lease to begin your search.

Student-Housing

Brampton isn't regarded as a hub for students However, student housing Brampton can be located. Search for multi-bedroom homes with affordable prices to find your dream home.

Affordable Housing

If you're trying to stay within your budget, cheap apartments for rental in Brampton are available. Be sure to visit the place to ensure you don't have to sacrifice the quality of your home or security in order for a few dollars. Consider living with roommates to reduce costs.

Luxury

A lot of people don't see Brampton as a place that is luxuries to live in. They're mistaken, luxury apartments for rent in Brampton are available in all sizes and shapes and come with all the amenities you'd want. Flooring made of hardwood granite countertops gorgeous lighting. You can find it all here.

Residents

Brampton is a diverse community. There are huge South Asian and black populations and strong immigrants' communities. Religion is a major aspect of many people's lives and include Christianity, Sikhism, Hinduism and Islam all practiced extensively. For work, residents are typically office workers within corporate environments. In reality, a lot of major Canadian companies, such as Loblaws has their head office in Brampton.

Ideal for: Families and business professionals seeking an active, diverse, and vibrant community.

Not so perfect for: Anybody who owns an MAGA cap - or wishes for an Canadian equivalent.

Life and Style

Brampton is among those cities that lives up to its name. Brampton is advertised as a thriving community and that's exactly the case. People often put in the effort to climb in the ranks of the company, yet they they know when to end their work at the end of the day. Because everyone is stressed about their work on a daily basis weekends, they are more about relaxing and rest. People take advantage of the numerous sights, sounds , and tastes Brampton can offer, including a day at the art gallery or catching performances in The Rose Theatre to cooling off at the Wet'n'Wild Water Park!

Neighbourhood

Transportation isn't a problem for Brampton. Apart from having an GO station, and being located on the Greyhound route, Brampton is cut by the 407, 410 , and the 107 highways. There are plenty of green areas as well as a number of golf clubs at the southern end in the town. Brampton provides private, public and post-secondary institutions. To shop, head Bramalea City Centre mall Bramalea City Centre mall or Trinity Common. To the north of them is a hospital that is large. The west-facing area is home for Cassie Campbell Community Centre. Cassie Campbell Community Centre and to the east, and to the to the south of the city there is Pearson Airport. For boxes stores and government buildings go to house near steels and bramalea Brampton. There is entertainment in SilverCity Brampton or the Brampton Sports Center.

Landmarks:

Brampton City Hall

St. Paul's United Church

Sri Katpaga Vinayagar Temple

Humber River

Wet'n'Wild Toronto

Rose Theatre

Gage ParkOrchalaw Farms

Donald M. Gordon Chinguacousy Park