All Blog Entries by Justin Havre

Vacation homes aren't treated the same as a primary residence when it comes to selling, which means owners may need to do a bit more research than they had initially planned. The tax breaks are very few and far between because the home is technically considered a luxury good. See how capital gains and depreciation can work either for or against a seller and what a seller can do to either reduce or delay the amount they have to pay.

Capital Gains for Vacation Homes

Traditional sellers are more or less exempt from paying capital gains on a home that's appreciated over time, but vacation home sellers will have no such luck. In this case, the owner of a vacation home is taxed the same way a stockholder is taxed on their gains. While sellers can

Are you looking to sell a home and do you need to include home sale contingency clauses in a contract? There are benefits and drawbacks to such contingencies but they do offer a legal way for contracted parties to meet specific actions or terminate a contract. How may home sale contingency clauses impact the selling or buying of a home?

What Is a Home Sale Contingency Clause?

A contingency clause may often be found within either an offer to purchase a property or a real estate sales contract. The transaction is binding if the home sale contingency clause is met. If the clause is not met or not met within the time frame specified, the buyer or seller may back out of the contract without a penalty. There are often specific terms or a timeframe

For large portion of people looking to buy a home, obtaining a mortgage loan is an essential part of the process. It may come to a surprise to some that in addition to making mortgage payments, it may be necessary to pay a lender an additional monthly fee. LMI is an obligation for many homeowners and one may need to account for this additional expense when becoming a homeowner. Approved home mortgage applicants making a small down payment need to know more about LMI and how it will affect them.

What Is LMI?

LMI, or "lenders mortgage insurance", is a style of insurance offered to mortgage lenders in order to secure the home loan from default. This insurance is paid out to the trustee or lender and in some instances is required upon being

Buying a home comes with a lot of choices; which type of home works best, which neighbourhood offers the most benefits? Homeowners also have to choose whether they may want to protect themselves when purchasing a new home. This form of protection comes in the shape of home warranties. These warranties generally covers the structural integrity of the home and is a different type of protection than what is offered through a home insurance policy.

Overview of Home Warranties

Home warranty requirements vary by province. Home warranty programs include mono-provincial warranty programs, single New Home Warranty Programs and third-party warranties. Builders must be a part of a Warranty Program to receive mortgage insurance on loans considered to be

Starting from scratch when selling a home can be daunting, and unfortunately, the overwhelming feelings aren't entirely imaginary. Mistakes may not only cost a seller money on the final price of their home sale, they may even lead to a lengthy legal battle over control of the property. Follow this short guide before putting a home up for sale in Canada.

Prepare for Costs

To sell a home in Canada, a seller will need to commission legal services to prepare certain documents. This usually includes a statement of adjustment, which is a declaration for the buyer regarding the current state of the property taxes on the home. For example, if the seller paid for a year's worth of property taxes in January and sells the home in June, the buyer is

No matter how much inherent beauty a home already has, it's never the wrong idea to make a little extra effort when it comes to a home showing. The good news is that sellers don't necessarily have to break the bank to do it. From brightening up the flower beds to adding a new coat of paint to the garage, there are more than a few cosmetic touches or home improvements that you can make to attract better offers.

Start Outdoors: Curb Appeal Is Key

Homebuyers tend to judge your home by the very first impression, and so neglected exterior and grounds will only attract home flippers or bargain hunters, so it's important to send the right message. Whitewash the siding, invest in a welcome mat, or add friendly house numbers. Buyers often make a

Some people are born problem-solvers around the home. They're the ones who can rig up a movie projector from an aluminum can and some duct tape, or the ones who can fix the car with sheer force of will. But there's a difference between being handy and being a trained contractor who can safely finish major home renovations. Before you jump into a project that may end up being more trouble than it's worth, keep the following tips in mind.

Threat of Injury

Garage doors, roof eaves, and wiring can be some of the most hazardous aspects of a home. Too many homeowners learn this the hard way when they decide to upgrade or repair a flaw they may not fully understand. Too many homeowners vastly underestimate the dangers of these components and discount

Solar power has only gotten better over the past few years, to the delight of environmentalists everywhere. Not only are costs down, but homeowners have more options when it comes to installation and aesthetic options. But solar power may not be the best idea for every homeowner just yet, depending on location and the condition of the Riverview home. See what new technology is available before you decide to outfit the roof with new panels.

The Basics of Solar Power

Solar panels use solar cells to turn the energy from the sun into power, with one cell giving off between 1 to 2 watts of power. The process works by turning the photons of light into an electric field that can be used to create electricity for the home. The solar cells are usually

Many renters aspire to own their own home one day. Renting may seem like money that is being thrown away instead of creating equity in a property. However, there are many factors to consider when deciding to rent or buy a home.

Canadian residents deserve to live in a home that provides them comfort and reflects their personal lifestyle. It is important to think through both options before creating a significant financial obligation for oneself by buying a home. A resident's current assets and the state of the housing market may also be worth considering when choosing to buy or rent.

Explore a few of those factors when thinking of buying or renting a home today.

Can you put down a significant down payment toward the purchase price?

When it comes to having a smart home, many homeowners are excited about the prospect. They want to do more, and they want to have more time and freedom. If they automate a lot of their house's requirements, they can spend more time enjoying everything else. That definitely makes sense, but there can be problems with smart technology. It does not always work as anticipated, and if a homeowner chooses technology that is not going to fit their lifestyle, it can end up being an expensive mistake that they will have to undo and change later on. Here's what a homeowner should know about smart home technology before getting started on it.

Cost Is Not Always the Deciding Factor

Some smart home technologies are very expensive, and others cost far