Should We Sell Before We Buy? + Do I Have to Pay Tax To Move into My Own Condo Rental? — 'The Situation' Consumer Q&A
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Show Notes
Today's episode is our monthly 'The Situation' consumer Q/A segment - Urmi once again asks John to respond to the detailed questions you send in about the real estate decisions you are making as you navigate through the Toronto area housing market.
Today, we hear from a would-be upsizer wondering if they should buy before they sell, a condo rental owner who wonders if they will have to pay tax if they move in themselves and a frustrated young buyer wonders how this generation will ever caught up to previous generations when it comes to home ownership and retirement.
Links for today's show:
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Canada Government - Change in Use of Property: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-12700-capital-gains/principal-residence-other-real-estate/changes-use.html
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How to Avoid Capital Gains Tax When Moving To A Rental Property: https://realestatetaxtips.ca/avoid-capital-gains-tax-when-moving-to-a-rental-property/
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Generation Squeeze: https://www.gensqueeze.ca/
If you would like to send in your question to be considered for a future episode, please email [email protected]
If you have a real estate situation you would like to discuss with John in private, please connect with John at movesmartly.com/meetjohn
Connect with Us
John Pasalis, President and Broker, Realosophy Realty, Toronto | Email: [email protected] | Twitter: @JohnPasalis
Urmi Desai, Editor, Move Smartly | Email: [email protected] | X-Twitter: @MoveSmartly
About This Show
The Move Smartly show is co-hosted by Urmi Desai, Editor of Move Smartly, and John Pasalis, President and Broker of Realosophy Realty. MoveSmartly.com and its media channels on YouTube and various podcast platforms are powered by Realosophy Realty in Toronto, Canada.
You can also watch this and every podcast episode on our MoveSmartly YouTube channel here: https://www.youtube.com/movesmartly
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