I’m often asked about which type of investment property will return the largest profit.
Is it pre-construction, condos or single-family homes?
I always answer the same way:
“Firstly, have you thought about maximising your primary residence before you buy an investment property?”
In Canada, when you sell your home, you don’t pay any taxes on the profit you make – at least for now!
So instead of purchasing an investment that will get taxed at a high rate when you sell it, consider upsizing your home.
Does it make more sense that you live in a larger home, in a nicer area where your family can enjoy the benefits of a great neighbourhood?
Plus you make more money tax-free?
Of course, if you’re happy with your primary residence, then the next question is WHY do you want an investment property?
Whether you are looking to diversity your investments, build a portfolio of properties for retirement or you just want a nice get-away cottage for the family, I’m always available to talk about your long-term goals.
Are you looking to sell? Contact me and let’s talk.
Call (416) 276-4895!
Are you looking for the hardest
working agent in the GTA?
I am always available!
I look forward to working with you now or in the future…
