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| Joshua13and1 |
 Posted: Wed Jul 28, 2010 2:38 am Post subject: Primary residence an investment? |
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Do you consider your primary residence an investment or just a place to live?
If it an investment to you expect to take your profit in your life time?
as in sell and move to a smaller or cheaper place (or maybe a nursing home)
Or perhaps it is more of a security issue. Rent goes up but you pay off your house and live cheaper than rent? |
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| john2020 |
| Posted: Fri Aug 06, 2010 8:53 pm Post subject: |
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Your home means a lot of things to you, most of them good. Your home gives comfort and protection to you and your family, and it could well embody all your material hopes and dreams.
But houses have become much more than just places to live. Your home is probably your biggest asset, and the price you could ask for it today is almost certainly much higher than what you paid for it back whenever.
As a result, houses have become substitute credit cards, as profligate owners borrow their equity to finance everything from cars to vacations. Among thriftier owners, the equity they have built up in the family home has become a vital part of retirement planning -- a "fourth leg" of the now-unstable "company pension/personal savings/Social Security" stool that was long the model for a financially secure old age.
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import export business
12v solar charger |
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| maha22 |
| Posted: Fri Aug 13, 2010 8:01 pm Post subject: |
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You can only claim a loss on rental property against the income of rents.
So you would actually have to rent the house out and have paying tenants.
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Boilers |
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| rachelle |
| Posted: Tue Aug 17, 2010 10:43 am Post subject: |
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http://oogyah.com/102 |
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| keilysmith |
| Posted: Sun Aug 29, 2010 8:15 pm Post subject: |
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| If it appears that the rules are stricter mortgage because they are. And they should be tougher, too. Each closure and collapse of high-level Bank, mortgage lenders increase their guidelines just a bit cold outside borrower access to mortgage loans. |
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| raj21 |
| Posted: Mon Oct 18, 2010 10:24 pm Post subject: |
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Sheri G's answer is absolutely wrong in Canada, where you posted your question.
The portion of the house you are renting is NOT considered your personal residence. It incurs a capital gain or loss when it is sold.
Calculating the ACB on that portion of the property is a but tricky, as it depends on the value of the house when you started renting rooms.
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| paulapayton |
| Posted: Wed Mar 09, 2011 5:16 am Post subject: |
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