Sentences with phrase «condos as primary residences»

So yeah... I bought a condo as a primary residence in 2006 at the top of the market and I've regretted it every day since.

A celebrity actor or actress; singer; musician; or model; and desire to buy, sell, or lease a house or condo as a primary residence for yourself or a family member; or a vacation home or investment property anywhere in the world;

Not exact matches

My accountant says that he can count the condo as my mom's primary residence, but I have to pay capital gains tax on the cottage even though we have joint tenancy.

We offer condo refinance and purchase financing assistance for eligible properties being used as primary residences, second homes, or investment properties.

So, here's an example of how this prorated formula works using a Florida condo worth US$ 150,000, an investment portfolio with US$ 50,000 in U.S. stocks and $ 500,000 in Canadian stocks, as well as a primary Canadian residence worth $ 850,000:

* Condo 2009 fair market value of $ 225,000 — 2002 purchase price of $ 200,000 = $ 25,000 → you owe tax on this capital gain * $ 25,000 divided by 2 = $ 12,500 → the capital gain you will be taxed on * $ 12,500 x marginal tax rate (we assume 30 %) = $ 3,750 * Then you'd need to add in the tax owed on your house: The house fair market value in 2015 of $ 620,000 — appraisal value in 2010 of $ 550,000 = $ 70,000 → you owe tax on this capital gain (as your condo, not your house was your primary residence) * $ 70,000 divided by 2 = $ 35,000 x marginal tax rate of 30 % = $ 10,500 * The 2001 to 2009 appreciation of $ 300,000 would be sheltered as the house was your primary residence during those years.

Whether you are looking to rent the unit, use as a vacation home, or primary residence, this condo is what you're looking for!

Houses that are not primary residences often have different coverage considerations as will condos and beach houses.

Condos and houses must be investment properties in order to qualify; they can not be used as the owner's primary residence.

-- Residents of Calgary, Toronto and Vancouver are most likely to consider owning a condo as an investment (that is not their primary residence) and residents of Montreal and Halifax are least likely.