Sentences with phrase «next primary residence»

My wife and I own townhouse in Hilslboro near Intel (off Brookwood) and we are looking at potentially using a HELOC on the townhouse (> 100k in equity) to eventually purchase our next primary residence while keeping the townhouse as a rental.

After it has been rented, the next primary residence can be purchased.

Not exact matches

The next physical property I will buy will be a primary residence in Oahu.

The BMO Spring Housing Report reveals that 23 % of respondents are planning to buy a primary residence in the next year with an average price of $ 474,000 nationwide; $ 580K in Toronto and $ 603K in Vancouver.

From here the objective is to continually buy properties as a primary residence, move in, live in them, and then rent them to suitable tenants when you are ready to buy the next one.

That's because any land or property that is not considered your primary residence is subject to capital gains tax in Canada (and it doesn't matter where you decide to purchase / build your next vacation property).

While there are valid arguments at this time as to whether one should rent or own their primary residence given the absurd amount of debt most are carrying on their principal residence along with artificially cheap money and the boomer influx about to hit the real estate markets across Canada over the next few years it would seem you are okay in that area.

Don't forget anything you earn from selling your primary residence is tax - exempt and you don't necessarily have to find the next place to live immediately if you consider renting for a year or two an option.

I think that if you are looking to mortgage your next place, that you will need to sell it, as the banks will not agree to a mortgage which isn't your primary residence.

In the future, the two plan to built a 400 square foot home as their primary residence on the property, but their next project will be an outhouse with a solar water heater.

If I refinance the two - unit mortgage in the next month or so should I just go straight to an investment property loan or should I keep it as a primary residence loan?

I have also found through reading on BP that if I get a primary residence mortgage on it then I probably won't be able to get a new one for my next personal home within 6 or 12 months.

Respondents captured were either current homeowners (individuals who currently own a home as a primary residence) or prospective homeowners (individuals who do not currently own a home and are likely to buy a home as their primary residence in the next six months).

According the 2012 NAR Home Buyers and Sellers Profile, 40 percent of repeat buyers use the proceeds from the sale of their primary residence as a source of down payment, but downsizing boomers may have enough equity left from their home sale to pay all cash for their next purchase.

This will be our primary residence for at least the next 3 - 5 years.

Yes, it does require a little more paper work with the FHA, need to have the 203K Consultant involved and handle inspections / appraisals and such, but the fact that I can get into a property, have up to 6 months of mortgage payments included in the cost of the loan so that we don't have to worry about double rent / mortgage payments, rehab my primary residence the way we like it, save a 1930 - 1940's era farm house, and then refi into a conventional cash out mortgage later on and use that equity to go buy rental properties... nice way to get started, without having to put up a lot of cash or live next to tenants / in town (I'm a RURAL kinda guy).

-- 26 per cent are planning to buy or refinance a primary residence in the next three years.