As long as the market
value of the personal residence is less than a reasonable estimate of its equivalent value, I would count it as an asset.
Not exact matches
ninety LTV Refinance Analyzed top rated list
of Refinance Loan companies from Evaluations If you wish to determine how much lendable collateral you have in your house based on a loan to worth all you have to get it done take your property
value, multiply this by the
personal loan to worth (the percentage you need to borrow) then subtract any kind
of mortgages owing against the property and also
residence tax or some other liens / encumbrances.
For each property you own and list on your
personal taxes, enter the type — primary
residence, investment property, undeveloped land, etc. — address, date
of purchase, original cost and the present market
value — on the as -
of date.
UPDATE: Ontario has introduced equity protection for
personal residence in a bankruptcy up to a
value of $ 10,000.
This can include a certain amount
of real estate equity in your primary
residence, the
value of your car up to a certain level, and certain
personal effects and household goods.
For many, their real estate assets — usually their
personal residence — can grow in
value over their lives to become a very substantial and even majority part
of their
personal investment asset portfolios.
Land Transfer Tax: Yes, there is no capital gains to be paid on selling a
personal residence but you pay a tax on the entire
value of the property at the time
of buying that runs into the thousands
of dollars.
Whether it's a high - rise hotel located smack - dab in the middle
of a bustling downtown city or a secluded
residence hidden in a rainforest, converting the roof
of a building to a livable area adds
value not only to the space but to one's
personal experience as well.
These provisions create (1) an non-immigrant Canadian retiree visa that would allow Canadians 55 years and older who have a rental agreement for lodging or own a US home in the US to stay as long as 240 days each year, and (2) an non-immigrant retiree visa for foreign nationals 55 years
of age or older who purchase a principal
residence (or a
personal residence plus other residential properties)
valued at $ 500,000 or more and who agree to stay in the US for a period
of not less than 180 days per year.
The total
value of residences exceeds $ 1 trillion and land and housing together account for one - third
of all
personal assets.
On the off chance I borrow against a depreciating or non-income producing asset (such as a car or
personal residence), I only borrow a fraction
of the conservative market
value of the asset (i.e., < 50 %).