Thiru Nirahulan's blog

In today’s economy, real estate is one of the best ways to generate wealth and fund your retirement. But while asset appreciation has been enormous – according to the Canadian Real Estate Association (CREA), the average annual rate of return has been around 7 to 10 percent for residential properties and 8 to 12 percent for commercial properties over the past few decades – before purchasing an investment property, residential sellers should keep taxes top of mind and be asking themselves this crucial question: How much tax do you pay when you sell a house in Canada?

Are You Taxed on...

The Canadian housing market could see more action in 2025, following a period of persistent challenges including higher interest rates, a quickly growing population and the pressure that puts on our housing market), on top of a housing shortage that has existed for decades. We’ve already seen lower interest rates spark increased activity in the market. The pent-up demand is palpable, but the inventory of homes is likely to get scooped up fast. If you’re feeling like you can’t get a foothold in the housing market, there are a few reasons for that.

Issues Impacting Affordability

Price...

Understanding the difference between a condominium vs apartment is important for buyers and renters. Type “condo meaning in Canada” into your favourite search engine, and you’ll find that the main difference between the two is that you can buy a condo, whereas an apartment is strictly available for rent. However, there is more to it than that. If you are asking yourself, “What’s the difference between an apartment and a condo?

What is a Condominium vs Apartment: Key Differences

Condo Ownership Structure

Condos are multi-unit dwellings that can be found in high-rise, low-rise, medium-rise,...

Homebuyers, sellers, market watchers and the broader Canadian real estate industry keep a close eye on the Bank of Canada’s interest rate announcements every six weeks. They always make headlines and can have a pronounced effect on the housing market, depending on which direction the Bank moves. So, how will the rate impact your mortgage? Let’s find out.

How Will the BoC Interest Rate Impact My Mortgage?

We consider many variables in life before making any big decision, and one of the most important ones to think about when buying a home is the current state of interest rates. While a low...

Ready to buy a home? Mortgage rates are likely one of your top concerns. Type “best mortgage rates Canada” into your favourite search engine, and you’ll be directed to pages of mortgage lenders or brokers. However, finding the lowest mortgage rates in Canada is just one part of the equation. You won’t get access to them if you don’t qualify. Read on to get tips on how to get the best mortgage rate in Canada, so you can start your journey to home ownership feeling informed, confident and ready to take action.

What is a Mortgage?

Before we tell you how and where to get the best mortgage...

What Happens When You Sell a House with a Mortgage in Canada

There are a variety of reasons that you might consider selling a house with a mortgage. The most common scenarios are when you need to move to a new location for a new employment opportunity, your family situation has changed with the addition of children or when your children head off to college or university or move out altogether. In each case, if your home no longer meets your needs, you may be contemplating breaking your mortgage contract. If you are considering selling a house with a mortgage, ensure you understand all the...

What happens when agents are showing your home for sale? Are there negatives to showing your house while living in it? And what are the signs a house showing went well?

There’s no question that COVID-19 dramatically shifted the showing process in Canada, with extra attention paid to safety and social distancing. Now, with restrictions practically non-existent across the country and people resuming more face-to-face interactions, here’s a quick refresher of what home sellers can expect when showing their homes.

Showings Vs Open Houses

Showings and open houses are different.

An “open house”...

Once you decide to upgrade your home – whether you’re planning to stay for a while or sell in the near future – thoughts about the best way to pay for home improvements soon take centre stage.

Some minor upgrades, such as new paint or simple updates to light fixtures and faucets, don’t typically cost a whole lot of money, but even the best-planned projects can quickly snowball out of hand, and the costs add up. Thankfully, there are numerous ways to help you afford what you need and even deal with increased costs caused by the dreaded reno surprises such as floor rot, foundation cracks or...

With the rise of remote work, finding a home that supports productivity, comfort, and work-life balance has become a priority for many homebuyers. Whether you’re a freelancer, entrepreneur, or working remotely for a company, your home needs to meet both personal and professional requirements. Here's a comprehensive guide to finding a home that suits remote work.

1. Define Your Remote Work Needs

a. Workspace Requirements

• Do you need a dedicated office? Or will a flexible space suffice?
• Consider the type of work you do. Creative professionals may need natural light and ample space, while...

Property taxes are an inevitable part of homeownership, yet many homeowners don’t fully understand what their property tax bill includes or how it’s calculated. Property taxes are not just a single charge—they fund a variety of local services and are calculated based on a combination of factors. Here’s a breakdown of what’s really in your property tax bill and how it impacts your finances and community.

1. What Are Property Taxes?

Property taxes are levied by local governments—such as cities, counties, and school districts—to fund essential services and infrastructure. These taxes are...