Condominiums can come in all shapes and sizes. But it’s important to know that not all condos are created equal when it comes to warranty coverage. Whether you’re buying a condominium townhouse, loft-style two-bedroom or a high-rise studio, they are all classified as condominiums if you own your unit while at the same time share access (and the associated fees) for facilities ranging from pools and parking garages to elevators and driveways, otherwise known as common... [read more]

Have you purchased a new home or condo from a registered builder? Good news – your new home comes with a warranty backstopped by Tarion, Ontario’s new home warranty provider. In case you have any issues with your home, it’s important to know what the warranty covers. Here’s everything you need to know: Deposit protection. If you put down a deposit when you signed the Agreement of Purchase and Sale, those funds are protected if anything goes wrong. Deposits on... [read more]

Buying and selling property as a way to make a profit can be a smart move as long as you do your research and know how to report it at tax time. When you buy property with the main intention of selling for a profit, you are engaged in the business of property flipping. This often means you buy a property, take possession, and do some renovations. After the property is improved, you sell it and any profits become part of your income. You may choose to live in the property while making... [read more]