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North Vancouver is a highly sought-after area for families to live, but it's not for everyone. In this video I breakdown the best neighbourhoods for families in North Vancouver. Let me know in the comments what your favourite neighbourhood in North Van is.
Investors are screwed ☺️ the carrying costs are through the roof and now they are going to have to wait at least another 18 months until the next election to possibly have this reversed? Good luck!
That would be ideal if possible. There are going to be some people who were already planning to sell due to retirement or other reasons and who may have no other choice.
@@LivingInVancouverBC I just retired my plan was to sell two small condos this year to finance my retirement I should of kept working and not made room for someone else to move up!
can someone please help to understand, i have one(First) home which is primary home where i am living, i bought 12 years ago, now i am in stage to buy second home which will be our primary home, i have no plan to hold two home at all, but as market is not seller market, i am planning to hold temporarily my first house atleast 2 years , than i will sell it , now when i sell first home which has a significant growth, is this new rule applicable on this ?
You would declare your existing home to have been your principal residence up until you purchase your second home then your second home becomes your principal residence. When you sell your first home in a couple years you would have possibly had a capital gain in those two years, this would be your taxable capital gain on that property not for the years you lived in it.
@@waffles1ca thanks for reply, Apricaited, if you don't mind can you elobarate with numbers ? at present i lives in home(primery) i bought 12 years ago 350K , today's(April 2024) market value is 1M , now i buy my secnod house in June 2024 moved in so new house will be my primary house from june 2024 , and i hold my older(first) house till June 2026(2 years) how to determine the capital gain ? will they consider capital gain 1M - 350K =650K ? sorry if it sound stupid but i understand simple language... thanks again
I would recommend getting advice from your accountant on this. I'm not able to give advice in this area. I believe @waffles1ca is correct in their response above.
@@TVTV-gq8oj get your existing home appraised when you move to your new home. Your capital gain on your first home would start when it’s no longer your principal residence. So your gain up to June 2924 should be zero as long as you lived in that house from the time you bought it.
My parents had a cottage, it was owned by them for 60 years, starting in around 1982 there was a “valuation day” after that point capital gains would apply to the gain. My dad spent decades worrying about the capital gains tax whenever the cottage would be sold or turned over to the children as an inheritance. It was a constant worry. He and my mom enjoyed the cottage until he passed away in 1999 having enjoyed the cottage for 43 summers, he never had to pay the tax in spite of the worrying. My mom was the successor owner, she enjoyed the cottage for another 17 summers. She sold, declared the cottage to have been her principal residence, paid capital gains on her house. Everything is good, why would you worry?
This is just another reason to invest outside of Canada against your will because at least they have tax incentives and advantages for foreign property investors and do not squeeze you until you Pop! Thanks God bless!
The inclusion rate has changed several times over the years. It was 75% in the 1980s and higher in the 1990s, in spite of this the Canadian economy has grown significantly in those decades. Invest wherever you want. Canada has been a great place for me to live and invest.
That's what you get when you have a premier who thinks the supplier of housing are criminals. Now we have investors shying away, developers going broke and potential landlords are pulling out of the rental market due to over regulation. The housing supply is stalling, shrinking in some area and not growing but demand keeps rising. The real estate price will continue to go higher and rent will keep going higher. Simple economics. Supply and demand.
The difference between renter and owner, renter can rent forever, if he loses income, he is going to move to cheaper rent. Rent is going to increase with salary, because renters dictate how much they can pay. Property taxes, maintenance and mortgage going to increase by the desire of strata, bank of Canada, bankers and city bureaucrats. Yes, if you want to study and work like a horse and give away 80% of your income for shelter, you still can follow that real estate religion in Vancouver.
We need to change our B.C. party which is doing crazy, not Make sense, like Abnb policy that destroy bc toursim. Discriminate hard drug, using out taxpayer money to provide free hard drugs to Kill ppl, that is not make sense. Tax, tax tax is crazy . We need to vote out NDP and pick conservative that is more Make sense to ppl living in BC
BOSS- The quality of your video is very good, you do a lot of hard work for business but you are not getting views because of not doing proper SEO of the video. Even with so much effort, no result is coming
Hi Craig, thanks for sharing this gorgeous and amazing video! I really missed this beautiful place when I was there in 2015 and lived there for 3 months! Big hug for you from Brazil/ São Paulo
A group of indigenous warriors from across the province are coming to reclaim this piece of land in june. Saltspring island is unceeded and a group of 50 of us are coming to set up in the begining of summer. Regardless if it gets sold or not we are coming.
