Understanding what is included in your real estate purchase is crucial for avoiding misunderstandings during the transaction. When it comes to real estate, there’s a distinction between attached and unattached goods, and this can significantly impact your buying experience. So, what exactly is included in your real estate purchase? Let’s break it down. Attached vs.… Continue reading What Is Included in My Real Estate Purchase?
When purchasing a home, understanding what’s included in the sale is crucial. One key document you’ll encounter is the Real Property Report (RPR), which aims to provide buyers with as much information as possible about their potential new home. But does a play structure have to be shown on a Real Property Report? Let’s explore… Continue reading Does a Play Structure Have to Be Shown on a Real Property Report?
In Alberta, closing costs are generally not tax deductible for most home buyers. However, there are some exceptions and specific circumstances where certain costs may be deductible or provide tax benefits. Here’s a breakdown: Legal Fees: If you incurred legal fees to purchase a rental property, these might be deductible against rental income. However, legal… Continue reading Are Closing Costs Tax Deductible in Alberta?
What is a Secondary Suite? A secondary suite is a self-contained living space within a primary residence, such as a basement apartment, in-law suite, or carriage house. These suites typically feature their own entrance, kitchen, bathroom, and living area, making them separate dwelling units. Secondary suites are popular for their potential to generate rental income… Continue reading What is a Secondary Suite and How Does it Affect Closing Costs?
