Tag: realestate canada
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Reverse Mortgage Canada: What is Reverse Mortgage in Canada, Advantages & Disadvantages, How it Works & Who Qualifies?
Reverse mortgages have become a popular avenue for Canadians aged 55 and older to unlock the equity accumulated in their homes. HomeEquity Bank, the largest reverse mortgage provider in the country, reported a significant increase in activity, originating $1 billion in new loans in 2022, marking a 30% rise from the previous year. How Does…
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BC Property Transfer Tax: What is & How Much is BC Property Transfer Tax, Rates & Rebates
In the realm of real estate transactions in British Columbia, one often encounters a significant yet overlooked expense: the Property Transfer Tax (PTT). Similar to land transfer taxes in other Canadian provinces, BC Property Transfer Tax is a crucial financial consideration when acquiring a new home. At RateMasters.ca, we recognize the importance of understanding this…
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Freehold Townhouse in Canada: What it is & Pros and Cons of Buying
I. What is a Freehold Townhouse? A. Definition of a Freehold Townhouse In Canada, a freehold townhouse is a residential property where the homeowner owns both the structure and the land it sits on. B. Significance of Choosing a Freehold Townhouse Understanding the advantages and disadvantages of buying a freehold townhouse is crucial for making…
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Buying a Leasehold vs Freehold in BC: Pros & Cons: Which is Right For You?
Buying a property is a significant decision, especially when it comes to choosing between a leasehold and a freehold. Each option has its own set of advantages and disadvantages, and making an informed decision is crucial for a satisfying homeownership experience. I. Introduction A. Brief Overview of Leasehold and Freehold Buying a home in British…
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Understanding Leasehold Property in British Columbia: What it Is & How it Works?
Leasehold property is a unique concept in real estate that is prevalent in British Columbia. In this article, we will explore what leasehold property is and how it works. We will delve into its intricacies, benefits, and potential drawbacks to provide you with a comprehensive understanding. What Is a Leasehold Property in BC? Leasehold property,…
