Thank you! You make great points here. I am with you on prices...just insane. Risks might outweigh the benefits...threeSwansinCostco wrote: ↑ It can be a good idea, though, if you never actually live in the home, you'll pay capital gains tax. If you do live in the home, for a day, you'll likely get audited by the CRA.
You can't "prepare numbers". Nobody can predict where the real estate market will be in 2 years. Builders have been inflating prices to align better with the market, so if the bubble pops, you might actually lose money.
Lookout for cheap builders, unnecessary lot premiums, and things that may turn future buyers off (further development literally next door, busy streets, etc).
Okay, really appreciate this.ChanT26223 wrote: ↑ Selling a pre build home at the point that it is completed is called an assignment sale. More likely than not it would be considered income for tax purposes. Assuming the RE market continues to grow as it is presently, you could still potentially turn out a profit. Many do this. Just have to be prepared on the other end.
