The Complete Guide to Buying and Owning a Recreational Property in Canada - Softcover

Gray, Douglas

Softcover

ISBN 10: 0470839724 ISBN 13: 9780470839720

Publisher: Wiley, 2007

Synopsis

Prime vacation property throughout Canada has doubled in value within the past five years. For the potential buyer of a vacation property, the cost of entry can be stiff. There is a high demand for many to own a vacation home or idyllic retreat for pleasure and lifestyle enjoyment, future retirement, rental revenue, or investment profit. But buying a recreational property can be a potential minefield for many reasons, as there can be complex tax, legal, estate planning, and investment issues to consider.

When investing hundreds of thousands of dollars in a recreational property you will need to do your due diligence and seek solid advice. The Complete Guide to Buying and Owning Recreational Property in Canada, written by Canada's leading authority on matters related to real estate, offers valuable insights and tips, and will prove a trustworthy resource for many years to come.

Topic areas include:

• Buying the right property, for the right reasons, in the right location
• How to set a purchase and financing strategy and how to negotiate your best deal
• How to exercise caution when buying with family or friends-and how to keep peace in the family when sharing use or ownership
• Getting the help of professionals, such as a tax accountant, lawyer, home inspector, mortgage broker, insurance broker, and realtor.
• Obtaining tax and estate planning strategic advice to save tax on transfer, sale or bequeathing of the property, or inheriting a property
• What you need to know if you are buying recreational property as an investment.
• Money saving tips when renting your property yourself or using professional rental management
• Special cautions if buying a vacation home or cottage outside of Canada
• Creative ways of using your vacation home or cottage for exchange or barter
• Key strategies to follow and classic pitfalls to avoid
• And much, much more! Plus Sources of Further Information, Key Websites, Checklists, Glossary, and Index.

About this title

About the Author:

Douglas Gray, LL.B. (Vancouver, B.C.) formerly a practicing lawyer, morphed into a consultant, columnist, speaker, and author of 24 bestselling Canadian books on real estate, small business, and personal finance. He is the author of many popular real estate books, including Making Money in Real Estate, Real Estate Investing for Dummies for Canadians, and 101 Streetsmart Condo Buying Tips for Canadians. His website is: www.homebuyer.ca

About this edition

• Publisher: Wiley
• Publication date: 2007
• ISBN 10: 0470839724
• ISBN 13: 9780470839720
• Binding: Paperback
• Number of pages: 320