Karen,

Methinks you are a gift that keeps on giving!
 
You gave us encouragement.
You gave us sympathy.
You gave us your patience.
You gave us your expertise.
You gave us your concern for us.
You gave us a really cool cutting board to slice and dice the rest of our lives.
 
                                                                              You are one great person!
 
                                                                              Thanks,
                                                                              Amy and Knucklehead.

__________________________
Our clients say it best…

Our team of real estate sales professionals is committed to finding you, your dream home.
Whether you are looking to buy or sell, Karen Paul & Associates is with you every step of the way.

905-333-6234 | karenpaul.com | info@karenpaul.com
Real Estate Agents for Burlington • Oakville • Hamilton • Milton • Niagara
Free Home Evaluations | See Our Listings | Subscribe To Our Newsletter

Just received a very generous gift card from Karen and the team at KW.

Thank you all so  much!

It was a long journey through the Spring and Summer but we’re very happily settled in our new home now and thankful for the care, attention and professionalism we received during the listing and sale process.

Jim & Nina

__________________________
Our clients say it best…

Our team of real estate sales professionals is committed to finding you, your dream home.
Whether you are looking to buy or sell, Karen Paul & Associates is with you every step of the way.

905-333-6234 | karenpaul.com | info@karenpaul.com
Real Estate Agents for Burlington • Oakville • Hamilton • Milton • Niagara
Free Home Evaluations | See Our Listings | Subscribe To Our Newsletter

Karen & your team

With sincere thanks for all your work in listing, showing and selling my house. We are still unpacking but know we are going to love living in Burlington. Please share our thanks with your entire team.

Shelia & Gillen

PS. We got to meet the buyers. It made it so much easier for me to leave after 45 years. They are a young couple and seemed to really love the place! It made all the difference.

__________________________
Our customers say it best…

Our team of real estate sales professionals is committed to finding you, your dream home.
Whether you are looking to buy or sell, Karen Paul & Associates is with you every step of the way.

905-333-6234 | karenpaul.com | info@karenpaul.com
Real Estate Agents for Burlington • Oakville • Hamilton • Milton • Niagara
Free Home Evaluations | See Our Listings | Subscribe To Our Newsletter

Denise Thompson sent a thank you note to the Karen Paul Team with the following note…

Your professionalism, knowledge and experience were much appreciated in the sale of my parent’s condo. It has been such a relief to our family to have the condo sold and have them moved into a residence that suits their lifestyle at their ages.

It has made for an easy transition..

Wishing you continued success..

__________________________
Our clients say it best…

Our team of real estate sales professionals is committed to finding you, your dream home.
Whether you are looking to buy or sell, Karen Paul & Associates is with you every step of the way.

905-333-6234 | karenpaul.com | info@karenpaul.com
Real Estate Agents for Burlington • Oakville • Hamilton • Milton • Niagara
Free Home Evaluations | See Our Listings | Subscribe To Our Newsletter

When it comes to selling a home, there are a lot of different issues that have to be considered. One of those issues is taxes. These can be higher than expected for some home sellers, especially if they don’t understand how capital gains taxes work and how to legally avoid them.

But fortunately, there are ways to get around capital gains taxes in many cases, and to reduce the amount of tax that has to be paid in other cases. That way a home seller can save money when they sell their home, and reduce their tax burden considerably.

Here’s what any home seller needs to know when it comes to capital gains tax.

There’s a Time Requirement to Avoid These Taxes

If a home seller wants to avoid capital gains tax, they can do that by living in the home for two years out of the last five. The years don’t have to be consecutive, or the most recent ones. Just two out of the previous five will be enough. Then they can make up to $250,000 profit if they’re single or $500,000 profit if they’re married, and they won’t be asked to pay capital gains tax at all. If they make more profit than that, they’ll only need to pay tax on the difference between the amount their allowed and the amount they made, instead of the entire amount.

For example, if a single homeowner sells their house, and they have lived in it for two years out of the past five, they may make a profit. If that profit is $300,000, they’ll need to pay capital gains tax on $50,000, which is the difference between the $250,000 profit they’re allowed to make tax free and the $300,000 profit they actually received. The profit is based on the selling price of the house minus the purchase price plus any improvements that were made.

For many sellers, the requirements work out well and they don’t have to pay any capital gains tax at all when they sell their home.

Taxes Can Be Reduced for Sellers Who Meet Specific Criteria

For sellers who haven’t lived in their home for two out of the last five years, paying capital gains tax is a requirement at the time of sale of the property, in addition to any other closing-related costs. But there are ways to reduce the tax burden.

One of those is to make sure they hold onto the property for at least one year before they sell it. That way they will pay capital gains tax at the rate of 15 percent, instead of paying it at whatever their current tax rate is. For many people, their tax bracket is much higher than 15 percent so they can save thousands, or even tens of thousands, of dollars if they hold onto the property for at least a year.

After that point the property can be sold, because 15 percent is the lowest the taxes will go without meeting the two-year requirement for living in the property as a primary home. People who move frequently or who have investment properties or vacation homes may find that capital gains taxes become a bit burdensome, but they can always plan carefully for the one-year rule so they reduce their taxes as much as possible. The difference in the percentage of the profit they will owe can make a significant improvement on their tax burden.

When Selling an Investment Property, the Rules Are Different

It’s very important to consider that selling a primary home is different from selling an investment property or a vacation home. There is no way around capital gains tax for these types of properties. The only option is paying this tax at the 15 percent rate by keeping the property for a year.

Avoiding the tax isn’t possible, provided the seller makes a profit on the property. Since there isn’t a profit amount that can be made before capital gains taxes come into play, any profit will be taxable. Home sellers who plan ahead can ease their tax burden as much as possible, and can also focus on ways to prepare for the taxes they’ll be asked to pay when they sell a home that isn’t their primary residence.

Anthony Gilbert is the owner of The RealFX Group.

Anthony likes to write tips for home buyers and sellers and
believes knowledge is the best asset for anyone
involved in a real estate transaction.

Today everybody has their share of debt, whether it’s on credit cards, personal/student loans, lines of credit or mortgages. If you are uncomfortable with your debt load- let’s talk!

Consumer debt has risen over the past year. Paying down your debt as quickly as possible just makes sense. Monitoring your spending by budgeting using any one of the many online apps could be the solution.

Upon qualifying for a mortgage these three points are very important to a lending institution, when they evaluate your application:

• Reported income on your tax return (Line 150),
• Your credit report
• CRA for the previous year must be paid in full.

There is always the option of increasing your existing mortgage to pay off your high interest debts. However, the banks and mortgage companies will require a current appraisal on your home as well as proof of income. Another thought is to add a second mortgage to consolidate your debts.

There are pros and cons to both options.  Again, we can talk about this!

The Bank of Canada has recently increased their rate by .25% raising the Prime Rate to 3.7%. The financial institutes base their Variable Rate Mortgage rates on Prime. Consequently, it is smart to pay down your collective debt as quickly as you can in preparation for the next interest rate rise.

A five year fixed term has increased slightly, they are now in the range of 3.19% to 3.79% so if you are concerned with your variable mortgage, which will fluctuate with rising Bank of Canada Rates, I strongly suggest discussing the pros and cons of Fixed vs Variable Rate Mortgages.

As a mortgage broker, I am here to help you make the right financial decisions and become debt free down the road.

Lisa Upshaw is a Mortgage Broker with Open Door Mortgages and regularly contributes to Karen Paul’s Real Estate Blog.

• The 10 Don’ts Of Mortgage Closing
• Lisa Upshaw Talks Mortgages

Lisa Upshaw
Mortgage Broker
Open Door Mortgages
LisaUpshawMortgages.ca | 289-259-5095

Teamwork is critical in successful real estate transactions. And not just within our own team, but to our external partners that are involved in making your real estate transactions a success.

This is what Denise wrote…

Just had confirmation of closing. Our lawyers will also contact you to release keys. Thank you for your professionalism and courtesy extended to me. 

Karen Paul & Associates are a credit to the profession and I can say that after having a 38 year career as a real estate law clerk.

What I found exceptional is that Karen listens to her clients and that means a lot. 
__________________________
Our customers say it best…

Our team of real estate sales professionals is committed to finding you, your dream home.
Whether you are looking to buy or sell, Karen Paul & Associates is with you every step of the way.

905-333-6234 | karenpaul.com | info@karenpaul.com
Real Estate Agents for Burlington • Oakville • Hamilton • Milton • Niagara
Free Home Evaluations | See Our Listings | Subscribe To Our Newsletter

A Mother’s Day Poem

by Anonymous

Another Mother’s Day is here,
Bringing joy and pleasures new,
On this special day, Mother dear,
I want to remember you

I cannot give you costly gifts,
And I’ve told you this before,
No matter what I give to you,
You give back much, much more

I’m giving you a pure, sweet rose,
Gathered in the early morn,
This rose you planted in my heart,
The day that I was born

In kindly, loving thoughts of you,
And with the faith you still impart,
The rose I give to you today,
Is the love that’s in my heart

Selling your home? Ask yourself this quick question, will a prospective buyer know the use of that room that you are storing all the kids’ toys and junk in?

Make sure you stage every single room, do not presume that a buyer can visualize the space they see. Sometimes it really does need to be
physically shown to them so:

1. Set up rooms in your home for their intended purpose.
2. Declutter and be sure to show off how spacious that room is.
3. Arrange furniture in such a way that the room flows, do not cover windows and light with furniture.

If the room is empty, it’s equally as important to show its intended use. An empty room has no warmth, personality or life. It’s not inviting and certainly doesn’t help a buyer visualize their new life in that room. Add furniture, a use for that room that will, in turn, attract buyers.

Get rid of any furniture and others objects in the room that isn’t needed in a particular room for the purposes of selling your home. You are showing the buyer their perfect lifestyle.

Go neutral – a neutral room provides a blank canvass to help a buyer visualize what they can do themselves in that space.

In our experience, a house is not a dream home because of its size or color. It’s about how you feel when you walk through the front door – the way you can instantly see your life unfolding there. This is about more than real estate. It’s about your life and your dreams.

TRACKING YOUR WANTS AND NEEDS:

We can help you find the perfect home. Here are some things to think about as you begin looking at homes for sale.

GENERAL:

• Do you have a preference for when the house was built?
• Do you want a house in move-in condition, or are you willing to do some work on it?
• When people come to your home, what do you want your home to say about you?
• Do you want to have a swimming pool or hot tub?
• Are you looking for any additional structures such as a greenhouse or shed?

PROPERTY EXTERIOR:

• What type of home are you looking for – single-family, condo, townhouse, multifamily?
• Approximately what size house are you looking for?
• How many stories?
• What architectural styles do you prefer?
• What type of exterior will you consider?
• What size lot would you like?
• What kind of landscaping are you looking for?
• Do you want a porch or a deck?
• What are you looking for in terms of parking – driveway, garage, carport?
• What are other exterior features important to you?

PROPERTY INTERIOR:

• What kind of style do you want the interior of your home to have – formal, casual, cozy, traditional, modern or eclectic?
• What kind of floor plan do you prefer – open versus walls between all living spaces?
• What kind of lighting do you prefer?
• Do you have flooring preferences?
• In general, what are your likes and dislikes for the interior of your home?
• Are there specific room needs for your kitchen, bathrooms, bedrooms or other living areas?

BEING A STEP AHEAD: 

We understand how important it is to be “in the know” as a buyer. That’s why we’re happy to provide you with the tools you’ll need for buying the new home of your dreams!

__________________________

Our team of real estate sales professionals would be thrilled to work with you. Call us today!

Karen Paul
KP & Associates | Real Estate
Get that second opinion!
905-333-6234 | karenpaul.com | info@karenpaul.com
Burlington • Oakville • Hamilton • Milton • Niagara
Buyer’s Corner | Free Home Evaluations | See Our Listings | Subscribe To Our Newsletter