Consider These Financial and Tax Implications When Buying a Home

The Canadian real estate market has performed well in recent years, though analysts and economists have long warned of its potential overvaluation.

Potential homeowners often find themselves seduced by their vision of the perfect home in the perfect neighbourhood and often end up in a difficult situation, referred to as “house poor”, where the majority of their disposable income goes to paying down their mortgages. 

This can be avoided by ensuring that you realistically assess what you can afford and being financially responsible.