2 July 2014

Here are some of the interesting highlights form the survey:

  • 32% of high-net-worth Canadians have additional commercial or residential real estate;
  • 1 out of 10 owns three or more of them;
  • 51% have vacation properties;
  • 42% own investment rental real estate;
  • 11% have properties for their kids or parents.

And though some Canadians try to become mortgage-free before getting retired, more than one-quarter of wealthy Canadians don’t have such plans.

“Paying off your mortgage with investments may lead to capital gains, and they will cause additional taxes and, as a result, less money to invest,” – added Peter. “In this case retirees may see certain tax advantages to maintain a low-interest mortgage on their properties.”

You don’t have to be already high-net worth Canadian to start investing in real estate! If you own a home or a condo as a principal residence and thinking about buying an investing property – we would like to remind you that July is a month to do refinancing of your existing mortgage and not only get rock-bottom low interest rates, but to save on legal fees, which we will reimburse on most refinancing transaction during the month of July! Call us 1-855-761-7001 and let us show you how easy it is to start your way to the high-net worth status!

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