Today's real estate tip


Serving the Communities of: Oakville \| Milton (Campbellville) \| Halton Hills (Georgetown and Acton) \| Burlington
Home CONTACT ME Meet Steven Porter Homes For Sale Neighbourhood Sales Activity Report Free Home Tips Free Brochures Home Services Centre Local Community Resources Frequently Asked Questions eMail Us	Tip: Parents Did You Know That You Can Profit From Equity-Sharing and Help Your Kids Too? Equity-sharing is a two-way street that lets everyone in the family reach their real estate and investment goals: With the help of parents’ cash, children are able to purchase a home they may not otherwise could afford. With the kids sharing costs of homeownership, parents enjoy both tax benefits and investment profits. Example: In return for 50% (figure may vary) ownership interest in the home, parents make a $20,000 down payment on a $100,000 home. The kids live in the house and pay: Half the mortgage payments. Half the property taxes. All the maintenance costs. The children can claim tax deductions for: Their half of the property taxes. The parents do not live in the house. As investors, they can: Depreciate their half of the house on their tax return. Claim deductions for interest on their half of the mortgage payments and their half of the property taxes. When the home is sold, the parents and children divide the home equity 50/50. Out of their share, the kids repay the parents the $20,000 original down payment. As a further tax benefit for the parents and one step closer to full home ownership for the children, the children could pay parents back the deposit monies and the 50% equity share a portion at a time, over the term of ownership. This would allow the parents to defer capital gains over time and allow children to increase their equity position. This system will work on any ownership percentage the co-owners agree to. eg.: a 25/75 split, etc. It's also works in cases where co-owners may not be related. For more details on equity-sharing purchases or "lease to own" options, your call or e-mail is welcome. We’ll be glad to see if an equity-sharing plan could meet your particular needs.		"HomeALERT" Receive New MLS Listings by E-mail "Informed Home Buyer-Seller" eNewsletter, Subscribe FREE RELOCATING? Essential, Selling, Tips "Careful Moving" Checklist Free, Home Buyers Guide Free, Home Sellers Guide Refer family or friends to Steven For "Sale By Owner" centre Putting on a Better Garage sale Free Vacation Checklist REALTORS®, refer your clients here
	If you're not completely satisfied in your experience with HomesResource.com, we'd appreciate hearing from you.
		Learn more here
	Steven Porter ABR Salesperson/Accredited Buyer Representative Direct: 905-875-2582, Office: 905-338-9000 e-Mail: steven@stevenporter.ca RE/MAX Aboutowne Realty RE/MAX.com RE/MAX O/A MLS.ca OMDREB
	Home \| Site Index \| Copyright \| Contact Us \| Privacy Policy