Bud­get­ing

Calgary Herald - Calgary Herald New Condos - - Recreation & Investment Properties -

Some tips for mak­ing sure buy­ing a re­cre­ation property doesn’t leave you with un­ex­pected sticker shock:

Be aware of clos­ing costs, such as lawyer fees and home in­spec­tion fees.

An ac­coun­tant can help you nav­i­gate the taxation im­pli­ca­tions, both in terms of what taxes you have to pay up front, whether any taxes like GST can be de­ferred, what taxes are ap­pli­ca­ble if you rent out a property, and if any re­bates/write­offs are avail­able.

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