Toronto Real Estate

/Tag: Toronto Real Estate
Jun 12, 2018

Down Payment Dilemma Part II: To Gift or Not To Gift?

2018-06-12T20:42:41+00:00June 12th, 2018|Financial Planning & Tax|

Previously, we wrote about the risks of gifting your children a down payment in today’s housing market. Stifling mortgage payments, rising interest costs and house price corrections all need to be considered, particularly in hot Canadian real estate markets like Toronto and Vancouver where even modest housing price corrections can wipe-out generous gifts.  Still, providing financial assistance to loved ones remains at the top of many parental wish lists, with down-payment support ranking about as highly as the desire to help with education costs.  Options like these are also often preferred to cash gifts if there’s any doubt about an [...]