Why is My Pre-Con Condo Worth Less Than I Paid? + Should I Sell Before Capital Gains Tax Increase? — ‘The Situation’ Consumer Q&A

It's time for your questions on our May consumer Q/A segment, ‘The Situation’.

I once again talk to Urmi Desai, Editor of Move Smartly, about the detailed questions you send in to me about the real estate decisions you are making as you navigate through the Toronto area housing market.

Today,  we hear from a frustrated buyer of a pre-construction condo who home appraisal by his mortgage lender says his unit is now worth less than what he paid for it. One condo investor wonders if her condo could be considered tax free if her son lives in it and another wonders if she should her condo unit before the capital gains tax increases in June.

How to watch?


If you would like to send in your questions to be featured on a future episode, please email me at askjohn@movesmartly.com

If you have a more specific or particular real estate situation to discuss with me and my agents at Realosophy Realty, connect with us at movesmartly.com/meetjohn

John Pasalis is President of Realosophy Realty. A specialist in real estate data analysis, John’s research focuses on unlocking micro trends in the Greater Toronto Area real estate market. His research has been utilized by the Bank of Canada, the Canadian Mortgage and Housing Corporation (CMHC) and the International Monetary Fund (IMF).

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