Realtor, Real Estate Okotoks, Cochrane, Calgary

      


Big city deals with a small town feel! 

Specializing in Real Estate in Calgary, Okotoks, Cochrane & Area


Call or text 403.700-2532   Email: home@griffinre.ca

Brett Murrell, Realtor Real Estate Agent serving Calgary, Okotoks, Cochrane & areas


Do your research before selling a second home


Owning an investment property can provide useful income, while having a recreational property can provide a great place to spend time with family and friends.

 

But if you are thinking it’s time to sell, some careful research is in order.

 

“There’s a lot to consider when selling your investment property or a vacation home,” said Laura Parsons, the Calgary-area manager for mortgage specialists with BMO Financial Group. “Do your homework.”

A major factor when selling a property that is not your principal residence is the potential for capital gains.
Generally, if you sell the property for more than your original purchase price, half of the capital gain is taxable at your marginal tax rate.

 

However, the Canada Revenue Agency has strict rules on calculating capital gains, and changes do occur, so Parsons recommends talking to your accountant and making sure they are knowledgeable about investment real estate.

 

“The impact of when you sell may have a bearing on how much tax you pay,” she said. “So, it’s really important that you speak to your accountant and make sure that this is a good time for you to sell.”

 

Your accountant can determine if there are ways to reduce your capital gains for tax purposes – any renovations you’ve made to the property of a capital nature, for example.

 

On the flip side, an accountant might caution you against a sale if you are expecting increased income that would bump you into a higher tax bracket.

 

“If you’re in a high-income-earning year, you may not want to have some capital gains on top of that,” said Parsons.

She says if you’re paying a mortgage on an investment property or vacation home, you should also consider the effects on financing if you sell.

“THE IMPACT OF WHEN YOU SELL MAY HAVE A BEARING ON HOW MUCH TAX YOU PAY. SO, IT’S REALLY IMPORTANT THAT YOU SPEAK TO YOUR ACCOUNTANT AND MAKE SURE THAT THIS IS A GOOD TIME FOR YOU TO SELL.” – LAURA PARSONS, BMO FINANCIAL GROUP

“Are you going to have penalties? Are you losing a great [interest] rate? Because sometimes you can port your mortgage if you plan on buying another investment property,” she said.

 

There are also ways to try and maximize the selling price for your property and determine when to sell.

Parsons recommends talking to your REALTOR® to see what the local market is like for the type of property you own, and to get an idea of vacancy rates if it’s a rental property.

 

Find out what’s going on in the neighbourhood, such as plans for improved transit or construction of a leisure facility that might appeal to buyers.

 

“Any time you go to sell, make sure you’re sharing a lot of the knowledge, because it will be more desirable from a buyer’s point of view,” said Parsons.

 

If the property needs fixing up, Parsons recommends highlighting the availability of the Purchase Plus Improvements program that allows a buyer to finance some renovations into a mortgage.

 

“Position it with your Realtor and your banker to do what’s called mortgage staging, where we actually show people coming in to buy the house that they can build the renovations right into the purchase,” she said.

 

Parsons’ final piece of advice is to talk to the experts – your financial adviser, accountant, lawyer and Realtor – before any sale.

 

“Everything matters, especially with investment properties,” she said. “You really want to make a great decision.”

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Brett Murrell, Realtor Real Estate Agent serving Calgary, Okotoks, Cochrane & areas

Moving with pets Okotoks

How to make moving easier on your four-legged family members

 

For Erika Lagyjanszki, a 25-year-old wedding photographer, moving out of her basement apartment was a stressful ordeal for both her and her pets.

Finding a new rental that would allow her two dogs – Bailey, a four-year-old husky border collie cross, and Diesel, a two-year-old shepherd husky cross – while trying to time the logistics of the move added to her exasperation.

And, while Lagyjanszki had moved before and knew what to expect, she wasn’t prepared for the affect the experience had on her pets.

 

“They did not do well with the move at all,” she said. “We had to stay at a friend’s house for a month in between moving and the dogs kept getting into fights. That had never happened before, and it got to the point where I had to get in between them. I’d also come back after a day at work and the place would be trashed.”

Moving is a very stressful event, as any homeowner or renter can attest. But, what we don’t often think about is the effect it has on our furry friends. Both cats and dogs can suffer stress when their world is suddenly changed.

“Moving can be stressful for pets because their whole routine is being uprooted, and you can’t explain to them what’s going on,” said Ashley Barton, certified trainer and general manager of Chasin’ Tails Dog Care Center and boarding facility in Calgary. “Pets rely on the regular flow of their everyday, so now when all their belongings are being packed up and moved somewhere else, it can be extremely stressful on them.”


Boarding can help

When you move, the front doors are usually propped open, and the last thing you need to worry about is your pet escaping while you are packing everything into the truck.

That’s why Barton says sending your pooch or kitty to pet daycare, or boarding them for a couple of days while you move can help with the transition.

“Boarding your pet while you move is a great idea to relieve stress for not only your pet, but for you as well,” she said. “When your pet is used to going to a boarding facility, or staying with a friend, it’s still a regular event for them to go to the sitter. They can be happy on their pet vacation, and you don’t have to stress about them being around for the big day.”


WHEN YOUR PET IS USED TO GOING TO A BOARDING FACILITY, OR STAYING WITH A FRIEND, IT’S STILL A REGULAR EVENT FOR THEM TO GO TO THE SITTER. THEY CAN BE HAPPY ON THEIR PET VACATION, AND YOU DON’T HAVE TO STRESS ABOUT THEM BEING AROUND FOR THE BIG DAY.


For dogs, a doggy daycare is like one big play date for your pooch – one that leaves them tired at the end of the day, which is ideal when you’re introducing them to a new space.

“Moving is taxing on you as much as it is on your dog, so knowing that you are bringing a happy, tired dog into the new home can help lessen anxiety or unwanted behaviours in the new house,” said Barton.

For cats, a vet clinic or friend’s house is ideal, so that when they are brought to the new home they can settle into their new environment without all the commotion typical of a move. Leaving a few moving boxes around will give your feline friend a place to take shelter.


Signs of Stress

While our pets can’t tell us if they are stressed in words, they do give us signs to relay the message that they are feeling anxious, says Tyson Hainsworth, master dog trainer at Dog Squad in Calgary.

Hainsworth says some signs to look for in dogs include panting, whining and drooling. For cats, a lack of appetite can be a sign that your pet may be stressed.

What to do

Dogs present a special case. Hainsworth says if a dog knows he doesn’t need to be the protector of the pack, he will be pretty calm anywhere you take him.

How to show him you’re the top dog? Only give him attention on your terms, says Hainsworth. “Don’t give Fido attention when he demands it through things like pawing, jumping, barking, nipping, etc.”

In addition, Hainsworth also says to teach the dog that you are the leader on walks.

“When it comes to the new neighbourhood, if your dog will walk a half step behind you (on the right), they respect you as the leader and will see that you keep them safe from any new threats in the neighbourhood. It sets everything in motion and gives you the chance for a blank slate at the new residence.”

And once you’re all settled in, make sure to create a safe space for your cat or dog, adds Barton.

“When you bring them into the new house, make sure you have their new area set up with their bedding, so they can begin to feel more comfortable with their familiar scents faster.”

 

Article Courtesy of CREB

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