Real Insight: Investing In Yourself
Owning your own home is one the key determinants of economic and social well being
Owning a home is a sound long-term investment financially and emotionally, from building your wealth to giving you a sense of community. If your home investment is your principle residence, price gains are exempt from capital gains tax. Furthermore, it can also be part of your retirement investment and help grow your nest egg.
Homeownership and housing affordability are two of the key determinants of economic and social wellbeing.
Stable housing provides a foundation for parents’ employment stability and income, children’s educational attainment and a family’s health and civic engagement. Access to homeownership can help families build equity over time, which allows them to save for future life investment goals such as education, health, etc.
And owning your home goes beyond your front door — it means contributing to and becoming part of a vibrant community. TREB supports more than 60 shelter-based initiatives throughout the GTA through contributions and fundraising events. In fact, TREB members recently volunteered and raised $150,000 to help build a new home for a local family at Habitat for Humanity GTA’s build at 140 Pinery Trail in Scarborough.
Your home is also an emotional investment; it provides you with the backdrop for all of life’s most important events, where you gather with friends and family to make lasting memories.
Homeownership is one of the largest financial decisions you will make and, in today’s market, homebuyers and sellers need an advantage. Look to a TREB member realtor, who will use their expertise and knowledge to provide the edge you need while moving through the buying or selling process.
Tim Syrianos is president of the Toronto Real Estate Board, a professional association that represents 48,000 professional realtor members in the Greater Toronto Area. You can contact him at TREBpres@trebnet.com. For updates on the real estate market, visit TREBhome.com. If commercial property is what interests you, contact a TREB realtor by visiting TREBcommercial.com.