Immigration Journal

The story of two people who emigrated from the UK to Ontario, Canada July 2006.

Hope on the horizon!

Yesterday we saw a couple more properties, but none we were prepared to buy. We then went back to our second choice from last week and decided to put in an offer for that one.


It is al lovely four bed property on 2 acres, just north of Belleville. The main level is fantastically finished with wooden floors, great kitchen, fab living room and dining room. However, the basement needs finishing as although the occupiers are obviously using it as a family room, it needs a ceiling, flooring and some other finishing touches. We would also want to put a third bathroom down there with the existing bedroom so any guests we have stying have their own area to themselves.


So we are putting in an offer this morning for considerably lower than the asking price to take into account the money we will have to spend doing it up. Apparently the owners have an offer on another property subject to them selling their house, so we may be in a good position. If it falls through, then it was meant to be!


Taxes taxes taxes

That basement is left unfinished for a reason you know. Soon as you finish it the taxman will reasses your property as having twice the finished livable spacem and your property evaluation (and therefor taxes) will double.


Posted by iaink

Taxes

We were aware of this tax issue. All the rooms in the property are being lived in and three of the rooms are completed. The other two are completed other than finishing of some ceiling work and carpet or flooring, so nothing too major. The tax apprasal has just been done and the livable condition of the basement has already been taken into account, so we hopefully will not see any major increases in the future.
Even if we do, taxes are taxes and we all end up paying them wherever we live (or die). We would rather be paying them in Canada than the UK! They are also still cheaper than our current council tax.
Posted by Canada Jane

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