Avoid this Common Mistake When Purchasing Your First Home
Avoid this Common Mistake When Purchasing Your First Home
750.1K viewsApr 10, 2023
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Kevin O'Leary on Instagram: "You’ve been dating six months and it’s getting serious, now they want to move in? Don’t. Unless you’re getting married and building a life together, combining finances and living space is a mistake. Trust me: buying a home with someone you're not married to is financial suicide. #marriage #advice #relationships"
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Kevin O'Leary on Instagram: "Look, I’ve seen this work in Canada, Europe, even Switzerland. No capital gains tax on your primary home means young families can grow without getting punished. Want people to take on mortgages and build wealth? Don’t tax them to death when they trade up. It’s common sense."
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Kevin O'Leary on Instagram: "My advice to anybody is to make sure that you do not pay more than a third of your after-tax income towards a mortgage, or you're gonna get yourself in trouble. You may have to downsize your house a little bit to abide by that rule, but if you're paying more than a third of your after-tax-free income to service your mortgage, you're putting yourself in a very risky position. You have to live in addition to maintain the home. There's taxes, there's monthly maintenance
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