I was born in Saint John, New Brunswick, and raised in various communities such as Norton, Hampton and Sussex before moving to Alberta; where I spent the better part of my adult years and raised my family there.
No matter the years spent away from New Brunswick it always felt like home. They say the home is where the heart is and I found myself longing to go back to my roots. When an opportunity arose to move back, it made perfect sense to do so.
My journey home brought me to Sussex where I am surrounded by a loving extended family, a beautiful landscape and a welcoming community that gives me an overwhelming sense of belonging and pride.
I would love to be a small part of your story by providing you with support in finding your first place or your forever home.
Buying a residence can be a stressful experience. You will experience a roller coaster of emotions while finding the right place, securing the loan, and finally moving in. For most of us, the first time home purchase is the largest investment we’ve ever considered. The emotions of purchasing something so expensive and personal can often cloud our business judgment.
Imagine the Property Vacant
Your furnishings and decorations will be the ones filling this new residence. Don’t be swayed by beautiful furniture; it leaves with the owner.
Income + Lifestyle = Mortgage Payment
Sit down with your professional real estate agent and honestly discuss your income level and living expenses. Take into account future considerations, children, add-ons, amenities, and fix-ups. Your dream home is certainly worth a sacrifice, but don’t mortgage your entire future.
View Several Homes
See at least 7-10 properties. Don’t move too slowly, but don’t move on the first property you see. With your agent’s help, you should be able to view enough properties to get a good overall perspective of the home market. When you find the right property, all the leg work will be worth it.
Utilize Your Team
By aligning yourself with the right real estate professional, you will have an entire team at your disposal. Utilize your lender, title rep, and agent. Each of them should work hand in hand for your benefit. Explore all the options before you sign.
Be a Detective
Check out all costs and expenses before you sign, including utilities, taxes, insurance, maintenance, and home owner dues if applicable. Make sure all utilities (gas, electricity, and water) are on during your walk-through so you can inspect everything in working order. Ask lots of questions and be very detail conscious.
Do a Final Walk-through
Visit the property after all furnishings have been moved out to be sure there are no surprises. Be absolutely positive the property was left exactly as you had agreed upon in the contract. Things that could have been spotted in a final walk-through are often unintentionally overlooked.
Plan For Flexibility
Closing dates are not written in stone. Allow for contingencies and have a back-up plan. If you or the sellers need a little more time to conclude the final arrangements, don’t let these delays upset or frustrate you. These types of circumstances are not uncommon in a real estate transaction.
If It’s Not In Writing, It Doesn’t Exist
All promises and discussions should be in writing. Don’t make any assumptions or believe any assurances. Even the best intentions can be misinterpreted. Have your professional keep an ongoing log in writing of all discussions and get the seller’s written approval on all agreements.
Loyalty Breeds Loyalty
Be open, honest and up front with your team. Hard feelings and disloyalty will cause headaches, delays or may even keep you from getting into the home you worked so hard to locate. Take the time to select the right team in the beginning and your first home purchase will be a pleasing and memorable experience.
When a non-resident sells Canadian real estate, he/she is required to pay the appropriate amount of taxes on any capital gain. The normal Canadian tax rates will be applied to 50% of the gain. However, a non-resident is required to pay an estimate of the tax before the sale, an amount equal to 25% of the gain. This amount is to be retained by the seller’s lawyer until such time as a clearance certificate is received from the Canada Revenue Agency (CRA) in connection with the sale of the property. Upon payment, the CRA will issue a clearance certificate to the seller, but not until there has been a contract of purchase and sale with all subjects (conditions) removed. The wait for the certificate is usually 6-8 weeks. If the certificate is not obtained, the purchaser is required to withhold from the sale proceeds, a percentage of the selling price (usually 25-50%).
On or before the closing date, the mortgage money is transferred to the seller’s lawyer and then to the seller and the title is transferred to the buyer’s name.
The non-resident seller should file a Canadian income tax return for the year in which the sale occurs and should expect to receive a refund of a portion of the taxes paid. The taxation of Canadian real estate depends on whether the use of the property is for a principal residence, an active business or as a rental property. If it is used as a rental property, a 25% non-resident tax must be paid on the gross rent a tenant pays. However, if you use a professional property manager, the manager will, by law, withhold 25% of the gross rental revenue at source to be remitted to the Canada Revenue Agency. Then on or before March 31 of the following year, the property manager issues an NR4 form and you then have the right to file a Canadian tax return. The tax return is due before June 30 and enables you to claim expenses against that income and potentially request a refund.
Many countries, such as the U.S., have tax treaties with Canada that prevent you from being taxed in both Canada and your home country. It is advisable to contact a tax accountant in your country for more information.
When considering someone to represent the purchase or sale of your home you should consider professionals with a proven track record of results, coupled with a personal hands on approach and a strong, trusting relationship.
Sellers: If you’re ready to sell your home Samantha Stewart has the expertise and resources you need to help you sell your home faster and for more money. Combine their passion for helping you with their experience for the advantage you deserve.
Buyers: When you’re ready to buy let Samantha Stewart’s passion for helping you find the perfect property, their intimate knowledge of the area and their expert negotiating skills create the advantage you deserve.