Portfolio Guidance

Owning MultipleProperties

Strategic advice for Ontario homeowners and investors with more than one property

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Portfolio Real Estate

Owning More Than One
Property in Ontario

Whether you own a cottage, rental unit, or investment portfolio, understanding the rules around buying, holding and selling multiple properties is essential to protecting your wealth.

Principal Residence Rules

Only one property per family unit can be designated the principal residence in any given year. Strategic designation across years can help minimize capital gains when selling multiple properties over time.

Land Transfer Tax

Ontario's land transfer tax applies to every purchase regardless of how many properties you own. In some municipalities additional municipal taxes apply. Factor this into your cost of acquisition.

Financing Considerations

Mortgage qualifying rules differ for second homes and investment properties. Down payment requirements are higher and lenders assess rental income differently. Working with the right mortgage broker matters.

Buying a Second Property

What to Consider Before You Buy

  • 20%+ minimum down payment for non-owner-occupied properties
  • Rental income may offset mortgage carrying costs
  • Capital gains tax applies when you eventually sell
  • Insurance, maintenance and vacancy costs must be budgeted
Selling One of Several

Strategic Timing Is Everything

  • Designate properties thoughtfully to maximize the principal residence exemption
  • Sell in a lower-income year to reduce your marginal tax rate
  • Document all capital improvements to increase your adjusted cost base
  • Consult an accountant before listing — not after closing
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