Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

Should I sell my Erindale home or leave it to my kids?

Selling your Erindale home now gives you usable equity for retirement or care costs today, while leaving it to your kids gives them the house later at its stepped-up value under Canada Revenue Agency's deemed disposition rule, so the real question is whether your family needs the money now or the property later.

Adult children who inherit a house they did not ask to manage often end up selling it themselves within 12 to 24 months anyway, once co-ownership, upkeep and disagreements among siblings make holding onto it more trouble than it is worth.

Keeping the Erindale home also means keeping the maintenance, insurance and City of Saskatoon property tax bill in the meantime, costs that come out of your own budget now for a benefit your kids only receive after you are gone.

If the family genuinely wants to keep the property for reasons beyond money, that is a legitimate choice, but it should be made with a clear number for what the house is actually worth, not a guess. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

Still have a question?

Ask Joel directly. No form, no obligation, and a real answer even when the answer is that now is not the time to sell.