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

Should I sell the family house or leave it to my kids?

Selling now lets you use Canada's principal residence exemption to keep the full gain tax-free and access equity while you can still enjoy it, while leaving the house to your kids passes it at a stepped-up value under Canada Revenue Agency's deemed disposition rule, so neither path forces immediate tax, only a different set of tradeoffs.

Keeping the house for your kids means they inherit at its value on your date of death, not what you originally paid, so they generally owe nothing on the growth that happened while you owned it.

What it does not solve is liquidity. You cannot spend equity that is sitting in a house you have given away, and adult children who inherit a property they did not ask to manage often end up selling it themselves within 12 to 24 months anyway.

The decision usually comes down to whether you need the money now to fund retirement, health costs or a smaller home, versus whether the family genuinely wants to keep the property. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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