I bought a new built up 99 year condo and made a fundamental mistake by adding my wife name in it. Now that I want to buy another property but I am limited with the loan. 2nd housing loan ltv 45%. Cash down payment 25%. Decoupling will have to wait for two years and probably wouldn’t be worthwhile (with current regulations). So my take for anyone buying their first private property is if you can afford one by yourself and have plans for another one, don’t add your partner’s name in it.
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Sip a drink everytime he says “right” 😂
I bought a new built up 99 year condo and made a fundamental mistake by adding my wife name in it. Now that I want to buy another property but I am limited with the loan. 2nd housing loan ltv 45%. Cash down payment 25%. Decoupling will have to wait for two years and probably wouldn’t be worthwhile (with current regulations). So my take for anyone buying their first private property is if you can afford one by yourself and have plans for another one, don’t add your partner’s name in it.