Rent Real EstateCanadians Welcome New Edition of "Have Your Home and Money Too"
Canadians who have traditionally accepted the "house-rich, cash-poor"
view of housing as inevitable are thrilled to learn there are many ways
to "have your home and money too." The second edition of Have Your
Home and Money Too: The Canadian Guide to Home Equity Management,
Reverse Mortgages, and Other Innovative Housing Options contains a
wealth of income-generating, tax-saving, equity-building suggestions for
Canadians at all stages of home ownership.
Home-based businesses are an ideal way to "have your home and money
too". Two sections in the book, "Is a Home-Based Business Right for
You?" and "Designing a Home-based Business to Fit," emphasize the
importance of finding the right home-based business for you and your
goals.
Luke and Sandy Andrews are a good example of how exhilarating a good
"fit" can be.
Four years ago, the Andrews looked for a country home that could double
as a home-based business. They wanted to build a business that would
allow them to stay home but would be substantial enough to support them
financially -- now and into retirement.
"When we went looking for a property, we knew it had to be on the main
road," said Luke, stressing how vital the right location was to their
idea. "The highway is loud but 99% of our business is from the highway."
The original plan had been to find a property with a large barn so that
Luke could open a metal sculpting studio and with acreage so that Sandy
could start a tree nursery. They found the ideal home on a secondary
highway about 40 minutes north of Toronto.
Quite by accident, they discovered Luke could carve amazing cedar
statutes and a new business was born.
"We can"t keep up," said Luke. "We want to keep the statues and totems
affordable to everyone and everyone likes them."
Carving seems to be a family talent. Luke, who has 5 brothers and 6
sisters, is already recruiting them as new carvers and business
partners. One brother retired from a high-stress job to join the Andrews
Nursery.
But the benefits go beyond personal satisfaction and rich relationships,
home-based business offers great financial advantages. Doing your
homework before you begin can sweeten the pot even further.
"We get (income) tax deductions and other advantages," said Luke
emphasizing that what you keep is more important than what you make.
"The nursery gets taxed at only 25% of the property taxes because it is
considered a farm."
Change your thinking to accept "have your home and money too"
alternatives and your home may finance your "impossible dream."
Remember, the impossible just takes a little longer - sometimes.
For more on: Have Your Home and Money Too - Visit: http://www.TheCatalyst.com and Andrews Nursery, Brooklin, Ontario
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