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Updated almost 9 years ago on . Most recent reply

Account Closed
  • Investor
  • Ontario
5
Votes |
14
Posts

Buying To House Hack Through A Corporation (Canada)?

Account Closed
  • Investor
  • Ontario
Posted

I am looking to buy my first property. I am new to the game and have a lot of research to do before I get there, but anyway...

I want to buy the property through my new corporation but I don't have a 20% down payment. But I could make 5% happen. I am not looking to quit my current job or anything else, I currently live alone rent free and would be able to take on payments myself with my income as I also have no debt whatsoever. This will be relatively low risk to an investor (and myself). I want to borrow through the corporation with a personal guarantee from myself to begin building credit for the corporation so I can grow my business in the future. Furthermore, If I'm not mistaken, by keeping the earnings within the corporation to reinvest I will also be saving on taxes until I pay myself. The big question is, can I somehow buy to 'house hack' (making the property my primary residence) through my corporation?

I would be looking for a residential duplex in this case.

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