What does principal residence mean?

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As per the Canada Revenue Agency (CRA): Your principal residence can be any of the following types of housing units:

• a house
• a cottage
• a condominium
• an apartment in an apartment building
• an apartment in a duplex
• a trailer, mobile home, or houseboat

A property has to qualify to be a principal residence.

A principal residence is usually the residence you choose to live in.

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