principal residence
Where you live
Principal residence is the home where someone actually lives most of the time, as distinguished from vacation homes, rental properties, or investment real estate.
The term appears most often in tax and legal contexts, where it determines eligibility for certain exemptions or deductions: You can exclude capital gains on the sale of your principal residence.
Also called primary residence.
- homeOne's personal residence
- home baseCentral point of operations
- family homeResidence shared by kin
- dwellingPlace of residence
- domicilePermanent legal residence
legal domicile · homestead · primary · abode · mortgage · property · property tax · deed · title · ownership · hearth · front door · roof · roof over head · address · family · household · tax
- Canadian taxesT1, T4, GST, PST, CPP
- Capital Gainscapital gains, capital loss, taxable gains, stock sale, property sale
- estate taxesestate tax, inheritance tax, death tax, death duty, death duties
principal residencevacation home
Dwelling for leisure travel
second home · holiday home · weekend house · summer house · summer home
principal residenceinvestment property
Real estate bought for income
rental property · income property · commercial property · business property
principal residencetemporary housing
Non-permanent place to live
hotel · motel · short-term rental · Airbnb · hostel
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