Homebuyers Assistance

Do you need more information on first time home buyers programs or plans? Contact our mortgage specialist for information on first time homebuyers mortgages, mortgage insurance, and government home buying applications.

Homes and HST

A new video is released that discusses the HST in Ontario. Contact Damir for more information on Ontario HST issues before you buy or sell a home.

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Tax on Resale Homes

OREA estimates the HST will add $1,449 in new taxes to an average resale home costing $302,354. And, OREA claims the HST will add an estimated $262 million in new taxes annually to residential resale real estate transactions.

For those struggling to gather enough for a down payment, the extra thousands of dollars in tax may prevent them from actually buying a home. One of the reasons the Ontario real estate market is heating up, besides the great November weather, is the fear of having to pay $30,000 to $60,000 more for a house beginning in July. Real Estate commissions will also now be subject to the HST.

HST New Home Rebate

The Federal government offers a GST/HST New Housing Rebate program which provides a rebate on part of the GST or the federal part of the HST paid on the construction or purchase of most newly constructed or substantially renovated houses used as a primary place of residence. You can get the HST Rebate application here.

Buying Older Homes

Older homes are exempt from the HST however HST will apply to other services related to selling your home. If you're considering buying an older home, you should know about the Ontario Home Energy Savings Program and Home Energy Retrofit Program which offers rebates for certain home improvements.