By Joe Samson, Calgary REALTOR ®
If you are planning to sell your house this spring, and are disheartened by the amount of brand new homes for sale in your area, take heart! It seems the Government slide off more of our bucks than we probably realize, but at least one of these taxes could work in your favor.
A new report that has been commissioned by combined builder and broker mortgage associations has been be-wailing one big disadvantage when buying a new home. The Canadian Government will levy GST on a new home, whereas re-sale homes are exempt.
On an average house price this can add an extra $20,000 into the outlay. This is $20,000 that is not included in the asking price, it is an add on. Since the GST was introduced in 1991, house prices…
by Joe Samson
The annual winter lull in the real estate market means that the time is good for prospective buyers who like to take their time. With Canadian unemployment at a 33 year low, the real estate market looks like holding strong despite the U.S. housing crisis.
It is difficult for many of us Canadians to accept that while the U.S. real estate market may be floundering, the Canadian market is steady. In fact, due to the strength of our dollar and the weakness of the U.S. dollar against International currencies, many Americans are actually buying into Canada to preserve their funds, hence further driving up prices by increasing the demand for houses.
While coastal and lake areas would seem an obvious choice for American speculation, many…
