Welcome to EXIT REALTY FIRST NORTH, Brokerage your source for Barrie Real Estate. Buying or Selling a home this year? You may want to consider it before July 1st. Call me today for more information. Starting July 1, 2010, Ontarians will have to pay a harmonized sales tax (HST) rate of 13% on a long list of goods and services that were previously exempt from the 8% provincial sales tax (PST). While the impact of the tax will be felt by all Ontarians, the province's three million homeowners, and the thousands who buy and sell a home every year, will be hit particularly hard by this latest tax grab.
After July 1, 2010, every residential real estate transaction in Ontario will face a significant tax increase. Specifically, home buyers and sellers can expect to pay 8% more on legal fees, appraisals, real estate commissions, condo fees, home inspection fees, and moving costs.
If you are planning on buying or selling a home in the next few months, you may want to consider it now. This couldn’t be a better time with low mortgage rates and high inventory and before the government implements the extra 8% tax. It’s possible you will see fewer homes for sale after July 1st because many people will think twice about having to pay another 8% on services.
Call or email me today if you are considering a move in the near future and want to save your money! Lori 705-718-3885 or lamarshall@sympatico.ca
If you or anyone you know is planning on selling your home, please look at this video first.
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