[caption id="attachment_624" align="alignleft" width="300"] (Photo credit: Ken Lund/Flickr)[/caption] Economists have murmured about Canada's housing market running into a soft or hard correction since the recession. But it doesn't seem like that's upon us yet. March's housing sales were quiet with construction on new homes seeing a steep drop, but it looks like sales and housing starts both picked up across the nation in April, according to the Globe and Mail. It's likely this was influenced by a harsh winter and a slow start to spring, says ReMax in its Spring Market Trends Report. Looking at some statistics across Canada, housing sales in Edmonton, Regina and Vancouver were up by a whopping double digits from last year. In these markets and others, house prices continued to climb, which makes it even harder for first-time buyers. Toronto's average home price is inching towards the $1 million mark as its real estate market is climbing towards astronomical heights that are seen in Vancouver. Also, the cities low rental vacancy rate is driving up the price of prime potential rental properties, which has led to the introduction of micro condos into Toronto's housing market. (A housing solution that began in Vancouver.) Out west, Winnipeg's market saw a slowdown, but it's expected to bounce back with healthy job markets and burgeoning industries, says the ReMax report. First-time homebuyers are realizing that homes are becoming more and more costly and it's no surprise that potential homeowners are upping their budgets in response to this new reality or delaying their home purchase. All in all, it'll likely be a seller's market since there remains a limited supply of homes on sale. But it may only be a matter of time before the feds step in with a new attempt to cool the market down. It's believed that the housing market remained busy during a global economic slowdown partly due to low mortgage rates, which just went below two per cent for the first time ever. Investor Group recently announced a three year, 1.99 per cent variable mortgage, which saw its original variable rate drop by 1.01 per cent. Mortgage rates are influenced by the Bank of Canada's overnight rate, which has remained at one per cent for more than 3.5 years with little sign of being increased this year. It's important to do your research and find the average cost of a home in a neighbourhood, along with saving extra money for closing costs. If you're considering the purchase of a newly built home or condo, you'll be eligible for an HST rebate which can help you save money on the cost of a home, whether it's an investment property or a place to call home.Collect the maximum HST housing rebate and ensure that the CRA wonâ€™t come knocking for its HST rebate back later by using Rebate4U. Our priority is to provide our clients with the most professional and quality service in obtaining rebates for their new and renovated homes. We are proud to offer our clients the most personal and attentive service, and we make sure that all of our clients are 100% satisfied.

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Renovations

26 March 2024

Tips to Ensure Your Renovation is Substantial Enough for the HST Rebate on New Homes

The Harmonized Sales Tax (HST) Rebate on home renovations is a significant financial incentive for homeowners in Ontario, providing a golden opportunity to recoup a portion of the expenses involved in upgrading and enhancing their living spaces. This rebate is offered via Canada Revenue Agency, and it aims to encourage property owners to invest in their homes, not just for personal satisfaction...

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Renting

13 March 2024

How to Claim the HST Rebate on Rental Properties

The HST rebate on rental properties or the New Residential Rental Property Rebate is an excellent opportunity for new condos and homeowners who are not planning on occupying the property to get some money back that was invested in the purchase of the new home. Choosing to rent a property is an effective secondary passive income. When paired with the HST Rebate in Ontario, a rental property can be...

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Renting

26 February 2024

How to Find a Tenant Ahead of Your HST Rental Rebate Application

If you’re renting out a new residential property, the HST Rebate in Ontario is a great opportunity to get back some of the money you’ve invested into purchasing the condo. Available via Canada Revenue Agency, the New Residential Rental Rebate Program can mean thousands of dollars back. To qualify for this rebate program in Ontario, you must meet the criteria set out by Canada Revenue...

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Renovations

10 February 2024

3 Stand-Out Benefits of Applying for HST Rebate on Home Renovations

Home renovations are a great way to revitalize your existing property to transform it into your dream home. Working with the best contractors you can make large-scale upgrade plans that rebuild your home from the ground up. With programs like the New Home HST Rebate in Ontario, the cost of these significant upgrades can be mitigated. By working with the experts at Rebate4U you can assess your...

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Renovations

31 January 2024

Why Turn Repairs into Renovations with the Home Renovation HST Rebate

Whether you’ve recently purchased a new home that needs a lot of work or are ready to upgrade your existing home, renovations and remodels can rack up quite the bill. But for homeowners in Ontario, the HST rebate on home renovations is a viable option that can help you get more return from your investment. Read on for more information!

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HST housing rebate

18 January 2024

Which Part of Your Home Renovations Are Subject to HST in Ontario?

Like with the transaction of any good or service in the province, there is a 13% tax (Harmonized Sales Tax) added to every purchase, including the sale properties. When buying a home, this tax can add up to a substantial amount. In Ontario, the HST Rebate program is offered to residential property buyers as a way to offset the cost of new home purchases.

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Condos

15 December 2023

What to Do When You're Not Ready to Move Into Your New Condo

If you’ve bought a new condo and want more insight into your rebate options, from the HST Rebate on new homes to the New Residential Rental Property Rebate, contact the experts at Rebate4U for more insight and personal guidance.

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Newly built homes

27 November 2023

So You Built a New Home, Now What?

If you’ve recently finished building your new property in the last two years, you may be eligible for money back with the HST rebate in Ontario. The program allows homeowners to recover a portion of their HST spent on construction.

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Rebate Blog

17 October 2023

Signs You'll Benefit from the HST Rebate in Ontario

The HST Rebate in Ontario is a valuable and beneficial program available to homeowners in Ontario. Unfortunately, many new home buyers or even long-time homeowners are unaware of the program’s existence or their eligibility. The new home HST Rebate can be nuanced, but with the guidance of an experienced, trusted, and knowledgeable professional like the team at Rebate4U,...

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29 September 2023

Benefits of Renting Your Newly Purchased Home

It’s not uncommon for property owners to purchase a new home or condo with the intention of making it their primary residence but then later change their minds to use the newly acquired or built property as a rental unit. Whether you build the home from the ground up or determine that you no longer want to use a newly purchased property from the builder as a home for yourself, there are...

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