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Rebate Blog

Don’t let your emotions interfere in a bidding war

It’s a tough housing market out there for Canadians looking to put down money on their first home or any home really. With the average price of a home climbing to $409,708 in April, which is 7.6 per cent higher than it was this time last year, according to the Canada Real Estate Association, it’s […]

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Busy spring and summer housing market expected

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 […]

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How much are first-time homebuyers willing to spend?

#187856790 / gettyimages.com With prices in Canada’s housing market continuously climbing with no end in sight, it’s a hard market to break into for first-time homebuyers. It’s no wonder that the average budget for a hopeful first-time homeowner has increased to $316,000, which is up $16,000 from the average budget last year, according to BMO’s […]

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Don’t be caught off guard by closing costs

You’ve visited dozens of houses and you’ve finally settled on one that you want to put an offer on. It’s a nerve wracking process waiting to see whether the seller accepts your offer and if they do, congratulations you’re now a homeowner! But if there’s one thing you don’t want to be caught unawares is […]

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CMHC tightens mortgage regulations once again

#123140292 / gettyimages.com The Canada Mortgage Housing Corporation recently announced more changes to tighten mortgage lending that will come into effect on May 30. Home buyers looking to purchase a second home will no longer be able to access mortgage insurance, which means you’d need to have a 20 per cent downpayment to purchase the […]

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What green renovations can save you money instantly?

Owning a home is a pricey investment for any homeowner. While HST rebates are one way to get some savings back, if you’ve bought a newly built house or substantially renovated your home, green renovations are a great way to save on housing costs. They can also improve your resale value in the long run. […]

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Do I Qualify For the HST New Housing Rebate?

The Ontario New Home HST Rebate allows home buyers to recover a part of HST that was paid on either a new home or a home that was substantially renovated. The regulations for claiming the HST tax are defined by CRA (Canada Revenue Agency). While not every homebuyer is eligible for the Ontario New Housing […]

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How Much Can You Actually Get With a GST HST New Housing Rebate?

In Ontario, the GST HST New Housing Rebate is claimable for either principal residences or investment properties. Depending on the property (and the specific circumstances) the HST New Housing Rebate could total as much as $30,000. To be eligible, claimants must qualify under either of these conditions: Having purchased a newly built home in the […]

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