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Hidden Costs in Home Buying
When purchasing a new build, it's essential to carefully consider all aspects to ensure a smooth and satisfactory home-buying experience. Here are the top 9 things that people often forget to consider when buying a new build:
The Underused Housing Tax (Revised)
UHT is primarily a tax targeting vacant or underused properties not owned by Canadian citizens or permanent residents. However, many Canadian entities, including individuals, corporations, partnerships, and trustees with ownership of residential real estate, must also consider this tax. Beginning in 2022, if you manage properties within Canada, you must determine whether a UHT return is required. The tax is calculated at 1% of the residential property's value, considering the higher of its last sale price or property tax assessment value.
Just because you file a UHT return doesn't mean you'll necessarily owe more tax. Many exemptions and scenarios result in zero balances upon filing.
The Underused Housing Tax
UHT is primarily a tax targeting vacant or underused properties not owned by Canadian citizens or permanent residents. However, many Canadian entities, including individuals, corporations, partnerships, and trustees with ownership of residential real estate, must also consider this tax. Beginning in 2022, if you manage properties within Canada, you must determine whether a UHT return is required. The tax is calculated at 1% of the residential property's value, considering the higher of its last sale price or property tax assessment value.
Just because you file a UHT return doesn't mean you'll necessarily owe more tax. Many exemptions and scenarios result in zero balances upon filing.
GET YOUR KEYS AND SAVE $17,500
The Métis First Time Home Buyers' Program is here to make it happen, with incredible savings of up to $17,500 towards your dream home! Yes, you read that right – this terrific grant provides $15,000 towards your down payment and an additional $2,500 to cover home purchase closing costs, all bundled into one fantastic opportunity!
Unlocking your Métis Identity
For individuals with Métis ancestry in Saskatchewan, obtaining a Métis card is a significant step in reclaiming and celebrating their cultural heritage. The Métis card officially recognizes Métis identity and opens doors to various benefits and opportunities within the Métis Nation. If you're keen on embracing your Métis heritage and obtaining your Métis card, follow this guide to navigate the process in Saskatchewan.
Guess who’s joining the Morrison ‘87 team?
Most people know him from the race track scene in Saskatoon, but he is looking to bring his competitive & winning mentality to a new
Building Your Dreams: The Journey of Building a Custom Home
Building a home is an exhilarating process that offers the opportunity to own a brand-new, modern residence tailored to your preferences. From envisioning your dream home to receiving the keys, each step of the journey brings you closer to a place you can truly call your own.
9 Crucial Considerations When Buying a Newly Built Home
When purchasing a new build, it's essential to carefully consider all aspects to ensure a smooth and satisfactory home-buying experience. Here are the top 9 things that people often forget to consider when buying a new build:
Buying a New Build vs. an Existing Home
When purchasing a home, buyers are often presented with two primary options: buying a new build or an existing one. Both choices have unique advantages and considerations, and understanding their key differences can help prospective homeowners make an informed decision that aligns with their preferences and needs.
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