Hello mortgage experts! What is the best 5 yr variable rate I can get now? What about for refinance? I spoke to a mortgage agent, he told me the best he can do is 3.75%. What are you seeing this these? I am in Ontario. I would appreciate any tips you can provide or what I should look out for. Thanks!
Calling all real estate lawyers! Please help me understand the new HST rebate for all buyers. I am deciding to purchase a pre con primary resident (not a first time buyer), buying it with a family member who is a first time buyer. The builder listing price is $1.3M HST not excluded, but I assume the previous $24k is included.
I am trying to get a rough estimate for budgeting purposes. Spoke to a lawyer who was confused himself. WIU the calculation be the following?
1.3M + 24k %1.13 = 171,681 - 130,000 = 41,681
Total property price with rebate = 1.3m + 41,681 =1,341,681
I am a non-first time buyers, looking to purchase a pre-con that is around $1.1M. I am confused about the rebate, it says that rebate is $130k max for properties valuing up to 1M, then between 1.1-1.5M, they is a scale.
I was told by the builder’s assistant that the initial $24K tax rebate applied to first time homes would be added back and then the 13% would be applied. I am trying to budget and understand my financial obligations before I sign up, but I am getting confused.
Would my rebate calculation be:
Base home price $1.1M
Rebate calculation: 1.1M+$24K%1.13%? That’s $98,345 not $130K
What am I doing wrong? Thank you for helping me understand
I am a non-first time buyers, looking to purchase a pre-con that is around $1.1M. I am confused about the rebate, it says that rebate is $130k max for properties valuing up to 1M, then between 1.1-1.5M, they is a scale.
I was told by the builder’s assistant that the initial $24K tax rebate applied to first time homes would be added back and then the 13% would be applied. I am trying to budget and understand my financial obligations before I sign up, but I am getting confused.
Would my rebate calculation be:
Base home price $1.1M
Rebate calculation: 1.1M+$24K%1.13%? That’s $98,345 not $130K
What am I doing wrong? Thank you for helping me understand
I am currently deciding between a pre-con detached from either Richcraft or Claridge Riverside or Findlay creek (44/45 ft lots) and would love to hear from homeowners who have firsthand experience with either builder.
Richcraft doesn’t show HST rebate credit amount for non-first time buyers but Claridge does.
Your experience on:
- Build quality and workmanship
- Upgrade pricing and value (ROI)
- Floor plan functionality and design
- Customer service after closing
If you have owned or currently own a Richcraft or Claridge home, would you buy from the same builder again? Why or why not?
For those who compared both builders before buying, what ultimately made your decision? Any insights, lessons learned, regrets or recommendations would be greatly appreciated.
This is a major purchase and your experiences will help me make a more informed decision. Thank you!
Hi everyone,
I am looking for home insurance. Who are you with for your home? I am also looking for insurance for tenant occupied properties. I have one property with Allstate (primary home) and another with Belair Direct (auto and tenant occupied). Price have gone up. Which company would you recommend? Thanks
Hello everyone,
I am in the market to buy a detached home for the family. Whatever we purchase, plan to live there for at least 15+ years. We don’t have kids, mostly drive and occasionally take OC transport/ park and ride access is good. We are currently renting in Barrhaven. We have elderly parents living with us so we need a main floor bedroom/ office turned bedroom and a 3 piece bath. We like a bit of space in backyard.
Barrhaven - I have done some research. Looks like more detached homes going on sale at Half moon bay side of Barrhaven, I also find that area is congested and homes built close together. I like the Tamarack builder model but should I avoid half moon bay?
Older parts have homes on sale but they are 15+ years old. I wonder how much work I would need to put into if we plan to live there long. Bus services are good. Thoughts?
Riverside South- love the area! It’s growing, LRT is already there. Pre-construction builders are high end and quite expensive, not sure if it’s worth getting a small home just to live in that neighborhood. I don’t not find much resale in the market now
Finely Creek - unfamiliar with the area, only been there handful of times. Should I look into it? How is this neighborhood?
Thank you all for your input!
I am considering buying Richcraft’s Westbrook model in Riverside South. Those who bought either Richcraft recently, how was your experience from start to finish? Design center , cost of upgrades, post closing fixes experience. Would you recommend them?
How is Riverside South area? I take bus to work, is bus service reasonable?
Hello everyone, my family is on the market to buy a detached home in Ottawa. We are looking to buy in Riverside South or Barrhaven (some areas to avoid like half moon). We are looking for 4-5 beds and 3.4 baths, a growing family of 6.
I have been monitoring the realtor.ca website. Not much resale homes in riverside South. More homes are on market on Barrhaven side - newer homes in half moon and older homes in older areas many seem to be overpriced for what it is. I have not submitted any offers year. We are still checking numbers. Not on a rush to buy but if anything good I find will buy.
Given the pre-con rebate, looks like million $ homes would end of costs $50-60k less. Those with experience and know of the market, is to a good time to buy or should I wait to see how home price shifts with economy. What makes. More sense to buy resale or pre-con? Thank you
Hi all, we have been looking into detached family homes. Saw one in Stonebridge, Barrhaven, it’s about 18-19 years old, originally condition and owners, no upgrades or replacement have been done to hvac, roof etc. I was told they are serviced yearly, no issues. We really like the layout and works for the family. It’s backing to green space which is a bonus. It is priced over $1.2M. Looks like the seller has been trying to sell since last year and reduced the price from 1.34m to the current price. We just saw it a few days back. This time around this property has been on market for 2 weeks. Last night we found out that they received an offer. We are keep talking about this property though we understand it is priced over market with no upgrades. There will be expenses in medium term (roof, upgrading bathrooms, hvac system, kitchen etc). Should we still put an offer in? But may be for 1.1m given the work needs to be done? It’s on a nice 50 feet lot. Please advise what would you have done? Ps, we have a realtor but we want to get your opinion. Thank you.
Hi All, I am getting a new mortgage in Ontario. Refinancing my current home (mortgage free), taking the 80% out to pay full amount as downpayment on the new property (family expanded so need larger home). Will rent out the current home, it will break even. The new mortgage will be between $650k-$700k. Spoke with 2 mortgage brokers. One gave me 3.75% variable for 5 years with $3k cash back; another said 3.75% no cash back. Are these good rates? What are you getting these days? Should I do variable or fixed? The economy is unrest, so I don’t know what to choose. Any word of advice would be appreciated