Lack of land transfer tax makes homes more affordable in two provinces RealEstate Homes FirstTimeHomebuyers
Additional closing costs like the land title registry and mortgage registration — about a few hundred dollars each — and legal fees — about $1,500 to $2,000 — are relatively similar across the nation and do not have much impact on buyers, Mitchell says.Article content
“When people move into new homes, they spend an average of about $40,000 more” on renovations and furniture, Mitchell says. With buyers paying thousands of dollars in taxes on a home purchase, they inevitably have less to spend on these items.“It’s billions of dollars in revenue in British Columbia or Ontario,” he says.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Here comes Newsom: Governor roasts UCLA for lack of transparency in Big Ten move, vows regental actionThe Bruins are scheduled to join USC in the Big Ten in 2024
Read more »
City initiative prompts question: What’s the point of affordable housing if it’s not affordable in perpetuity?Many are concerned that Houston has designed an affordable housing program that spends tens of millions of public dollars but makes no requirement that homes stay affordable for future buyers.
Read more »
Homeowners who locked in low mortgage rates have one reason to 'celebrate' right now, economist says. Here's why.Homeowners who locked in low mortgage rates have one reason to ‘celebrate’ right now, economist says. Here’s why.
Read more »
Signs point to a more buyer-friendly housing marketRecord home prices and higher mortgage rates made May the most expensive month to buy a home since 2006, according to the National Association of Realtors' Housing-Affordability Index.
Read more »
Signs point to a more buyer-friendly housing marketRecord home prices and higher mortgage rates made May the most expensive month to buy a home since 2006, according to the National Association of Realtors' Housing-Affordability Index.
Read more »
Signs point to a more buyer-friendly housing marketRecord home prices and higher mortgage rates made May the most expensive month to buy a home since 2006, according to the National Association of Realtors' Housing-Affordability Index.
Read more »