Archive for April, 2011
Home Ownership: Benefits Vs. Risks
Sure, it’s tough to pull the trigger and buy a home, especially as a first-time buyer. The big hit of covering both a down payment and closing costs is enough to scare any prospective buyer into staying a renter. When you combine the fact that you’ll be responsible for any fixes the house needs and that it’s pretty difficult to just pick up and move, owning your own home gets more frightening by the minute. But fear not, the advantages of owning a home far outweigh the risks. So if you’re already looking for a home, continue to do so. If you’re a renter, it’s time to reconsider.
Benefits:
Related posts
New Harmonized Sales Tax – Critical Considerations by BC Renters
A simple and straightforward response to this question is this – the tax has no DIRECT impact on rental rates in Vancouver, Chilliwack and other major cities in the Province. This means that your landlord will and cannot levy the 12-percent HST on rental rates. In short, what you pay for a rental home or condo unit will not carry this tax payment; what you see is what you get.
Now, does this mean that BC renters will not have any concern with this new harmonized sales tax? In reality, BC home or condo renters will ultimately have to account for an upward shift in rental rates with the HST implementation. The message from tax advisors and real estate experts is clear – this 12-percent tax will have an indirect impact on home and condo renters. In fact, this new tax policy will affect rental rates of commercial properties as well.
Tags: condo units, critical considerations, federal gst, harmonized sales, hst implementation, indirect impact, provincial sales, straightforward response, upward shift, well homeRelated posts