The Hidden Cost of Land Transfer Taxes
When buying a new house never forget the land transfer tax, if you are lucky you get a rebate, but if not, this is a lot of money to suddenly realize is due. Closing time surprises are never a good thing.
Canajun Finances
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What is the Home Buyers’ Plan? Should You Pay Down Sooner?
The RRSP Home Buyers’ Plan (HBP) helps first-time Canadian homebuyers tap into their retirement savings for a down payment. Learn how the HBP works, the pros and cons of using it, and whether you should pay it back sooner to maximize your future retirement savings. Discover smart ways to navigate homeownership and avoid costly mistakes.
Canadian Housing Bubble?
Is the current housing bubble in Canada simply mass formation psychosis? Is it just a mirage? No, it is real.
The Bank of Mom and Dad
The bank of Mom and Dad is a term heard on College and University Campuses around the world, but it is also popular with working Adults too.
Ontario Land Transfer Tax: What First-Time Homebuyers Must Know
In Ontario, the Land Transfer Tax is a significant closing cost many homebuyers overlook until it’s too late. This article revisits the now-defunct Ontario Home Ownership Savings Plan and explains how it was replaced by the current Land Transfer Tax Refund for First-Time Homebuyers. While written in 2014, this guide remains valuable for understanding how Ontario’s land transfer tax system works, what first-time buyers can still claim, and the shocking fees second-time buyers face. It also highlights little-known quirks about how land transfer taxes are calculated — including surprising charges even when no money is exchanged.
