Comments on: Resale Home vs. New Construction Home http://1stmilliondollar.net/2010/07/resale-home-vs-new-construction-home/ A financial journey to our first million dollar Sun, 08 May 2011 17:20:32 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: 1stmilliondollar http://1stmilliondollar.net/2010/07/resale-home-vs-new-construction-home/comment-page-1/#comment-355 1stmilliondollar Tue, 06 Jul 2010 22:47:11 +0000 http://1stmilliondollar.net/2010/07/resale-home-vs-new-construction-home/#comment-355 @SophieW: Good point. As far as I know, in Ontario, we still have to pay GST for new construction homes. However, we don't pay HST for homes with less than 400K. I could be wrong though. @SophieW: Good point. As far as I know, in Ontario, we still have to pay GST for new construction homes. However, we don’t pay HST for homes with less than 400K. I could be wrong though.

]]> By: SophieW http://1stmilliondollar.net/2010/07/resale-home-vs-new-construction-home/comment-page-1/#comment-354 SophieW Tue, 06 Jul 2010 13:12:29 +0000 http://1stmilliondollar.net/2010/07/resale-home-vs-new-construction-home/#comment-354 Another consideration you may have to make is HST. Here in Nova Scotia, where we've had the HST for several years now, you pay the tax on new construction but not on previously lived in homes. I've no idea if that's how it works in Ontario, but it could explain the cheaper price on the new house... Good luck in your search - I miss Ontario summers, humidity and all! :) Another consideration you may have to make is HST. Here in Nova Scotia, where we’ve had the HST for several years now, you pay the tax on new construction but not on previously lived in homes.

I’ve no idea if that’s how it works in Ontario, but it could explain the cheaper price on the new house…

Good luck in your search – I miss Ontario summers, humidity and all! :)

]]>