MAN IN FRONT OF FOR SALE SIGN
The average house price in Calgary is just over 600,000 dollars which means you would have to pay around 30,000 in GST on the new home.
With the liberals promising that if they win the next federal election they will eliminate the GST on home purchases for first time homebuyers for property’s until 1 million dollars.
While the conservatives will also eliminate the GST on homes if they win the election but they will do it on all homes for everyone on homes under 1.3 Million dollars.
This will have a huge affect on mortgages after the federal election with experts saying you can pay up to 5 percent or more on a new mortgage if these new promises are kept and put into action by either party. Because of all of the demand at that point for quick new housing options.
It will all come down to if promises are kept after the election. The federal election will be held on April 28th.
Comments