If you are a first-time buyer, you are eligible for tax credits for costs associated with buying your first home. Items like legal fees, land transfer tax, and other costs associated with buying your home are open for a claim on your income taxes the following year. Keep those receipts! CesiaCesia is a real estate… Continue reading Getting credit
Tag: taxes
10 Closing Costs When Buying a Home
Article courtesy of Genworth Canada. Land transfer tax. When a home changes hands, many provinces and a few municipalities charge a property transfer tax or title transfer fee. Rates are usually on a scale of 0.5% to 2% of the home’s value and can add thousands to your purchase price. First-time homebuyers qualify for rebates… Continue reading 10 Closing Costs When Buying a Home