If you've been debating about buying land, it is critical to factor into your decision making process that as of April 1, 2013, HST will be charged on land purchases and building materials. This can result in a significant increase in cost. If you're serious about buying, use this time to your advantage. Now may be a good time to pick your lot out and negotiate your price. You may even be able to negotiate a closing date that will allow you to only pay GST on the lot, thus saving you some money.
When you're choosing land to build on there's many factors to consider. What price range should you be in so you can afford the home you want to build? What size lot do you want? Location? Is the location good for resale? Should you buy land in a less desirable location at a low price so you can build a higher quality home or should you choose a better location at a higher price and sacrifice some of what you want in your home? A lot to think about, but our Realtors can help you weigh all of these decisions with their market expertise.
Do you have more questions about this topic? Our REALTORS are here to help you. If you would like more info on this or other real estate topics go to www.5662121.com and join us on facebook where we discuss in more detail.