With the new proposed Harminized Sales Tax looming around the corner, now is the perfect time to buy a home. Especially for those who currently rent and need a home to call their own. It is a great time to get in the market. According to the Toronto Sun, after July, 1 2010 the rate of many goods and services will be raised by 8%. This includes the services involved in buying a home, such as Legal Services and Home Inspection fees. Many necessities are exempt from the new tax because they are necessities, but if a roof over your head is not necessary I'm not sure what is.
So, if you are looking to take the plunge and own your home instead of renting then trying to fulfill this goal before the middle of next year is the best way to do it. You can save hundreds or possibly thousands of dollars now because HST is not in place yet. Let more of your hard earned money go to your children, your retirement or a great vacation!