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Posts tagged ‘New Houses’

How Will The BC HST Affect Your Home Purchase In Sooke or Victoria?

The Tax Burden on New Housing

As of July 1st, 2010, the 5% GST and 7% BC PST will be replaced by a 12% Harmonized Sales Tax. How does this affect buyers of housing in British Columbia?

HST will only apply on new housing. Just like today with the GST, HST will not be applicable on previously-occupied, resale houses. I get this question all the time. Unless you’re buying a new home, or one that has been substantially renovated such that it is as-new, you will not pay HST on the sale.

Below is a table which outlines the current GST burden on new housing and the proposed HST burden on new housing after July 1, 2010. Keep in mind that often for properties priced under $450,000-$500,000 the builder includes the GST in the purchase price, and the new housing rebate is assigned to the builder. For example, it would be rare to purchase a $275,000 condo and pay GST on top, but it would not be uncommon to buy a $600,000 home and then have to pay the GST in addition to the purchase price.

BC New Housing GST HST Worksheet

Tim Ayres – Sooke Real Estate Professional

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Sooke's Sun River Estates Goes Green

Sunriver Estates Built Green™ AdAs I was browsing the Homes section of the Times Colonist from Saturday, September 15, 2007, I came across a full page ad for Sooke‘s Sun River Estates development. The homes are now being advertised as conforming to the Built Green™ standard of construction.
The Built Green™ Web site describes the standard as “… an industry driven voluntary program that promotes “green” building practices to reduce the impact that building has on the environment. It benefits the homebuyer, the community and the environment and is an opportunity for everyone to choose a “green” future.”
So what exactly are ‘green’ building practices? The Built Green™ Web site says that homes certified to their standard are made to have increased energy efficiency, comfort, water efficiency, healthier indoor air, durability and less maintenance, and global benefits (referring to easing pressure on the environment by sourcing building materials locally, thereby reducing transportation impacts). Most of the above benefits coming from using more efficient construction materials, better draft-proofing of the house, and higher-efficiency plumbing, heating, and lighting fixtures.
The house is tested prior to occupancy to make sure it conforms to the acceptable standards for gold, silver, or bronze Built Green™ levels. Upon a successful test, the home is assigned a Canada EnerGuide rating and the appropriate bronze, silver, or gold Built Green™ label is affixed to the furnace or other permanent fixture for proof to future home owners.

Contact Tim Ayres at 642-6361 or tim@sellingsooke.ca for more information about Sun River Estates.

Built Green™ Checklist

Sooke’s Sun River Estates Goes Green

Sunriver Estates Built Green™ AdAs I was browsing the Homes section of the Times Colonist from Saturday, September 15, 2007, I came across a full page ad for Sooke‘s Sun River Estates development. The homes are now being advertised as conforming to the Built Green™ standard of construction.
The Built Green™ Web site describes the standard as “… an industry driven voluntary program that promotes “green” building practices to reduce the impact that building has on the environment. It benefits the homebuyer, the community and the environment and is an opportunity for everyone to choose a “green” future.”
So what exactly are ‘green’ building practices? The Built Green™ Web site says that homes certified to their standard are made to have increased energy efficiency, comfort, water efficiency, healthier indoor air, durability and less maintenance, and global benefits (referring to easing pressure on the environment by sourcing building materials locally, thereby reducing transportation impacts). Most of the above benefits coming from using more efficient construction materials, better draft-proofing of the house, and higher-efficiency plumbing, heating, and lighting fixtures.
The house is tested prior to occupancy to make sure it conforms to the acceptable standards for gold, silver, or bronze Built Green™ levels. Upon a successful test, the home is assigned a Canada EnerGuide rating and the appropriate bronze, silver, or gold Built Green™ label is affixed to the furnace or other permanent fixture for proof to future home owners.

Contact Tim Ayres at 642-6361 or tim@sellingsooke.ca for more information about Sun River Estates.

Built Green™ Checklist