More Reading
Canada’s national housing agency, the Canada Mortgage and Housing Corporation (CMHC), was established as a government-owned corporation in 1946 to address the country’s post-war housing shortage. The CMHC offers a wealth of information to home buyers and homeowners. See below for a selection of More Reading that we think you will find especially helpful.
- Home Ownership Step by Step
http://cmhc.ca/en/co/buho/hostst/index.cfm - Understanding Your Sales Contract
http://cmhc.ca/en/co/buho/buho_004.cfm - Hiring a Home Inspector
http://cmhc.ca/en/co/buho/buho_001.cfm - Selecting a New Home Builder
http://cmhc.ca/en/co/renoho/refash/refash_020.cfm - Condominium Buyers Guide
https://www03.cmhc-schl.gc.ca/b2c/b2c/init.do?language=en&shop=Z01EN&areaID=0000000001&productID=00000000010000000003 - Mortgage Loan Insurance
http://www.cmhc-schl.gc.ca/en/hoficlincl/moloin/index.cfm - Housing for Newcomers to Canada
http://cmhc.ca/newcomers/english/buying.html - Basic Information on H.S.T. for Residential Real Estate
http://www.bcrealestatelawyers.com/hst/basicinformationhst.htm
The Canadian government made changes early in 2009 allowing first-time buyers to claim up to $750 in closing costs when buying their first home. They also increased the amount you can withdraw tax-free from your RSP to $25,000 towards your downpayment. These funds will still need to be repaid to the RSP over 15 years or taxes will be charged.
Link to latest information on tax refunds, RSP downpayment program: http://www.cmhc-schl.gc.ca/en/co/buho/buho_008.cfm
