The HST and You

Many clients have been asking me lately if the HST will effect their real estate transaction.  The answer is both Yes and No.

The HST legislation has been passed and is coming soon. If you have purchased a new home that is closing after July 1st, 2010 it will be subject to 13% HST based on the purchase price IF the home is over $400,000.

Some builders are adding that to the price you pay but some are not.  Be careful if you are planning on buying a brand new home this year.  Ask your builder point blank if HST has been included or you may be hit with an unpleasant surprise upon closing.


If you are planning to sell your home you need to be aware that Realtor commissions which used to only be subject to GST(5%) now need to be subject to HST(13%) IF your home closes anytime after July 1st 2010.

A home that has sold for $500,000 at 5% commission would pay $26,500(incl GST) before July 1st 2010 and $28,250(incl HST) after.


When buying a resale home you will not pay HST on the purchase price but you will need to pay HST for the lawyer, movers and home inspectors.

My advice is if you are considering a new home in that will not be built before July of this year is to contact me and I will find you a newer comparable resale home for a similar price and you will save the HST.

If you are selling your home you should take advantage of this hot market, list this spring and have it close before July 1st 2010 and save the HST on my already low commission.


I look forward to hearing from you and to answer any of your real estate questions. 

Please comment below or visit www.MarianoGigante.com for more details.