1. $9,400,000: 9344 Ardmore Dr, Victoria
2. $8,588,000:3485 Mathers Ave, West Vancouver
3. $20,000,000:2408 Halston Ct, West Vancouver
4. $16,800,000:2990 Palmerson Ave, West Vancouver
5. $10,999,000: 1069 Beach Ave, Victoria
6. $18,000,000: 525 Towner Park Road, Victoria
7. $10,900,000: 3480 Rippon Rd, Victoria
8. $10,180,000: 1393 Port Mellon Hwy, Gibsons
9. $8,900,000: 1075 Noble Road, Victoria
10. $12,800,000: 5612 Newton Wynd, Vancouver
source: MLS, Vancouver Sun
Most BC residents will reap no tax savings if they postpone buying a home until the provincial government officially eliminates the harmonized sales tax and reinstitutes a provincial sales tax (PST) on April 1.
Homebuilders are hammering away at this message in an attempt to eliminate confusion among consumers, who wrongly believe that they will save tax if they wait to buy a new home.
“Builders are frustrated with the confusion in the public,” said Bob De Wit, who is CEO of the Greater Vancouver Home Builders’ Association. “It’s a complicated issue.”
The PST transition will make the purchase of pricier homes cheaper. Cost savings on the purchases of new homes after the PST is re-instated April 1 will be limited to those priced above $850,000, said Mackay LLP director of income and commodity taxation Tom Baybutt. New homes are currently taxed the equivalent of 7 per cent – not the full 12 per cent HST – on the first $850,000. Every dollar above that threshold is taxed at 12 per cent.
After April 1, buyers of new homes will have to pay the 5 per cent goods and services tax (GST) and a 2 per cent transitional tax on the cost of their home regardless of how expensive it is. But the transitional tax kicks in only if the home’s construction is at least per cent complete. Builders of those homes are then reimbursed for the per cent PST that they will have to spend on the building materials that go into the homes.
Pre-sales and other homes that are at least per cent built after April 1 will not be subject to the transitional tax, and builders will not be eligible to apply for rebates on the per cent PST that they spend on building materials for those homes. (See infographic.)
The 2 per cent transitional tax will be phased out on March 31, 2015.
Real estate agents‘ fees for home sellers will also be lower under provincial sales tax regime. Baybutt pointed out that, after April 1, real estate commissions, which are subject to per cent HST, will be subject only to per cent GST.
The tax on legal fees, however, will not drop after April 1 because they are subject to the new PST. Condominium fees, such as move-in fees, are not taxable under either the HST or the future GST-PST system.
I’d like to share with you 19 friendly tested tips I’ve learned to show your home to its best advantage. Some of them may be helpful to you and your home.
- First Impressions are Lasting Impressions
An inviting exterior insures viewing of the interior. Keep your lawn trimmed and edged – the flowerbeds cultivated—the yard free and clear of refuse. Remove snow and ice from the walks and porch in the wintertime. Exterior siding should be washed to remove algae and environmental residue. Place a framed picture of the home, at its best, inside the front door on a table.
- Decorate Your Home—A Step Towards a Sale
Faded walls and worn woodwork reduce desire. Do not tell the prospect how the place can be made to look—show them by redecorating first. A quicker sale at a higher price will result.
- Cleanliness is Next to Godliness
Bright, cheery windows and unmarred walls will assist your sale.
- Fix That Faucet
Dripping water discolours the enamel and calls attention to faulty plumbing fixtures.
- A Day With the Carpenter
Loose doorknobs, sticking drawers, warped cabinet doors and the like are noticed by the prospect. Have them fixed.
- From Top to Bottom
The attic and basement are important features. Remove all unnecessary articles that have accumulated. Display the full value of your storage and utility spaces. For a few dollars, have an electrician install lighting in crawlspaces and storage areas.
- Obstacle Course
Prospects will have to dodge items unless all stairways are cleared of objects. Avoid cluttered appearances and possible injuries. Remove clutter and put into rental storage.
- Closet Illusions
Clothes properly hung, shoes, hats, and other articles neatly placed, will make your closets appear larger. Now is the time to get rid of old and out-of-date clothing.
- Your Most Important Room is the Kitchen
Colourful curtains in harmony with the floors and counter tops add appeal. The smell of a freshly baked loaf of bread appeals to the prospective purchasers.
- Check and Double Check Your Bathroom
Bright and clean bathrooms sell many homes. Cultured marble basins with cracks can be cut out and a conventional basin installed.
- For the Rest of Your Life
Bedrooms are always outstanding features. Arrange them neatly. Consider painting the ceilings to brighten the room.
- Love Me, Love My Dog Does Not Apply in House Selling
Keep pets out of the way—preferably out of the house. A corner where pets sleep should be removed or cleaned prior to inspection.
- Can You See the Light?
Illumination is a welcome sign. For after-dark inspection, turn on your lights, from the front porch on through. The prospect will feel a glowing warmth otherwise impossible to attain.
- Three’s a Crowd
More will lose a sale. Avoid having too many people present during inspections. The prospect will feel like an intruder and will hurry through the house.
- Silence is Golden
Be courteous but do not force conversation with the prospect. They are there to view your house, not socialize.
- Be It Ever So Humble
Never apologize for the appearance of your home. After all, it has been lived in. Let the trained sales representatives answer any objections that are raised. This is their job.
- In the Shadows
Please do not accompany the prospect and real estate representative. They know the buyer’s requirements and can better emphasize the features of your house when alone. You will be called if needed.
- Don’t Put the Cart Before the Horse
Trying to dispose of furniture and furnishings to the prospect before he has purchased the house loses the sale. Proper timing is important.
- A Word to the Wise
Do not discuss price, terms, possessions or other factors with the potential buyers; refer them to the Realtor.
Soure: REW.ca , Shell Bussey