Monday, March 30, 2015

Dramatic fee increases to real estate transactions coming soon...

The budget announcement last week was not kind to those looking to purchase a home. In its latest budget, the Government has significantly increased land title and mortgage registration fees. The good news is that the costs of purchasing a home are still extremely low when compared to other provinces as Alberta does not have a land transfer tax, which leaves home buyers on the hook for thousands of dollars in taxes. The bad news is that that some costs will rise to six times their current price. Prices rise on July 1st so, if you are thinking of purchasing a home, you may want to do it before the fees go up! Read more HERE.