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With the new city land transfer tax, many are questioning whether Toronto homes for sale are still a good investment. Buying real estate in Toronto will always be a good investment! This new tax came into effect early in 2008, however, it does not affect everyone. There is some relief for first-time home buyers as they can get a refund of the tax up to $3,725. Some financial institutions are also trying to lessen the burden of this new tax for people looking to buy Toronto homes for sale. These institutions offer to pay the land transfer tax for buyers willing to sign up for a fixed rate five year mortgage.
These incentives are helping ease the impact of the new city tax on the housing market in Toronto. Experts are still forecasting healthy growth for the foreseeable future. If you are looking for Toronto homes for sale, then you may begin your search here by using the property search. If you have any questions regarding the real estate market or any Toronto homes for sale, please feel free to contact Fran Melchers for all of your real estate needs.