Go Back   BuildingHomes.ca - Building your community! > Ontario > Hamilton-Wentworth > Waterdown

Waterdown Mountainview Heights, Starlane Homes and more!


Reply
 
Thread Tools Display Modes
  #1  
Old 2011-11-16, 03:57 PM
Robbie Robbie is offline
Junior Member
 
Join Date: Nov 2011
Location: Waterdown
Posts: 5
Default Waterdown: upgrades and taxes

As an FYI to all of you new home owners:

We purchased a Starlane home and have just had our first meeting at the design centre in Vaughan. Upgrade costs are through the roof and the basic choices finishes are those, as a contractor, I remove every day from 30 yr old homes and replace with current design materials.
We are seasoned home buyers. We buy for rental investments but also move every 5 years ourselves.
We currently live in Burlington (Alton Village) and purchased slightly larger in Waterdown from Starlane.

Property taxes are higher in Waterdown than in Burlington. Waterdown is part of the City of Hamilton and a big city needs more money from their residents.
We currently pay aprox $3,500 per year in Burlington. We have found out that our new home in Waterdown will cost us aprox $7,000 in property taxes every year. Property taxes are based on a few criteria. One of these is Purchase Price!!

With the purchase price without any upgrades you can get a pretty good idea about your expected property tax. That's what we did too and that is getting close to $7k per year.
Our wish list for upgrades is probably like yours - hugely expensive.
What is importaint to realize is that when you purchase upgrades it will be added to your purchase price, regardless of how and when you pay for these.
This means you are boosting your own property taxes.

For us it is easy. We will do most of our own upgrades afterwards. This way, the tax man doesn't know about it and the builder doesn't maximize on profits from us.
but it would have been nice, for once, to move into a new home that is exactly how you like it without being gauched by the builder first and the tax man next. We don't mind paying for upgrades, even a tiny bit more than its worth, but it has to be fair.
Reply With Quote
  #2  
Old 2011-12-18, 12:25 PM
Robbie Robbie is offline
Junior Member
 
Join Date: Nov 2011
Location: Waterdown
Posts: 5
Default car insurance

Didn't think about this before but someone told me that their car insurance went up a lot when moved from burlington to waterdown.
Waterdown is considered Hamilton and has a higher ratio of claims compaired to Burlington or Oakville.
Something we will consider in our home budget as we will be moving to Waterdown next year.
Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Rosehaven Waterdown Meadows paulinacbr Hamilton-Wentworth General 1 2014-08-05 09:39 AM
Greenpark - Waterdown - Mountainview Heights superstar1976 Hamilton-Wentworth General 71 2013-01-20 12:52 PM
Spring Creek Waterdown j2002 Waterdown 7 2013-01-02 10:42 AM
Taxes on upgrades Trepex Home Owner Tips, Upgrades and Maintenance 23 2009-08-31 10:07 AM
Spring Creek Waterdown malecm2 Hamilton-Wentworth General 1 2008-06-17 06:06 PM



All times are GMT -4. The time now is 12:23 PM.



Copyright © PHAND Corporation
This document may not be used elsewhere without the expressed written consent of PHAND Corporation.
*** There is no association between this website and any builder. ***

Powered by vBulletin® Version 3.8.10
Copyright ©2000 - 2019, vBulletin Solutions, Inc.