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  #161  
Old 2018-01-26, 04:48 PM
walter8299 walter8299 is offline
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Originally Posted by tumtum View Post
Did anyone read this article by CBCnews....its about mattamy homes dropping their prices by $75,000 from 1 year ago

http://www.cbc.ca/news/canada/toront...drop-1.4501010
Mattamy Homes has been doing some stupid sh!t recently quite honestly.

They forced people into inhabitable homes in Markham last year.
Now they try to screw phase 1 buyers, hoping to offload their phase 2 lots.

Luckily the builder "Sundial Homes" in Sharon has been quite firm with their pricing and didn't go "under".

I was checking the ph1 inventory lots pricing and seems like its priced at where ph3 is at, with the upgrades as bonus and advertised as "quick closing" deals. So atleast Belle Aire isn't trying to screw us up completely.

Also, I check the resale in the area that are between 0-5 years old, 3000+ sqft, 3-car (tandem) garage (aka the Fisher model) --- Not much comparable. The closest one is sold for about mid-800s. So it is still cheaper than what builder is looking to fetch for the Fisher Model (likely in the high 800s).

My dad is likely going to close it, rent it out, and see how market is in a year. Worse case, just sell it between 750-825k and call it a day. Still at loss consider all cost involve to close it. But life is like this sometimes. Cannot complaint over everything and be bitter in life Maybe he'll move in and just enjoy the community. Who knows and what not :P
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  #162  
Old 2018-01-26, 06:36 PM
erexa erexa is offline
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Quote:
Originally Posted by walter8299 View Post
Mattamy Homes has been doing some stupid sh!t recently quite honestly.

They forced people into inhabitable homes in Markham last year.
Now they try to screw phase 1 buyers, hoping to offload their phase 2 lots.

Luckily the builder "Sundial Homes" in Sharon has been quite firm with their pricing and didn't go "under".

I was checking the ph1 inventory lots pricing and seems like its priced at where ph3 is at, with the upgrades as bonus and advertised as "quick closing" deals. So atleast Belle Aire isn't trying to screw us up completely.

Also, I check the resale in the area that are between 0-5 years old, 3000+ sqft, 3-car (tandem) garage (aka the Fisher model) --- Not much comparable. The closest one is sold for about mid-800s. So it is still cheaper than what builder is looking to fetch for the Fisher Model (likely in the high 800s).

My dad is likely going to close it, rent it out, and see how market is in a year. Worse case, just sell it between 750-825k and call it a day. Still at loss consider all cost involve to close it. But life is like this sometimes. Cannot complaint over everything and be bitter in life Maybe he'll move in and just enjoy the community. Who knows and what not :P
What about HST? If he closes and sells it he will be subject to that.
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  #163  
Old 2018-01-27, 12:54 PM
walter8299 walter8299 is offline
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Originally Posted by erexa View Post
What about HST? If he closes and sells it he will be subject to that.
Yeah he would be out the rebate portion. I think 24-28k due on closing. And we wonít get it back unless we lease it out for a year. And apply for it.
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  #164  
Old 2018-01-27, 02:34 PM
tumtum tumtum is offline
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Just to be clear we have already paid the HST and is entitle to a portion of it back within 2 years after closing...providing that it is your principal resident?
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  #165  
Old 2018-01-27, 03:28 PM
walter8299 walter8299 is offline
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On closing, if you advise your lawyer this is your primary residence then the lawyer would file a form that allows the builder to claim the hst rebate. The price you pay for the house has the hst due and hst rebate built into it.

IN the event you declare this as a non primary residence then the builder cannot claim the rebate in which they would be short that amount and you would have to cover it on closing. If you end up leasing it out then you can claim the rebate on your own. If you end up selling it, then you cannot get the rebate.

If you are not sure how it works, better speak to your lawyer further. But to make it simple, as long as it is your primary residence then you donít pay anything in relation to hst on closing.
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  #166  
Old 2018-02-17, 07:51 AM
erexa erexa is offline
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Went there yesterday.
Community is coming up. Lots of people from Phase 1 moved in. Does not seem that Phase 2 will get delayed a lot. My lot was not dag particularly but they still have 5 months to closing. We will see.
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  #167  
Old 2018-02-26, 05:40 PM
tumtum tumtum is offline
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has anyone been paying attention of all the houses listed for sale in phase one....i could have gotten a better deal buying a resale they are listed below what the sale centre is asking
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  #168  
Old 2018-02-27, 08:09 AM
walter8299 walter8299 is offline
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Quote:
Originally Posted by tumtum View Post
has anyone been paying attention of all the houses listed for sale in phase one....i could have gotten a better deal buying a resale they are listed below what the sale centre is asking
Maybe I haven't look into the local board, but on MLS (Toronto board), I see 3 inventory listing and 1 that is closed from phase 1.
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  #169  
Old 2018-02-27, 09:03 AM
erexa erexa is offline
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Quote:
Originally Posted by tumtum View Post
has anyone been paying attention of all the houses listed for sale in phase one....i could have gotten a better deal buying a resale they are listed below what the sale centre is asking
Listing prices are more than Phase 2 prices.
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  #170  
Old 2018-03-05, 12:42 PM
erexa erexa is offline
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Any updates on development of Phase 2 homes?
We pretty much have 4 months left till our closing date and no idea if they started digging or not?
Can a builder close home in 3-4 months?
Last time I was there I saw infrastructure is there (pipes, cables) but the place where the houses would be was still un-excavated.
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