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Financing, Mortgages and Insurance What options are best for you and your situation?


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Old 2006-06-06, 02:19 PM
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John & Linda John & Linda is offline
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Question Financial Benefits...

Are there any financial benefits to closing a house in the new year,
rather than at Christmas time, this year?
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Old 2006-06-08, 11:16 PM
mortgagehockeymom mortgagehockeymom is offline
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hmmmm....in what way were you thinking?? GST, financial planning, tax purposes, or just general prices??

I can't think of any reason myself.....although the resale market, prices tend to "soften" a bit around Christmas time, as it is a slower time of the year, but the new home market is not affected by that.

Jessica
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Old 2006-06-12, 10:22 PM
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Actually, I was thinking for tax purposes.
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Old 2006-06-12, 10:32 PM
mortgagehockeymom mortgagehockeymom is offline
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I don't think so....the GST rebate is coming into affect this summer....tax wise, none that I can think of. If you are 1xhb, then as long as you have your rsp's in for 90days minimum before pulling them out for closing, you are fine. As well if you purchase in the new year, you also have the tax savings in that year's rrsp contribution before it affects the next year so long as you deposit the funds into the rsp prior to the rsp deadline.

Not sure if this helps answer your question or not....sorry!

Jessica
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