Is there taxes (eg. pst, gst), when purchasing a...

[sweetsaassy26]

...home? First time home buyer, wants to know what I'm getting myself into.

[j-net]

UM YA!!! huge taxes i dont know what kind but there are definitly property taxes and all that stuff the gov always needs there piece oh your action

[mastinox]

You bet your sweet booty there is!

[remmiwrath]

oh yes, PST and GST, plus municipal...snow removal, schooling....ya da ya da.Luckily the GST is reduced by 1% now.good luck.

[jj_bao]

Of course there are taxes... Don't worry though, my husband and I are first time buyers too. We are lucky because we can use our VA loans which drastically decreases our upfront cost (0 down payment). If you are a veteran or is currently active duty military, I'd suggest that you seriously look into obtaining a VA loan. But, we still have to worry about closing costs.Depending on your credit, you can get a conventional loan for a fairly decent interest rate. But, most mortgage companies require that you put a 5-10% down payment on the house. That's on top of the closing cost. I'd asked my real estate agent if they can find houses where the owner is willing to pay part of the closing costs. Also, once you have the loan, Have them add home insurance to your loan. That way, all you have is one bill and you don't have to come up with more money up front. Talk to a loan officer or your real estate agent.. They can probably help you more.

[TRE]

I did some digging on this (I didn't think that GST and PST applied) but it does on new homes according to the site I found. There are a bunch of fees and taxes that you will have to pay. Here is a list- look in the "Additional Costs and Fees when Buying and Selling Property" section.Also you can talk to a realtor. They will have the best information for your area and I am sure will be more than happy to talk to a prospective client .http://www.assignmentscanada.ca/buyingincanada.html