menu

Buying a Toronto home in the suburbs may end up being more expensive

Date Posted
27 January 2015
[caption id="attachment_885" align="alignleft" width="300"] (Photo credit: Kurt Bauschardt/Creative Commons)[/caption] When deciding what house you want to buy, housing affordability plays a key factor in your decision since it affects the type of house you purchase, along with where you decide to purchase. Toronto's housing market is one that's closely watched by economists and housing experts with prices climbing over the past few years. Along with that, the price gap between condos and houses keeps widening and hit a record of gap of $251,000, according to BNN. The gap has grown by 16 per cent since the year before. The average price of a low-rise home hit $705,813 in 2014 and the average price of a high-rise home hit $454,476. When buying a home, the upfront cost can be intimidating, especially when you realize that you can save thousands of dollars by choosing to live in a different neighbourhood or settling for a different type of house, such as a townhouse or a semi-detached home. An infographic in MoneySense magazine shows that for every extra minute of driving away from the downtown core of Toronto results in the average house price dropping by $16,200. In Vancouver, the average house price drops by $20,600, while in Montreal and Calgary, it drops by $9,400 and $5,400, respectively. Before shopping, you need to check how much house you can comfortably make mortgage payments on, so you can budget for it. But the cost of commuting also needs to broken down, including car insurance, gas and the cost of the vehicle, and considered. Also, you can't forget the amount of time commuting takes since this will have a large impact on your lifestyle. A recent study by RBC and the Pembina Institute found that while there are scenarios where buying a cheaper home and commuting is more inexpensive, but sometimes it isn't. “Most homebuyers acknowledge that choosing a cheaper home often means spending more time and money commuting," says Cherise Burda, Ontario Director, Pembina Institute, in a press release. "But when we actually crunch the numbers, these costs can be startling. A seemingly cheaper home in a distant location can actually be less affordable than another option with a higher sticker price." In one case study covered in the report, it found that buying a home in Port Credit cost $180,000 more than a home in Milton, but the monthly cost of housing and transportation was $1,000 more since both parents need to own two cars for their work commute. While another case study found that the homebuyers could choose to live in a walkable suburb and cut their monthly transportation costs by $1,000, but only if they relied on one car rather than two. Location in real estate always remains key and if cost wasn't a factor, 81 per cent of Toronto homebuyers surveyed said they would trade owning a larger detached house with a yard for owning a smaller property in a walkable neighbourhood with good transit, according to a recent RBC-Pembina report. If you're house shopping, consider buying a newly built home since you could claim back some of its cost with a HST rebate. Rebate4U prioritizes providing our clients with the most professional and quality service in obtaining rebates for their new and renovated homes. We are proud to offer our clients the most personal and attentive service, and we make sure that all of our clients are 100% satisfied.

Contact Us

Rebate Calculator

Please enter the total value of your renovation including tax.

Total construction cost
(including taxes)
$
Search Our Blogs

More of our Blogs

27 March 2025

Why Property Title Affects HST Rebate Eligibility in Ontario

When purchasing a new house or investment property, most Ontario purchasers expect to receive the HST rebate in Ontario to assist with some of the costs. Not all applicants will be eligible, however, and one of the most frequently missed aspects is how title to the property is held. Title to the property is a critical element in determining whether you can successfully claim the HST new housing...

View Full Post
12 March 2025

How to Ensure Your Home Renovation Is Fully Eligible for the HST Rebate

Renovating a house is an exciting but costly undertaking. Fortunately, owners can recover some of the cost of such a project by using the HST rebate on home renovations. The rebate reimburses homeowners a percentage of the Harmonized Sales Tax (HST) on major renovations, new home building, or major renovations to eligible homeowners.

View Full Post
26 February 2025

How the HST Rebate Works for Rental Properties in 2025

If you've recently purchased a rental property or new condo in Canada, you may be qualified for financial support in the way of the HST rebate rental property program. The rebate exists to enable landlords to recover part of the Harmonized Sales Tax (HST) paid on new or considerably renovated rental properties. Understanding how it is done in 2025 is required to maximize your savings. Whether...

View Full Post
11 February 2025

Why Explore the HST Rebate in Ontario for Your Home Renovations

Home renovations are a big investment, and most homeowners in Ontario do not realize that they, too, have every right to receive financial relief. There are HST rebates in Ontario in place to take off some renovation costs that would otherwise be paid by the qualifying homeowner, reducing the overall cost for such improvements. Knowing how it works and just how it applies will enable you to save...

View Full Post
28 January 2025

How to Rebuild Your Home in the 2025 Economy with the Ontario HST Rebate

The HST rebate in Ontario is a great opportunity for homeowners, landlords, and real estate investors to get back part of the Harmonized Sales Tax paid on new homes, renovations, or rental properties. When buying a newly constructed property or renovating your home to a large extent, knowing how this rebate works will save you thousands of dollars. If you want to get the maximum rebate, Rebate4U...

View Full Post
15 January 2025

Who Qualifies for an HST Rebate in 2025

The Harmonized Sales Tax (HST) can feel overwhelming, especially when you're making significant investments in real estate or renovations. However, the HST rebate in Ontario offers valuable financial relief for those who qualify. Understanding the eligibility criteria is crucial for maximizing your savings in 2025. Whether you're a homeowner, builder, or landlord, the rebate program can...

View Full Post
25 October 2024

Can You Apply for the HST Rebate More Than Once?

The HST Rebate in Ontario is a highly beneficial program offered by the Canada Revenue Agency (CRS) for residential homeowners across the province because it gives eligible applicants tens of thousands of dollars back. By returning a portion of the HST on a new home purchase, renovation, or build, homeowners are able to make their money go further and save on important expenses and...

View Full Post
17 October 2024

How the HST Rebate Can Make Your Renovations More Affordable

Renovating a home is an exciting yet expensive endeavour. Whether you're adding a new room, upgrading your kitchen, or modernizing your home's exterior, costs can quickly add up. Fortunately, if you're planning renovations or have recently purchased a new home, there's a financial break available that many people overlook—the HST rebate. The HST Rebate in Ontario can...

View Full Post
30 September 2024

Signs You've Made a Mistake on Your New Condo HST Rebate Application

When purchasing a new condo in Ontario, one of the best ways to reduce costs is by applying for the HST Rebate in Ontario. The program is offered through Canada Revenue Agency, and a successful application can result in tens of thousands of dollars. For the average home buyers the application process for the HST Rebate on new condos or residential rental properties can be quite tricky. For the...

View Full Post
13 September 2024

Benefits of Tearing Your Home Down to Its Studs

Renovating your home by tearing it down to the studs can seem like an extreme measure, but it's often the most effective way to transform your living space. This process involves stripping a house down to its basic framework and rebuilding it with modern materials, updated systems, and improved layouts. Whether you're fixing structural issues or reimagining your home, going down to the...

View Full Post
Homeowners, obtain an HST rebate of up to $30,000 today!
get started

Why Choose Rebate4U?

Experienced Specialists

For over 10 years, the Rebate4U team has the knowledge and expertise to help residential property owners throughout Ontario successfully apply for regional HST Rebate programs.

Free Consultations

Our specialists offer complimentary consultations where we review your eligibility to determine whether you qualify for an Ontario HST Rebate so you can proceed with your application confidently.

Millions Awarded

We are able to expertly navigate rebate opportunities, staying up-to-date on the most recent rebate developments and changes in the HST Rebate program to maximize returns. To date, we’ve successfully acquired millions of dollars for clients in total.

Customer Commitment

The Rebate4U team is dedicated to delivering the highest level of customer service, we are here to answer your questions and help you navigate the intracises of your application easily and efficiently.

Cashing-In on the HST Rebate is as Easy as 1-2-3
Contact REBATE4U

Set up a quick, free consultation with the Rebate4U team to explore your HST Rebate options.

COLLECT DOCUMENTS

Submit your required documents to Rebate4U, and we'll handle your application.

GET YOUR Money BACK

Apply for the rebate and receive thousands in rebates in just weeks with Rebate4U.

FIND OUT IF YOU QUALIFY

We are proud to be working with top Canadian companies

Recent Posts view all posts

Why Property Title Affects HST Rebate Eligibility in Ontario

When purchasing a new house or investment property, most Ontario purchasers expect to receive the HST rebate in Ontario to assist with some of the costs. Not all applicants will be eligible, however, and one of the most frequently missed aspects is how title to the property is...

Read More

How to Ensure Your Home Renovation Is Fully Eligible for the HST Rebate

Renovating a house is an exciting but costly undertaking. Fortunately, owners can recover some of the cost of such a project by using the HST rebate on home renovations. The rebate reimburses homeowners a percentage of the Harmonized Sales Tax (HST) on major renovations, new h...

Read More
We Are Based

Rebate4U
101-3185 Bathurst St
Toronto ON
M6A 2B2

1-800-610-4510
info@rebate4u.ca

Connect With Us
Error...

Please, enter a valid value

We are sorry...

But the values you entered are invalid

Rebate

In celebration of our 3 year anniversary at Rebate4u Inc, we have decided to reduce our fee structure for all new home and renovation rebates including the New housing rental rebate.  

Don't waste your time looking for anyone else to take care of this because we will not be under sold.
Please fill out the form below or call us at 1-800-610-4510

Please, enter a valid value