Get Back Up To $130K on New Homes - Allison McMurter
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In this episode of Real Talk With Gary, host Gary Hibbert is joined by real estate lawyer Allison McMurder to break down Ontario's newly expanded HST rebate program, which could provide up to $130,000 in savings on new home purchases. The rebate, framed as an expansion of the existing New Housing Rebate rather than a new program, allows buyers to claim 13% of the purchase price—up to $130,000—on homes priced up to $1 million, provided they occupy the property as their primary residence or an immediate family member does. The change, effective April 1st and running through March 31st of the following year, is designed to stimulate new construction by reducing the financial burden on developers and encouraging buyers to enter the market. Allison explains how builders are adjusting contracts—either pricing homes inclusive of HST net of the rebate or exclusive of HST with conditional credits—and warns buyers about the risks of disqualification, including potential legal action and liens if the home is sold too soon after closing. While the rebate is not currently available to investors or corporate buyers, the episode highlights the importance of understanding eligibility, contract language, and long-term implications. The conversation also touches on the broader market impact, with speculation that the rebate could bring new builds into closer alignment with resale prices, though its effect on the wider market remains uncertain.
The new HST rebate allows up to $130,000 in savings on new homes priced up to $1 million, with the rebate amount calculated at 13% of the purchase price.
The rebate is only available to buyers who occupy the home as their primary residence or to an immediate family member who does—corporate purchases and rental investors are not eligible.
Builders are adjusting contracts in two ways: either pricing homes inclusive of HST net of the rebate or exclusive of HST with conditional credits, which creates risk if the buyer’s qualification is questioned.
Buyers who sell their home within the first year after closing risk losing the rebate, with the government auditing intent and builders potentially suing or placing liens on the property.
The rebate is not yet officially passed into law, but the government’s clear messaging suggests it’s unlikely to be reversed, making it safe to proceed for contracts signed after April 1st.
…and 2 more takeaways available in PodZeus
Introduction to the HST Rebate and Market Context
Gary introduces the episode, setting the stage with a focus on financial transformation, mindset, and real estate trends. He welcomes Allison McMurder, a real estate lawyer, to discuss the newly announced HST rebate and its implications for new home buyers and developers.
Understanding the New HST Rebate Structure
“It's not a new rebate—it's an expansion of the New Housing Rebate. You can now claim 13% of the purchase price, up to $130,000, as long as you're buying it as your primary residence.”
Builder Contract Strategies and Buyer Risks
“If you sell within the first year, the government will audit your intent. If they find you didn’t truly intend to live there, you could lose the rebate—and the builder can sue you and even lien the property.”
Eligibility, Exceptions, and Investor Implications
The episode clarifies that investors, corporate buyers, and rental properties are not eligible for the expanded rebate. The separate New Housing Rental Rebate still exists but remains at $24,000. The first-time homebuyer rebate is currently suspended during this one-year window.
Market Impact and Developer Incentives
Gary and Allison discuss whether the rebate will have a deflationary effect on new builds and potentially the resale market. They agree it will likely lower new build prices and boost developer activity, but its broader market impact remains uncertain due to supply constraints.
“If you sell within the first year, the government will audit your intent. If they find you didn’t truly intend to live there, you could lose the rebate—and the builder can sue you and even lien the property.”
“If the builder thinks you’re misleading them about your ability to qualify, they can pull the credit at closing—leaving you responsible for the full $130,000.”
“It's not a new rebate—it's an expansion of the New Housing Rebate. You can now claim 13% of the purchase price, up to $130,000, as long as you're buying it as your primary residence.”
Host
Guest
Allison McMurder
person
Gary Hibbert
person
HST New Housing Rebate
other
Ontario
place
Doug Ford
person
First-Time Homebuyer Rebate
other
Rent Panda
brand
New Housing Rental Rebate
other
BM Select
brand
McMurden Associates
organization
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