Tips and advices Calculator and tax refund
1) STEPS TO COMPLETE WHEN PURCHASING A PROPERTY.
The following list includes the steps that must be completed from the moment you’ve selected a model to the handing of the keys at the notary’s office.
- Signing of preliminary GCR (Garantie Construction Résidentielle) contract
- Mortgage financing process (10-day delay after signature of preliminary GCR contract)
- Any additions to the initial contract must be noted at this step. The initial mortgage amount may be increased up to the moment when colours are selected. After this period, the financial institution will demand discharge fees and require the negotiation of a new loan.
- In the three-day period following mortgage approval, you will meet our representative to:
– settle the amount stated in item 9.2 of the preliminary contract. We will emit a “deposit confirmation ˮ receipt. It is important that you remember that the GCR New Residential Housing Warranty plan covers your deposits up to a maximum of $50,000.
-receive your supplier list which includes the names of the suppliers you must meet to complete your colour selections (example: kitchen cabinets/ ceramics/ plumber)
- Your colour selections must be finalized in the 20-day period following mortgage approval.
- If you wish, you may visit the house with the foreman before the walls are closed and the gypsum boards are installed. You will also meet the electrician at this time to discuss the locations of the electrical outlets. It is important that the electrical outlets, telephone wiring and television cabling outlet planning be finalized before this step.
- Once construction is completed, prior to the final notarial procedure, the contractor will meet with you in your future home to perform a detailed inspection of the premises. The GCR “Pre-handover inspectionˮ form will be completed to put in writing any elements that require corrections or completion. This is a protective measure for you, the buyer: we promise to complete every item mentioned in writing on this form.
2) GST and PST : NEW HOME REIMBURSEMENT
New home purchases are eligible to receive a reimbursement equivalent to 36% of the applicable GST and 50% of the applicable PST.
You must take into account the maximum reimbursement levels of both government programs when calculating your return amounts.
The 36% GST reimbursement rate applies to purchasing prices below $350,000. Between $350,000 and $450,000, the reimbursement is applied at a regressive rate. Properties over $450,000 are not eligible at the Federal level. The 5% GST rate applies in full.
The 50% PST reimbursement rate applies to purchasing prices below $200,000. A regressive rate is applied to properties between $200,000 and $300,000. Properties over $300,000 are not eligible. The PST rate of 9.975% applies.
3) PLAN MODIFICATIONS
If you wish to apply changes to a plan, we will be happy to review the viability of the modifications with you. In instances when the modifications are major, an additional delay of 2 to 4 weeks will be added to the original timetable in order to prepare the new plans and implement a follow-up procedure to closely monitor the changes. An additional month (1) is required in Mascouche if modifications affect the exterior architectural elements, as they must receive approval from their Urban Planning department.
AIR EXCHANGE AND HEATING AND AIR CONDITIONING SYSTEM MAINTENANCE
It is preferable that you turn off your air exchange system to avoid raising interior humidity levels during the warmer summer months.
It is also important that you remember to re-activate the air exchange system before the arrival of winter to maximize heating system efficiency. The furnace ventilation control must be positioned in the “continuousˮ setting to ensure adequate humidity levels in your house.
If you have an air conditioning system, remember to close the damper to avoid drawing humidity into the system or shutting down the humidifier during summertime operation. The damper must be re-opened prior to the arrival of winter.
The heating furnace filter must be cleaned at least once or twice per year, or as required.
The internal furnace humidifying unit must be cleaned at least once per year (inner cartridge replacement).
5) GENERAL MAINTENANCE
It is important that you inspect the silicone joints every two years, as well as applying any touch-up repairs that may be required to maintain their condition.
For house models where a section of wall meets the roof (garage roof for example), it is important to remove any surplus snow and ice at these locations. These areas are conducive to wintertime water infiltration during mild winter weather.
6) DE-ICING SALT DURING WINTER MONTHS
The Quebec homebuilders association (APCHQ) issued a press release regarding the use of de-icing salt on concrete sidewalks and balconies. It is important that you consult the manufacture recommendations on the packaging when using these products to avoid that the concrete balcony surfaces flake or crumble. Concrete which is less than two years-old contains free lime, which reacts very strongly to the chlorides contained in the de-icing salts. The APCHQ therefore recommends the use of sand or fine gravel. Consult the APCHQ press release for more details.