What is The Hudson deposit schedule?
If you choose to purchase a home at The Hudson, the deposit will be 5%, and the structure will be as follows:
- $1,000 deposit at time of writing contract
- 5% of the purchase price less the $1,000 within 7 days
What happens to my deposits?
All deposits are held IN TRUST by a lawyer on behalf of the developer.
Is HST included in the Purchase Price?
Yes, the prices now include HST. To learn more about potential rebates, please speak to a member of The Hudson Sales Team.
How much will my strata fees be and what do they include?
Strata fees vary with the size of your home. Your strata fees include things like insurance for the building, cleaning and maintenance of the common areas and exterior of The Hudson, landscape maintenance, window cleaning (you still need to take care of the inside), garbage removal, heating, water and sewage. Our Sales Team can provide specific details pertaining to the suite you are interested in.
How much are my property taxes estimated to be?
That sounds like a question for our sales team; they'll be able to give you a pretty accurate estimate based on the value of the home you fall in love with.
Usually, the annual gross property taxes, before deducting any homeowner grant, are estimated to be approximately 0.9% of the value of your home. Property taxes will be based on the City of Victoria assessment once the building is completed. Your property taxes will be outlined by an official Property Tax notice from the City.
Is there a financing package provided for The Hudson purchasers?
Yes, we have some great financing packages available for Hudson homeowners provided by TD Canada Trust or BMO Bank of Montreal. To learn more, please speak to a member of The Hudson Sales Team.
Has The Hudson been approved for high ratio mortgage insurance by CMHC?
Yes. Premiums are based on the amount of the mortgage as a percentage of value — drop by the Sales Centre for current detailed rate sheets.
I'm not a resident of Canada. Is there any information I must consider?
Please refer to http://www.bcrea.bc.ca/buyers/Non-residents.htm
What other costs should I consider when purchasing a home?
When purchasing any home, here are some items that you will want to budget for. Some of these items include the deposits, HST, BC property transfer tax, and applicable legal fees. Upon closing, you should also consider monthly mortgage payments, strata fees, city and property taxes, and applicable utilities.