There's a rebate on the table that could hand new home buyers back up to $130,000. Evelyn, Ruth, and Sandy break down what's real and what's still proposed, who actually qualifies, and the dates that matter most. If you're thinking about buying a new home, this episode is for you! The federal GST rebate on new homes has been active for over a year, returning up to $50,000. What's new is Ontario's proposed HST rebate, which combined with the federal piece could return the full 13% in tax. The hosts also debate whether this is a bailout for builders or exactly the stimulus the market needs, and cover what buyers need to confirm before signing anything with a builder.
There's a rebate right now that could bring a million-dollar new build down to roughly $870,000. In this episode, Evelyn, Ruth, and Sandy unpack the federal GST rebate and the proposed Ontario HST rebate on new construction homes, why this rebate isn't only for first-time buyers, and the one-year window it applies to.
They also cover the messier side of today's market: multiple offer strategy, underpriced listings, and why new build pricing and resale pricing rarely compare fairly.
If you're considering a new build this year, listen before you sign anything.
Have a question about this episode, or wondering what this rebate could mean for your own plans? Reach out directly, any of us would love to hear from you.
Evelyn Lopes | RE/MAX Realty Services Inc. | evelyn@evelynlopes.com | 905-965-5902
Ruth Ballantyne | RE/MAX Realty Services Inc. | ruth@ruthballantyne.ca | 416-779-8732
Sandy Casella | eXp Realty | sandy@sandycasella.com | 416-467-8627
Have a general question or a topic you want us to cover? Reach out to the show directly at RealEstateWithoutTheNoise@gmail.com.
And if you'd rather watch than listen, check out this episode on YouTube: https://www.youtube.com/@RealEstateWithoutTheNoise
 Welcome back. Today's conversation is one that could have a huge impact on the real estate market in Ontario this year. Both the federal and the provincial governments have announced major tax relief on new construction homes. So today, what we're gonna be talking about is a federal rebate that can return up to 50,000 in GST, and a proposed Ontario expansion that could eliminate the full 8% provincial HST. So in some cases, this could add up to a savings of $130,000 on a new construction home, and that's with not negotiating anything off the purchase price from the builder. Today, Evelyn Ruth and I are going to unpack what's real, what's proposed, what buyers need to understand, and where the opportunity actually is. So, the question really is not just what's being offered, but who actually qualifies for this? What's already in effect versus what is being rolled out right now? And most importantly, how should buyers and sellers be thinking about this right now? So, let's get into it. So, this, um, I wanna get your take, like, your take on this, because this is, this is something that was for first-time buyers at one point, but now it's been, it's been phased out or, or, or it's been expanded to include any buyers up to $1.5 million for the full rebate. But even over and above that, buyers can still benefit from this. So, what do you think-- How do you think this will affect the market going forward this year? Well, I think it's, uh, something that the market really needs. We know that, uh, sales have been down across the board, and especially for new home builders. We've also noticed that if you drive around your neighborhood, you're not seeing as many new build starts, uh, as we did a, a little while ago. And so, we also know that for every house that's built, uh, that really stimulates the economy in so many ways. It gives jobs to those construction workers. It's, uh, jobs to, you know, people who are, um, you know, making appliances and selling appliances and furniture and all the related things that come with purchasing a home. And so, in order to keep the economy growing, we need to have, uh, housing as an important component of that. So, I think this tax rebate is gonna breathe a little bit of life- Into some people who are sitting on the sidelines. Because when you think about it, you know, the average price of a home in Toronto we know is sitting at around a million dollars. And to say that they're now gonna get a rebate of $130,000 on a $1 million purchase, that's substantial. That brings that purchase price of 100 to, what, 970, right? Which makes it a lot more affordable. 870. 870. I'm sorry, 870. That's a lot more affordable, and it allows a lot more people to say, "Yeah, you know what? I can, I can do this. Let's check into it." And they can move forward. Now, we also know that there's still people who are gonna sit at the sideline because it's still not the right time. Maybe their jobs are not stable, they don't have the down payment. But for those that are sitting there and, you know, can make a move, and this rebate may enable them to make that move quicker, I think it's a great, it's a great thing. I do too, and I also think that sometimes we have to also just think about, uh, it's not all first-time buyers that need help and, and need to, uh, get going. So I, I think this will help, uh, move the market a little bit because if we've got second-time buyers that are actually buying new homes, it means that they have to sell their first home, and that allows somebody else to be able to come in and get their first home. So hopefully it will help the market move. And as you said, Evelyn, it's a huge effect that every house built is something like, I, I think it's $96,000 that, uh, REA says spins off. So every house that's sold, not just built. So it, it's really good for the economy. Yeah, I agree. And I, I think it's-- I, I think this one is significant because it doesn't just target first-time buyers, it targets everybody, which we haven't seen in the past. Like, usually when these incentives are rolled out, like, the, the, the one-- the federal one is not new. The federal rebate has been in effect for, um, just over a year now. This one now is just being combined with the provincial one, which would give people the full 13% back. So, this has actually even got me thinking about buying a new build believe it or not, because I'm thinking, "What a great opportunity," right, at this point. And we know that over the last few years, the price of new builds has been astronomical, right? Um, anything, uh, especially if they were built in around the COVID time, those newer builds have just become so expensive to buy because of the price of materials and, um, you know, work-workmen and things like that. So, this will sort of bring that new build down. It used to be at a time that people would buy new builds 'cause it was a better deal. They would say, "Oh, I can buy it now, and in a couple of months, you know, or a year, I can save up some money and I can get into that, uh, new house." But over the last few years, it hasn't been the case. The spread between a new build and a resale has been so extreme that really the resales were, in most cases, the better, the better opportunity. So, this might sort of level things out a little bit more and spark those new builds, which will actually end up moving the market at all levels, right? Everything is sort of sitting there right now. People wanna get into the market. Um- Even in a resale, and they can't because those people that are in those small starter houses aren't moving, and they aren't moving for a lot of reasons. But this may help alleviate some of those reasons and get them moving to something bigger so the first-time buyers can get into those smaller houses, and then those middle people can move into something else. So starting the economy moving in this way will free things up, I think, on, um, on different levels. Yeah, absolutely. I, I also think this is significant because it's aimed not only at getting the housing market moving, it's aimed at getting the building moving, right? Because we really need that. If we get people back into the market without creating new homes, that's going to be an issue because all that's going to do is drive up the price. So this is designed to get builders back at building, get the, the trades workers working again, get everybody working again, and like you said, Ruth, getting... Like, generating money back into the economy because every time, like you say, every time a house is sold, it generates almost 100,000 in the economy in s- in spin-off business, right? So this is, I think, really significant because it is aimed at a num- number of different avenues to get things moving. Right. Now, I think to, to play the devil's advocate, there is another side to this whole thing. So it is, um, basically a one-year program that is supposed to start April the 1st, 2026 and end March 31st, 2027, for homes that are either currently under construction or that are going to be starting construction, and the purchase date cannot be before April the 1st. So I think there's people that are probably sitting on the sideline right now waiting for that April 1st date before they can move in. So, um, you know, I have heard people say that it's really kind of a tax relief and a help for those builders that are sitting on inventory that's not finished as well, right? So, um- That's just another take on it. Mm-hmm. 'Cause it's really... It's, at this point, it's not a long-term thing. I don't know how they would be able to afford that long term. So it's kind of, it's just this little shot in the arm, and it's, it, I mean, it definitely helps the buyers and the economy, but, but it's also, in a way, a kind of a bailout for the builders. Well, I think, let's face it, the builders have been under such a, a, a, the, the market has been so poor for resale homes that the builders aren't able to build anything right now. So this may bring in some demand for their products and get all of the business moving. And I know that people are saying that it's bailing the builders out, but in general, it's good for the whole economy. So it's not just helping the builders. Right. And I know the government said that they wanted to increase housing starts, and I forget what the number was, but it was quite significant, and we're nowhere close to that. So this will also, uh, put in some, um, movement in creating those new houses that we're going to need. Right now, the market is sort of sitting stable because, um, of a lot of uncertainty in the economy and around the world. But there's, as we've said many times, this pent-up demand, and when that demand feels like they can release, there's not gonna be enough houses. So this will help in getting some of those starts so that it will at least contribute to the number of housing starts that the government was proposing, which is so far behind right now. I'm not, I'm not sure I understand that, that logic, that it's a, it's a, it, it's a, what, what did we say? Um, a bailout for the builders. I'm not sure I understand that logic because, like, if we just look at the builders themselves, this is a, a huge... I mean, I did a video a few weeks back about this. Like, if the government truly wanted to get the, the... I, I was watching a video and they were talking about houses being too expensive. Well, first of all, houses are not too expensive everywhere in Canada. It's in certain pockets. Let, let's be honest, it's, uh, it's Toronto and Vancouver, right? If the government truly wanted to get the price of houses down, it's a very simple fix. Get rid of the taxes, get rid of the development charges. Like, if you just spur the economy, I, I think what's misunderstood is we think all these taxes we pay- They prevent people from spending mo- money on other things. And if people are spending money, taxes are going to come in. But when you're, when you're overtaxed and there's so much tax on everything, it limits the other things that you can buy. So I, I don't know. I don't agree that this is a, a, a, a bailout for the builders. I think it's a necessary thing that we need. We need more housing, provided that housing is... And maybe we can get into this 'cause we were talking about the missing middle, but providing that housing is provided to the people who need the housing. We need first-time buyers in the market. If we don't have first-time buyers in the market, we don't have a market, plain and simple. You cannot have a market, a, a, a real estate market that's moving and people being able to buy houses without new buyers coming into the market. And I would argue that the more the world gets uncertain, the more homeownership becomes more important to people because it gives you a sense of control. So young people that are starting families or whatever, they want to be able to buy houses, and I, I think this is a, a really good thing to get the economy moving. The, uh, uh, the Ontario economy depends a lot on the housing industry And I, I think what people are, when they're saying things like it's a bailout for the builders, are not thinking about what the, uh, spinoff from that will be. And that's just simply keeping guys in jobs, you know, in all of the trades. We need them to be at work. We don't need them sitting at home collecting unemployment. We need them building houses and, and building things so that we can get the economy going again. Then when we look at the cost of housing here in Canada, it is extraordinary because like you said, there's developmental charges, then there's HST, then there's land transfer tax, and you look at other places, uh, like our southern neighbors, and the housing is so cheap, and you're, like, wondering why, and it's 'cause they don't have all those taxes. And, um, you know, in some of those areas, I know I was looking at some stuff a couple of years ago, uh, those development charges are spread over 30 years to the new buyer that, that buys the home. They're not built into the purchase price, making it a little bit more affordable for people to at least get into the door. So we are taxed to death, and this, you know, provides relief, but it's, it's a temporary relief at this point, right? It is. It d- and it doesn't mean that it won't, it, it won't... You know, some things may not change in a year from now, and it may get expanded, or they, they may change certain things, but I, I, I think it's a really good move. I think it, it has to be done. We have to do something to start getting this economy moving again. There's no, you know, all these tradespeople, these guys and gals that, that are in the trades, and they're sitting at home right now. I'm sure they're not considering this a, a, a bailout for builders. They're considering it, like, help for them to get back out and- I thought so support their family, right? Mm-hmm. I think the next part that they have to look at is lowering those developmental charges. Absolutely. That is also, uh, really stifling the growth of the housing market. It's so- Prohibited in a lot of cases Sure. People, people like to, like to, like blame the builders for the cost of housing and, you know, that they're greedy. Well, let's face it, there's a lot of tax. There's a lot of money that goes back into the government from these houses that are built, so that's where, where things need to be looked at. I've also heard-- I heard this week, I was talking to a builder in, um, they're building a subdivision in Burlington, and they told me that the city of Burlington has waived the developmental charges on those houses. That's like, that's over $100,000 per house. Like, just think about how much of that house, if you're buying a, a, a $2 million house and 2 to 300,000 of that is tax, that's a lot of money. So let's get the economy moving. I think that's important, right? And builders are offering a lot of incentives. We're, we're working with a condo builder and he's doing a boutique condo in Oakville, and they're waiving closing costs. Like, the builders are-- But these things have to get moving. Like, let's be honest, we, we have to get things moving here. What are, what are you, what are you guys seeing in terms of buyers? Like, what, what are buyers thinking right now? We've had quite a few that have come back into the market recently and put offers in and bought properties, so I, I think there is a lot of movement there. We're hearing a lot more about, um, multiple offers on properties, which, I mean, that's, that's a whole other-- That's a, that's a that's a whole podcast that we can do right now because that whole thing of just pricing things to, with a, with a low price, I think is something that's, that's gotta be looked at by the real estate industry. Has to be. Right. But it's not only ones that are low price. I know I was just recently in a multiple offer situation, and the house wasn't underpriced. It was just that it was priced bang on and showed fantastic, and we know that, again, the first two weeks of the listing being on the market is when it gets the most activity. Well, within the first day or two, there were two offers on the property 'cause it was just a great neighborhood. It was Totally move-in ready and it was priced to go. So, you know, I think, um, I agree with you. When people are underpricing and trying to play those games, it really turns the buyers off. I think it turns the realtors off too, 'cause we're like, "What are you expecting?" And you call some of these agents and they priced it so low or a dollar and it's like, you know, it, it doesn't make sense whatsoever. Um, but the others-- that other part of it where they just price bang on and, uh, they get multiple offers. And I have no problem with that. I think that's, that's the way it should be. But to, but to price the property deliberately low because y- you-- in this market, you need to know how to price a house, and I think that's part of the problem, that realtors don't know how to price houses and they don't know... A- and they also don't know how to convey that information to a seller, and that's where the experience, like the experience that all of us h- have, we got into a market where there was no such thing as multiple offers. We had to actually know how to price a house and how to justify it and how to convey that to the seller so they could make a good decision. But this whole thing of pricing low, we have a, we have an agent on our team right now that's, that has two first-time buyers that are looking at a property. They put an offer in. They were w- they were holding offers. They didn't get any offers. We went w- she went in afterwards with a, an offer that was slightly above what they were asking, and they turned it down, and they want way more money for the house. And now that, that deal didn't go through. That condo is still sitting on the market at that low price. That should not be allowed. Like, I'm sorry, that should not be allowed. You should not be allowed to price a house at a price that you are not willing to take. Walk into any grocery store and, and if, if it's scanned incorrectly and the price is wrong, guess what? You get it for free. But to be-- but to price a house like that and, and then to leave it on the market when you didn't get multiple offers, knowing that your, your seller is not willing to accept that price, I just don't think that should be allowed. And you know what? That, I, I totally agree with you, and I've come across that myself just in the last couple of weeks where they were doing the exact same thing, and then we came in and, and I said, "Well, you know, I, I see you were holding offers and the price is still the same. Are-- is now your seller's expectations, you know, um..." revisited and now they're looking at that price. Oh no, they're not. They're wanting, you know, way more than that. And I'm like, "Then it makes no sense." But I think on the other hand too, you have to look at too, what I have seen recently, not so much the overbidding, is people coming in and saying, "Hey, this is a one shot. We're trying this because it's what we think the value of the house is, and it's what we think the value-- it's what we are prepared to pay for the house. It's what we're-- we can afford." And then just leaving it with the seller so the seller can say, "Yep, I, I, I can take that," or, "No, I can't." Because at least then the seller sees what someone else feels it's worth and can look at it. And, and I sold one earlier, well, earlier in the year, and that's what happened. We had it priced at what, what we felt was a good price, but it turned out her motivation was different once she saw an offer. She was really, really ready to move. And so she said, "Yep, I can agree with that," and, and went on from there. Yeah. That's-- Well, that, and that, and that's fair, right? That's fair. But I think, yeah, I think there's some, some changes that have to be made, for sure. So I, I-- The other issue is that when you start doing that, and we found this, I don't know about you guys, but we found this when the market started to turn And, and we had all these multiple offers, and suddenly the market started to turn. What was happening is we were advising our sellers to price it right on the money, like right where we think it should sell, which is what you're saying, Evelyn. And then if there's multiples, that's a different story. So we were saying, "Price it right where you think it should sell. Let's don't do... Like, let's don't go lower." But what happened was we didn't get any showings on some of these properties, and then when we call, like agents would call and say, "Well, how much are they expecting?" Because the expectation was so much, the buyers were so trained that every house was priced under market value and they would have to go higher, that when we priced it where it should sell, buyers didn't come and see it 'cause they thought, "Oh, well, they want multiple offers." So that skews the whole market. Like, that almost forces you as a, like to, to price it lower, which just isn't, I- isn't fair. Like, I don't think we can mandate that you can't have multiple offers, but I do think we can mandate that you can't price a house at 400,000 when you will not accept an offer unless that offer is 600. Yeah. And I see what you mean, 'cause during that COVID, th- that's exactly what happened. I was all of the frame of mind that houses should be priced w- what they're worth, like right on the market. But it was that case where everything was lower, that you became this overpriced house because the s- the buyers, for the most part, don't see, uh, the remarks holding offers until such and such a date. And at that point, they just assume that the price that they see is the right price, which is why a lot of people underprice, because the buyers, again, don't see that that's not the real price, right? So it, it does skew everything and, um, I don't know how they can mandate that because we know that a seller can put their house up for whatever price they want, and even if ag- they get 100%, they don't have to accept it because price isn't everything, right? They could say, "I'll give you X, but, you know, I want your baby too," right? Or your dog or whatever, right? So it's, it's price, it's terms, it's conditions, it's closing date. There's all these things that are, um, intertwined with the final selling price. So I, I think it's really hard to say you can't, uh, price lower and expect higher. Yeah. I, I, I get that part of it. Can I say something, Evelyn, that you said there made me think of, um, one of the good things in the market right now is you can actually ask for things that might not be price related when you're saying price is in everything, which is true. And when I bought my first house, we came to a sort of stalemate in it. Um, they wanted 93,000 and I only wanted to give them 90,000, I think it was, and we had to come together. I know it sounds crazy. I wanna talk about those numbers now. But, um, so- What we did was I asked them for their living room furniture, 'cause if I gave them my extra 3,000, I didn't have $3,000 to buy an- buy the furniture. And they had two sets of furniture in their living room, so they agreed to it. So one of the good things that's happening in the market right now is you can ask for things. You may not get it because it might be dear to the seller, but you have more opportunity than we had during COVID. Yeah, that's very true. And I, I agree with you, I agree with you, Evelyn, about the, you know, how, how... It, it's hard to mandate that. 'Cause we all know even if you get multiple offers, the seller doesn't have to take the highest offer, so not everything is about price. However, so then having said that, then I think that comes down to us as realtors and the industry and, you know, t- taking a look at ourselves as realtors and having some rules of engagement of, of, of how we think this, you know, how, how it should work. Like, everything shouldn't have to be mandated, but we should look at things and with some professionalism and maybe, like, the bar needs to be raised in the industry. I don't know. Like, I just, I just think it's a little frustrating to tell your buyer... I mean, how many times do you have a buyer who calls you and, and says, "Oh, oh my goodness, look, I saw this property," and it's priced at whatever. Let's, let's say, you know, it's, it's a million dollar property and it's priced at 699. And then you look at it and you say, "Well, they're, they're..." Like you say, Evelyn, the public doesn't see those comments 'cause it's in the realtor only ones. And then we say, "Well, they're asking for more money." That's a really hard thing for a buyer to wrap their head around, right? When they're like, "Well, well then why are they asking that price?" So it's, it's just, I think, maybe the industry, the standards in the industry where we don't need it mandated, but we do need to check ourselves and, and make sure that as we're professionals, if we're professionals, then we need to do a better job, I think. Right. And I think it just, like you said, it starts with one person in an area and then, oh, somebody goes, "That worked, so I'm gonna start it. I'm gonna start it." Everybody starts it, and then you're, like, almost, like you said, forced to do it. But, um, it, it, it's, it's something I really don't like at all. Well, like you said, every time, I know during COVID, people would tell me about a house and I'd say they're holding, and then I have to go and I have to do a CMA for every single house they wanna see because is it in their price range or not? And you, you call the agent, of course, the listing agent is representing the seller, and so they're just gonna tell you, "Well, they want more than this." Like, "Well, what ballpark?" "Well, we're not even gonna tell you a ballpark 'cause they're expecting hundreds of thousands more at that point," and people are paying it. And, um, yeah, I, I don't agree with it. But, um- Just becomes too much. It's very interesting. So let's, let's tie this back into what we were talking about with the, with the new builds. Like, I mean, it, it... The new builders, the way builders sell houses are totally different than the way we sell resale houses, right? We're mandated differently. We have different rules that we have to follow. But can you imagine walking into the, the, the... I mean, the builders maybe do it differently, but can you imagine walking in and saying, "Oh, I wanna buy this model," right? It's, you know, it's 1.1 million, and the builder says, "Well, that, it says 1.1 million, but really we want 1.3 million for that one." Well, you know what? And I notice some of the new builders are doing things a little bit differently. So they are saying you base- you do the base price, and that's all, and then all your upgrades are done after the fact. And I'm thinking, well, that kind of takes away all of the negotiating power of the buyer. 'Cause if the buyer agrees on the base price, and, you know, they've, they've gone through their cooling off period, they've had their lawyer review, they firm up on it, and now the builder says, "Now you can come and tell me what you want to have as extras," they have very little to no negotiating power on those extras 'cause they're already committed to the purchase. I don't understand why some of those builders are not allowing you to go in and say, "I'm gonna buy X house, and I'm gonna pay you this much money, and I want these upgrades in it, and I want you to negotiate on the price." We know that the builders usually never negotiate on their base price, right? It's what you see is what you kinda get. But where you had some play with it was in those upgrades. But them doing it that way totally removes the buyer's position to be able to upgrade, 'cause they're already committed to the house. The other thing that I heard in talking to a realtor recently, just when this announcement of the, um, tax exemption on new homes was, "Well, we- we'll see. We've got-- we've had some more activity here on our houses, and now... But the houses are a little bit less. Uh, you know what? We don't know. Maybe the builder's gonna increase the prices." And I went, "Well, that kinda defeats the whole purpose." It does. Right? It does. 'Cause now they're saying, "Oh, well now, this new house that was a million yesterday is now $870..." No, $970. No. "... is $870, and oh, you know what? I think we could kinda push it a little bit more than that." And they start raising- Well, yeah ... the price. And you know what? That, that comes... But that comes down to supply and demand and how competitive you wanna be, right? So, I think the difference between builders and resale is resale, no two houses are ever alike. With the builder, they're selling a model that's all the same. So, I think for the builder to, to drop their price for one person and not another, I think that's why they keep their prices the same. However, you know... Uh, yeah, I know. I know. I mean, I'm not, I'm not... You know, there's a lot of things I think that go on in the building world that, that I don't understand. But... And, and that could happen. It's all, it's all supply and demand. But the issue is, if we d- this is what I was saying earlier, like, there has to be some building along with these incentives because if there's not enough housing, that's where the prices start to get, start to get driven up, right? So, if builders build more houses, then they're going to have to be competitive with their pricing because it's supply and demand, right? If that happens, that the builders do increase their price, you're absolutely right. It will be s- supply and demand that takes over, and that will then maybe shift the demand from the builder back to the resale, which- In any case, it's gonna continue everybody moving up in the series. 'Cause if the builders have d- determined, okay, we're gonna put the price up, and you can still buy something resale for less. One of the reasons that resale is less is 'cause it doesn't have HST on it, right? When you buy a resale home, there is no HST, so there's no HST to take off. So, I think that that- it, that's important to think if the builders put the prices up, the people still have the choice to go to resale. Yeah, and the oth- the other thing is, like, I, I think when you're comparing, if you talk about pricing, it, it's unfair to compare the resale market pricing to new home builders, right? Because it's the same way they sell cars. So, you buy a, y- you know, you buy a base model of a car, and then depending what they add on, it's more money. Where, so if you're buying from a builder, you're paying that base price. Any upgrades that you do have to be paid in cash. That's not added to the price of the house, right? And then you need fencing, and you need landscaping, and you need- Right ... all these other things. Their closing costs are way, way higher for new home construction than they are for resale. Whereas in a resale house, you're getting, you're getting what you get. You're getting what's on the floor. You're getting... You know, you're not paying for those things extra. And so it's really hard to compare the pricing on new construction to... 'Cause people, that, I think that's why people used to think that new construction was less money. But when you look, truly look into it, it's not less money because now you need curtains or window coverings and upgraded light fixtures and all of that stuff. Anything that you're adding on is being paid in cash after the fact. It's not being paid on the price of the house. And a tree. A tree. Hu- 100%. A tree. And the hookup of your, of your gas meter, and- Yeah. And, uh, grading deposits and... I mean, let's be honest, right? It's like, it's like buying a car. Nobody... Everybody who buys a... And people don't buy a new build because they're cheaper. They buy a new build because they like the fact of moving into a house that nobody has lived in, right? I buy new, uh, whenever I buy a car, I buy a, a brand-new car. I know as soon as I drive off the lot, that car's not worth what I paid. However, I also know that it has a warranty, and I'm not gonna have to fix it, and so I will buy a new car. And it's the same thing with houses. Pe- they're not the same, you know, they're not... It, it's a different mindset when people buy a new house. It's not about being cheaper. It's about buying this brand-new house that I, you know, I picked, and I decided on certain things, so. It's in- it's interesting though. Mm-hmm. Yeah, so I think this is a really good-- I, I think this will be a, a really good shot in the arm for the, for the housing market this year. Um, I think it's still gonna be a rocky road, and there, there's a lot of things, there's a lot of things to understand about these rebates. So if you're thinking about buying a brand-new house, um, you need to, you need to understand, 'cause you don't wanna sign everything and then find out that you don't qualify for whatever reason. So make sure that you understand what you're signing and have somebody review it so you know if you are getting these rebates. 'Cause some builders, from what I understand, are taking those rebates off the price of the house, and some are not. So if you're just lo- if you're just looking at ads or you're just looking at things that builders are putting out and seeing a very big discrepancy in the price, you have to ask that question about is, is the rebate already, already factored in here, or is it going to be taken off later? Because you may think, "Oh, it's a million dollars," but the builder's already taken those rebates off, and then when you get there, you find out that there is no rebate. So there are some things you need to, you need to understand, and we also need to wait until these things come into law, 'cause they haven't been, they haven't been passed yet. They've just been proposed at this point. Yeah, I think it's gonna be a few weeks till we know exactly how it is gonna operate in the real world and not just sort of on paper. Uh, and, and I think that it, you know, ev- anyone that's thinking about doing it in the meantime really has to take counsel. Yeah, for sure. Absolutely. Okay, ladies. Thank you. We'll see you next week.