Before we get started, please consult with your lawyer, accountant and realtor about your specific situation and HST.
You don’t pay HST on a resale condo or house (meaning, one that is already built, registered and occupied).
You might have to pay HST on a new construction condo.
If you are residing in the new construction condo as your principal residence, you do not have to pay HST in addition to the purchase price. It will actually be ‘baked into’ the price and the developer pays it on your behalf.
If you are an investor and plan to rent out your condo, you will have to pay the HST BUT, provided you rent out your condo for a full year within a specified period of time after taking occupancy, you can apply for a rebate of up to $24,000 of the HST you pay. The HST you do pay is a modified amount and not simply 13% of the purchase price. Again, dig through the contract you’ve signed to understand the HST implications.
Final note – you pay the HST when the building registers and when you get your mortgage. Not when you occupy the unit.