There are many things that can affect the market value of a property, ranging from interest rates to home improvements to the mood of the seller. Below are some of the key dynamics that tend to have the largest influence on home values that every homeowner or aspiring homeowner should be aware of. These factors […]
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BC Property Transfer Tax Rebate
First Time Home Buyers in BC qualify for a rebate equal to the full amount of their property transfer tax up to a maximum purchase price of $500,000To qualify for the BC First Time Buyers PTT Program, you must meet the following criteria. There is a full rebate of the property transfer tax amount up […]
First Time (Repeat) Buyers – 5% Down Program
Every buyer of a principal residence, no matter if you’re a first time buyer or have bought ten times prior, is eligible for the 5% down program. When buyers between 5% and up to 20% down, the mortgage must be insured by one of Canada’s 3 mortgage insurers (CMHC, Genworth & Canada Guaranty). -The maximum […]
RRSP Home Buyers Plan
The Canadian government’s Home Buyers’ Plan allows first time home buyers to borrow up to $25,000 from your RSP for a down payment, tax free. If you’re purchasing with someone else who’s also a first time home buyer, you can both access $25,000 from you RRSP for a combined total of $50,000. However, since the […]