How much is the property transfer tax in BC and how can I be exempt from it? First Time Buyers, having never held title to a home anywhere in the world, can be exempt from this tax if you purchase for $500k or less. From $500k – $525k there is a partial exemption. If you […]
First Time Mortgage Tips
4 Ways To Make The Process Smoother
Mortgages are complicated—we get it! But there are steps that you as a homebuyer can take to make the process a much smoother one (plus let you walk away with the sharpest rate!) 1. Use a Broker This should be the first step you take when getting a mortgage! Enlisting a trusted broker to work […]
4 Costs to Consider as a First Time Buyer
Oftentimes even the most organized and detail oriented first-time homebuyer can overlook some unexpected costs that come with the purchase of their new home. We are outlining 4 of the costs that we most commonly see overlooked by home buyers in hopes that we can better prepare you—and save you from a few surprises! 1. […]
CMHC’s First Time Buyer Program
Starting on September 2, 2019, the First-Time Home Buyer Incentive will help middle class families take their first steps towards homeownership by reducing monthly mortgage payments required for first-time homebuyers without increasing the amount they need to save for a downpayment. This program complements other measures taken in Budget 2019 to support first time homebuyers with their […]
7 Steps To Buying A Home
It’s important to understand the home buying process, so here’s a 7-step checklist. Step 1: Down PaymentThe hardest part to buying a home is saving the down payment (a gift from the Bank of Mom & Dad also works).• For purchases under $500,000 minimum down payment is 5%.• Buying between $501-999,000 you need 5% on […]