Aleya Bhaloo

Cell: 604-209-4504 |

Categories

Great News For First Time Home Buyers!!

Thrilled to share the new budget increase in Property Transfer Tax Exemption for First Time Home Buyers!

On February 18, 2014, Finance Minister Mike de Jong presented the BC government's Balanced Budget 2014. It announced, effective February 19, 2014, under the Property Transfer Tax (PTT) First Time Home Buyers' program, qualifying first time buyers can buy a home worth up to $475,000 while being exempt from the PTT.

The previous limit was $425,000. Full savings amount to $7,500. Yet, the partial exemption continues and will apply to homes valued between $475,000 and $500,000. (refer to PDF chart here)

With this change, the government estimates 1,700 additional first-time buyers will annually be eligible to save up to $7,500 in PTT when they buy their first home.

For more information, please visit: First Time Home Buyers' Program. Feel free to reach out to me if you or anybody you know has any questions about this.

 http://www2.gov.bc.ca/gov/topic.page?id=BBD16E2D7C1841A7BBD420E3AC5380F1

Comments:
No comments

Post Your Comment:

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.