BUYING A HOME
First-time home buyers may be exempt from paying the property transfer tax (PTT) of 1% on the first $200,000 and 2% on the remainder of the purchase price of a home priced up to $475,000. There is a proportional exemption for between $475,000 and $500,000. At $500,000 and above the rebate is null.
Canada Revenue Agency's Home Buyers' Plan lets qualifying home buyers use up to $25,000 of their Registered Retirement Savings Plan (RRSP) to buy a home. Couples can use up to $50,000. The home must be the principal residence, the home buyers must not have owned a home within the past five years and the loan must be repaid within 15 years.
The First-Time Home Buyers' Tax Credit (HBTC) of up to $5,000 assists buyers with the costs associated with the purchase of a home, such as legal fees, disbursements and land transfer taxes, which are a particular burden for first-time home buyers, who must also save for a down payment.
From equity gain (appreciation), cash flow (rental income), quality of living, and cost (interest rate), real estate investment in Vancouver compares favourably to those in Shanghai and Beijing. <Click here for detail analysis>
Thinking of Buying?
We understand the relationship between homebuyers and Agents must be based on trust, mutual goals and understanding–this is why we always keep your interests first and foremost. The real estate process requires negotiation of complex issues; we are committed to working in your best interests. We will help you secure the best possible price, with the most favorable terms, in the shortest period of time.
When searching for your dream home, it’s important to be well informed of the Real Estate market. To help you with this process, consider the following factors: What features do you require in a home to satisfy your lifestyle now? Five years from now? Will your needs change? What’s your budget? These are decisions only you can make, but we will do everything possible to match you with your dream home.