Threshold Raised on Property Transfer Tax for First-Time Buyers
Tom Ireland • February 24, 2017
The threshold for first-time buyers to pay property transfer tax has been raised, allowing you to buy more home without paying PTT. The post Threshold Raised on Property Transfer Tax for First-Time Buyers appeared first on Andy Schildhorn, PREC.
One of the biggest pieces of news from the recent provincial budget was that the threshold for first-time buyers to pay property transfer tax has been raised from $475,000 to $500,000. That’s an extra $25,000 of house that budding homeowners can buy without having to pay PTT. If you are planning to buy your first home and would like some advice, please give me a call!
The post Threshold Raised on Property Transfer Tax for First-Time Buyers appeared first on Andy Schildhorn, PREC.
SURREY, BC – The Fraser Valley market showed early signs of a spring thaw in February, with sales increasing over January, but continuing to trail typical levels for this time of year. The Fraser Valley Real Estate Board recorded 843 sales on its Multiple Listing Service® (MLS®) in February, a 36 per cent increase from January, but 38 per cent below the ten-year seasonal average. New listings declined nine per cent in February to 2,796, suggesting some sellers are choosing to wait amid competitive inventory levels, and may be positioning their homes for the peak of the spring market.
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The economics of building new homes in Canada are now "simply broken," sparking a macroeconomic drag that CIBC economists warn is just beginning to take hold. 👉 Details Here
