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The new provincial budget has good news for first-time homebuyers. The Property Transfer Tax (PTT) exemption limits were raised so more homes qualify. Now, homes up to $475,000 are fully exempt and homes up to $500,000 are partially exempt. The previous limits were $425,000 and $450,000, respectively.

 

The PTT is charged by the BC Government on home sales upon completion (the day you legally own the home). It's calculated as 1% on the first $200,000 of home value and 2% on the balance.  A qualifying first-time homebuyer will happily save $7500 on a $475,000 home.

 

Click here to learn more about the program and to see whether you qualify as a first-time homebuyer.

 

 

 

 

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I just resurrected my blog! I used to regularly post to my blog but a dark day occurred when Twitter bought and shutdown my previous blog platform. This time, I’ve integrated my blog with my main website to avoid interruptions.

 

Here you'll find posts related to Buyers, Sellers and general Vancouver Lifestyle features. If you sign-up for my email newsletter, you’ll be able to select which posts you want emailed directly to you to save time and tailor content to your interests.

 

Happy reading!

 

Jason

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Vancouver City Council continues to astonish the world and the city by its mixed use development opportunities, which many find to be the heart of the new city. This new mixed use development now contains a new modern church on the main floor. This is quite a different approach to the grocery stores, retail shops, offices and facilities that usually go hand in hand with a new development.

This is also the city known for North America’s first urban Costco which is located in the basement of the Spectrum condo complex next to Rogers Arena. — VanCityBuzz

This has not yet been approved but an application for this 22-storey mixed use rental development at the corner of Thurlow and Pendrell streets. This project is being spearheaded by the Central Presbyterian Church that already exists at the current location. Along with the new improved church will be a new arts centre for community use.

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