February 2018

BC Budget 2018 changes to Property Transfer Tax that come into effect on February 21, 2018

Posted on Feb 21, 2018 in Government News

Below is a summary of the key real estate measures announced.

Affordable housing
  • The province is investing $6 billion in affordable housing to create 114,000 homes over the next 10 years.
  • The province will enhance local government capacity to build and retain affordable housing.
  • The province will require developers to collect and report comprehensive i...

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BC Legalizing Marijuana  - New Rule Changes coming in effect soon....

Posted on Feb 06, 2018

Global TV recently aired that the Province of BC is going to soon allow 4 marijuana plants to be legally grown per household by adults over the age of 19. The problem with home cultivation is it raises concerns for myself as a REALTOR® and is begging the question how is our current real estate legislation and mortgage financing going to be affected...

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Extra Costs When Buying a Property

Posted on Feb 01, 2018

Ever wondered about the extra costs of buying a property besides the purchase price?

1%  Property Purchase Tax
A successful purchase starts with budgeting for the closing costs. Not only do you have to plan to have enough to pay the lawyer or notary, but the 1% Property purchase tax is a big part of this as well. Most people must pay this tax, althoug...

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