Maximize Savings on Your New Home
Are you in the market to
buy a new home for the first time? Then we have exciting news for you. Recently, the Government
of Canada announced that they have increased the threshold of the Property Transfer Tax (PTT) exemption for First Time Home Buyers.
All qualifying first-time buyers are now PTT exempt on homes valued up to $475,000, a full $50,000 more than the previous $425,000. Thanks to this change, even more first-time home buyers are eligible to save up to $7,500 on PTT on their homes.
Something else to keep in mind as you are searching for your new home, the Canada Mortgage and Housing Corporation (CMHC) had announced last week that they will be increasing Mortgage Insurance Premiums effective May 1, 2014. To maximize your savings on your new home purchase, now is the time to visit us to help you with your CMHC financing application before this change happens on May 1st.
For more information on the Property Transfer Tax, please visit the Government of British Columbia’s website here. More details on the CMHC Mortgage Insurance Premium can be found here.
We invite you to contact our knowledgeable team in to discuss these new developments surrounding your home purchase or if you have any questions. You can find the locations and contact details to any of our Presentation Centres here.
