First-Time Home Buyer Incentives

So you're a first time homebuyer, and you want to know what options are available to you and what incentives there are available to you. Well, you've come to the right place because there's lots and our team cannot wait to help you with them.

Number one, as a first time homebuyer. Exciting news that was recently announced is that you can qualify with a 30 year amortization. It used to be 25 years. It is now a 30 year amortization, which ultimately increases your purchasing power.

Number two, as a first time homebuyer, you can withdraw from your rrsps tax free. So it helps you to increase the down payment that you have available to you without having any tax implications.

Number three, as a first time homebuyer in British Columbia, you have some exemptions to property transfer tax. Property transfer tax is a tax that we pay to the government any time we buy property in BC, and there are some really great exemptions for first time homebuyers to help save you money.

Give our team a call and we'll run through all the scenarios with you and talk about any changes there may have been as they're constantly changing. We look forward to hearing from you.