As everyone has returned from summer holidays, activity has picked up and the fall market is in full swing. In the recent Real Estate Weekly, CIBC’s chief economist wrote a column stating that BC will lead in housing sales over the next decade and that current media coverage is highly exaggerated. (Click here to read full article: http://issuu.com/rew1/docs/ly-sep7 )That being said, when you are making a home decision, plan to be in the home for 5 years. Don’t make a decision based on fear or speculation—make a decision based on what you want, need, and can afford. Be realistic.
First Time Home Buyers Opportunities = FREE MONEY & Candy Store Selection of Supply
- $10,000 Buyers incentive that is only available until March 31, 2013
(New Construction purchase)
- Save on the property purchase tax (Properties under $425K)
- Use your RRSP savings towards your down payment
- $750 tax credit (CASH).
For those of you who have not owned in the last 4 years, you can also qualify for the $750 CASH incentive. I will be hosting a short, informal seminar later this month for home buyers. I will be covering these grants, as well as what you need to do to get them.
With prices being steady, it presents a great opportunity for those who want to upsize. Interest rates are still at all time lows, and for properties that have suite potential, often times it costs less per month to live in the house than it would to live in a townhouse: more space, a backyard, and a similar monthly payment.
Be sure to call me before you decide to buy or sell.
604-910-LACE (5223)
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