My Blog - News, Updates and Statistics 

Buying and Selling Canadian Property: An Overview for Non-Residents

(May 18, 2014, posted in Real Estate Resources)

Non-Residents Buying Canadian Real Estate

There are no restrictions for non-residents purchasing real estate in Canada, though they may become subject to Canadian income tax laws, and will certainly encounter the following taxes on their transactions:

Property Transfer Tax (British Columbia) – The tax rate is one per cent on the first $200,000 of the property's fair market value and two per cent on... read more.

Should You Skip a Mortgage Payment?

(March 07, 2014, posted in Real Estate Resources)

Lenders are advertising the option of skipping a mortgage payment more often these days – with one major bank even creating a TV ad!

But unless this is your only option, it’s not recommended that you skip a payment because, like most ads that sounds too good to be true, this option is as well.

The banks want you to think they’re advertising the option to skip a payment to do you a favour. But it’s i... read more.

BC Government reduces tax burden on first-time buyers

(February 18, 2014, posted in Real Estate Resources)

First-time home buyers received welcome news in today’s provincial budget. 

The government has announced, effective February 19, 2014, under the Property Transfer Tax (PTT) First-Time Home Buyers’ Exemption program, qualifying first-time buyers can buy a home worth up to $475,000. The previous threshold was $425,000.

The partial exemption continues and will apply to homes valued between $475,000 and... read more.

Nate's Mortgage Update - January 2014

(January 31, 2014, posted in Real Estate Resources)

I'd like to share a mortgage rates update from Nate McAvoy, Mortgage Broker with Dominion Lending Centres. If you are a first time buyer or are considering refinancing, here is a concise update on the current mortgage rate situation.

As we head towards the spring market, mortgage rates continue to be a major question for those looking to buy a home. Concerns about rising rates linger and there appe... read more.

Depreciation reports now required for most stratas

(January 28, 2014, posted in Real Estate Resources)

Strata Properties VancouverStrata corporations with five or more units must now provide the most recent depreciation report as part of the new Information Certificate (Form B).

Strata corporations of four or fewer strata lots are not required to provide a depreciation report. A strata corporation can exempt itself from the obligation to obtain a depreciation report by passing a resolution with a 3/4 majority vote at an annua... read more.



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