Home Buyers Recession Period
The Home Buyer Rescission period gives home buyers the right to withdraw from a home purchase agreement within three business days after an offer is accepted. The home buyers rescission period, hbrp came into effect in January 2023. This legislation allows for a three-day cooling-off period where a buyer can back out of their residential […]
First Time Home Buyers Savings Account – Here is what you need to know
First Time Home Buyers Savings Account – Here is what you need to know The First Time Home Buyers Savings Accounts are now available. Some institutions aren’t taking deposits for this type of account yet, while others are accepting deposits already. Under the program, first-time home buyers can save $40,000 tax-free towards their home purchase. […]
Foreign Buyers Ban Updates!
Updates for Foreign Buyers Ban The federal government has updated the foreign buyers ban, relaxing the rules. Below is a list of the updates from the foreign buyers ban. Enable more work permit holders to purchase a home to live in while working in Canada. The amendments allow those who hold a […]
Underused Housing Tax – What you need to know!
Underused Housing Tax – in effect as of December 31st, 2022 – What you need to know A new tax has hit the streets and the pocketbooks of Canadians, and it goes by the name of UHT – Underused Housing Tax. If you own an investment property that is registered with land titles as partnership, […]
BC Lacking Enough Housing to Solve Supply Problem
B.C.’s housing inventory lacking ‘right supply’ to resolve affordable housing crisis According to a newly-released Union of BC Municipalities (UBCM) report, B.C.’s housing inventory is keeping up with population growth but lacking the “right supply” to resolve the affordable housing crisis. The report shows that the province’s population grew 7.6 per cent while the number of […]
Langley and Surrey Condo Owners Need to know about BC Strata Property Act Actionable Changes.
Strata Property Act Changes that affect Langley and Surrey Condo owners On November 2, 2022, the BC Government ended rental and age restrictions for strata properties. Currently, all strata-held properties with age restrictions and/or rental restrictions must remove those restrictions from the bylaws as they can no longer be enforced. Age Restrictions Communities are still […]
Buying Fraser Valley Real Estate? Beware of the Foreign-Home Buyers Ban Coming into Effect on January 1st, 2023.
Is this ban a good thing for buying Fraser Valley Real Estate? Some say no. Throughout the years Canada has become increasingly unwelcoming to foreign investment. As home prices rose, negative sentiment ensued, starting in 2016 with a foreign buyers tax of 15% and increasing to 20% in 2018. Now Canada is introducing a national […]
These affect you! 2 great changes to the Rules of Co-Operation for BC Real Estate for Sale
If you live or own property somewhere between Whistler to Hope in BC, then the changes to the rules of cooperation affect you. BC is home to over 25,000 licensed realtor members of the 8 Real Estate Boards operating in the province. One of the primary marketing tools used by agents in BC is Realtor.ca, […]
Beware of Changes – BC to Introduce 9 Changes to the Real Estate Rules
Seven changes coming soon to the real estate rules in BC Real Estate Rule Changes If you live in BC or are invested in BC real estate, you’ve had a front seat to the unfolding of the drama that is BC’s ever-changing and currently unstable housing market. The BC and Fraser Valley markets went almost […]
Homebuyer Protection Coming Soon in Langley
Homebuyer Protection | Liz Penner