B.C. First-time New Home Buyers’ Tax Bonus 2012

Published By: on February 24th, 2012 in Category Nanaimo Real Estate News
Published By: on February 24th, 2012 in Category Nanaimo Real Estate News

Tuesday Feb. 20 the B.C. Provincial Government announced a new income tax bonus of up to $10,000 for first time home buyers who purchase a new home. Effect from Feb.21/12 to March 31/13 this bonus will be prorated according to household income and the price of the home, but the levels are pretty reasonable. For example a couple who’s total income is $150,000/yr or less who is buying a home that is over $200,000 will receive the whole $10,000. Of course there are other requirement such as residency. This is good news for builders and for buyers.

So here’s the list of reasons why this is good time for First Time Home Buyers to jump into the housing market:

1. Great low mortgage rates

2. If buying new – up to $10,000 provincial tax rebate

3. Federal tax refund of up to $750

To see more details go to the B.C. Government press release.

NOTE: This any other HST rebate decisions are subject to legislative approval.

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Love Real Estate Group proved an invaluable help when helping us through the maze of buying a new home, especially when for us it was our 1st home in a new country. No problem was too big and their fun approachable demeanours meant that the whole process was a lot less stressful than it might’ve otherwise been.

Julie & Stuart Ockelford

We had been planning a move from Calgary to Nanaimo for retirement purposes for a few years. Upon discovering Love Real Estate Group a relationship began. Over a period of time, with patience, professionalism, good humour and integrity, Love Real Estate Group helped us secure a home that met our needs and our wishes. We are happy to recommend Love Real Estate Group to anyone looking to buy a property in the Nanaimo area.

Diane and Tom Crawford