Foreign Buyers Tax Update

In recent real estate news, the Foreign Buyers Tax has been removed for those with work permits.

In August 2016, the government announced a Foreign Buyers tax that added an automatic 15 percent levy to foreigners purchasing residential property in Metro Vancouver. While the tax was brought in to help slow down out-of-control real estate prices, it also negatively affected those with work permits who were wanting to live and work in the region. There’s good news for this group though: the government recently removed the Foreign Buyers tax for people with valid work permits. This opens up opportunities for them to invest in real estate in our area meaning they can also have a place to call home. 

The Buzz Around Aldergrove

So far, we are working on clearing the land and letting the community know there is something special coming to their neighborhood.

We’ve put our first information sign up on the property (you may have already seen it) and registration is well underway. We are finalizing really great floorplans that take into consideration what’s needed in a townhome today. No detail is being left to chance! We are putting the finishing touches on new specs we’ve discovered and cool features we think will resonate with Gramercy home buyers. As more details develop, we’ll be sure to keep you posted! Its been fun getting to know the Aldergrove community and all it has to offer…so green and beautiful!

As an interested potential purchaser looking for a home, we also want to keep you up-to-date on the latest in real estate news. The BC Government is now helping first-time home buyers get into the housing market. They have started a new program that loans a home buyer the matched amount to their down payment, up to $37,500, on an interest free loan for the first 5 years. Wow,  that’s a lot to take in! If you are a first-time home buyer, this is definitely something you are going to want to look into!

This too shall pass…but hopefully not too soon!

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All over the city, the snow is sticking and giving everything a magical feel. The temperature is dipping lower than its been for a long time and everyone is digging deep into their “winter” supply looking for that long lost parka they know they used to have somewhere! When you find it, get outside, enjoy the Season, take care and stay safe and warm!

 

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