Great News for First Time Home Buyers!

In case you have missed it, the BC Provincial government recently announced changes to the exemption limits for the First Time Home Buyer exemption, commencing February 19, 2014.

Prior to the change, the First Time Home Buyer Exemption was capped at $425,000.00 and there was a sliding scale between $425,000.00 and $450,000.00.  The new cap effective Feb. 19, 2014  is $475,000.00 and there is a sliding scale between $475,000.00 and $500,000.00.
This means that any purchase up to $475,000, the First Time Home Buyer doesn’t pay any Property Transfer Taxes, a savings of thousands of dollars!

About the Author Rom Houtstra

Rom Houtstra is a licensed and experienced Kelowna Real Estate Agent for almost 12 years with Century 21, the largest Real Estate Company in the world with over 8000 offices in 44 countries. He is committed to providing top service when it comes to selling or buying Residential or Commercial real estate and Businesses. Ask him about his comprehensive Marketing Plan and Listing Presentation. If you are looking for properties in Kelowna, West Kelowna, Vernon, or in other areas of the Okanagan Valley contact Rom.

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