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Tag: Kelowna home buyers survey

  • If you bought your very first home in 2014, the Canadian Government wants to give you $750!

    This is how the First Time Homebuyer Tax Credit works:

    The initial costs associated with purchasing a home can be a particular burden for first-time homebuyers especially when added to the money required for a down payment.
    To assist first-time homebuyers with the costs associated with the purchase of a home, the Government of Canada introduced a First Time Homebuyers Tax Credit (FTHB) in 2009.
    The HBTC is calculated by multiplying the lowest personal income tax rate for the year (15% in 2009) by $5,000. For 2009 (and still in 2014), the credit will be $750.
    For more information on this great plan, please click on the following link:

    http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhbtc-eng.html

  • Okanagan Home Buyers Survey August 2013

    AUGUST SURVEY SUMMARY

    Property Type:
    25.4% of purchases were by Move-Up Buyers  (up from 22.8% in July)*
    17.3% by First Time Buyers  (down from 17.9%)
    13.5% moving from Single Family Home to Strata Unit  (up from 9.8%)*
    11.2% buying Recreation Property  (up from 10.8%)*
    8.5% buying Revenue/Investment Property  (down from 11.0%)
    6.5% moving into Retirement Home/Seniors Community  (up from 4.5%)*
    3.5% moving from Strata property to Single Family Home  (down from 5.7%)

    * During the month of August, there was a significant increase in purchases by move-up buyers, home owners downsizing to strata units and retirement communities, as well as recreation property buyers, while other categories saw a drop from the previous month.

    Buyer Type (Family Dynamic):
    25.3% Two Parent Family/Children (up from 24.0% in July)**
    23.4% Couple without Children (up from 23.2%)**
    20.1% Empty Nester/Retired (down from 23.2%)
    13.8% Single Female (up from 12.2%)**
    11.2% Single Male (down from 14.2%)
    4.5% Single Parent with Children (up from 2.0%)**

    ** In August, there were more purchases by two parent families and couples without children, and by single females and single parent families, while all other categories saw decreases.

    Moving From:
    50.7% from Within OMREB Board Area  (down from 54.7% in July)
    21.6% from Alberta (up from 14.8%)***
    10.8% from Other Areas in BC  (up from 10.5%)***
    9.0% from Lower Mainland/Vancouver Island  (down from 12.1%)
    3.4% from Saskatchewan/Manitoba (up from 2.0%)***
    1.9% from NWT/Yukon (up from 0.8%)***
    1.5% from Eastern Canada/Maritimes (down from 3.5%)
    1.1% from Outside Canada  (down from 1.6%)

    *** Compared to July, there were more buyers moving from Alberta, other areas of BC, Saskatchewan and Manitoba, and the Northwest Territories and Yukon, but less movement from within the Board area and fewer purchasers from the Lower Mainland and Vancouver Island, Eastern Canada and the Maritimes, and from outside Canada during August.