10 Things to Consider When Buying Your First Home
Posted on Jul 23, 2024 in First Time Home Buyers
Buying your first home is an exciting milestone, but it can also be a complex and daunting process, especially in a dynamic market like British Columbia (BC). Here are ten essential considerations to keep in mind to ensure a smooth and successful home-buying experience.
1. Determine Your Budget
Why It Matters:
Understanding your financial limits is cr...20 Most Frequently Asked Questions for First Time Home Buyers
Posted on May 01, 2024 in First Time Home Buyers
1. What is the first step in buying a home in BC?
Get pre-approved for a mortgage to understand your budget and the loan amount you might receive.
2. Are there any programs for first-time home buyers in BC?
Yes, BC offers the First Time Home...
First Time Home Buyer's Program
Posted on Apr 19, 2024 in First Time Home Buyers
- Property Transfer Tax Exemption:
- Full Exemption: For homes valued at $835,000 or less, but l...
Canada to Increase Mortgage Amortization for First Time Home Buyers
Posted on Apr 11, 2024 in First Time Home Buyers
As of April 2023, in Canada, the maximum amortization period for a mortgage with less than a 20% down payment and hence requiring mortgage loan insurance (typically from the Canada Mortgage and Housing Corporation, CMHC) is 25 years. This is due to regulations meant to ensure financial stability and manage the risk associated with longer loan terms...