Spring has Sprung, and the Real Estate Market is Active!
Aaah, Spring! Longer days, tulips and daffodils, and it's warming up. The 2024 BC Budget has brought changes to the Property Transfer Tax Exemptions on Newly built homes so long as the fair market value does not exceed $835,000 or $1,100,000. Also, they have introduced a "Flipping Tax" on pre-sale contracts if it is sold within the first 2 years. The Federal Spring Budget has also changed to include income made from a "flipped" property within the first 12 months be deemed a "business income instead of capital gain." Always something new in Provincial and Federal Real Estate!
Aaah, Spring! Longer days, tulips and daffodils, and it's warming up. The 2024 BC Budget has brought changes to the Property Transfer Tax Exemptions on Newly built homes so long as the fair market value does not exceed $835,000 or $1,100,000. Also, they have introduced a "Flipping Tax" on pre-sale contracts if it is sold within the first 2 years. The Federal Spring Budget has also changed to include income made from a "flipped" property within the first 12 months be deemed a "business income instead of capital gain." Always something new in Provincial and Federal Real Estate!
Oh by the way......whenever you come across a friend or family member who is thinking about Buying or Selling a Home, and they would appreciate the kind of service I offer, then I'd love to help them. Referrals are always rewarded!
Feel free to stay awhile, check out my Blog, Listings and Testimonials.
Do you have the right Real Estate Representative for the right market?
Feel free to stay awhile, check out my Blog, Listings and Testimonials.
Do you have the right Real Estate Representative for the right market?
