LOOKING BACK AT
2020
This year was a challenging one for everyone, and we want to extend our gratitude to all of our clients for allowing us to help them navigate through the uncertainties. We feel honoured to be able to help. The referral of your friends and family is the greatest compliment you could ever give; we appreciate that so much of our business comes from referrals. Have a blessed 2021!
Thank you! PRO TIPS:
First Time Home Buyer Aid
Buying your very first home is no small decision. There is much more involved than just “finding the house”. You may find there are more costs involved than you had imagined. It’s bigger than just saving enough money for your downpayment. Things such as legal fees, inspections, taxes, insurance, and moving expenses should all be part of consideration when making your decision. First-time home buyers in Canada are fortunate to have access to some programs available to help them in their venture. The following are four first-time home buyer programs you may qualify to apply for when you are ready to move forward.
The Home Buyers’ Plan (HBP)
This program is offered through the Canadian Revenue Agency (federal program) and allows a first-time buyer to withdraw up to $35,000 tax-free from their registered retirement savings plan (RRSP) to use as a loan to buy (or build) their first home. To qualify, you must be a first-time home buyer, have an agreement to buy or build, and you must plan to live in the qualifying home as your principal residence within one year after purchase. This money must be repaid within a 15 year period to avoid any penalties.
GST/HST New Housing Rebate
This program is specific to Canadians buying a newly constructed property (or substantial renovations to your existing home). The GST/
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CENTURY 21 Able Realty
