If you have been sitting on the fence, wondering about whether or not to purchase your first home, 2012 is shaping up to be a great year!
In the 2012 BC Budget released on February 21, 2012, The First-Time New HomeBuyers’ Bonus was unveiled, meaning a major savings for first-time buyers looking to purchase a new home.
Here are the basics of how it works:
Purchasing a new home directly from a builder, between February 21, 2012 and March 31, 2013, qualifies you for a maximum $10,000 refundable tax credit.
To qualify, you must:
- Have never owned a home before.
- Reside in the purchased home.
- Purchase your home between February 21, 2012 and March 31, 2013.
- Have a net income below $200,000/year (tax credit is pro-rated by your household income – refer to the BC guidelines for your specific income situations and details.
With interest rates as low as they are and this tax credit, there is not likely to be a more affordable time to get into your first home. We are also happy to work with builders if you would like to build a DrummondHousePlans model or have one modified to suit.
We have experience in dealing with all parts of BC and are happy to assist in any way possible through this process.
When looking through the DrummondHousePlans, remember that you can sort them in a number of ways, including by popularity or by square footage – or just have a leisurely wander through the entire site.
If you need help narrowing it down, we are happy to assist with personal searches and any questions you may have regarding building your first home. Also, as a member and Director of the local Canadian Home Builders’ Association, we have access to many of the people you will need to make your new home a reality.
We would love to be part of the excitement and joy of your first home! Local contact info here…