Property Transfer Tax Savings on a new BC Home

BC Property Transfer Tax on a New Built Home

 

If you are having a house built in BC do not miss this saving!
 
The Newly Built Home Exemption reduces or eliminates the amount of BC property transfer tax you'd pay on  a newly built home valued under $800,000.  Of course, there are a lot of exceptions and regulations concerning this plan that will stimulate the real estate new construction industry but it can be a sizeable saving for Canadians or permanent residents of such dwellings. 
 
And there will be windows too!
A property valued at $750,000 is going to potentially save the buyer $13,000 in property transfer taxes! There is a partial exemption between the values of $750,000 to $800,000.
 
 
I like this plan, it stimulates local economies as a throng of trades people are needed, materials purchased and hopefully somewhere along the line a real estate agent to help simplify the process.

Imagine living here....and keep an eye on tax savings!