Please visit our Open House at 122 2499 RABBIT DR in Tsawwassen. See details here
Open House on Sunday, March 3, 2024 2:00PM - 4:00PM
Welcome home to this bright 1-bedroom + den unit in the brand new "Salt & Meadows" with stunning ocean and mountain views and the convenience of ground-level living. Inside features a modern living space with top-of-the-line appliances and luxurious finishes. The gourmet kitchen features quartz countertops, sleek cabinetry, and premium stainless steel appliances. Plus, this unit has been UPGRADED to include A/C and EV-ready parking. Full size in-suite laundry and a private patio with your own private entryway. Enjoy access to amenities, including a full gym, outdoor pool and hot tub, meeting rooms, playground, and a dedicated dance/yoga studio. Schedule your private showing today and make this stunning condominium your new home! OPEN HOUSE Sunday March 3, 2-4 pm
Please visit our Open House at 102 2499 RABBIT DR in Tsawwassen. See details here
Open House on Sunday, March 3, 2024 2:00PM - 4:00PM
Welcome to your tranquil oasis in the brand new "Salt & Meadow". This ground-level 1-bed unit offers the perfect combination of luxury, comfort, and convenience. Situated on the quiet side of the building, this unit boasts breathtaking mountain views and a private patio, ideal for relaxing or entertaining guests. The unit is bright inside with a functional floor plan, top-of-the-line appliances and high-end finishes. The kitchen features quartz countertops, sleek cabinetry, and premium stainless steel appliances. BONUS: this unit has been UPGRADED to include A/C and EV-ready parking. Enjoy access to amenities, including a full gym, outdoor pool and hot tub, meeting rooms, playground, and a dedicated dance/yoga studio. Schedule your private showing today! OPEN HOUSE Sunday March 3, 2-4 pm
Please visit our Open House at 122 2499 RABBIT DR in Tsawwassen. See details here
Open House on Saturday, February 24, 2024 2:00PM - 4:00PM
Welcome home to this bright 1-bedroom + den unit in the brand new "Salt & Meadows" with stunning ocean and mountain views and the convenience of ground-level living. Inside features a modern living space with top-of-the-line appliances and luxurious finishes. The gourmet kitchen features quartz countertops, sleek cabinetry, and premium stainless steel appliances. Plus, this unit has been UPGRADED to include A/C and EV-ready parking. Full size in-suite laundry and a private patio with your own private entryway. Enjoy access to amenities, including a full gym, outdoor pool and hot tub, meeting rooms, playground, and a dedicated dance/yoga studio. Schedule your private showing today and make this stunning condominium your new home! OPEN HOUSE Fed 24/25, 2-4pm
Please visit our Open House at 122 2499 RABBIT DR in Tsawwassen. See details here
Open House on Sunday, February 25, 2024 2:00PM - 4:00PM
Welcome home to this bright 1-bedroom + den unit in the brand new "Salt & Meadows" with stunning ocean and mountain views and the convenience of ground-level living. Inside features a modern living space with top-of-the-line appliances and luxurious finishes. The gourmet kitchen features quartz countertops, sleek cabinetry, and premium stainless steel appliances. Plus, this unit has been UPGRADED to include A/C and EV-ready parking. Full size in-suite laundry and a private patio with your own private entryway. Enjoy access to amenities, including a full gym, outdoor pool and hot tub, meeting rooms, playground, and a dedicated dance/yoga studio. Schedule your private showing today and make this stunning condominium your new home! OPEN HOUSE Fed 24/25, 2-4pm
Please visit our Open House at 102 2499 RABBIT DR in Tsawwassen. See details here
Open House on Saturday, February 24, 2024 2:00PM - 4:00PM
Welcome to your tranquil oasis in the brand new "Salt & Meadow". This ground-level 1-bed unit offers the perfect combination of luxury, comfort, and convenience. Situated on the quiet side of the building, this unit boasts breathtaking mountain views and a private patio, ideal for relaxing or entertaining guests. The unit is bright inside with a functional floor plan, top-of-the-line appliances and high-end finishes. The kitchen features quartz countertops, sleek cabinetry, and premium stainless steel appliances. BONUS: this unit has been UPGRADED to include A/C and EV-ready parking. Enjoy access to amenities, including a full gym, outdoor pool and hot tub, meeting rooms, playground, and a dedicated dance/yoga studio. Schedule your private showing today!OPEN HOUSE Feb 24/25, 2-pm
Please visit our Open House at 102 2499 RABBIT DR in Tsawwassen. See details here
Open House on Sunday, February 25, 2024 2:00PM - 4:00PM
Welcome to your tranquil oasis in the brand new "Salt & Meadow". This ground-level 1-bed unit offers the perfect combination of luxury, comfort, and convenience. Situated on the quiet side of the building, this unit boasts breathtaking mountain views and a private patio, ideal for relaxing or entertaining guests. The unit is bright inside with a functional floor plan, top-of-the-line appliances and high-end finishes. The kitchen features quartz countertops, sleek cabinetry, and premium stainless steel appliances. BONUS: this unit has been UPGRADED to include A/C and EV-ready parking. Enjoy access to amenities, including a full gym, outdoor pool and hot tub, meeting rooms, playground, and a dedicated dance/yoga studio. Schedule your private showing today!OPEN HOUSE Feb 24/25, 2-pm
I have listed a new property at 122 2499 RABBIT DR in Tsawwassen. See details here
Welcome home to this bright 1-bedroom + den unit in the brand new "Salt & Meadows" with stunning ocean and mountain views and the convenience of ground-level living. Inside features a modern living space with top-of-the-line appliances and luxurious finishes. The gourmet kitchen features quartz countertops, sleek cabinetry, and premium stainless steel appliances. Plus, this unit has been UPGRADED to include A/C and EV-ready parking. Full size in-suite laundry and a private patio with your own private entryway. Enjoy access to amenities, including a full gym, outdoor pool and hot tub, meeting rooms, playground, and a dedicated dance/yoga studio. Schedule your private showing today and make this stunning condominium your new home!
I have listed a new property at 102 2499 RABBIT DR in Tsawwassen. See details here
Welcome to your tranquil oasis in the brand new "Salt & Meadow". This ground-level 1-bed unit offers the perfect combination of luxury, comfort, and convenience. Situated on the quiet side of the building, this unit boasts breathtaking mountain views and a private patio, ideal for relaxing or entertaining guests. The unit is bright inside with a functional floor plan, top-of-the-line appliances and high-end finishes. The kitchen features quartz countertops, sleek cabinetry, and premium stainless steel appliances. BONUS: this unit has been UPGRADED to include A/C and EV-ready parking. Enjoy access to amenities, including a full gym, outdoor pool and hot tub, meeting rooms, playground, and a dedicated dance/yoga studio. Schedule your private showing today!
Posted on February 1, 2024 by Jemma Sallay-Carrington
The government has put together a few programs to assist first time home buyers in buying their first property in Vancouver, and some that are applicable to any home buyer, so make sure you familiarise yourself with these, and find out which ones can apply to your situation.
While you won’t literally be handed money, these programs can make your home buying journey more affordable!
First Home Savings Account
This is one of the newest programs available, which launched April 1, 2023. A First Home Savings Account (FHSA) is a registered plan allowing first-time home buyers to save for their first home tax-free. It is similar to an RRSP in that your contributions will be tax-free, and similar to a TFSA, in which your qualifying withdrawals will also be non-taxable.
To open a first home savings account you must be:
A canadian citizen
18 years or older
A first-time home buyer
Every year you can contribute $8,000 up to a lifetime contribution limit of $40,000. A maximum of $8,000 of unused contribution room can carry forward to the following year and the account can stay open for a maximum of 15 years or until the end of the year you turn 71. If you haven’t done so already, this is a good program to look into right away with your bank, so that when you are ready to purchase your first home you’ve already got a leg up.
First-Time Home Buyers’ Tax Credit
The First-Time Home Buyers’ Tax Credit is a non-refundable tax credit for first-time home buyers who buy a qualifying home.
Basically, you can recover some of the costs from your home purchase, which can offset those extra costs you paid such as legal fees, inspections or other closing costs. You and a spouse or common law partner can claim a combined $10,000, which at a tax rate of 15%, is a maximum of a $1,500 rebate.
Even if you’ve already owned a home in the past, this tax credit could apply to you as it also applies to those that haven’t owned a home in more than 4 years. Though if you don’t owe any income tax the year you buy a home, there is no benefit to this tax credit.
First-Time Home Buyers’ Incentive
The First-Time Home Buyers’ Incentive is a program built to help home ownership become more achievable for first-time home buyers by reducing their monthly payments. In short, it is a shared-equity mortgage with the Government of Canada.
The loan amount can range from 5-10% of the home's purchase price, depending on the type of home, which can be put towards your down payment to reduce your monthly mortgage costs. The loan is not interest-bearing and does not require ongoing payments. However, you have to repay the loan within 25 years or when the property is sold, whichever comes first. You can also repay this loan anytime without a penalty.
First-Time Home Buyers’ Program
The First-Time Home Buyers’ Program reduces or eliminates the amount of property transfer tax you pay on your home purchase. To give you some context into how much property transfer tax actually is, it’s calculated in a tiered way as follows:
1% on the first $100,000
2% on the amount from $200,000 to $2,000,000
And 3% on the amount above $2,000,000
If you’re hitting the $3,000,000 mark, you’ll be paying an extra 2% on the amount above that. But as a first time home buyer in Vancouver you probably don’t have to worry about that!
So for a $500,000 property, property transfer tax is $8,000.
To qualify for a full exemption, among the basic qualifications, the property must have a market value of below $500,000 and below $525,000 for a partial exemption. If you’re buying within Vancouver this may not be applicable because most condos are priced above this, even at the bottom end of the market, but if you keep your eye out you can actually find some properties listed below this price!
RRSP Home Buyers’ Plan
As the name suggests, you’ll have to have an RRSP account already for this one to be applicable. The Home Buyers’ Plan (HBP) is a program that allows you to withdraw up to $35,000 tax-free in a calendar year from your registered retirement savings plan (RRSPs). This money would go specifically to fund your down payment for buying a home or building a qualifying home for yourself or for a related person with a disability.
The Home Buyers’ Plan can be a great option because generally, early withdrawals from your RRSP is considered taxable income - and really, when buying your first home, every bit of savings counts! You will need to start repaying the amount you took from the RRSP 2 years after buying, over a 15-year period. And keep in mind the money taken must be in your RRSP for at least 90 days prior to the purchase.
GST New Housing Rebate
GST is a whopping 5% of a purchase price, and can easily become one of the largest taxes on buying a new home or one that has been substantially renovated.
As a first-time home buyer you can apply for a GST credit from the government and/or developer, which can offset part of the GST costs on your home as long as the home is under $450,000. Again, within Vancouver this would be hard to find, though as you move further away this becomes more possible so I wanted to include it!
Now that you know some programs to help you save some money on your home purchase, I have a home buyer guide built just for you that I would love to share. I’ve linked it HERE! Reach out if you have any questions or would like to start your home search!
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
.png)
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.