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Property Transfer Tax

When you purchase or gain an interest in property that is registered at the Land Title Office, you are responsible for paying property transfer tax. 

Taxable transactions include:

  • transfer of fee simple
  • right to purchase or agreement for sale
  • lease or lease modification agreements
  • life estate
  • foreclosure
  • Crown grant
  • escheatforfeiture or quit claim
  • transfer as a result of corporate reorganization

You pay the tax based on the fair market value...

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Home Buyers' Plan (HBP)

The Home Buyers' Plan (HBP) is a program that allows you to withdraw funds from your registered retirement savings plan (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability. You can withdraw up to $25,000 in a calendar year.

Your RRSP contributions must remain in the RRSP for at least 90 days before you can withdraw them under the HBP, or they may not be deductible for any year.

Generally, you have to repay all withdrawals to your...

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Home Maintenance Checklist

Below is a good list of items to maintain during the year. If you have more please add in the comment section at the end.:

1. Roof: Check the roof and around vents, skylights, and chimneys for leaks. Repair as necessary.

2. Attic: If there is no ridge vent, keep gable vents open year-round to ensure proper ventilation.

3. Gutters: Clean the gutters and drain pipes so leaves won’t clog them and be sure they drain away from the house. (Fall: In cold-climate areas) Drain...

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With many new large breweries and micro-breweries opening up in and around Mount Pleasant, this gentrifying area is more than just skate boards and skinny jeans.  It is the new 'it' spot in Vancouver with great night life.  For those of you interested in pub crawling, these breweries are in close proximity so you can leave your car at home!or craft beer lovers in Vancouver, there’s plenty of reason to celebrate.

No fewer than nine new and expanded craft breweries – complete with...

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I just finished uploading this Condo for sale, 408 2768 CRANBERRY Drive, Vancouver West, British Columbia

Enjoy an exciting lifestyle at Arbutus Walk in this beautiful two bedroom suite in the Zydeco. Fantastic floor plan with large size bedrooms, open chef's kitchen, huge west facing balcony, parking & storage. Start enjoying the exciting lifestyle of Kitsilano in the very sought after Arbutus Walk neighborhood.

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I just finished uploading this Condo for sale, 401 3611 18TH Ave W, Vancouver West, British Columbia

Pariz on Dunbar. A boutique bldg, recipient of a 2008 Georgie award. This one bdrm SW corner unit is like new. Filled by natural light & overlooking a lovely treed street. Lovely deck to enjoy BBQ, read, relax. Spacious layout & perfectly distributed space in these 649 SF of quality. Grohe, Kohler, Low-E Windows, gas stove, gas fireplace, S/S appliances, B/I vacuum, H/W floors, granite countertops...

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Balanced conditions continue in the Greater Vancouver housing market

Home buyer and seller activity continues to mirror historical averages in the Greater Vancouver housing market. These trends have helped keep the region in a balanced state for the last nine months.

The Real Estate Board of Greater Vancouver reports that residential property sales in Greater Vancouver reached 2,661 on the Multiple Listing Service® (MLS®) in October 2013. This is a 37.8 per cent increase compared to the 1,931 sales recorded in October 2012, and a 7.2 per cent increase from the 2,483 sales recorded in September 2013.

New listings for attached, detached and apartment properties in Greater Vancouver totaled 4,315 in October 2013. This represents a 0.2 per cent decline from the 4,323 new listings reported in October 2012, and a decrease of 14.2 per cent compared to the 5,030 new listings reported in September of this year.

Last month’s sales were 2.8 per cent above the 10-year sales average for the month, while new listings for the month were 1.9 per cent below the 10-year average.

“We continue to see fairly typical activity when it comes to monthly home sale and listing totals,” Sandra Wyant, REBGV president said. “Today’s activity is helping to keep us in balanced market territory, which means that prices tend to experience minimal fluctuation.”

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 15,257, a decline of 12.2 per cent compared to this time last year, and a decline of 5.3 per cent compared to September 2013.

The sales-to-active-listings ratio is currently at 17.4 per cent in Greater Vancouver.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is $600,700. This represents a 0.5 per cent decline compared to this time last year.

Sales of detached properties reached 1,067 in October 2013, an increase of 35.1 per cent from the 790 detached sales recorded in October 2012 and a 9.5 per cent increase from the 974 units sold in October 2011. The benchmark price for detached properties decreased 0.5 per cent from October 2012 to $922,600.

Sales of apartment properties reached 1,098 in October 2013, an increase of 36.7 per cent compared to the 803 apartment sales recorded in October 2012, and an increase of 14.6 per cent compared to the 958 sales in October 2011. The benchmark price of an apartment property decreased 0.9 per cent from October 2012 to $365,600.

Attached property sales totaled 496, an increase of 46.7 per cent compared to the 338 attached property sales recorded in 2012 and a 29.8 per cent increase compared to the 382 attached property sales recorded in October 2011. The benchmark price of an attached property is $458,000, which is virtually unchanged from October 2012.

Download the complete stats package by clicking here. 

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I just finished uploading this Condo for sale, 202 8495 JELLICOE Street, Vancouver East, British Columbia

This move in ready 869 SF 2 bedroom, 1 bath ground level condo has been freshly painted with new laminate floors. The living space features a gas fireplace & opens up onto a spacious south facing patio. There is a large kitchen with access to the patio, great for year round BBQing. The master bedroom features a walk in closet & cheater ensuite with double sinks & a soaker tub. The unit...

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I just finished uploading this Condo for sale, 207 1318 6TH Ave W, Vancouver West, British Columbia

RARE! Best priced 3 bedroom home in a fully rainscreened Fairview building! This townhouse style, 1 level apartment features large rooms with a great layout. Enjoy the open living & dining area, separated bedrooms for privacy, 2 balconies & 2 bathrooms. You will not need to donate half your clothes to have them fit; the closets & storage are fantastically large! Walking distance to everything...

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Categories:   BC HOME LOAN Program