Multi Generational Home Renovation Tax Credit
Posted on Jan 08, 2023
Multigenerational Home Renovation Tax Credit
This tax credit for families applies to eligible construction costs for those who wish to add a secondary unit to their home to allow an immediate or extended family member to live with them. To be eligible, the renovation must be completed in the owner’s primary residence where they live with a senior or...
Residential Anti-Flipping Rule In Effect
Posted on Jan 08, 2023
Real Estate Adopts High Level of Consumer Protection With Rescission Period
Posted on Jan 08, 2023
There is still a lot of confusion of the Home Buyer Rescission Period (HBRP). The reason the Government implemented this is to reduce and eliminate the risk of home buyers placing subject free offers on properties.
In a red hot seller's market, when there are often 10 plus offers on one home, people were buying wrecklessly just to secure a home. Th...
Canada's Foreign Home Buyer Ban Now In Effect
Posted on Jan 06, 2023
The regulations for the ban on foreign homebuyers in Canada came into force on January 1, 2023.
The ban means that foreign commercial enterprises and people will be prohibited from purchasing residential properties in Canada for two years.It was passed by Parliament last June and is geared at lowering the ballooning housing affordability challenges...
Gov Lifts Condo Rental Restrictions
Posted on Jan 03, 2023
The BC Government has recently change the laws around the restrictions that condos owners / strata corporations can vote on and adopt. In an effort to impact the housing shortage, they have have changed the ability for strata corporations to uphold current bylaw rental restrictions, thus allowing all condo owners to rent their condos out.
This focus...