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Big announcement by the British Columbian Government, as they have released statements pertaining to the transition from HST back to the old PST system. They have taken several steps to make purchasing new homes easier from people in British Columbia. See the link below for the release.
The most exciting announcement for those waiting until the PST is re-installed, prior to this announcement the new home rebate offered by the goverment was capped at houses priced up to $500,000. Under the transition system, new home buyers are eligible to apply for a provincial grant of up to $42,500!!! Thus offsetting the additional tax costs on all homes up to $850,000. This is incredivble news for those hoping to get into there new home sooner than later. Coupled with a steadily increasing population, vastly improving real estate market, and the natural stunning beauty of BC's Southern Interior, makes it a great time to get back in the market!
Can't wait to see you here,