Thinking of breaking into the Canadian housing market for the first time? Chances are, you’re doing your research and looking into every possible tax break and incentive available to help financially ease your transition into home ownership.
If you’re a frequent reader of my weekly post, you know I tend to avoid politics, but there is one thing I want to talk about, and no, it’s not what you think it is. Some recent, um, controversy has plagued the Liberal campaign.
BMO released the results of a survey conducted by Pollara Strategic Insights, announcing that first-time buyers in Alberta are the most optimistic in the country about buying a new home with more than 50% thinking that now is a good time to do so.
First announced back in March in the last federal budget, the FTHBI has been the point of some debate, both for how the program is structured, and for some of the restrictions it places on home buyers who may wish to use it.
There will soon be a new way for first-time buyers to step onto the homeownership ladder, but it’s based in London, England. If there’s success there, perhaps we’ll see this type of homebuying make its way to Canada.
Moving into your new condo is an exciting thing to do, especially if you’re a first-time buyer. If you’re moving in before the building is registered and you’re paying interim occupancy fees, it means there will likely still be construction underway.