Helpful changes coming for first time home buyers

The B.C. government announced changes to help people afford homes, increasing the Property Transfer Tax exemption for first-time home buyers and buyers of newly built homes. The exemption will now apply to homes up to $835,000 for FTHB and $1.1 million for newly built homes. A Secondary Suite Incentive Program will also be introduced, offering forgivable loans for adding secondary suites to existing homes.

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