Didn't know that the max ammount for the benefit was 500k, to be honest it's kind of a low number for anything in Vancouver, probably an studio could be around that price? But definitely most people look at properties at around ~800k so that tax break doesn't sound to useful :(
@@AdamJBellhey Adam! Any updates on this? I thought there were murmurs that they were looking to raise this. Any idea if that was the case and by how much?
Update time 😎 - This amount is now up to $835,000. Meaning you can save $8k on any property up to that amount. OR if you buy. a brand new home or presale, you can avoid up to $20 if it is below $1.1 Million. Posting update videos here in the coming days with the full details, save the video to reference down the road 🤙 Still dos not solve how expensive things are of course, I agree, but just wanted to share the update.
I get your point here Adam. But logically speaking always the seller adds the total amount of the commissions (buyer+seller agent) included in the price of the home. So technically he will always sell over and above his cost price. Hence indirectly the buyer is paying for all of that ! 😉
True! But you don't pay more for the amount of work extra they do is more what I was speaking on. Get them to help as much as possible, cause you won't pay (more). You got it ✌
Also was just looking through comments again and wanted to mention one other thing - even if people choose not to work with an agent when buying, the selling agent will just get the buyers agents cut. So although I still know what you're saying, all I'm saying is it wouldn't;t make sense not to use an agent for assistance pretty much! Cause they'll have to pay the same 🏠😄
Hi Adam one question, suppose a person if wants to buy an investment property before he has bought his own house, meaning he is renting but he wants to have an investment property first. So then also he will have to clear the stress test for the mortgage or only criteria is 20 percent down payment for the investment unit. Thanks
They did just update it to that tax savings up to $835,000 But still, it is only a savings of around $8k, so I am not saying this is a world of difference 👍
Currently just had some spots open up for upcoming clients - send me an email and let's see if we are a good fit for each other. I would love to learn a bit about you and your criteria :) let me know you came form the comment sin the email! - adam@seaandskyrealestate.com
Really nice video!
Very informative!
Leave your questions below! I'll get back to you on this account or the Real Estate One 😄
Didn't know that the max ammount for the benefit was 500k, to be honest it's kind of a low number for anything in Vancouver, probably an studio could be around that price? But definitely most people look at properties at around ~800k so that tax break doesn't sound to useful :(
Unfortunately you're correct there, specifically in Vancouver the program isn't a huge help. And I wasn't trying to hide that, people have to know 🙌
@@AdamJBellhey Adam! Any updates on this? I thought there were murmurs that they were looking to raise this. Any idea if that was the case and by how much?
100% correct. Government doesn't move fast enough or reflect the reality on the ground.
Update time 😎 - This amount is now up to $835,000. Meaning you can save $8k on any property up to that amount.
OR if you buy. a brand new home or presale, you can avoid up to $20 if it is below $1.1 Million.
Posting update videos here in the coming days with the full details, save the video to reference down the road 🤙
Still dos not solve how expensive things are of course, I agree, but just wanted to share the update.
@@ballistiks yes! see comment on this thread 😎
I get your point here Adam. But logically speaking always the seller adds the total amount of the commissions (buyer+seller agent) included in the price of the home. So technically he will always sell over and above his cost price. Hence indirectly the buyer is paying for all of that ! 😉
True! But you don't pay more for the amount of work extra they do is more what I was speaking on.
Get them to help as much as possible, cause you won't pay (more). You got it ✌
Also was just looking through comments again and wanted to mention one other thing - even if people choose not to work with an agent when buying, the selling agent will just get the buyers agents cut.
So although I still know what you're saying, all I'm saying is it wouldn't;t make sense not to use an agent for assistance pretty much!
Cause they'll have to pay the same 🏠😄
Hi Adam one question, suppose a person if wants to buy an investment property before he has bought his own house, meaning he is renting but he wants to have an investment property first. So then also he will have to clear the stress test for the mortgage or only criteria is 20 percent down payment for the investment unit. Thanks
Grear vlog my dear brother and i join your channel 😊🔔
first time home buyers is impossible to get. how can you even find a home in or around Vancouver for under 500k for a starting family.
They did just update it to that tax savings up to $835,000
But still, it is only a savings of around $8k, so I am not saying this is a world of difference 👍
Move to the fraser valley and you can get lots of condos under 500k
Are you taking new clients?I'm looking to buy a place in the surrey richmond area
Currently just had some spots open up for upcoming clients - send me an email and let's see if we are a good fit for each other.
I would love to learn a bit about you and your criteria :) let me know you came form the comment sin the email!
- adam@seaandskyrealestate.com
How to buy house if your not an Canadian citizen???
Currently you need PR or to be a citizen to buy. That is the rule - they will revisit this rule in a couple years to keep it or take it away.
This is now a comedy channel 😅
hey at least we are all smiling