Jessica Prasad

BC Budget

The new BC Budget has made some changes that will impact home buyers. Below are a summary of changes from Tony Spagnuolo

There are no changes to the first time home buyer exemption limits.

All buyers will no longer pay property transfer tax on new primary residence purchased up to $750,000 (Must be a Canadian Citizen or Permanent Resident).

Property transfer tax is now 3% for any portion amount over $2,000,000. This is a increase from 2% to 3%.

It appears the BC Government is looking to profit on the high end price sales and attempting to encourage new construction.

The RRSP contribution deadline to enjoy the tax break for 2015 is Monday February 29^th

If you are a FIRST TIME HOMEBUYER and are holding/accumulating down payment funds in cash or a non tax savings structure AND don't think you'll be buying for at least 90 days, consider putting up to $25,000 of your down payment into a RRSP before the deadline.

WHY? Well, if you put your $$ into an RRSP by February 29^th, technically you can withdraw up to $25,000 of your RRSP on or after May 30^th to use towards your down payment as a first time homebuyer AND reap the tax break for against your 2015 or 2016 taxes!

YESSIREE - that's a legitimate double dip. The KEY is that the funds need only be vested in a RRSP a minimum of 90 days before withdrawal to realize both benefits.

Like more info? Or a referral to a financial advisor that can assist you with this?

Call Sharon Davis 604-220-2343 today!

sharon@myimsmortgage.com

As an appreciation to my AWESOME clients and friends, I would like to offer you complementary tickets to the upcoming show BC HOME + GARDEN SHOW!!

Dates & Hours

Wednesday February 17, 2016  4:00 p.m. - 9:00 p.m.
​Thursday February 18, 2016  ​NOON - 9:00 p.m.
Friday ​February 19, 2016  NOON - 9:00 p.m.
Saturday ​February 20, 2016  10:00 a.m. - 9:00 p.m.
Sunday ​​February 21, 2016  10:00 a.m. - 6:00 p.m.

If you know anyone that is buying or selling in the near future, I’m happy to help and your referrals are greatly appreciated :)

Thank you and Enjoy the Show!!

Jessica Prasad

Personal Real Estate Corporation

Re/Max Sabre Realty

Why LIve in Coquitlam? Here's some info at Glance!

141,000+ people call Coquitlam home

6,200+ licensed businesses operate in
our community

98% of residents rate their quality of
life as “good” or “very good”

1 in 4 residents over the age of 18
either work or go to school in Coquitlam

38: average age of Coquitlam residents,
younger than the BC average

43% of Coquitlam residents were born
outside of Canada (top three
countries: China, South Korea, Iran)

56% of residents over the age of 25
have post-secondary education

1: rank of the Coquitlam school district
in the Fraser Health Authority in terms
of high school completion rates

45,745: total number of housing units

77% of residents own their home

$109,712: average family income of
couples with children

$67,700: median income

*2014 stats