Leanne Drolet

Royal LePage Sterling Realty

Office 604-421-1010

Cell 778-840-7211

Email: Leanne@realtygal.ca

Categories
RSS

WOW!


Did you know if you are a first time buyer of a home that you can borrow up to $25,000.00 from your Registered Retirement Savings Plan (RRSP) to buy or build a qualifying home!


The Canadian Government’s Home Buyers Plan (HBP) allows you to borrow up to $25,000.00 from your RRSP for a down payment, tax-free.  If there are two people buying the home together and you are both first time buyers, each of you can withdraw up to $25,000.00! 


Your RRSP contributions must remain in the RRSP for at least 90 days before you can withdraw it. 


Since the HBP is considered as a loan, it must be repaid within a period of no more than 15 years.  You have to repay an amount to your RRSP each year until your HBP balance is zero.  If you do not repay the amount due for a year, it will be included in your income for that year.


For more information give me a call!

Read

 


 

As part of construction for the Evergreen Line, there will be some intermittent nighttime utility relocation and traffic signal work at the intersection of Pinetree Way and Guildford Way starting the week of January 20. This work is required prior to the construction of the elevated guideway and the Lafarge Lake-Douglas Station.

 

WHAT TO EXPECT

  • Nighttime work is required due to high volumes of daytime traffic on Pinetree Way and Guildford Way.
  • In addition to nighttime utility relocation work, crews will be modifying the existing traffic signals at the intersection of Pinetree Way and Guildford Way prior to the construction of the elevated guideway.
  • This work will take place from 8 p.m. to 6 a.m. Monday to Saturday intermittently for approximately three weeks. Every effort will be made to minimize noise and disruptions.
  • Nighttime noise related to saw cutting and the use of heavy machinery should be expected as part of this work.
  • Drivers are advised that there will be lane closures on Pinetree Way and Guildford Way while this work is underway. When lane closures are in effect, please watch for construction signs, drive with caution, and obey traffic control personnel.
  • For the safety of all pedestrians, please follow traffic control personnel and posted signs while construction is underway.

A key goal of the Evergreen Line Rapid Transit Project is to minimize construction-related disruption and maximize traffic flow and predictability during construction activities.
To contact EGRT Construction, the contractor who is building the Evergreen Line, please call 604-927-2080, available 24 hours a day, 7 days a week. If you have comments or questions about the Evergreen Line, please call the Evergreen Line Project Office at (604) 927-4452 or email info@evergreenline.gov.bc.ca.
 
 

 

 

Courtesy EGRT Construction

Read


Many people only see a doctor when they're sick or have some other health concern. On the other hand, some people visit a doctor regularly for checkups, to ask questions and get advice, and to maintain good health.


Which do you think is the better approach? Obviously, the second one!  The same thing is true when it comes to real estate. Even if you have no current plans to buy or sell a home, there are many reasons to talk to a REALTOR® regularly in order to maintain your good "real estate" health.


For example, you can:


• Get an assessment of the current market value of your home, so you can make an informed decision about whether to stay or move.


• Ask about the state of the local real estate market (which may be vastly different than what you hear on the national news.)


• Find out what homes are currently selling for in the area.


• Learn what's currently available on the market, especially in neighbourhoods you would like to live in and that are within your budget. 


• Ask for a contractor or other recommendation.


In fact, it's a good idea to have a chat with your REALTOR® once or twice a year, even if it's just to say hello. 


You want to build a relationship with a good REALTOR® who understands (and cares about) you and your needs. That way, when it does come time for you to make a move, you're dealing with a REALTOR® you already know and trust.


Don't have a good REALTOR®? Call today!

Read

First Time Home Buyers' Program

 

Becoming a home owner for the first time can be very confusing and overwhelming for many people!  You've probably heard many things about buying a home for the first time however you may not be clear about everything you've heard!  

 

There are many benefits for first time buyers and among them is the First Time Buyers' Program!  I get many questions about the First Tiime Home Buyers' Program!  The First Time Home Buyers' Program reduces or eliminates the amount of property transfer tax (Usually referred to as PPT) you pay when you purchase your first home. If you qualify for the program, you may be eligible for either a full or partial exemption from the tax!

 

Another question I get often is what if my partner has bought before buy I have not?  If one or more of the purchasers don’t qualify, then only the percentage of interest that the first time home buyer(s) have in the property is eligible!  For example, if you qualify and purchase a property with a fair market value of $400,000 with a person that doesn’t qualify you would still qualify. If you owned a 60% interest in the property, 60% of the tax amount would be eligible for the exemption.

 

How do I know if I Qualify?

 

To qualify for a full exemption  at the time the property is registered you must:

  • be a Canadian citizen or permanent resident
  • have lived in B.C. for 12 consecutive months immediately before the date you register the property or filed at least 2 income tax returns as a B.C. resident in the last 6 years
  • have never owned an interest in a principal residence anywhere in the world at any time
  • you have never received a first time home buyers' exemption or refund

and ALSO the property must:

  • be located in B.C.
  • only be used as your principal residence
  • have a fair market value of $425,000 or less
  • be 0.5 hectares (1.24 acres) or smaller

You may qualify for a partial exemption from the tax if the property:

  • has a fair market value less than $450,000
  • larger than 0.5 hectares
  • has another building on the property other than the principal residence

Also, if you don’t qualify because you are not a Canadian citizen or permanent resident, but you become one within 12 months of when the property is registered, you may apply for a refund of the tax. To apply for a refund call (250) 387-0604.

 

To Apply:

 

To apply for the First Time Home Buyers' Program you need to complete the First Time Home Buyers' Property Transfer Tax Return when you or your legal professional (normally your lawyer) register the property transfer.

 

After you have applied you must meet additional requirements during the first year you own the property to keep the tax exemption.

 

Penalty for False Declaration

All applications are reviewed. You will be charged a penalty equal to double the tax if you falsely declare that:

  • you have never owned an interest in a principal residence anywhere in the world at any time, or
  • you have never received a first time home buyers' exemption or refund

First Year of Ownership:

 

At the end of the first year you own the property you will receive a letter. The letter is to conditionally confirm that you meet the occupancy and property value requirements after you:

  • purchased an existing home, or
  • purchased vacant land and built a home
Don't hesitate to call or email me if you have any other questions about the First Time Home Buyers' Program or other incentives for first time buyers!!

 

 

 

Courtesy of the Government of BC website-  http://www2.gov.bc.ca/gov/topic.pageid=BBD16E2D7C1841A7BBD420E3AC5380F1

Read
Categories:   # PortMoody #RealEstate #Coquitlamrealestate #WestwoodPlateauRealEstate #Prepareyourhometosell | #Coquitlam | #Coquitlamrealestate #WestwoodPlateauRealEstate #Prepareyourhometosell | #DIY | #Moving | #Multipleoffers! #Coquitlamrealestate #Realtygal #BuySellrealestate | #PortCoquitlamrealestate | #PortMoodyrealestate | #Preparingtossell #Walkability #Tricityrealtor #Downsizing | #RealEstate, #Sellyourhome #Renovate | #RealtorCareBlanketDrive | Anmore, Port Moody Real Estate, Port Coquitlam, Coquitlam, Real Estate, Selling a home, Buying a home, Townhome, Condo, House, | breast cancer research, spring clean, Coquitlam, Port Coquitlam, Port Moody | Brentwood Park, Burnaby North Real Estate | Burke Mountain, Coquitlam Real Estate | Canyon Springs, Coquitlam Real Estate | Central Coquitlam, Coquitlam Real Estate | Central Coquitlam, Coquitlam Real Estate, Port Moody, Port Coquitlam, Pitt Meadows, Westwood Plateau | Central Meadows, Pitt Meadows Real Estate | Citadel PQ, Port Coquitlam Real Estate | College Park PM, Port Moody Real Estate | Condo | Coquitlam East, Coquitlam Real Estate | Coquitlam, Evergreen Line, Guildford, Pinetree Way, Douglas College, Coquitlam Centre | Coquitlam, Port Coquitlam, Port Moody, Housing, Realtor, Royal LePage, Buying a home, Selling a home | Coquitlam, Port Coquitlam, Port Moody, Pitt Meadows, Maple Ridge, Langley, Home buying and selling, Real estate | Coquitlam, Port Coquitlam, Port Moody, real estate, Westwood Plateau, North Coquitlam, Oxford Heights, New Horizons | Coquitlam, Port Moody, Port Coquitlam, Burnaby, Pitt Meadows, Homes for Sale, Sell a home, Realtor | Coquitlam, Port Moody, Port Coquitlam, First time buyer, selling a home, Buying and selling, Real estate, | Cottonwood MR, Maple Ridge Real Estate | Downtown NW, New Westminster Real Estate | East Newton, Surrey Real Estate | Guildford, North Surrey Real Estate | Heritage Mountain, Port Moody Real Estate | Heritage Woods PM, Port Moody Real Estate | Lincoln Park PQ, Port Coquitlam Real Estate | Mountain Meadows, Port Moody Real Estate | New Horizons, Coquitlam Real Estate | North Coquitlam, Coquitlam Real Estate | open house, real estate, Coquitlam, Port Coquitlam, Port Moody, listing a house, buying a home | Preparing your home to sell, selling a home, sellers, real estate, Coquitlam, Port Coquitlam, Port Moody | Ranch Park, Coquitlam Real Estate | REALTOR® | Renovation, Coquitlam, Port Coquitlam, Port Moody, Westwood Plateau, Canyon Springs, River Springs, Scott Creek, New Horizons | Renovations, Updates, getting the most money for your home | RRSP, First time buyer, HBP, Canadian Government's Home Buyers Plan, Coquitlam, Port Moody, Port Coquitlam | selling your home quickly | Sunshine Hills Woods, N. Delta Real Estate | Tri-City News, A-list, Real Estate, Coquitlam, Port Coquitlam, Port Moody, Favourite realtor | Walnut Grove, Langley Real Estate | Westwood Plateau, Coquitlam Real Estate | White Rock, South Surrey White Rock Real Estate | Willoughby Heights, Langley Real Estate | Woodland Acres PQ, Port Coquitlam Real Estate | Yarrow, Yarrow Real Estate
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.