First Time Buyers in BC are finally getting the break that they’ve been waiting for.  The Property Purchase Transfer Tax Threshold has been raised from the maximum purchase price of $425K to $475K.  The PPPT, which is calculated at 1% of the first $200k of purchase price and 2% of the remainder is a “Closing Cost” required at time of closing a real estate purchase transaction.  First Time Buyers in BC can now save up to a maximum of $7,500 in cash at time of closing.

Check out our First Time Buyer Checklist on how to plan towards owning your first home in BC.