BC Policy Changes for 2024

What Okanagan Buyers and Sellers Need to Know

Hey Okanagan friends,

Exciting news from Goldilocks Estates about BC's latest policy changes! These updates are designed to make owning a home in Kelowna more achievable than ever. Here's a quick overview:

First-Time Homebuyers’ Program

Starting April 1, 2024, the threshold for the First-Time Homebuyers’ Program has increased from $500,000 to $835,000. This change is designed to help more people purchase their first home. Here’s how it works:

  1. Exemption on Property Transfer Tax: Qualifying individuals buying homes up to $835,000 now receive an exemption on the property transfer tax for the first $500,000 of the home’s value. This means potential savings of…

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