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Bridgewell Real Estate Group
Canada
เข้าร่วมเมื่อ 1 ก.พ. 2018
Bridgewell Group is a top-ranked real estate agency located in Coquitlam, BC that provides real estate selling and buying services. Our realtors pride themselves on providing our clients with local knowledge, data-driven strategies, innovative marketing, and a customer-first mentality. We are Coquitlam realtors that specialize in Port Moody, Port Coquitlam, and Coquitlam real estate and the surrounding areas. Partnered with Oakwyn Realty, we have multiple offices and have experience selling and buying real estate all over the Lower Mainland. As award-winning realtors ranked in the Top 10% of all Greater Vancouver Realtors, no other real estate agency will offer more value, expertise, education, or better service than Bridgewell Group.
Presale vs Resale Properties - Which is the Better Buy? Key Differences, Pros & Cons, Risks & More!
What is better, buying a pre construction or a resale property? This is a question we get asked all of the time! In this video, Mariko goes over key differences between resale and presale properties including taxes, tax exemptions, deposits & more. As well as the pros & cons to both options, and which may be the best buy for you!
When deciding whether to buy a presale or a resale home, you have to consider your personal situation, timeline, affordability, stability of income, and goals. There is no right or wrong answer generically, but rather an answer that is specific to you. Looking to buy in the Greater Vancouver area? Our team is experienced in working with both presale and resale properties, and are with our clients every step of the way to make sure they have all the knowledge & tools to consider all their options and make the right choice for them. Reach out to our team today to start your home buying journey!
TIMELINE • In this video, we discuss:
0:00 • Introduction
1:02 • What is a Presale Home?
1:40 • What is a Resale Home?
2:50 • Key Difference #1: Taxes - GST & Property Transfer Tax Exemptions
4:25 • Key Difference #2: Subject Removal vs Rescission Periods
6:15 • Key Difference #3: Completion, Possession & Adjustment Dates
8:30 • Key Difference #4: Deposits
10:45 • Key Difference #5: Financing & Risks
15:45 • Key Difference #6: Warranty (2-5-10 Warranty)
17:10 • Presale vs Resale Pros & Cons
20:00 • Recap & Conclusion - Reach out to our team for all your presale AND resale real estate needs in the Greater Vancouver area!
--
🔹CONTACT INFO🔹
TEAM BRIDGEWELL REAL ESTATE GROUP
📲 Direct phone: 604-319-0200 (we love texting!)
📩 Email: hello@bridgewellgroup.ca
🖥️ Visit: www.bridgewellgroup.ca
🔹◽🔹◽🔹◽🔹◽
STAY IN TOUCH ON SOCIAL:
Instagram: bridgewellgroup
Tik Tok: www.tiktok.com/@bridgewellgroup
Facebook: bridgewellgroup
Twitter: bridgewellgroup
🔹◽🔹◽🔹◽🔹◽
Want to find listings and know how much homes are selling for FASTER? Sign up for our PCS system to receive instant notifications to your email for new listings and sale activity: bridgewellgroup.ca/pcs-signup/
Are you ready to BUY or SELL in the Coquitlam, Greater Vancouver/Fraser Valley areas?! Contact BRIDGEWELL REAL ESTATE GROUP - we are one of the top producing teams in Coquitlam and the Greater Vancouver area and can help make the process of buying or selling as seamless as possible!
SUBSCRIBE TO THE CHANNEL HERE:
th-cam.com/users/BridgewellRealEstateGroup
More Coquitlam neighbourhood information here:
bridgewellgroup.ca/coquitlam-neighbourhood-guide/
COQUITLAM REAL ESTATE OAKWYN REALTY LTD.
VANCOUVER BC HOMES, TOWNHOUSES & CONDOS
GREATER VANCOUVER BC REAL ESTATE FOR SALE
#vancouver #realestate #coquitlam #presales
When deciding whether to buy a presale or a resale home, you have to consider your personal situation, timeline, affordability, stability of income, and goals. There is no right or wrong answer generically, but rather an answer that is specific to you. Looking to buy in the Greater Vancouver area? Our team is experienced in working with both presale and resale properties, and are with our clients every step of the way to make sure they have all the knowledge & tools to consider all their options and make the right choice for them. Reach out to our team today to start your home buying journey!
TIMELINE • In this video, we discuss:
0:00 • Introduction
1:02 • What is a Presale Home?
1:40 • What is a Resale Home?
2:50 • Key Difference #1: Taxes - GST & Property Transfer Tax Exemptions
4:25 • Key Difference #2: Subject Removal vs Rescission Periods
6:15 • Key Difference #3: Completion, Possession & Adjustment Dates
8:30 • Key Difference #4: Deposits
10:45 • Key Difference #5: Financing & Risks
15:45 • Key Difference #6: Warranty (2-5-10 Warranty)
17:10 • Presale vs Resale Pros & Cons
20:00 • Recap & Conclusion - Reach out to our team for all your presale AND resale real estate needs in the Greater Vancouver area!
--
🔹CONTACT INFO🔹
TEAM BRIDGEWELL REAL ESTATE GROUP
📲 Direct phone: 604-319-0200 (we love texting!)
📩 Email: hello@bridgewellgroup.ca
🖥️ Visit: www.bridgewellgroup.ca
🔹◽🔹◽🔹◽🔹◽
STAY IN TOUCH ON SOCIAL:
Instagram: bridgewellgroup
Tik Tok: www.tiktok.com/@bridgewellgroup
Facebook: bridgewellgroup
Twitter: bridgewellgroup
🔹◽🔹◽🔹◽🔹◽
Want to find listings and know how much homes are selling for FASTER? Sign up for our PCS system to receive instant notifications to your email for new listings and sale activity: bridgewellgroup.ca/pcs-signup/
Are you ready to BUY or SELL in the Coquitlam, Greater Vancouver/Fraser Valley areas?! Contact BRIDGEWELL REAL ESTATE GROUP - we are one of the top producing teams in Coquitlam and the Greater Vancouver area and can help make the process of buying or selling as seamless as possible!
SUBSCRIBE TO THE CHANNEL HERE:
th-cam.com/users/BridgewellRealEstateGroup
More Coquitlam neighbourhood information here:
bridgewellgroup.ca/coquitlam-neighbourhood-guide/
COQUITLAM REAL ESTATE OAKWYN REALTY LTD.
VANCOUVER BC HOMES, TOWNHOUSES & CONDOS
GREATER VANCOUVER BC REAL ESTATE FOR SALE
#vancouver #realestate #coquitlam #presales
มุมมอง: 12
วีดีโอ
Best Neighbourhoods in Burnaby - Outdoor Spaces, Amenities, Real Estate & More!
มุมมอง 12514 วันที่ผ่านมา
Today we're breaking down some of the best neighbourhoods in Burnaby and everything you need to know about them! This video goes through what it is like to live in Burnaby British Columbia, and is a quick breakdown of the types of homes, things to do, schools, demographics, outdoor spaces, restaurants/grocery options & more in Burnaby BC. There are a lot of people that are trying to decide if t...
Minimum Down Payment Requirements in BC - 2024 Update
มุมมอง 38528 วันที่ผ่านมา
With new changes implemented in 2024 (coming into effect December 15, 2024) to the minimum down payment rules in Canada, we thought it would be helpful to create a new video explaining these changes and going over what a down payment is. In this video, Mariko goes over what a down payment is, when it's due, what the new minimum down payment rules are, the difference between a down payment versu...
Property Transfer Tax BC Exemptions - Buying a Home in BC
มุมมอง 217หลายเดือนก่อน
With new changes implemented in 2024 to the property transfer tax exemptions, we thought it would be helpful to create a new video explaining these changes and breakdown the different exemptions. When buying a home in BC, property transfer tax is an important closing cost to consider. In this video, Mariko talks about property transfer tax exemptions that may be applicable to you when buying re...
How to Calculate Property Transfer Tax in BC - Closing Costs to Consider When Buying a Home
มุมมอง 912 หลายเดือนก่อน
In this video, Mariko with Bridgewell Real Estate Group breaks down the basics of property transfer tax in British Columbia. She goes over what property transfer tax is, who pays property transfer tax in BC real estate purchases, when it is due, and goes through the basics of how to calculate property transfer tax in British Columbia with some example breakdowns. She also discusses property tra...
New Tenancy Rules British Columbia - Residential Tenancy Act Updates 2024
มุมมอง 6693 หลายเดือนก่อน
What are the new BC tenancy rules? New rules to the BC Residential Tenancy Act became effective in July 2024 (with changes in August 2024), so we thought it would be helpful to go over these changes and how they will impact those buying a tenanted property in BC or selling a tenanted property in BC. In this video, Mariko (residential realtor at Bridgewell Group in Vancouver) goes over what the ...
New Capital Gains Tax Canada
มุมมอง 1354 หลายเดือนก่อน
What are the new capital gains tax rules for 2024? With the new updates to the capital gains taxes in Canada effective June 25, 2024, we thought it would be helpful to go over these changes and how they impact a disposition in a corporate versus a personal situation - specifically with regards to selling real estate. In this video, Mariko (residential realtor at Bridgewell Group in Vancouver) g...
Soenhaus Presale by Marcon || Everything You Need to Know || VIP ACCESS || Burquitlam Presale
มุมมอง 2545 หลายเดือนก่อน
Come learn more about Marcon's latest presale project - Söenhaus. Centrally located in the popular West Coquitlam neighbourhood! With 165 homes, floor plans ranging from Jr 1 bed to 3 bed homes, and starting prices in the low $500,000s - this presale has a home for all types of buyers and is definitely one to check out! In this video, Mariko & Kiyomi go through more details about the location, ...
Meet The Bridgewell Team || About Us!
มุมมอง 1835 หลายเดือนก่อน
Bridgewell Group is a full-service real estate team that has successfully been helping hundreds of clients buy and sell real estate in the Greater Vancouver. From our testimonials and online reviews to our Greater Vancouver top-producer awards, we are dedicated to providing exceptional results for all of our clients. We’re not just your average realtors… We’re a full-service team with backgroun...
Burnaby BC - Living in Burnaby, Neighbourhoods, Real Estate, Schools & More!
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First Time Home Buyer Programs - 2024 Update!
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Presales 101: Assignment of Contracts - What They Are & How They Work in BC
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Costs of Selling a Home - Common & Variable Costs to Consider When Selling Your Home
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What Does a Real Estate Agent Do for a Buyer? What to Expect from a Buyer’s Agent in Vancouver, BC
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Harbour Chines, Harbour Place & Chineside Neighbourhood Guide - Real Estate, Schools, & More!
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Presale FAQs - The Most Frequently Asked Questions We Get Asked Regarding Presale Properties!
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How Subject Free Offers Differ with the Home Buyer Rescission Period (AKA the 'Cooling Off Period')
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Port Coquitlam BC - Living in Port Coquitlam, Neighbourhoods, Real Estate, Schools & More!
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Home Buyer Rescission Period (HBRP) in Real Estate BC - Examples
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Vancouver Presales | Benefits of Hiring a Presale Realtor
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Port Moody BC - Living in Port Moody, Neighbourhoods, Real Estate, Schools & More!
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BC's Cooling Off Period AKA Home Buyer Rescission Period - Details, Exempt Properties, FAQs & More!
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Happy Holidays! || Bridgewell Year End Recap 2022
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TOP TIPS for Selling Your Condo Property || Get Your Home Ready For Sale
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Take a DRONE TOUR of a Coquitlam Detached Home - 2539 Latimer Avenue Coquitlam BC
มุมมอง 1212 ปีที่แล้ว
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BC Government Announces BIG Changes for Strata Properties & The New Housing Supply Act
มุมมอง 9212 ปีที่แล้ว
BC Government Announces BIG Changes for Strata Properties & The New Housing Supply Act
👋CONTACT US👋: 📞Text or Call Us at 604-319-0200 📩Email: hello@bridgewellgroup.ca SUBSCRIBE TO OUR CHANNEL HERE: th-cam.com/users/BridgewellRealEstateGroup Search for Vancouver & Fraser Valley homes for sale at: bridgewellgroup.ca/pcs-signup/ You can also follow us on🤗: Instagram: instagram.com/bridgewellgroup Tik Tok: www.tiktok.com/@bridgewellgroup Facebook: facebook.com/bridgewellgroup Twitter: twitter.com/bridgewellgroup
Am interested l need 2bedroom renting
👋CONTACT US👋: 📞Text or Call Us at 604-319-0200 📩Email: hello@bridgewellgroup.ca SUBSCRIBE TO OUR CHANNEL HERE: th-cam.com/users/BridgewellRealEstateGroup Search for Vancouver & Fraser Valley homes for sale at: bridgewellgroup.ca/pcs-signup/ You can also follow us on🤗: Instagram: instagram.com/bridgewellgroup Tik Tok: www.tiktok.com/@bridgewellgroup Facebook: facebook.com/bridgewellgroup Twitter: twitter.com/bridgewellgroup
TH-cam recommend me your video and I am soo soo thankful, really great stuff man. btw, I was wondering do you need an SEO for your videos man?
Should mention two Costcos in Burnaby North.
You just completely skipped Government road.
Beautiful 😍
How could anyone ever determine that a tenant was evicted so a close family member could move in? How would you prove bad faith?
encouraging people to get deeper into debt with a smiling face..nice lessons for the younger generation. i hope you are proud of yourself
there you go!! encourage people to get deeper in debt...hope you are proud of yourself
NDP brought these changes in on July 24 before the election and still they get voted in what's wrong with people, goodbye small landlords. These knuckleheads in Victoria give tenants more and more rights so many landlords have said enough we're shutting down our rental suite, so instead of creating more rental units there will be less,way to go eby
👋CONTACT US👋: 📞Text or Call Us at 604-319-0200 📩Email: hello@bridgewellgroup.ca SUBSCRIBE TO OUR CHANNEL HERE: th-cam.com/users/BridgewellRealEstateGroup Search for Vancouver & Fraser Valley homes for sale at: bridgewellgroup.ca/pcs-signup/ You can also follow us on🤗: Instagram: instagram.com/bridgewellgroup Tik Tok: www.tiktok.com/@bridgewellgroup Facebook: facebook.com/bridgewellgroup Twitter: twitter.com/bridgewellgroup
communist government
if a builder decides to keep the new property for themselves do they need to pay PTT at the new FMV after completion? thanks
For a list of the property transfer tax exemptions, you can find it here on the government website: www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax/exemptions , and if you want to run your specific situation by someone we would advise speaking to a legal professional.
👋CONTACT US👋: 📞Text or Call Us at 604-319-0200 📩Email: hello@bridgewellgroup.ca SUBSCRIBE TO OUR CHANNEL HERE: th-cam.com/users/BridgewellRealEstateGroup Search for Vancouver & Fraser Valley homes for sale at: bridgewellgroup.ca/pcs-signup/ You can also follow us on🤗: Instagram: instagram.com/bridgewellgroup Tik Tok: www.tiktok.com/@bridgewellgroup Facebook: facebook.com/bridgewellgroup Twitter: twitter.com/bridgewellgroup
I don't like landlords, but this is still really annoying (as long as they're actually evicting in good faith and not just trying to get market rent). also annoying to know for when we buy a new home.
👋CONTACT US👋: 📞Text or Call Us at 604-319-0200 📩Email: hello@bridgewellgroup.ca SUBSCRIBE TO OUR CHANNEL HERE: th-cam.com/users/BridgewellRealEstateGroup Search for Vancouver & Fraser Valley homes for sale at: bridgewellgroup.ca/pcs-signup/ You can also follow us on🤗: Instagram: instagram.com/bridgewellgroup Tik Tok: www.tiktok.com/@bridgewellgroup Facebook: facebook.com/bridgewellgroup Twitter: twitter.com/bridgewellgroup
Does the HBRP apply to bare land with no structures on it?
The right of rescission under the Property Law Act applies to "residential real property," as defined in the Regulations, and this definition primarily depends on the type of structure present on the lot. In most cases, a vacant lot without any structures does not qualify as "residential real property." However, certain types of undeveloped land, like a bare land strata lot, may still fall under the Home Buyer Rescission Period (HBRP), so it's hard to give a definitive yes or no without knowing the details of the specific property. We would advise to seek legal advice regarding any exemptions for the HBRP and also chatting more with your real estate agent prior to writing an offer so they can confirm.
In other words, everything works against the landlord, as per usual. The one who actually OWNS the property.
👋CONTACT US👋: 📞Text or Call Us at 604-319-0200 📩Email: hello@bridgewellgroup.ca SUBSCRIBE TO OUR CHANNEL HERE: th-cam.com/users/BridgewellRealEstateGroup Search for Vancouver & Fraser Valley homes for sale at: bridgewellgroup.ca/pcs-signup/ You can also follow us on🤗: Instagram: instagram.com/bridgewellgroup Tik Tok: www.tiktok.com/@bridgewellgroup Facebook: facebook.com/bridgewellgroup Twitter: twitter.com/bridgewellgroup
Great content 👍😎
Thank you!
Amazing info thank you so much
Glad it was helpful!
beautiful
beautiful
👋CONTACT US👋: 📞Text or Call Us at 604-319-0200 📩Email: hello@bridgewellgroup.ca SUBSCRIBE TO OUR CHANNEL HERE: th-cam.com/users/BridgewellRealEstateGroup Search for Vancouver & Fraser Valley homes for sale at: bridgewellgroup.ca/pcs-signup/ You can also follow us on🤗: Instagram: instagram.com/bridgewellgroup Tik Tok: www.tiktok.com/@bridgewellgroup Facebook: facebook.com/bridgewellgroup Twitter: twitter.com/bridgewellgroup
👋CONTACT US👋: 📞Text or Call Us at 604-319-0200 📩Email: hello@bridgewellgroup.ca SUBSCRIBE TO OUR CHANNEL HERE: th-cam.com/users/BridgewellRealEstateGroup Search for Vancouver & Fraser Valley homes for sale at: bridgewellgroup.ca/pcs-signup/ You can also follow us on🤗: Instagram: instagram.com/bridgewellgroup Tik Tok: www.tiktok.com/@bridgewellgroup Facebook: facebook.com/bridgewellgroup Twitter: twitter.com/bridgewellgroup
👋CONTACT US👋: 📞Text or Call Us at 604-319-0200 📩Email: hello@bridgewellgroup.ca SUBSCRIBE TO OUR CHANNEL HERE: th-cam.com/users/BridgewellRealEstateGroup Search for Vancouver & Fraser Valley homes for sale at: bridgewellgroup.ca/pcs-signup/ You can also follow us on🤗: Instagram: instagram.com/bridgewellgroup Tik Tok: www.tiktok.com/@bridgewellgroup Facebook: facebook.com/bridgewellgroup Twitter: twitter.com/bridgewellgroup
👋CONTACT US👋: 📞Text or Call Us at 604-319-0200 📩Email: hello@bridgewellgroup.ca SUBSCRIBE TO OUR CHANNEL HERE: th-cam.com/users/BridgewellRealEstateGroup Search for Vancouver & Fraser Valley homes for sale at: bridgewellgroup.ca/pcs-signup/ You can also follow us on🤗: Instagram: instagram.com/bridgewellgroup Tik Tok: www.tiktok.com/@bridgewellgroup Facebook: facebook.com/bridgewellgroup Twitter: twitter.com/bridgewellgroup
👋CONTACT US👋: 📞Text or Call Us at 604-319-0200 📩Email: hello@bridgewellgroup.ca SUBSCRIBE TO OUR CHANNEL HERE: th-cam.com/users/BridgewellRealEstateGroup Search for Vancouver & Fraser Valley homes for sale at: bridgewellgroup.ca/pcs-signup/ You can also follow us on🤗: Instagram: instagram.com/bridgewellgroup Tik Tok: www.tiktok.com/@bridgewellgroup Facebook: facebook.com/bridgewellgroup Twitter: twitter.com/bridgewellgroup
👋CONTACT US👋: 📞Text or Call Us at 604-319-0200 📩Email: hello@bridgewellgroup.ca SUBSCRIBE TO OUR CHANNEL HERE: th-cam.com/users/BridgewellRealEstateGroup Search for Vancouver & Fraser Valley homes for sale at: bridgewellgroup.ca/pcs-signup/ You can also follow us on🤗: Instagram: instagram.com/bridgewellgroup Tik Tok: www.tiktok.com/@bridgewellgroup Facebook: facebook.com/bridgewellgroup Twitter: twitter.com/bridgewellgroup
👋CONTACT US👋: 📞Text or Call Us at 604-319-0200 📩Email: hello@bridgewellgroup.ca SUBSCRIBE TO OUR CHANNEL HERE: th-cam.com/users/BridgewellRealEstateGroup Search for Vancouver & Fraser Valley homes for sale at: bridgewellgroup.ca/pcs-signup/ You can also follow us on🤗: Instagram: instagram.com/bridgewellgroup Tik Tok: www.tiktok.com/@bridgewellgroup Facebook: facebook.com/bridgewellgroup Twitter: twitter.com/bridgewellgroup
👋CONTACT US👋: 📞Text or Call Us at 604-319-0200 📩Email: hello@bridgewellgroup.ca SUBSCRIBE TO OUR CHANNEL HERE: th-cam.com/users/BridgewellRealEstateGroup Search for Vancouver & Fraser Valley homes for sale at: bridgewellgroup.ca/pcs-signup/ You can also follow us on🤗: Instagram: instagram.com/bridgewellgroup Tik Tok: www.tiktok.com/@bridgewellgroup Facebook: facebook.com/bridgewellgroup Twitter: twitter.com/bridgewellgroup
its time to leave this marxists hell hole and leave...already most taxed in all of americas other than venezuela that went full communism and they added 16% cap gains?wars have been faught for far less...how about u cant take more than 50% of nything how bout that...sinaloa cartel taxes 50% capital gains(profit only)trudeau is worst than the sinaloa cartel let that sink in while u apply for a secound citizenship
❤ you really do a great Job 🎉
Thank you so much!
Pitch and put is not a real golf course.
Spoken by a true golfer! You're not wrong haha.
Awesome! Great introduction to Burnaby. great job!
Thank you!
Thank you for the explanation.Can you give me an example for a situation when listing price goes below the market value ..like why do sellers list their property below the market valuwe ?
Hi there. The listing price is ultimately the seller's decision and they can choose to list below, at, or above market value based on strategy; whereas market value is representative of recent sales of comparable homes. Oftentimes when you list below market value, because it looks like a discounted price from the sales in the area, homes are more likely to have bidding wars and/or sell quickly. An example could be: A seller has already bought a home and needs to sell theirs quickly. They decide to list below market value to generate attention ASAP and sell their home to ensure they can finance they new home purchase. Alternatively, another example could be: A seller wants to generate a lot of buzz around their listing, so they choose to list low in hopes of getting multiple offers and selling for a higher price than what they listed. Whatever the case may be, there is a difference between listing price and market value and that is why it's important to have your realtor do an in-depth market evaluation prior to writing an offer on a home you're interested in.
More poor life quality with more population
Thanks. Great video!
Would this apply when you transfer a property into a trust?
Based on the government website (www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax/exemptions) it appears transferring to a trust may be applicable for an exemption, but we would advise to seek legal advice regarding an exemption as legal professionals are the ones who deal with the property transfer tax and any exemptions.
@@bridgewellgroup if you want to operate under satatuatory law. I would much rather operate under natural common law and natural law.. having a private trust
Tra-bow-lay Trail not Tra-boo-lee
Tank you
Thanks! Great video. What would be a typical yearly lease cost? I saw a 2bd condo in false Creek listed at $650K. What portion of that is the prepaid lease (to 2070)? Would you estimate? Also, do leasehold owners pay zero property tax?
That is a great question. We've only been involved with the purchasing of the pre-paid leasehold properties for buyers after the lease has been set, but are not experienced with regards to the negotiations with the leasor and leasee and the amount of the lease itself. I believe this can be different from land to land. With any leasehold land, you'll want to get ahold of any head lease and/or sublease to see the specifics of the property that you're purchasing as those documents will hold the specifics of any individual lease. You could also look into the owner (eg City of Vancouver) and call them directly. In our experience, leasehold owners still have to pay property tax to the city similar to freehold owners. You can also learn more about leasehold ownership on the government website here: www2.gov.bc.ca/gov/content/housing-tenancy/real-estate-bc/buying-selling/long-term-residential-leases
What a fucking stupid explanation!
Way too many aerial/drone views and not enough of what it's like on the ground. Not impressed.
The info the given is everyone know. The must say :.how if the developer don't start. What if the project delayed for long time. What if the developer filed bankruptcy? What if ...
Hi there. Those are important questions as well for presale developments, and can be a concern for what happens to your deposit in the case where those situations occur. We will make a note to try and expand on these topics in a future video!
The worst video. Like kids.
Great content! I just had a quick question about presale deposits - Can we use our RRSP for paying the deposit ?
There is the possibility you could use your RRSP to help pay the deposit, but it does require you to meet certain criteria. We would recommend checking out the Government of Canada website (www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/what-home-buyers-plan.html), and also speak to a bank/financial advisor as they would be the best to help pull out any funds from your RRSP in this regard.
Title of this video is exactly where I'm at with my family; planning to move from GTA to Western Canada. I called my mortgage lender (Tangerine) and was stunned to hear that bridge financing is only for the new downpayment and we'd have to qualify for the new mortgage _as if we have nothing to sell._ Is that true/normal?? With the unprecedented interest-rate hikes, my wife & I could only qualify for a home that's ⅔ price of our current home!! I do not want to go conditional on selling.
Bridge financing is assessed on a case by case basis from our understanding as realtors, but does generally require that you have two firm accepted offers - one being for your current property and another for your next. If you're getting any kind of new mortgage then you would need to re-qualify, which we agree and know can be difficult right now. We recommend that you talk to a few different mortgage professionals to see if there are any other programs or options for you to qualify for.
Is GST component of a new build put into consideration when calculating Land Transfer tax?
To our understanding the Property Transfer Tax (PTT) is based on the purchase price pre-GST but factoring in any adjustments like decorating allowances, incentives, etc. We would recommend you speak to a lawyer or notary for final confirmation of your closing cost numbers to be sure that your case is not different for a particular reason!
😱 "PromoSM"