Victoria Military Relocation Realtor’s. Call Geoff and Jodi for your next house hunting trip and enjoy the Peace of Mind of dealing with Experienced Professionals.
If you ask anyone connected to the Victoria, BC real estate market, or any of the thousands of people who have listed their Victoria properties for sale with Geoff McLean over the years, they’ll confirm that one of his defining characteristics is his integrity.
Geoff approaches his real estate vocation with honesty and straightforwardness. As a husband, father and homeowner, he understands the family/work balancing act that everyone negotiates. At the heart of his service is Geoff’s respect for his clients, fellow Realtors and the industry.
Three generations of Jodi Baker’s family have been involved in the Victoria Real Estate industry. Jodi’s grandmother was a realtor in Victoria, her mother (Heather Wilde) is a realtor and Jodi grew up knowing that she would be a realtor too!
After attending grade school locally, Jodi enrolled at Camosun College, taking Business Administration and majoring in marketing. She graduated in 1991, the same year she was licensed as a Real Estate Agent and joined Re/Max Camosun.
Since then Jodi has been been building her career based on a desire to provide friendly professional service to people who want to sell or buy properties in Victoria, winning several awards along the way. In 2003 Jodi joined Geoff McLean and Associates, and she enjoys being part of his team of real estate experts.
Are you thinking about buying a new home? Have you been hesitant to do so because of the HST? There is now a solution to that problem; subject to approval by the legislature, the BC government intends to implement a BC First-Time New Home Buyers’ Bonus. This temporary program is meant to improve sales of new homes until the HST is repealed.
Eligibility for the BC First Time New Home Buyers’ Bonus
You are eligible if:
- You buy or build an eligible new home in BC;
- You, or you and your spouse or common-law partner have never previously owned a primary residence;
- You file a 2011 BC resident personal income tax return, or, if you move to BC after Dec. 31, 2011, you file a 2012 BC resident personal income tax return
- You are eligible for the BC HST New Housing Rebate, and
- You intend to make the home your primary residence.
Eligible New Home
An eligible new home includes new or substantially renovated homes purchased from a builder or owner-built. You can claim the bonus when you buy from a builder and:
- A written agreement of purchase and sale is entered into on or after Feb. 21, 2012;
- HST is payable on the home, and
- No one else has claimed a bonus in respect to the home.
In the case of owner-built homes you may claim the bonus when:
- A written agreement of purchase and sale in respect of the land and building is entered into on or after Feb. 21, 2012;
- Construction of the home is complete, or the home is occupied, before April 1, 2013; and
- No one else has claimed a bonus in respect of the home.
Eligible homes include; detached houses, semi-detached houses, duplexes and townhouses, residential condominium units, mobile homes, floating homes, and residential units in a cooperative housing corporation.
If you are applying for the bonus with the purchase of a substantially renovated home, it must be one where all or most of the interior of a building has been removed or replaced, generally, 90 per cent or more.
Amount of the First Time New Home Buyers’ Bonus
The bonus is equal to 5% of the purchase price or, for owner-built homes, 5% of the land and construction costs subject to HST to a maximum of $10,000.
There is a phase out of the bonus for higher income earners based on net family income. It kicks in at $150,000 and the bonus is erased at $200,000 ($250,000 for couples).
Applying for the First Time New Home Buyers’ Bonus
You must apply for the bonus through the BC government and application forms will be available on the BC Ministry of Finance website.
This opportunity to receive a bonus of up to $10,000 dollars is only available when construction of the home is complete, or the home is occupied, before April 1, 2013. If you have been considering the purchase of a new home and meet these qualifications, it could be the right time for you to buy. You can read more about it on the 2012 First Time Home Buyers’ Fact Sheet. If you have any other questions about this program please feel free to contact us.