The below are the taxes that have been implemented in the 2018 Budget. The taxes will apply to areas beyond Metro Vancouver but the Sunshine Coast is not one of them.
Our market remains very active with low inventory and continued buyer demand. It is just too early to tell what the new real estate tax measures will have on the Sunshine Coast market.
- The province will implement a new speculation tax on residential properties, targeting foreign and domestic homeowners who don’t pay income tax in BC. This includes those who leave homes vacant.
- The tax will apply to the Metro Vancouver, Fraser Valley, Capital, and Nanaimo Regional districts and in the municipalities of Kelowna and West Kelowna.
- In 2018, the tax rate will be $5 per $1,000 of assessed value. In 2019, the tax rate will rise to $20 per $1,000 of assessed value.
- The province will administer the tax and will collect data to enforce it including, social insurance numbers, household information, and world-wide income information.
Foreign buyer tax
- Effective Feb. 21, 2018, the foreign buyer tax will increase to 20 per cent from 15 per cent and will be extended to the Fraser Valley, Capital, Nanaimo, and Central Okanagan Regional Districts.
- If the property is located in the Capital Regional District, Fraser Valley Regional District, Regional District of Central Okanagan, or Nanaimo Regional District, and the property transfer is registered on or after February 21, 2018, there are transitional rules available here.
Property Transfer Tax
Effective Feb. 21, 2018, the Property Transfer Tax on residential properties above $3 million will increase to five per cent from three per cent.
If traveling on WestJet during the month of March, check out my ad in their Magazine. WestJet has 300 daily flights to 100 destinations. I am inviting their many travellers to experience the Sunshine Coast and explore Real Estate opportunities. For further information visit my website: http://staceybuchhorn.com
Congratulations to Craig and Mariana on the sale of their Beachfront Home at the Wakefield. It was a pleasure to assist you both with the sale of your recreational property on the Sunshine Coast. Congratulations and I look forward to hearing where your next adventure takes you both!
Congratulations to Barbara on the quick sale of her beautiful condo at The Wharf Place in Sechelt BC. Barbara, it was a pleasure to meet you and assist you with this Sale. It was even more special to know that Barbara is heading back home,,, to my Hometown - Windsor Ontario!
It was an absolute pleasure to post my SOLD sign in front of this property this week. Such a pleasure to be a part of making dreams come true for wonderful people!!!
There was no doubt that this beautiful home was going to sell quickly. Glen and Gail did an amazing job in getting their home ready for sale. Congratulations to you both and all the best with your new adventure! We will miss you on the Sunshine Coast!
I had the recent pleasure of being put in contact with a lady interested in moving from the Lower Mainland to the Sunshine Coast. It was a pleasure to assist with finding her the perfect home in a nice area called Woodcreek Park in Gibsons.
The great thing about working with a local Realtor® is the understanding the area, infrastructure and future plans. As well, we can provide after purchase support. With our local knowledge and networks we can provide referrals and recommendations to anything from excellent local trades and business supporting your home purchase to great place to dine, hike and bike. Make your move more than just Buying a Home!
I look forward to hearing from you soon!
Congratulations to my Seller and the new owners of this beautiful home in central downtown. Privacy and proximity - the perfect combination.
Congratulations to my Sellers who just sold their beautiful home in Davis Bay! It was a pleasure working with you both!
Such a special moment for me today to deliver keys to a wonderful Lady and to part of her special moment - a First Time Home Owner!!!
I am putting this in writing today as I can guarantee you, this will be a Lady we will see as one of our remarkable leaders in the future,,,,,,, and I will get to brag that I helped her purchase her first home !!!
Congratulations to a wonderful couple who embark on a "inquiry of possibility" and ended up on a journey of selling their beautiful waterfront home in Halfmoon Bay and purchased a beautiful waterfront condo in Sechelt at Watermark one month later.
Ross and Lee,,, you were wonderful through a multitude of showings, offers on both their existing and new home and a very quick completion on both homes in August.
Thanks for your overwhelming support to the concept of "nothing is impossible"!
I wish you both the very best!
Congratulations to my client, Jan and Lois, who have purchased a beautiful 5-bedroom home in Gibsons BC. This home although Jan and Lois admit is much larger than they originally had in mind, the craftmanship and the feel of this home made it their number one choice. They look forward to moving to the Sunshine Coast from Aldergrove BC. Welcome to the Sunshine Coast Jan and Lois
Congratulations to my client, Ben and Charlotte, who have made their new home Halfmoon Bay BC. It was great learning from each other how the home purchase process is very similar to Denmark. I wish you many happy years and fond memories in your beautiful 3-bedroom home with a sunny half acre yard.
One of the things I love about my business is the interesting people I have the pleasure of meeting. Take for example Brock and Susan whom I met this summer at an Open House. Brock and his partner are starting up this new and exciting company that will have you wishing you owned one of these snowboards!
Check out this video of Brock's company Imedgeboards.
For more information, Contact Brock Tredway at firstname.lastname@example.org or (250) 862-1107