Real Estate Additional Resources
Below you’ll find a list of additional resources to help you with the buying or selling of your home. These include incentives, interest rates, legal, mortgage calculators, market trends, and government information.
First Time Buyers BC Incentives
The Government of British Columbia provides rebates on land transfer taxes for first-time home buyers. The amount that you can qualify for depends on the value of the property. WOWA.ca, a real estate and finance technology company, has put together a summary on the first-time buyer BC incentives including:
- First-time home buyers in BC can receive a property transfer tax rebate of up to $8,000.
- If you’re a first-time home buyer that is purchasing a home in BC with a price of $500,000 or less, you’ll receive the maximum BC property transfer tax rebate amount
- There are also other first time home buyer incentives and programs offered by the federal government
Interest Rates – Major Banks
It makes sense to know the current mortgage rates as your rate will dictate how much interest you can expect to pay over the life of your term. Super Brokers, a brokerage lending agency, has assembled a useful summary page of the Canadian banks and their published interest rates.
WOWA.ca, a real estate and finance technology company, summarize the function and cost scenarios when buying or selling a home, including:
- A real estate lawyer and/or a notrary is required when buying or selling a home in order to register the transfer of property with your province’s land registry office
- Legal fees are typically a flat fee that ranges from $700 to $1,500
- You will also need to pay your lawyer for any disbursements, such as land transfer tax and registration fees
Realtor.ca provides comprehensive mortgage calculators for both payment and affordability (i.e. budgeting) including full amortization tables. Realtor.ca is owned and operated by the Canadian Real Estate Association (CREA), and provides up-to-date and reliable information.
Real Estate Market Trends
WOWA provides comprehensive Canadian housing market news and pricing trends across Canada. You’ll find a synopsis by major city and province, including market trends and the residential property price index (RPPI) as published by Statistics Canada, plus housing construction stats. To see it all, click on the read more link below.
The Canadian Real Estate Association
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry Associations. The association membership includes more than 150,000 real estate brokers, agents and salespeople, working through 74 real estate Boards and Associations across Canada. CREA has put together a comprehensive list of topics and video explanations on buying and selling real estate. To watch it all, visit the read more link below.
BC Financial Services Authority
The BCFSA regulates credit unions, trust companies, insurance companies, pension plans, mortgage brokers and real estate professionals, ensuring financial services transactions are protected, for the prosperity of consumers and the province of B.C. BCFSA resources help home buyers and sellers understand real estate transactions and avoid risks. Weather you are buying or selling, or navigating a real estate issue, BCFSA provide a go to guide for buyers and sellers.
Real Estate Blog Website
For up-to-date news and topics on all things real estate in Canada, check out the RE/MAX real estate blog.