The B.C. First Time New Home Buyers Bonus
Free money from the government to put towards the purchase of your new home
If you meet the following;
– You are a BC resident
– You’ve never bought a house before
– You purchase something after Feb 21st 2012 and before April 1st 2013
– You live in the property yourself (primary residence)
– You don’t personally make over $200K a year (prorated after $150K)
– You didn’t make over $250K combined with your partner on title (prorated after $200K)
What would be considered a NEW HOME ?
– Brand new constructed home
– Substantially Renovated home (90% or more of the interior must be reno’d)
Eligible homes include detached houses, semi-detached houses, duplexes and townhouses, residential condominium units, mobile homes and floating homes, and residential units in a cooperative housing corporation.
The bonus is equal to 5% of the purchase price of the home or, in the case of owner-built homes, 5% of the land and construction costs subject to HST. The maximum bonus is $10,000.
To Claim the Bonus Fill out this form
Application for the B.C. First-Time New Home Buyers’ Bonus
You must file your application for the bonus on or before March 31, 2015.
For more details scope out the BONUS page on British Columbia.ca
Have more questions ? Just ask theMACNABs
