New home buyer’s program gets boost from local developer

Changing taxes, shifting economy, job creation, sustainable communities, slowing of development, growth rates—all of these factors affect the future of the housing industry in British Columbia and the government has come up with a rebate incentive program to help. The B.C. government is offering a $10,000 rebate program for first-time new home buyers and in Nelson local developers are matching the rebate offer and extending it beyond first-time buyers.

In an attempt to stimulate the housing market and to deal with the PST/HST switch, the provincial government has created a $10,000 rebate for purchases of new homes by first-time buyers before April 1, 2013. The intention is to keep the new home buyer's market growing, which in turn creates jobs, benefits local economies and creates sustainability.  The direct benefit of this rebate is to help people with the deposit on a new home—or they could use the funds for RRSPs, which can be used as a tax deduction.

“The B.C. First-Time New Home Buyer's Bonus is a new, temporary measure, designed to provide tax relief during the transition period back to the PST for families and individuals who are purchasing their first home, and will assist the residential construction industry by encouraging purchases of newly constructed homes.”  

In Nelson, B.C., local developers of West Creek Village are matching the $10,000 rebate offered by the government, which means a potential savings of $20,000. In today’s economy that is a real boon to the first-time new home buyer.  But West Creek Village is going beyond the first-time buyers and is offering the $10,000 rebate to any qualified buyers of their last two four-room units.

To find out more about the B.C. First-Time New Home Buyer's Bonus check out www.PSTinBC.ca and to find out more about West Creek Village, contact Pat Davis at 250-505-4820 and check out www.WestCreekVillage.ca.