Thinking about buying a home in Canada for the first time? This new incentive makes it a lot easier!

By: gtacasa.ca

Thinking about buying a home in Canada for the first time? This new incentive makes it a lot easier!

Tags: Home ownership, Canadian Millenials, Buying a Home, First-Time Buyers

It will be easier for Canadians to buy a house from now on. Actually from today. The First-Time Home Buyer Incentive looks to lower mortgage costs for new home buyers by giving buyers 5 or 10 per cent of the house's cost. This changes a lot of things for a lot of Canadians who want to buy a house. 

Last month the First-Time Home Buyer Incentive was announced and it is now finally about to launch. Next week the government will start accepting applications for the incentive. 

"The First-Time Home Buyer Incentive is designed to benefit those who need more assistance with housing costs, middle class Canadians," said Jean-Yves Duclos, minister of families, children and social development and minister responsible for the Canada Mortgage and Housing Corporation, in a press release.

The incentive is open to all Canadian citizens, permanent residents and non-permanent residents who are legally allowed to work in this country. 
Also, your total income must be $120,000 or less per year individually if buying alone or that same amount combined if buying with another person. 
For this incentive, a home doesn't have to be a house. The types of properties included in the incentive are single family houses, semi-detached houses, town houses, condo units, duplex, triplex and fourplex.

Read the full article on this new incentive here

Of course I am willing to help you put your first steps on the market. Just contact me here and I will be be happy to schedule an introductory appointment with you!

Nick Caccavella

Source and quoted from article on: 
 www.narcity.com