Naru Menon’s Blog
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Capital Gains Inclusion Rate Increase
Increase for high earners: After June 25, 2024, capital gains tax increases for profits exceeding $250,000.The $250,000 threshold applies to individuals, including gains through partnerships or trusts.
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2 Hearts, 1 Home: Tips for Partnered Home Buying
1. Address any unresolved debt and work on improving low credit scores 2. Discuss savings and establish a budget 3. Pre-approval sets a realistic budget and boosts offer strength 4. Improve credit scores before house hunting
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BC Budget Boosts Housing Initiatives
Builders applaud budget's housing emphasis, particularly first-time buyer relief and rental incentives. First-time buyers benefit from increased property transfer tax threshold, aiding 14,500 potential homeowners.
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Over 13,000 rental homes currently in progress in Coquitlam
The City of Coquitlam is advancing secured purpose-built rental housing, with over 13,000 units in progress. This includes 2,225 homes under construction, 445 below-market units, and 11,000 homes in the development application process. Concerns have been raised about new provincial legislation impacting housing supply and affordability. Continue to full article
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Federal Funding Boosts BC’s Affordable Housing Plan
Federal government announces $2B for BC Builds, a program to build rental homes on public land. BC Builds aims to create 8K to 10K new homes for middle-income earners in BC communities.
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What Are BC’s Preferred Homeownership Approaches in 2024?
Homebuyers in B.C. and Western Canada explore creative options amid affordability challenges. In Western Canada, secondary suites are popular for extra income from renters, along with joint tenancy and tenants in common.
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Check out this open house Listing Address: 202 9978 148 STREET
Welcome to your oasis at Highpoint Garden! This stunning concrete building boasts full rain screening,ensuring durability and peace of mind for years to come. Step into luxury with this spacious 2-bedroom, 2-bathroom unit. One parking and One Storage Locker.New paint Indulge in resort-style living with unparalleled amenities, including an inviting outdoor pool, relaxing hot tub,…
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Canada to Allow 30-Year Mortgages for First-Time Homebuyers
Monthly payments become more manageable for young Canadians aiming for homeownership. Some advocate for broader eligibility, expressing concerns about effectiveness in high-priced markets.The industry expects a significant impact, potentially spurring more construction and aiding rental market relief.
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B.C.’s New Home-Flipping Tax Highlights
Introducing a 20% tax on homes sold within the first year to deter speculation. Tax takes effect Jan. 1, 2025, decreasing over two years of ownership.
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Low vacancy squeezes Metro Vancouver retailers seeking space
Suburban retail vacancy remains low in Metro Vancouver, with limited space for retailers and restaurant owners. Large floorplate options are even scarcer, with sites like CF Pacific Centre having significant vacant space. Downtown Vancouver retail is strong, but faces challenges due to office vacancies and reduced tourism. New developments like The Post and Oakridge Park…